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It was not an immediate carbon tax, it was a message to industry and the world that they decided that they will in fact set up a carbon tax, soon. How much, and the rules, have not been established, but it was also a political football tossed at the USA!
I see CGYV as a long term play, and the biggest risk being the SEC and their short-henchman audit mob closing down trading of all the China stocks here. They have already nearly wiped them out in value.
My main reason for having some faith in CGYV is the 5 million dollar personal guarantee the CEO used to borrow money to build the new plant in 2010. And then he followed up with a new big four auditor switch and got the financials in order after being 1.5 years behind in 2011.
I read that as saying that it was a consideration, not a definete. Could be wrong, I'll go back and try to re-read. Thanks.
This is probably the only one I am sure is not a scam. Is it undervalued, hard to say at this point.
Did you see the news about 1-2 weeks ago out of China?
They are going to add a carbon tax!!!! That could be a huge benefit to this outfit and their sales.
Setting it up to siphon off as much as possible through debt and give it to the major players before shutting the doors and saying "So Sorry" BK
Not one word of contracts, partnerships growing of the company. Anyone doubt that this has become a huge scam of large size?
It now appears that during the last four years they have continued to make the problem worse and now the builders are facing major debt loads. A default would be a major blow to the financial health of the country and it would be very devestating to all.
They are all risky there. I knew that going in, but I want out as quickly as possible.
Good luck to any and all who stay.
POP
They were pumping that news 4 years ago, predicted a total collapse in China, it never happened.
Owning these china stocks however, is a very high risk. I think politics and big boys are gaming it.
The wide-spreading news about China's empty cities being built only for speculation is unreal. Total areas built with no one able to afford to live in the apts and huge shopping malls built with no actual company to do business there.
Got to find a way out of all Chineese stocks, fast.
Well I have come to the conclusion that the $$$$$$$$ question is when will China Energy RECOVER, LOL!!!! or to ask when the Recovery will begin
Sometimes to helps when one is bleeding to death to laugh!!!!
At least this one is still fully reporting!!!
Appreciate the levity, thanks. I need it right now.
If it goes sub penny we could try a hostile take over? Just buy them out for some lunch money?
LOL
Hi Ecomike, It appears filings are fine, so far. Pot stirring only to the degree that I have hope/belief that the goverment may be forced to get back in bed with us. If that occurs then we will get back to the old days of having a back log and income.
The international pressure, and now the internal pressure, really should result in action in our favor.
Still waiting to see if they do anything positive with the cash they are borrowing to spur business.
GLTY
Did they stop filing and reporting? Or are we just string the pot here, LOL.
China announced earlier this week that they plan to introduce a carbon (CO2 emissions) tax. That is a great sign for the long term.
I wish I knew how to post a link to the article saying that China is admiting to the polution problem and that it is directly connected to cancer and the cancer villages they have established.
I know they don't give a rats backside about the people but now that it is world news I can only hope they return to support CGYV with gusto. The money CGYV just borrowed needs to be used to build the protections the people of China need and will be demanding.
The silience from this company is inexcusable and any measures that we stockholders can take to force them out into the open need to be taken. Punishment also needs to be metted out at all responsible to damaging this company.
Glad to see the report in Bloomberg that the Chinese Army is spying on us. They better keep an extra detail assigned to me if I am getting screwed by this company.
So much for asking IR--They do not exist in this country, at least I can not believe that with the horrible polution in China and the pressure from the international community that they are not availing themselves of services like these.
Just fools? Socialist idiots? No concern for life or well-being of their people? All of the above?
Sad. Very, very sad.
I'll try IR for an answer to be sure.
I would think it means a max of 20% above 6%, so take 1.20 times 6% to get 7.2% (6 + 1.2) interest rate.
But poor english is a problem with most of these stocks.
8k says new loan money interest to be 15-20% above PRC Bank of 6%. Are they saying 15-20% of 6% or are they adding 15-20% interest totaling 21% to 26% interest to be paid.
