On Friday the stock closed at $0.20 for a share and the trading volume was about 83,000 shares, substantially lower than the average. The promotions continue this month as well, this time even stronger, and with the participation of the company itself. The latest advertising e-mails went out yesterday and the new promoters will get a compensation straight from the company, consisting of 2 million restricted shares of CLNO.
As already mentioned on www.hotstocked.com, Clean Transit has currently no cash and no assets, but a new CEO determined to raise the investor awareness for his company. So far the gained traders’ attention through the countless promotions did not lead to a stable increase in the share price, on the contrary. CLNO currently trades much closer to its yearly low, hit just last month, than to its yearly high at $1.60.
As there is still no SEC filing to confirm the announced in the middle of February acquisition of an interest in a biomass power plant in California, it is not a surprise that all the updates and details released after that could not raise the already hyped value of the company’s shares. CLNO even announced that it can apply for a renewable energy cash back incentive program offered by the U.S. Federal Government and could potentially get grant payments.
Further, the company claims that the first plant from the project gets into full commercial production in the second quarter of this year. All that information has been taken with suspicion so far, and the new promotion may not be able to change this.
