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Micro-Cap on Watch; Cleantech Transit Inc. (CLNO)

By Warren Paige

Cleantech Transit Inc. (OTC: CLNO), a company focused on investing directly in projects that maximize shareholder value, has seen a sharp decline in its shares in trading today.

CLNO shares are currently trading 44.19% lower at $0.0480 on above average volume of 2.69 million.

Cleantech shares are sinking today even as the company announced last Friday that it received a Letter of Intent (LOI) from a UN sponsored Intergovernmental agency to implement and operate biomass power plants. This is a significant development for CLNO as the company recently said that it will focus solely on biomass power generation.

As per the LOI, the Intergovernmental agency would facilitate the formation of a public private partnership (PPP) with CLNO to develop, implement and operate up to 47 biomass power plants. The plants will be deployed in the agency’s member states. CLNO said that the agency represents 28 member states.

 

June 11th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.