Horrible PR. Just horrible.
Too tied up to other stocks right now, otherwise I would love to jump in for more at these prices.
The news, I take it, indicates the first steps to a large project getting ready to begin. Would anyone agree? Backlog disappeared so new jobs are sorely needed.
It was impressive, most impressive! CGYV!
Now, THAT 90% feels GREAT. Let's do it again!
If we don't look after each other in these shark infested waters, who will? LOL
Here is a great place to follow the China stock sector, and to scan for the big news like that:
http://investorshub.advfn.com/China-Trading-Stocks-24341/
I still have shares in CGYV, but I got my cost out long ago. If they survive as US tradeable stock, and pay off some debt, and makes some money I will buy more one day. Just holding what I have an watching for now.
GLT you too!
Ecomike, Many thank yous for such gread DD. Makes me feel rather foolish, to say the least.
I was aware of last years fraud problems, but did not follow through as you have.
My best regards to you, sir. May the investment gods smile on you forever.
POP
http://www.sec.gov/news/press/2012/2012-249.htm?utm_source=Sinocism+Newsletter&utm_campaign=0a65f487e8-The_Sinocism_China_Newsletter_For_12_04_2012&utm_medium=email
http://chovanec.wordpress.com/2012/06/17/can-u-s-and-china-avert-accounting-armageddon/
http://www.chinaaccountingblog.com/weblog/beginning-of-the-end.html?utm_source=Sinocism+Newsletter&utm_campaign=0a65f487e8-The_Sinocism_China_Newsletter_For_12_04_2012&utm_medium=email
No Mike, I am not aware of any such problem. I am very skeptical of your evaluation of this dispute and how it would affect US companys of those stature.
BS bickering between the US and the PRC is not going to go away, but it will no way lead to the dire straights that you predict.
China MUST step up and show the world that it can be trusted but it will not do it just because the US is making auiiting threats from here.
You are aware that the SEC is in a battle with the top four auditors and about to make it impossible to certify any audits done in China? This could even kill GE and Apple, as they would not be able to certify their audits of assets in China? SEC is insisting on violating China secrecy laws they have known about for decades. IT is a very dangerous mess, that has gotten little news.
China has been haranged but much of it is self inflicted with the loose accounting and reporting. The shams were way too many.
Beyond that though, yes the US has been less than polite in the retoric aimed at PRC.
I can not blame them too much for the ill feelings towards us as we accept all their money to bail our butts out of debt. Time to end that, but how?
Killing the Golden Goose will not work.
I am more concerned about the SEC shoving the entire sector over a cliff with this audit the auditors nonsense. If I was China I was not trust the US SEC either, LOL.
Speaking only to the lack of news/information being put out.
The fear of them going belly-up is too tramatic for me to even consider--suicide season, ya know? LOL
POP
What makes you think they are not still in business?
Does anyone have a REAL contact person at the company? Would very much appreciete any info we could get just to know that they are still in business.
If they care this little about us, it may be time to take our marbles elsewhere. If only we could get a price to be able to sell at.
So. With a new leader in China calling for reforms in business and bringing in outside investors, will we be seeing a resurgance of our industry?
With Sandy as our back-drop I do believe we can see the Asian giant expanding polution control efforts which, of course,will benefit CGYV.
Down lots of bucks on this but still think it can be a winner for us.
osn is comming back, FYI
Not new to the US, it has been going on in the US since the 1970's big time. The major problem here is that few trust the China stocks. And so there is not enough demand to push prices up. When prices are not rising, they tend to fall. Also cheap natural gas and low inflation, and high interest rates in China, have cooled things off.
I started back in March/09 coming to the same conclusions.......Though the revenues have increased in the last four years, substantially in 2011,2012 from the years, 2008,2009,2010 they have not accrued to the stock price (shareholders).......Too bad, conceptually, it has a lot of promise. The idea of capturing emmissions from smokestacks and converting it to electricity......Wonder how that idea would fare in the U.S. ( Not while the "Pharoah" is in charge)...I would say LOL but ........I'll leave that to you
The PR goverment has obviouly killed this forward marching stock. I thought they were starting to get the message that it would be benefitial to reduce the pollution.
