EcoloClean Industries (ECCI)

[loveismyreligion]

Outrageous management salaries in the hundreds of thousands... There are now possibly millions of dollars in past due salaries and potentially enormous future share dilution as a result to pay those "deferred" salaries is the perimary reason why I sold all of my shares, despite not knowing the actual shares outstanding and the awful 30 million share clause that Royis gets to keep all 30 million shares (the actual conversion of his preferred holdings) even if they do a massive reverse split.

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5006053

"Each 2007 Series "A" Preferred Share will have One Hundred (100) votes per share at any meeting of the shareholders where votes are submitted and will be convertible into a total of common shares Thirty (30) shares of Common Stock for each (1) share of Preferred stock at the election of the holder. The common shares, into which the Series "A" Preferred shares are convertible, will not be subject to any future reduction in the number underlying common shares into which these preferred shares are convertible by virtue of any reverse stock splits or recapitalizations."

2006 and 2005 - Officer's Salary -
What officer? Royis? Who???
in 2006 -52,500 in 2005 - 30,000

3 month Selling, general, and adminsitrative costs for ONLY 3 months in 2006 and 2005 were:
Selling, General and Administrative
in 2006 - $363,393 in 2005 - $326,340

I am beyond dumbfounded...two press releases couldn't keep this stock up above .0001 per share and now out of nowhere two months later after the stock sold for ZERO (0.0000) a share and many days no one would buy the stock it is selling at .0004 and as high as .0006 in the past few days...WOW!!!

What happens when you call the company directly? My experience is that the phone just rings and rings. I have never been given any useful info. from Michael Biddick other than they still own WET and that they are definitely still in business. the website is basically useless IMO.

No transparency = shadow = ego = distortion of facts = distrust

Massive share dilution and a reverse split is coming IMO...