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Ecolocap is about to dive - they submitted to SEC and will vote on 30 Nov to increase common stock shares from 100M to 500M. With their board controlling 58% of the stock it will pass, with the rest of us low lifes paying the bill. Their reason is to pay for $778k of debt, but the shares they will pay it with 5,937,045 shares of stock. Do the math =$0.13 per share or the devalued amount of the current price for the stock!
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Ecolocap applied to SEC and will vote on 30 Nov to increase common stock shares from 100M to 500M (see SEC disclosures on their website). With their board controlling 58% of the stock it will pass. Their reason is to pay for $778k of debt, but the shares they will pay it with 5,937,045 shares of stock. Do the math =$0.13 per share or the devalued amount of the current price for the stock! The music has stopped ... hope you're not in a seat.
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Per Ecolocap's SEC filing, they will increase common shares from 100M to 500M with major devaluation of their stock. Their M-Fuel and CNT-Battery technologies are not validated to date. Unproven Carbon Nanotube battery a scam? M-Fuel a scam? Smoke and mirrors? One M-Fuel demonstration video looks like soapy water being poured into the bilge of a boat?
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SEC Filing 9 Nov - On behalf of the Board of Directors and management of Ecolocap Solutions Inc., I cordially invite you to attend a Special Meeting of Ecolocap's stockholders to be held on Monday, November 30, 2009, at 10:00 a.m., local time, at 1250 S. Grove Avenue, Barrington, Illinois 60010.
The matter to be considered at the meeting is: As an amendment to the Company's Articles of Incorporation ("Articles of Incorporation") to increase the number of authorized shares of Common Stock from one hundred million (100,000,000) to five hundred million (500,000,000), par value $0.001 per share. |
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