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HC Int'l ! Nice catch morokoy! Wowjoint has been doing well as-is, but yes having a real IR is excellent news.
The news just keeps coming; now it looks like Wowjoint has hired a CFO with good experience here in the U.S. (read as U.S. Investor Friendly).
And as of today, I'm almost teary-eyed to say that virtually all of the intrinsic value gap has been erased in the past few days. It would appear that there's investment appetite for the warrants possibly in lieu of the very thin common. A NASDAQ listing would eliminate some of that illiquidity, but it's looking more and more likely to me that the common is going to make a run at 10+, market willing.
CFQWF - these warrants for Wowjoint (nasdaq filing pending) have been moving up nicely, hitting a 52wk high today. Still substantially below current intrinsic valuation, with plenty of catalysts yet to come.
Malc, It's great that you have a strategy and are sticking to it. Wowjoint seems to be on the glide path for success. Let's hope it continues.
bluesky - will do. Be safe.
Gary/Glen - very exciting news, and nobody is more deserving. Your integrity is top-notch, and will continue to be richly rewarded.
CWBYF - Imagine my surprise to see that they are STILL working on the Colorep transaction.
I'm half excited, half disappointed. Could be a 25-50 bagger if the deal is consummated, but sheesh how long does it take? The half-disappointed side of me wants SOMETHING to happen with this deal (i.e. cancellation or finalization) so that they can move on with their cash hoarde and tax-loss carryforwards and find another deal.
But for now, we're still in the dark until at least May (20F filing)...
Carthew Bay Technologies Announces Next Annual and General Shareholder's Meeting
TORONTO, March 15, 2010 (GLOBE NEWSWIRE) -- Carthew Bay Technologies Inc. (OTCBB:CWBYF - News) (the "Company" or "CBT"), formerly Astris Energi Inc., announced today that it will hold its next Annual Shareholder's Meeting ("ASM"), at which will be presented the financial statements covering the periods up to December 31, 2009, by latest June 15, 2010. The financial statements for the 2007 and 2008 financial periods have been public for some time.
"Given the limited resources of the Company, the numerous changes made to the proposed Colorep transaction over the past 2 years, and the lack of other material activity in CBT during this period, the Company has delayed the holding of an ASM," said Michael Liik, CEO of CBT. Mr. Liik went on to say that "Even though negotiations with Colorep regarding our convertible debenture investment continue to advance, we did not want to delay further the holding of an annual shareholders meeting."
About Colorep and Transprint USA
About Colorep, Inc.
Colorep, Inc. (www.colorep.com) is a leader in subsurface printing and fabric dyeing technologies, providing products and services to the promotion, apparel, commercial furnishings and home decor markets. Colorep provides these services to companies through its wholly-owned subsidiary, BetaColor LLC, its printing applications division and through the licensing of its technology to manufacturers in these addressable markets. Colorep's technology encompass a range of advances in the coloration and decoration of fabrics, vinyl, plastics, and coated metals. Its AirDye(TM) technology introduces coloration of fabric without negative environmental impacts.
About Transprint USA, Inc.
Transprint USA, Inc., a wholly-owned subsidiary of Colorep ("Transprint") (www.transprintusa.com), is a leading supplier of transfer-printing paper for decorating polyester, polyester rich substrates and certain other synthetic materials. With a design library of over 12,000 designs, Transprint is a leader in design choice and innovation. Transprint's products include Transwide(TM), a patented, exclusive product providing transfer-printing paper up to 126" (320cms) and Transeeze(TM), a release paper product for the printing of vinyl and other plastics. Transprint supplies its worldwide customer base through a direct sales force and agents located in a number of foreign countries.
Carthew Bay Technologies Announces Next Annual and General Shareholder's Meeting
TORONTO, March 15, 2010 (GLOBE NEWSWIRE) -- Carthew Bay Technologies Inc. (OTCBB:CWBYF - News) (the "Company" or "CBT"), formerly Astris Energi Inc., announced today that it will hold its next Annual Shareholder's Meeting ("ASM"), at which will be presented the financial statements covering the periods up to December 31, 2009, by latest June 15, 2010. The financial statements for the 2007 and 2008 financial periods have been public for some time.
