As far as delay in ce removal most of that is because of situations caused by those who profit from a pps fall. To uplist from a ce to OTCBB as cwrn intends-May 26,2011,takes these pennies ca 2 years.
Another junior that had already been higher classified than cwrn just got their ce removed and they had it for 1 month before cwrn.
cwrn was going to have audited financials by Apr 15 2011-Nov 2010 PR which talked about uplisting, but those who profit from a pps fall were being killed by rapid pps rise in Jan 2011 so they fraudulently shouted to non-reg for profit otc that there was a massive newsletter promotion-there was no newsletter promo- so otc due to conflict of interest did not investigate except to see pps was rising sharply many days running so they slapped ce as part of their policy to force companies to upgrade to current classification-they derive ca 40% of their revenues from company filings on otc -more filings,more revenue.
At that point no amount of financials will change class due to other otc hoops like initial co info statement,so cwrns sec adviser advised uplisting instead to OTCQB-May 26 2011 PR. I believe from publicly posted statements that financials were going to be filed after Dec 31 2011 qtr,but Bao then paid for ca 60 k tons of ore before even shipped and in return I believe Bao obtained an NDA- SOP-which prohibited notice of Bao's involvment plus an auditor of many years who posted here-marionthis-said cwrn could not record revenues for that 60 k tons until they were shipped-see his ca dec 21 posts.
43829 tons were shipped June 12 and Apr and June PR's let Bao out of the bag. the govt also instituted an unprecedented delay in shipping by companies who had shipped-requiring many audits even after the new permits were issued.
However many have postulated an entity like a hedge fund has a large naked short position in cwrn(finra short vol on cwrn was consistently 65-95% in fall of 2010) and allegedly uses sec and or other informants to aid them in covering their illegal shorting-see 7-10-11's posts etc. So cwrn was targeted for a sting operation -and entities here have admitted thats why they targeted cwrn. At the time of that would be promo cwrn had no operations or financing yet-so its dishonest to connect that cwrn's current operations. And so now -until a settlement is reached w the sec its pretty hard to uplist and be sec reporting-that settlement as per posts has been in the works since june. So thats a short history of logical reasons why financials have been delayed.
