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...All announcements are distributed through a proper press release when news is completed.
According to this tiny statement, it sounds like there's news in progress and will be announced when it is completed. All the best!
This stock might dip below .10 level soon, which I am not surprised to see. Thank god I didn't get in @ .20, otherwise it would have erased almost half of the value of my shares. I'll continue to be on the sidelines until who knows when.
Thanks Rakos for the advice.
I will do my DD for sure but for now, I just stay on the sideline. I will keep this stock on my watchlist and continue monitoring its movements and when I feel the time is right regardless of its pps, I will jump in. At that point, I could be raking in cheap shares or buy in at higher price and stay in for a while. Good luck to you too!
OMG! Thank you so much for sharing this, I just got off the phone with TD Waterhouse to cancel the buy order of 50K shares @0.20 after reading your post. For some reasons, it did not allow me to cancel using the online tool so I immediately called the broker, he couldn't do it either and tried a few times and finally got through, however, it said "pending cancel" so he said it should be canceled by the next business day, otherwise, I have to call back tomorrow morning before the market opens and request to cancel again.
I was alerted by one of the investment firms this morning but tried to be cautious so I placed the buy order below the previous day's closing price just to be on the safe side. Thanks again for alerting this and good luck investing!
I find that a bit insult, investing in the company is really our own choice, no one forces us to do so. It's just my 2 cents. Good luck investing!
That's what it said in the last 10K, the company was looking for completion of the merger into the third quarter of this year of which, the quarter we are on right now. Either in the 10Q the company also announces the merger completion, if not, and according to the 10K, we should hear something any day now within this quarter. GLTA!
Don't know what's going to be brought on the 15th when they release the 10Q, we'll see. However, in their 10K, it was mentioned that they tried to complete the merger into the third quarter of this year and we are in the third quarter now, so the merger news will either be included in the 10Q or it will be on a separate PR. All the best!
No, it's a month and a half, not 2.5 as June 30 ends a quarter which is also beginning of July so August 15 is a month and a half later.
10-Q: for Quarterly Period Ended 06/30/11 due Monday, August 15, 2011
Excellent point!
Hello Bruce, thanks for all the advices that you have been giving to all of us here regarding this stock, however, we all hold shares of this company and wait for the big news to come which should occur within this quarter as stated on the recent 10K so whether it is a good or bad result, it will be announced regardless. I am a total rookie in the stock markets and just want to ask you a quick question, evidently, you do not hold any position in this stock so my question is, why are you here and why do you keep hanging on to this board?
Please do not find my question offensive but rather just a rookie question and I sincerely wish you all the best sir.
CreamSoda
My pleasure TopJet!
All the best to us on this stock!
You can find the statement in the recent 10K filing, here is the paragraph:
According to a recent appraisal prepared by an accounting firm in accordance with China accounting standards, the Chinese company has net assets worth RMB 370 million (approximately US $54,000,000) and will generate annual revenues of RMB 100 million (approximately US $14, 000,000) after its completion of construction of Phase I and execution of rental contracts business in early 2011.
FHH Sino is currently in construction of its Phase I and has completed all the foundation and infrastructure for its 8 storage tanks. This infrastructure includes the supporting facilities and pipeline connecting to the harbor, which is just 600 meters away from the storage facilities.
FHH Sino provides petroleum storage tanks for rental to petroleum companies such as Sinochem and Sino-Petro, as well as being engaged in the business of local fuel oil distribution. FHH Sino has its Phase II planned and has received official approval from the Chinese authorities for additional storage tanks of 450,000 m3 and expects to commence construction of Phase II in late 2011.
The Company and FHH Sino are working together on the related merger agreements and auditors have been engaged to commence an audit of FHH Sino in preparation for the merger.
The Letter of Intent is subject to (i) the execution of a mutually acceptable definitive merger or exchange agreements: (ii) there being no material adverse change in the financial condition, business or prospects of the Company prior to closing; (iii) final investment committee approval; (iv) local government and regulatory approvals; (v) extension of existing employment contracts for the Company's management; and (vi) and a guarantee of buy-back or exchange of common stock for preferred stock (not to exceed U.S. $2,300,000) currently held my the Company's officers or investors.
Upon signing of the Letter of Intent, FHH Sino made a U.S. $230,000 good faith deposit with the Company.
Our President, Kenneth Yeung, has been working diligently on this transaction and we hope to close this transaction in the third quarter of this year. However, we can provide no assurance that this transaction will, in fact, come to fruition, as it is dependent upon a number of factors that may not occur or that we may not be able to control.
I almost got into this stock when I received the alert from some sources but good thing I looked at the OS, it showed 2.7B and the price is over a dollar which is quite too high so I held off my order. Was going to get in at 1.80 but good thing I didn't do it. Good luck to all you folks!
Thanks so much.
The part that tells me that the merger is still on is "...when items of news are complete", I think he's hinting, items are being finalized before they put out the big news which makes perfect sense.
If possible at all, can you post the content of his email please. Thanks!
Thanks for the input, I plan to stick around anyways. Good luck to you!
I don't have a whole lot of shares in this company but just some. Just one rookie note, how can a merger be announced completed when FHH Sino is still under construction? Shouldn't it be in full operation before the announcement can be officially made? According to the 10K, they expected the merger to complete in the third quarter of this year and we are into almost half of the second quarter so might as well wait a little more. I'll prolly pick up some more to average down my holding. Good luck guys!
I am just a rookie here so I need some answers from you experts. NUBL acquires a subsidiary of CCTR and this sub. brings in $22M in revenue for CCTR, so if NUBL acquired it, meaning revenues for CCTR will reduce significantly. Looking at NUBL's revenues and its stock price, how is it going to come up with the money for this acquisition? Or is it going to issue its stocks for this transaction (@0.0001)? If this sub. brings in $22M of revenue, how much CCTR is willing to sell it for?
I am kinda puzzled on this merger not sure how it works. Your opinions are greatly appreciated.
Best of luck folks!
Yeah I agreed. Something that I cannot understand, a multi-million-dollar company with a stock price way below a penny is kinda odd to see.
The good thing is it seems that people are holding tight. Good luck folks!
Not sure why but it seems like people are losing faith in this company as everytime there's a pr, the stock is beaten down, so I think dilution is the major problem here. Ah well, I am holding on. GLTA!
10K due out today, no?
http://www.secfile.net/SEC_calendar.htm
Isn't today the deadline for the 10K or the company will file an NT 10-K by 5:30pm, am I correct?