eCare Solutions, Inc. (OTCMKTS:ECSL) Takes A Step Down
eCare Solutions, Inc. (OTCMKTS:ECSL) wiped nearly 10% of its market cap yesterday in what looks like one of its usual pullbacks.
Looking at the charts, an analyst is apt to conclude that ECSL investors are well pleased with the company’s achievements. The ticker has had a smooth sail up the charts since the beginning of November, with small but regular daily gains contributing to its lasting climb and very few steps back. Before this latest stumble, it had added about 200% to its market value in one month, achieving a new 52 week high of $3.10.
Which is a bit odd, because the company doesn’t really have all that much to brag about. Its latest financial report wasn’t strictly terrible, but was somewhat underwhelming:
- Cash – $44 thousand
- Total current assets – $521 thousand
- Total current liabilities – $125 thousand
- Revenues – $128 thousand
- Net loss – $392 thousand
Not terribly impressive numbers. This being the case, the only thing the that ECSL can really boast about is the fact that its alternative flex fuel EcoFlex 96, was approved for sale in Florida. However, no distribution deals or orders have been announced yet, and the company’s product is yet to be approved in California.
This more or less means that the company’s climb, although it is lasting, isn’t really based on anything substantial. Which is a clear indicator that the ticker’s position isn’t really stable, and thus ECSL investors may be in for something more rough and dramatic than a one-time 10% pullback in the near future.
