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I've been watching for a long time. Never thought I'd be able to get in at a penny. And now the waiting game . . . .
Some buying today and the bottom appears to be in.
Impressive balance sheet for a 100mil OS stock at .01s.
I quietly pick up a few noodles along the way.
Love the company but so far I'm not impressed with the stock.
Maybe I've got noodles for brains, LOL.
Been watching since June. Haven't bought yet, but will.
July 19,2011: UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 25
NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.
Commission File Number 001-15046
Issuer: NEW DRAGON ASIA CORP
Exchange: NYSE Amex
Address: 10 Huangcheng Road (N)
Shandong Province, CHINA
Telephone number: (86 535) 8951 567
(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)
Class A Common Stock, $0.0001 par value
(Description of class of securities)
Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:
o 17 CFR 240.12d2-2(a)(1)
o 17 CFR 240.12d2-2(a)(2)
o 17 CFR 240.12d2-2(a)(3)
o 17 CFR 240.12d2-2(a)(4)
x Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.
o Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.
Pursuant to the requirements for the Securities Exchange Act of 1934, NYSE Amex certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.
2011-07-19 By Janice O'Neill Senior Vice President, Corporate Compliance
1 Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.
http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=8047220-4940-14599&type=sect&TabIndex=2&companyid=64960&ppu=%252fdefault.aspx%253fcik%253d1089590
DETERMINATION AND NOTIFICATION OF REMOVAL FROM LISTING
AND/OR REGISTRATION UNDER SECTION 12(b) OF THE
SECURITIES EXCHANGE ACT OF 1934
Attachment to Form 25
July 19, 2011
NYSE Amex LLC (the “Exchange”), pursuant to Section 12(d) of the Securities Exchange Act of 1934 and Rule 12d2-2(b) promulgated thereunder by the Securities and Exchange Commission (the “SEC” or the “Commission”), has determined to strike from listing and registration on the Exchange, the following:
New Dragon Asia Corporation
Common Stock, $0.0001 Par Value
Commission File Number - 001-15046
1.
The standards of the Exchange provide, among other things, that consideration may be given to the removal of a security when: (i) the financial condition and/or operating results of the issuer appear to be unsatisfactory; (ii) the issuer has failed to comply with its listing agreements with the Exchange; or (iii) any other event shall occur or any condition shall exist which makes further dealings on the Exchange unwarranted.
In applying these standards, the Exchange gives consideration to delisting the securities of a company that is not in compliance with or is subject to:
(a)
Section 301 of the NYSE AMEX Company Guide (“Company Guide “) which states a listed company is not permitted to issue, or to authorize its transfer agent or registrar to issue or register, additional securities of a listed class until it has filed an application for the listing of such additional securities and received notification from the Exchange that the securities have been approved for listing.
(b)
Section 1003(f)(iii) of the Company Guide which states the Exchange will normally consider suspending dealings in, or remove from the list, a security if the issuer or its management shall engage in operations which, in the opinion of the Exchange, are contrary to the public interest.
(c)
Section 1003(f)(v) of the Company Guide which states the Exchange will normally consider suspending dealings in, or remove from the list, a security trading at a price not suitable for auction market trading.
2.
The Class A Common Stock (the “Common Stock”) of New Dragon Asia Corp. (the "Company" or “New Dragon Asia”) does not qualify for continued listing due to the following:
(a)
The Company is subject to delisting pursuant to Section 301 of the Company Guide which does not permit a listed Company to issue, or to authorize its transfer agent or registrar to issue or register, additional securities of a listed class until it has filed an application for the listing of such additional securities and received notification from the Exchange that the securities have been approved for listing. The Company failed to provide an additional listing application in relation to all issued shares of Common Stock that have not been previously authorized by the Exchange.
(b)
The Company is subject to delisting pursuant to Section 1003(f)(iii) of the Company Guide in that the Company or its management has engaged in operations, which, in the opinion of Staff, are contrary to the public interest. New Dragon Asia issued approximately 119.5 million shares of Common Stock, which is 19.5 million shares (the “Excess Shares”) in excess of the 100 million shares of Common Stock authorized for issuance under the Company’s certificate of incorporation. The Excess Shares are void under Florida law. The Company was unable to obtain shareholder approval authorizing an increase in the Company’s authorized Common Stock under its certificate of incorporation.
