Thanks. OK a few questions.
On page 5 it shows that on March 8th, 78 million free trading shares were issued for .0001 to a Chinese person and it says "debt service".
What does this mean?
The company repaid debt to this guy with 78 million shares?
So, in 4 months, this guy's shares are now worth almost 5 million dollars from an original value of $7800!
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As far as their facilities, it seems they only own 1 building:
"The Company’s facilities consist of an industrial building located in the suburb of Beijing in China."
I guess I would have thought they would have had more. Who knows the value of this building?
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They started out with about 20,000 dollars and raised close to 300K during the first Quarter.
That still is not a lot of cash. Most of the asset value is from the patents - hopefully the listed value is accurate.
Neither do they have a lot of debt or liabilities.
But they will definitely need to raise capital in the new future, wouldn't you think?
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There was zero income in Q1 so they are not selling anything right now.
This is surprising to me because there were pictures of cars supposedly being shipped, a picture of a new train, etc. But none of these were sales? No sales have yet been registered?
Producing those cars and trains would have cost significant money, but I don't see that kind of money listed in the expenses for the quarter.
Anyway, it is clear that we are not merging with some multi-million dollar company that is going full throttle with amazing sales figures, etc.
They call themselves an emerging growth company so the bet is on future growth and success.
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And this is, as of yet, unaudited. So I still see some significant risk here.
What am I missing?
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