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.
INBG – International Building Technologies Group Inc.
On August 28, 2010, in Penny Stock Company News, by admin ....I recently researched INBG, a great potential stock that could make you thousands. Right now it is at .0004, but in a few months, who knows where it could be. It might be at .02$. Don’t say I didn’t warn you.
“For the quarter ended March 31, 2010, operating expenses for current operations totaled $118,570, which is more than the quarter ended March 31, 2009's, Operating Expenses of $94,999. The increase of $23,571 in operating expenses between quarters ended 2010 and 2009 was mostly attributed to the increases in the officer’s salary and professional fees.
“The expanded polystyrene in the IBT technology system has an acoustic insulation capacity that is four times higher than the traditional block system and thermal insulation that can isolate heat eight times more than constructions using the traditional block system.”
To read the entire report visit: www.microstockprofit.com/lp/INBG
International Building Technologies Group, Inc. Signed a LOI to Enter into a Merger with a China Petroleum Storage Facilities…
International Building Technologies Group, Inc. (OTCBB:INBG) announced today that it has signed Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company (“FHH Sino”) located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importer/exporter companies in China. FHH Sino has made a good faith deposit of USD 230,000 with INBG to execute the signed Letter of Intent.
According to recent appraisal prepared by an accounting firm in accordance with China accounting standards, FHH Sino has net assets worth RMB 370 million (approx. USD 54 million) and will generate annual revenues of RMB 100 million (approx. USD 14 million) after its completion of construction of Phase I and execution of signed rental contracts business in early 2011.
Stated Kenneth Yeung, CEO of INBG, “INBG intends to merge with FHH Sino by exchanging INBG’s common stock with FHH Sino’s holding or subsidiary company. This merger will give INBG the opportunity to switch its nature of business into the energy sector, the ability to generate revenue and profit once the FHH Sino commences its operation in early 2011, thus benefits our shareholders in the near future. FHH Sino is currently in construction of its Phase I with petroleum storage capacity of 320,000 m3 (or approx. 11,300,000 cubic feet) and has completed all the foundation and infrastructure for its 8 storage tanks. This infrastructure includes the supporting facilities and pipeline connecting to the harbor, which is just 600 meters away from the storage facilities. Strategically, this merger will strongly support INBG’s ability to connect with the energy market, the potential investors and strategic partners who are interested in participating to the energy sector in the most booming economic of the world, China, and throughout the world .”
About FFH Sino: FHH Sino New Energies Co., Ltd. is a petroleum storage company located in Weihai, a coastal city in Shandong Province of China. The company provides petroleum storage tanks for rental to petroleum companies such as Sinochem and Sino-Petro, as well as being engaged in the business of local fuel oil distribution. It has its approved Phase II planned with the additional storage tanks of 450,000 m3. FHH Sino will be one of the key players in the fuel storage facilities companies for the northern coastal cities of China after the completion of both Phases.
An 8-K along with a copy of the signed and executed LOI specifying all the terms and conditions of the transaction will be filed with the SEC shortly.
380K buy? I saw?
I am new!! :)
THIS STOCK WIL GO UP!!
Very exciting indeed.
Next week will be booming!!
Next level 0,135?
GTA
wow, nice volume. Look great next week.
STRONG BUY OUTLOOK HERE.
Maybe we hit 0,135 today!!
We will hit 0,005 today!!
0,08 is nothing!! WE GO MUCH HIGHER!!
Yes, I saw that buy!! NICE.
Here we go!!
Wait and see for the BIG NEWS HERE.
LONG!!
0,01 today or tommorow? :)
Nice 0,15 here we go!!
Here we go!!
*AMSTERDAM* ;)
That's great news! Nice..
WOW! NICE!
TOMORROW 0,004 PUSH!!
I AM NEW NICE DD!!!
Breakout, when we go above 0,03 NICE
In at the 0274 88K
Greetss
GO "KATX" and "LBSRE"
Ragilaaa
Amsterdam
LONG!!!