(c)
The Company is subject to delisting pursuant to Section 1003(f)(v) of the Company Guide in that the Company’s Common Stock has not closed above $0.10 per share since May 2010 and the Company was unable to effect a reverse stock split of its Common Stock to cure its low selling price by April 4, 2011.
3.
In reviewing the eligibility of the Company's Common Stock for continued listing, the Exchange has complied with its standards and procedures as follows:
(a)
On October 5, 2010, the Exchange notified New Dragon Asia that the Exchange was concerned that as a result of the Company’s low selling price 1 , its Common Stock may not be suitable for auction market trading. As a result, the Company had become subject to the procedures and requirements of Section 1009 of the Company Guide. The Exchange advised the Company that its continued listing was predicated on it effecting a reverse stock split of its Common Stock by no later than April 4, 2011.
(b)
On January 21, 2011, the Exchange notified New Dragon Asia that it had become aware that the Company had issued approximately 19.5 million shares of Common Stock in excess of the 100 million shares of Common Stock authorized for issuance under the Company’s certificate of incorporation and such shares were void under Florida law. The Exchange requested the Company provide an additional listing application for all shares of its Common Stock that were outstanding which had not been approved for listing by the Exchange. The Exchange also requested an opinion stating that all the Company’s outstanding shares of Common Stock are duly authorized, validly issued, fully paid and non-assessable.
(c)
On February 4, 2011, the Exchange notified New Dragon Asia that it was subject to immediate delisting proceeding based on its failure to comply with Sections 301, 1003(f)(iii) and (v) of the Company Guide. The Exchange’s letter also informed the Company of its limited right, in accordance with Sections 1203 and 1009(d) of the Company Guide, to request a hearing before a Listing Qualifications Panel (a “Panel”) within seven days of the Staff Determination, or by February 14, 2011.
(d)
On February 14, 2011, the Company requested pursuant to Sections 1203 and 1009(d) of the Company Guide, an oral hearing to appeal the Staff Determination. A hearing before a Panel was scheduled for April 5, 2011.
(e)
On April 5, 2011, a hearing, at which the Company’s representatives were present, was conducted before the Panel. At the hearing, New Dragon Asia did not dispute the facts of its non-compliance and claimed it has been unable to hold an annual meeting where its shareholders could approve resolutions sufficient to cure its non-compliance with Sections 301, 1003(f)(iii) and (v) of the Company Guide. The Company requested for the Panel to grant the Company an extension of time within which to cure its non-compliance.
(f)
By letter dated April 6, 2011, the Panel notified the Company of its decision to grant the Company an extension until May 27, 2011 to regain compliance.
(g)
By letter dated June 2, 2011, the Exchange notified the Panel and New Dragon Asia that it had concluded that the Company had not regained compliance with the Exchange’s continued listing standards. Specifically the Company did not obtain shareholder approval to increase the number of authorized shares of Common Stock under its certificate of incorporation for the Excess Shares void under Florida law. As a result, the Company was unable to provide a legal opinion stating that all the Company’s outstanding shares of Common Stock were duly authorized, validly issued, fully paid and non-assessable. The Company was unable to provide an additional listing application for all the shares of Common Stock outstanding which had not been approved for listing by the Exchange and unable to effect a reverse stock split to cure its low selling price. The Exchange advised the Company it would suspend trading in the Company’s Common Stock as soon as practicable.
(h)
By letter dated June 17, 2011, the NYSE Euronext Office of General Counsel as Counsel to the Committee on Securities (“Committee on Securities”) notified the Exchange that New Dragon Asia requested pursuant to Section 1205 of the Company Guide a hearing to appeal the April 6, 2011 decision of the Panel. A hearing before the Committee on Securities was scheduled for August 3, 2011.
(i)
By letter dated July 7, 2011, New Dragon Asia notified the Committee on Securities of its decision to withdraw its appeal to the Committee on Securities.
Accordingly, the Exchange, having complied with all of its procedures, is authorized to file this application in accordance with Section 12 of the Securities Exchange Act of 1934 and the rules promulgated thereunder.
4.
