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The company (CSGJ) is going to be very profitable in the future with a new 1 million tons of plant. They also got license to build a million tons of clinker plant to match the new cement plant as well as 2 million tons of cement plant.
There are sveral possibilities here:
(1) File 10K and 10Qs and re-gain the status of listing on the OTC BB and eventually to AMEX and Nasdaq. It is a long shot and may take 2-3 years.
(2) No filing and continue trading on the pink sheet indefinitelly.
(3) Buy back shares from the current US shareholders to control over 95% shares and delist completely. Then theymay think about selling the company or listing somewhere.
(1) and (3) are good for both management and the current shareholders.
(2) is bad for everyone, more so for the current shareholders.
I definitelly hold my shares.
I like LIWA a lot and am still buying. LIWA and LLEN are my top 5 positions.
Another to bear in mind, any this Chinese OTC company can go dark including CRJI.
Nobody knows for sure. The problem is that you cannot sell after this news, the bid is now 7 cents.
One major concern I have, not only for CRJJ, but also for all Chinese OTC BB listed stocks, can they file 10K and 10Q on time?
If anything can go wrong for CRJI, it is that they may not file 10Q on time or at all after this news. This is the only worry.
Whenever we buy these OTC Chinese stocks, it is hard to get out. I was fully aware that and so only gambled the money I can afford to lose and I don't plan to use. I will hold them all, but will not put any new money into it.
The owner has hired a new management team to run the business for them instead of themselves.
I think that it will move to pink sheet if not filing before the market open tomorrow.
I followed GHNA and checked it. I had never bought it for two reasons:
(1) a big selling continue selling even at a very low valuation.
(2) vegetable market is very volatile and price dropped sharply recently. I think that it is a wrong business.
My serious Chinese companies are now LLEN and LIWA, both show profit.
CNTF, AERL and YONG are not my type,
Do you know why I was so interested in these OTC Chinese companies? It is becasue they can turn 30K into $3 million USD, seriously.
It is greed. I had made millions and lost millions from these Chinese stocks. The net results are still 10 bagger from them:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63297426
It has been very tough for anyone playing these Chinese OTC stocks. This is dead sector.
We just cannot trust any OTC BB listed Chinese company. We do our DD to avoid any fraudulent companies at first. Then we choose the legit companies with good financial prospect. But we cannot control the mind of CEO and Chairman who can pull plug anytime, and we stuck. No matter how good these companies and how cheap they are, they can change their mind and leave. They never buy their shares back no matter how much money they have and how cheap the share price is.
I am not going to sink a cent to any new OTC BB Chinese stock. This is a dead sector and a mine field.
By now, I don't think that anyone is expecting a 10K filing after market close. I don't.
Not a concern to me. I think that the street is over react to this. I have not sold a single share anmd don't plan to. I actually plan to buy some if I can get shares under 10 cents.
This is a legit company. Their numbers had passed the audit of a the tough auditor who had given red light to several Chinese companies of NIV, CELM, etc. Their SAIC numbers match their SEC numbers, which are consistent to the performance of other Chinese cement companies in China.
So the replacement of management team has nothing to do with the questions of legit or SEC numbers.
Just called the company. They are all in a meeting.
It is the old plant. Theyb have just got permit for the new 2 million tons of plant, which will take 1.5 years to build.
**I need some help on this,
Dongfang Shuangji Cement Plant?...yellow page link for subscribers...
Yes, that is one of CSGJ cement plants.
For sake of discussion, if they fail to file after market close tomorrow, so the stock will trade on the pink sheet. But if they file a few days later, say next week, for both 10K and 10Q for Q1, how long will take for them to re-gain their OTC BB list status? Does anyone here have experience for such a situation?
Yes, that is what I see it. If they get their act together, with the sector is booming, they can easily make $20 - 25 million USD net earning after they build their clinker plant and their new Dong Fang cement plant.
From what I talked to them regarding that they would file " in the next few days". It did not look like they were lying. I hope that they do file otherwises I would get really sick of these Chinese OTC stocks and companies. We will see.
They were always late filing, but always filed during the extension period before they got "E" except for 2009 when they did get "E", but filed o May 13.
You are welcome, Minding. Hopefully they file before market close tomorrow.
They did say that they were interviewing 3 candidates for CFO position. The reason they said for the dealy of 10K filing was because of their accountant was not familiar with US GAAP. Hopefully, the hiring of new CFO would change that.
They also said that 10K and 10Q for Q1 may come out at the same time.
He did not know the status of the filing since he said that he had been travelling in the last few months. He assigned the job of preparation of 10K filing to his assistant, manager of Mr, Yan.
I talked to Mr. Yan about when we could see 10K filing last week. He said that 10K out in the next few days. I asked whether we could see 10K by last Friday or Monday this week. He said that it would tight. Their grace period ends after market close tomorrow (May 18).
Just talked to CEO twice. First time I talked to CEO, he said that he had been travelling and was not familiar with the filing of 10K and asked me to talk to his assistant, Mr. Yan, a manager who is in charge with 10K. I told CEO that I could not reach Mr. yan after calling him several times. I asked CEO to call Mr. Yan and I would call him a few minutes' later. I called CEO 5 minutes' later and CEO said that he could not reach Mr. Yan either. He said that he would contact Mr. Yan for me and asked me to contact him later.
Congratulation to longs! GFRE has made it and you deserve it.
Net income of $2.06 million USD, another good Q.
http://biz.yahoo.com/e/110516/cihd.ob10-q.html
I would expect selling since no 10K so far. Instead, we had 50K shares bid this morning and then another bought at 0.18. I suspect that someone may have aleardy known 10K about coming out. We will see.
Has anyone seen 10K yet? The way this stock trading today makes me feel the 10K about to come out soon.
No, 25K was actually filled at 0.165.
The order was just changed to 25K. The person may also read this message board.
I hope so. The person who bids 50K shares at 0.165 right now may know that 10K is coming.
Last week.
I asked the company when we could see 10K. They said that 10K would be out in the next few days. i don't know whether I can trust them or not. I will buy after 10K out, but not now.
50K bit at 0.165. I wonder that the buyer knows something about 10K.
Same here. AR is something to watch for. I talked to the company about AR. They said that it should not be problem to collect their AR.
BFTI just post earning report:
http://finance.yahoo.com/news/BEFUT-Announces-408-Increase-prnews-652372942.html?x=0&.v=1
" whitetiger Comments(35) Flacobs;
We were never able to pull GFRE SAIC filings, a problem we have had with other firms in its jurisdiction. As a rule of thumb i do not trust any information provided by companies or their representatives. I would ask Crocker how he received these filings (did he pull them)? I would also ask him to allow a third party to visit the SAT agency. I will say this. The SAT information we pulled (that we have provided Crocker with) was consistent with the "hit piece" data.
5/2/2011 8:02:50 PM Reply "
Most of that naked short position has not delivered yet
http://www.bloomberg.com/news/2011-05-03/nasdaq-threshold-securities-for-may-2-table-.html?cmpid=yhoo
Short position is not big: http://www.otcmarkets.com/stock/CSGJE/short-sales
But there were about 150K naked short position faled to delivered a few days's sgo.
I suspect that they try to cover today.