If, in the future, they wake up and see the ways that it will reap the rewards of good stewardship.
Good question, my answer is the >$1/share price was excess enthusiasm. I am holding shares of other China stocks that are selling for 5% of book value with a PE of 0.5 or less right now and little or no known debt, that are in the lithium ion battery business.
10Q out yesterday.....lower revenues than the first 2 qtrs this year reflecting the slowing economy in China the last two years( as well as the slowing press releases) At the beginning of 2011 we had a flood of PR's ....my recollection of those early 2011 PR's was the projection of 2011 total revenues would be 115 million (Actual 90 million ) Not bad considering 2008 (23.1); 2009 ( 22.1); 2010 21.0) .....so 90 (2011) was not 115 but,not bad.......In early 2011 they also projected 2012 would have between 200-250 million in revs.....I doubt that......9 months we have 76.4 in revs.........we probably will beat 2011's 90 million but not by much..........Having read all this how in the world can the stock price be down during the last 3 years from over $1.00 to .20 cents.............China is showing signs of turning its economy around at the end of 2012............BTW...if youreadthe 10Q they only have about 50million in back orders.......PRC owns about 80% of the factories in China; so a turn around in the eco is needed ..........Good luck to all with the coming years
Let's start with cash flow trouble. Then we could look at getting credit at 18%. No anouncements of new/profitable projects.
Last, but not least, the mention of the "Going concern" in the filings, if I am not mistaken. Correct me if I am wrong (it does happen).
Hurricane Sandy should be spurring a loud cry of demand to all goverments to improve globle warning problems. And here, with this company, in the reportedly worst offending country, they have a home-grown problem solver.
To any and all.......I just bought 4K of CGYV. Can anyone explain why IHUB has it listed on the "TRADES" page as a sell...........TIA
Living in a bit of a dream world right now, I guess. There was a vote of all the shareholders and the results were 100% in favor of the proposals. One of the problems I have with this is that I never recieved a notice of a proxy vote. Did anyone else? No? Hummmm?
New 8K filing shows a $5 million loan will become a $2 million loan with back interest at 18%. Those are worse than credit card rates.
Nice of them to at least admit to the SEC that they are unable to run a company. Sure not telling the stockholders anything directly. Guess, with this, we now know.
Guess I didn't really need those few thousands of dollars. Hope they enjoy them more than my grandkids would have.
Well keep in mind that they are not sell and building cells phones, but designing and build and installing complex one of a kind energy recovery systems for one of kind process plants. That process can take a year or more from start to finish on each project. And the profits are not realized until the job is completed and passes final inspections, and operation runs. Some can 18 months!!! So booking an order is 12-18 months ahead of booking profits in many cases. Meanwhile the interest and depreciation on the new plant eats into investor book value, or equity.
This is not one to make a quick buck on unless you know the nitty gritty of daily inside accounting. It may be one to buy the bottom on and wait 3-4 years for it to be rediscovered, and for steady profits to show a trend, and for the China stock fear to abate.
Thank you for your thoughts and input. It is not logical business to just close the door to investors and share no information on contracts or status of projects.
The loans do not appear to be death=defying, so the hope and wait will continue but not for years.
Good trading to you.
Wait for the bottom, may happen soon, buy like hell when it does. They need China to turn around, and enough business to pay their debt. They are struggling right now with high interest rate policies, central bank, and over expansion. It will come back and go back to $1, but it maybe a year or two.. before it does.
This company screams for a SEC investigation and class action investor law suit.
The total disregard this company has displayed toward the share holders is abhorant. To give us no news on sales or any facts is actionable to hold their feet to the fire.
Anyone have a positive thing to say here?
