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CTON and HLXH are on my watch, but in no hurry until the housing numbers turn.
UCPJ(now BWMG) is one I am bidding. .06-EPS already filed in Q-1 and if my current read is correct, the CEO is telling us Q-2 should be even stronger than .06, perennially their best quarter.
NEAU is another I haven't seen any posts here? $150K-Cap and $74M Revenue in 2007. They lost .01-pr-share in 2007 and upscale automobile volume wholesaling doesn't appear very sexy, even less so w/$4 gas prices, but the divergence of price to sales is into extremes.
China Stock List Smorgasboard (add 25 symbols)
OTCBB:
AAMA
AAXT
AGMB 0.22 (to pinksheet)
AIDA 0.82
ALIF 2.40
ALRC 3.01
AOPM
APRB
ASAQ 5.86
ASTTY 0.39
AWSH 1.20
BJGL 0.192 (to pinksheet)
BPAC
BPMA 0.29
CAAH 0.065
CADC
CAGC 2.49
CAGM 1.25
CAXG 1.54
CBEH 7.75
CBPC 0.004
CBPO 2.90
CCCHF 6.10
CCGY 0.92
CCSE (prev. NMCH)
CDGT 0.10
CDSG 0.63
CDTR 0.032
CFDT
CGDI 1.05
CGRH 0.10 (to pinksheet)
CHAS 0.09
CHBP 0.20
CHBU 0.55
CHCG 1.67
CFQUF 8.25
CHFY 0.75
CHGI 2.15
CHHB
CHHL 0.028
CHID 0.05
CHLO 0.75
CHMD 0.006
CHMO 0.15
CHGS 2.40
CHNG 6.30
CHRN 0.77
CHSH 0.12
CHTL
CIIV 4.50
CIWT 4.85
CJYF 4.00
CKGT 0.66
CMFO 3.38
CNAG 0.03 (to pinksheet)
CNCN 0.24
CNHL
CNOA 0.88
CNSJ 0.40
CNUV 0.042
COFI 0.135
CPHI 2.29
CREG 1.26
CRJI 1.51
CRTP 4.00
CRUI 4.00
CSGH 1.07
CSOF 0.10
CSOL 2.00
CSXB 0.15
CTFO 6.20
CVDT 0.52
CVVT 5.00
CWDK 6.80
HEK 8.396
CWEY 1.16
CWLC 0.002 (to pinksheet)
CWSI 4.85
CWTD 0.04
CYID 1.85
CYIG 4.50
CYTV 0.049
CYXI 0.82
CYXN 1.28
DGNG 1.08
DOMR 0.00
DRGG 0.08
DRGV 0.014 (to pinksheet)
EBIG 0.055
EESC 0.95
ENHD 5.00
EQPI
ETLT 0.47
EVGY 4.60
FEEC 0.585
FRTW 0.016
GCME 0.01
GCYT
GEBD
GHII 0.50
GFRE 2.33
GOEG
GTEC 0.2999
GUPR 0.02 (to pinksheet)
GZGT 0.065
HDRX 0.07
HFGB 1.05
HHGM 7.50
HKRS 0.42
HKWO 8.00
HLSYF 6.75
IAGR 0.004
ILVL 0.13
INAI 0.00
JNGW 5.40
JPAK 1.25
KVME
KWBT 0.078
LEGE 3.68
LTSC 1.99
LOGE 0.16 (to pinksheet)
LWLL 0.25
MAUG
MYST 0.196
NWCN 1.50
NXMR 0.064
OPAI 0.29
PFGY
PUDC 0.55
QKLS (prev. FOCP)
RHGP 1.31 (to pinksheet)
RINO 10.40
SCLX
SDTC
SFBE 0.30
SGAS 1.80
SGTI 3.27
SGUS 0.20 (to pinksheet)
SGZH 10.51
SINE (prev. SNEN)
SKBI 1.09
SMGH 0.0899
SNMO 0.10 (to pinksheet)
SNYD 0.48
SOBM 0.35
SOEN 0.73
SOPW 1.28
SOSA
SRRY 0.42
SULU
SUWG
SUWN 0.35
TBYH 2.30
TXICF (prev. AAAC)
TYNP 3.20
WCRF 4.00
WCSY
WEMU 8.98
WUHN 8.25
WWBP 0.03
WWEI 0.065
XHUA 0.011
XNYH 0.65
YGYB
YSYB
YUII 7.35
UPLISTED:
ADY 12.77
APWR 23.05
ARWR 2.599
BEST 3.49
BJGP 7.49
CAAS 6.50
CAST 4.49
CHDX 23.47
CHIO (move from otcbb)
CHLN 5.10
CHNR 22.34
CPBY 7.09
CSY 13.32
EFUT 16.66
GRO 4.78
HOGS 11.56
HRAY 2.98
HRBN 17.68
KNDI 5.03
KUN 4.21
NOEC 5.91
NWD 0.71
OCLS 3.90
ORS 2.12
PEAK 1.97 (bought out @ $2)
SHZ 3.68
SPRD 9.25
SUTR 7.44
TBV 1.85
TSTC 4.72
WATG 8.63
VIT 11.46
UPLISTED W/OPTION TRADING:
ABAT 3.96
ACTS 3.44
AOB 11.79
CAEI (prev. RCH)
CBAK 4.20
CDS 8.60
CFSG 11.63
CISG 16.23
CNTF 4.97
COGO 13.59
CPSL 5.38
CSIQ 37.50
CSR 20.041
CTDC 6.164
CTRP 58.57
CYD 11.60
FEED 15.00
FMCN 38.19
FSIN 19.51
FUQI 10.79
GIGM 16.81
GRRF 5.00
GSI 10.65
HIMX 5.77
HMIN 24.04
JASO 20.20
JRJC 23.80
KONG 4.56
LDK 42.40
LFT 18.40
LONG 8.441
LTON 2.10
NED 7.16
SDTH 8.19
SEED 6.45
SNDA 31.01
SOHU 85.98
SOL 23.49
SOLF 20.00
SORL 6.08
SSRX 10.60
SVA 4.02
TCM 8.70
VISN 19.51
XFML 2.98
XIN 8.80
YGE 20.01
YTEC 13.15
GSI - at the $16 peak and only very briefly, the July 12.50 (GSISV) puts could have been bought at ask for .30. For several hours therafter those puts could have been bought for .50 or less. Current ask today is $2.70.
