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http://www.eternaltechs.com/news_show.asp?id=257&classid=1
Here is the news i whited for and i new it tomorrow ETLT start to go up again.
As i understand the appeal is the reason that they are not paying(that what the company said)
I agree that it is night in china, but these guys had all the daylights between Sept. 24 and the present to have dealt with the issue. So why the silence. It does raise questions.
With the cash and cash equivalents that they show on their balance sheet, I am surprised that they allowed this to happen. Could it be that currency restrictions prevented them from making the payment. It seems odd to say the least. I am unsure twhether the receiver would have any authority to act in china, but that may beside the point.
Now it is night at China ,tomorrow i believe that the company will do what they shuld do to solve this 732,000$ issue.Anyway i think that this is good point to average down and get back the loses.
http://pr-usa.net/index.php?option=com_content&task=view&id=134745&Itemid=34
Receiver Appointed in Turnover Order Against Eternal Technologies to Satisfy Judgment
The Bankruptcy Court for the Southern Districtof Texas has appointed a Receiver to collect and satisfy the final Judgmentand Writ of Execution in the amount of $732,290 plus legal and court fees against Eternal Technologies Group, Inc. The Turnover Order issued by United States District Judge Vanessa D. Gilmore on September 23, 2008, isto collect on the unsatisfied Judgment Western Securities Corporation hasagainst Eternal Technologies Group rendered in the U.S. District Court ofthe Southern District of Texas, Civil Action Number H-O5-02504 on October31, 2007.
Bankruptcy Proceedings.
This does not look good. why did they not just pay off this pesky little lawsuit.
"
"Receiver Appointed in Turnover Order Against Eternal Technologies to Satisfy Judgment
The Bankruptcy Court for the Southern Districtof Texas has appointed a Receiver to collect and satisfy the final Judgmentand Writ of Execution in the amount of $732,290 plus legal and court fees against Eternal Technologies Group, Inc. The Turnover Order issued by United States District Judge Vanessa D. Gilmore on September 23, 2008, isto collect on the unsatisfied Judgment Western Securities Corporation hasagainst Eternal Technologies Group rendered in the U.S. District Court ofthe Southern District of Texas, Civil Action Number H-O5-02504 on October31, 2007.
The Turnover Motion states that the Receiver shall have and exercise thefullest and broadest powers under the Rule, including but not limited to:
"Order the production before him of evidence, including documents, upon allmatters pertaining to Defendant's compliance with this Order; the assets,location of assets, value of assets and all other financial matterspertaining to Defendant."
Order that, "all third-parties in possession, or constructive possession,of assets, including but not limited to cash and funds on deposit,documentation, property or information regarding the Defendant, shallturnover or make available for turnover to the Receiver."
Order that Eternal Technologies Group, "immediately turnover to theReceiver within ten days from Defendant's receipt of a copy of this Orderany current and future proceeds, checks, cash, securities and sharecertificates. If the share certificates do not exist, Defendant is herebyordered to execute share certificates representing his interests and toturn the share certificates over to Receiver within ten days after receiptof a copy of this Order."
The Turnover Motion also stated that, "The Receiver is hereby authorizednecessary to gain access to all storage facilities, safety deposit boxes,real property, leased premises wherein any property of Defendant may besituated."
The powers of the Receiver include the right, authority and power to:
1. Collect all accounts receivable of Defendant;2. Change locks to all premises at which any property is situated;3. Open all mail directed to Defendant;4. Endorse and cash all checks and negotiable instruments payable to Defendant;5. Hire a real estate broker to sell any real property and mineral interest belonging to the Defendants;6. Hire any person or company to move and store the property of Defendant;7. Obtain from any financial institution, bank, credit union, or savings and loan any financial records belonging to or pertaining to the Defendant;8. Hire any person or company necessary to accomplish any right or power under this Order;9. Sell assets collected from the Defendants upon terms to be determined by the Receiver;10. Direct any Constable, Sheriff or authorized Peace Officer to seize and sell property under Writ of Execution. "
should see legit or scam very soon.
it could do well in pinky land ??
we'll see,
re ETLT legitimacy
I haven't heard anyone make a case that the published numbers aren't good, I've just heard people say they didn't know firsthand whether the numbers are legit.
What company have you got firsthand knowledge of?
The problem here is that ETLT's assets and operations are in China, and China doesn't have unrestricted currency exchange. Being solvent in China isn't the same as being solvent in the US. As for the litigation ... isn't that under appeal still? If so, why on Earth would ETLT pay it? The litigant would abscond with the money.
