Ecosciences Inc (OTCMKTS:ECEZ) is Not Done Just Yet
It might not look like it, but Ecosciences Inc (OTCMKTS:ECEZ) is the target of a rather substantial promotional campaign at the moment. It has been for quite a while, actually.
The first emails started flying around way back in November 2014. In May, Andy Carpenter from the Wall Street Revelator put together a landing page which is alive and kicking today and it’s still being distributed around by small newsletters like Trade of the Week Financial. At $350 thousand, the budget is not exactly immense, but it’s not to be sniffed at, either. In light of this, the stock’s performance is somewhat strange.
Andy Carpenter is a prominent name in the penny stock promotional world, and when you couple his (somewhat shady) credentials with a substantial amount of money spent on a pump, you normally expect to see a lot of volume, excitement, and many wild swings. ECEZ hasn’t experienced any of these things. There have been some spikes over the last few months, but the ticker has failed to find a place among the more heavily traded penny stocks for a longer period of time. ECEZ‘s price movement wasn’t as exciting as people hoped, either. The ticker did reach a 52-week high of $0.75 in May, but that turned out to be the uppermost limit. It has slid down quite a bit since then.
That said, the crash hasn’t been as violent or as horrific as the one experienced by other promoted stocks (including ones that have been pumped by Mr. Carpenter himself). What’s more, the ticker seems to be going up at the moment. The last red session was logged last week and since then, it has managed to run from $0.30 all the way to $0.46. The volumes seem to be picking up as well which suggests that more and more people believe in the stock’s ability to put up a more steady performance in the future.
Their positive attitude is partly due to a press release from Monday in which ECEZ talk about the Environmental Good and Services Report written by International Trade Center (ITC). According to ITC, the market for environmental goods and services will be worth $1.9 trillion in a few years’ time and ECEZ seem confident that they can take advantage of this.
You might be taken by these claims, but it must be said that in light of the latest 10-Q, they sound ambitious at best. At the end of February, ECEZ had:
- $4 thousand in the bank
- $10 thousand in total assets
- $378 thousand in total liabilities
- less than $5 thousand in quarterly revenues
- a quarterly net loss of $20 thousand
So, the balance sheet might put you off, and once you check out his track record, you’ll see that Andy Carpenter’s pump might also be a cause for concern. Yet, as we mentioned already, the increased volumes from the last few days suggest that people have looked into the company and they have decided that these two factors aren’t really enough to stop ECEZ.
They probably have their reasons to believe so, but that doesn’t mean that they should skip on the due diligence. If they do, they might miss the fact that a few years ago, some people received nearly 57 million shares (adjusted for the stock split from 2014) for just over $11 thousand. The details can be found in our previous articles.
About twenty-five minutes after today’s opening bell, ECEZ is a further 1% in the green.
