Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
CHDT correct is the stock ?
II believe .14 on monday or more , and tuesday will be in the .20's
First of all , i have sooo much power here , you dont understand ? Banah 18 ? What the hell is that , I dont go on allstocks.
We believe this company has too much potential , we did dump on friday afternoon , but the only reason was to get in cheaper , our entry price before was much higher on thursday , so we believe this will run hard all week and the investment is a short term investment , maximum 3 weeks
Do you know who you are speaking to , I guess not. I have tons of credibility on stockhideout and pal talk , i can move stocks :) And i believe in this company and we are adding a total of 8 million monday morning , we added a huge amount on thursday , and then dumped at 2:30 on friday thats why the price tanked , sorry about that , but we believe this will run hard after the cc
I added 1.92 million before close on friday :)
Im adding me and my group a total of 8 million monday
MONDAY
AUGC is a momo play
CHDT is going to be huge.
ICOA looks great , it could bounce , ill add some on monday :) What do you think happened to CHDT on friday ?
CHDT and EDEX yes definitely , and CHDT has a huge week of prs and the conference call on monday .
Thats bullshit. Shakerz did get out here is proof
http://finance.yahoo.com/q/bc?t=1d&s=XKEM.OB&l=on&z=m&q=l&c=CHDTE.ob
Where can i see the short list for the otcbb and pink sheets , isnt it out , does anyone have the site ?
I believe someone dumped huge on CHDT or else we wouldnt have been where we are
13:33 08/28/2006 CHDTE CHDT China Direct Trading Corporation Common Stock
http://www.otcbb.com/asp/dailylist_detail.asp?d=08/25/2006&mkt_ctg=OTCBB
CHDT monster stock , glad shakerz is out , this shjould explode with shakerz out of this stock
CHDT was a pump and dump by shakerz , and im glad he is out , now he is going to hurt XKEM , bad SHAKERZ
http://finance.yahoo.com/q/bc?t=1d&s=XKEM.OB&l=on&z=m&q=l&c=CHDTE.ob
Look at this shakerz exits CHDTE and then enters XKEM , u seem the resemblance ?
SLJB yeah , it keeps lingering in the 0.07 -0.09 range , it will eventually explode :P
THE COMPANY HAS REDUCED THE O/S TO 5 BILLION
AND YET FROM July 11, 2006 - August 24, 2006
WE TRADED CLOSE TO 13 BILLION SHARES WITH A O/S
OF ONLY 5 BILLION.
PAIM ALSO HAS NO SEC FILINGS OR AUDITED FINACIALS.
AS OF AUGUST 24.2006
AUGUST SHORT FOR PAIM IS ONLY 1,389,066 SHARES
THE LINK BELOW , TYPE IN PAIM SEE WHAT IT SAYS
.
http://www.otcbb.com/asp/OTCE_Short_Interest.asp
INSTEAD OF MOVING UP WE DROPPED FROM .0065-0015.
PAIM DUMPING SHARES FOR 5% OF Sta. Barbara. READ
Source: Business Wire (Aug 4,06 - 9:45 AM)
PAIM completed 80% buyback of its 30 billion
common shares bringing the o/s below 5 billion
common shares.
Leaving the Authorized Shares still 30 Billion.
July 12, 2006 - 3:35 PM EDT
PAIM announced that it is close to completing
the buyback of approximately 27,000,000,000 or
90% of its issued and outstanding common shares.
The Volume Shot Up July 11,to 702,957,649
july 12 to 450,623,652, july 13, 923,283,814
july 14, 769,007,512.
From July 11, 2006 - August 24, 2006
The Price per share went From .0001 to
.0065 per share. Now it has fallen to .0015
and still falling.
DAILY VOLUMES AND CLOSING PRICES
http://www.**********.com/swnet/utilit/utilit_snapsh_result.aspx?
action=go&symbol=PAIM®ion=U&snapshot=SX
THE COMPANY HAS REDUCED THE O/S TO 5 BILLION
AND YET FROM July 11, 2006 - August 24, 2006
WE TRADED CLOSE TO 13 BILLION SHARES WITH A O/S
OF ONLY 5 BILLION.
PAIM ALSO HAS NO SEC FILINGS OR AUDITED FINACIALS.
AS OF AUGUST 24.2006
AUGUST SHORT FOR PAIM IS ONLY 1,389,066 SHARES
THE LINK BELOW , TYPE IN PAIM SEE WHAT IT SAYS
.
http://www.otcbb.com/asp/OTCE_Short_Interest.asp
INSTEAD OF MOVING UP WE DROPPED FROM .0065-0015.
MANILA, Philippines (Business Wire) Aug. 22, 2006
Pearl Asian Mining Industries, Inc. (PAIM) announces
Pearl Asian will receive a 5% share of a the
operations of a small scale mining group . Where it will
Finance Operations and also buy the GOLD and only get 5%
of the profits.
I wonder if ther Finaciaing Came from Possible shares sold
from authorizied Sharesof 27 billion.
people pay .004 and better have lost 50% of their Money in 30
Days.
