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Amen to that!
How high did you buy this? I bought it @0.007 in 2008!!! How can I ever recoup it?
Kenneth is just a scam artist. Never had any of his dream plans turning into reality.
Much as I wish to sell high, reality kicks in as long as the hopeless scumbag Kenneth has his dirty fingers & toes in the phantom deals.
LOCN, just took a look, its a small float compared to the gazillions floating around for CRGO. Cannot see it happening with CRGO yet.
Really funny! A deal with Google or Apple! LMAO!!!!
SNRS has & will always remain a scam company. I am still holding my 1 million shares bought about 3 years ago at a high price of 0.0013. And I have not been able to sell it yet at a profit.
Around this time of year, SNRS does its trick again to fool us into thinking its got deals in place. Check the old news for Dec 2009/Jan 2010 and also for Dec 2008/ Jan 2009 to see the recurrent pattern. And watch how the PPS will then move up to perhaps .001 or to .0005-.0007, then plonk back down hard to .0001 again.
Same strategy, different words.
Even if I want to sell, I find it very hard to do so. I share the same sentiments with those of you who are in a similar plight. Why is it so difficult to sell off?
SNRS is just a cheating company playing on our greed. They gain, we the retail investors lose.
There is no way to sell this. If anyone knows how to sell theirs, let me know. I am using Ameritrade.
Huh? How come this is going up on very bad news?
I have been a bagholder of about 4 years since the time that CEO made his trip to China to get deals but came back with nothing & has been nothing ever since.
Someone explain how a non operating shell's PPS can go up from nothing?
I still do not see any value in this yet.
Impact IS Kenneth Yeung. That is my theory. I kind of knew it all along. Did not want to say it too early as I would get bashed by those of you who believe his every word. From a bagholder of more than 2 years of this crappy stock!
Major Public Holidays in China. Expect No action from INBG & FHH Sino. Here are the public holiday dates:
Starting Wed 22 Sept to Fri 24 Sept consecutive 3 day holidays celebrating Autumn Equinox.
Starting Fri 1 Oct to Thurs 7 Oct consecutive 7 day holidays celebrating the founding of Communist China.
It just means that Kenneth has intention to delay due diligence to figure out what to do next. For delays, no need to fill in SEC form. Scam or no scam, Kenneth is no businessman. As I said before, he has no credibility proven thru time & time again.
Kenneth Yeung has NO credibility. He certainly lives up to it. Scam after scam after scam. Kenneth, if this RM thingy drags out a little longer, watch out cos the FBI would be on to you. Forget the SEC this time, I think you need to classify this as fraud by cheating on shareholders with false news. This is recurrent habit of yours, Kenneth Yeung, I had enough of it!
But that is Kenneth's style of ignoring shareholders whenever he does not want to share info. Bad news especially he avoids like the plague.
A bit more confidence? Sounds to me that Kenneth is evasive & avoiding giving the bad news as long as he can hold on.
Come on Kenneth with no track record & for a shareholder like myself holding on for the last 2 years, you do owe us more than a PR, phone call & deflecting blame away from yourself.
Remember the Sichuan earthquake, you were so damn eager to share the news with us when speculation was swirling that you did not know how to solicit business with China officials, you sprang up with a PR promptly once that happened informing us shareholders that you have our interests at heart & business deals were being sourced with Sichuan offficials & then of course in spectacular fashion that is YOUR CLASSIC trademark, Kenneth Yeung, NOTHING HAPPENED.
So this is my continuous rant about your company & YOU, Kenneth.
Looks like my prediction of PR news informing us about delayed due diligence taking a longer time may be coming out soon followed by DEAL OFF before end of this year.
Same thinking as you but I cannot sell as I am one of those who bought at a high 2 years ago.
IF it ever runs. Still sloshing around.
For the simple reason that this company has no track record to speak of & we have invested in this stock perhaps longer than you. For myself, more than 2+ plus years & still counting, bought at a high & still waiting to offload.
Promises made by Yeung to develop sunpanels rubbished out, Sichuan earthquake high falutin PR to say he knows how to do business with China officials & business will take off in rebuilding of Sichuan infrastructure which INBG wanted to be involved in.
