aka Colorado Ceramic Tile, Inc. (OTC:CTLE)
Update: CTLE is exploding upward on massive volume in recent days after the Company made some big announcements. This is a stock that traded as low as $0.0101 in recent weeks.
On November 13 CTLE announced the development of a next-generation nano coatings specifically designed for corrosion protection. The Company will be filing a patent application on this innovative technology, marketing another important breakthrough for the U.S.-based nanotechnology development company in the execution of its coatings business strategy in the oil and gas industry.
Nano Labs Corp. (OTC: CTLE) Started traded at a dime in May of this year to little fanfare and for the first 6 months the stock trended up to the $0.70 range on very little volume. Then in the second week of November CTLE saw an explosion in volume and the stock moved up quickly hitting an all-time high of $1.52 in mid-December.
In late December and early January CTLE dropped significantly back to its $0.50 support level. Since then the stock has been upward bound on accelerated volume and investors are wondering if it can regain its previous highs.
The stock has been subject to continued mass promotion; one of the promoters is Rocket Alerts reporting $675,000 compensation.
According to a recent press release Nano Labs Corp set course in nanotechnology as of October 2012, with newly added resources that encompass over 30 years of research and development in nanotechnology and hundreds of peer-reviewed and published research papers and patents.
On January 4, CTLE announced in a rather vague pr, yet another high-tech advance relating to greenhouse (GH) farming and agriculture, this being automated technology to control the dynamics of GH CO2 for improved crop yields, reduced energy consumption, and decreased environmental hazards. Designed to replace conventional manual control systems, the new technology holds promise to increase efficiencies in GH CO2 use by 20%, improve crop yields by up to 25%, and reduce energy consumption by up to 20%, the Company reported.
Conclusion: Currently trading at a total market valuation of well over $100 million, CTLE has no assets, no revenues and little chance of any revenues any time soon. The stock made some big gains at the end of last year due to the multi-million dollar stock promotion. Now trading back near its start point, investors are speculating this one takes off from here. Long term CTLE cannot maintain anywhere near current market valuation and will drop big once promo dollars run out.