Recycle Tech Desperately Tries to Pump Stock with More PR?
This is one I've been following on our TMFStockSpam account. There's something very funny going on here, with the paid pumping via several pump sites, one of them claiming it was paid in shares totaling about 5% of outstanding shares (according to the filings). If the filings are correct and the paid pumping site is telling the truth about how much it is receiving to pump this dreck onto the masses, it looks like there are only two entities that could have had enough shares to pay for the pumping.
One is Recycle Tech itself. The other is Joseph "shell game" Meuse, who is, according to his public bios all over the Internet, a Virginia specialist in shell companies and who, according to RCYT's 8k filings, still has about half the Recycle Tech shares.
I'd love it if one of these two entities would drop us a line and tell us who is paying to pump this company that has less cash on its balance sheet than your average pizza delivery guy has in his checkbook (and more debt.)
These pumpers are, in my opinion, nearly certain to be entwined with Recycle Tech itself (or ARE recycle tech) because as the stock has cratered, we continue to see meaningless PR both from recycle tech itself as well as alleged third-party sites. It's a mark of complete desperation by people whose pump effort is going bad before their eyes.
The PR is meaningless, detail-free garbage from an outfit run by the former head of a few now-defunct Florida businesses, including something called "Seekret Services." Yeah, Ryan Gonzalez is that kind of clever.
This latest venture, begun only in january, calls itself a "green" building company, but is really just promsising to sell converted shipping containers -- a type of housing that is widely available already -- especially in poor tropical countries, something that anyone can build, and something that people have been building for years. I'm pretty darn sure that there's not much intent to do anything here except sell worthless shares at inflated prices.
The pumping emails make it clear to me: someone or someones are planning to dump this, and by the volume over the past few days, they have been dumping these worthless shares on rubes.
Here are a few data dumps on the characters behind this promotion, which smells about as clean as a week-old, gutted perch.More suspicious activity with RCYT Recycle TechRecycle Tech crashing despite pumping and PR
Here's the latest bogus PR. Recycle Tech Announces 'Breaking Ground' Date For Its Overtown Initiative
Stuff like this makes me wish we could all red thumb these promotions. At least with TMFStockSpam, we can combat this kind of shady market garbage. The only thing better than knowing that stock promoters are sweating an expensive, failed pump is seeing them catch an SEC investigation later, something that's happened to several of the lousy, paid pumping companies we've profiled here in the past. The SEC is already getting email about this one.