Tuesday, April 27, 2010
CWRN - Cannot Pay It's Bills - Default at Secratary of State
I keep wanting to type CWRM, not CWRN, as that was the ticker prior to the last reverse split. Seemingly this company has the money to issue press releases, but not enough money to keep their filings at the Nevada Secratary of State up to date. One recent press release touted a $11 + million headline number to try to draw the fish closer to the lures. It seems investors don't mind buying blindly when a quick look at the SOS would show the company is not current and a check of Pink Sheets shows a big stop sign. A default status at the SOS coupled with a big red stop sign at Pink Sheets is never a good sign for a sub-penny stock.
With 6 billion shares authorized to sell into the open market, there will be plenty of supply to throw out to the sheep.
This stock has gone from $260 to $.0027 the last few years. It is not one of the worst stocks out there, and it has shown signs of a bounce. You really want to be on your toes with CWRN and realize the overall trend is down and any bounce should be taken advantage of quickly.