Agrieuro Corp (OTCBB:EURI) is the latest pick from Elite Penny Stock Group that reached an incredible $2.09 before the entirely predictable collapse. The stock was recently slapped with the dreaded Skull & Crossbones designation from OTCMarkets, a sure sign that the end was near.
Elite Penny Stock Group operates the websites Finestpennystocks.com, Smartstockchoices.com, Bestamericanstocks.com and Elitepennystock.com, and mysoaringpennystocks.com, smartstockwinners.com and has taken over where APS left off.
Agrieuro Corp (OTCBB:EURI) bills itself as focused on the agricultural, aquaculture and tourism industry in Europe. The company’s flagship property is located at the junction of the Danube delta and the Black Sea and encompasses a variety of currently revenue-producing and soon-to-be producing businesses. It spans over 4,200 acres on a Unesco World Heritage site.
EURI plans to further develop the 1,709 hectares of land it owns in the Periteasca – Leahova area, on the administrative territory of Murighiol locality, Tulcea County, between the Black Sea, Grindul Lupilor and Lagoon Complex Razim – Sinoe, Romania. Such land is the basis of SRL conducting reed farming, fish farming and constructing then operating a luxury resort property, including a planned complex with bungalows/cabins on the Danube Delta.
The property acquired by the predecessor of the Company included significant infrastructure upgrades made in the late 1970’s and 1980’s to facilitate the reed harvest and aquaculture businesses, however, those infrastructure upgrades have not been properly maintained in the past two decades. As part of the 10 year concession agreement entered into in October 2014 with the local government in the Periteasca – Leahova area, the Company may extend its concession agreement a further 5 years if it invests a minimum of approximately $542,000 at December 31, 2014 exchange rates into upgrading the current structures on the property on or before October 2017.
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Last month EURI announced it intends to build an all-inclusive resort with a capacity of 620 accommodations which will become the largest resort on the Black Sea.
The company plans to build recreational areas for activities such as hunting, fishing, bird watching and water sports among others. A 4-building complex will host 120 accommodations while a holiday lake house complex will host 500 accommodations.
The area is attractive because of the delta’s particularly exotic landscape, unique features, mild weather and Unesco World Heritage Site status. The resort will be accessible by land, air and sea. The presence of several unused buildings the company owns will make the overall project cost cheaper as these can be renovated to host some of the resort’s facilities.
On December 2 EURI announced it has engaged Tehnomontaj, one of the largest construction firms in Romania, to design its resort project.
As part of the engagement, Tehnomontaj will complete a geotechnological study and design 2D mapping for the location, which includes the preliminary layout of the holiday cabins on a 5 acre island on the existing property that will be completely equipped with AgriEuro Corp reed roofs and solar panels. These cabins are to be designed to be fully green and energy-efficient and to blend in with the surrounding nature.
On December 7 SmartStockChoices Editor Lennie Richmond said ”I won’t sugarcoat things, EURI didn’t have a good week as it dropped from about 1.38 to 89 cents on heavy and continued short selling.
Some investors may not believe short selling was the cause of this drop but the reality is that the proof is publicly available. Finra’s reg sho list tells us that more than 4 million shares were sold short in the last 5 trading sessions.
If you own EURI, you may want to hang on to your shares a little bit longer because I expect that the shorts that came in last week will have to go back in the market and buy everything back this week and the run could start as early as today.
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Currently trading at a $229 million market valuation EURI has minimal assets or revenues and rising short term debt. The stock was subject to a massive multi-million dollar promotion from Elite Penny Stocks Group who took it to an incredible $2.09 high before OtcMarktes slapped EURI with the dreaded Skull & Crossbones designation. This represents a serious red flag and serves as further confirmation of where this one is headed if their last pick AREN current $0.02 share price was not confirmation enough. EURI Stock being liquidated into campaign is likely the 84 million shares obtained by a group of Investors who bought 2.1 million EURI at $0.01 prior to the 40-for-1 forward split in September. We will be updating on EURI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with EURI.
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Disclosure: we hold no position in EURI either long or short and we have not been compensated for this article.