{"id":6878,"date":"2015-09-16T14:14:14","date_gmt":"2015-09-16T14:14:14","guid":{"rendered":"\/?p=6878"},"modified":"2015-09-16T14:39:27","modified_gmt":"2015-09-16T14:39:27","slug":"eventure-interactive-inc-otcbbevti-closes-flat","status":"publish","type":"post","link":"\/articles\/eventure-interactive-inc-otcbbevti-closes-flat\/","title":{"rendered":"Eventure Interactive Inc (OTCBB:EVTI) Closes Flat"},"content":{"rendered":"\n

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After surging upwards for four consecutive sessions yesterday the positive momentum behind Eventure Interactive Inc (OTCBB:EVTI<\/a>) lost its strength. The stock experienced a rather turbulent session but still managed to close flat at $0.0031. Inspired by the recent recovery investors are still hoping that today the company will resume its course towards higher price ranged but will this indeed be the case?<\/p>\n

Back in May EVTI<\/a>‘s <\/strong>market price moved between 11 and 12 cents per share. As you might have probably realized already currently the company is sitting deep into the double-zero prices. This means that in just a couple of months Eventure <\/strong>wiped around 97% of their value. The primary cause for the drastic depreciation could be the crushing dilution of the common stock.<\/p>\n

At the end of 2014 EVTI<\/a> <\/strong>had 25 million outstanding shares. Less than 5 months later, as of May 18, that amount had more than doubled to 61 million outstanding shares. Although an increase of 144% is quite alarming even by itself it pales in comparison to what happened in July and August. In those two months through the conversions of debt EVTI<\/a> <\/strong>issued 237 million shares at an average price of $0.0022<\/strong>. As of August 19 there were 304.7 million outstanding shares.<\/p>\n

As of June 30 EVTI<\/a> <\/strong>had over $1.1 million in convertible notes with another $365 thousand convertible notes being sold in July. It is true that some steps to put the debt structure under control have been taken with around $550 thousand in convertible debt being retired at the start of August. The company also decided not to increase its authorized shares to 2 billion and to terminate its equity purchase agreement with Aladdin Trading, LLC. under the terms of which Aladdin could buy shares at a 50% discount. The problem is that the amount of the remaining debt is still quite substantial and the dilution could continue. Especially if you take into consideration that after a restricted period of six months the newly issued notes can be converted at discounts ranging from 38% to 50%.<\/p>\n

Now, add to the mix the fact that EVTI<\/a> <\/strong>finished the second quarter of the year with $348 in revenues and a net loss of $2.6 million<\/strong> and things get even more discouraging. Despite the serious red flags the current hype could be able to push the stock even higher.  <\/p>\n

In early trading today the stock is surging upwards currently sitting over 12% in the green at $0.0035.<\/p>\n","protected":false},"excerpt":{"rendered":"

After surging upwards for four consecutive sessions yesterday the positive momentum behind Eventure Interactive Inc (OTCBB:EVTI) lost its strength. The stock experienced a rather turbulent session but still managed to close flat at $0.0031. Inspired...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1502],"class_list":["post-6878","post","type-post","status-publish","format-standard","hentry","category-news","tag-evti"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6878"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6878\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}