30 billion share copmpany * .0015 = $45 million
In July Shares Traded easily above .03 several timnes.
in august above .02. in the last month in Half the
Compnay easily traded $45 million. Yet The Price per share
Has Continously Fallen, Like shares were FLOODING THE MARKET.
LOOK LIKE .0002-.0004 NOT FAR OFF.
LOOKS LIKE A CLASSIC PUMP AND DUMP, LEAVING SHAREHOLDERS LOSING
75% IF YOU HAVE BOUGHT ABOVE .04.
SEcond of all , other than shakerz , hes not a big deal , look at the mm's signaling 100 shares , meaning they need shares at a cheaper price , it also could be huge insitutions that need those shares , they know something huge is coming before the next leg up.
Here is my analysis on today's action. First , SHakerz frontloaded today at .1030 and yesterday as well .
Second of all , he sold some at .12 , and he dumped big time at 2:30 or so. He killed the momo in the stock. That is what you call manipulation. So once howard comes out next week tith the cc , and if its really positive expect a huge shoot up , if not , expect it to linger in the 0.0870 + range , but howard will have something positive , he doesnt want his company to go down. :)
Great day today but some disappointing stocks that didnt do to well
PAIM
CHDTE
SLJB
CHDTE dip here , add before the huge run
China Direct Reports Revenue Increase of 1,520%, Revenue Increases 58% Sequentially from Q2 2006 over Q1 2006
Friday August 25, 10:04 am ET
Q2 2006 Revenue of $3.97 Million and Net Income of $374,885 on delivered orders
COOPER CITY, Fla., Aug. 25 /PRNewswire-FirstCall/ -- China Direct Trading Corp. (OTC Bulletin Board: CHDT.OB - News) today announced consolidated results for the second quarter of FY2006 ended June 30, 2006, and the filing of its Form 10-Q for that fiscal quarter with the U.S. Securities and Exchange Commission.
ADVERTISEMENT
FINANCIAL RESULTS: Reported consolidated gross revenues for the quarter ending June 30, 2006, were $3,969,957, an increase of 1,520% from the $261,016 in gross revenues reported for the second quarter of FY2005 and a sequential increase of 58% over first quarter FY2006 gross revenues of $2,511,809. The increase in gross revenues is primarily due to growth in power generator sales by Complete Power Solutions, LLC, a 51%-owned China Direct subsidiary.
Total sales orders reached $6,800,000 Q2 FY2006, of which $3.97 million could be recognized under applicable GAAP as second quarter FY2006 gross revenues.
Profitability continued to accelerate as second quarter FY2006 net income rose to $374,885 over sequential first quarter FY2006 net income of $42,718, versus a loss of $(18,097) for the corresponding second quarter of FY2005.
Cash position increased to $873,211 in Q2 2006 versus $9,090 at the end of the 2005 calendar year.
"Our profitability is increasing and our ability to sell, contract and complete power generator installations is accelerating, as evidenced by the rapid increase in completed orders over the second quarter," said Howard Ullman, CEO/President of China Direct. "The higher investment and associated costs in building out our infrastructure in Q1 FY2006 are now paying off and we will continue to strive to drive cost efficiencies to seek increased profits."
INVESTOR TELECONFERENCE: China Direct will host an investor teleconference to discuss second quarter FY2006 results and update investors on current corporate and subsidiary initiatives on Monday, August 28, 2006 at 10:00 AM Eastern Time. To participate in the call, the dial-in number is (319) 632-1100, then enter access code 260372 and push the pound (#) key. A replay of the call will be available for two weeks and will be accessible at (641) 985-5006, access code 260372#. A replay of the call will also be available from the www.chdt.us web site one day following the call.
