Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
China Forestry Inc., CHFY, changed to China Senior Living Industry International Holding Corporation, CHYL:
http://otce.finra.org/DLSymbolNameChanges
Just Wanted to say I finally bought some .07 6250shares Just Now.
Think This Will Be A good Pump.
Not yet either, been doing the same, keeping an eye on her for the last few weeks, might have to change that soon though...
Just sittin on the pine right now
Hey Ray...not in yet. I was watching the occasional whacks get absorbed by the bid-sitter at .006. Now it looks like someone's stepped in front of him. Not much here yet, but I do keep an eye on it.
What about you. You in?
U grab any shares here yet?
Yup. SS looks great. Spreads just have to narrow a bit for folks to get interested. If you see the ask come down a bit, it will be a good one to accumulate.
looks like the owners hold most the shares Float is petty slim Id say
This PR is for CNFI not CHFY.
("China Forestry", Pink Sheets: CNFI) formerly known as Phoenix Energy Resource Corp
According to the news today this company should be worth several times what it is trading.
Low Floater with cash in the bank......
I'd say this company is way undervalued.
NEWS...
Todays news looks pretty good for CHFY.
China Forestry Completes a Reverse Merger Transaction with Bingwu, One of China's Top Laminate Flooring ProvidersFont size: A | A | A8:00 AM ET 2/22/11 | PR Newswire
China Forestry Industry Group, Inc., ("China Forestry", Pink Sheets: CNFI) formerly known as Phoenix Energy Resource Corp, today announced that on November 1, 2010, it completed a reverse acquisition transaction with China Bingwu Forestry Group Limited ("Bingwu" or the "Company"), a Hong Kong company, to acquire 100% of Bingwu's issued and outstanding stock. As a result of the transaction, China Forestry has terminated its prior business and is now engaged through Bingwu's subsidiaries in China solely in the business of producing and selling floor materials and related products to residential and commercial customers in China. Bingwu's product lines include laminate flooring and industrial fiber boards. Through these subsidiaries, Bingwu sells flooring products under the "Silvan Touch" brand throughout China.
"We operate an environmentally sound and low carbon footprint business. Instead of reducing natural forests for wood, our flooring products use primarily by-products such as branches and other wood scraps for raw material," said Mr. Yulu Bai, CEO of the combined company. "We are pleased with this transaction as it provides us with an enhanced platform to execute on our growth strategy."
Bingwu also obtains material from approximately 2,250 hectares of its own rapid growth eucalyptus forest in China's Guizhou Province. The manufacturing facility in Qianxinan, Guizhou Province has annual production capacity of six million square meters of laminate flooring and 75,000 cubic meters of industrial fiber boards. The Company is currently constructing a new manufacturing facility that it expects will increase its overall capacity to 12 million square meters of laminate floor and 200,000 cubic meters of fiber boards. It expects to complete this new facility by mid-2012.
Bingwu markets its products at five branch offices and eight flagship stores, and through over 500 contracted flooring specialty retail stores that carry and sell its products. It also expects to enter into agreements with large home supply stores to market its products.
For the fiscal year ended December 31, 2009, the Company's revenues were $13.3 million. For the nine months ended September 30, 2010 revenues were $25.7 million, representing a 168.3% increase over the same period of 2009.
Summary of Bingwu's Financial Results for the First Nine Months of 2010
Revenues increased to $25.7 million for the nine months ended September 30, 2010 from $9.6 million in the same period in 2009, representing a 168% increase period-over-period.
Gross profit increased $6.5 million, or 309%, to $8.6 million in the nine months ended September 30, 2010 from $2.1 million in the same period in 2009.
For the nine months ended September 30, 2010, the Company generated net income of $7.2 million, an increase of $5.7 million, or 393%, from $1.5 million in the same period in 2009.
Financial Condition
As of September 30, 2010, the Company had cash and cash equivalents of $3.4 million, primarily consisting of cash on hand and demand deposits. To date, the Company has financed its operations primarily through cash flows from operations, augmented by short-term bank borrowings and equity contributions by its stockholders.
Net cash provided by operating activities was $4.4 million for the nine months ended September 30, 2010, as compared to $1.6 million used in operating activities for the same period in 2009. The increase in net cash provided in operating activities was primarily due to an increase in net income and a decrease in inventories due to our efforts to minimize our inventory balance. Net cash provided by operating activities was $2.2 million for the year ended December 31, 2009, as compared to $1.3 million for 2008.
About China Bingwu Forestry Group Limited
China Bingwu Forestry Group Limited, through its operating subsidiaries, Aosen Forestry and Silvan Flooring, is involved in producing and selling floor materials and related products to residential and commercial customers in China. The Company's product lines include laminate flooring and fiber floor boards which are manufactured in a variety of colors, dimensions and designs. The Company's manufacturing facility in Qianxinan, Guizhou Province has annual production capacity of six million square meters of laminate flooring and 75,000 cubic meters of industrial fiber boards. The Company is headquartered in Guiyang, Guizhou Province.
