ENGY - Enviro-Energy Corporation (ENGY)

[growacet]

Why Sell ENGY???

I was going to ask, 'Why Buy ENGY'...but that's too difficult a question for me to answer. Instead I thought I'd ennumerate the reasons I think shareholders may have been deciding to sell. For the purposes of brevity I'll confine myself to the Oct. 16-Nov 26, 2003 time frame.

Price
The PPS had fallen to about .0050 (1/2 a penny) by Oct. 16/17 and I can certainly see shareholders deciding to get what they can for their shares, fearful that they might decline even further.

Fundamental Picture
John (jmhollen) recently provided an excellent snapshop of both the industry in general, and the company in particular, (post 169 on this thread). Given the fundamental picture being as bearish as it is...well I can certainly see why shareholders might decide to sell based on these fundamental realities.

Late Financials & MRQ results
On Nov. 14 nofication was filed that the quarterly filing would be late...and even after they came out, they were nothing to crow about in my opinion.

The Web Site
Previously it was simply horribly out of date in my opinion. Now its not available at all. I can certainly see that causing fear, uncertainty and doubt among current shareholders.

Tax Loss Selling
Nuff said.


From Oct. 20/03 to present I show around 60 million shares as having been reported traded. Where that volume came from...well given the above noted points I can see why shareholders may have been bailing.

What I can't answer is why there was sufficient buy side interest for the PPS to rise off its low of about 1/2 a cent to be currently trading around a full cent. If there had been some PRs, a webcast interview...some promotion of some kind to attract investors then it would be far easier to explain in my opinion.

I know John (jmhollen) has offered up that perhaps MMs had a few martinis over lunch, which in my opinion is an post more befitting Raging Bull than I-Hub. I don't think its 'manufactured' volume becuase...as I've said I think there's ample motivation for shareholders to have been selling.

But sellers do need buyers. Anyway, here's hoping that those who have been buying do well with their investment