GLEC | Global Ecology Corp. 52 Week Low Worth Playing?

GLEC stock, Global Ecology Corp., Ocion, Asher EnterprisesStarting the morning out with Corn Flakes and 8-K’s can bring home the bacon for savvy traders. Last night, Global Ecology Corp. (GLEC), reported approval from the Environmental Protection Agency on jointly filed applications with Ocion. The EPS approval covers a broad spectrum of products under the U.S. Federal Insecticide, Fungicide and Rodenticide Act. With the exclusive U.S. rights to distribute its own branded product, IMS1000, produced by Ocion, for use in cooling towers and for the Company’s Potable Water Purification System, GLEC stock is one to watch at the open today, especially since setting a new 52 week low on Thursday.

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Market Cap: 1.42M
Close: 0.003, no change
Volume: 84,000
Dollar Volume: $235
High: 0.003
Low: 0.0021
Trades: 5
Average Trade Size: 16,800
Authorized: 500,000,000
Issued and Outstanding: 474,263,525

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We love stocks bouncing off of 52 week lows with good news like approval from the EPA and Global Ecology Corp. is no slouch. As per the recent 10-Q for the period ended September 30, 2012, the reported cash of $17,951 versus $547,923 as of December 31, 2011. To combat that are inventories of $37,403 versus $0 as of the end of 2011. Furthermore, PPE net of accumulated depreciation has grown to $381,869 from $302,414 since the end of 2011. While sales are relatively a new line item for Global Ecology, $61,086 for the nine months ended September 30, 2012 versus $35,000 for the same period in 2011, they are there despite producing a gross loss.

So today’s reaction to the EPA approval for these products which the Company has the exclusive rights to distribute coupled with additional market distribution rights which Global Ecology and Ocion will negotiate is key. If GLEC sees the same trading activity, $300 or so worth, for today, then there is no hope. With a few sessions where volume topped the 2 million level, and a 3 month average of 347,112, it would a shocking surprise to not see a rebound on GLEC stock price today.

Bear in mind, if you decide to play GLEC today that, throughout most of 2010, numerous convertible note payables due to Asher Enterprises were converted into GLEC stock. While all the 2010 notes were converted as of September 30, 2012, on April 16, 2012, Global Ecology went back to Asher for $78,500. The promissory note matures on January 2, 2013 which Asher may elect to convert into GLEC shares any time after six months from the date of the note at conversion rate equal to a 42.0% discount to the three lowest closing market prices for the 10 days preceding its election to convert.

About GLEC Stock

Global Ecology Corporation, through its extensive network, has obtained licensing rights to several environmentally friendly technologies in the water treatment and soil remediation fields. These proprietary technologies help reduce algae, bottom sludge and harmful bacteria and are able to provide “green” and if needed, transportable methods to recover the usability of water, soil and land.

Last 5 Trading Sessions:

Date Last Change % Change Volume
11/29/12 0.0030 unch unch 83,900
11/28/12 0.0030 +0.0006 +25.00% 100,000
11/27/12 0.0024 -0.0006 -20.00% 70,000
11/26/12 0.0030 -0.0004 -11.76% 85,000
11/21/12 0.0034 -0.0001 -2.86% 300,300

Click here to view the SEC filings for GLEC.

Bottom Line: GLEC would be a penny stock to day trade off the 8-K at best, nothing more, nothing less. Until Asher showed up on the financials, it was almost looking like a promising play. Played or not, GLEC stock is not one you want in your portfolio at the close of any trading session.

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