MyEcheck Inc (OTCMKTS:MYEC) Fueled by Speculations

In the last several sessions MyEcheck Inc (OTCMKTS:MYEC) has more than doubled. However, this resurgence seems to be fueled by speculations, rather than solid facts.

Yesterday MYEC closed up 21.95% at a penny per share. The volume almost reached 100 million shares.

Unlike Xumanii, Inc. f/k/a Medora Corp (OTCMKTS:XUII) or Arch Therapeutics Inc (OTCBB:ARTH), MYEC doesn’t seem to be promoted by a big pumper outfit, nor could we find a paper mailer or landing pages touting the stock. MYEC was mentioned in a newsletter recently, but there was no compensation, and such mentions rarely affect trading.

What’s more, there haven’t been any announcements coming from the company itself. The latest filing dates back to May 29 and it doesn’t offer anything particularly exciting for shareholders.

Back in April, MYEC issued a number of press releases claiming it had signed agreements with four companies which suggested it could generate some revenues. Around the same time there were a few cheap paid pump campaigns but ultimately there was a limited market response at the time.

MYEC terminated its filing obligations with the SEC in 2012, and there are no filings to provide any kind of details on the supposed agreements. If those agreements are real and MYEC starts to generate revenues there maybe some basis for excitement, but getting hyped up about it at this point could prove premature.

Some years back, MYEC was generating revenues, but a quick look through their financial reports reveals the company didn’t manage to make a profit. With the current lack of information any investment decision about MYEC would be a shot in the dark.