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Info from a TRT project in China:
The Jiangsu Shagang Blast Furnace Top Gas Pressure Recovery Turbine (TRT) for Power Generation project is to be implemented within the Jinfeng County, at northeast part of Zhangjiagang city of the Jiangsu Province, People’s Republic of China. The project is proposed to utilise the waste gas and pressure to be generated from the steel production processes of an existing hot roll workshop within the steel production area, and generate power with the installation of 3x12MW top pressure recovery power generation units. The electricity generated from the proposed project is expected to substitute about 160GWh of the power from the Jiangsu Grid, a sub-grid of the East China Grid, annually which would otherwise be generated from fossil-fuel fired power plants. The expected GHG emission reductions of the proposed project are 2,953,776 tCO2e during a 3x7 year crediting period.
I agree it is a concern. To be valued at $50-100 million without the true operating costs, business plan, knowledge of contracts, etc is truely surprising. Nevertheless, here we are. I don't see much pumping of this stock, I suspect that people with knowledge of what's going on behind the scenes are buying all they can. The uncertainties caused me to go ahead and get my initial investment out but I am greatly intrigued with the potential of the company. It may be that this company will get several TRT's going this next year and this will be a blockbuster. Or maybe it is an elaborate scam. Given the information in the Bios on the officers I suspect it's not a scam but that doesn't mean it can't go sour. I encourage you to keep looking into it. We need all the information and opinions we can get to sort out what's really going on.
The 70-80% is from the stockmasters report. If they were paid for the report I'd be immediately suspicious. Since they weren't paid then we need to turn to the industry to see where those figures come from. If all they have is operating expenses then I can see them making a return of 70-80%. What concerns me is the initial cost of setting up or buying the operation (s). I sense too much optimism in the reports because there needs to be an outlay of cash to buy the TRT's, we don't know what the terms of the financing are, there's are a lot of unknowns here. Someone is buying (up 250% since I got in) and I doubt that it's Ihubbers pushing this one up. I'm already riding free shares because of the unknowns but I do think this one will be going higher I've already PM'ed several people stating that I suspect by the end of next year it will be $15 a share. In the short run there's probably going to be ups and downs unless someone is constantly buying up all they can. Time will tell.
Hi petermic
The $1.23 value was probably set out in a contract such as "agree to buy 100,000 shares at the listing price on the close of business of November 4, 2007." Just like the .25 back in August for the President. It's simply being reported now.
Nice find morcash. While lawsuits take time the response to this might be seen more quickly in the stock price.
If one TRT is expected to bring in $7 million with a 70% profit margin then profits would be $4.9 million a year. If they have two TRT's then we're looking at about $10 million a year. With 17.15 million shares and a PE of 20 (modest for a growing company in China) the share price should be $11.66 PPS. I'm still looking for the catch but haven't found any. It looks like we have a winner. I'm I missing something? Constructive criticism appreciated.
Check this out:
http://www.thestockmasters.com/article-creg-092507.asp
China Recycling Energy Corp. is on the rise
China Recycling Energy Corp. (Public, OTC:CREG) has leaped 216% in the last 5 days and the big jumped happened on Monday (9/24). Now shares are just under $1 so is it too late to cash in on this fast moving OTC?
Long story made short -- No it's not too late.
Since we all have been trying to discover stocks which are using environmental friendly ways to produce electricity and can strengthen the independency of a country from the depleted fossil fuels especially oil, I'm all over China Recycling Energy (CREG) likes flies on trash. Who are they? CREG is a brand new company which invests in producing electricity from waste and recycling materials as raw materials. They belong in the same category as China Industrial Waste Management (CIWT) in terms of the cheap raw materials used at its production procedure. Does China Industrial Waste Management Inc. (OTC:CIWT) - China's Modern King of Waste Management bring back any memories?
Some well experienced Chinese engineers with major expertise in such production procedures teamed up to create this company and OTC dream stock away. Its power systems can generate electricity from systems called as TRT (blast furnace top pressure recovery turbine unit), CHPG (Recovery of cement residual heat), GTPG ( Gas turbine power generation) and CGGE (power generated by coal gangue). They sell the electricity to major consumers like steel industries or public facilities so there are always potential customers for their energy. Additionally they can manufacture customized power systems tailored to the needs of the users.
