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Pestilence In The Penny Market
A First Look At Press Ventures (PVEN)

September 4, 2013: Newly ordained Pump & Dump subject Press Ventures (PVEN), a new one man show, has begun what we expect to be a major promotional campaign, so it's time to take a look at just how this scheme came into being. This stock has a very short trading history, just over a week in fact, so most of the stock is still held by insiders, a reason for concern and yet the raison d'etre for the current campaign.

PVEN  is represented by law firm Greenberg Traurig, a firm with deep ties to some recent Awesome Penny Stocks Pump & Dumps, having represented Xumanii (XUII), World Moto (FARE), and Swingplane Ventures (SWVI).  This firm seems to have taken over where now defunct firm, Carrillo Huettel has left off.

Purportedly located in Warsaw, Poland after stints in the Canadian cities of Calgary and Thunder Bay, the move smells of a need for distance from the law arm of the law. Of course Poland does brings the company at least the facade of immunity from legal action and certainly offers current company President and Polish national, Edward Denkiewicz, a certain amount of security from civil or criminal prosecution, which is disconcerting in itself.  When the sole corporate officer cannot be held accountable, red flags should be flying all over the place.

PVEN purports to own the worldwide rights (but not the actual technology) to the patented Cedar Leaf Oil Diffusion ("CLO-D") technology for the use of natural non-human harming vapors to kill bacteria, mold, and viruses in buildings. The problem with owning rights rather than the tangible asset is that rights can be taken away for any number of reasons, for example, non-performance. The loss of "rights" is common in companies which obtain them for the sole purpose of conducting a Pump & Dump scheme, once the scheme has run its course.

The insiders who control nearly every share of this company, acquired their stock for next to nothing.  At the current share valuation, insiders have profited, at least on paper, massively, more than any retail investor could ever hope. For their new-found riches, the insiders have contributed absolutely nothing.  The following is the history of the creation and residency of the shares of the company:

1) Prior to the S-1 filing, then company President, Caroline Johnston, acquired the initial 5.5 million shares of the company for $22,000, or a price of $.004 per share. The law firm filing the S-1 was Synergy Law Group of Chicago, Ill and specifically, attorney Kristen Baracy. Ms. Baracy was also the attorney, probably not coincidentally, who worked on the S-1 Registration Statement for recent long term Pump & Dump subject Arch Therapeutics (ARTH).

2) Upon the filing of the S-1 registration statement, 2.8 million shares were offered at $.01 bringing the total issued and outstanding to 8.3 million shares at an average price of $.006024 per share. As of January 10, 2012, all the stock was distributed among 30 shareholders.

3) On June 18, 2012, Caroline Johnston's initial 5.5 million shares were purportedly sold to Lynda Cambly, the company's new President, for an undisclosed amount.

4) On April 17, 2013, William Garduque became President of the company. There is no record of the shares of the company having been transferred away from Lynda Cambly at that time.

5) On May 3, 2013, the company effected a 50 for one forward split of its stock, bringing the total issued and outstanding to 415,000,000 shares, while raising the authorized number of shares to be issued to 5 billion.

6) On August 13, 2013,  Edward Denkiewicz becomes President of the company, seemingly without any effect on the 275 million shares held by Lynda Cambly.

7) On August 19, 2013, the company entered into a license agreement with Biosafety Systems.  In the transaction, Biosafety was the recipient of 170,000,000 transferred shares of the company stock.  As this was not newly created stock, it could only have come from Lynda Cambly's stash. By the company's own filing, "The common stock issued to BioSafety had a contract stated value of $230,000". This translates to a share value of $.0013529 per share. As of Tuesday's close, those shares were trading at $.265, meaning that in two weeks the stock received by Biosafety now has a value of  $45,050,000, representing 19,450% appreciation. 

On August, 26, 2013, Lynda Cambly filed a Form 4 indicating that she had disposed of 270,000,000 shares.  If we assume that 170,000,000 shares went to Biosafety, we still don't know what happened to the other 100,000,000 shares (but we can guess what's about to happen to them). For her troubles, Ms. Cambly, who was obviously just a nominee of the perpetrators of the coming fraud, got to maintain 5,000,000 shares, with a current value of of over one million dollars.

PVEN's current market cap of almost $110 million is ridiculous considering that as of July 31, 2013, it had zero assets, zero revenues and zero operating expenses. The company's purported asset, "the global sales and marketing rights to a patented all-natural essential oil disinfectant and diffusing system that has been shown to effectively combat and eradicate infection from molds, fungus, and airborne viruses", while fanciful and sophisticated sounding,  was acquired just last week and has never reported generating a single dime in revenues.

Caroline Johnston's initial $22,000 investment of 3 years ago, which was then transferred to Lynda Cambly and subsequently to Biosafety Systems and others, is now valued at a ridiculous $72.875 million. The shares registered under the S-1 statement and that were sold for a collective $28,000, are now valued at an equally ridiculous $37.1 million.

The increased valuation in the shares has nothing to do with any work product or asset value. As the stock was acquired for virtually nothing, the insiders can sell their stock for fractions of the current share price and still see massive profits.

None of PVEN's Presidents, Caroline Johnston, Lynda Cambly, William Garduque or Edward Denkiewicz seem to have any prior or more recent experience with any public company, in any capacity, and except for the recent acquisition of rights from Biosafety under Denkiewicz's watch, no noteworthy accomplishments can be listed.  The passing of the torch from do-nothing novice to do-nothing novice certainly suggests that an unnamed puppeteer is pulling the strings at PVEN.

This one has danger written all over it and we advise strongly enough that you keep your hands in your pockets, even more vigilantly than usual. And stay tuned as we look for more skeletons in this closet.