Encore Energy Systems Inc (ENCS)

[teapeebubbles]

Excellent post worthy of a repeat....

jmo

Mick, you forgot to mention that....
....ENCS is in default with the Nevada SOS.
....Pinksheets has them listed as Caveat Emptor.
....Their latest Q report is late.
....Cash on hand as of last Q is just $12,440.
....O/S of 3,120,213,070 is almost 5 months old.
....The A/S was doubled from 4 to 8B in Aug of '09.
....The A/S was doubled from 2 to 4 B in Feb of '09.
....The A/S was inc'd from 990,000,000 to 2B in June of '08.

Bottom line? Welch has structured the financials of this company in a way that requires it to be a share dispensing ATM for himself, creditors, convertible holders, etc, etc....

Promoters may be able to get it off the respirator long enough to show a slight sign of life, but in the end, the plug will be pulled and this pos will be put to rest.