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WM....Wamu it's over short it unmerciful $6ish
MONEYMADE Talent on loan from God!
http://investorshub.advfn.com/boards/board.asp?board_id=293
ALERT: .0018 INBG has paid 10% cash ($150,000) to the Manufacturing firm they plan to acquire in full!! This represents 10% of the total acquistion of price of 1,500,000! I am buying here big time. We are golden
On April 16, 2008, the Company entered into a definitive agreement to acquire a 92% stake in Wuhan Wufeng Machinery Manufacturing Company, Ltd. ("Machinery Co.") from Wuhan Intepower Company, Ltd., a China Corporation ("Seller") pursuant to a Stock Sale and Purchase Agreement. After transferring a 4% stake to certain management personnel of the Machinery Co. at the closing of the transaction, the Company will own a net interest of 88% of the equity securities of the Machinery Company. The closing of this acquisition will occur as soon as the audit of the books and accounts of the Machinery Co. is completed to the satisfaction of the Company and requisite governmental approvals are obtained.
([PART 2 DONE! GOVT. HAS APPROVED THE SALE])http://biz.yahoo.com/bw/080709/20080709005206.html?.v=1
22
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INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)
Notes to the Condensed Consolidated Financial Statements March 31, 2008 and December 31, 2007
the audit of the books and accounts of the Machinery Co. is completed to the satisfaction of the Company and requisite governmental approvals are obtained.
The purchase consideration to be paid by the Company to the Seller will be approximately U.S. $1,500,000, consisting of cash for 10% of the purchase consideration payable by April 24, 2008, and three (3) Convertible Promissory Notes representing the balance of the purchase consideration, such notes being due and payable on June 30, September 30 and December 20, 2008. At the Seller's option the notes are convertible into shares of INBG common stock at a value equivalent to the notes. As of the filing of the filing of this report the 10% cash consideration was paid in full.
The Machinery Co. currently offers several lines of machineries and equipments which can be retooled to manufacture the panel production machineries that the Company endeavors to sell and utilize in several planned projects in China and other countries. The Machinery Co. currently has state of the art tools, experienced engineers, capability to design new lines of equipment, as well as strong customer service and after-sales support. Strategically, this acquisition will strongly support the Company's ability to supply the market for building panels and panel machineries in China and throughout the world.
MONEYMADE Talent on loan from God!
http://investorshub.advfn.com/boards/board.asp?board_id=293
$10.20 Now in Premarket...(Got just a few at the open! wow)
Would not short FRE just yet.
MONEYMADE Talent on loan from God!
http://investorshub.advfn.com/boards/board.asp?board_id=293
YES....M02,,,short squeeze of the century Weeeeeeeeee!
MONEYMADE Talent on loan from God!
http://investorshub.advfn.com/boards/board.asp?board_id=293
Senate passes mortgage rescue plan
Saturday July 12, 1:24 am ET
By Julie Hirschfeld Davis, Associated Press Writer
Mortgage rescue bill to help hundreds of thousands of homeowners avoid foreclosure passes Senate
WASHINGTON (AP) -- A mortgage rescue to help hundreds of thousands of struggling homeowners avoid foreclosure and get more affordable, safer loans passed the Senate overwhelmingly Friday, but it faces a bumpy road amid continuing turmoil in the housing market.
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The 63-5 vote reflected a keen interest by Democrats and Republicans to send election-year help to distressed homeowners with economic issues topping voters' concerns.
The plan lets homeowners buckling under mortgage payments they can't afford keep their homes and get more affordable mortgages backed by the Federal Housing Administration. Banks that agreed to take substantial losses on those distressed loans could avoid costly foreclosures and be assured of recovering at least some money.
The new program would let the FHA insure as much as $300 billion in new mortgages, helping an estimated 400,000 homeowners.
It still faces challenges, however, with the House planning to rewrite key details and the White House threatening a veto without major changes.
"It's not the final stop, but it is a major stop in getting this bill done," said Sen. Christopher Dodd, D-Conn., chairman of the Banking Committee. "For those who said this Congress cannot come together in a bipartisan fashion to do something responsible about housing, this bill does that."
Rep. Barney Frank, D-Mass., the Financial Services Committee chairman and an architect of the bill, says the few but significant revisions House leaders are seeking could be made in as little as one week.
Dodd said he was expecting minor "tweaks" that could be dealt with quickly.
But key players are bracing for intense negotiations to resolve the differences. They hope to smooth over disputes with the White House at the same time, with an eye toward producing a bill President Bush could sign later this month.
The White House Friday renewed its warning that Bush would veto the Senate-passed bill without revisions, citing $3.9 billion in the measure for buying and rehabilitating foreclosed properties it said would help lenders, not homeowners.
The measure includes a long-sought modernization of the FHA and would create a new regulator and tighter controls on Fannie Mae and Freddie Mac, the government-sponsored mortgage giants. It also would provide $14.5 billion in housing tax breaks, including a credit of up to $8,000 for first-time home buyers.
Democrats are divided over important elements of the plan, including limits on loans the FHA may insure and Fannie Mae and Freddie Mac may buy. The Senate measure sets them at $625,000, while House leaders -- including Speaker Nancy Pelosi, D-Calif. -- want the cap as high as $730,000.