WANT TO SEE THE 0,0006!!!! :
It's comming the 2nd Resistance Point
http://www.barchart.com/quotes/stocks/INBG
WE ARE VERY GOOD!!
Nice buy 99379 and 100000 pieces 0,187
NICE NEWS!!
So 90 days from May 27th would be August 26th.
Don't be to late to buy this one!!
INBG is almost set to make a move. This is why I say that. An 8-K was filed with the SEC on May 27th, 2010. To sum it up, it stated that on May 25, 2010, the Company signed a non-binding Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company ("FHH Sino") located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importers/exporters in Weihai, a coastal city in Shandong Province of Northern China. According to a recent appraisal prepared by an accounting firm in accordance with China accounting standards, the Chinese company has net assets worth RMB 370 million (approximately US $54,000,000) and will generate annual revenues of RMB 100 million (approximately US $14, 000,000) after its completion of construction of Phase I and execution of rental contracts business in early 2011.
Then, at the bottom, it stated that INBG, together with its financial, legal and other advisors will need to complete customary due diligence including, but not limited to (i) meetings with management and site visits; (ii) receiving more detailed historical financial statements, including an analysis of fixed costs, variable costs, customer information and capacity utilization; (iii) reviewing the existing projections; (iv) reviewing the Company's business plan; (v) a detailed review of the balance sheet and profit and loss accounts; and (vi) a general corporate review, including a legal review of agreements, material contracts, leases, litigation and other matters; (vii) preparing a road map, business plan, prospectus and finish due diligence within 90 days from receipt of the initial payment.
____________________________________________________________________________________________________________________________________________________________________
So 90 days from May 27th would be August 26th. It might be too long for some people to wait but it is a good stock to keep on the radar
Interesting week for the KATX:
7. KATX: ($ .16) This will be an interesting week for the KATX. The stock is trading right in the middle of the range and closed right at its 50-day moving average. More importantly, TSW feels that KATX might challenge the downward trend-line at $.19 cents this week. A weekly close above this trend-line could send the stock back up to challenge the old highs of .25 cents. There may be a forward-looking event in the next couple of weeks. That should keep traders and investors interested.
http://www.themarketfinancial.com/thestockwizards-net-tsw-presents-its-top-10-penny-stocks-for-the-week-of-july-5th-2010/5846
And the netherlands wins from brasil
go katx! go holland!!! party here yeahhh
Nice buy 100K
DON'T BE TO LATE TO BUY THIS ONE!!! WOW!!
BIG NEWS STILL COMMING!! LONG!!
Go KatX!! Go
USA going to the 1/8 finale. Congratio..
Greetings, The Dutch man.
Dont be to late te get in!!
Not yet, but I will, why?
CURRENT REPORT INBG
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 27, 2010
INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada 0-32323 20-1217659
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
17800 Castleton Street, Suite 638, City of Industry, California 91748
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (626) 581-8500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2., below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-120
[ ] Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communication pursuant to Rule 13c-4(c) under the Exchange Act (17 CFR 240.133-4(c))
ITEM 8.01 OTHER EVENTS.
On May 25, 2010, the Company signed a non-binding Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company ("FHH Sino") located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importers/exporters in Weihai, a coastal city in Shandong Province of Northern China.
According to a recent appraisal prepared by an accounting firm in accordance with China accounting standards, the Chinese company has net assets worth RMB 370 million (approximately US $54,000,000) and will generate annual revenues of RMB 100 million (approximately US $14, 000,000) after its completion of construction of Phase I and execution of rental contracts business in early 2011.
FHH Sino is currently in construction of its Phase I and has completed all the foundation and infrastructure for its 8 storage tanks. This infrastructure includes the supporting facilities and pipeline connecting to the harbor, which is just 600 meters away from the storage facilities.
