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Microcap & Penny Stocks : ECOI On the Move
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To: Gary West who wrote (660)4/19/1999 11:21:00 AM
From: ColleenB  Read Replies (1) of 692
 
Gary,

I am not pleased to learn of this RS/RM that is scheduled to take place. But I'm not really all that surprised as this is an entirely new outfit who bought the shell(?) ECOI some months back. After the other outfit fleeced investors not too many months earlier. The one thing that does concern me is the fact that it's reported that Richard Carey will no longer be involved in ECOI. This is good and bad as he was our original source of information, but it was also reported that he owned nearly 85% of all shares issued. I assume that he was selling into the rallies last fall as it was reported that the float more than tripled. How many shares he still has, I don't know. But the recent price action suggested that he was no longer dumping.

And regarding the gold mine. Well, it was discussed that the company was not able to benefit from the mine because of political unrest in Russia. I scoffed at this at the time as it was the politics in Russia hadn't digressed from when this information was first posted. But, I did like the idea that they were looking to sell the rights to the mine, or so I thought that was the implication earlier. I am not sure what the real story is on this issue, but I wouldn't bank on anything financially rewarding.

And, I read somewhere that ECOI lost rights to the productions/shows because of lack of revenues? I don't recall this in good enough detail to comment further. But doesn't look promising.
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