CWRN - Another Company That Excels At Printing Shares and Little Else

CWRN - Lets get right to the point on this one too.  They just filed a quarterly report with some real juicy details:

• They have a grand total of $61.00 in the bank.  My 3 year old daughter has more than $61 in her Cinderella Coin Holder.
  
• Liabilities of $2,274,670
  
• Revenue of $0

How do you pay back $2,274,670 in debt when you have zero revenue and $61 in the bank?  Sounds like a trick question.  Oh wait a second.  This is a pink sheet stock with 6 billion shares authorized to be sold on the open market.

How about issuing some swell sounding press releases and selling as much stock as possible before people realize they have bought stock in a company that has zero revenue and a whopping $61 in the bank.

You'd think after doing this for several years the company would finally run out of people to sucker into buying shares.  Well I guess not.

A $2,200 investment in CWRN is worth in the pennies today.

• 
  
  
  
  

  Outstanding Shares

  5,289,501,980 as of Sep 30, 2009
  
  
  
  
• 
  
  
  
  

  Authorized Shares

  6,000,000,000 as of Sep 30, 2009
  
  
  
  

EWRC, EVFL, CMGR, and now CWRN.  Stay far away from these thieving penny stocks.  They want your money and they will say and do anything to get it.