08 Jul 12.50 (GSI SV-E) 2.50 +1.30 2.20 2.70 20 481
http://www.cboe.com/DelayedQuote/QuoteTable.aspx
Imo, that yo-yo move in GSI is more testimony to just how scammy these china r/m plays truly are and I have GSI pegged as one of the scammiest.
I'll be buying puts in the entire china r/m sector until it eventually collapses on it's own falsity.
Also, VMC should officially add BJGL as #6 to the current list of 5 china r/m scams.
No oil bubble. Decreasing supply meeting increasing demand cannot be considered a bubble. Some manipulation perhaps, most likely even, but no bubble.
China r/m distribution abuser stocks is a certain bubble. Increasing supply meeting decreasing demand wrought with manipulation so apparent a 7th grader could see through it.
BJGL website still up. Pics and Bios.
http://www.beijinglogisticinc.com/ManagementTeam.asp
Those 9 I listed are all I found and they're only connections not necessarily indicating anything more than that with the caveat: I think that address is as hokey as they come. I can just picture a chinese fortune COOKING factory there, lol.
CNOA actually gets a small green flag for calling it off with those BJGL funders:
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5827465
Although I still think CNOA is as shady as they get.
jmo
BJGLE - in time sequence:
NT 10-K 3/31/2008
10-K 4/15/2008
Then this from the PCAOB website reprimanding the auditor, Davis, on 4/24/08.
http://www.pcaobus.org/Inspections/Public_Reports/2008/Davis.pdf
That pcaob inspection must be what triggered today's PR and the reason for not seeing any NT-10Q filing.
This can of BJGL chinaR/M scammy worms could get ugly. We now have probable evidence of an ongoing investigation and the BJGL funders and addresses link to at least 9 more chinaR/M's.
Google these funders from the BJGL filings and connect them to china r/m's GFRE, CIVY, CNOA, CNAG:
Shenzhen Huayin Guaranty & Investment Company Limited 6.3 % 3,150 5,619,124
Billion Hero Investments Limited 4.36 % 2,178 3,885,223
ARJUNO Investments Limited 4.36 % 2,182 3,892,358
Innovation Gainings Investments Limited 4.36 % 2,178 3,885,223
Even Bright Investment Limited 4.36 % 2,178 3,885,223
Volento Investments Limited 4.36 % 2,178 3,885,223
Nation City Investments Limited 4.36 % 2,178 3,885,223
Quick Agent Investments Limited 4.36 % 2,178 3,885,223
The address "P.O. Box 031-088, Shennan Zhong Road, Shenzhen City, P.R. China 518031" used in the earlier BJGL merge filings connects to:
INAI, DOMR, SNYD (still shells), OPAI, and UTVG.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5316569
chop suey
CPSL 2 separate Form-4's, one from CEO and one from CFO.
CEO was the pr, $19.9M donation (uh huh) and who knows his intent?
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5966919
CFO no pr, $5M+, take the money & run.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5973275
researcher, CPSL CFO sells 1M shares into the downspike, not the recent upspike.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5973275
I had previously sold my CPSL puts for a small gain and when I saw this Form-4 hit the wire, I tried to find a good price to buy my $5 puts back but passed, too pricey.
The $2.50 puts are priced right, but I think the stock would need more bad news to have any probabilty of breaking below $4.
Zen, I re-checked my list to see I did overlook one, ACLO. The reason I overlooked it is because ACLO has been on my value watch list for a couple years. I don't own it due to their recent value problems, but if they can turn it around, I would consider buying ACLO. A good contrast dd "china" stock against all the r/m scammy ones.
That list I posted has over 200 stocks with no more dd into probably 75% of them than to see if their address was in china. Several of those "uplisted" went the traditional IPO route, so I would lean to the legit side on those. I want to re-emphasize "REVERSE-MERGER" scamminess. R/M is an invitation to scammers and when you invite stock-scammers, they WILL come.
I see AOB as a 2001 pinksheet equivalent stock merging with a golf internet scam and ultimately slipping thru every crack, past every guard, and onto the NYSE. The (long term) chart shows the previous golf scam also took advantage of the dot.bomb bubble. Could AOB be the first to scam both bubbles, dot.bomb & china r/m?
Today's AOB pr is the funniest pr I've read in months. Over the past 5 years from AOB's first pp at $.85 to the most recent pp at $8.50, AOB has abused distribution to the tune of some 50M shares. Now the CEO wants to buy back 6M shares at $12. Sell Low, Buy High, Top Notch Planning.
http://biz.yahoo.com/prnews/080602/nym065.html?.v=101
littlejohn, YTEC/CXTI connection was unaware of that too. Do you have a name we can google. Would be interesting to see where that might lead.
"The reason for the changing of auditors so quickly is that each of the previous two (Murrell Hall, Sherb) had been seen as tainted in their prior dealings with Chinese companies. (NOTE: both of those firms have vehemently disagreed with this characterization and are fighting the allegations in court.) Moore Stephens is seen as a larger, more respectable auditor....I think CSY should get credit for this change, not ridicule."
Do you have any more specific details on Murrell and/or Sherb being reprimanded by china company's? I was unaware of that.
I did a google on CSY's "Moore Stephens" trying to match them up to the "Moore Stephens Wurth Frazer and Torbet" that CFSG retains and YIWA retained and came up blank? I will assume they are NOT the same auditor? Any more info on CSY's "Moore"?
tia
"It would be helpful if you would give us a symbol or two of Chinese microcaps that you're comfortable with, or perhaps even invested in."
I'm currently buying/bidding Dec. & Jan. puts in CSR, CDS, COGO, and AOB. FEED, CFSG, GSI, and YTEC are at the top of my put watch list but somewhat pricey yet.
lentinman,
No argument from me. Great thread and you guys do a great job. Let me change the negative context of "deteriorating" to a positive context of:
VMC could be an even better thread if more emphasis was placed on what's UNDERNEATH those chop suey numbers and with specificity to the "penalty free zone" china r/m sector.
Back to CSY filings:
The S-1 is in the form of a pp for: 2,860,835 shares @ $10.20 = $28,449,452 purchased by a sizeable group of investors.
