Hong Yuan Holding Group (HGYN)

[tykundegex]

Does anyone know if some PIPE shares came off restriction lately? Except for profit-taking, I don't understand the steady drop in PPS here lately.

This company has so much going for it: has given guidance some very solid revenue for 2010, predicted cash-flow positive during Q3, has a superb management team, a industry pioneer at the helm, and is armed with patents that present a great barrier to competition.

If I didn't have any idea about the company's PPS in the past, I'd say it should trade around $5-6 now, and $10-15 late this year when they have proven they are profitable.

And they keep signing contracts with new buyers!

$3 can only be because of PIPE shares bought for $2 are now freely tradable. Any thoughts?

Tyk

Update: found this in the 10Q from Sept 09:

"During the nine months ended September 30, 2009, the Company issued 33,326,819 shares in exchange for gross proceeds of $1,666,341 under private placements"

post-split, that's $2/share. That would explain it.. I hope!