House leaders also oppose the immediate effective date of the Senate plan, preferring to phase in the new regulations for Fannie Mae and Freddie Mac over six months.
"We'd have a hard time agreeing to that," Dodd told reporters Friday. He called a Capitol Hill news conference to dispel fears about the financial health of Fannie Mae and Freddie Mac as their stocks plummeted on reports that the government was considering taking over one or both of them.
Another key point of dispute is the funding in the Senate measure for buying and fixing foreclosed properties. The House's band of conservative "Blue Dog" Democrats oppose the money, arguing that it would swell the deficit unless paired with cuts or tax increases to cover the cost.
But many Democrats, particularly members of the Congressional Black Caucus, are fighting to keep the funding, which they say will help prevent the communities hardest hit by the housing crisis from sliding into blight.
"There are people who tell me to ignore" that threat, Frank said in a statement Friday. "But there is too much that is important in this bill, and it has already been too long delayed by procedural problems in the Senate, for us to risk the further delay involved in a veto."
He said he was working to find a way to shift the funds to a must-pass spending bill that would be approved before lawmakers scatter for the year in September.
Dana Perino, Bush's spokeswoman, said the money should be stripped out of the measure "so that they can get a housing bill to the president that he could sign right away."
Sen. Barack Obama, D-Ill., the presumptive presidential nominee, said Bush should drop his opposition to the housing plan and other Democratic efforts to ease economic pain.
"I call on the administration to support this bill along with a second emergency stimulus package to jumpstart the economy and build on this important start to advance more rigorous measures to protect homeowners from foreclosure," he said. Obama was on the campaign trail Friday and did not vote on the measure, which had been expected to pass by a wide margin. He was one of 32 senators not voting.
With the administration scrambling to tamp down on investor fears about Fannie Mae and Freddie Mac, Perino called the new regulations in the measure for the two mortgage giants its "most important feature."
Lawmakers and the Bush administration agree on the central concept behind the housing package: allowing the government to backstop new mortgages for struggling homeowners.
To make it more palatable to Republicans, the Senate measure would take responsibility for any losses away from taxpayers and instead cover them by diverting a newly created affordable housing fund drawn from Fannie Mae and Freddie Mac profits.
Fannie Mae and Freddie Mac..
are you putting short sell order?
We are golden: International Building Technologies Group, Inc.
I'm sitting on 8M shares of this and not going anywhere! In fact I'm adding here. http://www.ytwf.com/en/index.asp
(OTCBB:INBG) announced today that the China Government has granted approval for the Company to acquire 88% of China based Wuhan Wufeng Machinery Manufacturing Company (“Machinery Company”) with registered capital of RMB 26,420,000 (Approximately USD $3,850,000) for a fixed acquisition price of RMB 11,000,000 (Approximately USD $1,600,000).
On April 17, 2008, the Company signed a definitive agreement to purchase the Machinery Company located in Wuhan, Hubei Province of China. Since then, the Company has been waiting for approval from the China government and has been preparing for the audit process of the Machinery Company as scheduled in the definitive agreement.
Stated Ken Yeung, CEO of INBG, “We are very excited by the China Government’s approval. Today’s news brings us significantly closer to complete the acquisition of the Machinery Company. We have been working diligently over the past few months to prepare for the audit and will start the process shortly. The acquisition will be finalized upon completion of the audit in acceptance with SEC regulations. After which we can then retool the existing machineries and equipments so that they will be able to manufacture the panel machineries that INBG will utilize in its panel production factory projects, while the existing current revenue of the Wuhan Machinery Company can bring in a reasonable return for the Company.” The Company has also been working with local investors to set up a multi-million dollar panel production factory in earthquake devastated Sichuan Province to facilitate the rebuilding process. The plan to build a factory in this region has been discussed with the Sichuan Construction Bureau and has been met with great enthusiasm. “The Sichuan Construction Bureau has reviewed our products and plans for a factory and is eager for us to proceed. We have been working with several investors on this project and it is very promising. We are very optimistic and will keep shareholders and investors informed as new information becomes available,” stated Ken Yeung.
About the Machinery Company: The Machinery Factory manufactures machinery equipment and production lines for rice and grain processing as well as mineral refining and processing. It also provides turn-key services from designing to the assembly of equipments and production lines. It has been one of the key players in its respective industries for decades in China. For further information on the Machinery Company, please visit http://www.ytwf.com and www.intepower.com.
About International Building Technologies Group, Inc
International Building Technologies Group, Inc. and its wholly owned subsidiary, International Building Technologies, Inc., are currently transforming the combined business into a worldwide manufacturer and developer of light panel technology to be used for residential and commercial businesses, primarily in regions that are at risk of earthquakes and hurricane-like winds. For more information, visit www.ibtgi.com.
http://www.ibtgi.com/IBT%20Panel%20Technologies%20Presentation%20ppt.ppt#1
MONEYMADE Talent on loan from God!
http://investorshub.advfn.com/boards/board.asp?board_id=293
,,,,,,,What's on the menu next week!
MONEYMADE Talent on loan from God!
http://investorshub.advfn.com/boards/board.asp?board_id=293
'Death comes to all, but great achievements build a monument which shall endure until the sun grows cold'. Welcome my friends--MoneyMade
AI
