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Is Eco Science Solutions Inc (OTCMKTS:ESSI) Showing Signs of Bad Health?

Eco Science Solutions Inc (OTCMKTS:ESSI)

If for no other reason to own Eco Science Solutions Inc (OTCMKTS:ESSI) is the fact that their shareholder meetings are based in Maui, Hawaii where they are headquartered. Eco Science Solutions develops technology based solution for the multi-billion dollar health and wellness industry. Their offerings include mobile Apps and enterprise software solutions. These digital platforms off the industry and their enthusiasts to more easily connect and transact e-commerce. [Note: The company was formerly known as Pristine Solutions Inc.)

Eco Science Solutions Inc (OTCMKTS:ESSI) has several apps. Herbo helps consumers find sources for alternative medicines and has a database of over 14,000 locations, delivery services, and physicians that provide products and services. Fitrix helps people track their daily fitness routines through the monitoring of one’s own goals including dietary and exercise schedules.

Eco Science Solutions Inc (OTCMKTS:ESSI) also offers a range of products under their pHion Balance nutritional supplement line. They were developed with the aim of helping people detox and replenish needed minerals. pHion Balance products were cleverly designed to be added to water so as to avoid the hassle of pills or measuring liquids.

Shares of Eco Science Solutions Inc (OTCMKTS:ESSI) are off over 15% today and have breeched the important $2 level. Shares are currently trading around $1.90. ESSI shares had a good run through most of 2016 and into February of 2017 when they were trading over $4. Some industry analysts bemoan the lack of transparency for the firm’s financial condition. According to their website, Eco Science Solutions Inc (OTCMKTS:ESSI) has not filed a financial statement or provided business guidance since October of 2016. While they may be following the technical requirements of the OTCQB exchange, it is not unusual for shareholder to demand more than what has been provide and on a more frequent basis.

In October, Eco Science Solutions Inc (OTCMKTS:ESSI) filed a form 10-Q with the Securities and Exchange Commission. In that filing the company listed, for the quarter, Total Assets of $72,831 but Total Current Liabilities were listed at over $2.9 million. Additionally, their quarterly net operating loss was $821, 226 which dwarfed the $171,573 loss for the same period on 2015. Lastly, for the nine months ended October 31, 2016 they had a negative cashflow loss of over $2.6 million compared to the 2015 loss figure of $675,578.

So while a trip to Maui may be something you aspire to, caution is the word of the day for Eco Science Solutions Inc (OTCMKTS:ESSI). Buying shares to attend their shareholder meeting may be much more expensive than anticipated.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance

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James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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