Balance Sheet and Consolidated Statement of Operations Financial Tables
follow:
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, December 31,
2006 2005
Assets:
Current assets:
Cash $873,211 $9,090
Accounts receivable - net 3,856,521 4,000
Advances 1,200 -
Inventory 659,325 11,760
Prepaid expense 49,134 -
Total Current Assets 5,439,391 24,850
Fixed assets:
Communications equipment 12,941 -
Computer equipment 29,898 4,965
Computer software 6,724 -
Transportation equipment 365,303 -
Machinery and equipment 103,296 -
Furniture and fixtures 43,945 -
Leasehold improvements 19,413 -
Less: Accumulated Depreciation (93,506) (2,132)
Total Fixed Assets 488,014 2,833
Other non-current assets:
Deposits 89,610 1,775
Goodwill 1,567,214 -
Total other non-current assets 1,656,824 1,775
Total assets $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Continued)
(Unaudited)
June 30, December 31,
2006 2005
Liabilities and Stockholders' Deficit:
Current Liabilities:
Accounts payable, trade $763,584 $35,666
Accrued expenses 549,161 496,783
Customer deposits 1,970,544 24,891
Notes payable - current maturities 80,535 -
Related party payables 26,011 16,011
Total Current Liabilities 3,389,835 573,351
Long-Term Liabilities:
Notes payable - less current maturities 284,296 -
Stockholder loans payable 747,500 -
Investor loans payable 710,100 -
Total Long-Term Liabilities 1,741,896 -
Total Liabilities 5,131,731 573,351
Minority Interest 741,788 -
Stockholders' Deficit:
Preferred Stock, par value $.001 per share
Authorized 100,000,000 shares,
Issued 1,265,000 shares at
June 30, 2006 and 8,000 shares
at December 31, 2005 1,265 8
Common Stock, par value $.0001 per share
Authorized 600,000,000 shares,
Issued 543,122,028 Shares at
June 30, 2006 and December 31, 2005 54,313 54,313
Additional paid-in capital 2,668,408 832,665
Accumulated deficit (1,013,276) (1,430,879)
Total Stockholders' Deficit 1,710,710 (543,893)
Total Liabilities and
Stockholders' Deficit $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (Unaudited)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
2006 2005 2006 2005
Revenues $3,969,957 $261,016 $6,481,766 $465,370
Cost of Sales (2,160,684) (155,101) (4,043,229) (327,376)
Gross Profit 1,809,273 105,915 2,438,537 137,994
Operating Expenses:
Sales and marketing 81,773 4,353 173,559 6,126
Compensation 738,923 50,000 896,340 100,000
Professional fees 34,039 36,282 65,907 49,095
Other General and
administrative 203,884 33,388 362,968 85,909
Total Operating
Expenses 1,058,619 124,023 1,498,774 241,130
Net Operating
Income (Loss) 750,654 (18,108) 939,763 (103,136)
Other Income (Expense):
Interest income 2,150 11 2,150 11
Interest expense (26,715) - (41,724) (740)
Net Income (Loss) before
minority interest 726,089 (18,097) 900,189 (103,865)
Minority interest (351,204) - (482,586) -
Net Income (Loss) $374,885 $(18,097) $417,603 $(103,865)
Weighted Average
Shares Outstanding 543,122,028 517,232,972 543,122,028 516,348,305
Income (Loss) per
Common Share $- $- $- $-
About China Direct: China Direct (www.chdt.us) is a holding company engaged through its operating subsidiaries in the following business lines: Overseas Building Supply (OBS) is engaged in manufacturing, distribution and logistics of building materials including but not limited to generators, roof tiles, interior doors, and insulation materials. CPS (www.completepower247.com) is a majority-owned subsidiary engaged in turnkey solutions for standby commercial and residential power generation. Souvenir Direct Inc. (SDI) is engaged in product development, manufacturing, distribution, logistics and product placement into mass retail of souvenir and gift items in 29 countries. None of the web site URLs listed in this press release are incorporated into or are part of this press release
Forward-Looking Statements: This press release, including any financial information and projections, contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on China Direct's and its subsidiaries' managements' current expectations and assumptions, and involve risks and uncertainties. Such expectations and assumptions may prove to be faulty or incorrect and actual results may differ significantly, materially from those anticipated results set forth in such statements. No forward-looking statement is or can be guaranteed. Current revenues and revenue growth is not a reliable indicator of future financial results and should not be relied upon by investors as such an indicator. The sale of power generators can be affected by a number of factors that are beyond the control of China Direct or CPS, including seasonal sales cycles, availability of affordable inventory financing, predatory pricing by competitors and weather conditions. China Direct and CPS undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this press release and risks associated with any investment in China Direct, which is a "penny stock" company (and as such is deemed a "highly risky investment") should be evaluated together with the many uncertainties that affect our business, particularly those stated in the cautionary statements and risk factors in current and future China Direct SEC Filings, which statements we hereby incorporate by reference herein. Such risks include, but are not limited to, foreign, national, state and local government regulation, actions or initiatives, Changes in general economic conditions, consumer spending habits, or the sales environment which, in each case, could reduce demand for our products; Risks as a distributor of products produced by other companies; The risk our outstanding litigation could result in settlements or judgments which are material to us; Dilution from any potential issuance of common or convertible preferred stock or convertible debt in connection with financings or acquisition activities; and Risks that we may not realize or anticipate from the expected increased sales and profits and other benefits from CPC.
--------------------------------------------------------------------------------
Source: China Direct Trading Corporation
China Direct Reports Revenue Increase of 1,520%, Revenue Increases 58% Sequentially from Q2 2006 over Q1 2006
Friday August 25, 10:04 am ET
Q2 2006 Revenue of $3.97 Million and Net Income of $374,885 on delivered orders
COOPER CITY, Fla., Aug. 25 /PRNewswire-FirstCall/ -- China Direct Trading Corp. (OTC Bulletin Board: CHDT.OB - News) today announced consolidated results for the second quarter of FY2006 ended June 30, 2006, and the filing of its Form 10-Q for that fiscal quarter with the U.S. Securities and Exchange Commission.