The chart shows minimal volume to support a pp like this.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=csy&sid=0&o_symb=csy&freq=1&time=8
Plus these lingering warrants from the S-1:
Common stock Underlying Warrants
We are also registering for resale by certain Selling Securityholders, 1,089,168 shares of common stock issuable upon exercise of warrants (but are not registering the warrants themselves) to held by them. We will receive proceeds only from the exercise of the warrants but will not receive proceeds from the sale of these securities by the selling securityholders. The warrants are exercisable at various prices. A summary of these warrants are as follows:
· 750,000 shares issuable upon exercise of Class A Warrants exercisable at $12.50 per share, issued to investors in connection with our private offering in January 2008, exercisable between July 31, 2008 and July 31, 2011,
· 239,168 shares issuable upon exercise of callable warrants exercisable at $3.50 per share (originally, 500,000 callable warrants, many of which have been exercised the shares of which are being registered hereby), expiring October 10, 2008 and held by certain investors in our private offering of securities in October of 2006,
· 50,000 shares of common stock issuable upon exercise of warrants exercisable at $3.00 per share, issued to Mr. Jack M. Gertino, a former executive of the Company, and expiring December 23, 2008, and
· 50,000 shares of common stock issuable upon exercise of warrants exercisable at $3.50 per share, issued to American Eastern Securities, Inc. (and its assigns) and expiring on October 10, 2008.
The above does not include 1,000,000 shares underlying warrants exercisable at $2.00 per share, issued to certain previous investment bankers of the Company in 2006, which are not being registered but which, if sold, could have a dilutive effect on the Company’s market price. The Company is required to register for re-sale all shares otherwise issuable upon exercise of certain of the above listed warrants. If a registration statement is not declared effective many of the foregoing warrants will become exercisable through a cashless exercise method.
I wouldn't touch CSY, but it's chart should certainly prove interesting going forward and much better viewed when fully knowledgeable of the distribution abuse going on UNDERNEATH those chop suey numbers?
CSY, using "Harbin Bio-Engineering/Harbin Medical University" in their campaign, very similar to the titles AOB uses in it's campaign. Is it possible that two "TCM"s in the same 4M population city directly competing against one another can continue increasing revs/profits like clockwork? I guess it's possible but I'm sure I've seen other chinaR/M "pharmas" playing the same card? Anyone know of any other "TCM" china stocks in Harbin?
10KSB - 3/31/2008
"Item 8. Changes In And Disagreements With Accountants On Accounting And Financial Disclosures.
As reported in a Current Report on Form 8-K dated April 16, 2007, and incorporated herein by reference, effective April 12, 2007, e-Fang Accountancy Corp. (“e-Fang”), the firm that audited the financial statements of China Sky One Medical, Inc. and its subsidiaries (the “Company”) for the year ended December 31, 2007, was dismissed by the Company as its independent registered accounting firm, due to the engagement of the new auditors, as described below.
Effective April 12, 2007, we engaged Murrell, Hall, McIntosh & Co., PLLP (“Murrell”), as our independent registered accounting firm to audit the financial statements of the Company and our subsidiaries for the fiscal year ended December 31, 2007. The decision to change the Company’s independent accountants was made by the Company’s board of directors.
As reported in a Current Report on Form 8-K dated December 18, 2007, and incorporated herein by reference, effective as of December 18, 2007, the Company dismissed Murrell, Hall, McIntosh & Co., PLLP as our independent registered public accounting firm. Murrell, Hall, McIntosh & Co., PLLP had not audited any of the Company’s consolidated financial statements, having replaced our previous independent registered public accounting firm, e-Fang Accountancy Corp. & CPA, on April 12, 2007. The decision to change accountants was approved by the Company’s Board of Directors on December 17, 2007.
Prior to the dismissal of Murrell, Hall, McIntosh & Co., PLLP, the firm reviewed the Company’s unaudited interim reports for the fiscal quarters ended March 31, 2007, June 30, 2007 and September 30, 2007. In connection with such review, there were no disagreements with Murrell, Hall, McIntosh & Co., PLLP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which, if not resolved to the satisfaction of Murrell, Hall, McIntosh & Co., PLLP, would have caused it to make reference to the matter in connection with its reports. In addition, there were no “reportable events” as that term is described in Item 304(a)(1)(v) of Regulation S-B.
As of December 18, 2007, Sherb & Co., LLP was engaged as the Company’s new independent registered public accountants. During the Company’s two most recent fiscal years, and the subsequent interim periods through December 18, 2007 (the date of engagement of Sherb & Co., LLP), the Company did not consult Sherb & Co., LLP regarding either: (a) the application of accounting principles to a specific completed or contemplated transaction, or the type of audit opinion that might be rendered on the Company’s financial statements; or (ii) any matter that was the subject of a disagreement as defined in Item 304(a)(1)(iv) of Regulation S-B."
Since that filing in recent pr, CSY has replaced even "Sherb" (Boca Raton) with "Moore Stephens" as the newest of their musical chair auditors? A Boca Raton auditor not good enough? lol
http://biz.yahoo.com/prnews/080528/cnw043.html?.v=3
More from the K filing:
"In March, 2007, we entered into a strategic agreement with Takasima. As a result of this agreement, Takasima has been engaged as the sole agent of China Sky One's patch products in Malaysia. Takasima has commenced marketing and sales efforts of China Sky One's Slim Patch product line. The Slim Patch is a weight loss product that is currently sold in China under the "Tian Di Ren" brand. The Slim Patch will be repackaged and sold in Malaysia under the "Takasima" brand name. The strategic agreement also requires that Takasima will generate sales revenue of approximately US$1.0 million per month. Since the signing of the agreement, Takasima has fulfilled its monthly obligation. Management anticipates that this strategic agreement could result in up to US$12 million in additional annual sales revenue in 2007, with a net profit margin of approximately 20%. The agreement also provides that Takasima has a first right of refusal to become the sole distributor of the Slim Patch in all of Southeast Asia."
The takasima website is referenced in a corresponding CSY pr, but I see NONE of CSY's products listed there?
http://www.takasima.com.my/news.htm
researcher, scroll right through all the redundant verbage in the CSY S-1 linked below to the long list of names? Those are the investors that put up the $25M+/- one now sees listed as cash in the most recent CSY Q filing.
http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5861615
I view that group as 'flippers with an edge' but I have serious doubts even one of them knows what really goes on in Harbin. This china r/m sector is beginning to resemble a Vegas on steroids, gamblers gone wild. I'll be patiently watching for the collapse event and preparing to put the entire sector. Possibly CSY will offer puts one day?
