The following is from a financial newsletter that I receive every week. The author has been following ECSL for more than 3 years. This week he wrote: "ECSL - Date initially posted 12-16-13 with ECSL-price at $.49/share- Update. ECSL closed Friday 10/21/16 at $.37, leaving us with loss of 24.5%. There was a fair amount of news last week and the volume of stock traded last week surged to levels not seen since November/December 2015. The company reported that CyberFuels Inc. "now has in place the necessary inventory and infrastructure to begin fueling the new stations. We expect our fuel will be available at the pumps this week. We have been able to greatly increase our capability by utilizing the highly modern and vast facilities at IMTT, Quebec. This capability will allow for a much quicker roll out and scale up of our sales in Canada. Our Announcement states that we anticipate sales of 3 Million gallons by the end of November. We are confident that we will meet that goal. It is very significant that we are now able to deliver a fully blended fuel to our customers, which greatly increases our potential for growth."
In addition, it reported that "iGambit has secured a term sheet for the necessary financing to allow the transaction to proceed. I have been informed by Mr. John Salerno, that he has prepared the first documents to close the transaction and he is hopeful that it will close by November 15, 2016." If all of the above is real and not yet another head fake from management, then it is good news.
We continue to hold a position in this stock, but it will be a long time before we venture back into pink sheet stocks.
