Cavico Corp (fka CAVO)

[prokopton]

When I bought CAVO I considered it a lottery stock. After doing further due diligence and the recent price movement, I'm upgrading it to a highly speculative play. Cavico Corp. wholly or partly owns subsidiaries that have hard assets and recurring revenues that are substantially higher than its market value. However, it's hard to tell what its overall debt is or if it still owns some or all of those assets.

I bought some at $0.006 (had to wait two days to get filled) and now it's at $.15 with no news. CAVO's market cap. today is $601,000. If the company decides to file its 10Q and 10K with favourable numbers, CAVO could see a precipitous pop, IMO.

However, there are rumours that CAVO has sold some or all of its assets. But there hasn't been any SEC filing to indicate it has or hasn't. So, the assets listed below may not be of any value.

If anyone has links to "factual" evidence that Cavico has sold any or all of its assets, please provide them. I have no way of finding out from the SEC filings. Thanks.

CAVO Corp's subsidiaries:

--Cavico Construction Manpower and Services
--Cavico Hydropower Construction
--Cavico Mining & Construction
--Cavico Bridge and Tunnel Construction

Construction Manpower and Services

This is a joint stock company currently trading on the Hanoi exchange. It's profitable and pays a dividend. 2.2 P/E, market cap. USD 2.4 million, up 29% 1 year. http://www.bloomberg.com/quote/CMS:VN

Cavico Hydropower Construction

--Cavico Hydropower has successfully completed all construction activities at the Dong Nai 3 Hydropower Plant. http://www.marketwire.com/press-release/cavico-completes-construction-at-dong-nai-3-hydropower-plant-nasdaq-cavo-1334935.htm

--Cavico Hydropower Construction, has signed a tunnel construction contract with Song Giang Hydropower Joint Stock Company for the Song Giang 1 hydropower plant in Vietnam's Khanh Hoa Province.

http://www.hydroworld.com/articles/2011/01/cavico-secures-song.html

--Cavico Bridge and Tunnel, has signed a construction contract with Electricity of Vietnam, a state-owned electricity company, for the Song Bung 2 hydropower project.

http://www.hydroworld.com/articles/2010/12/cavico-awarded-construction.html

Cavico Mining & Construction

As of Sep. 14, 2011, this sub. was profitable and trading on the Ho Chi Minh Stock Exchange. "Cavico Vietnam Mining & Construction Joint-Stock Co. (MCV VN), which provides mining and construction services, rose 4.3 percent to 7,300 dong. The company said first-half net profit more than doubled to 2.5 billion dong ($120,000), according to a statement on the exchange’s website."

http://www.bloomberg.com/news/2011-09-15/vietnam-equity-movers-cavico-development-investment-infonet.html

It was eventually delisted from the exchange. MCV:VN

http://www.bloomberg.com/quote/MCV:VN/profile

Cavico Bridge and Tunnel Construction

--Cavico Bridge and Tunnel JSC signed a transport tunnel construction agreement with Korea-based Doosan Heavy Industries & Construction Co., Ltd. for the Noi Bai - Lao Cai Highway. The expected revenue value for this new contract is $5.8 million.

http://vnre.blogspot.ca/2010/06/cavico-signs-transport-tunnel.html


--Cavico Bridge and Tunnel Construction Co. has won a US$6.2 million contract for tunnel construction at the 280-MW Theun-Hinboun Expansion project on Laos' Nam Theun River.

http://www.hydroworld.com/articles/2009/02/cavico-to-build-tunnel-for-laos-280-mw-theun-hinboun-expansion.html

--On Jan. 21, 2009, Cavico Bridge and Tunnel construction reported revenue of 284 billion dong (VND), or USD 13,598,289.

TunnCavico Tunnel Bridge Construction Joint Stock Co (under Cavico Vietnam) last year earned 284 billion dong in revenue, achieving 118% of that year’s plan, 20.1 billion dong in pre-tax profit, reported deputy general director Kim Ngoc Nhan. - See more at: http://www.intellasia.net/cavico-bridge-and-tunnel-construction-firm-reports-284b-dong-revenue-in-2008-91071#sthash.97Fm8sVX.dpuf