According to CWNR latest stock chart, its share price has stayed at $3 since the stock started trading. Also according to that chart, CWNR had no trading activity at that level, before a sharp drop down at the end of September was followed by the 55.41% jump yesterday.
For experienced traders it is maybe clear that the company, its acclaimed business and its fancy press releases are most probably a fake. The same company and the same stock seem to hang around on the stock markets since 2003. Known as Stealth MediaLabs, Inc. and traded under SMBS up to September last year, CWNR has changed its name and ticker a number of times and this is the only thing related to their business that they have done so far.
Over the last years, the company has nev
er filed any financial data with the SEC and its securities have been de-registered by the commission in November last year. Some financial reports appeared on the OTC markets homepage in the beginning of the week, which also suggest that CWNR has a longer and much more interesting trading history than the current chart would suggest.
According to the submitted reports, over the last three years CWNR has never had any operations, revenues, any kind of assets or any cash. The only thing they ever had is a liability of $65,982 in the form of convertible notes, along with 29.7 million issued and outstanding shares of common stock at the end of 2007. That number has apparently been reduced since then, and is according the report 118,575 at the end of this June.
This cannot explain the 5.2 million share volume from yesterday and it is not known for how long such a company can exist, but still some day traders may see a chance to seize a formidable profit as long as the shares trade on the market and have not changed their ticker.[BANNER]
