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I shall go first then. I did send an email and follow up with a call as did you Wes. The response I received has a very specific, "do not disseminate this email to the public."Therefore, i shall only share the gist of the email. He states that the float has not changed since last announced so we are still looking at under 7 million. He states that he is leaving to the Philippines today to close whatever it is the company has been awaiting to close for over a year. He did tell me someone was most recently retained but did not give out his information and will research via the NOBO and DTC who is our seller. This IR person, as he stated only has very little.
Wes can you share what has taken place in response to your email and call to William the CEO?
And good day to all here today. It seems as if there has been the sound of a needle that we were all able to hear since its quieter than a library after all has disappeared.
Good day my good man. I have been watching from a far. I did, however speak with a mutual whom advised me that we will not see anything with the substance that is needed until next week. I have been taking a bit of a holiday from EFUL.
I do not bother calling, emails are returned quickly.
your average is too high. As this is a great company, I do not foresee a .40 cent move until the Q4 numbers. This is not your fault, you were their supporter at a higher price, correct?
This is a good buy, please do not ever get me wrong, but I see more of a .25 cent number until they make formal announcements on the JV he is talking about or their numbers.
It is however lunch time and with my sugar as low as it is today, I bid you good lunch.
As always you are correct good man. But, the 144 shares, according to the CEO is all above $1.00 and most are held by insiders who cannot sell into the market. Of course William will know if any 144 come to be free trading as he, as the CEO must sign off on them.
As did I. I requested the name of the IR person being that it should be public knowledge along with the share structure to see if anything had changed. This is important. If the float is still 7 million or below, and if he can guarantee this "wonderful" IR guy is not dumping, then we should continue on our own to push on and assume this IR guy just does not know what to do as you, I and 2 others can account for almost 100% of the buying the last few weeks again. I do not mind, at the least to continue to buy and buy if there are only 7 or less million shares in the float. To me, as long as we are promised to dilution, we are going to make a fortune with this "sleeping dragon" no pun intended being a Chinese company.
It seems as if we continue the purchase and the wonderful seller is not moving from .035. Looking at the capital structure and shares out, I do not see anyone who would sell down here who has this much unless? Unless they hired someone and gave them shares. That would then make sense. Mr Bull or Red or what have you and Joseph have both clearly stated that "they", meaning the CEO, has hired a person to assist them. a sole person. Our goal now is to find out who from the CEO, and ask him to check the NOBO and DTC to see if this is our infamous seller. This is simply found when you only have 7 million shares in the float. Now who would like this task?
I must call my broker to see if that was my bid or your bid that was just hit. I think we both may be sitting there.
I would say that whomever is sitting at .034 is nothing more than a fool as if they loose their shares down here, they are loosing shares worth more than .25. If they are of any intelligence, they should pull their offers. If anyone bought them out, they won and the seller looses. But in this market people are acting like broke fools.
I think he meant to say double d's but who am I to correct a soul.
POST # 9240 was agreeably wonderful. Thank you.
Most of us here care. We care too much seems to be the legitimate issue at hand. Fundamentally, this company is outstanding. We were told that a new IR gentleman was hired. We are all on the sidelines ready to watch. This is the issue at hand. I do not know nor do I want to know who he is. As of now, i can tell you he is not very good. Between Wes, Myself and 2 others, I am sure looking at our accounts, we account for every share in the last 2 weeks. Till date, there is not an "IR". But do not fret, we will prevail.
Red bull, this just does not make any sense. Are you ok?
Rupert Murdoch and progressive media in China
Who has viewed this? I cannot imagine it has been left unfounded!
Rupert Murdoch is talking about China again, and this time he's on about media and a very small company in the United States who's growth potential in China is outstanding.
News Corporation now sees media as one of its best strategies to gain a foothold in the Chinese market, chief executive Rupert Murdoch has said.News Corp, which has had mixed success with its TV channel in China, has been hamstrung by a mercurial regulatory environment.
In June, it sold off a stake in a Chinese broadcaster, marking the latest retrenchment by a major media firm as western companies realize that quick returns are unlikely to materialize any time soon. "There may be hopeful eyes on a U.S media david about to take on the Goliath of China," chief executive Rupert Murdoch has said about a hopeful who's potential for 2009 seems great.
Rupert Murdoch's China adventures; how the world's most powerful media mogul lost a fortune and found a wife
Dover served as the head of business development for Rupert Murdoch's News Corporation through the 1990s, and now documents the mixed results his boss achieved while trying to make a communications deal with China. The author maintains that while Murdoch was able to finally make the deal he wanted, it came at an enormous cost and was extremely advantageous to the Chinese. Written in an accessible style that will appeal to general audiences as well as business professionals, this book also shows Murdoch's human side by detailing how he met Wendi Deng, a Chinese businesswoman who would ultimately become his wife.
I shall. I was also looking for Sexxy and joseph most of the day. Any news there?
I have called a few times today. I hope to get a hold with him
As long as the .027 goes to .03, we show relative strength which is what the public is in dire need of
I see that NITE has finally decided to work with us. They were, however at one point trying to push us down. I am sure they did receive word of Medag3's progress.