"Given the limited resources of the Company, the numerous changes made to the proposed Colorep transaction over the past 2 years, and the lack of other material activity in CBT during this period, the Company has delayed the holding of an ASM," said Michael Liik, CEO of CBT. Mr. Liik went on to say that "Even though negotiations with Colorep regarding our convertible debenture investment continue to advance, we did not want to delay further the holding of an annual shareholders meeting."
About Colorep and Transprint USA
About Colorep, Inc.
Colorep, Inc. (www.colorep.com) is a leader in subsurface printing and fabric dyeing technologies, providing products and services to the promotion, apparel, commercial furnishings and home decor markets. Colorep provides these services to companies through its wholly-owned subsidiary, BetaColor LLC, its printing applications division and through the licensing of its technology to manufacturers in these addressable markets. Colorep's technology encompass a range of advances in the coloration and decoration of fabrics, vinyl, plastics, and coated metals. Its AirDye(TM) technology introduces coloration of fabric without negative environmental impacts.
About Transprint USA, Inc.
Transprint USA, Inc., a wholly-owned subsidiary of Colorep ("Transprint") (www.transprintusa.com), is a leading supplier of transfer-printing paper for decorating polyester, polyester rich substrates and certain other synthetic materials. With a design library of over 12,000 designs, Transprint is a leader in design choice and innovation. Transprint's products include Transwide(TM), a patented, exclusive product providing transfer-printing paper up to 126" (320cms) and Transeeze(TM), a release paper product for the printing of vinyl and other plastics. Transprint supplies its worldwide customer base through a direct sales force and agents located in a number of foreign countries.
Common picked up a 7.50 bid today after the Roth conference presentation, so the warrants are now "only" about 66% away from intrinsic.
Warrants are continuing their slow ascent. Wowjoint's Roth presentation begins right now.
CCME - should be an exciting release.
BSPM - Profiled today by newsletter, paints an incredibly bullish story with targets well into the low-to-mid teens, built around the eventual uplist and gaudy growth rates.
Happy to be in it in the high 3's.
CFQWF/CFQCF - Traderfan, here's a post showing some #'s:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=45381182
Looking for at least .75/sh, but that's conservative.
CFQWF - presenting at Roth. These guys are on top of it...gonna be a good one imo, plus CFQWF are actually the warrants for CFQCF, and are significantly below intrinsic.
China Fundamental Acquisition Corporation to Present at Roth Capital Conference
BEIJING, China, March 12 /PRNewswire-Asia/ -- China Fundamental Acquisition Corporation (OTC Bulletin Board: CFQCF, CFQWF, CFQUF) ("China Fundamental") announced today that they will present at the ROTH Capital Partners 22nd Annual OC Growth Stock Conference, at the Ritz Carlton, Dana Point, California. China Fundamental's Amy Kong, Senior Vice President of Capital Markets, will present at 11:30 a.m. PT, March 15, 2010 in Track 4. Management will also be available for one-on-one meetings throughout the conference. Interested parties may schedule meetings through their Roth representative. Registration is mandatory.
Management will discuss its recent business combination with Beijing Wowjoint Machinery Co., Ltd. and its associated companies (collectively, "Wowjoint"). Wowjoint is a market leader in the design, engineering and manufacturing of customized infrastructure equipment and machinery used in the construction of railways, highways, bridges, and viaducts.
China Fundamental has filed an application to list its common stock, warrants and units on the NASDAQ Global Market subsequent to the acquisition. The Company is also in the process of changing its name to Wowjoint Holdings Limited. During the application review process, the Company's stock will continue to trade on the Over-the-Counter Bulletin Board pending NASDAQ's approval.
China Fundamental Acquisition Corporation to Present at Roth Capital Conference
BEIJING, China, March 12 /PRNewswire-Asia/ -- China Fundamental Acquisition Corporation (OTC Bulletin Board: CFQCF, CFQWF, CFQUF) ("China Fundamental") announced today that they will present at the ROTH Capital Partners 22nd Annual OC Growth Stock Conference, at the Ritz Carlton, Dana Point, California. China Fundamental's Amy Kong, Senior Vice President of Capital Markets, will present at 11:30 a.m. PT, March 15, 2010 in Track 4. Management will also be available for one-on-one meetings throughout the conference. Interested parties may schedule meetings through their Roth representative. Registration is mandatory.
