Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Decent investment
New Dragon Asia
Exchange: AMEX
Business: New Dragon Asia Corp. and its subsidiaries engage in the milling, sale, and distribution of flour and related products to retail and wholesale customers in China. The company produces and markets wheat flour for use in bread, dumplings, noodles, and confectionary products, as well as soybean protein powder and soybean powder to food and beverage manufacturers. It also provides various instant noodle products, such as packet noodles for home preparation, as well as snacks and cup noodles for outdoor convenience. New Dragon Asia sells its products principally through distributors in China. It also exports noodle products to Korea, Australia, Malaysia, and Indonesia. The company was founded in 1999 and is headquartered in Shenzhen, the People's Republic of China.
Share price: $0.81
Market cap: $46M
Audited 2007 Annual Report information:
P/E: 3.78
EPS: .214
Retained earnings 2007: $25M
Net income 2007: $11.9M
Cash on hand: $15.7M
Total liabilities: $13.8M
Total assets: $81.4M
Goodwill: $125,000
Property, plant and equipment: $25M
Employees: 2000
Assets:
Yantai Noodle Factory
20.7k sq m
540 workers
Yantai Flour Factory
24k sq m
340 workers
Beijing Noodle Factory
62k sq m
720 workers
Penglai Flour Factory
17k sq m
annual production: 32.4k tons
Chart
Good afternoon.
Why the race-to-the-finish networker always loses
By Stacy Luke, Executive Director - BNI Central Washington
Networking events used to frighten me. How do you strike up a conversation that’s meaningful with people who know you’re hoping to pick up some new connections—especially when all of them are there for exactly the same reason?
Too often, networking events are bursting with over-eager, over-promising, and over-budgeted individuals, all in a race to the finish line–the next Agent, the next Publishing Company, or the next PR Firm who might advance their work or career. But there must be some thoughtful professionals mixing in the crowd! You can’t be the only one! So how do you identify potential networking partners who will treat you as more than just a rung on the ladder?
Just remember the Tortoise is a more effective networker than the Hare. Slow and steady really does win the networking race! Can you spot your networking style?
You are trying to decide which networking event to attend. There are many from which to choose–how do you determine which race to enter?
* Hare: I have a pretty full schedule. I guess I need to see which one fits in. It can’t be too early in the morning, and Mondays are definitely out because it takes me forever to get my week started. Maybe in a couple of weeks I’ll have more time. Oh heck! I’ll just skip lunch tomorrow and go to the first one I see on the calendar. Better get this thing going before I get distracted!
* Tortoise: This is quite a list of events in my area. I think I’ll call the Event Coordinators and ask for more information on each of these. Different professionals probably attend different ones, and I want to make sure I attend one that will attract the people I want to meet. If it meets my criteria, I’ll build my schedule around it.
Now that I’ve decided to attend, how should I prepare?
* Hare: I’ve packed my business cards and my BlackBerry so I can schedule a follow-up lunch with everyone I meet. I’ll be a 90-minute wonder!
* Tortoise: I have my cards and a pen, and I have invited a couple of clients to go with me. We met for coffee and shared the specific types of people we would like to meet. We have a plan already prepared–to focus on introducing each other rather than ourselves. It will be more effective if someone else is singing my praises rather than me, and I’m happy to return the favor to my clients. By doing this for someone else’s benefit, I’m not so nervous anymore!
How do I actually network while I’m there?
* Hare: I have a goal! I brought 100 business cards with me, and I’m not leaving until I have passed them all out. That’s the way to meet people and get my name out there! I’ve practiced my elevator speech so my pitch will roll smoothly off my tongue. I only have an hour and a half, so I’d better walk right up to people and start talking.
* Tortoise: Okay, my cards are in one pocket and my pen is in the other. I’m going to station myself by the door and greet people as they come in. I have three conversation starters prepared to get beyond the initial introductions: How did you get into your line of work? What do you love most about your job – other than working with people? And who did you come here to meet that I might be able to introduce you to? Helping other people get what they want definitely makes this whole networking thing easier!
It’s over! Now what do I do with the contacts I made?
* Hare: I have a pocket full of business cards and a few lunches already scheduled. I’m going to call all of these people right away. “Hello, Carl? This is Harry. We met at the networking event yesterday. You know–I was the one in the black suit? Oh, well, maybe you would remember me better if we met for coffee. I’m scheduling meetings with a number of people I met yesterday, so you’ll probably want to get on my calendar right away.”
* Tortoise: I met a lot of people, four of whom really stand out as people with whom I would like to do business. I’ll call them and see when we can schedule another meeting.
“Hello, Stan? This is Tori. We met yesterday at the networking event. Oh yes, I was happy to help introduce you to Austin. When you told me you wanted to meet with a successful PR Firm, I’m glad I knew just the right one. I was calling to see if you would like to have lunch with Austin and me this week. We would like to get to know you better. Are you available on Friday?”
Help! I’m not an over-promiser, but I am an over-budgeted networker, and the whole reason I network is to increase my revenue! How do I turn those contacts into contracts?
* Hare: I’ve made a list of individuals whom I would like to work with. Now I need to call the people that I met again and find out which ones they can introduce me to. Ask and I shall receive—that’s what I always say!
* Tortoise: After several meetings, I have carefully developed a list of those people my new ‘referral partners’ would like to work with. Now I need to make some phone calls and create some introductions for them. If I hadn’t asked whom I could help them meet, they probably wouldn’t have cared about whom I wanted to meet. Now we each have lists to work on for each other. Ask and we ALL shall receive—that’s what I always say!
A networking event doesn’t have to be scary, and it should be viewed as the beginning to some long and strong relationships. The key to real success lies in our approach: Instead of being a Race-to-the-Finish Networker, we should focus on how—and with whom—we are running.