My own purchases of ETLT have mostly been before the recent price collapse. Unless my calculator is on the fritz, ETLT's cash, cash equivalents, and short-term investments come to over $0.70/sh.
What, if anything, do we know firsthand about the business or assets of GS or XOM? The problem here is that nobody knows these guys, and they've not marketed themselves so as to create any particular confidence in them. Heron isn't exactly giving these folks a high profile in the US.
Take care.
--Tex.
Glass is half full,
you gotta love the optimist!
#/s look great,what's your point?
and they looked good before?
and very very soon we be loaded, lol,,,,
How can it trade at m/k of 20 ?
I never saw so under valued stock like ETLT 24% from the s/h equity and p/e of 2.
and close to that OPAI
OT/It's cute,
Just another lack of trust kind of company! (.13)!
What's the story on the "Non-Reliance on Previous Financials, Audits or Interim Review, Financial Stat"??
ORIENT PAPER, INC.
BALANCE SHEETS
AS OF JUNE 30, 2008, AND DECEMBER 31, 2007
ASSETS
2008 2007
------------ ------------
(Unaudited) (Audited)
Current Assets:
Cash and cash equivalents $ 2,434,236 $ 622,661
Accounts receivable-
Trade 942,525 1,111,157
Other 1,535 2,249
Less - Allowance for doubtful accounts -- --
Inventories 2,736,524 400,689
Prepaid expenses 250,000 --
------------ ------------
Total current assets 6,364,820 2,136,756
------------ ------------
Property, Plant, and Equipment:
Building and improvements 9,822,777 9,230,313
Machinery and equipment 45,220,671 33,444,574
Vehicles 541,700 509,027
------------ ------------
55,585,148 43,183,914
Less - Accumulated depreciation and amortization (10,670,604) (8,590,382)
------------ ------------
Net property, plant, and equipment 44,914,544 34,593,532
------------ ------------
Total Assets $ 51,279,364 $ 36,730,288
============ ============
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Short-term loans payable $ 6,751,833 $ 6,039,145
Current portion of related party note 2,692,784 2,530,368
Accounts payable and accrued expenses 7,598,778 572,590
Income taxes payable 1,302,865 851,279
------------ ------------
Total current liabilities 18,346,260 9,993,382
------------ ------------
Long-Term Debt, less current portion:
Related party note 3,430,743 3,223,817
------------ ------------
Total liabilities 21,777,003 13,217,199
------------ ------------
Commitments and Contingencies
Stockholders' Equity:
Common stock, 500,000,000 shares authorized, $0.001
par value per share, 45,101,987 shares issued and
outstanding in 2008 and 2007, respectively 45,102 40,102
Additional paid-in capital 9,565,117 9,070,117
Statutory earnings reserve 1,153,628 1,153,628
Accumulated other comprehensive income 4,576,728 2,291,187
Retained earnings 14,161,786 10,958,055
------------ ------------
Total stockholders' equity 29,502,361 23,513,089
------------ ------------
Total Liabilities and Stockholders' Equity $ 51,279,364 $ 36,730,288
============ ============
The accompanying notes to financial statements are an integral part of these balance sheets.
F-2
Didn't mean to make it sound like MDF was the same animal.
Funny to see you still holdin from .30?? You sound like an investor,HA!! I gave that a try back in 2000. Had LSI @ $70, now is $6.Had QLGC @ $100-$130,now $18.Gave up that investor crap end of 2000-2001.Sounds like we should get out on the next spike here. But then you're an investor!! Thanks for the heads up here. Made me rethink my position. Bobwins likes EMHD @ .15,take a look?
Good luck,
Sasha
Sasha, Congrats on your gain on MDF. I'm still holding. I bought at .30 (not as cheap as your purchase but still not bad)
IMO Bobwins will not be interested with ETLT. I think Bobwins is aware of ETLT situation and I think he's highly questioned the legitimacy of ETLT. but I can ask him again to confirm.
in any case, MDF is not the same as ETLT. MDF was posting losses and almost have negative book value when the stock is at .17 and below.. then suddenly they became positive income and slowly book value become positive as they raise cash to pay the delinquent payroll taxes and start posting profit after they closed the clinical laboratoy and the pharmacy business (if you still remember)
on the other hand, ETLT has been profitable from many years ago and the stock price hasn't move as if the company doesn't really make that money. The fact that they don't pay/settle that small lawsuit (or as long as it's still in their back), making people suspicious that they don't really have the cash they claimed that they have. there are so many red flags and I've seen similar situation with ETLT with some other companies that ended up bad (drop to almost $0 as they stopped posting result to SEC), hence I gave my advice only bet on what you can afford to lose because there is a big chance that you will lost them all (and of course there is also a chance that it will go to $1 or $2). Also with the complication with CHCL link in the past (same executive with the other company who dissapear/stop reporting)
Only time will tell, though from the history, this could be a long time.. we could talk about the exact same thing 4 years from now...
many newbies doesn't understand that they have been doing this for the past 4 years and the stock hasn't really move.. and it just slide down after every good earning... you must wonder who are these people who are selling.. do they know better than us... maybe they do.. maybe they don't.. but are we willing to take a chance...
