eCrypt Technologies, Inc. (OTC:ECRY) has been moving up progressively over the past week. On Friday, the stock added another 
10.84% to its price and its traded volume jumped up. Nevertheless, the reason for the gain is still a mystery.
Following the records, we can see that eCrypt has not released any news on its business for months and investors have no idea about its current activities. Though, the stock is flying up and it is interesting what its next step will be.
Despite the lack of news, on Nov 18 ECRY filed its latest unaudited quarterly report. The problem is that according to it, the company’s financials are disastrous.
As of end-September, eCrypt had much more liabilities than assets on its balance sheet, while the stockholders’ deficit got almost doubled as compared to the previous quarter. Besides, the deficit accumulated during the development stage period kept increasing and the net loss remained uncovered.[BANNER]
So far, so bad. Considering the lack of news, presently traders can rely only on the financial reports of eCrypt. However, the company anticipates that it will require approximately $5,000,000 of working capital to complete all of its desired business activity during the next twelve months. In the meantime, it continues to operate under a going concern.
