When it comes to over the counter (OTC) companies, there are a few different tiers that a company can be with regards to reporting and filing current information. While there are some that have a complete lack of transparency, there are others that strive to provide investors with up to date information by becoming a SEC reporting company.
Crosswind Renewable Energy Corp. dba Community Redevelopment (OTC-PNK:CWNR) announced that it filed Form 10 to become a Securities and Exchange Commission reporting company. While this doesn’t necessarily mean a fundamental change is occurring within the company, it gives investors some peace of mind since the company is basically lifting the curtain for the world to see.
Crosswind Renewable is a clean energy solutions company engages in the business of marketing renewable energy, sales and marketing of turbines, lighting and solar energy sources.
Traders seemed to be optimistic about the news as shares traded up to an early session high of $0.05/share (+19%) following the news. This is a strong continuation of the bullish momentum the stock has seen over the last month.