Management will discuss its recent business combination with Beijing Wowjoint Machinery Co., Ltd. and its associated companies (collectively, "Wowjoint"). Wowjoint is a market leader in the design, engineering and manufacturing of customized infrastructure equipment and machinery used in the construction of railways, highways, bridges, and viaducts.
China Fundamental has filed an application to list its common stock, warrants and units on the NASDAQ Global Market subsequent to the acquisition. The Company is also in the process of changing its name to Wowjoint Holdings Limited. During the application review process, the Company's stock will continue to trade on the Over-the-Counter Bulletin Board pending NASDAQ's approval.
Key resistance here at $4; it's going to take some good volume to push through and hold.
Some buzz on Korean banks, which is what NHR will become if the merger goes thru...
Hanmi Bank (HAFC) Largest In Terms Of Assets; Rumors Abound On Investments From Another South Korean Bank
http://finance.yahoo.com/news/Hanmi-Bank-HAFC-Largest-In-twst-4235314746.html?x=0&.v=1
CO - China Cord Blood Started At Buy By Roth Capital >CO
Last update: 3/11/2010 7:31:53 AM
Didn't see a price target unfortunately.
CO - China Cord Blood Started At Buy By Roth Capital >CO
Last update: 3/11/2010 7:31:53 AM
Didn't see a price target unfortunately. Very thin stock though, so could be a good one to watch.
20F filed; didn't see anything too interesting at first-glance, but I need to read a bit more closely:
http://sec.gov/Archives/edgar/data/1429360/000114420410012384/0001144204-10-012384-index.htm
banks are starting to get investor dollars again, but you're right, there's more risk than usual to get this to pass. It could be why the warrants are so juicy.
the one thing your'e missing in your NHR warrant mention is that for each NHR warrant you own, you're getting 3 PFCF warrants at a 2.44 strike for each.
PFCF is currently at 3.25, which is right where the valuation of the deal is set, so a strike of 2.44 is about .80 in the money right now. multiply that by 3 and you get $2.40 worth of value for every .30 you pay for a warrant. hmmmmm
but you're right - these warrants are priced as if there's no way the deal is going thru. reminds me of TMI warrants at their low :-x
CCLWF vs. CFQWF
rato - if you like CCLWF, which I also like, then you might just love CFQWF.
might be worth a look, especially w/ NAS GLOBAL MKT uplist in the works.
NHR 6K filed, indicating among other things that they're going to convene meetings designed to help NHR shareholders and prospective shareholders vote FOR the combination with PFCF.
http://sec.gov/Archives/edgar/data/1420413/000104746910001923/0001047469-10-001923-index.htm
PFCF S-4 filed; this transaction truckin' right along...
It's a big file - haven't read much, but looks like the terms for the warrants look unchanged.
http://sec.gov/Archives/edgar/data/1423869/000104746910001879/a2197050zs-4.htm
Another 9% owner just filed:
http://sec.gov/Archives/edgar/data/1420413/000114420410012021/v176651_sc13d.htm
China Cord Blood Corporation Reports Financial Results for Third Quarter and First Nine Months of Fiscal 2010
Revenue up 23.5% to RMB68.9 Million
New Subscriber Additions 19.6% Higher
Conference Call to be Held at 8:00 am ET March 5, 2010
Press Release Source: China Cord Blood Corporation On Friday March 5, 2010, 6:00 am EST
HONG KONG, March 5 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation ("CCBC" or "the Company") (NYSE:CO - News), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced unaudited financial results for the third quarter and first nine months ended December 31, 2009.
Highlights
-- Net revenue in the third quarter of fiscal 2010 increased 23.5%
year-over-year to RMB68.9 million (USD10.1 million) from RMB55.8
million in the third quarter of fiscal 2009.
-- New subscriber sign-ups during the third quarter of fiscal 2010
increased 19.6% to 11,771 subscribers from 9,842 in the third quarter
of fiscal 2009.
-- Net income attributable to shareholders in the third quarter of fiscal
2010 increased 56.3% to RMB20.0 million (USD2.9 million) from RMB12.8
million year-on-year.
-- Net revenue in the first nine months of fiscal 2010 increased 38.5% to
RMB190.7 million (USD27.9 million) from RMB137.7 million last year.
-- New subscriber sign-ups during the first nine months of fiscal 2010
increased 36.1% to 33,523 subscribers from 24,631 in the first nine
months of fiscal 2009.
