The Pump For Clean Coal Technologies, Inc. (OTCMKTS:CCTC) Fails To Produce Results
The stock of Clean Coal Technologies, Inc. (OTCMKTS:CCTC) dropped by 5% to close at $0.038 during yesterday’s market despite the pump attempts. Interest in the stock was still considerable resulting in more than 6 million shares traded. With most of the major promoters moving on the decline in price might be even bigger.
Despite the considerable sums distributed among the newsletters the ticker remained mostly unaffected. On Monday even Stock Mister, one of the bigger pumpers around, managed to lift the stock by only 9% which didn’t stop them from bagging $90 000 as compensation. Yesterday the touting torch was picked by StockRockAndRoll, StockBomb and PennyStockLocks, affiliates of MJ Capital, who received $15 000 for their work. On May 13 PennyStockLocks took part in the pump of Feel Golf Co., Inc. (OTCMKTS:FEEL) with a much more devastating results. The ticker bombed hard and is still unable to recover.
CCTC are a cleaner-energy technology company that have developed a way to convert raw coal into a cleaner burning fuel. They have been trying to create a small-scale plant utilizing this process since 2012 and according to their latest announcement it should be commissioned somewhere between August and September. Well, that is if it doesn’t get postponed once again.
Looking at their financials doesn’t inspire much confidence either. According to their quarterly report for the period ending March 31 they had:
- $244 thousand cash
- $260 thousand total current assets
- $1.5 million total current liabilities
- $1.2 million net loss
- no revenues for the period
Any form of income for CCTC is to be expected 12 to 14 months after the completion of their plant so for
now investors shouldn’t expect any major improvement. The company is also closing in on its authorized amount of 975 million common shares currently sitting at 862 million.
With the projected date coming closer and closer a hype-generated spike may occur but for now there are too many red flags surrounding the company for it to be a good choice for long-term investment.