ADVERTISEMENT
FINANCIAL RESULTS: Reported consolidated gross revenues for the quarter ending June 30, 2006, were $3,969,957, an increase of 1,520% from the $261,016 in gross revenues reported for the second quarter of FY2005 and a sequential increase of 58% over first quarter FY2006 gross revenues of $2,511,809. The increase in gross revenues is primarily due to growth in power generator sales by Complete Power Solutions, LLC, a 51%-owned China Direct subsidiary.
Total sales orders reached $6,800,000 Q2 FY2006, of which $3.97 million could be recognized under applicable GAAP as second quarter FY2006 gross revenues.
Profitability continued to accelerate as second quarter FY2006 net income rose to $374,885 over sequential first quarter FY2006 net income of $42,718, versus a loss of $(18,097) for the corresponding second quarter of FY2005.
Cash position increased to $873,211 in Q2 2006 versus $9,090 at the end of the 2005 calendar year.
"Our profitability is increasing and our ability to sell, contract and complete power generator installations is accelerating, as evidenced by the rapid increase in completed orders over the second quarter," said Howard Ullman, CEO/President of China Direct. "The higher investment and associated costs in building out our infrastructure in Q1 FY2006 are now paying off and we will continue to strive to drive cost efficiencies to seek increased profits."
INVESTOR TELECONFERENCE: China Direct will host an investor teleconference to discuss second quarter FY2006 results and update investors on current corporate and subsidiary initiatives on Monday, August 28, 2006 at 10:00 AM Eastern Time. To participate in the call, the dial-in number is (319) 632-1100, then enter access code 260372 and push the pound (#) key. A replay of the call will be available for two weeks and will be accessible at (641) 985-5006, access code 260372#. A replay of the call will also be available from the www.chdt.us web site one day following the call.
Balance Sheet and Consolidated Statement of Operations Financial Tables
follow:
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, December 31,
2006 2005
Assets:
Current assets:
Cash $873,211 $9,090
Accounts receivable - net 3,856,521 4,000
Advances 1,200 -
Inventory 659,325 11,760
Prepaid expense 49,134 -
Total Current Assets 5,439,391 24,850
Fixed assets:
Communications equipment 12,941 -
Computer equipment 29,898 4,965
Computer software 6,724 -
Transportation equipment 365,303 -
Machinery and equipment 103,296 -
Furniture and fixtures 43,945 -
Leasehold improvements 19,413 -
Less: Accumulated Depreciation (93,506) (2,132)
Total Fixed Assets 488,014 2,833
Other non-current assets:
Deposits 89,610 1,775
Goodwill 1,567,214 -
Total other non-current assets 1,656,824 1,775
Total assets $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Continued)
(Unaudited)
June 30, December 31,
2006 2005
Liabilities and Stockholders' Deficit:
Current Liabilities:
Accounts payable, trade $763,584 $35,666
Accrued expenses 549,161 496,783
Customer deposits 1,970,544 24,891
Notes payable - current maturities 80,535 -
Related party payables 26,011 16,011
Total Current Liabilities 3,389,835 573,351
Long-Term Liabilities:
Notes payable - less current maturities 284,296 -
Stockholder loans payable 747,500 -
Investor loans payable 710,100 -
Total Long-Term Liabilities 1,741,896 -
Total Liabilities 5,131,731 573,351
Minority Interest 741,788 -
Stockholders' Deficit:
Preferred Stock, par value $.001 per share
Authorized 100,000,000 shares,
Issued 1,265,000 shares at
June 30, 2006 and 8,000 shares
at December 31, 2005 1,265 8
Common Stock, par value $.0001 per share
Authorized 600,000,000 shares,
Issued 543,122,028 Shares at
June 30, 2006 and December 31, 2005 54,313 54,313
Additional paid-in capital 2,668,408 832,665
Accumulated deficit (1,013,276) (1,430,879)
Total Stockholders' Deficit 1,710,710 (543,893)
Total Liabilities and
Stockholders' Deficit $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (Unaudited)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
2006 2005 2006 2005
Revenues $3,969,957 $261,016 $6,481,766 $465,370
Cost of Sales (2,160,684) (155,101) (4,043,229) (327,376)
Gross Profit 1,809,273 105,915 2,438,537 137,994
Operating Expenses:
Sales and marketing 81,773 4,353 173,559 6,126
Compensation 738,923 50,000 896,340 100,000
Professional fees 34,039 36,282 65,907 49,095
Other General and
administrative 203,884 33,388 362,968 85,909
Total Operating
Expenses 1,058,619 124,023 1,498,774 241,130
Net Operating
Income (Loss) 750,654 (18,108) 939,763 (103,136)
Other Income (Expense):
Interest income 2,150 11 2,150 11
Interest expense (26,715) - (41,724) (740)
Net Income (Loss) before
minority interest 726,089 (18,097) 900,189 (103,865)
Minority interest (351,204) - (482,586) -
Net Income (Loss) $374,885 $(18,097) $417,603 $(103,865)
Weighted Average
Shares Outstanding 543,122,028 517,232,972 543,122,028 516,348,305
Income (Loss) per
Common Share $- $- $- $-
