eCrypt Technologies, Inc. (OTCBB:ECRY) Is Still Pumped
eCrypt Technologies, Inc. (OTCBB:ECRY) stock prices rose 22.47% yesterday, as even more pump e-mails touting it hit the web.
As the charts indicate, this is just one of many jumps that have been made possible through the efforts of the notorious pumper StockTips in one of the most expensive paid pump campaigns the OTC Markets has seen in quite a while.
Although it is a fact that through the efforts of the SEC, pumps are becoming more and more rare on the OTC Markets, some due diligence reveals that, yes, ECRY does in fact exhibit all the traits of a classical paid pump. The promoter was compensated $5,100,000 to tout an extremely underwhelming company. A lot of people have jumped at the opportunity to play it. Some have even been convinced by the e-mails that this company is solid, in spite of the fact that its latest financial report yields the following meager numbers:
- cash & total current assets – $26 thousand
- total assets – $31 thousand
- total liabilities – $1.8 million
- NO QUARTERLY REVENUES
- net loss – $164 thousand
Long story short – investors should keep in mind that although playing ECRY may be a good opportunity for bold traders to make some quick cash, it is a monster of a paid pump, and as we all know, those have the tendency to turn ugly with frightening speed.