CLNO – Pump And Dump Alert – March 22, 2013
This week were exposing one of the most popular Pump & Dumps: Cleantech Transit (CLNO).
That said, welcome to Pump and Dump Friday, where every week we identify at least one of the many potentially bogus promotions going on in penny stocks today.
If you dont know how these schemes work, be sure to check out our free report that exposes the whole thing.
Without further ado, here is todays disaster waiting to happen:
Cleantech Transit (CLNO)
I love how pumpers spin virtually everything they touch. And in the case of CLNO- its never been clearer! What do I mean?
Just looking at the chart the pumper BEST OTC used on this stock; theyre showing CLNO in the best possible light (shocking, really). Take a look at what they sent out this week to pump this stock
Looks like a real winner right?
WRONG!
I pulled up a one year chart on this stock, and as youll see- investors in Cleantech have simply taken a bath! See for yourself
Now thats a slightly different look one that shows CLNO shares are down more than 93% over the past year!
And theres good reason why shares are down.
For starters, Cleantech has seen cash reserves fall from $16,085 in October of 2011 down to $947 this past year. Whats more, assets fell from $1.01 million down to just $13,547!
As if thats not bad enough, revenues continue to be $0- as in NONE- for the life of the company! And expenses ran more than $1 million for the 12 months ending October 31st of last year.
With a net loss of $1.4 million on the books, things arent exactly going the way investors might hope.
Now- the pumper has not disclosed how much they were paid to tout this crappy stock. Their disclaimer makes no mention of a dollar amount which is a clear violation of SEC rules! Basically all they say is theyre frequently paid to promote stocks. Thats great, thanks (like we didnt know that).
The bottom line
No matter what the pumpers are saying, I seen no reason for investors to line up and buy this stock!
Other Penny Stocks Being Pumped This Week
GOFF Penny Stock Advice expects to be paid 10,000
NWCH Monster Stock Picks was paid $3,000
A final word (and warning).
This is just one of the potential pump and dumps we’ve seen lately.
Remember, theres a lot more of this going on than we can highlight here.
As you know, penny stocks are a great place to invest your money. You just have to do your due diligence to stay away from all the schemes and scams out there these days!
Until next time,
Brian Walker
Category: Pump & Dump Alerts