About China Direct: China Direct (www.chdt.us) is a holding company engaged through its operating subsidiaries in the following business lines: Overseas Building Supply (OBS) is engaged in manufacturing, distribution and logistics of building materials including but not limited to generators, roof tiles, interior doors, and insulation materials. CPS (www.completepower247.com) is a majority-owned subsidiary engaged in turnkey solutions for standby commercial and residential power generation. Souvenir Direct Inc. (SDI) is engaged in product development, manufacturing, distribution, logistics and product placement into mass retail of souvenir and gift items in 29 countries. None of the web site URLs listed in this press release are incorporated into or are part of this press release
Forward-Looking Statements: This press release, including any financial information and projections, contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on China Direct's and its subsidiaries' managements' current expectations and assumptions, and involve risks and uncertainties. Such expectations and assumptions may prove to be faulty or incorrect and actual results may differ significantly, materially from those anticipated results set forth in such statements. No forward-looking statement is or can be guaranteed. Current revenues and revenue growth is not a reliable indicator of future financial results and should not be relied upon by investors as such an indicator. The sale of power generators can be affected by a number of factors that are beyond the control of China Direct or CPS, including seasonal sales cycles, availability of affordable inventory financing, predatory pricing by competitors and weather conditions. China Direct and CPS undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this press release and risks associated with any investment in China Direct, which is a "penny stock" company (and as such is deemed a "highly risky investment") should be evaluated together with the many uncertainties that affect our business, particularly those stated in the cautionary statements and risk factors in current and future China Direct SEC Filings, which statements we hereby incorporate by reference herein. Such risks include, but are not limited to, foreign, national, state and local government regulation, actions or initiatives, Changes in general economic conditions, consumer spending habits, or the sales environment which, in each case, could reduce demand for our products; Risks as a distributor of products produced by other companies; The risk our outstanding litigation could result in settlements or judgments which are material to us; Dilution from any potential issuance of common or convertible preferred stock or convertible debt in connection with financings or acquisition activities; and Risks that we may not realize or anticipate from the expected increased sales and profits and other benefits from CPC.
--------------------------------------------------------------------------------
Source: China Direct Trading Corporation
China Direct Reports Revenue Increase of 1,520%, Revenue Increases 58% Sequentially from Q2 2006 over Q1 2006
Friday August 25, 10:04 am ET
Q2 2006 Revenue of $3.97 Million and Net Income of $374,885 on delivered orders
COOPER CITY, Fla., Aug. 25 /PRNewswire-FirstCall/ -- China Direct Trading Corp. (OTC Bulletin Board: CHDT.OB - News) today announced consolidated results for the second quarter of FY2006 ended June 30, 2006, and the filing of its Form 10-Q for that fiscal quarter with the U.S. Securities and Exchange Commission.
ADVERTISEMENT
FINANCIAL RESULTS: Reported consolidated gross revenues for the quarter ending June 30, 2006, were $3,969,957, an increase of 1,520% from the $261,016 in gross revenues reported for the second quarter of FY2005 and a sequential increase of 58% over first quarter FY2006 gross revenues of $2,511,809. The increase in gross revenues is primarily due to growth in power generator sales by Complete Power Solutions, LLC, a 51%-owned China Direct subsidiary.
Total sales orders reached $6,800,000 Q2 FY2006, of which $3.97 million could be recognized under applicable GAAP as second quarter FY2006 gross revenues.
Profitability continued to accelerate as second quarter FY2006 net income rose to $374,885 over sequential first quarter FY2006 net income of $42,718, versus a loss of $(18,097) for the corresponding second quarter of FY2005.
Cash position increased to $873,211 in Q2 2006 versus $9,090 at the end of the 2005 calendar year.
"Our profitability is increasing and our ability to sell, contract and complete power generator installations is accelerating, as evidenced by the rapid increase in completed orders over the second quarter," said Howard Ullman, CEO/President of China Direct. "The higher investment and associated costs in building out our infrastructure in Q1 FY2006 are now paying off and we will continue to strive to drive cost efficiencies to seek increased profits."
INVESTOR TELECONFERENCE: China Direct will host an investor teleconference to discuss second quarter FY2006 results and update investors on current corporate and subsidiary initiatives on Monday, August 28, 2006 at 10:00 AM Eastern Time. To participate in the call, the dial-in number is (319) 632-1100, then enter access code 260372 and push the pound (#) key. A replay of the call will be available for two weeks and will be accessible at (641) 985-5006, access code 260372#. A replay of the call will also be available from the www.chdt.us web site one day following the call.
