EffTec International, Inc. (PINK:EFFI) has been running up for more than three weeks now, reaching a new six-month high yesterday. There is, however, no solid and reliable news behind the run as EFFI is a Limited Information company on the OTC market. 
Yesterday’s session closed at $0.17 for a share which represents a 47.83% gain from the previous close. That price is the highest for the last half a year, but the trading volume of slightly more than 725,000 traded shares was much more impressive as it is the highest for the past three years.
EFFI observed volume accumulation since the middle of last week could have attracted traders to the stock. Shortly before that, the share price had crossed the 200-day moving average and is now trading high above both the 50- and the 200-day MA. In addition, RSI is above 95, meaning that EFFI could next crash down much faster than it climbed up.
Last Thursday, the company announced the completion of its second installation of its EffTrack System at the facilities of a major computer manufacturing customer of the company. According to the press release, the first one was made last year and the “remarkable results” have led to a second order worth $135,000.
As EFFI is not filing to the SEC, the information in its press releases in hard to get verified. Yet, the company has filed to the OTC Disclosure & News Service its quarterly report for the three and six months ended December 2011 and December 2010. It shows that the company’s total revenue has decreased by over 50% on a year-over-year basis, and that EFFI has over $2.3 million in current liabilities against around $200,000 in total assets.
