China Crescent Ent. Inc (fka CCTR)

[wannabeeriche]

Philip M Verges' curriculum vitae on hudsonfulton.com

Q. How does a global company with over $100 million and 500 employees in six countries with customers across the globe disappear overnight?

“Before Mr. Verges founded Small Equity Initiative, he launched NewMarket Technology in 1997, which has grown into an international company focused on systems integration in emerging markets worldwide with over $100 million in annual revenue, over 500 employees in six countries and customers across the globe.”

http://enableipc.com/people/verges.htm

A. Owl said...
“I think the company is a scam. I posted the following on the Google forums about it:

"Since buying into this stock, I have done more research on CCTR. I have lost about $1700 on it in just a few days, and I'm getting out before I lose the rest. I recommend the same to others who have it.

Here is the fruit of my research:”

https://www.blogger.com/comment.g?blogID=6349558941123386955&postID=6094440806280698400&bpli=1&pli=1

Snippets of Owl’s research:

“China Crescent has apparently changed its name at least three times. First it was called Intercell Corp (back in 1994), then Intercell International, then NewMarket China, and finally China Crescent. They have traded under at least three different ticker symbols. Why would they do this? To confuse people? To prevent investors from noticing the stock's overall performance over its lifetime?”

“CCTR has complicated and confusing relationships with other companies. In some documents, it seems that Intercell International *was* China Crescent, but other times it sounds like Intercell *owned* China Crescent. Similarly with NewMarket Technologies. In any case, China Crescent, itself now apparently owned by NewMarket Technologies, owns a company called Clipper Technologies, which in turn owns 75% of Clipper Huali. Why a $1 million microcap company needs to be owning companies that own other companies, I don't know. But I take Warren Buffett's advice: don't invest in anything you don't understand.”

Finally, I have viewed the web sites for NewMarket Tech and China Crescent. They have slick audio-visual presentations in their investor relations sections. They have nothing on either web site devoted to trying to sell products. The web sites are about selling *stock*, not *products*. At best, their priorities are backwards; at worst, they don't sell products at all.”

“All of this adds up to a feeling that this company is trying to scam me. I might be wrong--if this company is legit, then it is going to make a fortune for its shareholders. But if it is as I fear, the stock is going to zero.”

September 14, 2009 at 12:52 PM

P.S. As an investor in NMKT/NWMT I wish I had seen this information.