Envoy Group Corp (OTCMKTS:ENVV) is seeing a sell-off today after an impressive run up the charts this week that took ENVV from $0.15 all the way to $0.35. The stock has rebounded from a rough patch over the last month. ENVV is in the middle of renaming itself as Black Cactus Holdings. The name change was spurred by the deal with Black Cactus and the business strategy that is now all-in on the blockchain.
“Uses of Blockchain Technology are almost endless. There exists a multi-billion dollar marketspace and we fully intend to use our first-mover advantage to secure numerous exceptional business relationships around the world,” commented CEO Lawrence Cummins. “The Blockchain is the most relevant technology that has been created in the last 25 to 30 years. We are quickly developing exceptional business relationships in the Asian, European and North American financial and media sectors and Black Cactus Global looks forward to announcing these major transactions later this month.”
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. (OTC Markets:ENVV) is a digital currency and Blockchain technology company. BitReturn, a division of the Envoy Group Corp., 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. Block Chain is an incorruptible publicly distributed digital ledger that allows for transparent and secure validation of online information.”
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Here is an important section from the press release:
As the initial stage in our strategy to become the premier Blockchain Technology company, we previously announced the launch of our Digital to Real Financial Trading Platform and our name change to Black Cactus Global, Inc. which will act as the parent company to a number of International operating centers that provide the Company’s vertical applications, development, and installations. Lawrence Cummins, the aforementioned new President and CEO was educated at Oxford University, Northwestern University, University of Pennsylvania School of Engineering and Harvard University. The company champions him is a true pioneer in Blockchain Technology who has dedicated the last 6 years in developing and trial testing numerous applications. Recently he was appointed as the Head of the United Nations Blockchain Commission.
Currently trading at a market capitalization of $31.33M, ENVV is in the middle of rebranding and an important strategy shift. Blockchain will now be its bread and butter. This not a bad move considering the possibilities of the technology, but ENVV will need to show investors some proof of concept here for confidence to remain high. Sign-up for continuing coverage on shares of $ENVV stock, as well as other hot stock picks, get 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.