So whether you are networking to build your business or to promote your book: The finish is always sweeter when we share it with others.
http://www.beneaththecover.com/2007/11/02/the-tortoise-the-hare-and-the-networking-race/
It takes years to build business relationships and establish contracts in many cases. Slow and steady is TTCM China's approach, very methodical.
Exchange rate
1 mo. Yuan-Dollar exchange rate:
The Dragon stands to benefit from a stronger Yuan. In the latest filing (2007 Annual Report), there was a $2.4M credit from exchange rate changes.
Foreign Currency Translation Adjustment
2007
$2,448,000 USD
2006
$1,915,000 USD
2005
$798,000 USD
http://pinksheets.com/edgar/GetFilingHtml?FilingID=5798783
Page F-29
Full Text: China's economic, social development plan (4)
Thursday, March 20, 2008; Posted: 03:34 AM
Mar 20, 2008 (Xinhua via COMTEX) -- NO MATCHES FOUND. | news | PowerRating | PR Charts -- 4. Steady progress was made in building a resource-conserving and environmentally friendly society.
Efforts to conserve energy and other resources continued to produce more results. We announced a master work plan for saving energy and reducing pollutant emissions and a plan and methods for compiling statistics on and monitoring and assessing progress. In addition, an accountability system for energy conservation and pollution reduction targets has been put in place. Good progress was made in the ten major state projects for energy conservation. Funds from the central government were used to support nearly 700 energy- saving projects that will potentially save 22.5 million tons of standard coal. The campaign to save energy in 1,000 energy-intensive enterprises was carried out in full, resulting in a total saving of more than 20 million tons of standard coal. The second group of pilot projects for a circular economy was launched. New fiscal, tax, financial, pricing and other policies to support energy conservation and pollution reduction efforts were introduced at a faster pace. The new policies raised resource taxes on a number of mineral products, introduced the List of Equipment and Products Entitled to Corporate Income Tax Credit for Energy- and Water Efficiency and Comprehensive Utilization of Resources and set up a system of mandatory government procurement for energy-efficient products. The policy of charging differential electricity rates was tightened and pilot projects to generate and distribute electricity more efficiently were launched. The revised Law on Energy Conservation was promulgated, and a number of energy efficiency standards and quotas for energy consumption in production were set. Efforts were intensified to track compliance with energy conservation and pollution reduction laws and to increase publicity and guidance concerning compliance with these laws.
Further progress was made in the protection and improvement of the ecological environment. We continued to work on key ecological projects such as those to protect virgin forests, bring the sources of sandstorms affecting Beijing and Tianjin under control, build networks of key forest shelterbelts, and protect and improve the Sanjiangyuan Nature Reserve. Since 2003, an additional 31.91 million hectares of the country has been covered with trees, including the forests returned from former farmland, and a total of 34.6 million hectares of grazing land has been returned to grassland. A system of indicators was formulated to assess compliance with clean production standards in 24 industries, including the thermal power, phosphate fertilizer, and lead and zinc industries, and extensive inspections were carried out to ensure clean production in these industries. We continued our efforts to prevent and control pollution in key river valleys and regions, including the Huai, Hai, Liao and Songhua rivers, Tai, Chao and Dianchi lakes, the Three Gorges Reservoir area, the Danjiangkou Reservoir area and its upper reaches, and the Bohai Sea. The percentage of treated urban sewage reached 59% and percentage of urban household waste safely handled reached 56%, 3 and 2 percentage points higher respectively than the levels of the year before. Breakthrough was made in desulfurizing projects for coal-fired power plants, with desulfurization devices installed in more thermal power plants with a total capacity of 110 million kilowatts, bringing the proportion of China's total thermal power plant capacity with such equipment up to 50%. We issued the National Climate Change Program, China's first policy document to comprehensively respond to climate change and the first of its kind produced by a developing country. The program received a positive response from the international community. Figure 6. Urban Sewage Treatment and Safe Handling of Urban Household Waste (More)
http://www.tradingmarkets.com/.site/news/Stock%20News/1224720/
Buying opportunity?
One month chart
The one-month chart shows TTCH held .014, seems to be some support at that price level. This could be a nice buying opportunity but the ask is thin so it will be tough to buy many shares imho unless you bid about .02 or so.
Bidders
NITE 0.0140 5000 13:09:40
DOMS 0.0140 5000 13:09:40
UBSS 0.0125 5000 10:24:21
HILL 0.0120 5000 14:35:55
Sellers
UBSS 0.0150 5000 10:24:21
AUTO 0.0160 5000 15:04:10
NITE 0.0170 10000 13:09:40
SALI 0.0200 5000 14:14:49
http://66.201.236.134/export/level2.jsp?symbol=ttch&=Get+Quote
Going up
This stock will be trading much higher very soon imho.
Value
As of March 9, 2008, there were 56,071,947 shares of our Class A Common Stock outstanding and we had approximately 5,000 shareholders of record. American Stock Transfer & Trust Company is the registrar and transfer agent for our Class A Common Stock.
History of weighted average shares outstanding (diluted):
Year ending Dec 25
2006 - 51,485,000
2005 - 46,949,000
Source: http://pinksheets.com/edgar/GetFilingHtml?FilingID=5798783
-------------------
Assets (total)
2007 - 81,420,000
2006 - 69,508,000
2005 - 57,421,000
2004 - 34,246,000
-------------------
Liabilities (total)
2007 - 13,483,000
2006 - 21,016,000
2005 - 19,772,000
2004 - 7,329,000
Source: SEC filings | www.sec.gov
F1Q08 Earnings Call
February 7, 2008 11:00 am ET
Executives
O. Joe Caldarelli – Chief Executive Officer & Director
Robert A. Fickett – President & Chief Operating Officer
Joel A. Littman – Chief Financial Officer, Treasurer & Secretary
Analysts
Gary Liebowitz – Wachovia Securities
Antonio Antezano – Bear Stearns & Co., LLC
Andrew Berg – Post Advisory Group
Frank Bisk – Pilot Advisors
Gregory [With] – Robeco
Chris McDonald – Kennedy Capital
Presentation
Operator
Welcome to the CPI International first quarter 2008 financial results conference call. My name is Betsy and I’ll be your coordinator for today. At this time all participants are in listen only mode. We will be facilitating a question and answer session towards the end of this conference. (Operator Instructions) As a reminder the conference is being recorded for replay purposes.
