Ecrypt Technologies Inc (OTCBB:ECRY) Calms Down a Bit

As you probably know already, Ecrypt Technologies Inc (OTCBB:ECRY) is Stock Tips’ newest pick and it’s being pumped for a reported budget of $5,100,000. As is often the case, the pumpers put the colossal amount of money to good use. A person who calls himself Mike Statler has been sending out some emails in which he calls everybody “boys and girls” and he has also put together a ten-minute long video. In it, he speaks about anything from castles and catapults to cyber security and President Obama.

It’s pretty clear from the last couple of sessions that the touting is having a massive effect on ECRY‘s performance. Friday ended with a whopping 150% in gains and a dollar volume of almost $10 million. Yesterday’s session was a bit calmer, but the ticker did manage to add another 8% to its market cap while investors traded more than $2.2 million worth of shares. ECRY is currently sitting at $0.36 per share.

The profit opportunity was huge during the last two trading days and we’re quite sure that some of the more experienced traders have already pocketed considerable amounts of money. The increased interest, however, means that there are also people who might be wondering if they should believe Mr. Statler and his promises of wealth and fortune. If you are one of them, we will now list some facts that should make the process of reaching an informed decision a little bit easier.

First of all, we would like to note that although the person voicing the aforementioned video presents himself as Mike Statler, that’s not his real name. How do we know? Stock Tips were kind enough to tell us in the annoyingly fine print under the video that Mike Statler is, in fact, a fictional name. The disclaimer also says that the video has been voiced by an actor.

So, if you really want to invest in ECRY for the long run, you have to put your money on the line based on nothing more than suggestions coming from an actor who is reluctant to tell us his real name.

But while we don’t know what Mr. Statler’s name is, we do know a thing or two about his stock picking skills. Back on September 29, for example, he said that Alkame Holdings Ins (OTCMKTS:ALKM) is “the best company” he has ever featured. On the very same day, “the best company” he has ever featured slashed a quarter of its market cap and closed the session at $0.17. Right now, less than two months later, “the best company” he has ever featured is sitting at $0.07 per share. And if you think that’s bad, you should definitely check out what happened to Pingify International Inc (OTCMKTS:PGFY) (a link to our article can be found here).

So, the people jumping in at the moment are doing it because of suggestions coming from an unnamed actor whose track record is nothing short of catastrophic.

But even if you disregard Mr. Statler (or whatever his name is), you mustn’t forget that if you are buying at the moment, you’re putting your money in a company that had less than $26 thousand in the bank and a working capital deficit of more than $1.8 million a couple of months ago.

The risks, as you can see, are significant and considering them carefully is crucial. Before we leave you to it, however, we would like to draw your attention to ECRY‘s historical performance. Once you check out the figures, you’ll see that back on November 28, 2011, the ticker peaked at $1.01 per share. Three weeks later, it was sitting at just $0.34.

Care to guess what the reason for the drop was?

That’s right, there was a paid pump.