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NITE is less aggresive, now lets see if we can close @ .05 or better.
Thanks. $$$$
Welcome aboard!!!!
Is awesome!
lolz, I love dee muneys!
Nice. $$$$
Sweet. Im in for some. $$$$
I am in!
We breed tortoises! Chinese market for tortoises is 100,000 tons annual!
http://www.eternaltechs.com/product_show.asp?ID=22&classid=2&sclassid=0
We are also having a meeting in L.A. in April.
Big dollar time!
Yes sir, loosing the Q
Interesting. Whats going on here. Looks like good news to me. $$$$
i have been in along time and have averaged down to a price still way above now---with the assets they have and maybe a new bod--like cnoa--this could be real ride, also for the older holders----it must be real nice for you new buyers--- look at what they have!
Lots of room to go 200DMA at .32
I did too!!! Looking very strong for double digit move here
agree, had a bid in earlier at .032 and it didn't show, sat for half an hour then filled
In due time my friend!
would be nice just to break .04! lol
Yes I am in, Double digits soon IMO!
did you get in yet?---these are the prices from last friday with a lot better climate than last week and it looks like they are going further north imo-- think where they will be if the mess gets ironed out----
Judgment Against Eternal Technologies Affirmed; Western Securities to Resubmit Settlement Proposal to Protect Shareholders
Last update: 6:29 p.m. EST Dec. 17, 2008
HOUSTON, TX, Dec 17, 2008 (MARKET WIRE via COMTEX) -- The Judgment against Eternal Technologies Group, Inc. was affirmed by the Fifth Circuit Court in favor of Western Securities. "This brings to an end the litigation," Western said, "which Eternal has promised to settle if they lost the appeal. We now feel we have an excellent opportunity to help Eternal as outlined in this press release."
"Western has from the beginning tried to seek an amicable resolution of all issues and is sorry for any misunderstandings that may have occurred through cultural and language differences. Over the past five years Western has submitted over numerous proposals to settle the litigation. These were apparently filtered and turned down by their counsel or just not even submitted at all to the Eternal Board of Directors, which appears to have been the case.
"We imagine it has been very difficult for ETLT management to be even aware of legal matters outside of China if not kept properly informed by their counsel. They have been kept in the dark and we wish to help clarify matters and settle in the most amicable fashion.
"In the spirit of fairness and to allow all shareholders of Eternal the chance to recoup some or all of the losses on their investments and profit from Eternal in the future, Western will be submitting an unfiltered settlement proposal directly to Chairman Wu and the Board of Directors of Eternal. Subject to payment of the judgment and court awarded legal fees, Western's settlement offer will provide:
1. General Release of any future litigation.
2. Agreement to petition the Special Receiver to reduce the fines and
costs for contempt.
3. Agreement for the removal of the "Q" on ETLT's symbol.
4. Agreement to request to the Special Receiver for release of all assets
under his control, including the return to Treasury of the newly
issued shares.
"We look forward to a positive response from Chairman Wu to settle this litigation that will allow Eternal to move forward with its business plan for the benefit of its shareholders."
Contact:
Western Securities Corporation
(504) 333-9098
MM Nite just seems to have endless shares
it looked like last fri was a good price and look now---who knows the bottom---to average down 1 or 2 cents isnt a big deal--if your first shares you are lucky any where down here imo
Could be the time now, on close watch!
I am almost ready to go in here!
The low, watching for support and buying action!
WP----what price are yoou looking for? thanks for moderating--its been a very quiet board--
2 x 10 Day Average volume, Bottomed???
Hey hotdog1012, whats your take on the TA of this chart now?
No postition, looking for a good entry!
8-K Dec 8, 2008
SECURITIES AND EXCHANGE COMMISSION
Washington D.C
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report L Date of earliest event reported: December 3, 2008
ETERNAL TECHNOLOGIES GROUP, INC
(Exact name of Registrant as specified in its charter)
0-27929
(Commission file number)
Nevada 62-16555
State or other jurisdiction of incorporation ) (I.R.S. Employer Identification Number)
Suite 2007, Main Block, JINZHONGHUAN COMMERCIAL TOWER
3037 TH JINTIAN ROAD, FUTIAN DISTRICT
SHENZHEN GUONGDONG PROVINCE, CHINA 518048
(Address of principal executive offices) (Zip code)
011-86-22-2721-7020
(Registrant’s telephone number, including area code)
________________________________________________
(Former name or address, if changed since last report)
Check the appropriate box below. If the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions. (see General Instruction A-2.below).