In the opinion of the Exchange, all of the material facts relating to the reasons for this application are contained herein.
5.
The Exchange official whose signature is set forth below is duly authorized to file this application.
6.
In accordance with the provisions of Rule 12d2-2, the Exchange has issued public notice of its final determination to remove the Company’s Common Stock from listing and/or registration by issuing a press release and posting notice on www.nyse.com . Further, a copy of this application has been forwarded to Ms. Li Xia Wang, Chief Executive Officer, of New Dragon Asia Corporation.
Janice O’Neill
Senior Vice President – Corporate Compliance
NYSE Amex LLC
Footnotes
1 As of October 4, 2010, the closing price of the Company’s Common Stock was $0.05 per share.
Looks like another dud my friend! LOL! Any thoughts on our other favorite KHGT?
Can't imagine!
New Dragon Asia Corp. to Trade on OTCQB; New Trading Symbol NDAC Effective Wednesday, June 8, 2011
New Dragon Asia Corp. (NYSE Amex:NWD), one of China's leading producers of instant noodles, flour-related products and soybean derived products today announced that trading of the Company's common stock will cease trading on the NYSE Amex LLC (the "Exchange") effective at the close of business on June 7, 2011. The Company is appealing the Exchange's determination to delist the Company's common stock. The Company has been informed that it is eligible for trading on the OTCQB Marketplace effective Market open on June 8, 2011 under the new ticker symbol "NDAC".
OTC Markets Group Inc. operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks, including the OTCQB Marketplace.
About New Dragon Asia Corp.
Headquartered in Shandong Province, PRC, New Dragon Asia Corp. is engaged in the milling, sale and distribution of flour and related products, including instant noodles and soybean-derived products, to retail and wholesale customers throughout China. With a well-known brand name called "Long Feng", the Company markets its well-established product line through a countrywide network of more than 200 key distributors and 16 regional offices in 27 Chinese provinces. New Dragon Asia has eight manufacturing plants in the PRC with an aggregate production capacity of approximately 110,000 tons of flour and approximately 1.1 billion packets of instant noodles and 4,500 tons of soybean powder.
CONTACT: New Dragon Asia Corp.
Email: lf-lyz@163.com
I guess New Dragon will go to Plan B whatever the heck that will be .
Rejected! Now what do they do?
New Dragon Asia Announces Results of Annual Meeting Vote
New Dragon Asia Corp. (NYSE Amex:NWD), one of China's leading producers of instant noodles, flour-related products and soybean derived products today announced that at its Annual Meeting of Shareholders, which reconvened after adjournment on May 20, 2011, stockholders elected the six directors nominated to the Company's Board of Directors and ratified the appointment of Parker Randall CF (H.K.) CPA Limited as the Company's independent registered public accounting firm. The proposal to approve the amendment to the Company's Articles of Incorporation to increase the number of authorized shares of Class A common stock to cure the over-issuance of shares of common stock received only 42.6% of the votes of the shares entitled to vote and therefore failed to be adopted. The Company believes that the failure to obtain approval of this proposal and the related reverse split of the Class A common stock may lead to the NYSE AMEX proceeding with the delisting of its Class A common stock and may result in liability to those stockholders that are able to provide documentation demonstrating their ownership of shares involved in the over-issuance.
About New Dragon Asia Corp.
Headquartered in Shandong Province, PRC, New Dragon Asia Corp. is engaged in the milling, sale and distribution of flour and related products, including instant noodles and soybean-derived products, to retail and wholesale customers throughout China. With a well-known brand name called "Long Feng", the Company markets its well-established product line through a countrywide network of more than 200 key distributors and 16 regional offices in 27 Chinese provinces. New Dragon Asia has eight manufacturing plants in the PRC with an aggregate production capacity of approximately 110,000 tons of flour and approximately 1.1 billion packets of instant noodles and 4,500 tons of soybean powder.
CONTACT: New Dragon Asia Corp.
Email: lf-lyz@163.com
May 10, 2011 : ISS and Glass Lewis Recommend Shareholders Vote in Favor of All Proposals at New Dragon Asia Corp. Annual Meeting
New Dragon Asia Corp. (NYSE Amex:NWD), one of China's leading producers of instant noodles, flour-related products and soybean derived products today announced that ISS and Glass Lewis, the leading independent U.S. proxy advisory firms, have both recommended that the company's shareholders vote "FOR" all proposals in its 2011 Proxy Statement.