They are currently operating a TRT power system for a major steel company and they have been in discussion with other steel companies of the same sector for further expansion. A moderate estimate for the revenue from their first TRT power system above are planned to be about $7 million until 2012. Since their net profit margin is ranging from 70 - 80 % of the respective revenue as shown at their income statement, we can easily conclude about the annual net earnings generated by their first operational power system. The reason for the high margins as mentioned above is the cheap cost of revenue as we all understand -- it's garbage, trash is not expensive. So since the estimated earnings for 2007 should come in about $600,000 to $800,000, not bad.
Needless to say that the majority of the company is owned by the directors and the insiders which is a positive sign for the future growth of CREG from my perspective. As shown at the latest 13F form of SEC, the only institutional major holder is the American Fund of Pope Asset Management which has a success in picking up promising profitable small cap companies generally so this could provide a further credibility to the corporate quality of CREG.
Yes the stock has jumped big time in the last few days, but there's still money to be made here, so let's wait for a slight pull back.
Saw that. Almost no shares traded when it was down.
Of course, if they use .006 as the start point of tomorrows trading then we might have a 5000% day! LOL.
If you type "top pressure recovery turbine system" in on google images there's some real good examples of TRT's. I believe that CREG is focusing in on TRT's because they are so profitable and Hanqiao Zheng has worked on TRT projects before.
Images of TRT's can be found on google images. There are different types and different sizes. Some of these operations are huge. I should also note that TRT's are not the only types of projects that CREG is planning. From the SEC filing:
On May 10, 2007, the Board of Directors ("Board") of China Recycling Energy
Corporation ("registrant" or "we") decides in a board resolution that the
registrant officially changes its main business operations to energy saving and
recycling systems and services. The registrant's new business operations include
developing and constructing recovered energy power systems such as
TRT(Blast-Furnace Top Pressure Recovery Turbine Unit), CHPG (Power generation by
recovering cement residual heat without additional fuel), GTPG(Gas turbine power
generation) and CGGE(Comprehensive utilization of coal gangue generating
electricity);selling the electricity generated by the recovered energy power
systems to steel plants and other customers; constructing power plants on a
turnkey - EPC (Engineering, Procurement and Construction) basis for developers,
industrial users and public facilities; developing flexible, custom-tailored
ECO-Energy solutions that enable customers to quickly and easily improve energy
efficiency and educe fossil fuel consumption and Green House Gases emission.
The biggest problem I see is not the reverse split. It's the lack of information on exactly what China Good Electric is. If this is a profitable company with growth potential then the R/S may be a prelude to getting ready for an uplisting. Hopefully they are smart enough to put out a good PR with a website for info on it and let people know what they're all about.
Maybe there's something to that. If Norris gave away too many shares (per your post below)maybe he's the one trying to buy them back to ensure control of the company or maybe he needs the shares for a partner. I seem to recall some people saying that they had a hard time getting filled even on days when this stock was trading millions of shares. It certainly behaves strangely.
Posted by: dmbao
In reply to: rangeme0 who wrote msg# 3940 Date:10/24/2007 9:58:03 AM
Post #of 3978
Hard to know the facts about KING as nothing is disclosed.
The bottom line is that Norris Harris still believes he will be successful. I wish I could share his optimism but time will tell. He isn't even entertaining the idea of failure. He is still out looking for big deals and the financing of those deals. He is still paying the expenses of the company out of his pocket every month as he has for the past couple years.
The stock price is down here for one reason Norris Harris gave away 100 million shares for a trivial sum to someone who scammed him or so the story goes it wasn't intended to be a plain old dilution but a purposeful one to someone who was providing a significant finacing. Now Norris Harris may be delusional but he believes that those shares haven't been sold into the market place also he believes the transfer of 70 million of that 100 million has been stopped at the TA. Now this seems totally unbelievable to me as the volume we see has to come from somewhere so I think these shares have been sold.
Of course the TA could just provide all of this information and be done with it but for some reason that hasn't happened.
Perhaps they are being sold short against certs that will never come that could be a real problem for the seller as they might have to cover at some point.