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14A-12)
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b).
Ite
--------------------------------------------------------------------------------
Item 8.01 OTHER EVENTS
The Company’s wholly-owed subsidiary, E-Sea Biomedical Engineering Co. International, Ltd (E-Sea) holds a license from Guangdong Province for the manufacturing of certain medical equipment. Under the terms of the license, E-Sea was required to commence manufacturing on or before December 31 2008, or the license would terminate.
E-Sea filed for an extension with the province which was denied. Therefore, the license with Guangdong Province for the manufacture of certain medical equipment will expire on December 31, 2008.
Because E-Sea still wishes to manufacture certain medical equipment, but after December 31, 2008, it has obtained a similar license from Hunan Province. To fulfill the terms of this license, E-Sea has agreed to develop an “International Medical Equipment Industrial Zone” in Zhuzhou, Hunan Province. Financing for the project has been arranged and E-Sea production department and research and development department will be moving to this new industrial zone in the near future.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
10.1 License Agreement from Hunan Province. (to be filed)
--------------------------------------------------------------------------------
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ETERNAL TECHNOLOGIES GROUP, INC.
December 8, 2008 / s/ Jiansheng Wei
Jiansheng Wei
President and Chief Executive Officer
support leijhjam's proposals and in general the help he is giving us all by emailing your support to annie at heron now--- EVERYONE------
james---if it still helps---i have 100000sh of etltq and am with you----------do you think sansar still is in or did they dump? after todays news it looks like they -the co.- are on the way out of town----------maybe an alliance with western is a possibility-----------thats if they have the reported assets..maybe aardvark of the old days could give his opinions on that. i post here but read raging bull and yahoo---very curious why aardvarks blog went dead did he give up...it has been a mess.
URGENT MATTERS
Fellow Shareholders
I am putting together a Shareholders action group who I plan to represent in direct discussions with ETLT management and also with their PR firm. I am thankful to all of you on this board if you wish to join with me. I have posted this message on yahoo and R Bull and have a significant number of shares whom I will represent going forward.
At this initial stage ,I need you to confirm to me [ assuming you wish to join this group ] your name and shares held in ETLT. That is all and that you support the idea of resolution of the Western Securities matter, compliance with US laws and filings and the open desire to fairly reflect shareholder value.
I am trying to secure a meeting with management in November and would like to assemble a long and accurate list of shareholders. I already have many names wishing to support this action. In any meetings I will need to be able to accurately identify who are the shareholders within this action group.
At a later stage, I plan to solicit from you your top three actionable priorities which you consider are the most pertinent points which need addressing.
I will need these for my upcoming meeting.
We need to start to build an open dialogue with China.
My e mail address is
jamesinhongkong@hotmail.com
I look forward to hearing from you ..many thanks
re Q
I don't know a thing about Q and pinks -- I just know collecting judgments in Texas. The guys running the bankruptcy proceeding are obviously trying to play chicken with the company's management in the American press. This is, from one point of view, hilarious: ETLT's management doesn't need to raise funds from the US, as it's drowning in cash; ETLT's management isn't looking to exit, as it expects to continue managing the company for some time and hasn't much concern about quarterly price fluctuations; ETLT's business is all in China, where US judgments aren't worth the paper they're printed on, and the US proceedings are of little consequence to ETLT's business partners in China.
ETLT will get the result of its appeal and either moot the bankruptcy proceeding, or realize it's got a genuine obligation and pay it. This dance in bankruptcy court during the pendency of the appeal is, as far as I can tell, a waste of resources for everyone involved -- unless they luck out and get Vanessa to sign a contempt order. She's signed stupid-as-he11 opinions before (e.g., on ERISA preemption) and I wouldn't necessarily bank on her to get anything right.
Take care,
--Tex.
how long can they carry Q before it is a pinky??
re Q
I disagree that the major concern should be the Q. I think the major concern should be long term, and that means solving the underlying suit rather than the Q. Spending money buying off creditors is less useful than proving their claims meritless, which will also have the effect of removing the Q (by mooting the creditors' claims that led to the bankruptcy proceeding).