Before we begin, the company has asked me to read the following statement. Today’s presentation includes forward-looking statements within the meanings of the Securities Exchange Act of 1934. Forward-looking statements provide the company’s current expectations, beliefs, or forecasts of a future event. Forward-looking statements are subject to known and unknown risks and uncertainties which could cause actual results to differ in material from the results projects, expected or implied by forward-looking statements. These risk factors include without limitations, competition in the company’s end markets, the company’s debt levels, significant changes or reductions in the US defense budget, currency fluctuations, US government contract laws and regulations, changes in technologies, the impact of unexpected cost and inability to obtain raw materials and components. Further information on the risk factors and additional risks and uncertainties are included in the company’s filings with the Securities & Exchange Commission.
The computation of EBITDA, adjusted EBITDA, adjusted EBITDA margin, free cash flow and adjusted free cash flow that will be discussed on today’s call are non-GAAP financial measures. Under Securities & Exchange Commission rules, a presentation of the most direct comparable GAAP measures and reconciliations of each of these non-GAAP financial measures to the most directly comparable GAAP measures, are available in yesterday’s press release which has been posted on the company’s website. Interested parties can access the press release by going to www.cpii.com and opening the press release entitled CPI International announces first quarter 2008 financial results. I would now like to turn the presentation over to today’s host Mr. Joe Caldarelli the Chief Executive Officer of CPI International. Please proceed sir.
O. Joe Caldarelli
Good morning and welcome to CPI’s first quarter 2008 call. We appreciate you taking the time to join us this morning and hope that you have had a chance to review yesterday’s 10Q filing and press release. The agenda for today’s call will be as follows: first I’ll discuss some of the factors that affected our results in the first quarter then I will touch on our sales and orders highlights for the quarter. Next Joel Littman our Chief Financial Officer will discuss some of our key financial metrics. Finally I’ll talk about our expectations for the rest of the year before opening the call up to your questions. Bob Fickett our President and COO will join us for the question and answer session at the end of the call.
Our financial results in the first quarter were disappointing and below our expectations. The impact of delayed sales for certain programs plus our involvement in a large number of development programs had a negative effect on our financial results reducing our net income by $0.12 per share on a diluted basis and our EBITDA by $3.4 million for the quarter. First and foremost approximately $5 million in sales that were expected to ship in Q1 did not reducing our net income by approximately $0.07 per share and our EBITDA by approximately $2 million. These sales were delayed primarily because of delays in the placement of orders, delays in customer inspections of certain finished products and delays in the availability of customer funds for certain programs. For example as we discussed on last quarter’s conference call we expected to receive in Q1 a $3.9 million radar order for the hawk missile system. This order was not received until the first week of Q2. As a result of this delay approximately $1 million in sales that had been expected in December for this program did not materialize during the quarter.
The second factor that negatively affected our Q1 results was the amount of development work that we currently have underway. A number of customers in several markets have recently asked CPI to work with them on numerous development programs putting us in an enviable position from a technology standpoint and reinforcing our position as an industry technology leader. However, the timing of these diverse defense and commercial development contracts has coincided such that we have an unusually high level of development initiatives underway as we continue to develop and deploy innovative new technologies and products. By their very nature development programs carry increased risks of technical issues and cost and schedule overruns and typically have lower margins.
In Q1 the increase of customer funded development programs resulted in sales of products with lower gross margins and increased expenses and in addition our company funded R&D expenses also increased during the quarter. As a result our net income was reduced by approximately $0.05 per share and our EBITDA was reduced by approximately $1.4 million. We expect these higher levels of development work to continue for a while. We’ll discuss in more detail our expectations for Q2 and the rest of fiscal 08 a little later in this mornings call.
Next let’s turn to our sales and order results in Q1. At $85.9 million our Q108 sales were approximately 3% higher than our sales in Q107. Our Q108 orders totaled $89.9 million an increase of approximately 7% from our Q107 orders level. Our new Malibu division which we acquired in Q4 of last year contributed $4.3 million in sales and $8 million in orders in Q108. The Malibu division was not included in our year ago results . Excluding Malibu from our Q108 results our core sales and orders would each have decreased approximately 3% from the same quarter of last year. In the defense market which is the combination of our radar and electronic warfare applications, sales increased 4% to $35.9 million in Q1. This increase was primarily due to the fact that we are now including the Malibu division in our results. Approximately half of the Malibu divisions $4.3 million in Q1sales were in the radar market, the other half were in the communications market. Excluding Malibu from our Q108 sales results our sales in the radar and electronic warfare markets would have been slightly lower than our sales in the combined markets in the same quarter of last year. It is worth noting that the aforementioned delay in the hawk order pushed approximately $1 million in expected radar sales out of Q1.
Our Q1 orders in the combined radar and EW markets decreased 12% to $37.6 million as compared to Q107. There were two main drivers for the orders decrease. First, as I discussed earlier, a $3.9 million order for the hawk to surface to air missile system was expected in Q1, but was not received until the first week of Q2. The delay in this hawk radar order was responsible for approximately 80% of the $5 million decrease in our total defense orders from the same quarter of last year. Second, not unexpectedly demand for radar products to support the ship boards Aegis Weapon System has decreased. For a number of years there has been a high rate of new ship builds for the Aegis Weapon Systems, and we have been providing both new products and spares and repairs for the system. The new ship build is now coming to an end and we have already shipped the majority of our products required to the remaining new ships, so demand for new products for the Aegis System has decreased. We expect to see reduced demand for products for the Aegis System until the recently built ships have commissioned and deployed and start requiring spare and repair products. In the meantime, we will continue to provide a reduced number of products to support spare and repair requirements for the previously deployed Aegis ships.
