Clean Coal Technologies Inc (OTCMKTS:CCTC) was notable decliners during Wednesday’s trading session declining by 12% on heavy volumes, which were 5.5 times the daily average. The stock has been outperforming the broader markets over the last several months. Clean Coal Technologies has been forming higher tops and higher bottoms indicative of the strong bullish momentum. The stock has come under intense selling pressure over the last two and has plunged below its 50 day moving average. The oscillators, which measure momentum are clearly indicating that bears are in control at the momentum. Traders see the stock heading to levels of $0.560.
Clean Coal Technologies Inc (OTCMKTS:CCTC) announced that the famed lawyer and international businessman, Tom Shreve, was appointed to company’s board of directors. Clean Coal is known for offering services related to the conversion of raw coal into an efficient fuel.
Impacts Of This Decision
Mr. Thomas W. Shreve is one of the most sought after international lawyers and business persons in the nation. He first moved to Indonesia in 1991 and started working as the country representative of renowned law-firm Milbank. He has been working for the last 24 years in the country as one of the leading and well-appreciated business executive and transaction execution expert.
He was part of a couple of huge transactions, including the acquisition of Inter Milan Football Club by a group of businesspersons from Indonesia, and acquisition financing and sale of Berau Coal Energy. His important role and excellent execution of both the transactions intrigued Clean Coal to request him to be a part of company’s board of directors. Earlier, he also served Inter Milan Football Club as a non-executive director and Berau Coal Energy as an officer.
Mr. Shreve was delighted to announce this news and hoped that he would be able to add extra value to company’s decision-making procedure and take it to newer heights. While addressing to reporters, he said that in his opinion Pristine technology had great potential and could be implemented in East and South Asia with great commercial success. He further added that his objective would be to carry forward this initiative and turn it into a great success.
Coal-fired electric power generation can play a critical role in the improvement of living standards and reduction of poverty in Asian countries like India, China and different parts of South Asia. Mr. Shreve believes Clean Coal Technologies can play an important role in this revolution and help these countries improve living standards in the future.