-- Net income attributable to shareholders for the first nine months of
fiscal 2010 increased to RMB33.0 million (USD4.8 million) compared to
RMB0.6 million in the first nine months of fiscal 2009.
-- On February 24, 2010, CCBC entered into agreement to acquire an
effective interest of 19.92% in the Shandong Cord Blood Bank ("SCBB"),
the exclusive cord blood bank operator for the Shandong province in
China. Inclusive of the latest acquisition, the Company has gained
exclusive strategic access into the Beijing municipality, Guangdong
province and Shandong province, namely three of the six licenses issued
by Ministry of Health of China. China Government adopts one license
per region policy which means license holder will be the exclusive
operator providing cord blood services in these markets.
Summary - The quarter and nine months ended December 31, 2009 and 2008
Three Months Ended Nine Months Ended
December 31, December 31,
2009 2008 2009 2008
USD('000) RMB('000) RMB('000) USD('000) RMB('000) RMB('000)
Revenue 10,095 68,905 55,795 27,941 190,731 137,730
Gross Profit 7,644 52,178 42,234 20,526 140,116 101,994
Operating
Income 3,676 25,093 24,880 10,590 72,292 58,615
Non-GAAP
EBITDA 4,320 29,485 27,362 12,627 86,196 64,450
Net Income
Attributable
to China
Cord Blood
Corporation
Shareholders 2,930 20,001 12,837 4,841 33,048 576
EPS Attributable
to Ordinary
Shares
- Basic
(USD/RMB) 0.05 0.31 0.11 0.06 0.44 (0.32)
Non-GAAP EPS
Attributable to
Shareholders
- Basic
(USD/RMB) 0.05 0.31 0.22 0.13 0.88 0.01
Revenue
Breakdown (%)
Processing Fee 81.4% 85.2% 82.2% 84.0%
Storage Fee 18.4% 14.1% 17.3% 15.1%
New Subscribers
(persons) 11,771 9,842 33,523 24,631
Accumulated
Total Number
of Subscribers
(persons) 117,583 74,013 117,583 74,013
"This is a very exciting time," said Ms. Ting Zheng, China Cord Blood Corporation's chairperson and chief executive officer. "We concluded the third quarter with remarkable results with record breaking new subscribers numbers. The robust performance reflected the team capabilities to deepen market penetrations in our existing markets in an effective, efficient and lucrative manner. Leveraging the rising acceptance of umbilical cord blood banking, China's single child policy and our dominant market presence, we expect our business will continue to flourish and we should capture a growing number of new subscribers."
"Also, our Group has made tremendous progress to expand our geographical reach following the recently announced Shandong acquisition. By acquiring a 19.92% equity interest and the right of first refusal, we open the doorway into Shandong province, which has approximately 1.1 million babies per annum. Together with our local partner, we will seize this opportunity and deploy our resources and market expertise to rapidly build out a significant presence in this affluent region of China. Beijing, Guangdong and Shandong together have a market size of 2.1 million new born babies per annum."
Third Quarter Fiscal 2010 Financial Results
Net revenue for the third quarter of fiscal 2010 increased 23.5% to RMB68.9 million (USD10.1 million) from RMB55.8 million in the third quarter of fiscal 2009. Net revenue generated from processing fees increased 18.1% year-over-year to RMB56.1 million (USD8.2 million), tracking a 19.6% increase in new subscribers to 11,771 from 9,842 from last year. Net revenue from storage fees increased 60.8% year-over-year to RMB12.7 million (USD1.9 million) from RMB 7.9 million on the back of a 58.9% increase in the total subscriber base to 117,583 subscribers, compared to 74,013 subscribers last year. Processing fees and storage fees for the third quarter of fiscal 2010 accounted for 81.4% and 18.4% of net revenue, respectively, compared to 85.2% and 14.1% for the prior year period.
For the third quarter of fiscal 2010, gross profit increased 23.7% to RMB52.2 million (USD7.6 million) from RMB42.2 million in the prior year period, due primarily to rising new subscriber numbers. The 75.7% gross margin was similar to the same period last year.
Sales and marketing expense was RMB10.4 million (USD1.5 million) in the third quarter of fiscal 2010 compared to RMB6.6 million for the prior year period. Third quarter sales and marketing expense as a percentage of revenue was 15.1%, up from 11.9% last year but similar on a quarter-on-quarter basis.
