On an unseen for the past year volume of 15.9 million shares traded EQLB share price jumped 9.37% up and closed at $0.0175. That might look like the start of a new sort-term spike as it was seen in April, though it should be clear that the strong buying has been supported by stock promoters.
$25,000 have been paid yesterday by a third party for a one day advertising contract for EQLB stock. A week ago, EQLB has been promoted again for a compensation of $12,000, paid again by a third party. According to the previous three promotional disclosures for this year, another $35,000 have been spent on the marketing campaign for EQLB in February and in July.
As the well known strategy requires, in addition to the promotions various press releases have constantly attempted to convince investors how great EQLB’s business is running since the beginning of May. It looks like along with the awakening of EQLAB stock, shorters are waking up as well and during the last three trading sessions around 20% of the volume was shorted.
There is no official confirmation about any of the achievements the company has recently announced, as the July plans to become a fully reporting SEC company and to disclose current information have also not been conducted yet. The latest available financial report in the OTC Disclosure & News Service is for the first three months of the year and casts even more doubt on EQLB operations.
In it, the company only states that its business model now is to manufacture energy drink products and to distribute them through “national distributors”, which however has not been that profitable so far and the losses accumulated to $1.6 million.
EQLB also reports sales of $6,300 from an undefined source for the three months ended this March as compared to $58,800 for the same period last year. That makes the announced 40% increase in the sales also sound like nonsense. Moreover, with total assets of around $57,000 EQLB has no cash to sustain the business any longer, unless the stock market appreciates the marketing efforts to raise the value of EQLB stock.