FHH Sino provides petroleum storage tanks for rental to petroleum companies such as Sinochem and Sino-Petro, as well as being engaged in the business of local fuel oil distribution. FHH Sino has its Phase II planned and has received official approval from the Chinese authorities for additional storage tanks of 450,000 m3 and expects to commence construction of Phase II in late 2011.
The Company and FHH Sino are working together on the related merger agreements and auditors have been engaged to commence an audit of FHH Sino in preparation for the merger.
The Letter of Intent is subject to (i) the execution of a mutually acceptable definitive merger or exchange agreements: (ii) there being no material adverse change in the financial condition, business or prospects of the Company prior to closing; (iii) final investment committee approval; (iv) local government and regulatory approvals; (v) extension of existing employment contracts for the Company's management; and (vi) and a guarantee of buy-back or exchange of common stock for preferred stock (not to exceed U.S. $2,300,000) currently held my the Company's officers or investors.
Upon signing of the Letter of Intent on May 27, 2010 (effective date), FHH Sino made a U.S. $230,000 good faith deposit with the Company.
A copy of our press release on this matter is attached hereto as Exhibit 99.1 and incorporated herein by reference.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits
10.1 Letter of Intent dated May 27, 2010, by and between International Building Technologies Group, Inc and FHH Sino New Energies Co., Ltd..
99.1 Press Release dated June 2, 2010
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DATED: June 2, 2010
INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
By: /s/ Kenneth Yeung
--------------------------------------------
Kenneth Yeung
President and Chief Executive Officer
3
EXHIBIT INDEX
Exhibit No. Description of Exhibit
----------- ----------------------
10.1 Letter of Intent dated May 27, 2010, by and between International
Building Technologies Group, Inc and FHH Sino New Energies Co.,
Ltd..
99.1 Press Release dated June 2, 2010
Exhibit 10.1
[INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC. LOGO]
May 25, 2010
FHH Sino New Energies Co., Ltd.
Rm. 1403, Zhong Xin Bldg.,
2 Qing Dao N. Road, Weihai
Shangdong Province, PRC 264200
Attn.: Mr. Peter Xiaoping Wang
Director/General Manager
Dear Sir,
Thank you for allowing International Building Technologies Group, Inc., a public OCTBB listed company in USA and its subsidiaries (hereafter referred to as "IBTGI"), the opportunity to evaluate a potential transaction with FHH Sino New Energies Co., Ltd., a Chinese company and or its holding company and subsidiaries, (hereafter referred to as the "Company"). Based on the information we have received to date, we are pleased to submit this preliminary non-binding Letter of Intent ("LOI") to acquire the entire or control amount of outstanding shares of the Company by exchanging IBTGI shares for the issued shares of the "Company" held by the Company's shareholders (collectively, "Selling Shareholders").
We propose to acquire all the existing shares at net book value of the "Company." The exact terms and conditions for the acquisition, including the exact number of IBTGI shares to be exchanged with the Selling Shareholders, will be negotiated with the Selling Shareholders. Our LOI is based on the limited information we have received as well as our assessment of the market opportunity. Our LOI is also based on the assumption that as of the closing of this transaction, the "Company" will have normal levels of working capital, as well as enough cash to pay off debts and accounts payables on IBTGI books (but not exceed US$1.5 millions) prepared by the engaged accountant of IBTGI in according to the GAAP principles of U.S. It is understandable that the "Company" will need to have audited financial statement prepared by US SEC approved auditors, registered with the Public Company Accounting Oversight Board ("PCAOB").
We do not anticipate any conditions of a substantive nature which will be required as part of the transaction other than those normal and customary for such transactions, which will include, but not be limited to, satisfactory completion of our due diligence and execution of an exchange contract acceptable to us and our legal counsel. Our proposal is subject to (i) the execution of a mutually acceptable definitive exchange agreements and related agreements containing representations and warranties, covenants, indemnities and other terms and conditions customary for transactions of this type; (ii) there being no material adverse change in the financial condition, business or prospects of the Company prior to closing; (iii) final investment committee approval; (iv) local government and regulatory approvals; (v) extension of existing employment contracts for IBTGI officers; (vi) Guarantee of Buy-back or exchange of common stock for preferred stocks (not exceed US$2.3 millions) that are currently held by IBTGI officers or investors.