The china boilerplate from CSY:
"It may be difficult to effect service of process and enforcement of legal judgments upon our company and its officers and directors because they reside outside the United States.
As our operations are presently based in the PRC and our directors and officers reside in the PRC, service of process on our company and such directors and officers may be difficult to effect within the United States. Also, substantially all of our assets are located in the PRC and any judgment obtained in the United States against our company may not be enforceable outside the United States."
kozuh, in stocks I hold, I dread reading the upcoming K-filings. The Q's are fun just read the numbers and move on. But the K's are complex in needing to read through all the boilerplate for something new possibly slipped into the last pages. lol
Conversely, in stocks I do not own, the K-filings are everything. 80% or more of a company's entire story will be in it's most recent 10-K and depending on one's specific interest, move from there to examine the remaining 20% of the story.
That's my dd approach.
Inconclusive evidence?
Two examples:
CXTI (inconclusive)
I have no doubt at some blog thread here, at rb, or somewhere, one could easily find some lingering bagholder (or two) to argue the point that CXTI numbers are valid and the company is simply entertaining a normal extended quiet period waiting to blast out upcoming rocket ship news, lol.
ENRON (conclusive)
Hard to find anyone to argue enron wasn't a scam.
Conclusion: Stocks/Stock trading is best approached in correct anticipation of a host of imperfect inconclusive evidence, NOT conclusive evidence. Of 10,000+ stocks to choose from, one might get to witness "conclusive" evidence once per year.
There's alot of distribution abuse UNDERNEATH all these china r/m chop suey numbers that HAS NOT been being posted/discussed at VMC often enough. Yes, the adept traders will exit unscathed, but consequently will newby readers hold their bags and possibly at the expense of being bamboozled by VMC posting all these brilliant chop suey numbers and ignoring so many faults?
Would you be willing to change the VMC title sentence to:
Value Microcaps is dedicated to finding (and flipping) profitable, low p/e, value stocks.
The VMC board has deteriorated somewhat from the excellent board I remember when I first stumbled onto it. Maybe the chinas are ALL legit, every one? Any stance of "inconclusive evidence" cannot be argued, but the abundance of faults within the china r/m sector should be discussed more often and more openly for the good of ALL readers, adept traders and newbys alike.
Constructive criticism & jmo
"Still, I'm skeptical because so many of them come in loaded with cash on their books. Very few explain where that came from. And, even fewer can be verified."
An excellent point we should all be looking at closer. The cash is mostly coming through the distribution abuse. Likely real money and all tucked away into chinese banks. CXTI ran off with $20M cash on it's books.
While reviewing those SUWN 10-K's, I came across this boilerplate one will find in most ALL these china stock filings. Or is it just boilerplate? Might just jump up one day and bite a few on the ass?
"IT MAY BE DIFFICULT FOR STOCKHOLDERS TO ENFORCE ANY JUDGMENT OBTAINED IN THE UNITED STATES AGAINST US, WHICH MAY LIMIT THE REMEDIES OTHERWISE AVAILABLE TO OUR STOCKHOLDERS.
Substantially all of our assets are located outside the United States and substantially all of our current operations are conducted in China. Moreover, all of our directors and officers are nationals or residents of China. All or a substantial portion of the assets of these persons are located outside the United States. As a result, it may be difficult for our stockholders to effect service of process within the United States upon these persons. In addition, there is uncertainty as to whether the courts of China would recognize or enforce judgments of U.S. courts obtained against us or such officers and/or directors predicated upon the civil liability provisions of the securities law of the United States or any state thereof, or be competent to hear original actions brought in China against us or such persons predicated upon the securities laws of the United States or any state thereof."
SUWN, I see a smorgasboard of distribution abuse while the INSIDERS would dilute their own share base at will.
10KSB - 8/15/2005
As of August 1, 2005, 43,367,276 shares of common stock are issued and outstanding.
Baozhang Yuan (1) 3,969,234 9.2%
Lei Zhang (2) 3,969,234 9.2%
Xianfeng Kong 3,969,234 9.2%
Alpha Capital Aktiengellschaft (4) 3,500,000 8.1%
Marc Siegel (5) 4,105,000 9.4%
10KSB - 8/9/2006
As of July 6, 2006, 73,942,276 shares of common stock are issued and outstanding.
Laiwang Zhang 12,539,802 16.7%
Dongdong Lin 4,984,108 6.7%
Chengxiang Yan 0 n/a
Fanjun Wu 1,732,052 2.3%
All officers and directors
as a group (four persons 19,255,962 26.0%
10KSB - 8/10/2007
87,006,936 shares of common stock are issued and outstanding as of August 10, 2007.
Laiwang Zhang ................... 12,539,802 14.4%
Dongdong Lin .................... 4,984,108 5. 7%
Chengxiang Yan .................. 0 n/a
Fanjun Wu ....................... 1,732,052 2.0%
All officers and directors
as a group (four persons) ...... 19,255,962 22. 1%
COMMON STOCK
During the year ended April 30, 2006, the Company issued 15,500,000 shares of common stock in connection with the exercise of common stock warrants for proceeds of $2,350,500.
During the year ended April 30, 2006, the Company issued 4,960,000 shares of common stock in connection with the exercise of common stock options for net proceeds of $161,500 and share subscription receivable of $3,680,000.
During the year ended April 30, 2006, the Company issued 2,660,000 shares of common stock, valued at $438,991, for services rendered. In connection with the issuance of these common shares, the Company recorded stock-based consulting expense of $235,058 and deferred consulting expense of $203,933 based on the fair value of common shares issued at the end of each month of the service period. Additionally, effective January 1, 2006, the Company entered into a new three-year agreement with China Direct Investments, Inc. to provide business development and management services. In connection with this new agreement, the Company issued 2,430,000 shares of common stock. The Company valued these services using the fair value of common shares on grant date at approximately $.23 per share and recorded deferred consulting expense of $558,900 to be amortized over the service period. For the years ended April 30, 2007 and 2006, amortization of deferred consulting expense amounted to $254,280 and $84,760, respectively.
