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Don't believe everything you read.
Some who have been here a long time know better.
ECOS the public corporation has no notable real assets in spite of what you may 'think'.
It's hard for me to believe that's not 'automatic'?
Thanks for the help!
Are you still in recovery from the election LOL??
My DD says they were forced to add composting to their recycling mix in order to even be able to bid on large recycling contracts for certain municipalities. IMO, they have no interest in taking over the liabilities and headaches of a stinky pinky with absolutely no other business outside the ECOS/BIO-art LLC in which LRS already is in the drivers seat already LOL.
YOU can bet on anything you like, I don't really care. If I decide to put some of my investment dollars to work here, it will be based on my own DD.
GL and JMO
Don't delinquency letters show up on Edgar when published?
That sounds about right, plus the tipping fees an any revenues from selling the by-products (which LRS wanted no part of).
Divide the total by 10+ billion and you will have some idea of what an ECOS revenue per share might be in a few years. Little or no revenue in 2017 though, as they don't get paid anything til November. Once you add it all up, and your feet touch ground, you will have realty.
If you are just here to go long for a short period of time and maybe catch a 'run', then just ignore anything I say.
GLTY and JMO
Right, since the purchase goes through ECOS/BIO-art LLC they have to split the installation expense with LRS...I forgot to factor that in??
LOL..they've been acting like a non-SEC registered pinky as far as disclosure goes IMO.
Thanks for the input!
And the contract says they have to split half of any mark-up above the Korean company's costs with LRS...so the ECOS revenue cut could be only about $100,000-150,000 per machine?
All of their convertible notes (including Tonaquint's) went into default as of late 2014. FINRA had refused to process the R/S in 2014 because Asher was involved. ECOS had to take Asher out before they could go forward and it took 8 months before the split was approved. The Asher notes were taken out by John Fife and then ECOS defaulted on all of their notes as they had no business or source of funds from anywhere. ECOS had never accomplished anything (other than being a revolving door for toxic note holders) and basically went out of business until they sold an aerobic digester pilot plant (made by a legit Korean company) to Lakeshore Recycling of Chicago last December.
Could legal action from the lenders have forced issuance of all those shares (once the derivative liabilies were calculated as of each quarterly date), even though they weren't yet in compliance? And how would I find that information?
Thanks...It's also my understanding that even if the SEC had questions about the financials recently submitted, they don't have to publish those communications until the issue is concluded. Right? So shareholders are always in the dark right up to the time of a suspension? ECOS always has been a serial diluter using the likes of Curt Cramer and John Fife to steer the path.
"1s sticking! E!!"
Yep...someone got stuck for $98 worth LMFAO
"There are two types of SEC Suspensions, one for SEC Registrant Issuers/Filers that are delinquent in filing Financials. The SEC Suspension is always accompanied with an Administrative Proceeding outlining the Financials delinquencies. Those stocks will have their stock registrations revoked, NO EXCEPTIONS!! Stocks in this category will remain on the Grey Market until the SEC Admin Law Judge revokes the stock registration."
Renee (or anyone)? ECOS had been delinquent since mid 2014. They filed only the missing Quarterlies and 10-Ks thru 2015 on April 28. Nothing since? Trading volume for the next 2 trading days was over 3 billion shares and they have had many Billion + trading days since?
I can't find any SEC communication letters on the SEC site.
What is the normal time the SEC allows delinquent filers to become current before they suspend or revoke and do they get credit for being 'partially' compliant?
I suspect they have been selling, or issuing large numbers of unregistered shares to someone in the last three months?? They left the gate open to the naive and ignorant corral and most of the herd has wandered over there LOL.
TIA
Your not even in the agreement under discussion LOL?
https://www.sec.gov/Archives/edgar/data/1290506/000100201416000810/exh10-1.htm
Do you have a point or a comment somewhere?
Try reading the BIO-Art LLC agreement that was under discussion in the thread LOL.
https://www.sec.gov/Archives/edgar/data/1290506/000100201416000810/0001002014-16-000810-index.htm
Deal guy...Ecos (the public corporation) does not own any of the proprietary technology, patents or other IP related to these digesters. To my knowledge, ECOS has never even published a license agreement with the Korean Company that does own everything. LRS is to receive an additional 5% ownership of the BIO-Art LLC for each machine they buy up to 8 (they will own 40% of ECOS Bio-art LLC after 8 machines are installed). They then have an option to purchase another 11% for cash for a 51% controlling interest. It doesn't appear they have an option to buy 51% after just one machine? Of course, agreements can always be amended. 8 operational machines could take quite some time to complete, so I don't see them having a need, desire or advantage, to rush a purchase of BIO-art. Whether ECOS (the public corporation) becomes re-registered with the SEC or not?
The original calculation of a 13% ownership in ECOS, via the warrants, would probably now only be around 5%, as the O/S has more than doubled since then. Since ECOS has only liabilities and no assets, that 5% is not worth much.
GLTY and JMO
Interesting...I think you're right, but I will have to re-read the Bio-Art agreements and get back to you later today.
KP
No...because they remain a delinquent filer with the SEC.
The pps they can be exercised at are in the filings but ECOS is still a delinquent filer.
https://www.sec.gov/Archives/edgar/data/1290506/000100201416000810/0001002014-16-000810-index.htm
LRS cannot exercise any of their warrants until ECOS is SEC compliant. Right now they are 5 10-Qs and one 10-K short.
Thanks..I've known that for years, just can't always type what I know LOL.
That's all "serial diluters" know how to do LOL
It might have a chance if it can solve that addiction.
Welcome.
"This is a long-term gem, imo."