INITIAL PAYMENT
Upon signing of this LOI, an initial payment of US$230,000 as the good faith deposit will be deposited into the assigned bank account of IBTGI (information of bank accounts as attached) by the Company to execute this LOI within 5 days to execute this LOI and to cover the expenses, costs and accounts payables that may occur during the transaction period. Such US$230,000 will be debited against debts and accounts payable on IBTGI book of not exceed the US$1.5 millions as stated above.
DUE DILIGENCE REQUIREMENTS
IBTGI, together with its financial, legal and other advisors will need to complete customary due diligence including, but not limited to (i) meetings with management and site visits; (ii) receiving more detailed historical financial statements, including an analysis of fixed costs, variable costs, customer information and capacity utilization; (iii) reviewing the existing projections;
(iv) reviewing the Company's business plan; (v) a detailed review of the balance sheet and profit and loss accounts; and (vi) a general corporate review, including a legal review of agreements, material contracts, leases, litigation and other matters; (vii) preparing a road map, business plan, prospectus and finish due diligence within 90 days from receipt of the initial payment.
IBTGI
IBTGI is a full reporting company listed on OTCBB since 2007 and meets all the compliances and regulations of US SEC. We believe that as soon as IBTGI satisfies the minimum equity, revenue requirement, as well the other requirements of qualification, IBTGI can move up to be listed on NASDAQ or AMEX main board, accordingly.
Our preliminary LOI is confidential and should not be disclosed to anyone except for both boards of directors and the advisors of our companies before it is executed. Furthermore, this is a preliminary LOI only and does not represent a binding offer on behalf of IBTGI.
We look forward to the possibility of working with your company and future growth. Should you have any questions regarding our LOI, please feel free to contact me at (626) 581-8500 or by email.
Yours truly,
International Building Technologies Group, Inc.
/s/ Kenneth Yeung
----------------------------------
Kenneth Yeung/CEO
Agreed and accepted by:
FHH Sino New Energies Co., Ltd.
/s/ Peter Xiaoping Wang
-------------------------------
Peter Xiaoping Wang
Director/General Manager
Exhibit 99.1
INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC. SIGNED A LOI TO ENTER INTO A MERGER WITH A CHINA PETROLEUM STORAGE FACILITIES COMPANY WITH PAID-IN CAPITAL OF USD8.8 MILLION AND ASSETS WORTH USD54 MILLION ACCORDING TO A RECENT APPRAISAL.
City of Industry, CA - June 2, 2010 - International Building Technologies Group, Inc. (OTCBB:INBG) announced today that it has signed Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company ("FHH Sino") located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importer/exporter companies in China. FHH Sino has made a good faith deposit of USD 230,000 with INBG to execute the signed Letter of Intent.
According to recent appraisal prepared by an accounting firm in accordance with China accounting standards, FHH Sino has net assets worth RMB 370 million (approx. USD 54 million) and will generate annual revenues of RMB 100 million (approx. USD 14 million) after its completion of construction of Phase I and execution of signed rental contracts business in early 2011.
Stated Kenneth Yeung, CEO of INBG, "INBG intends to merge with FHH Sino by exchanging INBG's common stock with FHH Sino's holding or subsidiary company. This merger will give INBG the opportunity to switch its nature of business into the energy sector, the ability to generate revenue and profit once the FHH Sino commences its operation in early 2011, thus benefits our shareholders in the near future. FHH Sino is currently in construction of its Phase I with petroleum storage capacity of 320,000 m3 (or approx. 11,300,000 cubic feet) and has completed all the foundation and infrastructure for its 8 storage tanks. This infrastructure includes the supporting facilities and pipeline connecting to the harbor, which is just 600 meters away from the storage facilities. Strategically, this merger will strongly support INBG's ability to connect with the energy market, the potential investors and strategic partners who are interested in participating to the energy sector in the most booming economic of the world, China, and throughout the world ."
