I saw otc's reply to your inquiry-thanks for being

I saw otc's reply to your inquiry-thanks for being proactive-I learned requirements for ce removal by looking at thousands of penny stocks statements.

To remove ce have to supply ALL missing financials-i.e back to Sept 30, 2009 qtr---not just last qtr as some bashers indicate----you can see an example of this w SENY-they've been trying to uplist from their ce (otc wont even tell their lawyers why they received a ce) since ca Feb 2011 and still have months to go) and even if upgrade to current class my understandinfg is have to supply all of the missing quarterlies-thats what all the co's I've looked at have done-but financails dont have to be audited for current classification(pinks)

an initial co info statement which shows history of co back to its incorporation-which in CWRN's case is 1995-suppose to be detailed in this like a 10K-if not I guess otc can decide to allow only upgrade to limited info or no info but most of the time otc requires up grade to current info class once they slap the ce-this initial co info statement  is required whether upgrade to "current info"class  or whether uplist to OTCQB

an attorney letter certifying he has read the initial co info statement and met w accountants and or cfo and or auditor and board members and or officers and looked at financials.

not too many attorneys are quaified to do accounting verification and even fewer are SEC qualified-which they would have to be w an uplisting to OTCQB class on OTCBB-which CWRN's May 26 2011 PR indicated they would uplist to.

As indicated by posted emails etc Bob was going to file financials after 12-31-11 qtr-I dont know why havent been filed yet -but surmise either because some are asking for more time to buy cheap,or NDA w Bao-a lot of things suddenly changed in late Dec when Bao paid for 60k tons ore as per Bob that was either still at port (36k ton 3rd order) or being trucked(24k ton 4th order). I would guess that an NDA went into effect at that time-Chinese steelmakers are competitive in locating new sources of supply so Bao's purpose for secrecy until it determines what it wants (e.g beneficiation plant) or until Bao locks in a longtem contract or some other method of assuring a supply.

or because auditor marionthis says CWRN cant record payment for ore in Dec until buyer has physical possession of the ore-legally ore belongs to buyer and cwrn cant do anything w it except load it and have permits and other evidence taxes have been paid-

and Bob was expecting ship ca Mar 27 to pick up orders 3,4 and 5-so dont know why no ship yet-I've explained that Bao would probably be lining up bulk cargo to return from Asia to U.S. so ship doesnt travel one way empty handed-Bao would probably be either leasing a Panamax or using one they owned-Bob needs to update shareholders on shipping situation -but theres the possible roadblock of NDA again-ever since Dec info on shipping has been very limited (none in last PR)which indicated to me that issue was covered by an NDA.

I dont know what progress towards uplisting is-but believed due to Bobs emails to tlc2 and myself etc that the financials were audited-see former auditor marionthis posts-these co's really drag feet dealing w office work/updating and so I've pushed hard for financials-a lot of people are hurting because they bought on the 1-3c upswing in reliance on Bobs promises of a major move soon etc

so I hope Bob puts his nose to the grindstone and deals w the uplisting which most -unaware of all the requirements- expected a long time ago-circumstances re that may have changed due to Bao also-I dont know. 

As Sunnybanks pointed out again there are only a small number of brokers where you can buy cwrn unrestricted due to dtc trade for trade and otc's misapplied ce (based on a supposed promo when there was no promo-otc said they had no evidence of fraud)-see my 1-13,14,2011 and susbsequent posts when I spoke directly w otc re the ce.