EWRC - Warrants Out For CEO's Arrest, Authorized Shares Raised to 12 BILLION, Company Is DEFAULT At SOS, Who Is Buying This Stock?

EWRC continues to trade well above its Guru fair value of $0. I have no place in my penny stock portfolio for a stock that is once again default with its secretary of state, has just raised it authorized shares to 12 BILLION, and whose CEO is being pursued by law enforcement officials.

I find it odd that any one would find a stock, with so many troubles, a stock that has milked investors in every week of its existence, a stock with such a vast quantity of share outstanding, a stock with a CEO who has just plain lied, appealing?

Check out the recently updated share figures at pink sheets. The numbers just keep growing.

• Outstanding Shares

  6,573,871,191 as of Dec 18, 2009

• Authorized Shares

  12,000,000,000 as of Dec 18, 2009

• Float(shares)

  5,743,864,946 as of Dec 18, 2009

As long as there are suckers willing to buy this stock the EWRC's of the worlds will continue to exist.

Just like you EVFL/EVFN bagholders who failed to heed the Guru's advice. The same holds true for EWRC. Stay away or risk losing your entire investment.