Yinhang Internet Tech Dev. Inc. (YITD)

[LouisDesyjr]

Absolutely ridiculous valuation

According to yahoo.com, the company has a share price of $1.38/share, giving it a market cap of $54 million. According to the July 31, 2013 quarterly report, a person buying shares get ownership in a company that:

1: Only has $30K in cash and no other assets.

2: Has never had any revenue, never pumped any oil.

3: Spent over $500K to do what appears to be nothing. Of this amount the company’s officer got over $350K.

4: They did purchase some lease rights in Wyoming for one million shares, but it is unclear, what value, if any, the leases have. In addition, with only $30K in cash it is questionable as to how they would ever develop such leases. An additional warning to me is that the leases were purchased from a company organized in the British Virgin Islands.

Louis J. Desy Jr.
[e-mail]