Nano Labs Corp. (OTCBB:CTLE) Manages To Close In The Green

The company is actively developing nanotechnologies to be used in a wide variety of products. According to the press releases made by the company they are testing coatings for commercial LED lightning systems, trying to create a revolutionary self-cleaning paint, at the same time researching a nano biotechnology mesh, which creates a mechanical barrier stopping blood flow, and finally last week came the process of extracting hydroxyapatite, a material used in dentistry, orthopedy and some prosthesis, form eggshells.

All this from a company that began its current business in October, 2012. It seems as they may be trying to get way too many birds using the same stone of nanotechnology. Not to mention the drastic change in operations. The company was trying to sell and install stone, tile and marble products for more than 16 years without ever earning a profit.

In order to evaluate their current performance we turned to the freshly filed quarterly report for the period ending March 31. According to it CLTE had the following financials :

• $166 thousand cash and also total current assets
• $649 total current liabilities
• no revenues
• $374 thousand net loss

The company has some cash to rely on and they expect to begin marketing of their nano coating products in mid June. Even if that is truly the case it will be some time before they start to generate any sorts of revenues.

Although CTLE is not being touted at the moment the ticker has seen its fair share of paid promotions. Looking at the chart we can attribute almost all of the positive spikes to one-off alert emails making the stock a risky venture for investment.