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Bruce, it is the same, in a different way.Anyone who goes to a Casino (99.9%) of the time expects they will lose.Some people get their enjoyment from a casino, others the stock market, but if it makes that person have a good time ( win or lose), that's all that matters!
Anyone looking at these stocks I believe knows what reality is already! Anyway, this beats having a quiet board!
Bruce,
<This is also a free message board wherein posters are entitled to post their opinions>
That's what I love. That we BOTH have the freedom to make our cases and state our points! I have the choice to throw money away where I please and you can point out why this investment sucks!
Out of everything you mentioned in your post as to what can possibly happen, let me just leave it at Nothing will surprise me when it happens!
Thanks FFF!
Bruce, correct me if I am wrong, but the OTCBB & Pink sheets have a couple of thousand listings.If I am correct, they are governed by the SEC until otherwise delisted. Meaning that any person who chooses to invest in one of these companies can if they choose to do so.Unless the company is doing something illegal ( which I gather you would contact the SEC if thatis the case),I do not understand what you are trying to tell us.We are allowed to invest freely wherever we choose, in what company we choose. I doubt anyone here has INBG in their IRA ( I doubt one can even do that)let alone putting serious funds into this.
<This company does not have to be in violation EDIT:of SEC rules to be a terrible investment>.
Maybe this may not be the best investment, but now it is the point of what we are allowed to do as free people, and the choices we are allowed to make.I really don't care how any times people say this "is a bad investment". If people choose to invest here, it is their right.It's no different when I throw away $500.00 in Atlantic City once a year.
I've accumulated more GE in the last 3 month then I thought I would at first because THAT is a ral investment. Let's lighten up, this is all for fun. If you think the company is doing something illegal, comatct the SEC, otherwise whoever invests certainly understands you get what you pay for.
EDIT:<if you like but the 40MM shares a week that are getting dumped into the float needs to be what you are concerned with>
Like I said, at least speaking for myself, no one will lose any sleep if this goes under tomorrow.
Have a good day!
Bruce,what are you referring to?
<Did you know the company does not have a listed telephone number>
US Office:
17800 Castleton Street, Suite 638,
City of Industry, CA 91748
Tel.: 626-581 8500
Fax: 626-626 7603
< Did you know that the corporate office is desk space rented at the CEO's brother's office?>
Yes, so what's wrong with that?
Bruce, keep one thing in mind.Do you realize the difficulty of getting China to approve the aquisition?
With that being said, I am not saying the rest of the Wuhan deal is going to happen, but for Yeung to get China to approve the deal, it takes some knowing of people and pulling of strings, IMO. In other words, Yeung seems to have connections and for INBG to try and take over the Wuhan company with Revenues in excess of $5.6 million or so makes no sense.
Lets see what happens. For now the dilution has stopped.
<China Government Approves Acquisition Of Wufeng Machinery Manufacturing Company By International Building Technologies Group
July 14, 2008
International Building Technologies Group, Inc. has announced that the Chinese Government has granted approval for the company to acquire 88% of China based Wuhan Wufeng Machinery Manufacturing Company.
The Wuhan Machinery Company has a registered capital of CNY26.420 million and International Building Technologies Group will pay a fixed acquisition price of CNY11 million.
On April 17, 2008, INBG signed a definitive agreement to purchase the Wuhan Machinery Company, which is located in Wuhan, Hubei Province. Since then INBG has been waiting for approval from the Chinese government and has been preparing for the audit of the Wuhan Machinery Company as scheduled in the definitive agreement.
Ken Yeung, CEO of INBG, said,"We are very excited by the Chinese Government's approval. Today's news brings us significantly closer to completing the acquisition of the Wuhan 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 machinery and equipment so that they will be able to manufacture the panel machinery that INBG will utilize in its panel production factory projects, while the current revenue of the Wuhan Machinery Company can bring in a reasonable return for INBG."