As we discussed on previous conference calls, delays in orders for defense programs are common, as the timing of defense programs often fluctuates, particularly in the first quarter and fourth quarters of our government’s fiscal year. Around this time every year we take a look at how defense orders are shaping up to try to ascertain if there’s anything unusual going on or if there’s any indication of a general softening in demand. Given the generally fluctuating timing of radar and EW orders and the sheer number of programs in which CPI is involved it’s often challenging to see specific trends in our defense markets until one is well into a particular cycle. At this time we are experiencing a lengthening of order timelines in our defense markets. We are still seeing demand in the systems for these expected products, but we’re experiencing delays in the issuing of RFQs and the subsequent placement of the corresponding orders. Our customers assure us that our defense products are still required and critical to their success but they seem to be taking longer to place their orders, and the order finalization process is taking longer to complete. We don’t yet know what the underlying cost for these delays or even if there is a systemic underlying costs. What we do know is that in Q1 and some degree Q2, so far we have seen an unusually high number of radar and EW orders, as timing has been shifted out to the right. We don’t believe these orders are being lost, there just not being booked as quickly as we would otherwise have expected. Of course delays in order placements and softening sales for these products and programs, shifting to the right. We will continue to closely monitor this situation. We remain confident that the radar and EW markets are fundamentally solid and relatively stable and should continue to grow at low single digit percentages over the long term... (continued)
http://seekingalpha.com/article/69227-cpi-international-f1q08-quarter-end-12-31-2007-earnings-call-transcript?source=yahoo
iBox updated
Issued shares increased according to the annual report. Source: www.sec.gov
TTCM China Reports Managing Director/General Manager Wang Ji Ying Made Inspection/Negotation Tour in Middle-Eastern Countries
March 19, 2008 10:00 AM Eastern Daylight Time
TIANJIN, China--(BUSINESS WIRE)--TTCM China, Inc. (Pink Sheets:TTCH), a leading producer and supplier of glass-reinforced fiber plastic pipes and related products, announced that the Managing Director and General Manager Wang Ji Ying recently made an extensive inspection and negotiation tour in the Arabic/Middle Eastern countries to market the Company’s products as well as potential oil transport pipes and laid the foundation for future business in the region.
Mr. Jiqun Wang, Founder and Chairman of TTCM China, said, “This tour is timely for the Company’s strategy for future expansion plan domestically as well as overseas in meeting demand for the Company’s pipes and oil transport pipes in the Arabic/Middle Eastern countries and not to lose the marketing opportunities in the region. We expect the growing demand for clean water delivery, sewerage, flood control water diversion systems and potential oil transport pipes in China as well as the Arabic/Middle Eastern countries.”
About TTCM China, Inc. (www.ttcmchina.com)
TTCM China, founded in 1995 and based in Tianjin, China, is a leading producer of glass-reinforced composite plastic and related products including high-pressure pipes to the water supply, sewerage and flood control systems. In cooperation with the Harbin Industry University, TTCM developed an advanced technology employing micro-emulsification, which enables a reduction of the amount of resin used in the production process and at the same time raises the product compactness, strength and quality. These procedures make TTCM’s glass-reinforced plastic pipes superior in strength to plastic pipes while weigh only one-fourth the weight of steel pipes and one-eighth of concrete pipes.
Safe Harbor Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, force d majeure, foreign-currencies exchange-rates, customers’ financial conditions, general market and economic conditions, successfully completing additional financings, shipping and other risks associated with the operation in China where certain governmental economic or political situation/polices might adversely affect outcome of the envisioned business.
Contacts
TTCM China, Inc.
Won-Gil Choe, 650-960-1155
Fax 650-960-1133
Full Text: Report on the Work of the Government (3)
We gave high priority to conserving resources and protecting the environment. Obligatory targets for saving energy and reducing emissions were set in the Outline of the Eleventh Five-Year Plan for National Economic and Social Development. In the last two years, a general work plan for saving energy and reducing emissions was introduced; a system of targets for this work, a monitoring system, a system for assessing work performance and a system of accountability for reaching the targets were put in place; and a state plan to address climate change was promulgated. A large number of backward production facilities were shut down in accordance with the law. They include small thermal power plants with a total capacity of 21.57 million kW, 11,200 small coal mines, backward iron smelting facilities with a total capacity of 46.59 million tons, backward steel plants with a total capacity of 37.47million tons and cement plants with a total capacity of 87 million tons. Ten major energy-saving projects were launched. Breakthroughs were made in carrying out desulfurizing projects for coal-fired power plants. The central government provided financial support for 691 projects to prevent and control water pollution in major river valleys. Work continued on ecological conservation projects such as those to protect natural forests and control the factors causing sandstorms in Beijing and Tianjin. During the five-year period, the area of farmland retired for forestation and other lands planted with trees amounted to 31.91 million hectares, and grazing land returned to natural grasslands totaled 34.6 million hectares. Protection of land and water resources was strengthened, with a total of 1.526 million hectares of farmland being upgraded, reclaimed or newly developed over the last five years. Thanks to the strong efforts of the whole country, encouraging progress was made in conserving energy and reducing emissions. In 2007 there was a 3.27% year-on-year drop in energy consumption per unit of GDP, and for the first time in recent years there was a reduction in both chemical oxygen demand and the total emission of sulfur dioxide, with the former down 3.14% and the latter down 4.66% from the previous year. People became more aware of the importance of conserving resources and protecting the environment and made greater efforts in this area.
