Pacific Clean Water Technologies, Inc. f/k/a Unseen Solar, Inc. (OTCMKTS:PCWT) Too Little, Too Late
We are coming close to a week since Pacific Clean Water Technologies, Inc. f/k/a Unseen Solar, Inc. (OTCMKTS:PCWT) got suspended by the SEC, and a week until it resumes trading.
PCWT wasn’t the first pump job of Awesome Penny Stocks (APS) and Victory Mark to get suspended. The pumpers’ previous tout – PacWest Equities (OTCMKTS:PWEI) got suspended on Sept. 17, just three sessions after its pump job started.
Unlike PWEI, which went dead silent after the suspension, PCWT has at least tried to address the issue. On Tuesday, the company issued a press release saying it and its officers “…wish to warn the public regarding the unauthorized and unsolicited use of the Company press releases…”
While that’s more than what PWEI did it maybe too little, too late. Generally, when someone wants to warn someone of something, it should be done before the danger. In this case the “warning” came several days after the fact.
The press release seems to suggest that the company was somehow unaware of what was going on. Even if that was the case, it would be sloppy management, to put it mildly. The pump campaign had started nearly a month before the suspension.
PCWT goes on to state it “deeply regrets the inconvenience…” Some may argue losing thousands of dollars is more than an inconvenience. PCWT will resume trading next Friday, but it’s mostly likely going to do so on the grey market at a fraction of the price before the suspension.
We haven’t received any emails from APS or Victory Mark’s newsletters since Oct. 9. With two pumps in a row getting suspended, we are curious to see whether the pumpers will have the audacity to go for another pump any time soon.