I doubt that Norris can get these shares back and cancel them as he thinks he can as selling short against those is a pretty sizable risk at .002. I doubt they would take that risk.
I guess over time this story will be play out.
another interesting factor is who has bought all of these shares over the past few months. The core shareholders who have been around for a while say it wasn't them nor was it them selling?
Your research was so good it didn't leave anything else for us to say, LOL. Lots of Lurkers on this one.
Looks like someone's really liking the new filings. $2.30 PPS.
Very nice turn around. And it looks like the market agrees with your DD since AAPL is down while Burst is up. GLTA!
I called the company. Even though Hemacare Bio is listed as a "partner" on the website it can be viewed as a division structurally. As per the 8K they said they will be posting losses in the 3rd and 4th quarters from Hemacare Bio. The closing was done because they foresaw the loss of revenue would continue into the future and felt this was the best thing for the company and the shareholders. They expect that this will turn around next year.
No. The current President took over just a few months ago. My guess is that this won't be rolling strong for a while. In the meantime someone's been accumulating. This looks better for a long term hold than a short term flip. But when they do announce more TRT's the PPS will rise dramatically because they are highly profitable.
I think the real explosion will happen when they get permission/contracts to build more TRT's.
Yes I saw that. That's what the current President paid to buy the former President's shares. How they determined fair market value was not stated but probably based on this years earnings which will not be much given that there is only one TRT and it has just recently started. I've read two independent reports on CREG, one valued the company at $1.20 PPS and emphasized that value could change rapidly if more TRT's were brought into production, the other said between $1.50-2.00 PPS which is where the current PPS is, $1.70 the last I looked. IMO the real determination as to if this will grow into a blockbuster will be the current Presidents ability to get more TRT's up and running. It really boils down to how well he's connected over there.
It was a sell made earlier in the day and didn't get posted until after hours.
Nice find morcash. This has certainly been an interesting situation. Any idea how long they have to sell the rest?
Found this. Fairly certain this is the same company because the header not shown had LSLU in it.
Company Description
Contact Info
7425 Brighton Village Drive
Raleigh, NC 27616
United States
Phone: 919-538-2305
Fax:
-- La Solucion, Inc. provides daily assistance services to the non-English speaking Hispanic population in North Carolina. Its services include establishing ties and assisting its residents by providing services, such as language translation and the facilitation of the necessary processes and procedures related to banking; renting apartments, buying homes, connecting gas, power, water, and telephone for new residences; and getting auto, home, and medical insurance. The company’s services also comprise finding doctors, real estate agents, attorneys, and daycare; registering for classes at local schools, finding jobs, and filling out employment applications; gaining citizenship and filing tax forms; and buying a car, getting a drivers license, tags, and inspections on automobiles. La Solucion, Inc. was founded in 2005 and is based in Raleigh, North Carolina.
I've been able to confirm through SEC Reports that are new CEO has purchased 8,160,863 shares or 47.6% of the company. It looks like he has a lot of expertise with TRT's.
China Recycling Energy Corp. Announces Board Changes
08/24/2007
China Recycling Energy Corp. announced that Guohua Ku resigned from his positions in the Board and the offices of Company. Hanqiao Zheng was elected to be the President and the Chairman of the Board of Directors of the Company. Mr. Hanqiao Zheng, aged 49, graduated from Northwestern University of Agricultural and Forestry Technologies. He worked in the Weinan Municipal Government from 1982 to 1996 and afterwards served at a management position in Shaanxi Province Machinery Import/Export Co., Ltd. He is specialized in the management of TRT systems.
Interesting article. Notice that this is their first TRT. Wonder how many they will get going.
China Recycling Energy Corp. is on the rise
China Recycling Energy Corp. (Public, OTC:CREG) has leaped 216% in the last 5 days and the big jumped happened on Monday (9/24). Now shares are just under $1 so is it too late to cash in on this fast moving OTC?
Long story made short -- No it's not too late.
Since we all have been trying to discover stocks which are using environmental friendly ways to produce electricity and can strengthen the independency of a country from the depleted fossil fuels especially oil, I'm all over China Recycling Energy (CREG) likes flies on trash. Who are they? CREG is a brand new company which invests in producing electricity from waste and recycling materials as raw materials. They belong in the same category as China Industrial Waste Management (CIWT) in terms of the cheap raw materials used at its production procedure. Does China Industrial Waste Management Inc. (OTC:CIWT) - China's Modern King of Waste Management bring back any memories?