Like I have said on previous occasions, we do this as a team, we win
Redbull, how long did this take you to make?
We are all here as a TEAM to make this work
So this is what happens when we wake up in a good mood?
I beg to differ, I am of presence now.
And with that, I bid you good night my good fellows.
I assume it is the same seller. Think again, it was NITE who down ticked. It was NITE who was on the offer and bud all day and NITE who was selling at a Premium. He sold on an uptick and sold to bring it back down to trade it in the morning. To break his trend, one must come in strong at the open and take it our of his hands, therefore driving his purchase above .03 which will in turn move it to a nickle.
To me it looks like someone is in hopes of a cheap purchase at the very open. I have witnessed this the other day. Think, if they hit the bid prior to the close for 50,000 shares plus or minus with a double print or two, and it opens 50% lower with offers stocked and he is the first offer, he can not purchase his shares back plus 20-50% more at 50% discount to where it shall trade later in the day. It is, the only reason in my book. they are not doing any equity financing so it cannot be for an investment other than a trader or fool trying to make a dollar.
I am however a bit worried about the way this traded today. It is apparent to me that NITE on the offer was not actually the seller. It may seem as if someone sold shares to another since the NITE offer opened this morning and the same offer followed down to the .029 level since there was no fill in sight. I do hope that this is not a promotional ploy and it was a purchase. I do not understand why NITE would move down if NITE was the maker on the offer. Strange and odd.
It may seem as if I am missing much of the MEDIAG3 Party here. I guess you were correct Joseph. Something is brewing and my concern is diminishing. Good work young man.
As always Stingray, you come to the table with a full deck. I wish we had more investors like us on this board.
I would love to know what is going on here as well.
And you are feeling my sentiment as usual. Please be available on personal, I will speak to you in a few minutes.
You are correct. But without eyes, we are blind here.
Good day relaxed. I cannot seem to find Mr A or Mr B. Any clues?
Is Joseph around to day to ask about the PR?
Prior to your involvement, you stock was trading above a dollar. I assume if properly done, and proper Pr, we will see at least half of the previous trading range.
It is a bit too late for your notion of only a very few on the offer. We need some real buyers other than "us."
Good day doberman. It seems as if the press release did not make much of a difference yesterday. What do you make of this?
HANGZHOU, China — Chinese officials are trying to cool an economy they fear might be dangerously overheated. But first, they need to rein in people like Gao Jisheng.
Twice in the past month, China's central bank has sought to curb growth by making loans harder to get for businessmen such as Gao. But even as Beijing's leaders fret publicly about the risks of a runaway economy, their modest policy steps appear to be having only limited impact. "Our company has no plans to shake out projects or cut down. ...We still have a lot of space to grow," says Gao, chairman of Lander Real Estate Investment Group. (Photo gallery: Images of China's bustling economy)
This year, Gao, 51, expects to build almost 13 million square feet of new homes and offices, 70% above last year's total. There's no mystery as to why he's throwing buildings up so quickly. China's economy roared ahead at a faster-than-expected 9.7% rate in the first quarter, enjoying a strong boost from a steroid-fueled property sector. In cities such as Hangzhou, Shanghai and Beijing, the skyline changes almost overnight with new structures rising from bulldozed blocks. (Related story: China pulls reins on its economy)
Growth is good. But Chinese leaders increasingly fear Beijing now could be getting too much of a good thing. This week, Chinese authorities announced new measures to slow growth.
As the economy hurtles forward, investment is flooding into real estate and government infrastructure projects such as highways and dams. Fixed-asset investment in the first quarter soared 43% compared with the same period last year, lifting prices for materials including cement and steel. Another sign of an economy running ahead of itself: Factories are suffering chronic electricity shortages.
"There are problems in economic activity, with investment demand expanding too fast, money and credit growing too quickly, and inflationary pressures rising," Zhou Xiaochuan, China's central bank chief, said earlier this month.
Impact felt in USA
For the USA, China's boom is pushing up the cost of commodities such as crude oil and cement. If policymakers can't prevent an economic hard landing, the financial damage will be felt here by companies from Ford Motor to Procter & Gamble. For companies serving China's growing middle class, the nightmare scenario is a prolonged downturn, with crashing profits, millions of layoffs and unknown damage to political stability.
For now, that's considered unlikely. Still, worrisome signs of speculative froth are evident in Hangzhou, the lakeside capital of Zhejiang Province. In the past five years, the percentage of property sales by investors (rather than owner occupiers) has shot up from almost zero to an estimated 30% to 40%, says Zhao Hangsheng of Zhejiang University's Research Institute for Real Estate Investment.
As more people buy because they think property prices are destined to rise, rather than because they need a place to live, the danger of a steep downturn is growing.
"The bubble will eventually burst. It's just a matter of how and when," says Qu Hongbin, an HSBC economist in Hong Kong.
When that happens, "horrific financial losses" from sinking property and commodity prices will result, warns Morgan Stanley economist Andy Xie.