We followed a master strategy for regional development. Continued progress was made in the large-scale development of the western region, with central government financial support for key projects totaling over 280 billion yuan over the last five years. Substantial progress was made in infrastructure development and ecological and environmental conservation projects, and development of key areas and industries with local advantages was accelerated. We formulated and implemented the strategy of rejuvenating the old industrial bases such as northeast China, increased efforts to develop large grain production bases, made breakthroughs in reforming, reorganizing and upgrading SOEs, made major progress in using domestically-produced key equipment in place of imports, and made smooth headway in the trial to transform the economies of cities dependent on resource exploitation. The old industrial bases are now showing new signs of vitality. We formulated and implemented policies and measures to promote development in the central region and made accelerated progress in developing modern agriculture in major grain-producing areas. Major energy and raw material industries, the equipment manufacturing industry and the overall transportation system were further developed. The eastern region continued to lead in development, with significant gains in economic strength and overall improvement. The process of developing and opening up the special economic zones, the Shanghai Pudong New Area and the Tianjin Binhai New Area was accelerated. These major measures promoted a better distribution and more balanced development of regional economies. (More)
Editor: Mu Xuequan
http://news.xinhuanet.com/english/2008-03/19/content_7817454.htm
Level II
Ask
NITE 0.0170 10000 13:09:40
AUTO 0.0190 5000 13:09:23
SALI 0.0200 5000 14:14:49
UBSS 0.0240 5000 09:30:33
Bid
NITE 0.0140 5000 13:09:40
UBSS 0.0140 5000 09:30:33
DOMS 0.0140 5000 13:09:40
HILL 0.0120 5000 14:35:55
Rush to quality
More to come. Hang on to your hat.
Nice webpage.
Agree 100%. Ceradyne is in a good position.
I got in after the big drop so I cannot be a part of any lawsuit. Not sure if it would be cheaper to average down in comparison to hiring an attorney or team of attorneys. In the end, much time and energy is spent on these type of suits and the attorneys are often the only ones to profit. This is a penny stock (sub $5) and the courts often frown upon actions related to said equities and/or controlling entities.
On a lighter note, perhaps the disassociated party or parties would prefer a friendlier venue. A mediation or similar process is always an option.
100-Day Average Volume - 532917
50-Day Average Volume - 998944
20-Day Average Volume - 2127355
Volume is way up. 20 day average is approx 4x the 100 day average.
Oversold
Undervalued stock.
Sure looks like a double bottom to me. It will be shocking if the stock goes any lower imho. G/l
Just called Geer
They are very busy. The receptionist sounds out of breath and overworked. Back up the truck imho.
Lucas Energy Tops Oil and Gas Financial Journal's List of Fastest-Growing Companies
Tuesday February 26, 8:30 am ET
HOUSTON, Feb. 26, 2008 (PRIME NEWSWIRE) -- Lucas Energy, Inc. (AMEX:LEI - News), a U.S. based independent oil and gas company, today announced that it has been named the fastest-growing company in the OGJ200 group for the third quarter, 2007, based on its 153% increase in stockholders' equity to $19 million in the third quarter 2007 from $7.5 million at March 31, 2007. Stockholders' equity is a primary factor for inclusion on the Oil and Gas Financial Journal list. Companies in the group must also be publicly traded, U.S.-based and generate positive, and increasing, net income. The Oil and Gas Journal cited Lucas Energy's acquisition of property in Gonzales County, Texas and its acquisition of a major stake in Bonanza Oil & Gas Inc., a Texas company, in the third and fourth quarters, respectively, as factors in this ranking.
James Cerna, CEO of Lucas Energy Inc., commented, ``We are extremely honored with the recognition we have received by leading the OGJ200's fastest growing companies in the third quarter. We see this as a reflection of the success of our goal to identify, evaluate and revitalize underperforming oil and gas assets while continuously striving to enhance shareholder value. Our focus has always been to be profitable and maintain profitability. When we recently reported our results for the quarter ended December 31, 2007, we not only achieved record financial results, it was also our 11th consecutive quarter of profitability.''
About Lucas Energy, Inc.
Lucas Energy, Inc. (AMEX:LEI - News) is an independent crude oil and gas company building a diversified portfolio of valuable oil and gas assets in the United States. The company is focused on identifying underperforming oil and gas assets, which are revitalized through a meticulous process of evaluation, application of modern well technology, and stringent management controls. This process allows the company to increase its reserve base and cash flow while significantly reducing the risk of traditional exploration projects. The Company's headquarters are located at 3000 Richmond Avenue, Suite 400, Houston, Texas 77098.
http://biz.yahoo.com/pz/080226/137065.html
BEIJING, Mar 14 (IPS) - Holding the Summer Olympic Games in one of the world’s driest cities poses a tough challenge for the hosts in Beijing though they have been working assiduously to ensure adequate water supplies during the events in August.
However, elaborate schemes for water diversion from the neighbouring provinces are already threatening to backfire as local officials resist pressures being brought on them to share their water resources to avert a crisis in the capital.
Beijing’s thirst for water has been a hot topic during the ongoing annual session of the National People’s Congress or parliament (Mar. 5-18), which is the only chance for Chinese deputies to discuss critical issues publicly.
"It is not that we don’t want to supply Beijing with water … there is simply no water to share," Zhang Fuming, a delegate from the northwestern Shanxi province said, on the sidelines of the parliamentary session.
Shanxi and Hebei are the two provinces that Beijing has called upon to share the burden of hosting the Olympics when the capital’s water consumption is expected to hit 2.7 million cu m a day. But both provinces, which sit upstream of Yongdinghe river -- Beijing’s main water system – are struggling to meet their own demand.
Hebei, for instance, has been suffering from perennial droughts since 1999 but local leaders have made the growing of water-consuming hybrid rice one of their goals.
Shanxi province, known as China’s coal pit, has exhausted its scarce water resources by excessive mine development and pumping out of underground water -- most of which is contaminated with pollutants and unusable either for industry or irrigation.