On February 7, 2006, the Company issued 5,000,000 shares of common stock to acquire the 20% minority interest of Qufu based on 20% of the shareholder equity of Qufu. In connection with the issuance of these common shares, the Company holds a 100% ownership interest in Qufu Natural Green Engineering Company, Limited. The acquisition of the remaining 20% of Qufu was a non cash transaction, whereby we issued 5,000,000 shares of our common stock to acquire the remaining 20% of Qufu. The minority interest income for the year end April 30, 2006 represents the minority interest's proportional share of Qufu's net income up until the date we acquired the minority interest ownership in Qufu. The Company recognized stock based consulting expense of $179,994. This amount of $179,994 represents the difference between the purchase price of $2,775,000 (5,000,000 common shares at $.555 per share) and the valuation of the minority interest of $2,595,006 that was purchased.
During the year ended April 30, 2007, the Company issued 650,000 shares of common stock for services rendered (See Note 7). In connection with the issuance of these common shares, the Company recorded stock-based consulting expense of $286,000.
During the year ended April 30, 2007, the Company issued 305,000 shares of common stock for services rendered (See Note 7). In connection with the issuance of these common shares, the Company recorded stock-based consulting expense of $152,500.
During the year ended April 30, 2007, the Company issued 1,200,000 shares of common stock for services rendered (See Note 7). In connection with the issuance of these common shares, the Company recorded stock-based consulting expense of $9,863 and deferred compensation of $590,137.
On March 23, 2007, the Company completed the sale of $4,121,250 financing of units of its securities consisting of 9,812,500 shares of common stock at $0.42 per share and common stock purchase warrants to purchase 9,812,500 shares of common stock ("March 2007 Private Placement"). The warrants are exercisable at $0.65 per share and are for a term of five years. A placement agent for the transaction, Skyebanc, Inc., received a cash fee of $15,960 and warrants to purchase 38,000 shares of common stock on the same terms as the investor warrants referred to above. The Company paid due diligence fees to certain investors or their advisors; such fees consisted of an aggregate of $151,305 in cash and warrants to purchase 718,250 shares of common stock on the same terms as the investor warrants referred to above. The Company paid consulting fees in relation to the March 2007 Private Placement of 225,000 warrants under the same terms as the investor warrants referred to above. The Company also paid professional fees in connection with this offering of $150,360.
COMMON STOCK PURCHASE WARRANTS
In July 2004, in connection with a private placement, the Company granted two year common stock purchase warrants to purchase an aggregate of 1,500,000 shares of the Company's common stock with an exercise price of $0.167 per share. These warrants contain standard anti-dilution protection for the warrant holder in the event of stock splits, recapitalization or reorganization by the Company. All 1,500,000 warrants have been exercised during the year ended April 30, 2006.
On April 12, 2005, in connection with a private placement, the Company granted Class A Common Stock Purchase Warrants to purchase an aggregate of 13,125,000 shares of the Company's common stock. Each warrant entitles the holder to purchase one share of common stock for a period of five years, at an exercise price of $0.15 per share, subject to adjustment. Additionally, in connection with this private placement, the Company granted Class A Common Stock Purchase Warrants to purchase an aggregate of 375,000 shares of the Company's common stock for a period of five years, at an exercise price of $0.15 per share as a placement fee. The number of shares issuable upon the exercise, and the exercise price per share, are subject to adjustment in the event the Company issues additional shares of common stock as a dividend or other distribution or for stock splits or combinations. The number of shares of the Company's common stock and the exercise price of the warrant are also subject to adjustment in the event the Company issues additional shares of its common stock or any other securities which are convertible or exercisable into shares of its common stock at a per share price less than the exercise price of the warrant, other than in certain specific instances, in which event the exercise price of the warrant would be reset to the lower price. All 13,500,000 warrants granted in connection with this private placement have been exercised during the year ended April 30, 2006.
On May 1, 2005, the Company entered into a two month agreement with China Direct Investments, Inc., a related party, to provide consulting and advisory services to assist the Company. The consultant received an aggregate of 500,000 Class A Common Stock Purchase Warrants to purchase shares of the Company's common stock at an exercise price of $0.15 per share for one year. The fair value of this warrant grant was estimated at $0.029 per warrant on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions dividend yield of -0- %; expected volatility of 45 %; risk-free interest rate of 4.00 % and an expected holding period of 5 years. In connection with these warrants, the Company recorded stock-based consulting expense of $14,564. All 500,000 warrants granted in connection with this agreement have been exercised during the year ended April 30, 2006.
CONSULTING AGREEMENTS
In January 2006, the Company issued the remaining 1,330,000 shares due under this contract and entered into a new consulting agreement with China Direct Investments, Inc. In connection with the required 2,660,000 common shares under the original consulting agreement, the Company recorded stock-based consulting expense of $235,058 and deferred consulting expense of $203,933 to be amortized over the new contract term of 36 months, commencing January 1, 2006, based on the fair value of common shares issuable at the end of each month of the service period at shares prices ranging from $.11 to $.20 per share.
Effective January 1, 2006, the Company entered into the new three year agreement with China Direct Investments, Inc. to provide business development and management services. In connection with the new agreement, the Company issued 2,430,000 shares of common stock, plus the remaining 1,330,000 shares previously required remaining to be issued under the June 2005 service agreement.
The Company valued these 2,430,000 shares using the fair value of common shares on grant date at approximately $.23 per share and or $558,900. The remaining deferred compensation of $203,933 from the earlier issuance, plus the January 1, 2006 stock issuance valued at $558,900 for a total of $762,833, are to be amortized over a 36 month service period commencing January 1, 2006. For the years ended April 30, 2007 and 2006, amortization of deferred consulting expenses amounted to $254,280 and $84,760, respectively.
On April 24, 2007 the Company entered into a consulting agreement with CDI Shanghai Management Co., Ltd. In connection with this agreement, the Company issued 1,200,000 shares of the Company's common stock, valued at $600,000, to be earned over the term of the agreement which is due to expire on April 30, 2008. For the year ended April 30, 2007, amortization of deferred consulting expenses amounted to $9,863.
On April 30, 2007 the Company and its wholly owned subsidiary Sunwin Stevia International Corp. entered into an agreement with China Direct Investments, Inc. Under the terms of the agreement China Direct Investments, Inc., shall assist with the business development efforts related to Sunwin Stevia International Corp. including but not limited to efforts related to the OnlySweet line of products. As consideration for these services China Direct Investments, Inc. shall be entitled to receive an annual fee, in perpetuity, equal to four percent (4%) of the annual gross sales revenue generated by Sunwin Stevia International Corp. and/or its proprietary line of products (the "Annual Fee"). The Annual Fee shall be calculated after each fiscal year end and shall be paid quarterly in four (4) equal installments to Consultant over the following fiscal year at the dates of March 31, June 30, September 30 and December 31. This Annual Fee shall continue in perpetuity and survive any termination of consulting services rendered by Consultant to the Company. In the event of any sale, merger, transfer of rights or disposition of assets of Sunwin Stevia, the Annual Fee shall survive and continue to be paid to the Consultant by the acquirer(s).
