Pacific Clean Water Technologies, Inc. f/k/a Unseen Solar, Inc. (OTCMKTS:PCWT) Follows Usual Pattern

Pacific Clean Water Technologies, Inc. f/k/a Unseen Solar, Inc. (OTCMKTS:PCWT) gained a moderate 3.89% in it’s second session after being publicly announced as the new Awesome Penny Stocks (APS) pick.

PCWT closed at $0.187 per share. The volume fell just short of 12 million shares. The lower volume and relatively small gain fits the pattern of previous APS pump jobs, including PacWest Equities Inc (OTCMKTS:PWEI).

The dollar volume was lower than usual for the second day of an APS pump, but as mentioned in my previous article, this shouldn’t come as much of a surprise after PWEI got suspended.

Another point I touched upon in the previous article, is the fact that according to PCWT‘s filings, the company is generating revenue. This lessens the chance of PCWT getting suspended, although that’s still a possibility.

Looking through the filings can raise some questions about the share structure. This 8-K states that after a stock purchase transaction the number of outstanding shares (OS) was 7.5 million. The same document covers a 40 for 1 forward stock split presented as a dividend. That dividend would make the OS 300 million shares.

In the latest 10-Q, the OS is again 300 million, although in the meantime, there was another dividend (split). The first one was in December 2012 and the second one, a 3 for 1, was on Apr. 9, 2013. The numbers just don’t add up.

Even so, PCWT is slightly up today in early trading. If it continues following the usual APS pump pattern, pump players maybe able to make some profits, however, the risk in playing PCWT simply can’t be over-stated.