"It would take years of water conservation to restore the water supply and water quality in the province," reckons Zhang who works as a development researcher for the provincial government.
This plight is shared by most of northern China where it rarely rains and the earth is dry and barren. Even the capital city is under siege by the advancing sands of the Gobi desert.
Per capita water resources for the country’s 1.3 billion people is less than one-third of the global average but for Beijing and that of 130 Chinese cities’ per capita water usage is below national average.
In fact, the Olympic city’s water shortages are so acute that a recent public debate saw many residents suggesting that the capital be moved away from Beijing which has a paucity of clean water.
Despite the capital’s dwindling supplies, the organisers of the Beijing Olympics and its urban developers are designing and building a series of new water parks and vast golf courses. Parched Beijing has currently more than 30 golf courses, each of them maintained at the expense of 3,000 cu m of water a day.
To meet the capital’s mounting demands for water, Chinese planners have invested in huge infrastructure projects that would divert water from the country’s major rivers, the Yangtze, and the Yellow river.
The most ambitious plan -- the South to North Water Diversion -- is projected to supply Beijing with one billion tonnes of water a year, pumped from the Yangtze River up a 1,277 km canal. The total cost of the project is estimated at more than 60 billion US dollars, more than double the officially admitted 28 billion dollars that the controversial Three Gorges Dam had cost.
The scheme envisages three canals along the east, centre and west, carrying water for hundreds of km from south to north to irrigate the arid northern plains and bring water to Beijing. The initial stages of the project are to be finished for the Olympic games but the rest could take years to complete.
In January, Chinese engineers began diverting water from the Yellow River to boost the capital’s dwindling supplies ahead of the Olympics. Up to 150 million cu m of water will flow 400 km to lake Baiyangdian, south of Beijing, over the next three months.
Meanwhile, state planners have come up with a scheme calling on Beijing’s neighbouring provinces to share their water resources and ensure the smooth progress of the Olympic games. While the plan outlines unspecified payment for the water supplies, delegates to the parliamentary session said it would be difficult to implement.
"Without administrative orders, such water transactions would be virtually impossible," hydrologist Cao Dazheng and delegate for Tianjin city said during group discussions. "There is no clear division of water rights among localities. What is more, there are various industrial interests vested in these water supplies because of the local production of oil and coal."
While committing to supply water for the Olympics, Hebei provincial officials have demanded compensation from Beijing for depriving them of precious resources that could have been used to develop lucrative industries locally, according to media reports. Beyond the Olympic games, the future of Beijing’s water supply remains uncertain.
The water crisis plaguing northern China, as its aquifers are sucked dry by thirsty cities, is exacerbated by pollution which has contaminated more than half of the country’s waterways. Some 300 million people, a quarter of China’s population, have no access to clean drinking water, according to government statistics.
http://www.ipsnews.net/news.asp?idnews=41591
Careful
Looks to be topping imho.
Stockholders Equity
On November 13, 2006, we acquired all of the outstanding capital stock of China Organic Health Products, Inc. (“China Organic”). In connection with the closing of the acquisition (the “Share Exchange”), we issued to the shareholders of China Organic (a) 27,486,175 shares of common stock and (b) Series D Preferred Stock, which was convertible into 469,760,000 shares of common stock. As a part of the merger, we changed our corporate name to "China Huaren Organic Products, Inc. from Ultradata Systems, Inc. " In addition, we effected a 1:39 reverse split of our outstanding common shares and an increase in the number of authorized shares of common stock from 50,000,000 shares, par value $0.01 to 100,000,000 shares, $0.01 par value. After recapitalization, the Series D Preferred Stock was converted into 12,045,128 common shares, and there were 14,699,853 common shares issued and outstanding, par value $0.01 on September 30, 2007.
www.sec.gov
Accounts receivable
During the first quarter of 2007, the Company, facing an imminent expiration date on organic crops that it had received from Wancheng, sold those crops at cost to Yushu Wanli Co., Ltd (“Yushu”) pursuant to a sales contract. This sale on March 15, 2007 increased the Company’s accounts receivable by approximately $5,380,185 (equivalent to RMB 40,312,786), which included the merchandise price plus VAT and other sales taxes. Yushu Wanli Co., Ltd. is a non-related third party. Based upon the sales contract, Yushu started to pay the amount due to us in May 2007. As of September 30, 2007, the outstanding balance due from Yushu was $4,445,958 (equivalent to RMB 33,312,786). It represented all of our gross accounts receivable balance as of September 30, 2007.
Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date:
November 19, 2007
Common Stock: 14,699,853 shares
On November 16, 2007 China Huaren Organic Products, Inc. (“China Huaren”) and its subsidiary, Jilin Province Huaren Organic Products Co., Ltd. (“Jilin Huaren”) entered into an agreement titled “Agreement Regarding the Collective Responsibilities of the Contractors” (the “Agreement”). The counterparties to the Agreement were Haizhen Li, Daiwei Zhang, Qinrao Shi, Xiufang Zhang and Shouyu Lian (the “Managers”). The Agreement provided that:
·
Haizhen Li will be appointed as Chief Executive Officer of Jilin Huaren for the term of the Agreement.
·
The Managers will be responsible for the management of Jilin Huaren, subject to the right of the Board of Directors of China Huaren to terminate the Agreement in the event of a breach.
·
In compensation for their services, the Managers will be paid an amount equal to the net after-tax earnings of Jilin Huaren less the amount of annual net after-tax earnings shown below in Renminbi (“RMB”). Currently, the exchange rate for RMB to U.S. Dollars is approximately 7.5.
chart here --> http://pinksheets.com/edgar/GetFilingHtml?FilingID=5559497
China Huaren will adopt a stock option plan authorizing the China Huaren Board of Directors to issue five million shares of China Huaren common stock. At the request of the Managers, the Board will issue up to one million shares or options for shares to the Managers or their assigns. Also at the request of the Managers, the Board will issue up to four million shares or options for shares to individuals who are acting as sales representatives for Jilin Huaren.
