Sly I don't know why you invest in such companies that don't follow rules or bends the rules like they do. They are just prolonging the whole bankrubtsy chapter 11 thing and I know your playing this thing both ways and shorting this to minimise your risk but realy how many everyday investor can do that that don't just keep averaging down untill they have nothing, zip in the end.
What took place here is not uncommon in markets like this.
The company took a big chance and borrowed insiders shares to raise more capital that became a debt to the company. To pay that debt they used part of proceeds that they recieved from depreciation from the strike price they borrowed the shares at to what they sold the shares at taking a 50% tax gain and used that money to underwrite more new shares. Now any new stock issued can be sold for less then the original issued price taking advantage again of the depreciation from the original issued price and the depreciated price but the loss ends up again being this time unsecured debt or other debt if you like owed to shareholders and a lot of time pention funds if the pention fund bought those shares or maybe a subsiduary company bought them to take advantge of the defered tax to sell later as merged entities.
Anyhow not the borrowing of shares but having a subsiduary buying stock without filing even thos the stock is not registered and not part of the float it is still part of the outstanding shares so in part changes the market cap of the stock as well as the debt on the balance sheet. This is becomes a problem down the road in a restructuring process as well as comming out of a restructuring process were the debt is often eliminated " marked to market" and shelfed as often noted on the balance sheet under the liability section.
They will get a fine and a reavaluation of what tax's are owed and one can only hope they have there new wireless speakers sterio equipment on venders shelf to aford the fines and tax's that will have to be paid in too the future.
B.S. goes a longway in getting what one wants in the price of a stock. Tell someone not to buy and they will buy if they think your B Sing them. Yes if you do apply what they are saying then yes you will come up with your own conclution and it will be your own not someone elses.
Not me that is asking this time around. Let someone else do the dirty work who ever that would be.
Wow what a crazy spread in the bid and ask. Three years and no fillings never made a profit after depreciation was accounted for but one never knows with spreads like that things could still be a float. It is the no volume that has one wondering if they need money at all.
Then most of these high capital cost projects do or else this thing would be getting the asking price of $.01 share.
yea, this company is not clean, they are always doing something shady...imo
They switched auditors June 14th, I believe. It was just before their hearing, might have been the day before their delayed hearing date, irregardless, they do have an auditor. Since the de-listing makes them forever investor leary, they need another tactic to get interest. Showing investors that a real place exists is of some help.
Why dont they open their Books to Auditors?
I think that would be of greater importance to investors than some nickle tour.
NIVS Offers Facility Tour to Interested ShareholdersWed Jul 20, 2011 8:00am EDT
NIVS Offers Facility Tour to Interested Shareholders
HUIZHOU, China, July 20, 2011
HUIZHOU, China, July 20, 2011 /PRNewswire-Asia-FirstCall/ -- NIVS IntelliMedia Technology Group, Inc., ("NIVS" or the "Company")(OTC Pink: NIVS), a consumer electronics company that designs, manufactures and sells intelligent audio and visual products, today announced the launching of a web page where interested parties may book tours of the Company's manufacturing facility in Huizhou City, Guangdong, China.
Interested parties may access the webpage via http://tour.nivsgroup.com/ly.php.
About NIVS IntelliMedia Technology Group, Inc.
NIVS IntelliMedia Technology Group is an integrated consumer electronics company that designs, manufactures, markets and sells intelligent audio and video products in China, Greater Asia, Europe, and North America. The NIVS brand has received "Most Popular Brand" distinction in China's acoustic industry for three consecutive years, among numerous other awards. NIVS has developed leading Chinese speech interactive technology, which forms a foundation for the Company's intelligent audio and visual systems, including digital audio, LCD televisions, digital video broadcasting ("DVB") set-top boxes, peripherals and more.
2009 Q1 Q2 Q3 Q4
0.09$ 0.11$ 0.14$ 0.25$
2010 Q1 Q2 Q3
0.13$ 0.14$ 0.12$
If I take the same number for Q4 as in 2009, EPS in 2010 was 0.64$. The historic growth rate was
2006 0.19$ 171.4%
2007 0.31$ 63.2%
2008 0.41$ 32.3%
2009 0.59$ 43.9%
2010 0.64$ 8.5%
*** 2011 0.69$
If I assume the 8% growth for 2011 EPS 2011 would be 0.69$.