Thanks,
Stan
PS: the advice that I've been giving to people is everytime it rally after earning, sell, and then buy back 15-20% lower in the next ocuple weeks... the last couple quarters.. it seems to be working real well.. but sadly I don't follow my own advice because I am waiting/hoping for that $2+ someday...
Hello Stan,
See if you can talk to Bobwins about ETLT,see what he thinks? I see you play MDF! Bobwins got me in MDF years ago @ .17, I got out @ 2.45 to 2.94!! That was a fun ride. He found MDF when people said it was junk,and the IRS was after them. Thing got better fast! ETLT could get much better than .40,lets say $2.75?
Sasha, we'll find out. I hope we're right on this one.. I've been waiting for more than 3 years now..
as usual, my standard advice, just remember not to buy more than what you can afford to.
Have fun accumulating this stock..!
Stan
I think it is legit!
I'm buying more,hope to get bigger position that you when done,lol.
The stock has no love yet,hang in,love is coming.
Sasha
One day the longs will reword my gess is that will be buy out at price above the s/h equity
ETLT post great earning . 5 cents a share in Q2..
hope the stock will go up eventually...
still not sure if this thing is a fraud or not..
I put so much money into this stock and hoping we will score a home run with this one...
we'll find out tomorrow if no matter how good etlt post result the stock will stay the same..
It's down to a lack of trust.
The #'s are good enough for $2! Will we ever see that trust?
Note sure,what may be a foolish guess is yes.
I'm hanging around, I trusted, but only have one foot in the water.Not diving in till it hits $1.10+.We get trust, we get love! Love=$,
or goes to $0.. hard to believe that it will stay at the current price for many years.. but it has been doing just that for the last couple years.. so I guess never say never...
I'm long on this one..
One day ETLT will fly to the NAV value
any thoughts here
the NAV is over 1.60 yet it trades at less than 30% of NAV and cash backing is x2.
Madness ??????????????????
It's not funny,
but you did warn me it may go down! We may be stupid or trusting,kind of the same word?? Fishy it does smell. Then they are still printing shares on top of that. I do like playing Black Jack @ the casino, and the odds are about the same here(maybe). You just have a big chunk of change on the table here!! Good luck to us,better to be lucky that good.
Sasha
intact it may be worth more
but split it may be easier to argue for the value of the parts
My bigger concern is that without liquidity, it won't matter what the value assigned to the shares is, and to get liquidity we probably need the businesses together.
The idea of ETLT on the amex is interesting, I didn't think that was plausible, but if it is then all the better: being on a real exchange will certainly improve the opportunity to enter and leave positions, and will improve the profile of the stock. At the moment, I don't think anyone follows this one.
Also, as you say, folks doubt the reported financials. It might help to have detail by division, so folks know what the different parts of the company are doing, so they understand the business is legit.
Take care,
--Tex.
Tex, you bring up a good point about many things..
including the E-sea spinoff..
I hope they spin off E-sea, though I prefer for them to keep it intact so as they will have higher chance to go to amex later on as they get bigger.. and that is just to prove a fact that they can execute a business plan and that they are legit..
honestly speaking.. at this moment not many people believe that they are legit. and if they are not legit than nothing else matters.. and someday it will go bust once people find out if that is the case..
it is so hard to believe that they are real knowing that with very basic common sense.. with the current situation that etlt has, they should already be doing more stock buyback or paying dividend.. (provided they really do have the cash)
JMHO
Stan
any news on E-Sea spinoff?
I'd rather see E-Sea's success show up on the bottom line than end up with more often-hard-to-trade securities, but I'm not particularly married to particular ideas about how ETLT should create value from its assets.
I'd just like to see cash flow, and earnings. I'd think the turtle farms, fruit operations, and so on should be great businesses in a country with growing population and growing standards of living. And I read China may dump its 1-child policy, which would eventually drive up food consumption. Owning food-producing real estate (or having long term leases for it) should be a good position in that case.
Anyone have thoughts or information?