Balance Sheet and Consolidated Statement of Operations Financial Tables
follow:
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, December 31,
2006 2005
Assets:
Current assets:
Cash $873,211 $9,090
Accounts receivable - net 3,856,521 4,000
Advances 1,200 -
Inventory 659,325 11,760
Prepaid expense 49,134 -
Total Current Assets 5,439,391 24,850
Fixed assets:
Communications equipment 12,941 -
Computer equipment 29,898 4,965
Computer software 6,724 -
Transportation equipment 365,303 -
Machinery and equipment 103,296 -
Furniture and fixtures 43,945 -
Leasehold improvements 19,413 -
Less: Accumulated Depreciation (93,506) (2,132)
Total Fixed Assets 488,014 2,833
Other non-current assets:
Deposits 89,610 1,775
Goodwill 1,567,214 -
Total other non-current assets 1,656,824 1,775
Total assets $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Continued)
(Unaudited)
June 30, December 31,
2006 2005
Liabilities and Stockholders' Deficit:
Current Liabilities:
Accounts payable, trade $763,584 $35,666
Accrued expenses 549,161 496,783
Customer deposits 1,970,544 24,891
Notes payable - current maturities 80,535 -
Related party payables 26,011 16,011
Total Current Liabilities 3,389,835 573,351
Long-Term Liabilities:
Notes payable - less current maturities 284,296 -
Stockholder loans payable 747,500 -
Investor loans payable 710,100 -
Total Long-Term Liabilities 1,741,896 -
Total Liabilities 5,131,731 573,351
Minority Interest 741,788 -
Stockholders' Deficit:
Preferred Stock, par value $.001 per share
Authorized 100,000,000 shares,
Issued 1,265,000 shares at
June 30, 2006 and 8,000 shares
at December 31, 2005 1,265 8
Common Stock, par value $.0001 per share
Authorized 600,000,000 shares,
Issued 543,122,028 Shares at
June 30, 2006 and December 31, 2005 54,313 54,313
Additional paid-in capital 2,668,408 832,665
Accumulated deficit (1,013,276) (1,430,879)
Total Stockholders' Deficit 1,710,710 (543,893)
Total Liabilities and
Stockholders' Deficit $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (Unaudited)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
2006 2005 2006 2005
Revenues $3,969,957 $261,016 $6,481,766 $465,370
Cost of Sales (2,160,684) (155,101) (4,043,229) (327,376)
Gross Profit 1,809,273 105,915 2,438,537 137,994
Operating Expenses:
Sales and marketing 81,773 4,353 173,559 6,126
Compensation 738,923 50,000 896,340 100,000
Professional fees 34,039 36,282 65,907 49,095
Other General and
administrative 203,884 33,388 362,968 85,909
Total Operating
Expenses 1,058,619 124,023 1,498,774 241,130
Net Operating
Income (Loss) 750,654 (18,108) 939,763 (103,136)
Other Income (Expense):
Interest income 2,150 11 2,150 11
Interest expense (26,715) - (41,724) (740)
Net Income (Loss) before
minority interest 726,089 (18,097) 900,189 (103,865)
Minority interest (351,204) - (482,586) -
Net Income (Loss) $374,885 $(18,097) $417,603 $(103,865)
Weighted Average
Shares Outstanding 543,122,028 517,232,972 543,122,028 516,348,305
Income (Loss) per
Common Share $- $- $- $-
About China Direct: China Direct (www.chdt.us) is a holding company engaged through its operating subsidiaries in the following business lines: Overseas Building Supply (OBS) is engaged in manufacturing, distribution and logistics of building materials including but not limited to generators, roof tiles, interior doors, and insulation materials. CPS (www.completepower247.com) is a majority-owned subsidiary engaged in turnkey solutions for standby commercial and residential power generation. Souvenir Direct Inc. (SDI) is engaged in product development, manufacturing, distribution, logistics and product placement into mass retail of souvenir and gift items in 29 countries. None of the web site URLs listed in this press release are incorporated into or are part of this press release
Forward-Looking Statements: This press release, including any financial information and projections, contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on China Direct's and its subsidiaries' managements' current expectations and assumptions, and involve risks and uncertainties. Such expectations and assumptions may prove to be faulty or incorrect and actual results may differ significantly, materially from those anticipated results set forth in such statements. No forward-looking statement is or can be guaranteed. Current revenues and revenue growth is not a reliable indicator of future financial results and should not be relied upon by investors as such an indicator. The sale of power generators can be affected by a number of factors that are beyond the control of China Direct or CPS, including seasonal sales cycles, availability of affordable inventory financing, predatory pricing by competitors and weather conditions. China Direct and CPS undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this press release and risks associated with any investment in China Direct, which is a "penny stock" company (and as such is deemed a "highly risky investment") should be evaluated together with the many uncertainties that affect our business, particularly those stated in the cautionary statements and risk factors in current and future China Direct SEC Filings, which statements we hereby incorporate by reference herein. Such risks include, but are not limited to, foreign, national, state and local government regulation, actions or initiatives, Changes in general economic conditions, consumer spending habits, or the sales environment which, in each case, could reduce demand for our products; Risks as a distributor of products produced by other companies; The risk our outstanding litigation could result in settlements or judgments which are material to us; Dilution from any potential issuance of common or convertible preferred stock or convertible debt in connection with financings or acquisition activities; and Risks that we may not realize or anticipate from the expected increased sales and profits and other benefits from CPC.