Safe Harbor Statement
Certain statements in this press release, including statements regarding our future prospects, future revenue, future demand for our products, and expansion plans may be forward-looking in nature or "forward-looking statements," as defined by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to vulnerability of our business to general economic downturn, operating in the People's Republic of China (PRC) generally and the potential for changes in the laws of the PRC that affect our operations, and other factors that may cause actual results to be materially different from those described in such forward-looking statements. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on Bingwu's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting Bingwu will be those anticipated by the Company. Bingwu undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
View data
Company contact:
Contact: Terry Li, VP of Investor Relations
Phone: +86 851-552-0951
Address: Jun Yue Hua Ting, Building A, 3rd Floor, Unit -1
#58 Xin Hua Road Guiyang, Guizhou Province 550002
People's Republic of China
Email: ir@aosenmy.com
Web site: http://www.chinaforestrygroup.com
Company contact: Contact: Terry Li, VP of Investor Relations Phone: +86 851-552-0951 Address: Jun Yue Hua Ting, Building A, 3rd Floor, Unit -1 #58 Xin Hua Road Guiyang, Guizhou Province 550002 People's Republic of China Email: ir@aosenmy.com Web site: http://www.chinaforestrygroup.com
SOURCE China Forestry Industry Group, Inc.
I thought so too Sports....buying/added and holding :)
jmo of course ;)
It's official HD news out-->China Forestry Inc. to Acquire Chinese Yew Plantation Company
HARBIN, China, Jun 17, 2010 (GlobeNewswire via COMTEX) -- China Forestry Inc. (OTCBB:CHFY), a timber investment group in the People's Republic of China, announced today that it has acquired all the equity interest of Hanzhong Hengtai Bio-Tech Limited ("Hengtai"), a China incorporation, by entering into a share exchange agreement dated June 10, 2010 with Financial International (Hong Kong) Holdings Company Limited, ("FIHK"); the shareholders of FIHK; as well as Hengtai.
Hengtai is a company organized under the laws of China and existed as a variable interest entity of FIHK, a company incorporated in Hong Kong. Hengtai is engaged in the business of Chinese Yew, Aesculus, Dove Tree and Dendrobium plantation. The breed of Chinese Yew and Dendrobium in the Company are endorsed by Ministry of Science & Technology of China under the China Spark Program. The paclitaxel extracted from yew is an anticancer medicine acknowledged in the world and it has obvious curative effect.
Under the terms of the share exchange agreement, CHFY will acquire 100% of all of the issued and outstanding share capital of FIHK from its shareholders in an exchange for 100,000,000 shares of newly issued common stock of the CHFY and a Convertible Note in the principal amount of $1.0 million, which note is convertible into 68,000,000 shares of common stock of CHFY. Pursuant to the Agreement, CHFY would acquire and operate FIHK and Hengtai as wholly-owned subsidiaries.
Mr. Yuan Tian, CEO of CHFY said, "This is an important step in our corporate developing, making Hengtai an integral part of our business strategy. Hengtai is a strong company with a promising future, and we believe this acquisition will enable our shareholders to realize significant value."
About China Forestry Inc.:
China Forestry Inc. (OTCBB:CHFY) is a timber investment group formed in the People's Republic of China to conform to State laws that prohibit non-PRC ownership of forest lands. The Company's strategy is to capitalize on the Chinese Government's decision to promote sustainable forest management through land tenure reforms that include the transferability of forest user right certificates to PRC entities. The Company's current holdings include ownership of four user right certificates representing 1,561 hectares of State forest assets in China's northeastern Heilongjiang Province, home to China's most valuable timber and one of the most distinctive temperate forests in the world due to its rare biodiversity. For more information, please visit the Company's website at: http://www.chinaforestryinc.com.
New 8-K released--looks like a merger taking place here-->http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7013233
Definitely seeing accumulation down here. Slipping under the radar right now.
wish i knew i was waiting to see some news and saw vol jump
wat happened here today
This is still sneaking under the radar. If we are expecting an investor update soon, that will all change. Buy when no one is watching!
CMF turning positive. Volume creeping in which is a great sign.
slight fall nothing major.. we need vol to truly see what people think about this pps
Looks like shorty stayed awy from CHFY yesterday. Looking forward to news and direction from company.
Get news and investor update and the recent shorts will factor into the move up when MM's cover.
That is for sure.
Need to flood the board this weekend to get us noticed on Monday
its coming slowly
Move them out of the way and let this baby run !!
Looks like yesterday MM's were shorting.
why do we have such a wide gap today between bid and ask.
Is someone dumping?
CHFY - Every share traded yesterday was a short share sold!
Short shares in bold!
20100218|CHFY|8988|8988|O
http://regsho.finra.org/FORFshvol20100218.txt
We need volume!!!
No sell volume yet. All 3550 of the volume has been buys.
lets get some vol going and see how this goes
Forest Investing - Timber as an Investment Class
Timber as an investment class features predictable biological growth. This asset class grows as the forest grows, and has produced strong historical returns of over 14% (as compared to 10.7% for the S&P 500) from 1973 to 2000. These returns can be enhanced by the development of non-forest products and services, such as recreation and hunting.
China’s 175 million hectares of forest and 12.5 billion cubic meters of forest stock rank as 5th and 6th respectively in the world. Generations of over exploitation, disease and fires have reduced its forest coverage to 18% of its land mass, ranking its 0.13 hectares of forest per capita at 134 globally, less than one-fourth the world average. The recent goal of China is to increase its forest coverage to 26% by 2050.
In an attempt to increase utilization of sustainable forest management practices, China has instituted major land ownership tenure reforms that now allow individuals land ownership rights as well as their ability to transfer these rights to other PRC entities.
Sustained economic growth, logging bans and other afforestation programs have made China the largest wood importer and consumer in the world.
China Forestry Inc. is a timber investment group established to capitalize on China’s demand for wood and urbanization by acquiring timber user right certificates to finance afforestation through sustainable forest management.