What happened to all this? Poof!
My take is 70% merger deal OFF, 30% slim chance of deal on.
How to hold long term IF merger happens? Suppose merger agreement includes buying all existing shares at an agreed price. That means, your shares will automatically be sold at the agreed price & due date.
Another niggling question which some other posters have raised is why did FHH Sino decide on INBG or vice versa to enter into RM?
Is it becos FHH Sino just wants to buy up each share at a very low price of triple zeros? Basement bargain price to enter into the USA equity market to raise capital?
As far as I understand, China's economy is overheated so borrowing from a bank in China incurs a high interest rate of about 5%. That is a very steep interest rate for a commercial loan for FHH Sino to expand its biz in China. What better way to raise capital than to go for RM in the States & buy at bargain basement prices & start trading in USD.
Now compare this to back home here in the States where the interest rate for borrowing is around 0.1% to 0.2 % thereabouts.
USD converts to a lot of money in China yuan currency. Its a no brainer for FHH Sino. What under the table commission cuts Kenneth of INBG gets will be a mystery but I am certain he will get what he wants from FHH Sino.
Its us shareholders who are at their mercy.
If INBG or FHH Sino calls the deal off due to strategic differences or whatever excuse they are going to make, the good faith deposit is non-refundable, yes or no?
Playing the Devil's Advocate here, I still have this gut feeling that both parties entered into the agreement in the hope that the PPS will soar like crazy before any concrete merger new is confirmed if it happens. To date, the PPS is still stuck in the miserable triple zeros & sloshing around the 0.0002 to 0.0004.
So knowing that PPS would not go any further, both parties will go for a delayed due diligence PR then followed by the final PR that the deal is off.
Does someone have the list of companies whose RMs failed to materialize with pathetic PPS during the DD period? I have already seen the post with the list of successful RMs whose PPS soared on the day the RM news was confirmed as green lit so do not repeat that list.
It would be interesting to see the RMs list of companies that never came to fruition after announcement of DD.
Sounds too good to be true based on that post. Know anyone who managed to sell their shares from that RM list posted at its peak or slightly lower than that?
You do NOT need to remind me that I bought in high. Yeung has not done anything concrete with any of his sham dealings with China. Housing project in Sichuan province, poof, another iron ore venture, poof.
So my bet is still on for this to be a sham. Much as I want to exit with a profit, knowing how this has worked in the past, I do not have any bit of confidence as long as Yeung & whichever cronies he works with continue with their charade.
For the simple reason that the MMs know that it is a scam, they know more than we, the retail investors, know. They have seen it so many times happening including the seasoned retail investors.
This is how it would pan out eventually.
1) INBG would soon issue a PR to say that the DD is delayed as they need more time to work out more details. Gives a vague dateline say for another 60 days.
2) When the next 60 days dateline is due, another PR from INBG to say the deal is off due to strategic differences BS with China company blah blah etc.
My bet is it would happen as above.
Well, I got in more than 2 years ago buying at a high of 0.007. It has never hit 0.007 ever since I bought it. I still made a loss. And I am not willing to add more.
So when will it ever hit 0.007 again? I fear it will never.
I will wait out to see whether the merger is true or false. I read all the DDs & I am fully aware that the security deposit has been placed by the China party to INBG.
But, I still think this will all come to nothing again having been scammed by SNRS too.
I am expecting the CEO, Kenneth, to come out to say that the deal is off. Perhaps both parties were expecting the PPS to take off like a rocket. Not having done so, they may call it off. Again this is the typical pattern in which I have been scammed by SNRS.
Rant over. I'm just sick & tired of my investment in this stuck to the bottom hole of PPS created by these CEO liars of phantom mergers!
Thanks Scragapenny, yeah kind of guessed too good to be true, that's why its going back down to 0.0001 & then those up for it will sell @0.0003 to 0.0004. Ding dong within that range.
Can someone explain if the deal goes thru @0.005, then does this mean that my holdings of 1 million shares will automatically be sold @0.005 and I do not need to fill in the blanks on my online brokerage site?