Administrative expense increased to RMB16.7 million (USD2.4 million) compared to RMB10.7 million in the prior year period in light of the Group's business expansion and the commencement of the new Beijing and Guangdong facilities and the increase in corporate overhead.
Operating income for the third quarter of fiscal 2010 was RMB25.1 million (USD3.7 million) compared to RMB24.9 million for the same period last year. Operating margin for the quarter was 36.4% compared to 44.6% in the prior year period. The decline in operating margin was largely attributable to the commencement of new Beijing storage facilities in April 2009 and the increase in administrative expense, related to legal and professional fees associated with being a newly public company.
Non-GAAP EBITDA in the third quarter increased 7.8% to RMB29.5 million (USD4.3 million).
Net income attributable to shareholders for the third quarter of fiscal 2010 increased 56.3% to RMB20.0 million (USD2.9 million) from RMB12.8 million for the prior year period. Net margin for the third quarter of fiscal 2010 increased to 29.0% from 23.0% in the prior year period.
Basic earnings per share and fully diluted earnings per share for third quarter of fiscal 2010 were RMB0.31 (USD0.05) and RMB0.29 (USD0.04), respectively.
Non-GAAP EPS for the third quarter amounted to RMB0.31 (USD0.05), up from RMB0.22 in the prior year period.
As of December 31, 2009, the Company had cash and cash equivalents of RMB386.1 million (USD56.6 million), compared to RMB161.4 million as of March 31, 2009.
Ms. Ting Zheng continued, "Adding the Shandong cord blood bank license, we now have direct access into the top three regions licensed for cord blood banking services. The acquisition of the Shandong cord blood bank illustrated our execution capabilities beyond Beijing and Guangdong regions, and more importantly, it is a recognition of the Company as the market leader in the industry. This will pave the way for future corporate developments in China and the Asia Pacific region."
Nine Months Fiscal 2010 Financial Results
First nine months of fiscal 2010, net revenue increased 38.5% to RMB190.7 million (USD27.9 million), from RMB137.7 million last year. During the first nine months of fiscal 2010, new subscribers sign-up increased by 36.1% to 33,523 new subscribers from 24,631 subscribers in the prior year period. Gross profit for first nine months of fiscal 2010 increased 37.4% to RMB140.1 million (USD20.5 million) from RMB102.0 million in the prior year period. For the first nine months of fiscal 2010, operating income increased 23.3% to RMB72.3 million (USD10.6 million). Net income attributable to shareholders in the same period was RMB33.0 million (USD4.8 million) compared to RMB0.6 million in the prior year period. Basic earnings per share and fully diluted earnings per share attributable to ordinary shares were RMB0.44 (USD0.06) and RMB0.42 (USD0.06), respectively. Non-GAAP EBITDA increased 33.7% to RMB86.2 million (USD12.6 million).
Financial Outlook
The Company expects total number of new subscribers for the 2010 fiscal year to increase by approximately 30% year-over-year or no less than 45,000 new subscribers which is expected to translate into not less than a 30% increase in total net revenue. Management also expects accumulated total number of subscribers will be at least 129,000 by March 31, 2010. In addition to organic growth on the existing markets, the Company plans to continue to pursue any opportunities with existing licensees and license applicants for potential acquisitions. The Company's practice is to provide guidance on a full year basis only. Such expectations reflect the Company's current and preliminary views, which are subject to change and the Company does not undertake any responsibility to update or correct any such forward-looking information.
morokoy, if you're referring to trading in the common shares, i wouldn't worry. That kind of illiquidity happens repeatedly for shares priced this high on the .OB.
Stocks like SCOK and LLEN are reaping the liquidity benefits from uplisting right now, and I would expect WOWJ (my guess as to their ticker) will benefit as well.
CFQWF China Fundamental Acquisition Corporation Applies for Listing on NASDAQ Global Market
BEIJING, Mar. 2 /PRNewswire-Asia/ - China Fundamental Acquisition Corporation (OTC Bulletin Board: CFQCF, CFQWF, CFQUF) ("China Fundamental" or the "Company") announces that it has filed an application to list its common stock, warrants and units on the NASDAQ Global Market subsequent to the acquisition of Beijing Wowjoint Machinery Co., Ltd. and its associated companies (collectively, "Wowjoint"). The Company is also in the process of changing its name to Wowjoint Holdings Limited. During the application review process, the Company's stock will continue to trade on the Over-the-Counter Bulletin Board pending NASDAQ's approval.
