Nano Labs Corp. (OTC:CTLE) $675,000 Pump Loses Steam
Yesterday Nano Labs Corp. (OTC:CTLE) closed over 13% down and reached $0.59 per share at the bell. The drop happened in the middle of an extended pump run by the promoters at The American Signal (TAS).
The promotional campaign on CTLE is run primarily by The American Signal who this time around pocketed a compensation of $675 thousand for advertising the stock, as disclosed in their promo’s disclaimer. The same outfit pumped CTLE back in December when their disclaimer listed a compensation of $650 thousand.
TAS still have a huge, colorful promotional material up on their eponymous dot net website. The promotional text seems to have remained unedited since late December when TAS last pumped CTLE, stating that the stock was under a dollar and would hardly stay there for long. Indeed it did not, it flopped to just above $0.5 in early 2013. Several smaller pumpers paid up to $15 thousand latched themselves onto CTLE as well.
At the same time, CTLE has released little new official information. Shareholders may have preferred an official update on the company’s financial situation instead of an optimistic letter for a year full of promise. The latest publicly available financial report of CTLE is dated September 2012 – months before the pumping started, and contains some rather disheartening numbers:
- ZERO total assets
- $209 thousand in liabilities
- ZERO revenue
According to the same most recent filing the company employed two people in total, one of whom was engaged on a part-time basis. A good guess would be that those people are CEO, CFO and sole director Bernardo Chavarria and Dr. Victor Castano who is chief scientific officer and supposedly brought valuable nanotechnology to the company. CTLE was formerly known as Colorado Ceramic Tile, a business that failed to generate revenue and was abandoned.
Considering the lack of current filings from CTLE and the depressing numbers in their last report, it seems very hard to get excited about the company as the solid fundamentals pumpers speak of are simply not there.
For those still excited about CTLE, here is a look at a previous pick of TITAN Stock Alerts, one of the pumpers touting the company for the modest fee of $10 thousand. The promoters pumped Global Clean Energy, Inc. (PINK:GCEI) back in late October. After a brief run the stock crashed and is now trading about 50% down.
Do your own research and don’t put your money into any stock just because paid advertisements tell you it’s the next big thing out there.