Clean Coal Technologies, Inc. (OCTMKTS:CCTC) Pump Shaky From Day One
When the market opened yesterday, the pump campaign for Clean Coal Technologies, Inc. (OTCMKTS:CCTC) was already in effect, with nearly a dozen email alerts sent for the stock over the weekend and before the opening bell. It seems, however, the story woven by the promoters was not convincing enough, as after opening around 30% up, CCTC shares slipped slowly to arrive at a close just 9% in the green.
The barrage of paid pumps continued yesterday, with new emails coming throughout the session and after hours. The company didn’t want to leave promoters alone in their efforts to hype up the stock and after about a month of silence came up with a new press release. The release was mostly fluff and investors were not overjoyed at the news. The pilot plant the company claims to have under construction is reportedly to be expanded with a batch processor that will add ‘capabilities’ to the scaled-down facility.
Here is a brief look at the numbers CCTC had to show as of their latest quarterly report for the period ended March 2013:
- $244 thousand in cash
- ZERO revenues
- $1.2 million quarterly net loss
- $210 million accumulated deficit
The company is continuously pushing its revenue-generating promises of commissioning the pilot plant ever further. A press release from mid-2012 claimed that CCTC expected to successfully commission the facility by the end of last year. Now this date has shifted to August-September of this year. It’s not clear whether the company will decide to give this tentative date another bump and send it into next year or not.
In Q1 the company also issued over 11 million shares of common stock for cash and services rendered. That number has grown to at least 19.5 million, with 7.5 million more issued after March 31 for consultant services. This may at first glance seem like dilution, but hey, who cares when you have 871 million common shares issued and outstanding.
After the Stock Mister disclosed receiving $90 thousand for promoting CCTC, the promoters sending touts yesterday reveal they got paid $35 thousand for their efforts. Among them was Penny Stock Circle, who ran other abysmal pumps in the past. One example is their attempt to promote Solar America Corporation (OTCBB:SOLX) – a pump that saw believers lose roughly 70% of their investment in a matter of days as SOLX went to slide unstoppably after the pump.