VaporBrands International Inc (VAPR)

[mfitrader]

That PR doesn't make sense.

According to the press release,

"... TTCM China announced the negotiation to acquire JianXin Electrical Power Company in HongYa Xian in Sichuan Province. The company was established in 2005 with load capacity of 7,660KW of which 630KW went into production in 2006; the balance is scheduled to go into production this year."

The last time they had a press release about a power company, they claimed they already owned the power plant and it was already producing electricity. They said they expected $1.5 million in revenue from the power plant the first year. Dr. Choe finally admitted to me that TTCM China never owned that or any other power plant.

In the latest press release, they say they are in "negotiation" to acquire a power company that has been in existence 3 years. They say it "was established (in 2005) with a load capacity of 7,660KW." Then they claim the first output of electricity wasn't until 2006 when they produced 640KW of electricity, and "the balance (over 7,000KW) is sceduled to go into production this year (2008)."

What happened to the company in 2007? According to the press release, the only electricity produced so far was 630KW in 2006 (out of 7,660KW). Nothing was mentioned about their production in 2007, only that "the balance is scheduled to go into production this year."

The numbers they provided in the PR make no sense. Didn't they produce any electricity last year? If not, why not? But at least they are leaving wiggle room to say it is only under "negotiation". Last time they said they already owned the power plant, which turned out to be a fraudulent claim.