Lot's of jockying around with loans. No pr's. No trading. And NO BUYBACKS!!!!!!!!!!!!!!!
Interesting. Adding more debt but avoiding selling shares.
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Contact Information | China Energy Recovery, Inc. Company/Business Description |
China Energy Recovery, Inc.
| CER is an international leader in energy recovery systems, with a primary focus on the Chinese market. CER's technology captures industrial waste energy to produce low-cost electrical power, enabling industrial manufacturers to reduce their energy costs, shrink their emissions footprint, and generate sellable emissions credits. CER has deployed its systems throughout China and in such international markets as Egypt, Turkey, Korea, Vietnam and Malaysia. CER focuses on numerous industries in which a rapid payback on invested capital is achieved by its customers, including: chemical, petro-chemicals, refining (including Ethanol refining), coke processing, and the manufacture of paper, cement and steel. CER continues to invest in R&D and plans to build China's first state-of-the-art energy recovery system research and fabrication facility to allow it to meet the increased demand for its products and services. |
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The disclosures about our history reflect the Company's capital structure as of the time of the occurrences described and do not take into account subsequent stock splits or other adjustments to the Company's capital structure.
We incorporated in the State of Maryland in May 1998 under the name Majestic Financial, Ltd. From inception to March 31, 2002, we were a wholly-owned subsidiary of The Majestic Companies, Ltd. In March 2002, The Majestic Companies, Ltd.'s board of directors approved a plan to spin-off our company to an entity controlled by The Majestic Companies, Ltd.'s former chief executive officer and to The Majestic Companies, Ltd.'s stockholders.
In 2002, we conducted a 1-for-10 reverse stock split of our issued and outstanding capital stock pursuant to which each ten shares of our common stock issued and outstanding on the record date of August 31, 2002 was converted into one share of our common stock. We had 27,150,000 shares of common stock issued and outstanding immediately prior to the reverse stock split and 2,715,000 shares thereafter.
We changed our name to Commerce Development Corporation, Ltd. in April 2002.
On September 24, 2002, we acquired USM Financial Solutions, Inc. through a Capital Stock Exchange Agreement. Pursuant to the agreement, USM Financial Solutions became our wholly-owned subsidiary. USM Financial Solutions has no assets and liabilities and has had no business activities since December 31, 2002.
On April 7, 2006, we entered into an Agreement and Plan of Merger with a newly formed wholly-owned subsidiary, Commerce Development Corporation, Ltd., a Delaware corporation, for purposes of changing our state of incorporation from Maryland to Delaware. On the same day, we conducted a 2,184-to-1 reverse stock split of our issued and outstanding capital stock pursuant to which each 2,184 shares of our common stock issued and outstanding on the record date of April 5, 2006 was converted into one share of our common stock. We had 98,285,596 shares of common stock issued and outstanding immediately prior to the reverse stock split and 45,096 shares thereafter.
Effective June 5, 2007, we changed our name to MMA Media Inc. and conducted a 40-for-1 forward stock split of our issued and outstanding capital stock pursuant to which each one share of our common stock issued and outstanding on the record date of June 5, 2007 was split into 40 shares of our common stock. We had 1,348,050 shares of common stock issued and outstanding immediately prior to the forward stock split and 53,922,000 shares thereafter.
On August 14, 2007, we launched our website announcing our entry into a new line of business. We sought to capitalize on the explosive growth of mixed martial arts by creating what we believed to be the first comprehensive media company dedicated solely to the sport. We planned to distribute third party and proprietary mixed martial arts media content, goods and services through multiple media platforms such as the Internet, television and print. These media platforms were expected to be secured through acquisitions and strategic partnerships.
On January 24, 2008, we entered into a Share Exchange Agreement (the "Share Exchange Agreement") with Poise Profit International, Ltd. ("Poise Profit") and the shareholders of Poise Profit. Pursuant to the Share Exchange Agreement, we agreed to acquire 100% of the issued and outstanding shares of Poise Profit's common stock in exchange for the issuance of 41,514,179 shares of our common stock to the shareholders of Poise Profit. The share exchange (the "Share Exchange") transaction was consummated on April 15, 2008.