Some well experienced Chinese engineers with major expertise in such production procedures teamed up to create this company and OTC dream stock away. Its power systems can generate electricity from systems called as TRT (blast furnace top pressure recovery turbine unit), CHPG (Recovery of cement residual heat), GTPG ( Gas turbine power generation) and CGGE (power generated by coal gangue). They sell the electricity to major consumers like steel industries or public facilities so there are always potential customers for their energy. Additionally they can manufacture customized power systems tailored to the needs of the users.
They are currently operating a TRT power system for a major steel company and they have been in discussion with other steel companies of the same sector for further expansion. A moderate estimate for the revenue from their first TRT power system above are planned to be about $7 million until 2012. Since their net profit margin is ranging from 70 - 80 % of the respective revenue as shown at their income statement, we can easily conclude about the annual net earnings generated by their first operational power system. The reason for the high margins as mentioned above is the cheap cost of revenue as we all understand -- it's garbage, trash is not expensive. So since the estimated earnings for 2007 should come in about $600,000 to $800,000, not bad.
Needless to say that the majority of the company is owned by the directors and the insiders which is a positive sign for the future growth of CREG from my perspective. As shown at the latest 13F form of SEC, the only institutional major holder is the American Fund of Pope Asset Management which has a success in picking up promising profitable small cap companies generally so this could provide a further credibility to the corporate quality of CREG.
Yes the stock has jumped big time in the last few days, but there's still money to be made here, so let's wait for a slight pull back.
Article written by: Steve Reeves
Article posted on: September 25th, 2007
Disclaimer: The Author does not own any positions in the securities listed in this publication..
Need to update the quote media on top of the I-box to reflect the new symbol. Any word on what's going on with this one?
On the Eager report it says they should be considered as having no employees and what money was made looks like it was fronted by other companies. Looks like they are getting ready to enter the recycling business big time. If you google China and recycling you'll see that recycling is taking off real big in China, there's a good BBC report on it. I doubt that regular investors are pushing up the stock much. Probably people in the know over in China are the major buyers right now.
And more info:
Since January 2007, the Company has gradually phased out and substantially scaled down most of its business of mobile phone distribution and provision of pager and mobile phone value-added information services. For the six months ended June 30, 2007, the Company did not engage in any substantial transaction and activity in connection to these businesses. On May 10, 2007, the Company approved and announced that it completely ceased and discontinued these businesses. Accordingly, the results of the discontinued operations have been segregated from continuing operations in the statements of operations and cash flows for the six-month periods ended June 30, 2007 and 2006. The discontinued operations incurred an income of $33,299 and $204,199 for the six month periods ended June 30, 2007 and 2006, respectively and the basic income per share from discontinued operations was $0.00 and $0.01 for the respective periods. The income represented the write down of deferred revenue generated from the provision of pager value-added information services.
Net income from continuing operation in energy saving and recycling businesses
For the six months ended June 30, 2007, we recorded a net income of $242,143 received from our new operations in energy saving and recycling businesses. Compared to the first quarter of 2007 when we first started to engage in energy saving and recycling businesses, the net income from these new operations was increased by $ 139,219, due to the growth of our energy saving and recycling businesses.
Foreign currency translation gain
Foreign currency translation gain for the six months ended June 30, 2007 increased by $477,380 to $528,178 compared to $50,798 for the same period of the prior year, representing a 939.8% increase. The increase was mainly due to the continuous appreciation of RMB Yuan against US Dollars.
Comprehensive income.
We recorded comprehensive income of $803,620 for the six months ended June 30, 2007, a $704,770 increase in comprehensive income compared to comprehensive income of $98,850 for the same period of the prior year, representing an increase of approximately 712.97%. The increase in comprehensive income was attributable to (i) the revenues received from the direct financing lease related to the Company's continuing operation in energy saving and recycling businesses and (ii) the increase of foreign currency translation.
