The last SEC filing on ECIC says that it ceased operations Dec., 1997 and that as of Sept. 30, 1998 its liabilities of liabilities of $10,652 exceed its cash resources!! LOL This "company" has less cash than my 10 year old.
<<Management's Discussion and Analysis or Plan of Operation.
The following discussion relates to the unaudited financial statements for the three-month periods ended September 30, 1998 and 1997, which are included in Item 1 above.
Basis of presentation: The financial statements as of September 30, 1998 have been prepared on the going concern basis. Eagle has reported a loss during the last two years. In addition, its current liabilities substantially exceed its available cash. The Company is completing its acquisition of the assets of IMSI Cap Fund, Inc.
Liquidity: Eagle has used all of its cash in its operations with the result that cash reserves were depleted at December 31, 1997. As of September 30, 1998, Eagle's current liabilities of $10,652 exceed its cash resources.
Discussion of quarterly results: The Company ceased operations effective December 31, 1997 and is completing the acquisition as stated above. The Company's ability to execute its new business plan will depend on a number of factors, including its ability to obtain additional funding. There can be no assurance that such funding will be obtained.>> |
