Enviro Technologies US Inc (OTCMKTS: EVTN) was up over 500% on Wednesday trading just over $800,000 in dollar volume after Ecoark Holdings, Inc. NASDAQ: ZEST divested its wholly-owned subsidiary, Banner Midstream Corp via a reverse merger into EVTN. Enviro will issue 12,996,958 shares to Ecoark in exchange for 100% of the issued and outstanding common stock of Banner to result in a 70% retained ownership for Ecoark at closing. Ecoark intends to affect a 4:1 forward stock split of Enviro to allow for an approximately 1-to-1 stock dividend of Enviro to Ecoark’s shareholders of a future to be determined record date. Banner reported $18.75 million in revenues or its most recently completed year-end on March 31, 2022. According to management this is the first step in Ecoark’s goal of building Banner into an attractive oilfield services company.
Reverse merger stocks can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. EVTN has a lot of room to grow from current levels and is a perfect merger candidate; fully reporting SEC filer EVTN has just $1.5 million in total liabilities and is already doing about $40,000 a quarter in sales from its Voraxial Separator, a unique separation technology that efficiently separates large volumes of liquid/liquid, liquid/solids or liquid/liquid/solids fluid mixtures with distinct specific gravities. Current and potential commercial applications and markets for the V-Inline Separator include mining, utilities, manufacturing, utilities, waste-to-energy among other industries.
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Enviro Technologies US Inc (OTCMKTS: EVTN) a Florida corporation founded as a high precision manufacturer for various industries including aerospace and automotive, manufactures the V-Inline Separator. The V-Inline is a unique inline turbo-separator that provides a cost-effective method to efficiently separate large volumes of solids and liquids and without the need of a pressure drop. The V-Inline requires less space, energy and weight than conventional separators processing the same volume. EVTN incorporates the V-Inline to design wastewater systems to treat a wide range of contaminated fluid streams for various industries.
Whoa this is big!! $EVTN reverse merger with Banner Midstream Corp, a subsidiary of a NASDAQ company $ZEST
Banner had annual revenues 18.75M now going in EVTN!! 🛫🚀🛸
EVTN current O/S is only 5.5M 👀 plus the 12.9M issue to ZEST for the purchase of Banner after closing. pic.twitter.com/kR3tcm6Dd5
— Stock Picks NYC (@StockPicksNYC) August 24, 2022
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The new Company; Banner Midstream is engaged in oil and gas exploration, production, and drilling operations on over 20,000 cumulative acres of active mineral leases in Texas, Louisiana, and Mississippi. Banner Midstream also provides transportation and logistics services and procures and finances equipment to oilfield transportation services contractors. Currently banner operates 4 subsidiaries including Shamrock Upstream Energy, Pinnacle Frac Transport, Captsone Equipment Leasing, and White River Holdings, Corp.
As part of the transaction Enviro will issue 12,996,958 shares to Ecoark in exchange for 100% of the issued and outstanding common stock of Banner to result in a 70% retained ownership for Ecoark at closing. Ecoark intends to affect a 4:1 forward stock split of Enviro to allow for an approximately 1-to-1 stock dividend of Enviro to Ecoark’s shareholders of a future to be determined record date. The closing of the transaction is subject to various regulatory filings required for reverse mergers which filings will commence following the closing. Additional details on the transaction will be provided at a future date via a Form 8-K to be filed by the Company with the definitive agreement and other transaction documents.
$EVTN no one is selling right now. Waiting for people to come back to this today. pic.twitter.com/et9B7Sxjja
— Andreas knudsen (@Andreasaakn) August 24, 2022
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Currently rocketing up the charts EVTN is a Nasdaq revere merger spinoff from Ecoark Holdings, Inc. NASDAQ: ZEST. Banner reported $18.75 million in revenues or its most recently completed year-end on March 31, 2022. According to management this is the first step in Ecoark’s goal of building Banner into an attractive oilfield services company. Reverse merger stocks can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and we have covered many on the website that have gone from pennies to dollars. EVTN has a lot of room to grow from current levels and is a perfect merger candidate; fully reporting SEC filer EVTN has just $1.5 million in total liabilities and is already doing about $40,000 a quarter in sales from its Voraxial Separator, a unique separation technology that efficiently separates large volumes of liquid/liquid, liquid/solids or liquid/liquid/solids fluid mixtures with distinct specific gravities. Current and potential commercial applications and markets for the V-Inline Separator include mining, utilities, manufacturing, utilities, waste-to-energy among other industries. We will be updating on EVTN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with EVTN.
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Disclosure: we hold no position in EVTN either long or short and we have not been compensated for this article.
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