On June 12, 2011, the special committee of the Board of Directors of NIVS IntelliMedia Technology Group, Inc. (the “Company”), established on March 28, 2011 to investigate certain allegations of the Company’s former independent auditors (the “Special Committee”), made certain interim remedial recommendations to the Company, including: the suspension of two employees; the engagement of an outside accounting firm to perform the Company’s accounting functions; and the consolidation of the Company’s cash in fewer bank accounts, and on June 15, 2011, the Board of Directors formally approved the Special Committee’s recommendations.
The Company is in the process of engaging an outside consulting firm and consolidating the Company’s bank accounts.
Appointment of Directors
Ms. Wang, age 36, was appointed to serve as the Company’s Director on July 14, 2011, and has served, since November 2009, as an IPO Project Manager for Taifook Investment Consultancy Co. Ltd., a securities investment consultancy company. Prior to that, Ms. Wang served, from May 2008 to November 2009, as a Financial Manager for Data Fault Tolerance System CO., LTD., a high-end storage system provider company, and from November 2004 to May 2008 as a Financial Manager for ITT Company, the world's largest connectors manufacturer. Ms. Wang holds a Bachelor’s Degree in Finance from Liaoning University with extensive experience on U.S. GAAP reporting.
Mr. Ning, age 47, was appointed to serve as the Company’s Director on July 14, 2011, and has served, since 2006, as a professor in the Department of Management Science at the Fudan University School of Management. Prior to that, Mr. Zhong served from September, 1998 to December, 2001, in various executive capacities, including as general manager of the auditing and supervision department of Wuhan East Lake High Technology Group Co., Ltd., and as president of the joint-venture company, Wuhan Jianmin Depeng Pharmaceutical Co., Ltd. Mr. Ning currently serves as a council member of the Research Institute of China Development and Economy and as a member of the International Systematic Dynamics Institute. He also serves as an independent director of Anhui Quanyin Gaoke Seed Industry Co., Ltd. and is the chief counselor and chief strategic scientist of Guang Zhou Lighton Electronic Technology Co., Ltd. Mr. Ning holds a Doctorate in Economics from Wuhan University, and a post-Doctorate in management science and engineering from Fudan University .
The Board of Directors also appointed existing independent director, Mr. Minghui Zhang, to serve as a member of the Special Committee. The Special Committee intends to engage new counsel and forensic auditors to continue its work.
stock buy back would sure help this get back to pre-delisting price..
Shipments of Chinese-made "white-box" tablets, typically featuring processors from Qualcomm (QCOM), Nvidia (NVDA), or VIA Technologies are expected to hit 8M this year. The tablets often sell for less than $250, and tend to run either Google's (GOOG) Android or Microsoft's (MSFT) Windows 7, if not both.
Today's article in China Business News: China’s mobile phone users continue to rise
Posted: China’s mobile phone users continue to rise
China’s total number of mobile phone users continued to rise in the first five months this year, led by a surge in the number of 3G subscribers, according to official data released Friday.
From January to May, China’s total mobile phone subscribers increased by 51.1 million, more than half of which came from 3G users, to 910.1 million, said the Ministry of Industry and Information Technology (MIIT) in a statement on its website.
The number of 3G subscribers jumped by 57 percent to 73.8 million in the first five months, said the MIIT.
The increases in mobile subscribers came alongside a slight decline in fixed-line subscribers which fell by 3.7 million to 290.7 million.
During the first five months, the combined revenues of mobile telecom service providers was 277 billion yuan ($42.8 billion), a year-on-year increase of 13.6 percent, accounting for 71 percent of the telecom sector’s overall revenues, compared with about 68.4 percent for the same period last year, the MIIT said.
China’s Internet users were shifting from dial-up to broadband. From January to May, broadband subscribers grew by nearly 10 percent to 138.5 million, while dial-up users decreased by 129,000 to 5.77 million, according to the statement. – Xinhua
This should trade $1+
Let's hope it makes that bounce above $.40 a keeper
To be exact- I assumed a bottom price of around 20 cents-see post 146. The Barrons article link about his sister's lighting company is not opening correctly. If you have Barron's subscription you might be able to read it, otherwise I can post the article itself after Barron's straightens out my account activation, seems it wants me to pay 2nd time. In a nutshell, the re-start of these Chinese companies had been coming back into trading at about 10% last asking price before suspension. Last ask of NIVS had been over $2.00. Hopefully, now that NIVS has been noticed back on-line, the shorters have finished knocking it down. Wed is Greece signing day, July is historically bull market, and NIVS, HAS to file it's (true) financials to make it to the pink sheets. Then the true P/E will show, and be re-analyzed for target price.
