Is Clenergen Corp another pump and dump scam?

pboyles

Legendary member
8,072 1,301
I've noticed that for 2 days running spammers have been promoting Clenergen Corp CRGE.OB on Trade2Win. Yesterday all their posts were deleted but I see they are back today. So for the benefit of anyone searching for information about this company you should take note that this is a restricted stock and the public have been advised by the SEC not to trade restricted stocks because they are easily manipulated by scammers.
 

anley

Senior member
2,730 229
Thanks for the heads up :)

See everyone, all it takes is a touch of research and common sense to spot these scams at 100 paces.

Remember - THE INTERNET IS YOUR BEST FRIEND
 

zhjollis

Newbie
6 0
Hello guys,

Sorry I am new in this forum but as I googled for Clenergen and saw this thread I just needed to register here.
So -
I also stumbled upon CRGE.OB some days ago and did a small research about the company. Saw that they have promoted themselves also before , but it has been mainly investor awareness stuff. I also found ( bought) an analysis report for some hundred bucks about the company and they say only good words

I uploaded it to MF:
http://www.mediafire.com/?4fbrwrzp3yozz6f

So I do not know, whether to consider it as another P&D or more as a long term hold. Anyway I bought some thousand shares - as it is really on his 52w low and think that I made it before their big advertisement campaign.
 

pboyles

Legendary member
8,072 1,301
Hello guys,

Sorry I am new in this forum but as I googled for Clenergen and saw this thread I just needed to register here.
So -
I also stumbled upon CRGE.OB some days ago and did a small research about the company. Saw that they have promoted themselves also before , but it has been mainly investor awareness stuff. I also found ( bought) an analysis report for some hundred bucks about the company and they say only good words

I uploaded it to MF:
http://www.mediafire.com/?4fbrwrzp3yozz6f

So I do not know, whether to consider it as another P&D or more as a long term hold. Anyway I bought some thousand shares - as it is really on his 52w low and think that I made it before their big advertisement campaign.
Of course they only say good things, that was probably written by the company or their stock promoters. Cant believe you actually paid for something like that, in fact I'm not sure I believe you. Can you tell us where you got it and why you are now giving it away for free?
 

zhjollis

Newbie
6 0
Sorry - I bought it from yahoo finance on august 2010. And I thought, that as I have it, why not to share it. I am not asking anybody to download it, just thought that I share it with you guys.

But generally pboyles - what is wrong with crge.ob? ( except for the spammers alarm flag you raised in your first post & that they are promoting themselves) I looked @ their financials and their plans and for me they look like a decent company. Or have I missed something important?
 

pboyles

Legendary member
8,072 1,301
They are OTC shares for a start, like Pink Sheets. Can I ask how you heard about the company?
 

zhjollis

Newbie
6 0
I was googling around and searching for something in the green energy sector - as I think it is hot now - and then found them - as I know, that biomass and solar might be two of the best performing sectors.
And I googled more and found them - and as I said - saw, that as they are (were, now up @ 0.51) trading on their 52wlow - and they had a solid business plan - then thought, why not to go with it. And I got some @ 0.42. But lately - yesterday and today I saw that have higher then expected volumes.

So I think - that yes. the have a potential to go up to 1.2 now...

**** - it sounds like I am selling here a company :)
 
Last edited:

pboyles

Legendary member
8,072 1,301
So here is a link to one of their filings on the EDGAR database, this is an SEC database that you can access for free

http://www.sec.gov/Archives/edgar/data/1342916/000114420410050183/v197103_10q.htm

...and here is an extract.


The accompanying financial statements are presented on a going concern basis. For the period of October 27, 2005 (date of inception) through July 31, 2010, the Company incurred an aggregate comprehensive loss of $19,117,185, inclusive of an aggregate net loss of $19,694,655, and had a total stockholders’ deficit of $1,640,356 at July 31, 2010. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These interim financial statements do not include any adjustments that might result from the outcome of this uncertainty.
 

zhjollis

Newbie
6 0
Are you a contrarian or is it that you do not like penny stocks?

I bought it - because in the last 4 months they added 50 MW into their pipeline and one of their plants in India has become operational.

I am also aware, that penny stocks are considered risky - but a stock like clenergen has good upside.
 

pboyles

Legendary member
8,072 1,301
Er.... they have lost $19 million since they started trading in 2005. Unless I'm missing something the only income they are showing is from the sale of shares. Unfortunately the good Doctor seems to have missed these facts in his report.
 

zhjollis

Newbie
6 0
Yes, that's true and I agree with you - But isn't that the case with all the smallcap stocks (or startup companies) - The all lose money until they get revenues underneath them. And they are developing new technology and investing in infrastructure. Isn't that true about all penny stocks?
 

vegas321

Newbie
1 0
Ahh what is up with crge today ? Volume is through the roof.. Can anyone comment ? Ideas ? Will it crash tomorrow ? Should I be getting the popcorn out ?
 

covarrubia

Newbie
6 0
What do you think about Clenergen

Ok, It's time to start with my career as a glorious investor :clap:

I think the green energy sector is quite hot and one company has caught my eye - Clenergen. I can see from the graphs, that It made a nice rise yesterday. I was wondering if you would suggest anyone invest in these stocks and if not, what would be your recommendation?

Thanks in advance
 

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