Black Cactus Global Inc (OTCMKTS:ENVV) is ostensibly a stock in the cryptocurrency space. It is perhaps the most direct example of the froth in that market at present. We now have Bitcoin futures trading on the CBOE, and next Sunday evening, they will be trading on the CME as well. As we had forecast, that is leading to a huge amount of new speculation in the space because it is likely to spur the creation of a number of crypto-focused hedge funds. But the move in ENVV is interesting as an artifact of this process.
The company just announced that Dr. Ravindranath Kancheria has joined the Company’s Board of Directors. According to a description from the company, “Dr. Kancheria is a distinguished and internationally recognized Gastrointestinal Endosurgeon and a Fellow of both the Royal College of Surgeons of Edinburgh and Glasgow.” What any of this has to do with the company’s business plan is entirely beyond us. In any case, it’s a stock somehow related to bitcoin, so… whoohoo.
Black Cactus Global Inc (OTCMKTS:ENVV) bills itself as a company that, through a division (BitReturn), has first targeted a high positive cash flow method of Mining of Digital Currencies that has been de-risked by employing the most effective Graphic Processor (GPU) technology and BitReturn’s secure Tier3 (T3) facility in Kamloops, B.C. Hundreds of 7 to 13 GPU arrays will be working 24/7 within the climate controlled facility.
Mining of Digital Currencies will be constantly directed to which currencies provide maximized profitability. New digital coins drop into the world every 10 minutes and BitReturn will be there to catch them.
According to company materials, “Envoy Group, Corp. (OTC Markets:ENVV) is a digital currency and Blockchain technology company. BitReturn, a division of the Envoy Group Corp., has first targeted a high positive cash flow method of Mining of Digital Currencies that has been de-risked by employing the most effective Graphic Processor (GPU) technology and BitReturn’s secure Tier3 (T3) facility in Kamloops, B.C. Hundreds of 7 to 13 GPU arrays will be working 24/7 within the climate-controlled facility. Mining of Digital Currencies will be constantly directed to which currencies provide maximized profitability. New digital coins drop into the world every 10 minutes and BitReturn will be there to catch them. Block Chain is an incorruptible publicly distributed digital ledger that allows for transparent and secure validation of online information.”
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According to the release, Dr. Kancheria is the founder and Chairman of Global Hospitals Group, India’s first multi-organ transplant center. The doctor’s specialized field has led him to work at numerous hospitals in the U.K. as well as serving as a guest faculty in Germany, Italy, Japan, India and the U.S. Dr. Kancheria has been the recipient of several Lifetime Achievement awards in India.
The communication continues to announce that, “in addition to his significant medical achievements, Dr. Kancheria has led an array of philanthropic initiatives, including the construction of a high school in an underserved district, Housing Facilities in under-resourced communities, and a hospital for the poor. Dr. Kancherias’ years of research and practice will be of critical importance to Black Cactus Global as we develop Blockchain healthcare applications to improve patient care, data, trials and security.”
Again, we cannot imagine what this has to do with the company’s stated business plan. It’s as if Apple announced the addition of a botanist to its board. But, who cares.
Lawrence Cummins, CEO of the Company, stated, “We are honored to have Dr. Kancheria join our board. The doctors’ high profile and outstanding experience will help facilitate our Blockchain solutions in the Medical Industry as well as greatly assist in securing of numerous significant opportunities in India’s’ fast growing market space.”
Traders should note that this stock has a relatively small trading float of not even 24M shares, which may be augmenting the action here.
At this time, carrying a capital value in the market of $104.2M, ENVV has virtually no cash on the books, which is balanced by about $444K in total current liabilities. One should also note that debt has been growing over recent quarters. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $ENVV stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ENVV, either long or short, and we have not been compensated for this article.