Ethos Environmental Inc. (OTCBB: ETEV): Is this the Right Time to Waste Money?
The most suitable expression defining the present situation at Ethos Environmental is: "It never rains but it pours." After the trade on Tuesday, the stock price fell down by 7%, and is now at $0.225. What else have happened to the company?
Let's first look what this company engages in. Ethos Environmental Inc. (ETEV.ob, or OTCBB: ETEV) aims to become the industry leader in the provision of high quality and environmentally friendly engine cleaning and lubrication products.
From the latest annual report, it can be seen that there is a 13% enlargement the current assets of the company. This is a very positive sign to ETEV. However, liabilities have increased even more, i.e. by almost 30% from $2,400,000 to $3,093,000. In addition, the company lost half of its profit which was present in December 2008.
Despite the harsh situation in finances of the company, Ethos Environmental paid $3,000 to OTC Picks for the promotion of its share. The stock is still not affected by that. I am not positive that this stock promotion is going to save the company and its stock from the fall. But maybe that's only my realization.
Reference:
http://www.ethosfr.com/
