Clean Coal Technologies, Inc. (PINK:CCTC) has made a few impressive gains since last week, though on Tuesday the up 
move was broken. Nevertheless, CCTC managed to grab the climb again.
Yesterday, the stock jumped 19.07% and its traded volume exceeded 3 million shares for the day. Now, the question is if the current up move will resist for longer this time.
The records show that Clean Coal has not released any news recently and no one is familiar with its up-to date operations. The last announcement by the company came up in end-February, this year.
According to it, Clean Coal Technologies, Inc. and Jindal Steel & Power Ltd. have entered into a Memorandum of Understanding to form a joint venture. The term of the Memorandum of Understanding has been extended until March 15, 2012 while the parties are working towards finalizing the definitive agreements.
Apparently, now everyone is looking forward to finalizing the agreements, which is still to be confirmed. Apart from this news, no other data on CCTC has been revealed.
Unfortunately, the company’s financials have not improved yet. As of September 30, 2011 the company had very poor financial resources to pursue its business plan.[BANNER]
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.
CCTC stated that they had signed a consulting agreement with a person 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.
However, the new consultant will be paid in restricted shares of common stock, which would only dilute CCTC shareholders if no successful contracts are signed.
In addition, Clean Coal has outstanding convertible debts that could cause more dilution, while the company’s liabilities continue to increase.
