Pennystockchasers VGPR article last Wednesday. I bought last Thursday at .019 and with today's close at .014 I am down 26%. What is going on with this stock and with the news released last Wednesday that is listed below WHY ARE WE DOWN 26% I have never used pennystockchasers before but this looked like a good buy and have I made a huge mistake or will this turn around soon.
Penny Stock Chasers VGPR Report last Wednesday 12/9/09
VGPR, The deal announced today is a jaw dropper, THIS KIND OF UPSIDE IS RARE IN A PINKSHEET STOCK
VGPR closed at .019 today. This is incredibly low given the GIGANTIC PR released by the company. The stock bounced off support again today.
They have a deal today to build 10 torrefaction plants with a company in China. The revenue stream from this deal makes VGPR a money machine. We will call VGPR tomorrow to try and get some feedback on the financing structure for this build out.
VGPR has taken some extraordinary steps to create value and we still the stock should be way above the 52 week high of .039.
Vega Signs Large Torrefaction Agreement With Hong Kong Firm
2009-12-09 12:02 ET - News Release
LONDON -- (MARKET WIRE) -- 12/09/09
VEGA PROMOTIONAL SYSTEMS, INC. (PINKSHEETS: VGPR) announced today it has entered into a Joint Venture Agreement to build multiple manufacturing plants throughout China to produce alternative energy using torrefaction technology.
Vega and its Joint Venture partner, Global Capital Market, LTD (GCM), located in Shenzhen City, China, plan to build up to 10 manufacturing plants throughout the country. The Joint Venture company will utilize special torrefaction technology to produce pellets from organic waste products that will then be sold to power generating companies.
GCM is providing the land for the manufacturing facilities, the factories, and the necessary biomass resources to produce 100,000 metric tons of torrefaction pellets annually in each plant, generating approximately $14 million in annual revenue, per location.
Michael K. Molen, Chairman of Vega, stated, "We have been working on this project for quite awhile and we are very proud to have an Agreement in place. We have a very strong partner in China and look forward to building multiple manufacturing facilities throughout the country. GCM and its partners will provide us with an unlimited supply of raw biomass that will be turned into torrefaction pellets. The demand for this product around the world is substantial. We believe that we are in the right place at the right time. This Agreement has the potential to change our Business Plan tenfold. Our plan is to have the first plant operational within the next few months. We'll have a lot more information about the size and scope of this project in the next couple of weeks."
In addition to China, Vega now has active projects under way in Western Indiana, South Georgia, and Brazil.
