ECGI Holdings Inc (ECGI)

[Potse]

SUIP...accumulated a position.....

Accumulated a pretty good-sized position in the SUIP shell over the last few months (purchased shares in the 1-3.5 cent range, currently averaged in around 2.8 cents).

1) 6.3 million shares outstanding

2) $220K market cap at the current .035 ask

3) Insiders directly own only about 10% of the stock (obviously I would prefer to see a higher number there), but CEO Xuguang Sun has voting control of the company via non-convertible preferred stock. That preferred stock is owned by the CEO's mainland China company: Sunrise Lighting Holdings Limited (Tian Xing Lighting & Electrical Co.), which is a 14-year old company involved in lighting/electronic equipment, employees apparently number in the 500-1000 area, and the existing or new factory that was built apparently can accomodate 2000 employees.

http://www.ttnet.net/show_html.jsp/profile/SS/infohtm/Y/oday//cono/10124589/type1/A

In March the CEO purchased a subsidiary from SUIP, which I view as "housekeeping" in advance of a potential reverse merger. The fact that SUIP disposed of this particular subsidiary makes me believe that management is leaning more towards completing a full-scale type of reverse merger rather than injecting cash into the shell and making a partial investment/loan similiar to what they did last year (but that is just a hunch on my part). From the last quarterly report.....

Management is currently looking for more capital to complete our corporate objectives. In addition, we may engage in joint activities with other companies. Sunrise cannot predict the extent to which its liquidity and capital resources will be diminished prior to the consummation of a business acquisition or whether its capital will be further depleted by its operating losses. Sunrise has some discussions concerning potential business cooperation or combination with other companies but no final agreement has been reached yet.