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How are they staying afloat Copper? By diluting our investments by adding 200M shares in a month? That's not survival, that's a paycheck to keep Bickel in business at our expense. He's figured out a way to get to retirement on a healthy salary
It can not get any clearer then that. It's their words and they backed out on it. We are now a quarter later and not even one closing much less the three they were talking about. And they factored the economy into their equation. It's in black and white
Myth maybe you should go back and read these PR's closely and tell me why I'm not making sense:
From October 15, 2009:
Mr. Bickel also commented on the status of pending Redwood Capital reverse merger transactions.
"Our focus has been primarily on the business of Redwood Capital and making certain that the current clients can successfully achieve listings in Western financial markets," he stated. "We feel very strongly that these are quality clients whose transactions will successfully close, but given the major upheaval in U.S. and world financial markets, there has been a delay for these clients. We are now looking for two of the transactions to close by the end of the calendar year.
"We believe that our shareholders understand the importance of our focus on successful closings for Redwood Capital clients, since that is where the value for S3 stockholders is ultimately created. We will take the opportunity to update the closing schedule wherever possible as these transactions develop further," Mr. Bickel added.
Redwood Capital participated in a transaction involving Dalian Chuming, a premier processor and supplier of fresh and prepared pork products in Dalian, China. Energroup Holdings Corporation, a Nevada corporation, acquired all of the issued and outstanding capital stock of Precious Sheen Investments Limited ("PSI"), a British Virgin Islands corporation and parent company of PRC-based Dalian Chuming.
Redwood Capital was issued 428,095 shares of ENHD as the equity portion of its payment for advisory services provided for the transaction. Institutional and accredited investors participated in a $17.0 million private placement with Energroup Holdings Corporation, paying $4.40 per share for their positions. At the placement price, the value of Redwood Capital's equity position would exceed $1.8 million.
In the most recent financial results for Energroup Holdings Corporation, it reported that through its direct and indirect subsidiaries known as Chuming, supermarket and franchise stores drive sales 57.8% up for the first six months of 2008 versus prior year and that net income increased 70% to $9.9 million with EPS of $0.47 for the 6 months ended June 30, 2008. Additional details of the financial report can be found in a press release issued by Energroup Holdings Corporation on September 3, 2008 and in the quarterly report filed with the Securities and Exchange Commission on September 2, 2008.
To sign up to receive information by email directly from S3 Investment Company when new press releases, investor newsletters, SEC filings or other information is disclosed, please visit http://www.s3investments.com/investors/.
About S3 Investment Company
S3 Investment Company, Inc. (http://www.s3investments.com) is a holding company with two subsidiaries doing business in the China market. S3 holds a 100% equity interest in Redwood Capital (http://www.redwoodcapinc.com), which assists private Chinese companies in accessing U.S. capital markets by utilizing a network of investment banking relationships to achieve reverse merger transactions, and a 51% equity interest in SINO UJE (http://www.sinouje.com), a non-stocking distributor of medical and industrial high-tech products to markets throughout China.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.
Contact:
Contact:
For S3 Investment Company
Gemini Financial Communications, Inc.
A. Beyer
(951) 677-8073
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Source: S3 Investment Company
DANVILLE, CA--(MARKET WIRE)--Oct 22, 2008 -- S3 Investment Company, Inc. (Other OTC:SIVC.PK - News) and its wholly owned Redwood Capital subsidiary, which assists private Chinese companies in accessing the U.S. capital markets through reverse mergers into public companies, today announced that a Redwood Capital reverse merger client is currently in the closing process and the transaction is expected to close in the near future as previously announced by the company.
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The company recently announced that it expected two current Redwood Capital clients to participate in successful reverse merger transactions and enter the U.S. public markets before the end of the 2008 calendar year.
"Our focus at this time is to bring the first of our pending Redwood Capital transactions to a close," stated S3 Chairman and Chief Executive Officer Jim Bickel. "Closing two transactions before the end of the calendar year, given the current condition of the global financial markets, would be quite an achievement, but we believe that it may be possible."