Will RS come into play in this merger & reduce my shareholdings cos I am holding a pitiful 200K shares only since 2008?
I bought at a high of 0.007. Been at a loss since and NO way am I going to add on cos I want to sell it & break even.
Too many shares floating, hard to get PPS up! Even with some genuine solid contracts, it may not be enough to propel it one zero decimal point of 0.01.
NO,NO, NO not this way. My shareholding will still be diluted reverse merger or RS. NO dilution of shares. If you bought gadzillions of shares, I guess you are OK. But I only have a pitiful 1 million shares & it will all be heavily diluted and no way am I pouring any more money into this.
pumpkin09, you are day dreaming! Hitting 0.25 in 5 months time. If it goes to 0.01, seems to be more realistic IF it ever hits that uppermost limit again like it did 2 years ago. Anyway I will mark 1 November on my calendar & bring it up to you again as it hits the 5 month mark to see what you have to say when it does NOT even hit the 0.25.
Really? Involved in a big solar power plant out west? Who is your source?
How did you manage to get TD Ameritrade to sell? I am on TD Ameritrade & always had problem trying to sell it. I tried to sell at a miserable 0.0001 late last year but nothing happened even though there was volume.
Even if it goes up to 0.002, I will only make a damn negligible profit after holding it for a friggin 2 years & I bought it at a high of 0.0013!
An RM can also be risky cos they might want to delist it once the whole thing is done and take it private.
Or worse after the merger, management decides to do an RS. Hate those RS devalue all existing shareholders shares to a pitiful number of shares. Those higher prices that they pump up for an RS is still worthless for us all holding on to it.
I still say I fell into this scam with those scumbags management!
Don't bet on it! SNRS may just follow Clicker & do a RS to keep company afloat. RS is dreaded by shareholders including myself becos it reduces my already worthless shares to even more worthless shares. All I will be holding is zero or just a few hundreds with those high ratios RS.
The highs were already achieved when it topped @0.01 about 3 years ago in late Dec/early Jan period. Never came back to it & was downhill ever since.
Its a PK stock. In the case of SNRS, PK=Punked Kaput. Get it, its not pink sheet in this case!
You are rite, the shell may have some value. With the high speed rail proposed by Obama and the interests of China railway companies & suppliers interested in bidding for this project, I wonder whether the imbeciles otherwise known as SNRS management can sell this idea to China railway related companies.
But knowing how dumb these guys are, they may not even know how to pick up the phone to make cold calls back to China!!!
Crummy stock been holding this for 2 years now. Bought at a high price of 0.0013. Yes, 2 decimal zeros to it & now it has 3 decimal zeros to it!
Friggin company is not in business at all but blowing hot air flatulence all along. SEC should step in.
My wildest guess is that the company is buying up its own shares to prop up the price or recycling their shares by buying & selling it among themselves? Anything is possible for a PK.
Better this way than the dreaded R/S.
Hope, hope, hope for a $0.10. Bagholder for way too long, more than 2 years. Need to give it a kick in the buuuttttt!!!
keithkeith2112, so how do we find out what is going on?
Has anyone called the IR yet?
Or is someone within CRGO doing all the pumping? Hate to entertain this thought that company is doing badly that they need all the money they can get thru this mad pumping.
Looks like pump & dump again. Not much hope for 0.01. All news is very old news, so why are you folks still digging them out??
There has been no activity for the last 2 years. Anyone lives close to where they operate, care to swing by to see what's up?
Been holding this since 2005. Still at a loss and no not buying more with lower prices.
Bought this in 2005 @0.01! Yes its been that long, 5 years.
What is happening now? Who is pumping this up?
Need to get out @0.01 though the greed in me says 0.10. But since this is still pump & dump, its daydreaming for 0.10 rite?
Anyone been holding this since 2005 as long as I have?
Huh? Still looking good? Very Long bagholder here, so is there RS or no RS? Not been on this board for a while as I have since given up hope of recovering my loss.
Cos if its RS I will be doomed for sure.
And is the CEO done a convenient disappearing act again since he is not responding to emails or phone calls as I noticed that there were some attempts to contact him?