Is there a chance for eCrypt Technologies, Inc. (OTC:ECRY) to get the up move again? After a series of gains over the past week, yesterday the stock moved back down on the chart. Though, maybe ECRY still has the opportunity to climb up due to the latest promotions of the stock.

Yesterday, ECRY started a promotional campaign reporting that the company has just appointed a former congressman to its board. The stock alerts appeared on a couple of promotional websites that have received a compensation of $10.000 for the campaign. The paying party was not revealed, though the promotions most probably will heat up ECRY’s market position any minute.

In fact, by releasing the news on the company’s new appointment, eCrypt Technologies has additionally secured its stock price with optimistic statements and future projections for its new product. Yet, only time is capable of proving the expectations of the management team.

eCrypt Technologies, Inc. is an information security firm focused on ease of use and end user control. Apart from the congressman appointment, the company has not produced much news on its business, excluding its recent financial report. However, it does not look as inspiring as the management’s statements.

By December 31, 2010 the liabilities of eCrypt were more than five time higher than its total assets and the stockholders’ deficit has exceeded $205 thousand. Meanwhile, the company’s net loss has been increasing as well as its accumulated deficit during the development stage period.[BANNER]

eCrypt anticipates that it will require approximately $4 million of working capital to complete all of its desired business activity during the next twelve months. Thus, the management plans to seek additional capital through a private placement and public offering of its common stock. However, the team claims that the company’s ability to continue as a going concern is dependent upon its ability to generate profitable operations and/or obtain the necessary financing and repay its liabilities. So, in case ECRY doesn’t find a way to achieve profitability, its future existence might be questionable.

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Last week, a new costly promotional campaign tried to make IceWEB, Inc. (OTC:IWEB) stock price leave again the lower trading range. Results have been limited so far and along with the start of the promotions the company registered millions of new shares that can soon get offered on the market.

IWEB closed Friday’s tradings session at $0.175 with a 3% higher share price and a higher than the average trading volume of 812,000 shares. Apart from the improved again liquidity, the success of the new stock promotional campaign is still far away from that observed last September and October. IWEB share price has so far not managed to break up its sideways movement and even the volatility has not been expanded to provide traders with a chance for considerable gains.

According to the promoters’ disclosures, one can assume that this new advertising action for IWEB stock has been compensated with a total of $170,000 in cash, paid by a third party. The promoters have also been given shares of common stock, though it looks like that shares have been sold by now.

The annual report filed at the end of last year was not a surprise for the market and the company has yet to justify its market value. IceWeb assets have decreased and the revenues for the three months ended September 2010 were less than half the revenues from the previous quarter.

Though, as anticipated on hotstocked.com last year, it seems like dilution has already become a fact. A registration statement for new shares of common stock was filed two weeks ago. The amount to be registered exceeds 26 million, 18 million of which already issued and 8 million issuable upon exercise of warrants with an exercise price of $0.4 per share.

With the new shares, IWEB has now more than 146 million shares, not counting the additional dilution potential from the 626,667 shares of convertible preferred stock and the stock options to purchase another 8 million shares of common stock.

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China BAK Battery Inc. (NASDAQ:CBAK) was not ready to go lower on Tuesday, but still ended up hitting a new 52-week low, followed by a rebound.

Many traders took the rebound as a chance for quick upside profits. The increase in the volume suggests we will be seeing at least a modest price run before the sentiment is broken. The general stock price direction should remain negative or enter consolidation phase. The preceding strong downtrend is adding additional psychological and technical pressure.[BANNER]

Fundamentals point to what many investors could take for an undervalued indication. P/S and P/B ratios are lower than 1, at 0.45 and 0.53. Market cap of $91 million is well below the net tangible assets worth of $171 million. And on top of that, we have a new 52-week low in price.

However, the company deserves to trade low if you look at their performance. Top line has not been growing in the recent quarters and net losses were booked for the past two years. Positive cash flow is sustained through borrowings. Balance sheet looks depressing, considering they have “157.3 million in short-term bank loans maturing in less than one year, $11.7 million in long-term bank loans maturing within one year”. CBAK can only cover around $60 million with cash and cash-like liquidity assets.

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I hate jumping on bandwagons, but KATX looks appealing here, even after posting some 2,000% gain from the November lows.