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Its on Yahoo. Look here:
http://finance.yahoo.com/news/wowjoint-holdings-limited-reports-second-000700729.html
Look towards the bottom of the info (Business Update). I'm not making this stuff up guys.
Web Site. Look at www.wowjoint.com for company info.
I read about it in their financials. I don't know exactly when it was but I do recall reading about it in their last filing again. Go check out their latest filings
Some companies don't like to release news on simple tasks but I do know (from reading the financials) they have a good business and it seems to be growing.
Now if there is news what will it say? Update on the business? Clues to what they are doing? Update on the deals they signed in January? ???????? Maybe something big is about to be announced and they are under contract not to say anything until the deal is signed? ?????????
Sorry to hear you have taken a paper loss. But you are still holding so that says something about your belief in the future of the company.
Regarding "going private", yes I read about this too but some of the companies are in trouble (bad financials, sub penny, or worse). Others are strongly priced with a good balance sheet and want out of the regulatory markets.
I guess we will see. What are your thoughts on the company today? Did you read the financials?
Sorry to hear you have taken a paper loss. But you are still holding so that says something about your belief in the future of the company.
Regarding "going private", yes I read about this too but some of the companies are in trouble (bad financials, sub penny, or worse). Others are strongly priced with a good balance sheet and want out of the regulatory markets.
I guess we will see. What are your thoughts on the company today? Did you read the financials?
mAllen77, They have until the end of October regarding the Nasdaq Bid price issue and if they miss the $1.00 mark I am sure they will ask for an additional 180 days (common practice).
I've seen companies reverse just to satisfy Nasdaq bid price deficiency notices and most were worse off at the end of the day.
BWOW seems to have a great IR team and puts out informative news. Time will tell, we still have a few months.
I just hope they don't turn this thing into a spamming or email blast campaign just to get up over $1.00
3rd qtr revenue is estimated at $1M to $2M USD.
Kristy1025, I think you may be misunderstanding what was written. Fact, the Chinese economy is slowing. BWOW does have a competitive advantage and is starting to take advantage of that by expanding into overseas markets (Malaysia and Peru). Its a good thing when a company can leverage its specialty to grow when an economy is slowing down. BWOW seems to have a bit of a set back, which is expected but time will tell.
Nevertheless, I was paraphrasing what the company wrote in their filings.
The Chinese economy is slowing, reducing infrastructure spending. Its a smart decision for management to be focusing on overseas markets: Malaysia and South America.
Since we are on the subject of contracts. Look at these 3.
* Sale of a 25-ton marine hoist - $250,000 value.
* 10 month leasing contract to provide a 900-ton special launching carrier. Lease began August 1, 2012 - $930,000 value.
* Service contract use one of WowJoint's 900-ton special launching carriers. Service begins August 15, 2012 - $850,000 value.
They have 2 contracts in Malaysia.
Don't get me wrong, I appreciate the calm fashion that VKIN is taking verses blasting news of worthless information. I guess Tom has big plans and is incubating VKIN for reasons only he knows. Maybe he doesn't want the stock to trade wildly on rumors or speculation and when the time is right release news. But with a tight float any news could pop this thing so he must be holding back. Maybe?
Expanding the business is great. We learned they were coming here (USA) to look at a few deals. What happened to them? I mean all we know is what is put down in their quarterly reports.
Ok, I get that but from an investors standpoint (non Chinese), we have to read about what the company does in the filings. I'm just saying it would be nice to see what this stuff says on the Chinese web site.
So far in 2012 the company has expanded its customer base, began construction on their R&D, and focused on increasing international business.
Look into the overall company's motivation. They have a competitive advantage as that they provide customized equipment for their clients.
Ok this is great news (old news nonetheless) so what about an update. Its August, lets hear an update.
