GeoInvesting is still trying to locate shares to short Elite Data Services (DEAC) as the stock broke $1 to the downside. In our March 12, 2015 e-mail, we stated we would begin tracking Elite Data Services as a possible pump and dump due to heavy promotional activity that started back in December 2014 as shares were beginning to break down to the $1 level.
Pump and Dump Promotion
Several well known pump and dump promotional newsletters have been pumping the stock since December of 2014. The pump campaigns coincide with news that the company engaged EraStar to perform investor relations services with payment consisting of cash and potentially up to around 2 million shares of stock, although the company is generating virtually no revenue and as of Q3 2014 only has $1,600 in cash.
DEAC claims to operate in a sexy industry:
“The Company is engaged primarily in the marketing and advertising sector pertaining to the following: www.classifiedride.com (“ClassifiedRide”) and www.autoglance.com ( “Autoglance”). Launched to the public in February 2012, ClassifiedRide’s platform was designed to revolutionize the selling and buying for online automotive markets.”
The company is in dire need of capital:
“The Company expects significant capital expenditures during the remainder of the year and for the upcoming year of 2015. We anticipate that we will need approximately $2,000,000 for operations for the next 15 months to effectively deploy our business plan and develop our projected revenue stream to sustain profitable operations. The Company presently does not have any available credit, bank financing or other external sources of liquidity.”
We will continue our due diligence as we attempt to locate shares to short.
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