EKNL is up over 700% in a week!
Update: EKNL made a highly explosive move up last year on the alert from Xtremepicks from well under a dime to highs over $0.80. Since then the stock has dropped significantly and is currently drifting under $0.20.
Although a minor portion of October sales resulted from attendance at the Canadian Federation of Podiatric Medicine Conference in London, Ontario on October 26th and 27th, 2012, the Company is optimistic that the interest demonstrated in its products by health professionals will result in increased monthly sales volumes for the balance of this quarter.
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EKO International Corp. (PINK: EKNL) has exploded in recent trading sessions from a start point of around $0.05 to a recent high of $0.35 The rapid climb of the stock on accelerated volume is the result of an aggressive stock promotion accompanied by an active pr campaign from the company.
According to their website EKO International Corp. has entered a joint venture agreement with NeuroVasc Medical Inc., the holder of the exclusive North American marketing rights to Frequency Rythmic Electric Modulation System (FREMSTM). NeuroVasc Clinical Inc. (NCI), the joint venture, is owned 51% by NeuroVasc Medical Inc. and 49% by EKO International Corp.
The business of NeuroVasc Clinical Inc. (NCI) is to promote and distribute FREMSTM (Frequency Rhythmic Electrical Modulation System) equipment supplied by Lorenz Neurovasc Inc. To set-up and/or manage clinics to treat patients using FREMSTM equipment and to set-up training and certification centers for technicians in the use of FREMSTM equipment. FREMSTM equipment is used in the treatment of Peripheral Neuropathy which is damage to nerves in extremities such as lower legs and feet causing an interruption in communication between the brain and parts of the body with damaged nerves.
Conclusion: EKNL made an incredible run over the past few weeks from lows of $0.05 to recent highs of $0.789 much of the stocks upside was caused by a promotion including alerts from several well known online newsletters.
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EKO International Corp.
SYMBOL: PINK: EKNL
Shares Outstanding 31,683,037
Market Cap: $9,504,911
EKO International Corp (PINK: EKNL) was initially incorporated as Tomorrow's Morning, Inc. until 4-2008 when they changed their name to EKO International Corp. to more accurately reflect their new business focus. Back in 2009 the company did a 300 for 1 reverse stock split. Also of interest on EKNL on March 20, 2012, a complaint was filed in the Chancery Court of the State of Delaware by Capital Path Securities, LLC, a brokerage firm, and Legent Clearing LLC, a securities clearing firm, against the Company, its officers and directors, its former Chief Financial Officer CaseyBruyns, its transfer agent, as well as John Formicola, an individual who at one time (but not currently) was an affiliate of the issuer.
The plaintiffs allege that Mr. Formicola inappropriately ordered the cancellation of 5,000,000 shares of the issuer’s free‐trading common stock which were held by Mr. Formicola in “street name”, i.e. the shares were placed on account with Clearing Path. The plaintiffs further allege that the Company and its transfer agent inappropriately executed Mr. Formicola’s cancellation order for those 5,000,000 shares, even though the transfer agent was never presented with the physical stock certificate representing such shares, as the shares continued to be held in street name through Mr. Formicola’s account with Capital Path.
The plaintiffs further allege that Mr. Formicola, after the transfer agent “cancelled” all 5,000,000 of Mr. Formicola’s shares held on account with Capital Path, placed a sell order with Capital Path for nearly 3 million of such “cancelled” shares, which Capital Path executed. In summary, the plaintiffs alleged that Formicola exchanged his public shares in the Company for private shares in the spun off subsidiary, and that knowing this, intentionally traded those same public shares on the open market.
The plaintiffs are seeking relief in the form of the issuer re‐issuing such cancelled‐then‐sold shares, as well as attorneys’ fees and other unspecified damages. An expedited trial was held in the State of Delaware Court of Chancery on April 4, 2012, after which the Court adjudicated in the plaintiffs favor insofar as it ordered the nearly 3 million shares in dispute to be re‐issued by the issuer, an order the Court confirmed on April 17.