The last two sessions have been negative for Ecosphere Technologies, Inc. (OTC:ESPH), at least with regard to the price of its stock.
However, what happened yesterday might have surprised many traders. While ESPH stock lost further 1% of its value, its turnover skyrocketed to a staggering 927 thousand, marking the highest volume generated since Mar. 22.
Yesterday’s movement might be attributed to a new press release that popped up on the same day. According to the update, the company had now fully manufactured its first proprietary Ozonix EF80 unit, with the second unit still being a work in progress.
Ecosphere Technologies, Inc. engages in developing waste-water treatment solutions for industrial markets. The company is also a registered SEC filer, hence its OTCQB market status. ESPH concluded the first calendar quarter of 2011 with:
$365K in cash;
- working capital deficit of $4 million;
- $2.28 million in revenues;
- net loss in excess of $3.8 million.
- Unless the company starts generating substantial income, it will face significant challenges in its operations.