INBG 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," added Yeung.>
http://www.chinasourcingnews.com/2008/07/14/00339-china-government-approves-acquisition-of-wufeng-machinery-manufacturing-company-by-international-building-technologies-group/
AAPL id nice. I Bought GE when it was in the $7.00 range. If there was ever a sure thing it is GE.
INBG is just not getting it done.
Hi Colorado! Hope all is well! What a blast from the past!
INBG is carrying on where MSEP left off! LOL. That should say it all!
Has anyone heard from IR or am I the only one they are ignoring?
Tia
Collective thoughts on INBG...(blog update)
Over the weekend the Group conferenced on INBG, many of us are raising questions about when does a MOU to buy/sell a business/property expire? We have no answer to that, the fact is, it's been over 13 months since the announcement by INBG management to acquire Wuhan Wufeng Machinery. Although WWM is a valuable acquisition in an expansive-minded sector of the Chinese economy, but in our opinion, WWM is only a subsidiary of Intepower-China, with adequate amount of cooperation, the DD should've been completed by now. On one hand, we applaud INBG's effort in making thorough diligence on WWM's past three years result. But on the other, because it's a small company, the audit shouldn't have taken this long. Right here, we wonder when the MOU between INBG and WWM expire, if we know this date, then we'll have a good grasp on when the 2008 audit will be completed and when the acquisition will be finalized or rescinded. Onto the next pressing matters - a week ago it was brought to my attention by an anonymous tipper (JJ) that INBG and its CEO's pet project IA&D, a private construction & consulting company, are sharing the same offices in Chendu, China and in Azusa, Calfornia. So far, there hasn't been any response to this coincident. If one judges the book by its cover, it's evident IA&D has a much fancier website and impressive porfolio than INBG, conceivably it would be the one that Yeung is putting most effort into. Based on this assumption, where does this leaves INBG? Could it be INBG is only being used as a cash printing machine to support IA&D? We need to know this answer asap from INBG management, because there has been no mention of IA&D being a part of INBG operation. In the latest SEC 10K and 10Q, company reported two active and two inactive subsidiaries, which none of them mentioned about IA&D. Furthermore, the fact that IA&D has just recently moved its US office from San Dimas, CA and into INBG's Azusa, CA HQ, does bother us a little - actually a lot. If we view this from a positive angle, we can assume that IA&D could be in the process of combining with INBG, afterall they are sharing the same HQ office, the same CEO and are in the same sector of business. If this is the case, INBG shareholders have the right to demand for IA&D's accounting history, whether it's profitable or not, and whether INBG shareholders are entitled to a piece of IA&D should even one cent had gone from INBG and into the pockets of IA&D. This can be easily answered if one can get a confirmation on which company is paying the lease at the two office locations. And if IA&D is self-supporting and completely independent from INBG, I'm sure INBG shareholders will want to know from Mr. Kenneth Yeung, CEO, about his priority when running two businesses simultaneously. Is he devoting enough effort into closing INBG's acquisition of WWM, or is he working sparingly as a side-project while devoting his time running his private pet project IA&D? All of this are legitimate concerns, and the fact IR and Mr. Yeung have not address them makes this situation foggy. Even though we only have minimum exposure in INBG stock labeling INBG as our Experiment #2 rather than a full fledge speculative investment, but still, research effort must be carried out unbiasly. We'll wait another week or so before our next conference on INBG. But so far, facts showed in INBG's latest SEC filings, don't seem to match what's actually going on at INBG's two corporate locations - namely the mysterious and mildly suspicious presence of Yeung's pet project IA&D. If needed, we'll request 3rd party to look into this matter.
http://dliu1gousc.blogspot.com/2009/05/collective-thoughts-on-inbg.html
I agree claypool.Even Taz has said he hasn't been able to get back in @0.0002. Shares are very tight right now at this level with the anticipation of results.
Did you ever get them back @ 0.0002?
Thank you
Matt (or anyone who can be of help!),
Is there anyway in the near future that it will be possible to make a change, that when posts are deleted from a board by "ADMIN" the moderator of that board(in this case, myself as the INBG board moderator) I can see which ADMIN deleted the post, so I can know which person to contact to present my reasoning for wanting to restore that post?