(2006 year end)
$6.7M Cash
$4M Total Liabilities
$22M Shareholder Equity
Stock-based consulting expense 987,229
NET (Loss) INCOME (578,543)
kozuh, I haven't studied SUWN but I'd bet if one were to go back into those old filings re: the reverse/merge with Network USA, one would find ample distribution abuse. Googling names, addresses, and phone numbers from those older filings is also worthy dd.
UTVG is one I am looking at. I think one would have to be nuts to hold that stock.
UTVG now ties to the Shennan Zhong Rd P.O. Box with several other shady china stocks sharing that address.
UTVG (third party?) pays QualityStocks.net to pump the stock. QualityStocks is the absolute worst of the online pumpsites, imo. Check Quality's list of pure scams pumped-for-pay in his disclaimer below?
"UTVG: QualityStocks received $10,000 from third party for 60 days of services."
http://www.qualitystocks.net/disclaimer.php
And UTVG has the ex-CEO likely blowing out his entire 8M shell shares and then failing to disclose. 2.5M "gifted" in Form-4 last year for "no consideration" and the other 5.5M shares missing, no updated disclosure filing from a more than 10% executive owner.
lentinman, not intended as a "bogus" list. I wouldn't even attempt to dd that many stocks with any accuracy. I'm sure there are many in that list that should be considered legitimate.
My reasons for posting the list were more as a reference in determining future "saturation" and the effects going forward. We are speculating on that 75% not there 3 years ago and doubling in 3 years. That list could eliminate future statistical speculation, adding to it, updating it, etc.
I don't know, rogue. All of you should read that HEK story, the first NYSE "blank-check" spac.
"Our listing on the New York Stock Exchange is a milestone for our Company," said Dick Heckmann, Chairman and CEO of Heckmann Corporation. "We are very proud to be the first Special Purpose Acquisition Company to be approved for listing on the NYSE and anticipate this platform will bring improved visibility for our Company."
All the sleazy promoters happy as a lark too, no doubt, no more costly IPO's with drawn out S-1 prospectus' for we investors. Just form a shell and r/m some scammy numbers.
I'm predicting soon they'll change their symbol to:
OTCNYSE
Of note in the list, I listed NYSE-HEK together with OTCBB-CWDK because HEK recently announced a $625M buyout of CWDK. This is an interesting combination because HEK is a spac touted by the NYSE and CWDK is about as scammy as they get.
"We are very pleased to have Heckmann Corp. as our first Special Purpose Acquisition Company," said Noreen M. Culhane, EVP, Global Corporate Client Group, NYSE Euronext. "Special Purpose Acquisition Companies provide opportunities for investors and issuers previously available to professional investors only. After careful marketplace analysis over an extended period of time, we decided that recent changes in sponsorship, scale and deal structure warranted the listing of SPACs on the NYSE."
http://www.marketwatch.com/news/story/heckmann-corporation-list-new-york/story.aspx?guid=%7B9ED18D31%2DF63A%2D48E0%2DBFF5%2DD74C0844669C%7D&newsid=929421413&&dist=bigchartssymb=HEK&sid=2962231
The list is a compilation of both your and researcher's lists at VMC plus a search for "china" boards at Ihub and searching several other blogging sites over a few month period. You know my attitude toward the entire china-sector so for me it's to show (myself) the over saturation occuring in the entire sector.
Just 3 years ago, probably 75% of those stocks did not exist and in 3 more years, barring any china r/m sector implosion, I would guess that list will double.
jmo
I haven't ever really studied NOEC in depth. That is certainly a very interesting post though even if it is from YAHOO boards, lol. Thanks, I'll look into it more as time permits and please keep me updated if you hear any more?
Also I had forgotten about that old post you responded to. SYTE just keeps ticking away. Any eps posting in thier upcoming Q-2 filing will make 16 eps's in a row in a stock trading at ten cents. Some might just be consuming too many chinese mushrooms but that's just mo.
China Stock List Smorgasboard
OTCBB:
AAAC 7.90
AGMB 0.22
AIDA 0.82
ALIF 2.40
ALRC 3.01
ASAQ 5.86
ASTTY 0.39
AWSH 1.20
BJGLE 0.192
BPMA 0.29
CAAH 0.065
CAGC 2.49
CAGM 1.25
CAXG 1.54
CBEH 7.75
CBPC 0.004
CBPO 2.90
CCCHF 6.10
CCGY 0.92
CDGT 0.10
CDSG 0.63
CDTR 0.032
CGDI 1.05
CGRH 0.10
CHAS 0.09
CHBP 0.20
CHBU 0.55
CHCG 1.67
CFQUF 8.25
CHFY 0.75
CHGI 2.15
CHHL 0.028
CHID 0.05
CHIO 4.70
CHLO 0.75
CHMD 0.006
CHMO 0.15
CHGS 2.40
CHNG 6.30
CHRN 0.77
CHSH 0.12
CIIV 4.50
CIWT 4.85
CJYF 4.00
CKGT 0.66
CMFO 3.38
CNAG 0.03
CNCN 0.24
CNOA 0.88
CNSJ 0.40
CNUV 0.042
COFI 0.135
CPHI 2.29
CREG 1.26
CRJI 1.51
CRTP 4.00
CRUI 4.00
CSGH 1.07
CSOF 0.10
CSOL 2.00
CSXB 0.15
CTFO 6.20
CVDT 0.52
CVVT 5.00
CWDK 6.80
HEK 8.396
CWEY 1.16
CWLC 0.002
CWSI 4.85
CWTD 0.04
CYID 1.85
CYIG 4.50
CYTV 0.049
CYXI 0.82
CYXN 1.28
DGNG 1.08
DOMR 0.00
DRGG 0.08
DRGV 0.014
