I have received quite a few emails about ECCI over the past week, and decided to take a look over the weekend. At first glance, ECCI looks to be a bloated stock with few prospects for upward action. Stocks that are at this level are usually here for one reason, and it's not from investors selling this security. It's called dilution. With 10 billion shares authorized and 5,648,498,532 outstanding as of Nov 29th, it looks like the company has been busy flooding the market with shares over the past few years. But we have seen what can happen with other stocks with similar or larger share structures, and it's quite possible ECCI may see a possible move to the upside. Here is why: The company filed a 15-12g on Nov 20th, 2009 after a 2 year hiatus(http://ecoloclean.com/ECCI.pk-15%28c%292-11%20Info-Stmt.pdf)
. They also released news on Nov 25th(see below). Obviously this could cause some speculation of further communication from the company. Couple that with the increased volume over the past few trading sessions, and the fact that the chart looks eerily similar to HESG before it's run, and we could have a nice move here. Will watch for a break of the .0002 level by later today or tomorrow.
CRYSTAL CITY, Texas, Nov 25, 2009 (GlobeNewswire via COMTEX) -- Ecoloclean Industries, Inc. (Pink Sheets:ECCI) is pleased to announce that it has completed and posted a 15c2-11 Company Information and Disclosure Statement which is now viewable on the Company's website, www.ecoloclean.com, under the "Filings" Menu. The statement provides interested parties with easily accessible and expanded corporate information on Ecoloclean Industries, Inc.
The 15c2-11 is a compilation of corporate information intended to more thoroughly disclose corporate information to shareholders, prospective shareholders, and the investing public.
ABOUT ECOLOCLEAN INDUSTRIES, INC.
Ecoloclean Industries, Inc. (Pink Sheets:ECCI) is the owner of two wholly owned subsidiaries, Ecoloclean, Inc. and World Environmental Te3chnologies, Inc. and provides environmental waste remediation. For more information about the Company, please visithttp://www.ecoloclean.com.
FORWARD LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performances, such statement are forward looking with the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements and other forward-looking statements are not guarantees of future performance and involve risks and uncertainties.
The Company assumes no obligation to update any of the forward-looking statements contained in this release.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Ecoloclean Industries, Inc.
By Staff
CONTACT: CONTACT: Ecoloclean Industries, Inc.
Investor Relations:
Michael Biddick
(858) 245-5848
michael.biddick@gmail.com
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3 comments:
big float ... took a starter... thanks
IM IN
with the amount of shares ecci has floating around its gonna be hard to increase its stock price. Im waiting to see if they anounce a reverse split of share reduction
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