As already reported on hotstocked.com, the magnificent performance of CWNR shares these days has been strongly supported, and probably initiated, by a costly stock promotion that has brought the buyers to the market on the one side, and that that has attracted a lot of shorters on the other. It is a fact that the shares keep trading above their upper price band and that they keep going further up into the overbought area. Some technical indicators point that even more gains are possible as the one dollar level appears to be what the promoters are again looking for, but still the further facts about the company should not be left aside.
While Crosswind Renewable Energy could not stop issuing more and more press releases about its numerous desired and maybe planned distribution contracts and licensing agreements, not a single financial report has appeared recently neither by the SEC, nor on the OTC Markets homepage. From what is known, however, CWNR is a company with no assets or operation that is so admired only due to its intentions to enter the hot renewable energy sector.
Also, it is known that the company has been created back in 2002/2003 and has since then changed its name and stock ticker a number of times. That makes it highly questionable if Crosswind renewable ever had some profitable business, or some products different than its common stock. Speaking of that, it experienced two 1-for-250 and 1-for-300 respectively reverse stock splits and one 2-for-1 split in the past several years.
Yet, the number of shares outstanding and the public float looks like something that can only be speculated upon, which in turn makes it even more thrilling how yesterday’s after market close press release about the appointment of a new President and Director will reflect on the market today. Yesterday CWNR closed 13.89% higher than on Friday at $0.41 and now the promoters have even updated their expected additional compensation to $400,000.
