ENCY | Is Energy Conservation Technologies Stock A Buy?

Penny stock traders who can read have been banking huge gains this week off of solar energy focused Energy Conservation Technologies Inc. (ENYC). Up over 23,000% on Monday’s trading session, today’s follow up has ENYC stock continuing its onslaught of crushing the gains, penny by penny, while the so-called savvy traders await the IPO of SolarCity Corp. (SCTY). Although the revenues of the Company’s subsidiary, ABCO Solar, may not be as rich as those driving up the hype behind SCTY stock, they have some tainted history behind them with one insider that is causing many to question if this is the real deal or another paper work scam.

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ENYC Stock Chart

Market Cap: No Clue
Last: 0.10 ▲0.052 (108.33%)
Volume: 818,422
Dollar Volume: $80,036
High: 0.125
Low: 0.065
Trades: 155
Average Trade Size: 5,280
Authorized: 500,000,000
Issued and Outstanding: Who Knows

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The hype to drive the price of ENYC stock came out midday on Monday as a filing on the OTC which is quite confusing in a number of ways. The filing, seen here,  is an Offering Circular whereby the proposed sale of 6,250,000 shares of common stock, par value $0.001, is being offered by the Company, in increments above 5,000 shares, at an offering price of $0.80 per share. Considering that the news of this was well circulated like Fruit Loops ina  big empty bowl looking for milk, the message soon became clear that this was a rocket ship accepting any and all passengers.

The information on Energy Conservation Technologies Inc. is not current with OTCMarkets and hasn’t been for over two years. At last report, the company had 28,701,753 shares outstanding. However, even though the revenues look great for ABCO Energy Inc., after reviewing the share description in the offering, 19,833,680 common shares as of June 30, 2012, 26,083,680 common shares after the offering, something didn’t seem to add up.

Looking a bit deeper into this random OTC filing, On July 1, 2011 Energy Conservation Technologies completed a share exchange agreement to exchange ENYC shares for 100% of the common shares of ABCO. Ok. But looking deeper, Officers and Directors acquired 11,000,000 shares from provision of services or cash investment or both when the Company was founded. Charles O’Dowd, President and Director, acquired his 4,000,000 shares for $4,000 and has a cost per share of $.001 which was par value. Shares issued for SSI Development, Inc. a private investor Company totaled 6,000,000 shares and the purchase price of $6,000 represents $.001 per share which was par value.  There it is!

SSI Development, Inc. is a Nevada corporation 100%% owned by David Shorey, a former officer and director of the Company. David Shorey is a founder and promoter of the Company and worked full time until an injury forced his retirement in 2012. David Shorey was also one of the lead respondents listed in a securities fraud case filed in Arizona in 2010 regarding the sale and issuance of shares in Cell Wireless as seen here. Among other violations, the courts ruled that Shorey directly or indirectly controlled Cell Wireless within the meaning of A.R.S. 5 44-1999. Therefore, Shorey is jointly and severally liable under A.R.S. 8 44-1999 to the same extent as Cell Wireless for its violations of A.R.S. 6 44-1991.

Just the kind of “from under a penny, this stock will soon be trading at nearly a dollar” kind of investment you need to get into after the sharts from SVEN and PBCW are still fresh in your drawers.

About ENYC Stock

ABCO Energy, Inc., supposedly acquired by Energy Conservation Technologies, Inc. in 2011, is an installation contractor for alternative energy products that are used in the replacement of fossil fuel energy generation.

Last 4 Trading Sessions:

Date Last Change % Change Volume
12/10/12 0.0480 +0.0478 +23,900.00% 1,003,200
11/29/12 0.0002 -0.0008 -80.00% 395,400
11/26/12 0.0010 -0.0002 -16.67% 138,300
09/19/12 0.0012 +0.0001 +9.09% 500

Bottom Line: ENYC is one of the hottest penny stocks to survive a day one pump in months and is still on the fire for some more message board cooking. If ENYC stock should come anywhere near the 80 cent mark, like one of the posters said, this could be a zip code changer. At the same time, with the history of some of the injured insiders behind this, chances are the ramp for the wheelchair has now been financed and now its about that crane to get that body in and out of the bath tub that’s next on the list.

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