Nano Labs Corp. (OTC:CTLE) Pumped by The American Signal for $675,000
You know how frustrating it can be when you expend a lot of time and effort on a given task and despite your best efforts, you fail? The promoters touting Nano Labs Corp. ( OTC:CTLE ) probably know that feeling well enough. We covered the stock in the last quarter of 2012, when it was repeatedly pumped by various paid promoters. The biggest busybody among them all was The American Signal (TAS) who pocketed a delicious $650,000 in December to promote CTLE. The website containing the promotion, named TheAmericanSignal dot com has now been migrated to dot-net and still touts CTLE. The campaign quite likely consisted of a paper mailer in addition to the website, due to the formatting of the material and the tremendous compensation.[BANNER] Now TAS are back with a new email pump , following up on their old disclaimer promise to continue the marketing campaign for CTLE. This time the promoters bagged $675,000 to tout the supposedly bright future of CTLE and their great promise of success. The referenced press release is full of the usual optimistic forward-looking statements and not much else. The company's filings, however, tell a very different story. The latest publicly available financial report of CTLE is dated September 2012. The company was formerly known as Colorado Ceramic Tile, hence the ticker, and operated under that name until mid-2012. The ceramic business yielded no revenue and was abandoned but it seems CTLE is still far from successful, having switched to nanotechnology. Here is an excerpt from the financial data from their latest 10-Q : ZERO assets, cash or otherwise $171 thousand in liabilities ZERO revenue generated Considering the financial situation of the business, investors may be left wondering how CTLE is developing all those projects the press releases mention. As of Nov. 6, 2012 the company had two people in its employ who probably are the CEO, CFO and President Bernardo Chavirra and technical officer and supposed nanotech guru, Victor Castano. Despite the hundreds of thousands of dollars spent on promoting CTLE stock, the company is currently trading about 50% down from its December pump highs. Still, even at its current price, the market cap of CTLE is over $100 million - a valuation many may consider grossly inflated considering what the company has in its filings and their press releases containing mostly forward-looking optimism. Traders are advised to be very careful with promoted penny stocks, especially when the compensations handed to pumpers are in such amounts. Do your own research and stay safe!