It has been almost two months without any news from Cleantech Transit, Inc. (OTC:CLNO), yet the stock price made a strange move up on Friday. For today’s session, new promoting e-mails have been sent, maybe to remind traders about the stock that seems to get slowly forgotten. 
CLNO closed Friday session at 0.11 for a share on a trading volume of nearly 7,500 traded shares. That means a jump of the share price of 22.22%, while during the session CLNO even stayed at the $0.12 resistance for quite some time. But such an intraday chart is typical for CLNO in the last several weeks, even with the latest news coming out back in June.
We received some new promoting e-mails yesterday, which appear to be sent under the old promotional campaign for CLNO that is running the whole months. Compensation consists again of 5,000,000 restricted shares, whereby 1,000,000 of those shares were delivered by a third party and the rest directly by the company under an IR contract. That kind of compensation suggests the promoters are holding shares and probably intend to sell them out as soon as possible, which in turn, could bring CLNO share price down.
Cleantech Transit, Inc. quarter report for the three months ended April 30, 2011 came out in June, but showed no progress on the new projects whatsoever. The company still has the option to acquire a 25% interest in a ½ Megawatt biomass energy project located in California and currently owned by Phoenix Energy. Yet, for now, it looks like the potential costs and benefits for CLNO remain uncertain.