·
The Managers will not be permitted to sell more than 200,000 China Huaren shares in any 12 month period.
·
The Managers will indemnify Jilin Huaren against any liabilities it incurs during the terms of the Agreement that are not satisfied from revenues.
·
The China Huaren Board of Directors may terminate the Agreement for cause if the net after-tax earnings of Jilin Huaren for the period from August 1, 2007 to July 31, 2008 do not equal or exceed 12,350,000 RMB (i.e. approximately $1,650,000). If the Agreement is terminated for cause, the Managers shall return any China Huaren shares they have received.
·
Unless terminated for cause or due to a breach, the Agreement will terminate on December 31, 2011.
Good call Ronnie. You were spot on with the 80c prediction.
Three Sands
Location and Access. The Three Sands Project is an oil and gas exploration project located in Noble County, Oklahoma. The property can be reached by Oklahoma State Highway 77 and then accessed by a secondary gravel and dirt road.
Previous Operations and History. The Three Sands field was drilled on 10-acre spacing in the 1920s and 1930s and was very active in producing over 200 million Bbls of oil and an unknown amount of gas from a six-section (3,800 acres) area. However, during this period, most wells were abandoned within twenty years as the wells became commercially unviable due to the lack of technology. In particular, during this period, technology was not available, as it is today, to handle high volumes of water and its subsequent disposal, nor was it capable of drilling in areas where the tightness of rock limited flow.
The primary targets of the Three Sands Project are the Arbuckle, Wilcox and Viola Formations. These were the deep pay zones first discovered in the field, and in addition to the oil they produced, large amounts of water were eventually produced forcing the abandonment of the well. Today the water problem has been overcome with down hole electrical high volume pumps and adequate disposal wells, allowing continued exploration.
Geology of the Three Sands Project. Geologically, this field is a balded structure in which a combination of structure and erosion has aided in producing the field. Pay zones in the project vary from the Arbuckle to the Pennsylvanian and are productive over a 5,000-foot interval that starts at less than 1,000 feet from the surface. In a 2004 drill test, more than two-dozen pay zones were encountered (some of which have not been produced).
Proposed Program of Exploration . Utilizing previously completed 3-D seismic survey data and information gained from the drilling, completion and production of the Williams #4-10, we anticipate drilling an additional two to four wells at the Three Sands Project during fiscal 2008. These wells will be approximately 5,000 feet deep.
Cost Estimates Including Previous Work. As of October 31, 2007, we have expended $920,278 in connection with the Three Sands Project, including leasing, title, drilling, and casing.
Present Activities . Drilling of the Kodesh #1 disposal well was completed on October 3, 2005 and drilling of the Kodesh #2 well was completed on October 23, 2005. Completion and equipping of these wells took place during mid-December 2005 through early January 2006. The Kodesh #2 well is now producing oil and gas on a daily basis and as of October 31, 2007, it has produced 2,719 Bbls of oil and 4,086 Mcf of natural gas.
During January 2007, we re-entered the Dye Estate #1 well. Production of natural gas from the Dye Estate #1 well commenced in mid-August 2007. The Dye Estate #1 well has produced 495 Mcf of natural gas and is currently averaging natural gas production at a rate of 6 Mcf per day. Water from the Dye Estate #1 well is being disposed in the Kodesh #1 disposal well.
We commenced drilling the William #4-10 well in early June 2007, reaching a total depth of 4,810 feet in mid-June 2007. Electric and radiation logs indicated that the William #4-10 well contained four potential commercial pay zones, the Wilcox Sand, Mississippi Lime, Layton Sand and the Tonkawa Sand. Completion of the lowest zone, the Wilcox Sand, occurred in mid-August 2007. Production from the William #4-10 well started in mid-October 2007. As of the date of this filing, initial production rates from the William #4-10 well have averaged 3.5 Bbls of oil and 10 Mcf of natural gas per day. We plan to move up the hole during the first quarter of 2008, perforate, fracture treat and test the Mississippi Lime and the lower Layton Sand. This is intended to increase the production rate of both gas and oil from the Williams #4-10 well and provide data regarding the potential of these formations for the remainder of the leases on the Three Sands Project.
www.sec.gov
State issuer’s revenues for its most recent fiscal year: $1,552,921
State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold, or the average bid and asked price of such common equity, as of a specified date within the past 60 days: $4,114,192 as of January 29, 2008
State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: 24,529,832 as of January 29, 2008
www.sec.gov
Brinx Starts Drilling the KC 80 #1-11 on the Three Sands Project
Thursday February 21, 9:00 am ET
ALBUQUERQUE, NM--(MARKET WIRE)--Feb 21, 2008 -- Brinx Resources Ltd. (OTC BB:BNXR.OB - News) (the "Company" or "Brinx") is pleased to report the Company has started drilling the KC 80 #1-11 well at the Three Sands Project in Noble County, Oklahoma. The primary target for the well is the upper Mississippian Limestone and Chat Formation. These formations have produced a significant amount of oil and gas from a number of recently drilled oil and gas wells located near the KC 80 drill site.
The Three Sands Project is located in the Three Sands Field that was localized by a balded structure where a combination of structure and erosion produced the prolific field. Pay zones in the project range from the Arbuckle to the Pennsylvanian and they have been produced over a 4000-foot interval that starts at less than one thousand feet from the surface. In addition to the Mississippian Limestone and Chat Formation, additional potentially productive zones in the Red Fork and Layton Sand may exist. Both of these zones lie above the targeted intervals.
A recent 3-D seismic survey on the Three Sands Project was used to determine this drill location as well as a number of other drill locations, all with multiple potential pay zones. It is anticipated to take approximately two weeks to drill the KC 80 well and depending upon the availability of a completion rig an additional several weeks before it is completed.