I agree it has the 'potential' to be a long term investment, but only if they can clean up the financials and get rid of the stench of Seagull shit and toxic financing.
Every Pinky stock has 'potential' but less than 1% ever reach it. Most people are just here to catch a 'run' and get wealthy overnight for doing nothing, which has nothing to do with long term potential. They just use long term potential, and LRS, to lure the naive and uninformed into buying shares NOW.
If KWACK can possibly secure conventional financing to replace all the death spiral crap on good terms, it might have a chance IMO. We will see how it goes. I can also not see anyone wanting to pay much for the existing corporation and absorb all its current liabilities.
GLTY and JMO
"MM are manipulating this using BID stacking..when everyone is left they will pump this again
By putting large walls, they will discourage buyers and look for sellers. This is the game played on many high volume stocks"
LOL.. MMs simply do what their clients ask them to do. The idea is to divert blame for any losses away from management and their promoters and onto MMs or 'Shorty'...all just a part of the manipulation tactics used by Pinky Promoters.
They are professionals...thinking you can beat them without years of experience and study, is the equivalent of getting 4 of your buddies together from your local Gym and thinking you can beat the Golden State Warriors in basketball LOL.
GLTY and JMO
"where are them deep pocket buyers at"
Looks like the whale sighting turned out to be just a couple of psuedo whales and a school of guppies LOL
GLTY and JMO
"They're in an office suite."
Didn't find much in Barrington did you? LOL
That's always been ECOS's only location.
Notice anyone in or around that office?
I'm surprised you recognize perfect sense.
"That means .001+ on the way!!!!"
If they get the financials out and the remaining liabilities on the books push the O/S to over 10 billion, a R/S could easily result in a pps of .001.
GLTY and JMO
LOLOL... how can they decide if they want to accept or reject it until they run the tests? They have 4 months to do testing and pay for it whether they actually need the full 4 months or not...sheeesh! It's CLEAR in the filing.
Yes!
BTW...I stand by my 4 month estimate as to when ECOS gets paid.
"At this time we want to update the public that we intend to complete the installation of the initial system within the next thirty (30) days. LLC has 110 days after the initial installation to accept or reject the system."
30 days+110days = 140 divided by 30 = 4.6 months LOLOL. JMO
"ECOS and LRS looking forward, looking backwards on old minutiae does no good."
Looking forward based only on made-up rumor and innuendo does no good for people waiting on the current financials to reveal the real value of an ECOS share. What happens if the now unknown, fully diluted, O/S is revealed to be 10 billion and the known A/S is also 10 billion?
Funny, if ECOS really wanted to be trustworthy and transparent, that they haven't dropped any more filings since April 28?
GLTY and JMO
"They just seem to drop the filings when they're ready."
The last time they dropped any filings resulted in over 3 billion shares traded in the following two sessions (with little price change). Shares had to be issued to toxic note holders when that filing dropped and revealed the derivative liabilities owing on their existing toxic notes through the 2015 10-K date.
The derivative liabilities have to be recalculated to the date of each Q and 10-K still missing?
"I guess the volume means nothing either."
Managements job in any stinky pinky relying on toxic financing is to create volume for the toxic lenders to dump into. It's all in the filings. Just go to the 'convertiable debentures' section of the 2015 10-K. Once you read that, your DD here is finished. No penny stock in the last 20 years has succeeded long term by using toxic financing (regardless how great the potential of their tech sounded).
An 'investment' here is in ECOS stock, not LRS.
Going long for a short period of time is not an 'investment;.
"I think there are a lot of very wise investors out there who can see how big this deal could scale."
"Wise investors" are not interested in stinky pinky stocks that rely on floorless convertible debentures (death spirals) to fund their operations. ECOS is a serial diluter. Stinky pinky's are not 'investable'. Pump and Dump maybe, but not investable.
GLTY and JMO
Of course they did! Who said they didn't? They are smart people and a great company. The problem is you own ECOS shares, not shares in LRS. You should be doing DD on ECOS, not LRS.
GLTY and JMO
110 days is close enough to 4 months LOL
June 20 8-K
On December 23, 2016, we filed our Form 8-K announcing that on December 19, 2016, we entered into a Supply Agreement with ECOS BIO-ART LLC, a Delaware Limited Liability Company ("LLC") to manufacture and supply equipment and products to LLC for resale or lease to Lakeshore Recycling Systems LLC located in Morton Grove, Illinois ("Lakeshore"). At this time we want to update the public that we intend to complete the installation of the initial system within the next thirty (30) days. LLC has 110 days after the initial installation to accept or reject the system. Upon acceptance of the system, LLC is obligated to pay us $687,375.00.
LRS has already stated that they had to bundle composting into their recycling mix in order to even bid for certain contracts. Highland Park was mentioned. I cant see why they would be in a big hurry as it will take 4 months just to test the pilot system and work out the Bio waste collection kinks. Relying on information from pumper clowns on a pinky message board is not a good investment strategy
"If there's a method for LRS to take control of the llc why would they want/need the warrants for 13% of ECOS?"
My guess is the warrants were likely a part of the sales pitch to buy the Pilot ...exercise the warrants and dump the shares at a profit to help pay for the Pilot. LRS also gets 50% of the margin on each machine they buy. JMHO
LRS cannot buy ECOS shares on the open market. As a partner in an ECOS subsidiary, they're considered an insider. They cannot purchase shares for warrants on the open market either...those are lump sum payments direct to ECOS for shares issued to LRS direct from the Transfer Agent... and they cannot be issued until Ecos is SEC compliant with their filings.
GLTY
An informative post with some answers to your question.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132611095