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silentgold

06/26/07 12:18 PM

#3239 RE: 98point6NY #3238

Follow Up Comments

Be specific has to what items you want cleared up.

The spin offs were determined by searching on the names.

HiTech info was from a web search.

$500 million backlog was in an article but it is not broken down as to what is done by each spin off.

If you check the annouoncements for contracts that were awarded you often will see things like 'Cavico Mining' which can't be included for the core company.

Some press release Examples
1. $1.1M contract - For Cavico Mining and Energy Construction
http://biz.yahoo.com/iw/070530/0259141.html

The article calls Cavico Mining a subsidiary which is no longer since the company is publically traded in Vietnam. Energy Construction is a subsidary but there is no breakdown has to how much each of the 'entities' will get.

2. $3.5M contract - same issues as above.
http://biz.yahoo.com/iw/070416/0238980.html

3. $20.7M - okay with this as it is for the Tunneling Subsidary.
http://biz.yahoo.com/iw/070515/0252795.html

4. $4.7M - this is just for Cavico Mining so revenue can't be counted.
http://biz.yahoo.com/iw/070321/0229129.html

5. $6.2M - okay with is as it is for the Tunneling Subsidary
http://biz.yahoo.com/iw/070314/0226669.html

6. HydroPlant - don't have the URL handy but a press release mentioned that once the plant was built it would generate revenue of $50M/year. Cavico Mining was involved in the contstruction and it is unclear as to what part of Cavico plans on operating the facility.

I am not trying to get people to drive down the stock so I can but it cheaper. Actually I bought the day before trading was halted at an average price of $1.76 and intend to buy more once trading resumes, no matter what the price is.

The point I was making in my other post is that it is not clear how the company now functions. However, I am sure that there will be a big downward scaling of the revenue expected for 2007 which was stated to be between $130M-$140M. The spin offs were done in 4Q of 2006 so that year's revenue of $80M should be fairly accurate, subject the scrutiny of the GAAP audit.

Due your own Due Diligence

Also you might write to Timothy Pham at Cavico since he has been very responsive to people's questions.