Perfectenergy International Ltd (fka PFGY)

[rrufff]

Looks like we may be finally getting some action on $PFGYE. Good volume buys at the ask of .04. The last time there was decent volume on this, it was in the .40's. The chart isn't the typical penny dumping.

From the earlier filing.

Note 15 – Subsequent Event

On June 2, 2011, Tianjin Zhonghuan Co., Ltd. (“Tianjin Zhonghuan”), an A-share listed company in China’s Shenzhen Stock Exchange announced that its Board of Directors approved the purchase of shares of the Company’s common stock for an aggregate purchase price of not more than $6.3 million. Upon closing, Tianjin Zhonghuan will own a 35% stake in the Company. A definitive agreement has not been entered into, and the Company is in negotiations with Tianjin Zhonghuan to enter into a definitive agreement for this sale. There is no assurance that the sale will be consummated.

If you do the math, this is what it looks like:

$6.3 million / 35% = $18 million total value / 30 million shares = .60 a share

Options at .20.