While the bubble expands, developers such as Gao enjoy lavish rewards. The son of municipal government employees, Gao spent most of the 1970s in the Chinese army. Later, he worked in a water pump factory where he joined the Communist Party. In 1995, he left his government job for Hangzhou's fast-growing private sector.
Since then, he's prospered from China's rampant urbanization, launching development projects in 18 coastal cities. Today, he vacations in New Zealand and lives in a 3,200-square-foot home. His car is a Mercedes S600 sedan, which lists for more than $230,000 in China. On the wall of his office, a giant photograph shows Gao wearing a casual jacket with upturned collar and striking a rakish pose. "This is an opportunity created by the times," he says.
Outside a seven-story stone apartment building a few miles from the city center, standing directly beneath the Hangzhou airport flight path, Annie Xu, 31, represents the other side of the housing boom. The schoolteacher lived in the center of town for more than a decade until redevelopment claimed her old neighborhood. In 1998, she moved to subsidized housing with her husband. Amidst China's relentless growth, even the sales price of this so-called affordable housing has tripled since 1999.
"We can't afford a large house or a house in a better location," she says. "Houses now are so expensive, there must be a bubble. ... I think right now the real estate market isn't normal."
Flawed banking system
At the root of China's current problems is a deeply flawed banking system affecting both housing demand and supply.
China's big four state banks don't really compete to lure customers. Traditional savings accounts are little better than the proverbial mattress: They pay interest of 0.72%.
To get higher returns, people increasingly have turned to buying apartments and homes. The past year, Hangzhou housing prices jumped 20% to 30% after a more-than-10% rise in 2002, according to Zhao. "This has attracted more and more people to the market," he says.
At the same time, a steady flow of bank loans has fueled property development. China's banks were originally established under communism as a mechanism to provide capital to giant state factories. Lacking the expertise to distinguish between good credit risks and bad, they often base loan decisions upon political considerations.
Xie likens the typical Chinese developer to a junk-grade credit risk and says such businesses should be paying "double-digit" interest rates for credit. Instead, after cursory credit checks, developers get loans at about 6% interest.
An estimated 80% of all Zhejiang province bank loans in 2002 and 2003 went to real estate ventures, according to Zhao Yingjun, executive dean of Hangzhou University of Commerce.
Nationwide, all this easy money has fed a construction frenzy. Xie estimates that builders started work last year on 1.1 billion square feet of unneeded space — an amount equal to about 478,000 average-size U.S. homes.
The banking system's shortcomings also are making it difficult for Chinese leaders to engineer the desired soft landing for the economy. The China Banking Regulatory Commission this month said it would conduct spot inspections in seven provinces of banks making loans to real estate, steel, aluminum, cement and auto sectors, according to the state-run China Daily newspaper.
But tinkering with bank reserve requirements and interest rates — the other traditional tools employed to date — is of limited use. Whatever the top officials in Beijing say, state-owned enterprises (SOEs) in the far-flung provinces maintain informal links to bank officers that guarantee loans will continue to flow, economists say.
Since China remains an almost unique hybrid of Wild West capitalism and lingering state controls, the influence of these deep-pocketed SOEs bleeds into the private sector. Gao gets about one-quarter of his annual financing through partnerships with state enterprises looking to cash in on the real estate boom. The central bank's recent actions don't affect that credit flow.
Transformation sparks demand
The fevered economy isn't only froth. China is in the midst of a genuine economic transformation that is spreading prosperity to millions and generating real demand for goods.
As people leave farms in search of better lives, new cities are being built, increasing demand for construction materials. Rising living standards mean people have more money to spend. The introduction in recent years of consumer finance and mortgages is further boosting demand. This is the big difference between today and the early 1990s, when double-digit inflation signaled an economy of dangerous imbalances. (Today, inflation is running at 2.8%.)
Under communism, Chinese workers weren't paid much, but they received free housing through their work units or danwei. Starting in 1998, the government began moving to a free market in housing. Beijing sold off some of the old housing stock to workers at a discount. It knocked down much of the rest to make way for new, more modern homes, which people bought using newly available mortgages and their higher free-market salaries.
The frenetic property construction and sales are a reflection of those fundamental changes. At the same time, the government is on a spending binge, building bridges, highways, dams and power plants to make up for time wasted under the command economy. In Zhejiang, the provincial government is spending $1.4 billion on a 22-mile bridge across Hangzhou Bay to Shanghai.
Amid all this pouring of cement, many economists say the government needs to be more aggressive to head off a real crisis. "They need to do more. It requires tougher measures to stop this," HSBC economist Qu says. "The risk of a hard landing is increasing."
At the same time, Beijing must be careful not to pump the brakes too hard. China needs to create 14 million jobs this year to absorb the number of rural workers flooding into its cities and university graduates entering the labor force, says Andy Rothman of CLSA Brokerage in Shanghai. The target is growth of at least 7%.
Still, if the worst happens and the Chinese economy does land with a thump, it doesn't mean disaster — just plenty of pain for millions of Chinese. The country's banks, which are government backed, would bear the lion's share of the costs.