Monday, June 27, 2022

Envoy Group Corp (OTCMKTS: ENVV) Searches for Redemption

Envoy Group Corp (OTCMKTS: ENVV) is an interesting story. ENVV was the newest kid on the block in the blockchain space, and then it got slapped with the dreaded skull and crossbones on and summarily crashed. We have seen a bit of a bounce in place over the last week or so, but we remain a long ways from the stock’s highs up over $0.80/share. In response to that crash, ENVV recently put out an investor update to clarify the current reality.
According to that release, “Cryptocurrency mining operations were launched during the months of June and July with significant success. Our BitReturn division’s mining operations, which are conducted 24/7, produced substantial revenues per machine that yielded gross profit in excess of 45% per machine after direct costs, which exceeded our initial projections. Also in June, Envoy Group secured new equipment financing for BitReturn with very favorable terms that will enable the firm to significantly expand its processor count for Cryptocurrency operations and accommodate rapid growth in revenue. We expect to have this loan retired during Q2, 2017.”
Envoy Group Corp (OTCMKTS:ENVV) bills itself as a company that, through a division (BitReturn), has first targeted a high positive cash flow method of Mining of Digital Currencies that has been de-risked by employing the most effective Graphic Processor (GPU) technology and BitReturn’s secure Tier3 (T3) facility in Kamloops, B.C. Hundreds of 7 to 13 GPU arrays will be working 24/7 within the climate controlled facility.
Mining of Digital Currencies will be constantly directed to which currencies provide maximized profitability. New digital coins drop into the world every 10 minutes and BitReturn will be there to catch them.
According to company materials, “Envoy Group, Corp. is a company with an extensive market reach and a strategy to identify, evaluate, and develop new business opportunities across North America, Europe and Asia.”
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As noted above, ENVV shares were on a torrid run in May and June, and then crashed after getting hit the skull and crossbones symbol, which represents trouble with either information transparency or roundly fraudulent activity, or more often, potential warnings signs of either of those conditions.
At this point, we believe the main reason for this flag was due to promotional activity in the stock.
That said, ENVV is quite adamant that things are still rolling along. In fact, in its release, the company notes that it expects excellent revenue growth during Q2, as the 500 Nvidia 7 GPUs start adding revenues to the company. “Our goal will be to add more mining rigs every quarter.”
The release continues to note that, “As a new business opportunity, Envoy and BitReturn have begun development of a plan to create turn-key Cryptocurrency mining operations, including real estate acquisition, design, installation and launch of operations, for investors who seek a low-risk entry to the growing Cryptocurrency market. Further announcements will be made as plans are crystallized… Due to the number of new projects, Envoy Group was forced to file an extension for our 10K filing.  We intend to file our 10K on or before, August 15th 2017.  We have encountered no accounting or auditing issues and recently developed a more streamlined system for reporting with our auditors that will enable us to make future filing dates.”
Finally, ENVV directly confronts the judgment: “we expect a review of the “Caveat Emptor” that was placed by OTC Markets on the company the week of August 21st.  We are confident that this will be resolved.”
Traders will note share values of ENVV are roughly flat (+1%) over the past week of action, and even that meager bounce has taken root amid largely bearish action over the larger time frame of the crash that ensued following the “caveat emptor” signification on That said, ENVV is a stock whose past is littered with sudden rips. In addition, the listing has seen a jump in recent trading volume to the tune of just shy of 680% beyond what we have been seeing over the larger time frame.
This is particularly important due to the limited float size in the stock (not even 24M shares). Traders should not overlook this combination, as ramping trading activity can overwhelm available supply in a stock with this type of small float, leading to an upward burst in prices.
Earning a current market cap value of $21.87M, ENVV has virtually no cash on the books, which stands against virtually no total current liabilities. The company is pre-revenue at this point. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $ENVV stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ENVV, either long or short, and we have not been compensated for this article.

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