Last week, Clean Coal Technologies, Inc. (PINK:CCTC) broke up the climb for a while, though this week the stock is moving up 
again.
After a 22.81% gain on Monday, yesterday CCTC added another 0.29% to its price while trading about 972 on the market. However, the reason for the sudden up move remained in mystery.
CCT has not released any news on its projects lately and investors have no clue about them. The last announcement by the company came up on Jan 5 when they reported that CCT was hosting an investor update web cast on January 18, this year. Since then no further information on the company was released, though CCTC got the climb.
Unfortunately, the gain was hardly due to the company’s financials. According to the 10-Q, CCTC owns a patented technology to transform low-rank coal into a cleaner and more efficient fuel, though still no project has been started that could finally lead to some revenue.[BANNER]
Thus, the company still has very limited financial resources to pursue its business plan. CCTC stated that it had signed a consulting agreement with a person named S.K. Grover who is supposed to help the company in identifying and contacting potential partners for projects that could deploy CCTC technology in India, Indonesia and the Philippines.
The new consultant will be paid in restricted shares of common stock, which would only dilute CCTC shareholders if no successful contracts are signed, and the company also has outstanding convertible debts that could cause more dilution.
At the same time, the liabilities and stockholders’ deficit of CCTC keep increasing, which confirms the going concern status of the company.