About Brinx Resources
Brinx Resources is an expanding exploration company focused on developing North American oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the Three Sand Project in Noble County, Oklahoma (40% interest); the Owl Creek Project in McClain County, Oklahoma (42.5 to 70% interest); and the Palmetto Point Project in Mississippi (8 to 8.5% interest). Brinx Resources is seeking to further develop its existing project through development or offset drilling and expand its portfolio to include additional interests North America.
Leroy Halterman, President
The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Contact:
For More Information Contact:
Brinx Resources Ltd.
Jesse Keller
Investor Relations
Toll Free: 1-888-472-1960
ir@brinxresources.com
http://www.brinxresources.com
Brinx Resources, Ltd.
820 Piedra Vista Road NE
Albuquerque, NM 87123-1954
Corporate Office: 505.291.0158
Fax: 505.291.0158
Source: Brinx Resources Ltd.
Item 5.01 Changes in Control of Registrant.
At the Closing of the purchase of all of the outstanding membership interests in Altony on March 4, 2008 ( the “Transaction”), we issued to Egani 130,000,000 shares of our common stock, which constitutes following such issuance a majority of our outstanding shares of common stock.
The stockholders of Egani, Inc. are Daniel R. Peralta and Monica Laura Gallo, husband and wife, each a beneficial owner of 65,000,000 million shares of our common stock. Based on the number of our outstanding voting securities as of March 4, 2008, each of Mr. Peralta and Ms. Gallo own beneficially approximately 26.7% of our issued and outstanding shares of common stock.
The consideration furnished by Egani, Inc. was comprised of all of the outstanding membership interests of Altony SA and South American Hedge Fund LLC, valued at $2,600,000 based on the market value of 130,000,000 shares of our common stock on March 4, 2008, that we issued to acquire these assets.
The sources of funds used by the beneficial owners of Egani, Inc. to acquire control of the Company were personal funds.
http://pinksheets.com/edgar/GetFilingHtml?FilingID=5790680
8-K filing
Item 2.01. Completion of Acquisition or Disposition of Assets.
At a closing held on March 4, 2008, pursuant to the Agreement we acquired from Egani 100% of the issued and outstanding membership interests held by it in Altony which owns 100% of the issued and outstanding membership interests in SAHF, in exchange for our issuance of 130,000,000 shares of our common stock.
Effective March 4, 2008, Delta Mutual, Inc. (the “Company”, “we” or “us”) entered into a Membership Interest Purchase Agreement (the “Agreement”) with Egani, Inc., an Arizona corporation, (“Egani”), providing for the acquisition by the Company from Egani 100% of the issued and outstanding membership interests held by it in Altony SA, an Uruguay Sociedad Anonima (“Altony”), which owns 100% of the issued and outstanding membership interests in South American Hedge Fund LLC, a Delaware limited liability company (“SAHF”). In connection with the Agreement, we issued 130,000,000 shares of our common stock to Egani, and also issued 10,000,000 shares to Security Systems International, Inc., pursuant to a Consulting Services Agreement, dated September 10, 2007 (the “Consulting Agreement”), between the Company and Security Systems International, Inc.
www.sec.gov
52 wk high
www.stockcharts.com
Long and strong
No reason to sell at this price. We are very near the bottom. Going up from here. Looking back, we will wish we averaged down. All imho.
---
Gas prices in Texas at record high
Austin Business Journal
A continued rise in crude oil prices has pushed pump prices in Texas to new record highs.
According to the AAA Texas Weekend Gas Watch, the current average price per gallon of self-serve unleaded gas in Texas is up to $3.16 -- an all-time high. The average cost of regular-grade gasoline in Austin is also $3.16.
San Antonio, according to the latest report, has the lowest average at $3.12 per gallon, but that price is still up five cents over the previous week.
In the Metroplex, Fort Worth has pushed past Dallas with the highest average in the state at $3.17 a gallon, up nine cents.
The news is not much better in Houston. The average price in the Bayou City hit $3.16 per gallon, up nearly 8 cents.
In Corpus Christi, the cost of gas has increased nearly 6 cents -- to just under $3.14 per gallon.
"Every Texas region surveyed set new record highs this week, with Amarillo being the only exception," says AAA Texas spokesperson Rose Rougeau.
The price in Amarillo reached $3.16, an increase of more than 5 cents compared to the previous week.
"Texarkana is the only area that posted a decrease," Rougeau says. "With record crude oil prices pushing retail gas prices upward, it is unlikely that area will continue to move downward."
The pump price was $3.13 per gallon in Texarkana, down more than 4 cents from the previous week.
http://www.bizjournals.com/austin/stories/2008/03/10/daily40.html
Delisting
Considering all the late filings (see the iBox or www.sec.gov), I wonder if Xpention will be delisted from the OTCBB this year...
Highest trading vol since Jan08
http://pinksheets.com/pink/quote/quote.jsp?symbol=ttch#getCharts
Today's trading volume: 835k - mainly @ the bid imho
t 0.0172 400000 OTO 16:16:52
0.018 10000 OTO 15:03:52
0.018 200000 OTO 11:25:19
0.0175 25000 OTO 11:25:13
0.018 100000 OTO 11:25:13
0.018 100000 OTO 11:25:08
t 0.0172 205000 OTO 03/12
0.018 40000 OTO 03/12
0.018 1000 OTO 03/12
0.018 100000 OTO 03/12
0.018 50000 OTO 03/12
0.018 50000 OTO 03/12
0.018 2000 OTO 03/12
0.017 5000 OTO 03/12
0.017 6705 OTO 03/12
t 0.018 10000 OTO 03/11
0.016 24995 OTO 03/11
0.018 10000 OTO 03/11
0.02 2500 OTO 03/11
Overvalued
Stock is overpriced imho.