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printing .119. acting like word went around that a seller was cleaned up. how many million bagholder shares watching now?
Looks like it's picking up.
The dead live?
1.3m block at 04, and now a number of prints on the offers at 07, 08. certainly the most interesting action in a few weeks.
Yes the cash coming back is good. We'll see if they attempt to resolve the other issues and try again to re-list on the Nasdaq exchange.
Very good news for the company. All funds have been back to the company, while that was the reason it was delisted ? !
Now, just wondering whether it'll apply for re-listing.
News: SinoTech Provides Update Regarding Transfer of Corporate Funds and NASDAQ De-Listing
BEIJING, Nov 11, 2011 (GlobeNewswire via COMTEX) -- SinoTech Energy Limited (Pink Sheets:CTESY) ("SinoTech" or the "Company"), a provider of enhanced oil recovery ("EOR") services in China, previously announced on September 23, 2011, that certain corporate funds had been transferred to a bank account controlled by Mr. Qingzeng Liu, Chair of the Company's Board of Directors (the "Board"). On September 23, 2011, the Company also announced that Mr. Liu had agreed to re-transfer to the Company all such amounts, and that the Company had received a significant portion of those funds. The Company announced today that re-transfer of the remaining funds to the Company was completed on October 24, 2011.
The Company also announced that it has withdrawn its appeal to the previously announced delisting determination by The Nasdaq Stock Market LLC ("NASDAQ") because, to date, it has been unable to cure the issues identified by NASDAQ and disclosed by the Company on September 21 and October 4, 2011. NASDAQ informed the Company in a letter dated October 28, 2011 that the Company's shares will continue to be suspended from trading, and that NASDAQ will file a Form 25 Notification of Delisting with the U.S. Securities Exchange Commission when all NASDAQ internal appeal periods end.
The Company further announced that the Special Committee of the Board has decided to discontinue the independent investigation into allegations made in a report posted on alfredlittle.com and other matters.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties, including those disclosed in SinoTech's filings with the United States Securities and Exchange Commission, and are based on information available to SinoTech's management as of the date hereof and on its current expectations. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. SinoTech undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: SinoTech Energy Limited
By Staff
CONTACT: CONTACT: Investor and media inquiries:
Ms. Rebecca Guo
SinoTech Energy Limited, Beijing
+ 86-10-8712-5567
rebecca.guo@sinotechenergy.com
Placed 200k share buy order at $0.065 today again, but not filled. They filled 43k share at $0.07, Zut! Will raise the buy to $0.07 tomorrow.
Placed 200k share buy order at $0.065 today, but not filled. Will try tomorrow.
Here is the link for the conference call:
http://biz.yahoo.com/cc/3/125163.html
Watching and waiting its pullback and buy some.
Listened to CTESY conference call last night, the company (CEO) said they would buy back 20 million shares and get re-listed on NASDAQ.
Just wondering whether they're still trying.
Comments appreciated.
Watching CTESY, found just 5k shares at $0.20, then, $1.29. Anybody could tell the L2 quotes for it?
Thanks a lot.
Hmmm, CTESY (was CTE) was $2.25 before its delisting and its 52 week high as $9. Interesting. Might be a good buy.
Will watch it closely.
agree off radar for now once it doubles this board will get active
good buying today- still this is extremely off-radar. watch when we're trading .50++ again haha
today hard to fill on bid side
was that you stealing my shares LOL j/k
Chart and DD page- pretty inclusive:
CTESY chart and DD- MOST *undervalued* stock in existence- check this out:
I suggest reading all the filings, this first will show what the company was doing in just August of 2011, few months ago- raised guidance to about 120Mil in Revs, business going well etc. Do your DD, i expect a new filing here within a week or so, and if it's even slightly positive, this will see dollars again-
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8079529
Next is why the stock got suspended and crashed- Chairman looted the co. account- filings show that subsequently some of the $$ was returned and they're working to get the rest back- " that they believe that there has been a potentially unauthorized transfer in 2011 by Mr. Qingzeng Liu, the Chairman of the Board of the Company (the “Chairman”), of a material portion of the Company’s cash from a Chinese bank account held in the name of the Company’s Chinese operating subsidiary to a bank account controlled by the Chairman"
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8161839
Spoke with someone @ the NYC office of Brunswick, who wasn't able to say much aside from the fact that as mentioned in the filing, CTE has petitioned NASDAQ for a relist and that they're currently in negotiations. The company will make a new filing and release news when the petition/negotiations with NAZ produce something of substance. * Brunswick is not their IR, they're a corporate communications firm, big difference i'm sure i don't have to explain. Their IR page is here: www.ir.sinotechenergy.com
http://www.brunswickgroup.com/contact/contact/brunswick-group.offices.aspx
Chart- selloff is done, MM's and MYSELF are buying all the stock down here.
sometimes it pays, when you sell never look back lol
I think just the chart, huge gap and big crasher sets off alot of scans.. mine included lol
potential off-shore cash from the IPO... why it moved today: no idea. short covers? rumors?
i like it- what's the back story here? Read the filings and all but there's always more
a close around .17 would be nice kinda late in the day but would still be nice lol
come on baby finish what you started
a line from some 70's song lol
absolutely nothing if the price goes nowhere
What do these suggest?
