Agrieuro Corp (OTCBB:EURI) has been seeing explosive upward moves in recent weeks since trading as low as $0.02 earlier this month. The big moves on EURI come after the Company announced they are “expecting to harvest a record amount of reed this year, far exceeding our 2016 harvest. In spite of that, we believe that the harvest will be sold out well before it’s ready to deliver. ” said Mr. Monda, CEO of AgriEuro Corp.
EURI is way down since its highs at the height of the Elite Penny Stock Group promotion that took the stock to incredible $2.09 highs. Promoters of EURI; Elite Penny Stock Group operates the websites Finestpennystocks.com, Smartstockchoices.com, Bestamericanstocks.com and Elitepennystock.com, and mysoaringpennystocks.com, smartstockwinners.com and have 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 March 15 EURI announced it has finished preparing 2 growing ponds for its fish farm project. The ponds are fully equipped with pumping stations and will receive “cycle 2” fish. These are medium sized fish that only require a short period of time to attain maturity.
AgriEuro estimates that the product will reach fish markets within 12 months following population. The company will follow all regulations required to raise fish that can be labeled Organic. The Danube Carp will be the main species farmed on the property as it is a local fish which will easily thrive in the environment on offer. It also happens to be a type of fish that grows relatively quickly.
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Currently trading at a $23 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. The chances of a significant dead cat bounce on EURI are very high in the coming weeks. 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.