On January 25, 2008, we entered into and closed an Asset Purchase Agreement with MMA Acquisition Company, a Delaware corporation, pursuant to which we sold substantially all of our assets to MMA Acquisition Company in exchange for MMA Acquisition Company's assuming a substantial majority of our outstanding liabilities. The transferred assets consisted of letters of intent for the proposed acquisitions of MMAWeekly.com, dated June 9, 2007, and Blackbelt TV, Inc., dated July 16, 2007, and all shares of common stock in Blackbelt TV, Inc. we owned, among other things. The total book value of the assets acquired was approximately $317,000. The assumed liabilities consist of accounts payable, convertible debt, accrued expenses and shareholder advances of approximately $360,000.
Effective February 5, 2008, we changed our name to China Energy Recovery, Inc. and conducted a 1-for-9 reverse stock split of our issued and outstanding capital stock pursuant to which each nine shares of our common stock issued and outstanding on the record date of February 4, 2008 was converted into one share of our common stock. We had 85,067,000 shares of common stock issued and outstanding immediately prior to the reverse stock split and 9,451,889 shares thereafter.
On April 15, 2008, we closed the Share Exchange pursuant to which we acquired all of the issued and outstanding shares of Poise Profit's common stock in exchange for the issuance of 41,514,179 shares of our common stock to Poise Profit's stockholders. Upon the closing of the transaction, Poise Profit became our wholly-owned subsidiary.
On April 16, 2008, we conducted a 1-for-2 reverse stock split of our issued and outstanding capital stock pursuant to which each two shares of our common stock issued and outstanding on the record date of April 15, 2008 was converted into one share of our common stock. We had 50,966,068 shares of common stock issued and outstanding immediately prior to the reverse stock split and 25,483,034 shares thereafter.
From inception until 2000, we were engaged in the limited origination and servicing of new modular building leases. We conducted such activity primarily in the State of California and accounted for all the leases we entered into as operating leases. We ceased entering into new leases in 2000. Between 2000 and January 24, 2007, we were a development stage company in the business of providing business management and capital acquisition solutions. As a result of the closing of the Share Exchange on April 15, 2008, our new business operations consist of those of Poise Profit's Chinese subsidiary, HAIE Hi-tech Engineering (Hong Kong) Company, Limited ("Hi-tech"), which is principally engaged in designing, marketing, licensing, fabricating, implementing and servicing industrial energy recovery systems. Poise Profit was incorporated on November 23, 2007 under the laws of the British Virgin Islands. Hi-tech was incorporated under the laws of the Hong Kong Special Administration Region, China on January 4, 2002. Hi-tech carries out its operations mainly through Shanghai Hai Lu Kun Lun Hi-tech Engineering Co., Ltd. ("Shanghai Engineering") with which Hi-tech has a contractual relationship. This arrangement reflects Chinese limitations on foreign investments and ownership in Chinese businesses. Shanghai Engineering's manufacturing activities are carried out by Shanghai Si Fang Boiler Factory-Vessel Works Division ("Vessel Works Division") located in Shanghai, China through a lease agreement with Vessel Works Division's owner. We are headquartered in Shanghai, China.
The energy recovery systems that Hi-tech and Shanghai Engineering produce capture industrial waste energy for reuse in industrial processes or to produce electricity and thermal power, thereby allowing industrial manufacturers to reduce their energy costs, shrink their emissions and generate sellable emissions credits. Hi-tech and Shanghai Engineering have primarily sold energy recovery systems to chemical manufacturing plants to reduce their energy costs by increasing the efficiency of their manufacturing equipment. Hi-tech, through Shanghai Engineering, has installed more than 100 energy recovery systems throughout China and in a variety of international markets.
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