This looks like a very accurate and perceptive article:
"EcoTech Energy Group, Inc. (PINK:ECTH) About to Get Dumped
by Martin TsvetkovJun 20, 2012
The latest promotional email in support of EcoTech Energy Group, Inc. (PINK:ECTH, ECTH message board) makes a poor attempt to present the company as the next big player in the biomass energy business. In fact, the latter could be possible if the company's market cap of $59 million really reflected its intrinsic value. Unfortunately, this is not the case.
As it is, the whole campaign relies upon the bombastic news that the company has secured a multi-million dollar financing for the supposed construction of a power plant. Such news first popped up on Feb. 16, 2012. Back then, the company issued a press release stating that it had already "secured" a 55-million-dollar debt financing. Strangely enough, instead of publishing an accompanying 8-K right away, the company's managers waited for two weeks to do so, only to state that the debt financing was subject to due diligence and therefore not to be considered a done deal at all.
Yesterday, a company representative boasted about the same topic in a new interview, leaving the impression that the interview was solely done to back up the new pump-and-dump game with ETCH stock.
From a fundamental point of view, ECTH is far from safe and sound. The latest reports filed with the SEC reveal an entity with limited assets and considerably greater liabilities. For a company which has been run by one and the same CEO (C. Victor Hall) for more than 30 years, a dreadful balance sheet like this is the last thing investors would like to see. If this were not enough, the stock based compensation for ECTH's managers amounts to millions.
Based on the facts stated above, the new paid pumping scheme is unlikely to yield a reasonable return to traders. Nor will it provide any benefits for stockholders."
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it."
Upton Sinclair
"Nobody ever went broke underestimating the intelligence of the American public."
H. L. Mencken