"Achieving a NASDAQ Global Market listing is another important step in Wowjoint becoming a publicly traded company. We believe a NASDAQ listing will enhance our visibility and the liquidity of our stock as a public company as we execute our business plan and expand our operations throughout the world," said Mr. Ya Bin Liu, CEO of the Company. "As a result of the recent acquisition, our Company now qualifies for the NASDAQ Global Market. This will greatly assist us as we seek to take advantage of new opportunities in China's growing infrastructure sector as well as worldwide customized equipment markets," added Mr. Liu.
Listing applications are subject to review and approval by NASDAQ's Listing Qualifications Department for compliance with all NASDAQ Global Market requirements. There can be no assurance that the Company will continue to meet the NASDAQ Global Market listing requirements or that the Company's application will be approved.
About China Fundamental Acquisition Corporation
China Fundamental Acquisition Corporation was a special purpose acquisition company formed for the purpose of acquiring, through a merger, share exchange, asset acquisition, reorganization or other similar business combination, or contractual arrangements, an operating business, or control of such operating business, that has its principal operations located in the People's Republic of China, including Hong Kong and Macau. China Fundamental completed its initial public offering on May 21, 2008.
About Beijing Wowjoint Machinery Co.
Wowjoint is one of the leading providers in the design, engineering and manufacturing of customized infrastructure equipment and machinery used in the construction of railways, highways, metro subways, bridges and viaducts. It provides end-to-end solutions in various engineering applications involving the lifting, carrying and transporting of large-scale and heavy precast concrete beams, and other heavy goods. Wowjoint's main product lines include launching gantries, tyre trolleys, special carriers, marine hoists and special purpose equipment. Wowjoint's equipment and machinery are designed to overcome specific construction obstacles by meeting its customers' stringent engineering requirements wherever Wowjoint products are deployed regardless of terrain, soil and climate conditions.
--------
The warrants are the play here IMO. They're substantially below intrinsic.
China Fundamental Acquisition Corporation Applies for Listing on NASDAQ Global Market
BEIJING, Mar. 2 /PRNewswire-Asia/ - China Fundamental Acquisition Corporation (OTC Bulletin Board: CFQCF, CFQWF, CFQUF) ("China Fundamental" or the "Company") announces that it has filed an application to list its common stock, warrants and units on the NASDAQ Global Market subsequent to the acquisition of Beijing Wowjoint Machinery Co., Ltd. and its associated companies (collectively, "Wowjoint"). The Company is also in the process of changing its name to Wowjoint Holdings Limited. During the application review process, the Company's stock will continue to trade on the Over-the-Counter Bulletin Board pending NASDAQ's approval.
"Achieving a NASDAQ Global Market listing is another important step in Wowjoint becoming a publicly traded company. We believe a NASDAQ listing will enhance our visibility and the liquidity of our stock as a public company as we execute our business plan and expand our operations throughout the world," said Mr. Ya Bin Liu, CEO of the Company. "As a result of the recent acquisition, our Company now qualifies for the NASDAQ Global Market. This will greatly assist us as we seek to take advantage of new opportunities in China's growing infrastructure sector as well as worldwide customized equipment markets," added Mr. Liu.
Listing applications are subject to review and approval by NASDAQ's Listing Qualifications Department for compliance with all NASDAQ Global Market requirements. There can be no assurance that the Company will continue to meet the NASDAQ Global Market listing requirements or that the Company's application will be approved.
About China Fundamental Acquisition Corporation
China Fundamental Acquisition Corporation was a special purpose acquisition company formed for the purpose of acquiring, through a merger, share exchange, asset acquisition, reorganization or other similar business combination, or contractual arrangements, an operating business, or control of such operating business, that has its principal operations located in the People's Republic of China, including Hong Kong and Macau. China Fundamental completed its initial public offering on May 21, 2008.
About Beijing Wowjoint Machinery Co.
