China Energy Savings Technology (CESV)

[beigledog]

This is how CEOcast.com summarized it in their weekly email...

China Energy Savings Technology, Inc. (NASDAQ: CESV), a leading provider of energy saving products in China, said that its chairman and chief executive Sun Li has resigned to pursue his own business and personal interests and will be replaced by Kwun Luen Siu, effective immediately. Note that Mr. Li is the company’s largest shareholder by far, and has filed to sell approximately 6 million shares of his common stock in a $50 million offering of securities. With the offering likely to come at a significant discount, we would suggest investors avoid the stock if and until it is completed. Shares ended the week at $7.02, down 89 cents.