eCare Solutions, Inc. (OTCMKTS:ECSL) Reaches Record Prices

[[tagnumber 0]][[tagnumber 1]][[tagnumber 2]] [[tagnumber 0]]On Friday the stock of eCare Solutions, Inc. (OTCMKTS:ECSL) was able to break through its previous 52–week record of $2.50 after the company registered a gain of 9% and closed at 2.59, just short of its new record price of $2.60. The outcome of the session may have been rather encouraging but the performance of the stock during the trading hours was far from it. In early trading the ticker slumped down to $2.11 per share and although it recovered it still remained at the levels of its previous close. The positive surge came just before the closing bell.[[tagnumber 2]] [[tagnumber 0]]In our previous article we also warned you that the company didn’t file its quarterly report for the period ending September 30 on time leading to their OTCMarkets profile being marked with the Pink Limited information sign. Well, on that very same day [[tagnumber 6]]ECSL [[tagnumber 7]]finally published the financial report and resolved that issue. The new financial information for the company shows a couple of improvements:[[tagnumber 2]] [[tagnumber 0]]• $44 thousand cash[[tagnumber 10]]• $521 thousand total current assets[[tagnumber 10]]• $125 thousand total current liabilities[[tagnumber 10]]• $128 thousand sales[[tagnumber 10]]• $392 thousand net loss[[tagnumber 2]] [[tagnumber 0]]As you can see the company now has at least some cash reserves (at the end of June they had ZERO cash). The issuance of shares has also been minimal and as of September 30 there were 57 million outstanding shares compared to the 56.5 million outstanding on June 30. However in the past [[tagnumber 6]]ECSL [[tagnumber 7]]has issued millions of shares at prices ranging between $0.05 and $1. At the current market price even the more expensive shares could still bring massive profits to their owners. Despite the better numbers the balance sheet is still not capable of even remotely supporting [[tagnumber 6]]ECSL’s [[tagnumber 7]]current market cap of over $146 million.[[tagnumber 2]] [[tagnumber 0]]The reason why [[tagnumber 6]]eCare [[tagnumber 7]]surged to such over–inflated valuations were their latest press releases. First on October 31 they announced that their Singular 96 product was certified by the Olsen Ecologic Engine Testing Laboratories followed by the November 17 announcement that their [[tagnumber 6]]EcoFlex 96 alternative fuel[[tagnumber 7]] has been approved for sale in Florida. These are undeniably major events for the company but investors might want to wait for the first distribution deals to be announced before committing to any trades.[[tagnumber 2]] [[tagnumber 0]]At the moment [[tagnumber 6]]ECSL [[tagnumber 7]]is sitting at rather unstable price ranges that are supported solely by the company’s PR messages. Do your own due diligence and weigh all the risks before putting your money on the line. [[tagnumber 2]]