Take care,
--Tex.
yup, it could be nothing. if you never seen one before, you'll see what I mean in the future.. I hope won't happen to etlt.. but if it does.. you'll see...
still too many ask at .50s
stan
4 things I see from the chart:
1. bollingers are very tight right now.
2. Volume has been significantly higher and steadier during May.
3. The SMA 50 is rising up towards the SMA 200. It's got a ways to go, but they are converging.
4. Money Flow in is the highest it's been in past 3 mos.
could be nothing?
not much support on bid, but MM's are starting to stack up on ask @ 1.00 and more! A week ago only two,now six! Could be starting to cook up something?
Pete,
The market as a whole sucks!
Me thinks weak hands are folding in poor market.(not many)
Sasha
A recent post from Heron IR said that the book value of the ETLT stock is $1.53. See Raging Bull Message Board for proof of this fact. How then can ETLT, after making 4 cents, be selling at 47 cents???
Stan: Maybe you can explain this. I hope.....Peter
thanks nowayout.feel the same way with yo on etlt. not sure how long we have to wait. and either it will go to $0 (or 5-10 cents like cxti) or to $2 or more...
i do feel like they are printing shares but i'm willing to bear the risk to find out..
too bad that there is no action on the stock price after a nice 4 cents EPS in Q1
yes, all the best for us...
imo,if by the end of this year they still post good profit but the stock still stay at .50 while everyday volume is good (we got to wonder who is selling continuosly at .50).. maybe I/we need to sell some if not all...
Nice call on the 4 cents!
Too bad the company is printing shares??
I'm still holdin,but just don't get it.
I think we see a new high in the range of PE 10-15.
How long that will take,don't know, but it's on the way.
This is not a day watcher,more of a month watcher.
Easy to say hold on,but oh so hard to do.
Good luck to us,
earning is out. 4 cents. I'm happy. I'll read the details more after this
Stan
this q1 will be decent. I'm guessing 3 cents EPS, and if we're lucky they will post 4 cents per share.
how about you Sasha? what do you think or what is your expectation...
the tough part is that etlt has been cheap for so long.. no one know for sure if they will ever go up again to the previous 2 year high of .97..
Stan
in long term Stan,
What doya think the #'s will look like this Q??
Sasha
ETLT selling off its medical tech?
According to this post
http://www.stockpursuit.com/2008/04/eternal-technologies-etlt.html
... at least some of E-Sea's technology has been sold to a chinese company for payment in Chinese currency. Anyone know whether E-Sea/ETLT will still be able to market the technology? Is this kind of exit a potential alternative to a spinoff?
What other tech has E-Sea got left after these recent sales?
Take care,
--Tex.
One day you all will see the pps over 1 $ at one day trade!
Great Mango Harvest Expected in Hainan China
Monday April 7, 8:00 am ET
HOUSTON--(BUSINESS WIRE)--Eternal Technologies Group, Inc. (0TCBB:ETLT) today announced Eternal’s mango plantations in Hainan China are expected to produce record outputs this year as the mango harvest season draws near. Both Eternal’s main products, Golden Mango and Imperial Mango, appear to have a great harvest. Prices of mangos have gone up 30% compared to last year as demand outstrips supplies.
The company imported mango seeds from Australia and successfully cultivated the brand mangos in Hainan China. Imported breed mangos continue to fetch premium prices just as other imported fruits do. The company has planted up to several hundreds acres of mangos.
The company plans to test its biological fertilizing and pest control technologies after the harvest season to further increase outputs and quality of mangos. “Our goal is to produce the best quality organic mangos in our eco-friendly plantations,” said Wu Jijun, Chairman of Board.
About Eternal Technologies
Eternal is a major agricultural genetics and biopharmaceutical R&D firm operating in China with the support of the Chinese Government. Eternal's animal breeding division has a strong asset base, cash position and net income. Eternal has become one of China's leading institutions for biopharmaceutical and biotech research, pure breed cultivation and breed stock production. The Company has secured a key market niche by commercializing gene engineering technologies and providing superior breeding stock, allowing China's citizens the ability to improve their living standards. With the world's largest population, a double-digit national growth rate and entry into the WTO, Eternal Technologies has a playing field set for tremendous opportunity. As a prominent player in the agricultural genetics industry, cash in the bank and an untapped market, Eternal has the potential to become a major player in China's national growth.
For more information please visit website:
http://www.eternaltechs.com
Contact:
Heron public Relations Group Inc.
Annie Shi, 281-683-2395
info@heronpublic.com
Source: Eternal Technologies Group, Inc.
thought I'd post this here too (my thoughts on ETLT as a whole)
if you are also long, all the best for the bost of us.
