Eco Innovation Group (ECOX) Receives Strong Speculative Buy Rating from Harbinger Research Following Strategic Costa Rica Expansion
Rhea-AI Summary
Eco Innovation Group (OTC:ECOX) announced that Harbinger Research initiated coverage with a Buy rating following ECOX's merger with WRA Holdings on December 22, 2025. Harbinger cited ECOX's post-merger focus on large-scale infrastructure, environmental redevelopment, and sustainable development initiatives in Costa Rica, and noted improvements to capitalization and elimination of legacy non-strategic obligations.
ECOX said it engaged Rockport Investment Partners to perform an independent ASC 805 valuation of assets from the WRA share exchange to support a PCAOB audit for fiscal 2025 and plans to reinstate SEC reporting status after completion.
Positive
- Merger with WRA expands operating platform into national infrastructure
- Harbinger Research initiated coverage with a Buy rating
- Engaged Rockport for an independent ASC 805 valuation to support PCAOB audit
- Company intends to reinstate SEC reporting after valuation and audit
Negative
- SEC reporting was voluntarily withdrawn in 2023, requiring reinstatement steps
- No quantified financial metrics or guidance disclosed in the announcement
News Market Reaction
On the day this news was published, ECOX gained 200.00%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
SCOTTSDALE, AZ / ACCESS Newswire / December 22, 2025 / Eco Innovation Group, Inc. (OTC:ECOX) ("ECOX" or the "Company") and WRA Holdings, Inc. ("WRA") today announced that Harbinger Research, a CFA-led independent research firm, has initiated coverage of the Company with a Buy rating following the completion of ECOX's merger with WRA Holdings, Inc. ("WRA").
The coverage initiation reflects Harbinger Research's assessment of ECOX's evolving business profile following the merger, including the Company's strategic focus on large-scale infrastructure, environmental redevelopment, and sustainable development initiatives in Costa Rica. The research report highlights improvements to the Company's capitalization following the WRA merger, the elimination of legacy non-strategic obligations, and the expanded scope of ECOX's operating platform through WRA's national infrastructure initiatives.
According to the report, Harbinger Research evaluated the Company's post-merger positioning, governance framework, and development strategy, noting that the transaction materially reshapes ECOX's long-term growth profile. The analyst issued a Buy rating based on qualitative and strategic factors, citing the scale of WRA's development plans and the Company's evolving capital structure.
"Harbinger Research's coverage comes at an important point in the Company's evolution," said Richard Hawkins, Chief Executive Officer of Eco Innovation Group. "It reflects the progress we have made in transitioning Eco Innovation Group into a fundamentally different operating platform through the WRA merger and supports our focus on disciplined growth, governance, and shareholder alignment. We remain focused on improving our capitalization and executing against a clearly defined strategy."
Cornel Alvarado, President and Chief Executive Officer of WRA Holdings, Inc., added, "The Harbinger analysis underscores the significance of the platform we are building in Costa Rica. Our national infrastructure initiatives are designed for scale, durability, and long-term economic and environmental impact, and we believe this coverage provides the market with an informed perspective on that vision."
ECOX is engaging Rockport Investment Partners to perform an independent valuation of assets acquired in the WRA share exchange. The valuation will be recorded under ASC 805 and is required for the Company to complete a PCAOB audit for fiscal year 2025. Upon completion, ECOX intends to reinstate its SEC reporting status, which it voluntarily withdrew from in 2023.
The full Harbinger Research coverage report is available here:
View Harbinger Research Report here
To learn more about WRA's national infrastructure initiatives, investors may also review the Costa Rica Visioning Presentation and the Company's updated WRA fact sheet, each of which can be viewed at the following links:
View the full Costa Rica Visioning Presentation here
About WRA Holdings, Inc.
WRA Holdings, Inc. is a multinational infrastructure development and investment company focused on public-private partnership projects that drive economic growth, environmental renewal, and urban redevelopment. The company's flagship Costa Rica initiative integrates national rail, airport and logistics systems, port revitalization, waste-to-energy conversion, clean-water programs, and healthcare infrastructure to build a cleaner, more connected nation and foster regional connectivity and long-term prosperity across Central America. WRA Holdings operates alongside its U.S. construction affiliate based in Southern California, WRA Construction Inc., a Southern California-based general contractor with over 45 years of field experience. WRA Construction specializes in grading, underground utilities-including water, sewer, and storm drain systems-and advanced air-vacuum excavation services. The company is Gold Shovel Standard certified and employs trained union professionals dedicated to safety and quality. This domestic construction expertise complements WRA Holdings' international infrastructure capabilities, providing end-to-end project execution across markets.
About Eco Innovation Group, Inc.
Eco Innovation Group, Inc. (OTC: ECOX) is a Nevada corporation focused on providing strategic advisory and compliance services tailored to micro-cap and small-cap public companies and private enterprises preparing to enter the public markets. ECOX bridges the gap between under-resourced issuers and capital markets access by structuring and supporting share-exchange mergers, public offerings, and other transactions that create pathways for growth and shareholder value.
About Harbinger Research
Harbinger Research is an independent equity research firm providing in-depth analysis and coverage of smaller U.S.-traded companies to help improve transparency, liquidity, and access to capital for emerging public issuers. The firm's research includes Coverage Initiation reports and investment ratings based on a systematic evaluation of business fundamentals, risk profiles, and potential opportunity, with ratings ranging from Strong Buy to Strong Sell. Harbinger Research's mission is to deliver detailed, professionally articulated research coverage that is accessible to investors and the issuers it covers. Harbinger Research is led by analysts who adhere to industry standards and ethical guidelines in the preparation of research reports
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include statements regarding the Company's plans, objectives, expectations, and intentions, including statements regarding potential acquisitions, SEC registration, exchange uplisting, share cancellations, and future business operations. Words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "should," "will," "would" and similar expressions identify forward-looking statements. These statements are based on management's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements. Important factors that could cause such differences include, but are not limited to: the ability to complete acquisitions on favorable terms or at all; the ability to integrate acquired businesses successfully; risks inherent in the mining, energy storage, and infrastructure sectors; regulatory and permitting risks; market conditions; competitive factors; the ability to obtain financing; the ability to engage audit firms and complete audited financial statements; the ability to achieve and maintain compliance with SEC and exchange listing requirements; and general economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
Contact:
Investor Relations
ecoinnovations.info@gmail.com
SOURCE: Eco Innovation Group, Inc
View the original press release on ACCESS Newswire
FAQ
What did Harbinger Research rate ECOX (OTC:ECOX) after the WRA merger on December 22, 2025?
How does the ECOX and WRA merger change ECOX's business strategy in Costa Rica?
Why did ECOX hire Rockport Investment Partners after the WRA share exchange?
When does ECOX plan to reinstate SEC reporting status for OTC:ECOX?
Did the announcement disclose any revenue, earnings, or financial guidance for ECOX (OTC:ECOX)?
What corporate improvements did Harbinger Research highlight for ECOX post-merger?