The Company issued a reminder to those shareholders that received proxy materials in connection with the annual meeting of shareholders and have not yet voted that their vote is important. Only shareholders who held the Company's stock as of the record date of March 23, 2011 are eligible to vote. Those shareholders that have received proxy materials should utilize one of the options below to ensure that their vote is promptly recorded in time for the shareholders meeting:
VOTE BY INTERNET: You may cast your vote by logging into: http://www.proxyvote.com. You will need to reference the control number that is found on your Voting Instruction Form (VIF).
VOTE BY TOUCHTONE PHONE: You may cast your vote by calling the toll free number found on your Voting Instruction Form (VIF). You will need to reference the control number that is found on the VIF.
VOTE BY MAIL: You may cast your vote by mail by signing, dating and mailing the proxy card that you received by mail.
Those shareholders that have any questions relating to the shareholder meeting, voting methods, or need to request additional proxy materials should call the Company's proxy solicitation advisors Advantage Proxy toll-free at 1-877-870-8565 between the hours of 9:00 a.m. and 9:00 p.m. Eastern time, Monday through Friday.
About New Dragon Asia Corp.
Headquartered in Shandong Province, PRC, New Dragon Asia Corp. is engaged in the milling, sale and distribution of flour and related products, including instant noodles and soybean-derived products, to retail and wholesale customers throughout China. With a well-known brand name called "Long Feng", the Company markets its well-established product line through a countrywide network of more than 200 key distributors and 16 regional offices in 27 Chinese provinces. New Dragon Asia has eight manufacturing plants in the PRC with an aggregate production capacity of approximately 110,000 tons of flour and approximately 1.1 billion packets of instant noodles and 4,500 tons of soybean powder.
CONTACT: Advantage Proxy
1-877-870-8565
This stock will probably go up all day today
That is great news , yogowypi . Good for you !!
I not only did that, but averaged down enough that 8 cents will get me even.
In retrospect I'm sure you're glad you sold some at .07 cents .
Well done to minimize loss .
This is really not doing to much at all. Took your info initially on KHGT, Thank You, hoping for some positive for this one. Not going to ride it as long as KHGT though, get out with a lot more in my pocket than over there, I hope.
I sold a lot of mine at 7 last week and they sold at 1200, 100, 100, 1200, 100, 100...I don't know what they thought they were doing! But they all sold at 7. and then dipped to .053. I knew this would be good for something finally!
Now BLOW UP again!
I don't know what is going on today, but I must say, I like it!
MAN Are you right.
The CFO resigned yesterday.
http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=NWD×tamp=20110420100200
I have to agree with the decrease in exposure, but I am at 1/3 of my original value. I think it may gap up today and I can "maybe" recover some value. I do think this stock can be a good value, but the R/S concerns me. Maybe after the split we can gain on it. I am glad it is only a small percentage of my portfolio and nearly every stock in the portfolio showed green yesterday! Nice change going into Easter weekend. Have a nice holiday, y'all.
Yogowypi , the 2010 10K shows improvement over 2009 so that may explain the improved PPS valuations .
The Board and Shareholder Annual Meeting in May still has the reverse split looming . If NWD's PPS keeps increasing it may be a consideration to decrease your exposure to risk , FWIW .
After hours sale of .0547. Nice bump today!
OMG we hit a nickel!!!
Up 22.76% and still moving! We could see 10cents at this rate! Today! Go! Go! Go!
Up 16% and still moving? What is going on here! Keep it up!
Thanks for the info about the May 13th meeting. Maybe the 12th will be the day to bail out. Hehe.
Sorry, don't pm, but I am glad you got some profit.
I need 3 times the price to just get even. I never considered myself a bagholder, I am just in it for the loooonng term. I think if I hold it long enough, it might come back some. I have averaged down some, but there are people who think that is also bad. I'll just keep averaging down and hope there are enough people who want it when I sell. I can't say I have lost money until I sell it at a loss. Good luck!
