Replies to post #22869 on International Building Technologies Group, Inc.(fk

[Be Squared]

I am thinking the same thing after reading the 10Q - it looks as if there is some revenue that is going to hit this quarter - more than has ever hit the company before - if I were Yeung, I wouldn't mind the stock going down as his ownership will more than likely go up substantially

"We currently have signed Memorandums of Understanding and are negotiating contracts for various projects throughout China. Our endeavors include an entire new town, a university campus, luxury condominiums, resorts, social interest homes, and standard industrial buildings. We strive to establish fully operational panel facilities throughout China, where they are building more square feet of new housing, commercial, and industrial buildings than any other country.

In July 2007, our wholly owned subsidiary, International Building Technologies, Co., Ltd. ("IBT LTD"), a Hong Kong corporation, entered into an asset and purchase agreement with China based Suining Yinfa Construction & Engineering Co, Ltd. for 51% interest in a Chinese building project named Rose Top Grade (Rose Best) Project. The Rose Top Grade (Rose Best) Project, already underway, is located in the Sichuan Province of China and consists of four upscale residential apartment buildings with a total building area of approximately 49,500 square meters (537,000 sq feet). The project is anticipated to generate revenue from the 50,000,000 RMB (approximately $6,700,000 USD) contract over the next 17 months, 51% of which will be allocated to our subsidiary International Business Technologies. We purchased 51% of the Rose Top Grade (Rose Best) Project from Suining Yinfa for $350,000 USD, payable July 2009.

We have been incurring selling, general and administrative expenses primarily to develop our existing businesses, improve our current infrastructure to address anticipated growth and identify and evaluate complementary business development opportunities and marketing. The development of these businesses has led to recent operating losses and cash outflows. However, we believe that these actions will allow us to generate positive operating results in the future."

This seems pretty encouraging to me from reading the Q. We will see - I know the auditors would not go on the hook by putting this into the release without there actually being something really happening - as they are on the hook for innaccurate information. I happen to think that there is a glimmer of hope from reading this. A lot more hope than one of the company's past releases - which were all fluff.