How did you predict it's trading range, John?
NIVS PRC was ranked 43rd among Forbes’ Top 100 Chinese Research and Development Companies.
NIVS PRC received the “Famous Brand in Guangdong” award in 2007.
In October 2006, NIVS PRC obtained ISO14000 environmental management system accreditation.
In October 2006, NIVS PRC began working with the Institute of Automation, Chinese Academy of Sciences (IACAS), an organization that specializes in the research and development of smart robot and speech interactive technology, to better understand and develop speech interaction technology.
In December 2005, NIVS PRC obtained certification for compliance with the Directive on the Restriction of the Use of Certain Hazardous Substances in Electrical and Electronic Equipment (RoHS).
Beginning in 2005, NIVS PRC’s brand received the “Most Popular Brand” award in the acoustics industry for three successive years.
On October 31, 2003, HIVS Holding Company Limited was incorporated in the British Virgin Islands.
In June 2003, NIVS PRC’s was honored by the Science and Technology Bureau of Guangdong Province as a “Private High-tech Enterprise” and “High-tech Enterprise,” which is an honor reserved for private enterprises developing new high-technology.
NIVS PRC established its modernized speech technology lab in 2002.
In July 2001, NIVS PRC obtained ISO9001:2000 quality system accreditation.
On March 18, 1998, NIVS PRC was established in the People’s Republic of China.
COMPANY NEWS 3 JUNE 11
The deputy team leader headed the propaganda leading team of the \\\\
Data:03/06/2011 Font:[Big Small ] Return
NIVS was named one of the “Ten Excellent Social Welfare Undertakings Enterprises of the Brilliant Monument”
April 23, 2011, the deputy team leader Mr. Yunlong Zhou and the secretary-general Mr. Hongde Duan headed the propaganda leading team of the “Brilliant Monument” activity for the 90th anniversary of CPC came to Shenzhen and Huizhou, and visited NIVS’s Shenzhen operating center and NIVS’s industrial base in Huizhou. The Chairman Mr. Tianfu Li accompanied with the team and made the introduction during the whole visit.
Mr. Zhou and Mr. Duan expressed strong interest in NIVS’s mobile phone and integrated computer production, and praised highly NIVS’s overall scale and modern management.
Assessed by experts, NIVS Group was honored as one of the “Ten Excellent Social Welfare Undertakings Enterprises of the Brilliant Monument”.
Well, "recover" means different things to different people, based on what they paid for their shares. I'm betting that the good ones will increase in value and the bad ones will fade away.
A fair example would be sdth which got knocked down into the .20s and is kicking its way back into the .70s....good for those who came into it down near the .20s yet not so good for those who were in at $3 before it got booted.
Like I said earlier, it held up rather well today, I was looking to get some lower than where it opened.
been following this one for about 2 years. company is making a lot of good deals, but it got jacked up in the 3-way along w/ the auditor on the side. It likely is management's fault, and part of me just believes this is how things are done in China.
will this company recover, who knows. the Pinks are usually where stocks die. But the company is real, and they have the potential to succeed. Who's to say if the american market will ever give second chances to these companies or if management cares enough to respect their stock. time will tell.
i actually did.... not sure why. but i bought a lil more too.
John, I'm not happy about what happened to this stock....I had never heard of it before yesterday.... Lots of these china tickers are being bumped for their fuzzy math.
I'm simply looking for the ones that will recover some realistic pps. I hope you see some decent recovery on your investment, but pinkyland sure ain't like the big boards.... it will take time and hopefully audited fins.
so did you stay in, now that trading has resumed?
good for you. I've just been stuck with the halt. I'll need about another $2 per share to break even. Once they've done their REAL financials and are allowed into the pinks, it should take off again, even if they are forever banned from AMEX. I'm sure they'll never do fuzzy math again.
I need to watch it a little before I decide if I'm gonna jump in the pool.
NIVS is the ticker i bought