Green Equity Holdings, Inc. (PINK:CXTO) is very likely to have extraordinary performance during the whole day, as the company announced a new letter of intent and further interest in the stock was raised by a recommendation through pennystockshark.com and stockprofessors.com (both websites belong to the same people).The letter of intent is apparently signed with Strategic Energy Supplies and incorporates plans to build brown grease feedstock recycling plants. That LOI should roll into a joint venture by Oct. 31, 2010 if all is good. However, with small cap companies LOI’s often fail to become a real deal, especially when the stock is further promoted behind the scene, which is the case.
Penny Stock Shark got a compensation of $14 thousand for promoting CXTO. Some of the key facts in the recommendation were questionable, but nonetheless we’re up for some quick one-day gains on their stock. The company was presented as having small staff, but is supposed to have a very experienced management to compensate.[BANNER]
The business goes around by investing in novel technologies, concentrating mainly on the clean technology market. They currently hold a license to operate plants based on Grease Trap waste technology, but the financial situation shows their business will not make a step further until funding is available.
According to their latest SEC fillings, the company has a total of $7.8 thousand in cash. CXTO’s total assets are valued at $90 thousand and the liabilities are $1.27 million. That doesn’t look like a healthy balance sheet for any company.
No wonder the business hasn’t made a dime in the last quarter of 2010. The year ago results weren’t much better as well with only $2.5 thousand in sales. The negative bottom line is being covered up by selling additional stock.
