Why would you prefer third hand information vs. firsthand? Doesn't sound like very good DD to me, but suit yourself. But as far as indirect info goes, here you go. You can follow the thread back to see my own concerns about the topic:
Eric David has already stated they are covering Aquagold because they believe so strongly in the company and it will make them look good to other companies who want to hire EDS in the future. So for right now EDS is covering Aquagold with no compensation.
How about that EDS believes in the company, and figures if they offer their services now free of charge, that in the future they will keep Aquagold as a fee-paying client.
Also, in the meantime they build a reputation with trader for backing winning stock plays, which will help them and their other clients.