Wowjoint is one of the leading providers in the design, engineering and manufacturing of customized infrastructure equipment and machinery used in the construction of railways, highways, metro subways, bridges and viaducts. It provides end-to-end solutions in various engineering applications involving the lifting, carrying and transporting of large-scale and heavy precast concrete beams, and other heavy goods. Wowjoint's main product lines include launching gantries, tyre trolleys, special carriers, marine hoists and special purpose equipment. Wowjoint's equipment and machinery are designed to overcome specific construction obstacles by meeting its customers' stringent engineering requirements wherever Wowjoint products are deployed regardless of terrain, soil and climate conditions.
--------
The warrants are the play here IMO. They're substantially below intrinsic.
NASDAQ filing - that's excellent news, and I'm glad they chose to PR it. I like how this whole transaction is working out, and I like the pace at which this Wowjoint management works. Warrants are still cheap.
Schedule D filed; $900k offering completed
http://sec.gov/Archives/edgar/data/1417624/000101376210000423/xslFormDX01/primary_doc.xml
Unfortunately it looks like any premium that there was is rapidly being eaten away. Looks like we'll hang around $2 for the offering, then perhaps move back up to a more reasonable level afterwards. Of course uplisting is out of the question at this low stock price.
Here's Goldman Sach's ownership of 10.3% of NHR:
http://sec.gov/Archives/edgar/data/886982/000076999309000987/northasiainvestmentcorp.txt
Institutions like Credit Suisse are taking positions...hope they're in favor of the merger!
http://sec.gov/Archives/edgar/data/824468/000082446810000018/sec_filing.htm
That acquisition seems like a great move on CO's part. Getting access to a 3rd region seems to pave the way for CO to continue becoming THE major cord-blood player in China. It's also shrewd for them to negotiate first-refusal on potential dilution or equity ownership changes...sounds like CO will ultimately end up owning a majority of SCBB at some point in the future.
The warrants are getting into an attractive price zone with the light-volume decline of CO providing the opportunity.
Now that the combination is finalized, seems like there's no shortage of potential catalysts for Wowjoint, including symbol change, name change, uplist, financials, etc.
Looking forward to this one getting off the .OB at some point to add some liquidity to both the common and the warrants.
The warrants continue to trade about $1 below intrinsic, so I continue to think that there's some value there.
China Fundamental Acquisition Corporation Closes Its Business Combination With Wowjoint
HONG KONG, Feb. 23 /PRNewswire-Asia/ -- China Fundamental Acquisition Corporation (OTC Bulletin Board: CFQCF, CFQWF, CFQUF) ("China Fundamental" or the "Company") announces that the acquisition of Beijing Wowjoint Machinery Co., Ltd. and its associated companies (collectively, "Wowjoint") has been completed. The transaction was approved by the shareholders of China Fundamental at its extraordinary general meeting on February 12, 2010, which also approved a change of China Fundamental's name to Wowjoint Holdings Limited.
"We are pleased to have consummated the business combination with Wowjoint," stated Ms. Hope Ni, Chairman of China Fundamental, "and we look forward to working with Wowjoint's management as it seeks to take advantage of new opportunities in China's growing infrastructure sector."
About China Fundamental Acquisition Corporation
China Fundamental Acquisition Corporation is a special purpose acquisition company formed for the purpose of acquiring, through a merger, share exchange, asset acquisition, reorganization or other similar business combination, or contractual arrangements, an operating business, or control of such operating business, that has its principal operations located in the People's Republic of China, including Hong Kong and Macau. China Fundamental completed its initial public offering on May 21, 2008.
About Wowjoint
Wowjoint is a leading provider of customized duty heavy lifting and carrying machinery used in such large scale infrastructure projects as railway, highway and bridge constructions. Wowjoint's main products lines include launching gantries, tyre trolleys, special carriers and marine hoists. The company's innovative design capabilities have resulted in patent grants and proprietary products. Wowjoint is well positioned to benefit directly from China's rapid infrastructure development by leveraging its extensive operational experience and long-term relationships with established blue chip customers.
I'm not in this one anymore, but i'd look at the filings.
Thanks! My DD is still strong, but I just don't feel the need to post as much of it as I used to. I pretty much just post my conclusions.
You have anything you like these days?
I don't see any explanation for the selling, so no idea if it's bottoming out. As far as I know, the investment story is still the same.
Definitely not going to get an uplist at these prices though!