Clean Coal Technologies Inc (OTCMKTS:CCTC) Surges Ahead Of Corporate Update
After sitting relatively flat for a couple of sessions the stock of Clean Coal Technologies (OTCMKTS:CCTC) made a sizable jump during yesterday’s trading. It moved up from an opening price of $0.879 and closed at $0.962 for a gain of over 10%. The positive performance took place on above-average volume of 606 thousand shares.
Investors might have decided to take a position into the stock prior to today’s corporate business update conference call and webcast that were announced on September 29. CCTC certainly have a lot of things to talk about. The company’s test plant was successfully transferred to AES (NYSE:AES)’s Shady Point Facility in Oklahoma. When the plant has been reassembled it will start testing Powder River Basin Coal. Today’s update call is supposed to provide more details about the company’s plans to finally commercialize their Pristine M technology.
CCTC might also want to tell investors what is happening with their financial filings. If you open the profile page of the company on OTCMarkets you will undoubtedly notice the OTC Pink Limited Information Sign. It was put their because CCTC‘s latest financial report covers the quarter ended September 30, 2014, which means that the numbers inside it are now more than a year old. In a PR issued at the start of September, this year, the company stated that it is working alongside its auditors to get the filings ready in the next fifteen business days. Well, that period is now long over but there is no sign of the missing reports.
In addition, although CCTC have stated that their outstanding convertible debt has been either retired or restructured it hasn’t been revealed if any of it has been turned into common shares. This is rather important because some of the debt may have been converted into shares at discounts ranging from 25% to 42%. And as we have been warning you even the current financing deals of the company through promissory notes, under certain conditions, may be turned into units consisting of 1 common shares and a warrant for the purchase of 1 share at an exercise price of just $0.10.
Ultimately, if CCTC will be able to sustain their current market price will depend on the information they announce during the call. If the update fails to meet investors’ expectations the stock could quickly crash back down to its previous price ranges – at the start of August CCTC were sitting a little over $0.2 per share.