EBIG 0.055
EESC 0.95
ENHD 5.00
ETLT 0.47
EVGY 4.60
FEEC 0.585
FOCP 5.75
FRTW 0.016
GCME 0.01
GHII 0.50
GFRE 2.33
GTEC 0.2999
GUPR 0.02
GZGT 0.065
HDRX 0.07
HFGB 1.05
HHGM 7.50
HKRS 0.42
HKWO 8.00
HLSYF 6.75
IAGR 0.004
ILVL 0.13
INAI 0.00
JNGW 5.40
JPAK 1.25
KWBT 0.078
LEGE 3.68
LTSC 1.99
LOGE 0.16
LWLL 0.25
MYST 0.196
NMCH 0.05
NWCN 1.50
NXMR 0.064
OPAI 0.29
PUDC 0.55
RHGP 1.31
RINO 10.40
SFBE 0.30
SGAS 1.80
SGTI 3.27
SGUS 0.20
SGZH 10.51
SKBI 1.09
SMGH 0.0899
SNMO 0.10
SNYD 0.48
SOBM 0.35
SOEN 0.73
SOPW 1.28
SRRY 0.42
SUWN 0.35
TBYH 2.30
TYNP 3.20
WCRF 4.00
WEMU 8.98
WUHN 8.25
WWBP 0.03
WWEI 0.065
XHUA 0.011
XNYH 0.65
YUII 7.35
UPLISTED:
ADY 12.77
APWR 23.05
ARWR 2.599
BEST 3.49
BJGP 7.49
CAAS 6.50
CAST 4.49
CHDX 23.47
CHLN 5.10
CHNR 22.34
CPBY 7.09
CSY 13.32
EFUT 16.66
GRO 4.78
HOGS 11.56
HRAY 2.98
HRBN 17.68
KNDI 5.03
KUN 4.21
NOEC 5.91
NWD 0.71
OCLS 3.90
ORS 2.12
PEAK 1.97
SHZ 3.68
SPRD 9.25
SUTR 7.44
TBV 1.85
TSTC 4.72
WATG 8.63
VIT 11.46
UPLISTED W/OPTION TRADING:
ABAT 3.96
ACTS 3.44
AOB 11.79
CBAK 4.20
CDS 8.60
CFSG 11.63
CISG 16.23
CNTF 4.97
COGO 13.59
CPSL 5.38
CSIQ 37.50
CSR 20.041
CTDC 6.164
CTRP 58.57
CYD 11.60
FEED 15.00
FMCN 38.19
FSIN 19.51
FUQI 10.79
GIGM 16.81
GRRF 5.00
GSI 10.65
HIMX 5.77
HMIN 24.04
JASO 20.20
JRJC 23.80
KONG 4.56
LDK 42.40
LFT 18.40
LONG 8.441
LTON 2.10
NED 7.16
RCH 9.15
SDTH 8.19
SEED 6.45
SNDA 31.01
SOHU 85.98
SOL 23.49
SOLF 20.00
SORL 6.08
SSRX 10.60
SVA 4.02
TCM 8.70
VISN 19.51
XFML 2.98
XIN 8.80
YGE 20.01
YTEC 13.15
CRJI - the "Products" link at their website is too much.
"have specialty in high strength and fast harden."
http://www.chinarunji.com/Product.asp
I have utmost respect for any individual to make lingual mistakes in attempting to speak a foreign tongue but that is a public website advertising to a global audience, not an individual making chit chat. And those candlesticks at the top of every pagelink certainly add a nice touch in letting us all know who their customers really are.
littlejohn, L-R-S-T? I did a few name and address searches and all came up empty ringing no bells here.
BJGL & UTVG? Did you make the connection? The BJGL r/m shell architects used a young woman, Jing Jiang, age 25 to front as the "blank check" stage CEO just prior to the merge with the china co.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204%2D07%2D046534%2Etxt&FilePath=%5C2007%5C08%5C27%5C&CoName=BEST+CARE+INC&FormType=SC+14F1&RcvdDate=8%2F27%2F2007&pdf
Ms. Jiang shares the same address with ex-UTVG-executive Jun Xiao.
PO Box 031-114
Shennan Zhong Road
Shenzhen City
PR China 518031
The same UTVG-ex that gifted 2.5M shares in Form-4 "to three persons for no consideration" and is mysteriously missing his remaining 5.5M shares from previous filings.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001193805%2D07%2D001895%2Etxt&FilePath=%5C2007%5C07%5C24%5C&CoName=UNIVERSAL+TRAVEL+GROUP&FormType=4&RcvdDate=7%2F24%2F2007&pdf
researcher, CPSL (china steel play) also getting hammered the past 3 sessions with two gaps, one filled and one to go. Also holding puts in CPSL.
Keeping track of probable cooked books (filed) in this china sector is a most worthy dd, imo. Adding to the list of those recently going pink:
AGMB @ 9 months = filed 8.8M revenue/4.2M income.
CGRH @ 9 months = filed 74.5M revenue/2M income.
CNAG @ 12 months = filed 51M revenue/3M income.
GUPR @ 9 months = filed 23M revenue/3.8M income.
RHGP @ 9 months = filed 21M revenue/8.4M income.
SGUS @ 9 months = filed 8.2M revenue/2.3M income.
SNMO @ 3 months = filed 11M revenue/50K income.
CGRH listed above is another Terry Cook architected shell along his two others, CXTI and CNEH.
Nice call and prompt too, lol. Couple questions, one simple, one involved?
1. When you stated a "retrace to yesterday's high", did you mean the 'open' gap must close completely, in FPP's case to close the gap just above $6.00?
2. GSI is another interesting highly questionable china-r/m stock with a clear 'open' gap at $4 formed on July 1, 2007.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=gsi&sid=0&o_symb=gsi&freq=1&time=9
But the spike to $8 only seems to meet two of your applicable 3 factors, parabolic and new 52-week high. GSI (then GSHO) had news in the form of a Barron's article that weekend:
7/1/2007
Interview with Peter Siris, Managing Partner, Guerilla Capital Management
Barrons: Give us one more Chinese stock.
Siris: How about General Steel [GSHO]? It has a great story. The company was founded by some farmers as the first privately owned steel company in China. It scavenged equipment that was being thrown away by a local government steel mill. Deng Xiaoping came and blessed it. It recently announced joint ventures with two big Chinese steel companies. General Steel should make about 40 cents a share this year, and next year as these joint ventures start to hit, it should make $1.50, with over $2 the year after. The stock is at 3.75. Eventually mainline analysts are going to pick up coverage of these companies because they're real businesses with exciting growth stories.