----------------
nowayout, you are welcome.
just a warning though. PE has always been low (and book value has always been higher than the stock price) and it can get lower (stock can drift back to below to .40 the next couple weeks)
if you want to commit for long term , maybe that is fine, but if you just want quick gain, my suggestion will be book the gain if it goes up again in the next couple days.
JMHO..
Stan
PS: I'm in for the long term (130,000+ shares, to show that I am not trying to bash the stock) and have been holding (accumulating) for many years but many of ETLT investors are frustrated with the stock price performance the last couple quarters.
nice...yes, I found the news and posted a copy on this board for reference. Thanks.
hotdog, they posted .14 EPS last night for 2007 . that's the good news that propel the stock upwards today. (book value $1.4 per share and PE still under 4 even after the increase today)
Stan
dart.. glad to see etlt go up a lot today.. but still wonder why there is a wall or seemingly unlimited supply at .50...
until it crosses $1 , I will always wonder whether ETLT is just a fraud..
I'll let you know when I go to Williamsburg... will definitely try to visit you...
Why are you still doing stocks at 91.. hobby.. or necessary..
if etlt goes to 1 or 2 dollar, I'll take you to the Busch garden (jk)...
Good to see you still around though... It's been a while (years) since we started buying this stock..
As of now , I'm lock and loaded with etlt.. 130,000+ shares... Though I'm happy for teh rally today, I'm definitely not going to add anymore...
Stan
News needed posting here:
Eternal Technologies Group, Inc. Announces Year-End Results
Tuesday April 1, 5:18 pm ET
HOUSTON--(BUSINESS WIRE)--Eternal Technologies Group, Inc. (OTCBB:ETLT - News): 2007 Summary
Revenues increased 23.9%
Earnings increased 38.3%
Earnings per share increased 27.3%
Stockholders Equity increased 29.56% to $1.40 per share
Eternal Technologies Group, Inc. (OTCBB:ETLT - News) today reported record revenues and record earnings for the year-ended December 31, 2007. Revenues for the year-ended December 31, 2007 increased by $6,872,615 or 23.9% to $35,590,718 from $28,718,103 for the year-ended December 31, 2006. Cost of sales for the year-ended December 1, 2007 increased by 5,157,066 or 27.2% to $24,143,968 from $18,986,902 for the year-ended December 31, 2006. As a result our gross profit increased by $1,715,549 to $11,446,750 for the year-ended December 31, 2007 from $9,731,201 for the year-ended December 31, 2006.
Operating expenses including depreciation, research and development expense, increased by $1,427,646 or 30.2% to 6,161,083 for the year-ended December 31, 2007 from $4,733,437 for the year-ended December 31, 2006. Other income increased by $1,627,839 to $2,067,535 for the year-ended December 31, 2007 from $439,696 for the prior year.
Income tax expenses increased by $46,053 to $601,845 for the year-ended December 31, 2007 from $555,792 for the prior year.
As a result of the foregoing, the Company’s earnings increased by $1,869,689 or 38.3% to $6,751,357 for the current year from $4,881,668 for the prior year. Per share earnings increased $.03 per share or 27.3% to $.14 per share for the year-ended December 31, 2007 from $.11 for the year-ended December 31, 2006.
For the year-ended December 31, 2007 total stockholders equity increased by 16,616,139 or 29.56% to 72,822,262 from $56,206,123 as of December 31, 2006. Book Value per share as of December 31, 2007 was approximately $1.40 per share ($1.397).
For 2008, the Company anticipates additional earning growth as the 2007 acquisition begins to contribute to the Company’s earnings.
nice day today...something is making this move.
While this is high volume, it's not nearly as much as we've seen other days.
I'm hoping that it might be reminiscent of last October, when similar volume led to a move from 0.64 to 0.95
Anyone know why things are moving? TIA...
I think ETLT will go up soon as it post great Q4 and year 2007 result
hope the stock will go up...
I'm curious why you think it will drop to 15-20 cents..
TIA
Stan
Could hit 15-20c
http://finance.yahoo.com/q/bc?s=ETLT.OB&t=5y&l=off&z=l&q=c&c=
re book value
Considering that cash is valued at the official rates, and the Renminbi appears to be considered 30% undervalued at official rates, the upside looks better than that, even. The question is, what will ETLT have to do to make it clear to investors the true state of its business? Until the news is out, the discount to book is a fact of life. When will ETLT be in a position to fix this?
I think ETLT needs the advice of someone like CDS, which has experience helping Chinese companies make their case to US investors. Current PR folks seem utterly worthless.
Take care,
--Tex.
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