DANVILLE, CA--(MARKET WIRE)--Dec 3, 2008 -- S3 Investment Company, Inc. (Other OTC:SIVC.PK - News) today issued comments on conditions in the China market and the $586 billion stimulus plan recently launched by China's central government. Despite a global economic slowdown, China's economy is still expected to grow in the coming quarters, and the stimulus plan is expected to provide additional capital on domestic projects and spur consumer spending.
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"On November 9th, Beijing initiated the stimulus package, which is planned to boost growth through heavy spending over the next two years on construction, tax cuts and aid to the poor. About $586 billion is to go into housing, infrastructure and post-earthquake reconstruction in China over the next two years, which Redwood will benefit directly as many of our clients benefit. There will also be significant cuts in company tax and banks will be allowed to lend more to projects involving rural development and technical innovation. The government also promised a shift to a 'moderately easy' monetary policy. All of the current clients of Redwood will benefit from this stimulus package and we're excited for our investors," stated Jim Bickel, CEO of Redwood and its parent, S3 Investment Company.
"Despite slower rates of growth, China's economy still recorded a 9% increase in the last quarter, and the government stimulus program should help to maintain strong growth," commented Matthew Totty, Director of Research for Redwood Capital. "We maintain a very positive outlook on China domestic driven companies. We believe that China's economic future is very bright and look forward to closing the transactions we now have in process as well as expanding the pipeline of clients for our Redwood Capital subsidiary. Despite the U.S. market, we are still closing deals and funding companies in China this quarter.
I understand reverse mergers. I also understand China has a strong economy in comparison to our country and the rest of the world. I also understand and pasted the PR where S3 stated the economy was not a factor with the two to three closings they were planning. However they changed the way they do the closings which didn't happen over night so we were misled. They misled us on getting off the pinks. What next? Will they tell us they are becoming an energy company leasing land in Wyoming for the oil in the shale? So far they have stepped all over themselves and it's time for Bickel to be honest.
Karin I like your optimism and hope you're right and I'm wrong
I'll respect you for your opinion but I do not agree. Blaming the Chinese market is barking up the wrong tree.
I hope you are right for everyone's benefit here
Karin they have fallen on their face. ENHD is their lone success which took a year. They failed at the three closings by the end of 2008, they failed at getting off the pinks. They failed with SINO. They haven't proven to be transperant yet until they file again. They have one success. And that is ENHD. Everything else has been fluff. They keep printing off shares the the US mints. They are failing the shareholders big time. Two years ago when the economy was forecasted to grow by 2% the market went crazy. China is forecastin 5-8% this year and we are blaming that for S3's not closing like they promised. I strongly disagree with you
C'mon myth they've fallen flat on their face with everything so far. Now everyone is digging for excuses for them. The bottom line is if our economy was growing at the pace theirs is we would be ranting and raving at how good we are doing. So they slip a little but they are still growing. No excuses for Bickel or S3. They flat out failed so far.
I agree. It's one surprise after another with no truthfulness behind what they say. Their lack of money to get off the pinks was a smoke screen. Why should they when they have a license to kill on the pinks. I'm beginning to agree I won't get back my investment and I have not averaged down as I don't see the recovery yet. If it looks to go up I'll average up. Another test (Of which they've failed them all so far) is if they do stay transparent on the pinks.
That shouldn't be a surprise the way they do business. They knocked our socks off last time would you expect different? I'm betting this will get to three billion at one point unless they do another reverse split. JMO
Kickin' butt today. So far about .0003% of the O/S have traded for $3.5!
The closing being the most important. I don't see a stop sign as being that critical. Similar to people buy stocks of companies who file BK. The closing is everything at this point. Hopefully the spike in the pps will sustain and not drop back creating a trader's stock.
Since receiving the two PR's we've lost on the pps?? Go figure
Lets hope so. Last itme I was there, there were a lot of empty buildings (nice buildings) built for the growth. Of course a lot of the buildings were built by Japanese. But from what a Government employee told me is they learn from the Japanese. But all in all the construction business should be great. Besides they may move into India since India's construction and infrastructure has a lot to be desired.