--------------------------------------------------------------------------------
Source: China Direct Trading Corporation
China Direct Reports Revenue Increase of 1,520%, Revenue Increases 58% Sequentially from Q2 2006 over Q1 2006
Friday August 25, 10:04 am ET
Q2 2006 Revenue of $3.97 Million and Net Income of $374,885 on delivered orders
COOPER CITY, Fla., Aug. 25 /PRNewswire-FirstCall/ -- China Direct Trading Corp. (OTC Bulletin Board: CHDT.OB - News) today announced consolidated results for the second quarter of FY2006 ended June 30, 2006, and the filing of its Form 10-Q for that fiscal quarter with the U.S. Securities and Exchange Commission.
ADVERTISEMENT
FINANCIAL RESULTS: Reported consolidated gross revenues for the quarter ending June 30, 2006, were $3,969,957, an increase of 1,520% from the $261,016 in gross revenues reported for the second quarter of FY2005 and a sequential increase of 58% over first quarter FY2006 gross revenues of $2,511,809. The increase in gross revenues is primarily due to growth in power generator sales by Complete Power Solutions, LLC, a 51%-owned China Direct subsidiary.
Total sales orders reached $6,800,000 Q2 FY2006, of which $3.97 million could be recognized under applicable GAAP as second quarter FY2006 gross revenues.
Profitability continued to accelerate as second quarter FY2006 net income rose to $374,885 over sequential first quarter FY2006 net income of $42,718, versus a loss of $(18,097) for the corresponding second quarter of FY2005.
Cash position increased to $873,211 in Q2 2006 versus $9,090 at the end of the 2005 calendar year.
"Our profitability is increasing and our ability to sell, contract and complete power generator installations is accelerating, as evidenced by the rapid increase in completed orders over the second quarter," said Howard Ullman, CEO/President of China Direct. "The higher investment and associated costs in building out our infrastructure in Q1 FY2006 are now paying off and we will continue to strive to drive cost efficiencies to seek increased profits."
INVESTOR TELECONFERENCE: China Direct will host an investor teleconference to discuss second quarter FY2006 results and update investors on current corporate and subsidiary initiatives on Monday, August 28, 2006 at 10:00 AM Eastern Time. To participate in the call, the dial-in number is (319) 632-1100, then enter access code 260372 and push the pound (#) key. A replay of the call will be available for two weeks and will be accessible at (641) 985-5006, access code 260372#. A replay of the call will also be available from the www.chdt.us web site one day following the call.
Balance Sheet and Consolidated Statement of Operations Financial Tables
follow:
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
June 30, December 31,
2006 2005
Assets:
Current assets:
Cash $873,211 $9,090
Accounts receivable - net 3,856,521 4,000
Advances 1,200 -
Inventory 659,325 11,760
Prepaid expense 49,134 -
Total Current Assets 5,439,391 24,850
Fixed assets:
Communications equipment 12,941 -
Computer equipment 29,898 4,965
Computer software 6,724 -
Transportation equipment 365,303 -
Machinery and equipment 103,296 -
Furniture and fixtures 43,945 -
Leasehold improvements 19,413 -
Less: Accumulated Depreciation (93,506) (2,132)
Total Fixed Assets 488,014 2,833
Other non-current assets:
Deposits 89,610 1,775
Goodwill 1,567,214 -
Total other non-current assets 1,656,824 1,775
Total assets $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Continued)
(Unaudited)
June 30, December 31,
2006 2005
Liabilities and Stockholders' Deficit:
Current Liabilities:
Accounts payable, trade $763,584 $35,666
Accrued expenses 549,161 496,783
Customer deposits 1,970,544 24,891
Notes payable - current maturities 80,535 -
Related party payables 26,011 16,011
Total Current Liabilities 3,389,835 573,351
Long-Term Liabilities:
Notes payable - less current maturities 284,296 -
Stockholder loans payable 747,500 -
Investor loans payable 710,100 -
Total Long-Term Liabilities 1,741,896 -
Total Liabilities 5,131,731 573,351
Minority Interest 741,788 -
Stockholders' Deficit:
Preferred Stock, par value $.001 per share
Authorized 100,000,000 shares,
Issued 1,265,000 shares at
June 30, 2006 and 8,000 shares
at December 31, 2005 1,265 8
Common Stock, par value $.0001 per share
Authorized 600,000,000 shares,
Issued 543,122,028 Shares at
June 30, 2006 and December 31, 2005 54,313 54,313
Additional paid-in capital 2,668,408 832,665
Accumulated deficit (1,013,276) (1,430,879)
Total Stockholders' Deficit 1,710,710 (543,893)
Total Liabilities and
Stockholders' Deficit $7,584,229 $29,458
CHINA DIRECT TRADING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (Unaudited)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
2006 2005 2006 2005
Revenues $3,969,957 $261,016 $6,481,766 $465,370
Cost of Sales (2,160,684) (155,101) (4,043,229) (327,376)
Gross Profit 1,809,273 105,915 2,438,537 137,994
Operating Expenses:
Sales and marketing 81,773 4,353 173,559 6,126
Compensation 738,923 50,000 896,340 100,000
Professional fees 34,039 36,282 65,907 49,095
Other General and
administrative 203,884 33,388 362,968 85,909
Total Operating
Expenses 1,058,619 124,023 1,498,774 241,130
Net Operating
Income (Loss) 750,654 (18,108) 939,763 (103,136)
