CleanTech Transit Inc (PINK:CLNO) Touted by a CEO-related Entity

Just as David James was browsing through the OTC marketplace to pick a couple of stocks to invest in, he got a free trade alert telling him to put his money into a debt-ridden, loss-oriented sub-penny stock. Of course, that’s not what the email explixitly contained. Rather, it is derived from the mere facts we will talk about right now.

To begin with, the stock which CRWEselect.com advises investors to put on their watchlists is that of CleanTech Transit Inc (PINK:CLNO). The main reason, CRWEselect.com tell us, is the ‘very discounted rate’ at which CLNO is quoted right now, i.e $0.0055 per share, which is well below the 52-week high of $0.14 per share. However, what the email deliberately avoids saying is much more interesting.

For a start, the main person in charge of CRWEselect is Kenneth Bosket, who is also the current CEO of … CLNO. This is a direct result of a management agreement by and between CLNO and Crown Equity Holdings Inc (PINK:CRWE) under which CLNO is managed by officers and directors from CRWE. For the record, CRWE is also a sub-penny stock specialized in online advertising. So, what we’ve got here is practically a self-advertisement on behalf of CLNO.

Second, Bosket has a personal reason for trying so hard to ramp up the market value of CLNO shares. He is simply a holder of millions of common CLNO shares which he receives for running the company. As of Oct. 31, 2012, CLNO issued a whopping 55 million shares at $0.0012 (CLNO‘s market value back then) to pay off for Bosket’s services. So, at $0.0055 per share, which is the current price of CLNO, he could easily short a big chunk of his stake at the detriment of all other investors who have just got in.

Throughout its seven years of existence, CLNO‘s list of achievements is hardly anything worth mentioning, namely:

• four years wasted on gold and silver exploration between 2006 and 2010
• two worthless subsidiaries founded in July 2011 carrying out no operations whatsoever
• a single investment made in Aug. 2011 that eventually got impaired to zero in Jul. 2012

Considering that Mr. Bosket was hired to manage CLNO on May 23, 2011, isn’t he responsible for those wrong and fruitless steps bulleted out above?

On a side note, we caught an aerial glimpse of CRWE‘s corporate address. The place CRWE, CRWE Select and CLNO are supposedly run from looks like a big two-storey residential house with an outside pool located amidst many other buildings of the same type (see accompanying picture). If we are to trust the satellite data, this registered address does not exactly relate to deficit-ridden companies whose stock has already been relegated to the twilight sub-penny zone on the OTC marketplace.

Based on the facts mentioned above, David James would rather stay away not only from CLNO and CRWE, but also all those penny stocks which used to be alerted by CRWEselect.com in the past. To see a complete list of these stocks, check out our historical record on CRWEselect.com on this location.