About FFH Sino: FHH Sino New Energies Co., Ltd. is a petroleum storage company located in Weihai, a coastal city in Shandong Province of China. The company provides petroleum storage tanks for rental to petroleum companies such as Sinochem and Sino-Petro, as well as being engaged in the business of local fuel oil distribution. It has approved its Phase II planned storage tanks of 450,000 m3. FHH Sino will be one of the key players in the fuel storage facilities companies for the northern coastal cities of China after the completion of both Phases.
An 8-K along with a copy of the signed and executed LOI specifying all the terms and conditions of the transaction will be filed with the SEC shortly.
This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein.
Contact:
International Building Technologies Group, Inc. Patrick Donahoo
702 727 7668
Email: ir@ibtgi.com
Kenneth K Yeung
President and CEO
Peter Chin
Corporate Secretary
P.Chin was elected to the Board of Directors and appointed Corporate Secretary on May 30, 2007.
Industries: Consumer Goods | Business Services and Supplies
Roles:
CEO: Disability Access Corp
President, Secretary & CFO: PTS INC/NV/
Corporate Secretary: International Building Technologies Group, Inc.
See see all company filings?
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001143987
Peter Chin Insider Ownership
International Building Technologies Group, Inc. (Issuer) CIK: 0001075993
IRS No.: 201217659 | State of Incorp.: NV | Fiscal Year End: 1231
SIC: 7990 Services-Miscellaneous Amusement & Recreation
Assistant Director 5
BUSINESS ADDRESS:
STREET 1: 1151 HARBOR BAY PARKWAY
STREET 2: SUITE 202
CITY: ALAMEDA
STATE: CA
ZIP: 94502
BUSINESS PHONE: 510-814-3778
MAIL ADDRESS:
STREET 1: 1151 HARBOR BAY PARKWAY
STREET 2: SUITE 202
CITY: ALAMEDA
STATE: CA
ZIP: 94502
FORMER COMPANY:
FORMER CONFORMED NAME: MOTORSPORTS EMPORIUM, INC.
DATE OF NAME CHANGE: 20041206
FORMER COMPANY:
FORMER CONFORMED NAME: TEN STIX INC.
DATE OF NAME CHANGE: 20041203
FORMER COMPANY:
FORMER CONFORMED NAME: TEN STIX INC
DATE OF NAME CHANGE: 20010130
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: CHIN PETER
CENTRAL INDEX KEY: 0001143987
FILING VALUES:
FORM TYPE: 3
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-32323
FILM NUMBER: 08622337
BUSINESS ADDRESS:
BUSINESS PHONE: 7028788310
MAIL ADDRESS:
STREET 1: 3220 WESTLEIGH AVENUE
CITY: LAS VEGAS
STATE: NV
ZIP: 89102
International Building Technologies Group, Inc. ("Company") was incorporated as Ten Stix Inc. on January 10, 1996 under the laws of the State of Colorado to engage in the design, development and marketing of unique card games and other gaming products for the gaming industry. Ten Stix, Inc. changed its domicile from Colorado to Nevada in 2004. During 2004, the Company amended its Articles of Incorporation to change its name to Motorsports Emporium, Inc. in order to bring the name of the Company in
ine with its then new business focus, targeting motor sports enthusiasts. During 2004, the Company divested itself of all interest in Ten Stix Inc. and the gaming business. As a result in the change in control and new business focus of the Company occasioned by the events discussed below, the Company amended its Articles of Incorporation to change its name to International Building Technologies Group, Inc. in 2007. CHANGE OF CO