{"id":6875,"date":"2015-09-16T13:13:27","date_gmt":"2015-09-16T13:13:27","guid":{"rendered":"\/?p=6875"},"modified":"2015-09-16T13:39:50","modified_gmt":"2015-09-16T13:39:50","slug":"event-cardio-group-inc-otcmktsecgi-crashes-hard","status":"publish","type":"post","link":"\/articles\/event-cardio-group-inc-otcmktsecgi-crashes-hard\/","title":{"rendered":"Event Cardio Group Inc. (OTCMKTS:ECGI) Crashes Hard"},"content":{"rendered":"\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: right;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91348\/sc.png\" border=\"0\" width=\"444\" height=\"198\" \/>Event Cardio Group Inc. (OTCMKTS:<a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ECGI\">ECGI<\/a>) managed to rise on some impressive news two weeks ago, but it appears that the ticker is now once more buckling under the pressure. <\/p>\n<p>The successful completion of the first audit of compliance to Canadian Medical Devices Conformity Assessment System (CMDCAS) was certainly a positive development for <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ECGI\">ECGI<\/a><\/strong>. The company itself described it as &ldquo;a significant milestone towards both Health Canada and FDA certification&rdquo; &#8211; and that it most certainly is. However, investors may have gotten a little bit ahead of themselves when they jumped onto <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ECGI\">ECGI<\/a><\/strong> stock back on September 1 and pushed the ticker 129.17% up the charts.<\/p>\n<p>After all, step forward or no, we&#8217;re still dealing with a development stage OTC Markets company, whose financials for the quarter ended May 31, 2015 looked like this:<\/p>\n<ul>\n<li>Cash &#8211; $37 thousand<\/li>\n<li>Total Current Assets &#8211; $914 thousand<\/li>\n<li>Total assets &#8211; $1.6 million<\/li>\n<li>Total Current Liabilities &#8211; $865 thousand<\/li>\n<li>Total Liabilities &ndash; $1.4 million<\/li>\n<li><span style=\"color: #ff0000;\"><strong>NO REVENUES EVER!<\/strong><\/span><\/li>\n<li>Net Loss &#8211; $648 thousand<\/li>\n<\/ul>\n<p>There doesn&#8217;t seem to be much going on in this report. True, the company seems to have secured some more funding &ndash; in fact, it is reported to claim that it now has enough money to fund the development of the NowCardio device. But was that enough to warrant market cap of more than $20 million?<\/p>\n<p>Assuredly not. Which is why <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ECGI\">ECGI<\/a><\/strong> suffered a correction &ndash; or so logic dictates.<\/p>\n<p>Another factor that may be driving the price down right now is conversions of debt into common stock. Investors should note well the fact that most of the company&#8217;s promissory notes convert into common stock at fixed prices of $0.15 per share.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"float: left;\" src=\"\/\/s.hotstocked.com\/hotstocked.com\/repository\/articles\/91\/91348\/dcasfsadfsda.png\" border=\"0\" width=\"174\" height=\"66\" \/>As of May 31, 2015 <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ECGI\">ECGI<\/a><\/strong> had 190 million shares authorized and just 104.5 million common shares issued and outstanding &ndash; which means that if investor value hasn&#8217;t been drowned in discounted shares yet, there is plenty of opportunity for note holders to do so at their leisure.<\/p>\n<p>Investors should definitely keep that in mind as they make up their mind about <strong><a href=\"http:\/\/www.thehotpennystocks.com\/Stock-Quotes\/?stock=ECGI\">ECGI<\/a><\/strong> stock.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Event Cardio Group Inc. (OTCMKTS:ECGI) managed to rise on some impressive news two weeks ago, but it appears that the ticker is now once more buckling under the pressure. The successful completion of the&#46;&#46;&#46;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1851],"class_list":["post-6875","post","type-post","status-publish","format-standard","hentry","category-news","tag-ecgi"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=6875"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/6875\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=6875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=6875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=6875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}