Net income from continuing operations per share
For the six months ended June 30, 2007, our net income from continuing operation per share was $0.01 compared to the $0.01 net loss from continuing operation per share for the same period of the prior year, representing a net increase of $ 0.02 per share. The increase in net income per share is attributable to the revenues and earnings received from our new operations in energy saving and recycling business.
And more info:
On March 8, 2007, the name of the Company was changed to "China Recycling Energy Corporation" and engages in recycling energy business, providing energy saving and recycling products and services. Consequently, the businesses of mobile phone distribution and provision of pager and mobile phone value-added information services were discontinued.
On May 10, 2007, the Company officially announced that it changed its main business operations to energy saving and recycling systems and services. The new business operations include developing and constructing recovered energy power systems such as TRT(Blast-Furnace Top Pressure Recovery Turbine Unit), CHPG (Power generation by recovering cement residual heat without additional fuel), GTPG(Gas turbine power generation) and CGGE(Comprehensive utilization of coal gangue generating electricity);selling the electricity generated by the recovered energy power systems to steel plants and other customers; constructing power plants on a turnkey - EPC (Engineering, Procurement and Construction) basis for developers, industrial users and public facilities; developing flexible, custom-tailored ECO-Energy solutions that enable customers to quickly and easily improve energy efficiency and educe fossil fuel consumption and Green House Gases emission.
In connection with the change of business operations, the Company has established a technical team that is composed of recognized experts and technicians specialized in the development and construction of energy saving and recycling systems.
Discussion and Analysis of Operating Results
Six months ended June 30, 2007 Compared to Six months Ended June 30, 2006
Discontinued Operation
Since January 2007, the Company has gradually phased out and substantially
scaled down most of its business of mobile phone distribution, advertising services and provision of pager and mobile phone value-added information services. On May 10, 2007, the Company approved and announced that it completely ceased and discontinued these businesses. For the six months ended June 30, 2007, the Company did not engage in any transaction and activity in connection to these businesses. Accordingly, the results of the discontinued operations have been segregated from continuing operations in the consolidated statements of operations and cash flows for the six-month periods ended June 30, 2007 and 2006. For the six months ended June 30, 2007, there was no sales revenue from product sales, product sales to related parties, and net information and advertising service revenue related to the discontinued operations and there was no cost of goods sold and cost of service related to discontinued operations, either. The discontinued operations incurred an income of $33,299 and $204,199 for the six month periods ended June 30, 2007 and 2006, respectively and the basic income per share from discontinued operations was $0.00 and $0.01 for the respective periods. This income represented the write down of deferred revenue generated from the provision of pager value-added information services.
Revenues from direct financing lease
Revenues for the six months ended June 30, 2007 were $397,277, which represents the revenue received from Xingtai under the direct financing lease.
Cost of Revenues
Total cost of revenue for the six months ended June 30, 2007 consists primarily of related business tax of 5% on revenues from direct financing lease between the Company and Xingtai. Total cost of revenue for the six months ended June 30, 2007 was $32,153.
Gross profit
After taking into account the cost of revenues, our gross profit for the six months ended June 30, 2007 was $365,124. The gross profit consists of the gross profits from the operation in the business of energy saving and recycling systems and services for the six months ended June 30, 2007.
General and administrative expenses
General and administrative expenses for the six months ended June 30, 2007 decreased by $79,796 to $76,471 compared to $156,267 for the same period of the prior year, representing a 51.1% decrease. The decrease was mainly due to the discontinuance of the business of mobile phone distribution advertising services and provision of pager and mobile phone value-added information services.
Interest income, net
During the six months ended June 30, 2007, the interest income derived from bank deposits decreased by $16 to $104, compared to $120 for the same period of the prior year.
Income from operations of discontinued components
They used to be a micro brewery. Then became a shell and this past year have been making a lot of deals. Here's where the deals start:
On February 1, 2007, the Company's subsidiary, TCH, entered into a TRT Project Joint-Operation Agreement ("Joint-Operation Agreement") with Xi'an Yingfeng Science and Technology Co., Ltd. ("Yingfeng"). Yingfeng is a Chinese company that is located in Xi'an, Shaanxi Province, China, and is engaging in the business of designing, selling, installing, and operating TRT systems and other renewable energy products.