I never mentioned anything about anyone buying stock. I merely pointed out that yesterday's news as good as it was didn't do anything for the pps. Yesterday's pop fas a facade and we paid for it today. But never do I recommend or discourage anyone from buying this stock or any other.
It sucks when we give it all back in one day after good news.
Too much pressure to keep it at .0007.
It's supposed to work on volume driving the pps not a measly 15,000 share trade at the end of the day accounting for almost a 100% jump. More than likely it will fall back tomorrow since the last trade was a bogus trade. IMO
Someone did a good job painting the tape. Bout time it went in our favor
I suppose for hope that they can make it happen. I am not selling at these prices. I will hold and watch
And then they said they do not plan to uplist. How can you not plan to do something if they never had intentions to do so. Sometimes it's not what is said but what is not said and reading between the lines.
But what and how are they spending the money? We may never know if they aren't complete with their filings. And being on the pinks they can include or omit what ever they want.
That was before my time so I missed out on the fun
It pays their salaries at our expense. The nature of the pinks. It'll be interesting to see if they file like they say they intend too. Or if it will be 6 months after the fact with little data. Something tells me that is another smoke screen coming our way
How can you say that? Read it again. A company doesn't post a PR like that and then submit data to the SEC to get off the pinks if they aren't telling us they are going to uplist? That was their goal which they now say they aren't going too until later. Why would they tell us they were holding off on uplisting if they had no intentions to uplist? They missed their target plain and simple.
Keep in mind there is still room to drop more.
Very well stated. You made it sound better than did I
You are correct!
And per IR they don't either.
The S1 cost is minimal in comparison to what it does to sahreholders who see it as a plus and buy shares that were cranked out at a high rate and probably still are for all we know.
I have not been in this stock a long time like others, but what I read is they never follow through with what they say. And since taking a position in this stock they have not come through with one item they said they would from closings to uplistings and dividends. They are striking out in my opinion. I hope for the best but time will tell and so far time has drug this one to its knees.
Thanks for correcting my error. You are right.
The last count went from 400K to a little over 1.5B which caught everyone by surprise.
Karin I am wondering if SIVC is telling us the truth. In one PR they state the economic climate in China is having no effect on their business and this was around the time they were talking a possibility of 3 closings by the end of the year. And now that they have missed it altogether they want to blame the China economic situation which is still positive. I think they are speaking from both sides of their mouths and now wonder if they have anything going on other tha paying their salaries at the expense of dilution? The same for the uplisting. That seems to be a real joke too. To say they want to do it later seems like a smoke screen to me.
And obviously the street seems to take the same view. One only has to look at the drop in pps to see all isn't well in SIVCville. We hit .0005 today which is probably our next end point before going to .0001 which intermediate stops in between. JMO
In my opinion based on history that is a pipe dream. I don't see them retiring any shares. I see them creating shares. JMO
I am holding shares just not adding any.
I really hope you are right and I'm wrong for everyone's sake
Indy I wish you the best.
Agreed. But then I think that's that's true of most companies even though they will say different. I think the main thing about a reporting company is to say what they'll do and do what they say so as to not disappoint the street
Karin if that's the case shame on Bickel for not knowing the costs when going into it. That is a direct reflection on his lack of knowledge of the market in general IMO. Not what I would call even a poor leader much less mediocre. He should have known every cost, the fact that it's hard to run it through the first time, why he hired help to get S3 uplisted, and if he ever had any intentions of doing so or was it a smoke screen. After all without transparency he can print another billion shares to sell to cover the cost. reverse splits don't hurt him since he can keep awarding himself more shares. I don't think he'll report or be transparant. Why should he when that's a reason to stay on the pinks. My guess is next we hear on O/S we'll be over 2 billion.
In closing I don't think he cares about shareholders. He wants to fund his retirement and weekly pay check. JMO I can only hope I'm wrong but common sense tells me no way!
Karin CA said
"Filing of the S1 showed intent to become a transparent company. Missing the table in the S1A created the need for another filing coupled with more expense which must have got them thinking about the continuing expenses of uplisting???
Staying a pink doesn't bother me IF they continue reporting. I found something interesting last night."