I ask because on occasions, posts are removed that contain DD to the specific nature of business that INBG is looking to be involved in that specific region.Problem is the posters never mentions INBG in the post, so it comes cross as an "off-topic" post because the "ADMIN" naturally doesn't know the post is about things that may have a direct impact on business.
Any feedback and thoughts would be appreciated.
FFF, Company listed in PR is the company Yeung is attempting to aquire.What is so difficult about that to understand?
<International Building Technologies Group, Inc. Announces Preliminary Audited Figures for the Acquisition of Wuhan Wufeng Machinery Manufacturing Company and an Additional RMB 12.08 Million Increase in Value
ALAMEDA, Calif., Oct 14, 2008 (BUSINESS WIRE) -- International Building Technologies Group, Inc. (OTCBB:INBG) announced today that based on the current ongoing audit of Wuhan Wufeng Machinery Manufacturing Company ("Machinery Company"), preliminary audited figures show that the Machinery Company's assets are worth significantly more than anticipated and previously announced>
If you understand the machinary Yeung will try to convert, it is located in that particular factory he mentions all along.
Anything else you keep mentioning is correct. Unless things change,at the pace the shares are being issued, he may have to R/S down the road, although I do not believe it will ever happen, IMO.
FFF,The info is right there in the I-BOX
< Wuhan Wufeng? I do not think so>
Are you saying what INBG put out is incorrect? I think YOU need to prove otherwise, and It is clearly stated in the filings FFF.Ball is in your court FFF.
BTW, you're capabilities of finding things out are about the same for everyone else for a public company. It's just requires looking through the filings.
FFF.Do some and let me know. I did my DD.
Morning! I don't see the PPS going anywhere without good results and news from the 2008 audit, enabling INBG to complete the Wuhan plant purchase and start generating revenues.No news is not good news in this case.
FFF, what reason would Wuhans owners have for not mentioning the deal is off? None.Stocks aside,Wuhan is a fairly large operation. You can bet your last Flyers victory that there would be news of the deal being off and others looking to step in and purchase Wuhan.Public or private.
What benefits would Wuhan gain by agreeing to sell their factory (that generates revenues of 5-10 million dollars) to Yeung and his company ? None.
FFF,INBG has no relations withg PTSH, none what so ever, so I do not understand why you keep referencing PTSH.
In regards to:
<Just like PTSH I believe the acquisition is just a drawn out smokescreen to sell a bunch of stock>
I would like to say I agree with you, but the problem is where is the INBG P&D machine that is making the smokescreen. There is none, but if you think there is one, please let me know, I don't see it. NO PRs, no nothing (including revenues at this point!)
<Lastly, "who is buying all these shares?" People bought lots of TNTI/ MSEP/ MSEM/ INBG shares at all different share prices>
Never at any point did MSEM/MSEP/TNTI have a Accumulation chart that you are seeing with INBG. YOu never answered the question directly of who is buying,and again, it's not the five of us on this board, and I think you know that. Whoever is BUYING is doing it for a reason,IMO.
You will not see a R/S, IMO.
Gempicker,Excellent point! Also,such facts as clear Accumulation Chart that show aignificant accumulation are worth more than a JMO any day of the week!!!
<"Why anyone would pin their hopes on it when they know about it is crazy"..... EXACTLY... Why the hell would 400-500 million shares be bought between .0002-.0003+ when dilution is so evident?????? What group is that crazy to spend 100K+ on a hopeless stock??>
FFF, I think a poster did mention it, maybe you missed it.
<No one can explain HOW the acquisition can be completed with no cash or equity>
______________________________________________________________
Posted by: mbandit Date: Friday, April 17, 2009 2:48:07 PM
In reply to: flaflyersfan who wrote msg# 28808 Post # of 29481 [/B]
<I agree with you with your assessment of the reverse split if INBG finances the transaction. Reverse split is eminent.
However, I do not believe that INBG will be financing the purchase. It is my contention that a wholly owned subsidiary of INBG will go public in China, hence the 3 years of audited results. No company does 3 years of audited results for a straight purchase of a factory, especially a OTCBB stock where capital is scarce.
