Replies to post #168 on General Enterprise Ventures Inc (GEVI)

[Immie]

wow I remember doing dd on this stock a while back especially when it was talking about


General Environmental Management Inc. Announces $.30 EPS with First Quarter 2010 Financial Results
General Environmental Management Inc. (GEM) (OTCBB: GEVI), a company specializing in the treatment and disposal of non-hazardous wastewater, today announced its financial results for the three months ended March 31, 2010. The company reported first-quarter GAAP (generally accepted accounting principles) earnings per share (EPS) at $0.30. For the first time in Company history, GEM has recorded a quarterly net income. Total net income for the quarter was calculated at $4,477,955.

Revenues for the first quarter are strictly from the Southern California Waste Water (SCWW) subsidiary, due to the discontinuation of all other segments of the GEM hazardous waste business during the first quarter of 2010. Revenues topped $1.46 million, up 28% from $1.14 million for the same time period in 2009. The new company direction to a primarily non-hazardous wastewater treatment driven business model provides the foundation to build a strong enterprise.

First quarter gross profits for 2010 were $172,769, down from $272,437 reported for the same time period in 2009. This reduction in 2010 gross profits is primarily attributed to a $150,000 one-time remediation expense to improve the facility in Santa Paula. Future quarterly results will not have recurring expenses from the facility's improvements. Monetary gain on the sale of the GEM Delaware facility and its subsidiaries equaled $8.687 million.

GEM operating expenses includes a non-cash charge in the first quarter totaling $380,000 related to the issuance of S-8 shares for business development. The current weighted average shares of common stock outstanding, basic, and diluted is 15,057,653.

Chief Executive Officer of GEM Timothy Koziol stated, “We are pleased with the results shown in our first quarter. For the first time in the Company’s inception we have positive net income. I firmly believe that the decision to pursue the non-hazardous wastewater strategy has been a wise one and look forward to building and developing our business model. While our financial statements only include the revenue through SCWW as footnotes, we expect that our 2nd quarter results will be more clearly defined as the non-hazardous wastewater treatment becomes our sole revenue source.”


Guess it was a hoax?

[liable]

I hope you have a big position here. How many class actions have you started? Each of your losses? That's a lot, it's easier to just do DD.

[queens9000]

I remember QualityStocks were promoting this stock around 10 cent area, then it kept walking down with huge sells using the fake news about positive EPS. I think alone with the incident, SEC should investigate on this company and QualityStocks who didn't disclose they were selling shares on pumping using the news. PennyStockChaser is already guilty of their pumping and selling shares with non disclosure. So I guess QualityStocks is also responsible for the similar legal situation as pennystockchaser faced.

If you want to report the company management and QualityStocks, go here;
http://sec.gov/complaint/selectconduct.shtml

and fill out to request SEC investigation. I don't think filing lawsuit is a option in my guess. If you're in the process of preparing the lawsuit in real, I guess every shareholder should join, nothing to lose.