The GSI $4 'open' gap has not closed completely? I would welcome your analysis of that GSI chart?
One more item: in a search at "findarticles.com", GSHO.OB was frequently pumping with those stock pump sites, stockguru, otcstockpicks, etc. Most uncharacteristic of a company to be paying pump tout services when just two years later the company is operating at $178M quarterly revenue?
GSI offers put options of which I own some and am bidding more.
researcher, should we add GUPR to the current VMC list of 5 official china reverse/merge scams yet or wait for more evidential formality?
ari5000:
Added some CFSG puts and sold some of my CTDH .03's. Intend to add some AOB and CFSG puts tomorrow if available at my bid and will buy back my CTDH in weakness or possibly sell the rest (small position) in any more strength.
ENHT: I am holding. Not being a chinaR/M distribution scam, ENHT doesn't have the benefit of fortune cooking their numbers at will so any ENHT eps estimate remains up in the air.
jmo
ari5000, I have since scrapped any shorting china experiments. Too much unlimited risk/limited reward for my risk/reward tolerance.
I am now experimenting with buying put options. Filled several AOB lowball'ed bid puts today on the exhuberant buying frenzy. Most amazing today's AOB action $60M daily volume in a china R/M distribution scam.
My fundamental approach toward the entire sector has only hightened from my previous post above.
Is CNOA resorting to spam? Has anyone requested confirmation of the post below from the CNOA board?
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28624534
gilead, thanks. My specific interest was in the FEED dialogue and it's china R/M shorting aspect, not DPDW. But since so many are posting DPDW, here's my two cents.
I thought littlefish DD posts were right to the point and I would add the DPDW market cap is way too pricey, imo, for such a new company playing so many all too familiar dilution games?
DPDW is talking about future revenue, doing some serious diluting, and trading at a $100M market cap.
ENHT is already doing $30M revenue, not diluting, and trading at a $5M market cap.
NEAH is already doing $73M revenue, not diluting, and trading at a $850K market cap.
Another question from the bottom of that copy/paste?
"pursuant to temporary rules of the SEC that permit the company to provide only management's report in this annual report."
What temporary SEC rules are they referring to? That is a 10-K filing that I thought was now subject to the new SOX regulations, holding the executives fully responsible?
While scanning FEED, I came across similar - "did not maintain effective controls...constitute a material weakness" - verbage. Is this now a common boilerplate added to all/most filings? I've never seen it before.
http://www.sec.gov/Archives/edgar/data/1331427/000089016308000235/s11-8333_10k.htm
"Remediation of Material Weakness
As of December 31, 2007, there were control deficiencies which constitute as a material weakness in our internal control over financial reporting. We have authorized the addition of additional staff members to the finance department and information technology department to ensure that it has the depth and experience to implement and monitor the appropriate level of control procedures related to all of our feed and pig farm locations and corporate office.
In addition, we are taking steps to unify the financial reporting of all of our feed and pig farm entities. We are in the initial planning phase of upgrading, where possible, certain of our information technology systems impacting financial reporting. We are currently planning further integration of information technology policy and procedures and evaluating them as they impact all our subsidiaries to provide accurate and complete financial reporting information.
Through these steps, we believe we are addressing the deficiencies that affected our internal control over financial reporting as of December 31, 2007. Because the remedial actions require hiring of additional personnel, upgrading certain of our information technology systems, and relying extensively on manual review and approval, the successful operation of these controls for at least several quarters may be required before management may be able to conclude that the material weakness has been remediated. We intend to continue to evaluate and strengthen our ICFR systems. These efforts require significant time and resources. If we are unable to establish adequate ICFR systems, we may encounter difficulties in the audit or review of our financial statements by our independent public accountants, which in turn may have a material adverse effect on our ability to prepare financial statements in accordance with GAAP and to comply with our SEC reporting obligations.
To date, we have spent approximately US$100,000 in connection with the remediation of our material weakness. We expect to spend an additional US$200,000 on remediation plans to achieve our goal for 2008.
In conducting an assessment of the effectiveness of AgFeed’s internal control over financial reporting, the Company purchased 90% ownership of Lushan, in a stock purchase agreement on November 6, 2007, which has been excluded from management’s report on internal control over financial reporting. Lushan constituted 7.35% and 0.34% of AgFeed's total assets and revenues, respectively, as of December 31, 2007.
Inherent Limitations Over Internal Controls
Because of its inherent limitations, internal control over financial reporting may not prevent or detect all errors or misstatements and all fraud. Therefore, even those systems determined to be effective can provide only reasonable, not absolute, assurance that the objectives of the policies and procedures are met. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
This annual report does not include an attestation report of the company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the company's registered public accounting firm pursuant to temporary rules of the SEC that permit the company to provide only management's report in this annual report."
CFSG should be #1 on anyone's short china r/m list, imo. CFSG stock is really a Cuban play now. If Cuban was to do an about-face and claim he messed up, CFSG could go on a tear but I have serious doubts of that happening. CFSG should breakdown below that $3.55 low and soon.
AOB looks to be especially fundamentally weak. YTEC and WATG are two I'm still studying for fundamental weaknesses.
I don't really have any price targets, per se. I am still awaiting the 5/15/08 Q-1 filing date as another possible sectorwide upsurge and oppurtunity to short high.
researcher, anyone taking my advice got "burned"? What about this response from 3/19 in response to your specific inquiry? Do I sense some tunnel vision?
So my answer to your question is SUTR might not be a good short at $3's from strictly a technical view.
http://investorshub.advfn.com/boards/replies.asp?msg=27755996
So anyone taking my advice may or may not have done well. The 'technical' tunnel vision on this board with respect to these distribution china r/m's is nothing short of amazing with so many FUNDAMENTAL flaws across the entire sector.
fyi, I've had orders placed to short SUTR all week at high $6's but got too greedy. SUTR is a fundamental mockery. I fully intend to seek shorting SUTR again.
jmo
BJGL - lowlights from the 10-K:
Revenues $ 85,916,514
Accounts receivable $ 853,341
Yu Zhang CEO (1) Salary $ 3,634
Yu Zhang CEO (3) Beneficial Ownership 0
A CEO that holds collections that unbelievably tight in an 86M revenue corp is compensated less than $4K and owns 0 shares?
These china reverse/merges read more like Dr. Seuss "Green Eggs and Ham and Sam I Am" with every new one that comes online.