Speak of the devil, last Friday, Clean Energy Pathway(CPWY.PK) changed its ticker symbol to CPWY. For those of you who might wonder what company we are talking about, this is the descendant of Xcelplus Global Honding (PINK:XPGH). The transformation brought about an active trade with CPWY stock on Friday as 250 thousand shares changed hands and the price surged by 30%, closing at $0.18 per share.
This is the fifth name change of the company since inception eleven years ago. Yet, the company seems not to have achieved anything significant so far. Will it succeed in achieving a breakthrough this time? The frail financial state of the company might pose a number of challenges for its managers. After all, as of Sept. 30, 2010, they had:
Even though CPWY disposes of $1 million in cash, it is obviously not enough to compensate all the other liabilities. In addition, only 25% of the company's authorized stock has been issued so far. Therefore, managers have left a lot of room for possible dilution.
Nevertheless, the field of alternative fuel resources stands a very good chance of attracting more attention in the future. Should CPWY come up with a commercially viable solution, its stock might skyrocket and thus bring welfare to its devoted stockholders.
The company is obviously trying to make it in a high-potential field. However, it has a long way to go before facing investors and pleading for their trust.