Friday, December 18, 2009
EWRC - The Comedy Resumes - New Filings Out At Pink Sheets
The new filings from EWRC today just confirm this company is nothing more than a money sucking machine. When you take these filings alongside EWRC's recent press, you just have to laugh. Obviously the $125 million buyout has to be right up there as the most outrageous, the Guru was on top of that lie right from the start.
For the first 9 months of this year EWRC's revenue was $0. They made $0. Now check out the expenses. $3,388,584 in expenses over the same course of time. $2,799,230 of which was for consulting. How much consulting is required for a company with ZERO revenue? SInce the companies inception they've churned through almsot $8 million to create a whopping $32,000. How is that for management? That is really called mismanagement, or outright ABUSE.
As I have said before EWRC exists for one reason. To sell shares to investors who don't have the time or the brains to see what EWRC is really all about.
The simplest representation I can come up with is the EWRC long term chart, which is what I leave you with today, and it didn't take $2,799,238 to craft, I did it for free. It shows how an investor who purchased shares just two years ago, would need EWRC to go from $.0002 to $24,000 just to BREAK EVEN!