Going public with a wholly owned subsidiary with the Wuhan factory assets/revenues + additional new US contracts will create sufficient liquidity to purchase the factory and pay off the $3,000,000 of debt. It makes a lot of sense to do this. The underwriting costs to go public will be substantially less ($500,000 - $600,000) and could be structured as bridge loan / interim financing scenario.
I hope that this is scenario that plays out. The 3 years audited financials are a huge trigger to this logic. It makes total sense to structure it like this.>
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37116472
FFF, I can't recall how far back you have been saying R/S.You need to be a little more specific time wise.Just out of curiosity, please give me a "guesstimate" from right now when this "R/S will occur.
Thanks
Green, I agree. Someone or some people are gobbling up the shares dilution or no dilution. When the audit is finally done and is released is when everyone really finds out where this will go, until then just a lot of IMOs is the best anyone can do!
INBG 10Q is out...
(Blog)
Actually it's bad but not abyssmal, again the report reflects its stock prices, nothing to be proud of but at the same time, not giving me that sinking feeling like the 10K did. The key lies in the lengthy statement in the "going concern" section of the 10Q, it says: However, the Company is strategicallypositioning itself with contracts and business ventures that can significantlycontribute to its bottom line and the continuous development of its panelbusiness as evidenced by the signed memorandums of understanding with theSuijiang Government. On April 17, 2008, the Company signed a definitive StockSale and Purchase Agreement (SPA), with Wuhan Intepower Co., Ltd., ("Intepower")to acquire 92% of its subsidiary, Wuhan Wufeng Machinery Manufacturing Co., Ltd.("Machinery Company") located in Wuhan, Hubei province of China. Based on thefinal draft of the audited financials, the Machinery Company reported assets ofUS $5.3 million and revenues of approximately US $3,800,000 for the fiscal year2007. Once the acquisition is completed, revenues of the Machinery Company willbe consolidated with the Company's financial records and this consolidationshould result in the Company reporting a profit in the year of 2009.
This statement basically sums up the spirit of why we got into INBG in the first place, CEO's emphasis on the acquisition being finished in 09 is encouraging. Our condition is simple, for as long as INBG has no need to reverse split in order to complete the acquisition of Wuhan Machinary, we will be happy camper. And once it's completed, INBG stock should be trading well above $5-$10mm market cap, justifying a pps of $0.008-0.03 depending on the P/E multiple the market would reward INBG. Sigh..... What a relief and a pleasure it is to have read this report before the weekend - TGIF everyone.
http://dliu1gousc.blogspot.com/
And which also explains why there is no P&D PRs from this company that you see from a lot of other companies at these levels.
You can bet the the owners of the Wuhan factory wouldn't be waiting this long if the deal wasn't going to happen.
Wuhan factory pictures..
Good analysis Gempicker.
Things will happen, IMO.
No reason to believe it shouldn't have been out by today!
10Q looked good! The audit should be close to being complete!
Looks like volume starting to come in.
Very minimal dilution...THAT'S A FACT JACK!
That's the other half of the question no one wants to seem to answer!
<yet WHO IS buying in the face of all this dilution and WHY?>
FFF, Thats Viking 163, lets get it right! LOL
<VIKING1163>
Hi Gempicker. Yes, that has always been there.
Green, if some people believe that when the company only has a PO Box and no premises, then the selling is most likely Dilution,does that also mean that if the company HAS a P.O. Box and address, that there isn't dilution!
USA:
US Office:
17800 Castleton Street, Suite 638,
City of Industry, CA 91748
Tel.: 626-581 8500
Fax: 626-626 7603
CHINA:
Chengdu Office:
Room 2607, 26/F, Block 2, Sun Dynasty Buildings,
27 Ren Min Nan Road, Section 4, Chengdu
Sichuan Province, 610041, PRC.
Tel.: 86-28-8602 9750
1898 199 1586
Fax: 86-28-8602 9750