{"id":6287,"date":"2015-07-17T10:14:32","date_gmt":"2015-07-17T10:14:32","guid":{"rendered":"\/?p=6287"},"modified":"2015-07-17T10:39:34","modified_gmt":"2015-07-17T10:39:34","slug":"ev-charging-usa-inc-otcmktsevus-stunned-by-promoters","status":"publish","type":"post","link":"\/articles\/ev-charging-usa-inc-otcmktsevus-stunned-by-promoters\/","title":{"rendered":"EV Charging USA Inc (OTCMKTS:EVUS) Stunned By Promoters"},"content":{"rendered":"\n

In January 2010, the public company that we now know as EV Charging USA Inc (OTCMKTS:EVUS<\/a>) was looking for a business to acquire. It chose Milwaukee Iron Professional Arena Football LLC whose CEO, Andrew Vallozzi, received options to purchase some preferred shares. Less than a year later, however, the merger agreement was unwound and Mr. Vallozzi went on to pursue other business endeavors which eventually led to some legal issues for him.<\/p>\n

The public company, on the other hand, was left with no operations and it spent the next few years as a shell. In October 2014, another merger opportunity appeared on the horizon and the people who were then running EVUS<\/a><\/strong> decided to take it. A private entity called EV USA Charging Inc was acquired, the corporate name and trading symbol were changed, and the company officially entered the charging stations industry. <\/p>\n

Of course, this means that EVUS<\/a><\/strong> is no longer a shell which, in turn, should draw in quite a lot more investors. And those investors might be a bit confused after a few minutes of research. According to the latest 10-Q, EVUS<\/a><\/strong> is still in the “early stages of our development<\/em>”, but if you go through the most recent press release, you’ll see that the company is about to enter the “national and international sector<\/em>”.<\/p>\n

So, which is true? Is EVUS<\/a><\/strong> an early stage company with an ambitious business plan? Or is it about to become an internationally-recognized player?<\/p>\n

We reckon that the financial statement from the end of March should give you a definitive answer. Here’s a snapshot of the most important figures (the numbers are NOT in thousands):<\/p>\n