Re the lack of official info from CWRN lately: Imo,as I've explained several times, its not a matter of CWRN trying to hide anything.
They are following legal advice to not rock the boat during this particular stage of negotiations w sec. Been over this before.
Shorters and a hedge fund w a large naked short position (7-10-11,rocket etc) fraudulently shouted promo Jan 2011 when there was none anywhere near that time to slap ce to block new investors- to slant buy sell ratio in their favor for profit. otc limits what companies can promo in PR's while under ce.
Similarly, sec would look askance at what is PR'd etc during critical negotiations-at least thats the theory their counsel is apparently operating on- and thats typical for attorneys-who would duct tape their client mouths if they could.
Much of what attorneys do is negotiate-contrary to popular opinion a large % of lawyers never even see the inside of a courtroom and they would crap their pants if they did. I've been in administrative proceedings where attorney generals were so nervous it was very obvious and their handshakes were clammy!
But almost 100% of attorneys negotiate on behalf of clients-almost any phone call with the opposite attorney can be a negotiation. If there is inequality among attorneys there isnt much negotiation.
But a superlawyer prides himself on his negotiation skills-he doesnt necessarily have a better record than other attorneys as far as getting his client free of ALL sanction -but what he does is negotiate a REDUCTION in sanction better than most. As I've said, as a former negotiator, the easiest way to kill a deal is thru leaks in the press.
So he instructs his clients not to say anything during such negotiations-at least during critical stages of such. That is apparently what is occurring, for as I reported weeks ago, Bob said,
'I can't say anything to anyone, which drives me nuts also.."
Bob has always been more forthcoming than most any other penny ceo- so when he is no longer saying anything re these things (prior to Sept 27) that is a confirmation that they've been silenced by counsel during a particular stage of negotiation.
I've also pointed out several times how its difficult to PR many things before they are finalized -because mr murphy does his thing and then if they PR something that doesnt come to pass the shorters and potboilers NEVER let us forget it- no matter how many times things are explained-because they arent interested in the truth -they are only interested in destruction for profit-even some longs dont understand.
So CWRN is being careful while there are so many things up in the air. There is one long that just cant remember these things no matter how many times I tell him (who doesnt post on this board) -I use to think 1-2 years ago "is he pulling my leg???" because he just couldnt internalize/remember anything I and other longs said -and eventually I just figured he had trouble w memory.
Eventually, depending on length of negotiations, the company will have to PR normal business operations like trucking and shipping.
But they dont control the entire steel market or the size of steelmakers inventories or steelmakers buying decisions etc- it always amazes me that stockholders in every penny stock (led by the shorters/potboilers) ignore that--
so CWRN has been at the mercy of an unexpected increase of supply this last summer. Which is probably why they have been focusing on processing over 200k tons of "waste" into fertilizer while steelmakers inventories decline -only to learn apparently that new govt rules on export require an iron exporters license for the fertilizer -in this case to the U.S, and since the U.S. hasnt been importing any iron from them they didnt have a license for export to the USA-murphys law again.
The email from Shirley to Rocket also confirms they are following professional advice.
