Yeah, like maybe the Principals will pony up and pay their debts, or are those guys still waiting on someone else to pay their debts for them. If management believed this, really believed it, they would pay their debts.
If management really believe this was as real and as lucrative as they would have YOU believe, they would not be as tragically delinquent as they are in the Company's horrific and personally tragic debt resolution. Their debts carry with them matters of personal consequence to individuals. These are not vague unknown consequences of THEIR unpaid debts but rather issues with which they are fully acquainted and readily able to ignore while they fluff up Press Releases.
It is really hard to take these guys seriously with the horrific damage done by their promises and unpaid debts ... and Corporate Promissory Notes to themselves growing daily on top of shares diluted roughly one hundred percent in a year to get to this ONE POINT.
Believe me, shareholders have paid dearly for this sad little announcement.
"We believe we have a first mover advantage in deregulation opportunities in China, where the Internet and media distribution markets are now the fastest growing in the world."
If these guys are FIRST MOVERS in DEREGULATION OPPORTUNITIES -- which itself is most likely intentionally vague and very poorly conceived, then they need to learn to count.
The media market in China is seriously saturated already with companies that are traded on the Nasdaq here in the United States and well established inside China with the established China Media distribution contacts and preferences that will be extremely hard for CHWM to establish.
Who do these guys know in China? So far, it looks like no one.
If they execute on this deal like they have executed on Wi-MAX you will have a long, long wait. Don't hold your breath. This looks like an excellent exit point.
If you really believe they can pull this off, sell now and buy back it at $0.04.
