Xinde Technology Company (fka WTFS)

[TreasureCoasting]

I don't know but it's trading like they're going out of business and putting up their assets for public auction at 10c on the dollar.

Assets look pretty solid and there's no fluff like mega-millions in goodwill, etc. SS is steady at 240 MM OS. Net asset value is about .38c per share and I'd think if Xinde were flying under the red, white, and blue they'd be trading well north of that. Chinese bookkeeping issues and reporting omissions by many companies over the past few years may still overshadow trust in Chinese companies' reporting. Perhaps perception is truth.

Sales year over year are soft with only about 1/3 of the revenues from a year ago but earnings were +.014 last quarter. Now, annualize that and we're trading less than earnings. PRs of technology improvements and advancements have been positive and impressive.

Bottom line is, I think there is still significant short interest absorbing anyone willing to sell into their open orders to cover. Damn few buyers so it's working for them. Volume is way down so I'd guess many are just holding for a rebound.

This is just my best guess and I have no knowledge of the company's inter-workings. Glad I reduced in the .05s but I added back at .041. We'll see. Still looks like a value play to me but requires great patience.