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Although CTC Global has held itself out as having been in business since 2001 and as having made sales of ACCC spanning more than 10 years, a review of the public documents available shows that CTC Global has only been in existence since July 2011 and could not have sold or installed ACCC prior to that time. Meanwhile CTC Cable and Composite Technology Corporation are still in Bankruptcy.
A brief History of the "CTC'' companies and multiple bankruptcy filings is below.
- Composite Technology Corporation or "CTC'' was originally incorporated in the State of Florida under the name EL DORADO GOLD & EXPLORATION, INC. The name and residence of the company changed several times but will be referred to in this summary as "CTC''. The name of the company was subsequently changed from EL DORADO GOLD & EXPLORATION, INC. to ELDORADO FINANCIAL GROUP, INC. In March 2001 CTC (ELDORADO FINANCIAL GROUP, INC.) acquired TRANSMISSION TECHNOLOGY CORPORATION ("TTC''), incorporated in Nevada March, 2001 through an exchange of stock.
- In June 2001 CTC changed its state of incorporation from Florida to Nevada, by merging with a Nevada corporation of the same name.
- In November 2001 CTC (EL DORADO FINANCIAL GROUP) completed a reverse merger with TTC and changed its name to "COMPOSITE TECHNOLOGY CORPORATION'' or "CTC".
- In 2003, CTC formed a 100% subsidiary under the name of CTC Cable.
- In May 2005 CTC filed its first Bankruptcy Petition and thereafter began operating under the name of CTC Cable Corporation.
- In August 2009, the Bankruptcy Court issued CTC's Final Decree ending CTC's 1st Bankruptcy.
- In April 2011, CTC filed its 2nd Bankruptcy less than 18 months after concluding its 1st Bankruptcy.
- In July 2011 CTC Global was formed.
- In August 2011, Russian entities Kaskol and RU-COM jointly acquired Composite Technology Corp.'s assets out of its U.S. bankruptcy proceeding in a deal valued at more than $11 million, Dow Jones Daily Bankruptcy Review reported. The Russian companies' joint venture, called CTC Acquisition Corp., paid $1 million in cash and assumed the responsibility for at least $10.5 million of Composite Technology's liabilities, according to a purchase agreement filed with the U.S. Bankruptcy Court in Santa Ana., Calif.
- CTC Acquisition Corp subsequently changed its name to CTC Global
CTC Bankruptcy Filings