Clear-Lite Holdings – Appears to be Sinking

It’s being reported that Clear-Lite Holdings, Inc (NASDAQ OTCBB: CLRH.OB) is experiencing slumping sales and that the company is now going through liquid assets to survive. Are they on the way out or is there a penny stocks play here?

As of this writing, Clear-Lite Holdings closed at .76 per share (down 14.61% on the day), which is near their .71 per share 52-week low and a ways off from their $2.07 52-week high.

They continue to sink amid a volume of 2,493,825.

However, a few days ago it was announced that they signed a mutli-year, multi-million dollar Logistics Agreement with InStore Products Limited of Ontario.

Here’s the Yahoo! finance chart and information for this penny stock:

http://finance.yahoo.com/q?s=clrh.ob