Nelly Shishkova

eCrypt Technologies, Inc. (OTC:ECRY) Hit an Unexplainable Gain

by Nelly Shishkova October 25, 2011
Stock price of eCrypt Technologies, Inc. (OTC:ECRY) has been rather unpredictable lately. Despite being quiet these days, ECRY_chart1.pngyesterday ECRY jumped up 62.30%, while its traded volume exceeded 292 thousand shares. However, despite the unexpected gain, the massive trade is hard to be explained.

Historical data shows that eCrypt has not released any news on its business since August this year and no one has a clue about its current operations.

Though, the stock got the climb and it is interesting how far the up move will go. In any case, if the gain was due to some news about the company, then the announcement must be out any minute.

eCrypt Technologies, Inc. is an information security company, and provider of true end-to-end encryption solutions. According to its latest unaudited 10-Q report, the company's total liabilities are approximately 12 times higher than its assets, and the stockholders deficit has substantially increased. At the same time, the revenues of ECRY decreased by 50%, while the accumulated deficit reached $1.1 million.

eCrypt_logo.pngHaving in mind the other losses in the 10-Q, the future operation of eCrypt has been placed under a going concern. Meaning that unless the company finds additional financing or generate profitable operations, its existence is not guaranteed.

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