Shares of Clean Wind Energy Tower Inc. (CWET) are having a windy trading session thus far with more than 4 times their 5-day average volume already traded. CWET stock has seen its PPS triple in the last month after circulation made its way around of the shareholder letter issued July 31st regarding various recent milestone events propelling the progress of the development of the Tower. What shareholders now want to know is if a big gust of wind might come around and blow the tower down.
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CWET Stock Chart
Market Cap: 15.63M
Last: 0.0662, up 0.0062 (10.33%)
Volume: 2,764,205
Dollar Volume: $180,676
High: 0.08
Low: 0.058
Trades: 221
Average Trade Size: 12,473
Authorized: 500,000,000
Issued and Outstanding: 238,994,584
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The best news you could get when digging into the 10-Q is that Asher Enterprises has agreed to restrict its ability to convert the Notes and receive shares of common stock such that the number of shares of common stock held by them in the aggregate and their affiliates after such conversion or exercise does not exceed 4.99% of the then issued and outstanding shares of common stock.
About CWET Stock
Clean Wind Energy Tower, Inc., formerly known as Superior Silver Mines, Inc., was incorporated in the State of Idaho on January 22, 1962 as Superior Mines Company and then changed its name to Superior Silver Mines, Inc. The Company reincorporated as a Nevada corporation on December 27, 2010. The Company has been dormant for a number of years, and has no known mineral reserves.
The Company is in a development stage and does not have any revenues from operations and will be dependent on funds raise to satisfy its ongoing capital requirements for at least the next 12 months.
Bottom Line: The wind beneath the wings of this penny stock could soon send this pigeon back to its stoop. CWET stock is tainted and likely to never see a dime simply because of its connection to Asher Enterprises.
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