Thanks , Yogowypi . I did liquidate my position between yesterday and today . I'll wait for firm direction before buying back .
Time to get out if you can!!! If I was even close to par I would!
The Annual Meeting of the Stockholders of New Dragon Asia Corp., a Florida corporation (the “Company ” or “NWD ” ), will be held on May 13, 2011, at 9:00 a.m. (New York time), at the offices of Loeb & Loeb LLP, the Company’s counsel, located at 345 Park Avenue, New York, New York 10154 and any adjournment thereof (the “Annual Meeting”) for the following purposes:
1. To approve an amendment to our Articles of Incorporation to increase the number of authorized shares of Class A common stock, par value $0.0001 per share ( “Common Stock ” ) to 119,509,894 shares (the “Authorized Share Increase Proposal ” );
2. To approve an amendment to our Articles of Incorporation to effect a reverse split of our Common Stock at a ratio of 1 for 100 (the “Reverse Split Proposal ”) ;
I can't stand this. How much will the price crash after the reverse?
I'm getting dizzy up here in the stratosphere ....hahaha ...I'm up .02 measly cents per share .
Decisions , decisions .
good luck with it. I am going to quit looking at the price and just follow the board for a while
I picked up a few crumbs at .04 ....200,000 crumbs .
GULP .
Teensy pump here ....go NWD ...please .
I am worried that my investment is nearly gone now, but I am in so deep I have to wait til the whole trend reverses. Hard to cut losses at this stage.
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BREAKOUT ALERT MARCH 15, 2009 -Glen Bradford
New Dragon Asia Corp.: founded in 1952 in Longkou, Shandong Province.
International Chamber Of Commerce Tower
Suite 2808 Fuhua Three Road
Shenzhen, 518027
China - Map
Phone: 86 75 5883 12115
Fax: 86 75 5883 12120
Web Site: http://www.newdragonasia.com
As Seen on PeakStocks.com! Noodles are so incredibly Sexy
Sector: Consumer Goods
Industry: Processed & Packaged Goods
Q How does New Dragon differentiate itself from its competitors?
A Superior quality, nationwide distribution, a well-established brand name and a rapidly growing international business. The company is also vertically integrated, handling all milling, processing, packaging, and distribution in-house.
Q How many employees does New Dragon have?
A New Dragon has approximately 2,000 employees.
BUSINESS SUMMARY
New Dragon Asia Corp. and its subsidiaries engage in the milling, sale, and distribution of flour and related products to retail and wholesale customers in China. The company produces and markets wheat flour for use in bread, dumplings, noodles, and confectionary products, as well as soybean protein powder and soybean powder to food and beverage manufacturers. It also provides various instant noodle products, such as packet noodles for home preparation, as well as snacks and cup noodles for outdoor convenience. New Dragon Asia sells its products principally through distributors in China. It also exports noodle products to Korea, Australia, Malaysia, and Indonesia.
Mr. Heng Jing Lu, chairman of the Company, graduated from The Shandong Institute of Economics in accounting and is a PRC qualified accountant. Before joining the Company on December 15, 2003, he had been working in the oil and grain industry for over 30 years. Prior to joining the Company, he was the director of Oil and Grain Bureau of Longkou, Shandong PRC where he had worked since 1975. He has extensive experience in the management of agricultural and food related enterprises and strategic planning. He is primarily responsible for business development and overall company management.
Ms. Li Xia Wang, current director and chief executive officer of the Company, graduated from The Shandong Institute of Economics in accounting and is a PRC qualified accountant. She joined the Longkou Oil & Grain Group Company in 1980, and gained extensive experience in the field of finance and accounting, most recently as Deputy General Manager. She joined New Dragon as a director of the Company on December 15, 2003.
Ms. Ling Wang, current director and vice president of the Company, graduated from Shandong Television Broadcast University in economics management. She has been working with the subsidiary of the Company since 1981 and her main responsibilities are in operation control and internal audit.
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http://www.newdragonasia.com
New Dragon Asia Corp., a Florida corporation (AMEX: NWD), is headquartered in Shandong Province, China and is engaged in the milling, sale and distribution of flour and related products. With its well-established brand name Long Feng, New Dragon Asia is China’s fourth largest instant noodle manufacturer.
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