EVFN - Still Busy Giving Penny Stocks A Bad Name

Readers of This Blog know I was all over EVFL last year, telling the world that a reverse split was coming on the bidless stock. Sure enough just a day before Thanksgiving EVFL pulled a 600-1 reverse split, and changed their stock ticker to EVFN. The stock opened for a nano-second at $.06 before the selling continued and now, today, EVFN, formerly EVFL, is bidless yet again.

On June 3rd the company said no reverse split was coming, at least within 120-180 days. No sense reverse splitting the stock while there are still suckers buying. Even still, we can't believe one word this company says.

Why? Just after the 600-1 reverse split last year the CEO of EVFL/EVFN said the reverse split was to the benefit of shareholders. He even said it was done for those who can't buy a stock when it falls under a penny.

There are his words verbatim:

"Our goal of listing on a premiere tier of the U.S. over-the-counter market will provide numerous trading benefits, as well as increased exposure to retail and institutional investors," said Dennis McLaughlin, CEO of Evolution Fuels. "However, in order to achieve our goal of listing on the OTCQX, we are undergoing a series of proactive strategic initiatives to raise our price per share, while at the same time, rewarding our existing shareholders." The higher price per share needed to achieve Evolution Resources' goal of obtaining a listing on the OTCQX marketplace will also benefit many shareholders and potential shareholders who have experienced limitations on the ability to purchase stocks that trade under one penny.


Benefit shareholders? The only beneficiary has been whoever has been DUMPING stock at an incredulous rate into the market. Seems like the only goal EVFN has had since day one is to sell stock and take your money. They've done a great job of that so far. This is a 5 star share dumping, capital raising machine.

Split adjusted this stock has gone from $85 to $.0001. That is some feat considering after that obscene downslide they still have a bevy of suckers throwing money at this pig.

The next reverse split is inevitable. I think an appropriate ticker after the next reverse split would be JUNK, then at least investors would know what they were buying without having to do any research.