cwqbcwqb, could you explain the logic of your construction? Any pumping should have at least bit of logic...
Their total Assets equal to $ 56,902 (13,000 is cash)
Current debt is $ 11,500,000
Total deficit $ 21,000,000
As of September 30, 2012 and 2011, we had no customers. During the same periods of 2012 and 2011, we had no suppliers
Total shareholders defiency is $ -13,500,000.
That means even if he would be so stupid to buy assets worth of 56K for not 7 millions but 13 millions, shareholders will get a shit. He should buy it for over 13,5 millions, and then you can think about a chance.
They were used to have to business units
1) Kiwa Shandong - fertilizers - has no revenues
2) Kiwa Tijanjin - feed stock - had no revenues and was definitely closed down in summer 2012
Wen Li is sponsoring the working capital to Kiwa from his other but private companies. I doubt he wants to sponsor the shareholders.
So based on what does he want to buy something worth a shit for even a dollar? Nice dream :)
