VaporBrands International Inc (VAPR)

[mfitrader]

This was TTCM China's last PR about a power company. They claimed they already owned the power plant and it was beginning to produce electricity. Unfortunately, the press release was false. According to the president, Won-Gil Choe, they never owned a power company:

MOUNTAIN VIEW, Calif., May 5, 2005 (PRIMEZONE) -- TTCM China, Inc. (Pink Sheets:TTCH), a leading supplier of glass-reinforced plastic pipes, announced that its newly built Liao Ning Carbonization Power Plant, has turned on power production with initial capacity of 150 thousand tons. The plant will be fully operational by the end of the year with total capacity of 400 thousand tons.

"This is a significant move for TTCM into the energy market," said Mr. Wang, Chairman of TTCM. "This is just one of our vertical business expansion strategies, which directly complements our core business of pipeline product. This exciting announcement highlights just the beginning of our planned domestic and international expansion."

The power plant will initially contribute approximately $1.5 million in incremental revenues in 2005...