A third party paid $300,000 for the provided investor relation services, which secured a 2.38 million share volume and a 17.69% jump yesterday. The stock closed at $0.612 for a share, but even the promoters were too shy to spread the latest “news”, disseminated by the company in the form of press releases since the end of last month.
Obviously, it is almost for every one clear that CWNR has no business whatsoever and the delivery of some wind turbines or the next strategic alliance are not worth mentioning even in a paid promoting newsletter. Thus, the promoters put the announced on Monday forward stock split and the shorting activity of the market makers into the center of their marketing campaign.
Following Monday’s press release, a 2-for-1 forward split is planned, still subject to approval by the FINRA. According to the promoters, the shares will accumulate a lot of buying pressure in the days surrounding the announcement, and correspondingly the newsletter subscribers are advised not to miss the chance to profit from the increase publicity.
The second promoters’ argument for buying CWNR shares, the possible short squeeze, might sound plausible as well. Over 1.5 million shares have been shorted during the last three trading session, but as no one knows exactly how many shares are out there, the chance to turn the shorters’ “stupidity” into a profit sounds also like made up out of thin air.
The company is not filing with the SEC and states in its latest financial report published on the OTC Markets page to have around 119,000 shares of common stock outstanding by the end of this June. One of the promoters claims to know more, however. According to his compensated with $5,000 trading alert, there are 65.1 million shares currently, from which 9 million are in the public float.