ETLT has long traded with a P/B below 1. If you don't think your reward -- the company earnings per share -- is adequate even buying at a discount to book value, then you should find a company whose management produces a return you prefer.
For example, I like ACAS, which also trades below net assets and has a great dividend, to boot:
http://jadedconsumer.blogspot.com/2008/09/acas-like-bank-but-different.html
Take care,
--Tex.
This is the e mail that i sent to ETLT managment .i recomend you all to do same .
"
the Q sign that was added lately to the company symbol is a sign that indicates the company is in bankrupcy or under official receiver and causes share holders to sell and prevent new investors to buy even if that is not the case.
We, the share holders do not benefit from the extremly good foundementals.
Please act upon taking off the Q sign and immediately for the good of the share holders. also, to repair the trust of the investors that don't believe that the foundementals are real.I recomend to make buy back of the stocks and adopted cash dividend policy especially after the promise of spining of E-Sea to share holders that was not done.The fact that the company traded at 10% of the s/h equity and p/e under 1 is totaly a failur of the managment to give value to the s/h.
Please unswer
Please do something fast about that.
thank you
Hezi
"Shekef Invesments".
I will post it at another boards
re PR
The broken English on the site is really hilarious. Having done business with the Chinese in this community, I understand it's not an indication they're dense, it's an indication you can get along just fine in most of the world without much English. Still, it's jarring to experience in a serious business communication. I think this may be why some people suspect the business can't be serious.
Take care,
--Tex.
The most importent issue is the business !
"According to third quarter's result, the Company's operation performance is good and has increased than prior quarter"
Several legal consultants of the company are still dealing with the lawsuit which is still on appealing. We believe it can be solved properly. Please be patient and confident with the company.
(from the company pr)
re receiver during appeal
I am more than a little puzzled as to how a receiver could be appointed while the appeal remains outstanding. I suppose foreigners like me wont easily understand US laws in this regard.
I've actually collected judgments in Texas, so this one is up my alley.
Once a judgment has been entered, the party holding the judgment can enforce it. The only way to stay enforcement pending appeal is to post a bond in the amount of the judgment as surety against the risk the losing party will squander in litigation the money the trial court thought should be paid to the winner of the judgment.
Appeal bonds are not free; they cost money. Normally, a company operating in the U.S. doesn't want the disruption of a receiver seizing assets needed in the business, however, and posts bond. ETLT doesn't have any US operations, and doesn't have any US property, so ETLT has very little reason to fear collections efforts during the pendency of the appeal.
Since ETLT hasn't paid the judgment, and the judgment hasn't been stayed by an appeal bond, the judgment is payable immediately. Because ETLT has no US assets but has US debts, it easily meets the definition of insolvency under the Bankruptcy Code, so the bankruptcy proceeding is lawful. However, it's fruitless because there's nothing here to collect. Also, if the appeal of the judgment succeeds, the bankruptcy proceeding will become moot.
China hasn't got a treaty on cross-border recognition of judgments from the US, so collections in China isn't a risk, and impairment of operations isn't a risk. Suing ETLT in the US is frankly a fool's errand, unless ETLT has truly awful representation, because the US judgment is worthless in the jurisdiction containing all the assets against which one would want to collect.
Take care,
--Tex.
The last I heard, the underlying suit is still on appeal.
The only reason collections were undertaken is because no supersedeas bond was posted.
The reason no bond was posted is simple: why pay an insurance premium to prevent collections in the U.S., when the company's assets are all in China?
I think Western is digging a dry hole, hoping to gin up settlement interest by management by creating panic among investors about the shares.
If management isn't compensated on the basis of options, and isn't planning to cash out, it's unlikely to generate much leverage.
I'm interested in hearing the outcome of the appeal. My understanding is that the underlying suit was refiled repeatedly, which suggests someone was shopping for a friendly judge or the like. If the law doesn't back up the trial court's position, the judgment isn't safe on appeal.
Anyone have access to the pleadings, or can post info on exactly how this went down? It'd be nice to know more about the merits of the case, though there have been links posted on the history of Western and its principals to suggest they're scam artists suing on a contract for services they never performed.
Take care,
--Tex.
I am more than a little puzzled as to how a receiver could be appointed while the appeal remains outstanding. I suppose foreigners like me wont easily understand US laws in this regard.
ETLTQ: Filed New Form 10KSB/A, Annual Report
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5905490
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