Under the Joint-Operation Agreement, TCH and Yingfeng will jointly pursue a top gas recovery turbine project ("Project") which is to design, construct, install and operate a TRT system in Xingtai Iron and Steel Company, Ltd. ("Xingtai"). This project was originally initiated by a Contract to Design and Construct TRT System ("Project Contract") entered by Yingfeng and Xingtai on September 26, 2006. TCH provides various forms of investments and properties into the Project including cash, hardware, software, equipments, major components and devices. In return, TCH becomes entitled to all the rights, titles, benefits and interests that Yingfeng originally had under the Project Contract, including but not limited to the cash payment made by Xingtai on regular basis and other property rights and interests. TCH also entered direct financing lease with Xingtai. Under the direct financing lease, TCH provides various forms of investments and properties into the Project including cash, hardware, software, equipments, major components and devices to complete a TCH system and leases the TRT system to Xingtai with a term of five years. The total future minimum lease receivables under the direct financing lease are $ 6,781,863. In February and March 2007, the Company and TCH have taken several preliminary actions in preparation for the full pursuit of the Project, including selecting and purchasing necessary components and software for TRT system, organizing and training the technician team for the Project and developing the construction and installation plan for the TRT system. On April 08, 2007, the Board of the Company approved and made effective this Joint-Operation Agreement.
Curious that they list themselves as a shell but then have the website of China Digital Wireless.
Your prediction is almost 7/10ths true already. Need more people in on this to get good DD. So far I'm liking what I see. My time is limited right now, hopefully others can dig deeper into it.
I'm glad you're feeling better chuckermfla, and thanks for clearing things up. Like many others, I too have held on to my shares because there is still hope. I would like to see someone with Norris's experience be successful with what is probably his last big business deal. And I sure wouldn't mind riding along for some profits LOL!
Rangeme0
I was able to confirm that the O/S was increased 100 million and certainly there were large volumes being bought on the days you claimed you were buying. Some people have been in this stock for over a year and a half and have seen it pumped and dumped several times, so you can hardly blame them for being suspicious of a new person who comes in claiming new information no matter how accurate that information is. From what I understand several I-hub members checked on your confirmation numbers for the flight and the hotel for your meeting with Norris and found that they were cancelled. I did not check this myself but I find it difficult to believe that they were lying about that. For that reason many are still suspicious of what you say.
Concerning Tchauncy. I suspect, but have not been able to confirm, that the problems he had over on OMOG might be the reason he hasn't posted here. According to the OMOG thread he was sued for posting what he felt was wrong with what they were doing. Since he used to work for them this might have been a conflict of interest and he might have decided to not post on any stock that he has done business with. Or it could be that he just decided to not to say anything until he has something to say. Either way it is not his fault the PPS is down, it is the lack of performance on the company's part.
You accused Tchauncy of giving false hope, where did that hope come from? It came from the company, just like the rest of us who called up and then posted what we thought was good news only to see it not come true. On my original call to the company I was told for certain by June everything would get going, that meant the audit, the financing, the Vermillion-Capco deal, etc. Not only did it not happen but then I found out that KING didn't have the Vermillion lease, Capco owns it. Vermillion was my main reason for getting into this stock. After a month of phone calls I finally got through to them again and was told for certain by the end of September the financing would happen. That turned out to be another false statement. Had I posted what I was told would I have been giving false hope?
Because of the inconsistencies on the company's part I decided to not post anything else I found out about them unless I could get some independent confirmation on what was going on. I have heard both positive and negative things so I can say that there is still hope for the stock but it won't be the blockbuster we all hoped for. My $1 per share by next summer prediction disappeared with the Vermillion deal.
To wrap this up, if you are legitimate and did meet with Norris then I encourage you to both prove it and continue posting. We need as many eyes and ears as possible if we're to get to the truth. One question: you stated you took your loss. Does that mean you sold the 15 million shares you accumulated?
Thank you for the correction. The official posting I was referring to is only updated I believe every quarter and it is very possible for the company or someone who has control of the shares, like a financing organization, to dilute massively in a few months. It's unfortunate that there is dilution going on but it's a good sign that the company is trying to be honest about it and keep investors updated on their website.
O/S is 88.07 million according to the company.
Been following LNGT. Quite a ride.
SOYO looking really good!
Looks like good news. Thanks Hk.