Hey everyone:
Effective January 1, 2012 and January 9, 2012, the Company entered into Letter of Intents with two new Chinese companies located in Beijing and Shanghai to provide those companies with consulting and general business development services, including consultation regarding potential stock listings through reverse mergers in the United States and other investments. The Beijing client operates over 100 retail stores selling women's underwear. In addition to adding up to 200 more stores in the next two years, the client plans to establish a comprehensive online presence. The Shanghai client, a restaurant and tea house company, operates close to 130 stores in Shanghai and the Hunan province. The client plans to add 50 more stores per year during the next three years and to build a central kitchen serving 300 stores. Upon completion of the listing in the United States, the Company will own a stake in both of those clients.
On January 18, 2012, the Company signed an engagement letter with a Chinese client located in the Zhejiang Province to provide consulting and general business services, including consultation regarding potential stock listings through a reverse merger in the United States. This client is in the apparel business and owns 3 clothing factories, several name brands and operates multiple retail stores in China, and exports some of its products to foreign countries. The client plans to increase its production facility, establish a comprehensive online presence and increase its retail chain in China. Upon completion of the listing in the United States, the Company will own a stake in this client.
Once more people see the financials and understand what BWOW is doing I am sure things will settle down and the stock will begin to move. Remember its all about supply/demand.
The stock price is low (IMO) because it fell below the Nasdaq requirement. Once that happens stock seems to go down until some great news or activity happens.
Second qtr 2012 financial results are out:
Q2 2012 revenue of $1.4 million in-line with guidance
Order backlog is $17.8 million as of June 30, 2012
Gross margins increased to 32.8% for Q2 2012, an increase of 390 basis points from 28.9% in Q2 2011.
Q3 2012 revenue guidance: $1-2 million
Very interesting business, BWOW. I read their filings and they are expanding their business and market. They seem to be very good about getting out news.
I see the Eng version of the web site but when it comes down to the actual business (trading platform) I can't make it out because its still in Chinese. Am I missing something?
Good comparison. It would be wise for the company to give an update or everyone will get off.
Right, the few people we had lost interest. Myself included. Maybe the company closed shop? Maybe I am spending too much time here?
Still a few hours left before market open. Maybe today we get news?
An update this week could get VKIN moving. There are more people looking at VKIN.
Glad there are more people asking questions. I think soon VKIN will release an update. I for one would like to see a business model update and an update on the clients they are meeting in the US.
Moving along. Looks like VKIN is settling in their new location. Just checked OTC Markets and everything is updated. The 8K said it all too. Would like to see some follow up on what they are doing here and maybe even a glimpse at their new business model. Thoughts?????
8k out with new address for HQ. Can we expect a PR and update now? I thought they were going to the USA for a few deals. They relocated HQ and closed the China office? Just asking?
db7, like you I buy companies that are shells in hope for a RM and then a nice pop. Over the past 3 years I've collected about 30 worthless certs from companies that have been knocked down to Skull & Bones or the ticker has been removed (stopped trading). I can assure you my $$$ in VKIN will be small and I WILL NOT do a PPM. I will do more DD but didn't see in the filings where they checked the box for a shell. Too be continued.
I am confused. Is VKIN a "shell company" as db7 said? If that is the case how will they ever raise money? My understanding of a "shell company" is that a buyer of private shares (PPM) is unable to sell the shares until 1 year after the company is no longer reporting as a "shell company"?
Sellers? I saw a $.10 Bid so maybe people are getting filled in-between that weren't getting filled earlier. I know I had an issue getting filled. Nonetheless, its the second largest volume day in three months. Activity is good right?
Since the news came out I starting following it. I like low volume low float companies. I especially like the change of business. I don't post must on iHub but was told I can find some DD about VKIN here. Not much going on but if more of us share info I am sure that will change.
I see there were a few posters before, what happened to them? It would be helpful to get a veterans perspective on VKIN moving forward. Thanks all!
Seriously, 500% increase on a $25 trade?
Don't quote me but I think the market makers need to settle accounts. Look, I know that sounds strange since VKIN doesn't trade much but give me a better reason we have a huge spread.
Hey, does anyone talk with Tom? I see he posts on here form time to Tom. Tom, if you read these please let us know:
1. Info about the companies you are visiting in the US.
2. Are you personally in the US or did you send someone else?
3. Did you move HQ to NYC?
4. Can we expect a PR updating us on the above?