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By: AllPennyStocks.com
Whether and when the electric car becomes part of the nationwide consumer
vocabulary, one company out of Missouri is knocking at the door of public
consciousness to cash in on what it says is a growing new market.
The company is called, well, Electric Car Company Inc. (OTCBB:ELCR). The firm,
based in Springfield, is a vehicle conversion Company that specializes in
electric conversions and manufacturing for the Livery and Fleet Markets. In the
last week of April, it announced that those efforts were paying off in the form
of mouth-watering quarterly sales, numbering $584,000 in signed purchase orders,
or 13 vehicles being manufactured or converted into specialty vehicles.
ELCR brings together businesses specializing in customizing vehicles and power
trains, a business strategy geared to build a dominant presence in the
aftermarket automotive up-fitter segment, including, but not limited to,
so-called pure electric cars, as well as liquid propane conversions, limousines
and other livery vehicles, specialty fleet vehicles, classic cars and custom
restorations.
ELCR is anticipating having the first zero-emissions, “Pure Electric” livery
vehicles ready to unveil by the end of June, its long-term strategy being to
offer and expand the company’s line of products to revolutionize the specialty
automotive market.
The company has a fair head of steam behind it: in the last quarter of 2009,
ELCR reported total revenues of $1.1 million with a net loss from continuing
operations of $1.9 million. Losses are attributed to high start up costs as well
as a softening of the credit available in the automobile market. Last December,
the company announced it had $905,000 in purchased signed orders, a fair chunk
of which ($187,000) was the result of its connections made at the Limo Digest
Show in Atlantic City in November. One of the orders was for a pink super
stretch limo.
ELCR reports that approximately 50% of orders in the first quarter consisted of
buses to be converted into specialty "Party Buses" commonly used for special
events such as weddings and sporting events. The balance of production consists
of standard limousines manufactured from Cadillac Escalades, Ford Navigators and
Hummers.
The news of the hot first-quarter sales figures sent the stock trading like,
well, hotcakes, with more than 43 million shares changing hands, bringing the
price up around 0.006 cents a share, crawling out from its 52-week trough of
$0.0015 in March, and way down from its peak of nearly 43 cents reached last
June. But in a year where the automotive industry has taken its lumps, ELCR
could well see more exciting stock prices and share volume, and investors ignore
this stock at their peril.
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