Other Income (Expense):
Interest income 2,150 11 2,150 11
Interest expense (26,715) - (41,724) (740)
Net Income (Loss) before
minority interest 726,089 (18,097) 900,189 (103,865)
Minority interest (351,204) - (482,586) -
Net Income (Loss) $374,885 $(18,097) $417,603 $(103,865)
Weighted Average
Shares Outstanding 543,122,028 517,232,972 543,122,028 516,348,305
Income (Loss) per
Common Share $- $- $- $-
About China Direct: China Direct (www.chdt.us) is a holding company engaged through its operating subsidiaries in the following business lines: Overseas Building Supply (OBS) is engaged in manufacturing, distribution and logistics of building materials including but not limited to generators, roof tiles, interior doors, and insulation materials. CPS (www.completepower247.com) is a majority-owned subsidiary engaged in turnkey solutions for standby commercial and residential power generation. Souvenir Direct Inc. (SDI) is engaged in product development, manufacturing, distribution, logistics and product placement into mass retail of souvenir and gift items in 29 countries. None of the web site URLs listed in this press release are incorporated into or are part of this press release
Forward-Looking Statements: This press release, including any financial information and projections, contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on China Direct's and its subsidiaries' managements' current expectations and assumptions, and involve risks and uncertainties. Such expectations and assumptions may prove to be faulty or incorrect and actual results may differ significantly, materially from those anticipated results set forth in such statements. No forward-looking statement is or can be guaranteed. Current revenues and revenue growth is not a reliable indicator of future financial results and should not be relied upon by investors as such an indicator. The sale of power generators can be affected by a number of factors that are beyond the control of China Direct or CPS, including seasonal sales cycles, availability of affordable inventory financing, predatory pricing by competitors and weather conditions. China Direct and CPS undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Forward-looking statements in this press release and risks associated with any investment in China Direct, which is a "penny stock" company (and as such is deemed a "highly risky investment") should be evaluated together with the many uncertainties that affect our business, particularly those stated in the cautionary statements and risk factors in current and future China Direct SEC Filings, which statements we hereby incorporate by reference herein. Such risks include, but are not limited to, foreign, national, state and local government regulation, actions or initiatives, Changes in general economic conditions, consumer spending habits, or the sales environment which, in each case, could reduce demand for our products; Risks as a distributor of products produced by other companies; The risk our outstanding litigation could result in settlements or judgments which are material to us; Dilution from any potential issuance of common or convertible preferred stock or convertible debt in connection with financings or acquisition activities; and Risks that we may not realize or anticipate from the expected increased sales and profits and other benefits from CPC.
--------------------------------------------------------------------------------
Source: China Direct Trading Corporation
CHDTE conference call on MONDAY , this will run hard into monday !
CHDTE-------------VERY NICE GAP SHOULD CLOSE AT 0.20!
CHDT 2700% increase in revenues 2200% increase in net income this will definitely move toay , get in early!
CHDT is going to go TODAY...2700% increase in net income :)
For the six months ended June 30, 2006, the Company had
net income of approximately $418,000. For the six months ended June 30, 2005,
the Company had a net loss of approximately $104,000.
http://www.sec.gov/Archives/edgar/data/814926/000093980206000428/form10qsb063006.txt
For the six months ended June 30, 2006, the Company had
net income of approximately $418,000. For the six months ended June 30, 2005,
the Company had a net loss of approximately $104,000.
For the six months ended June 30, 2006 and 2005, the
Company had total sales of approximately $6,482,000 and $465,000 respectively,
for an increase of approximately $6,017,000. The increase in revenues was due to
the acquisition of Complete Power Solutions
CHDT 10Q IS OUT AND THE NUMBERS ARE HUGE
CHDTE LAST TIME TO BUY
LAN GOOOOOOOOOOOOOO!
GO GO GO GO IGAI ...PAIM might rebounce here
IGAI pre market trades utick , is the german group in yet hah , im waiting cmon rock this IGAI , im adding at open
IGAI. Small float and rumors about german group :) I cant wait to see
As of July 20, 2006 the Registrant had 95,369,558 shares of common stock issued and outstanding.
Ive been hearing that a german group will be on IGAI later this afternoon is that true , same group that ran STTK , they said their target is over 0.02 , im loading .
Soo all ACTC gainers , take some profit , dont let it ride too high , i took profit , then ride free shares its the best .
Then play other stocks :)