This is how it works. Make no mistake about it, here is the typical structure
Ronald Mills and buddies sell private stock to investors "for business operations" but in reality the money is being used to finance his lifestyle, which is why, after all these years, there is no progress/growth with this business. That money has purchased luxury vehicles, homes, vacations, jewelry, etc.
Those who hold 144 restricted shares are then able to sell their shares into the market after 18 months, but first they have to find a shady transfer agent who is willing to convert the stock certificates into tradable stock. Most brokers and transfer agents won't touch stock for companies like ECSL, so the ones that will are charging them ridiculous fees and will likely require that they maintain custody of the assets in a brokerage account with them, charging more fees.
So, how do these shareholders sell their stock when there is no market? They pay promoters 20% to 50% to set up boiler rooms and illegally solicit them over the phone and tell them how great the company is and how close they are to expanding. They tell the common lies such as being close to some kind of government approval and ALWAYS talk about some kind of funding that is supposed to be happening but never actually happens. These people go into their online trading accounts and purchase the stock at their request while communicating with a market maker to fill the order as soon as the bid pops up. If you notice, large bids and large offers are rarely seen. That's because there is coordination between 2 or more people to fill an order the second the bid pops up. Then what you will often see is a small print of shares to get a green print after the bid is filled below market price. Think about it. Do you really think a legitimate business will be paying anyone up to 50% of all money raised?
It's all manipulation. There is no company. This is all smoke and mirrors. Go look at all the disclosures for this "company" on otcmarkets.com and see who is getting paid and all the poor folks paying for it. This is a 2-tiered con. The top tier victims are the 144 holders listed in the financials and they may actually be able to sell their shares at some point, but it will be at a huge loss and they have to beat the guys running things to fill the bids. That will be very hard unless they are watching a live level 2 montage nonstop during trading hours. Also, their names and price per share is listed in the financial reports also found on otcmarkets.com and you better believe that price is way higher than what the true insiders are paying which is why the insiders, those who hire the promoters, are paying so much to find them buyers. The bottom tier victims are buying in the open market with their trading accounts. They are likely holding way more shares than supported on the bid side so they are less likely to ever liquidate their positions. And, if they do, it will be at a 50% loss or greater.
I suggest everyone sell whatever they can while you can. Do it in small batches so you won't whack all the bids down in a single market order. Good luck to you all.