The way it closed Friday, I would expect a nice run on Monday. I really don't see this as a .05 stock, in my opinion. I have 5000 shares averaged at .11. Can't get hurt too bad if it has an unlikely plunge.
posted this on yahoo finance board so I figured I'd repost it here.. fibonacci is like magic, but works due to the human element (if you buy into that crap!!! i do.....) either way, below is a copy and paste from the yahoo board
If I lose all, well, don't hold it against me. I'm only human, and this pattern has worked extremely well in the past (usually I prefer when they bounce IMMEDIATELY!!!!!!!!!!!!!!!! I don't like multiple buys.. but in this case since I started off so small, I figured I'd try it on this one). my buys are .50, .12, and .07 and I now own 10,000 shares.. play these things small and don't risk your account. just sayin. speaking in generalities here)
looks like a mess right towards the end. guess we got our .10 close either way. some .09s popped in too, and .08s. now we just need a catalyst, rather than people averaging in to get out.
have a good weekend. perhaps the bounce comes next week (if at all). cheers
i show 2 seperate prints at the same time 100 each
did someone just paint it at .10 with 200 shares? getting mixed closes from different platforms
not too late jim inching as we speak
.10 on the ask. who wants to buy in before the weekend, just in case something happens/something's said? any takers? lmao. quality company here, as confirmed by the 90% decline in 3 days!
i saw that. at this point i think i'd be happy just breaking even.. but would love to see it get lively (not holding my breath)
lol did you see NITE he moved to .45 please let that be a precursor of things to come yes agree on the closing price
i do.. but i'd prefer the magic happen on its own. hah.. the bid is vapor down to .03. but even then i dont trust level 2 on this dud. just gonna have to wait for that daily to set up.. closes at .06 i still dont trust it
you got a paintbrush handy
looks fairly flat in here at .06.. but needs to close atleast around .09/10
if alfredlittle hit the nail on the head, they may not. gotta give it a little relief at some point i'd imagine. I mean, even YUII CCME and PUDA trade higher than this pos
wish i knew...if the compnay refutes the allegations it's a scam that might help
yeah I havnt played it but did play pwav with you guys and msmy is nice for the intraday play
thx would like to get out even
added one more time near the close
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Company Profile | |
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Company Name | SinoTech Energy Limited |
Ticker Symbol | CTE |
Market | NASDAQ Global Select Market |
Industry Type | Petroleum |
Principal Activities | Oilfield Services |
Date of Establishment | June 9, 2010 |
Date of Listing | November 3, 2010 |
Chairman | Qingzeng Liu |
Principal Office | No.19, Ronghua South Road, Beijing Economic Technological Area Beijing, 100176 People's Republic of China |
Number of Employees | 63, as of June 30, 2010 |
Depositary Bank | The Bank of New York Mellon |
Telephone | +86-10-8712-5555 |
Fax | +86-10-8712-5500 |
rebecca.guo@sinotechenergy.com and sinotech@brunswickgroup.com |
BEIJING, Oct. 4, 2011 (GLOBE NEWSWIRE) -- SinoTech Energy Limited (Nasdaq:CTE) ("SinoTech" or the "Company"), a provider of enhanced oil recovery ("EOR") services in China, today announced that it has received a letter dated September 26, 2011, from The Nasdaq Stock Market LLC ("NASDAQ") stating that an additional basis for delisting the Company's securities from the Nasdaq Stock Market is that Ernst & Young Hua Ming has withdrawn its audit opinion, the Company is delinquent in its periodic reports, and the Company therefore is not in compliance with Listing Rule 5250(c)(1). The Company is planning to request a stay of the delisting of the Company's stock resulting from the additional alleged basis for the delisting.
The Company announced that Ms. Jing Liu has resigned from her position as an independent director of the Company and as Chair of the Special Committee of the Company's Board of Directors (the "Board"), which was formed to conduct an independent investigation into allegations made in a report posted on alfredlittle.com and other matters.
Ms. Liu cited several bases for her resignation, including, without limitation, her belief that the Special Committee was not allowed to exercise independently the authority vested in it by the Board to conduct an investigation.
The Company announced that Simpson Thacher & Bartlett LLP has resigned from its position as the legal counsel of the Company. The Company also announced that, following Ms. Liu's resignation, Shearman & Sterling LLP has resigned from its position as legal counsel to the Special Committee of the Board.
The Company is planning on appointing another independent director in the near future who will replace Ms. Liu.
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