Chinanews.cn reports that Beijing Xinwei Telecom Technology is actively seeking a U.S. listing through a merger opportunity.
Wed Mar 19, 3:01 AM ET
Beijing, China (PRWEB) March 19, 2008 -- Beijing Xinwei Telecom Technology Inc, after a year of waiting to list on the Szhezhen Stock Exchange has taken a different path according to chinanews.ca. In early 2007, Xinwei failed in its bid to list on the Szhezhen, and in its bid for an IPO. They are looking to reverse merge with a U.S. based company. Clayton Dunning Group, (CGGP) a listed Pink Sheet shell company, seems to be the front runner. In a China News telephone query, Zhen Shui, a Senior VP stated, "We have been looking for a candidate with no debt, and enough shares and liquidity options for our stakeholders. Rather than an expensive and time consuming IPO, we will merge with a U.S. public company shell and move straight to Nasdaq or NYSE quickly but on our own schedule. Clayton Dunning is one of several companies that our advisors have investigated and according to them, this is the one company that we will focus our efforts on. We will proceed with following announcements in weeks coming ahead. This merger will be beneficial for all parties involved, and former shell stockholders would retain 15-20% of new company." Shui would not comment on additional negotiation specifics or timetable, but said the agreement could be finalized by May. Xinwei reported revenues of U.S. $235 million in 2007.
About Beijing Xinwei Technology, Inc.
Beijing Xinwei Telecom Technology Inc, founded in Nov. 1995 and reorganized in 2000, owns advanced technology with whole essential intellectual property rights and becomes the drive of modern wireless communication industry. The company is a high-tech enterprise which integrates product research and development, manufacture, sales, installation and after-sale services. The headquarter and the research center locate in Beijing. Chongqing Xinwei, the subsidiary company, is one of the national core demonstration firms, which has modern manufacturing capability and quality control system. Shenzhen Research Institute plays an important role in industrialized product research. Beijing Xinwei Telecom Technology Inc, has over 2500 employees。
Based on the strong research and development, Beijing Xinwei Telecom Technology Inc. devotes itself into the national telecommunication industry. It transforms the technology of smart antenna, synchronous CDMA, air interface channel and the software radio into satisfied products and services. The comprehensive equipments provide an integrative solution on wireless mobile voice and wide band data, which create high profits with low costs for the operational companies.
Headquarter Addr: Xinwei Building,No.7 Zhongguancun Software Park,No.8 Dongbeiwang West Road,Haidian District,Beijing China Tel: +86-10-62802288 Fax: +86-10-62802299 Zip code: 100094
I sold CGGP shares thursday 3/20/08 after receiving pm's from colleagues questioning the news validity and could not verify news report with companies or origin of news.
Sent By: xxxxxx To: AngelHillCorp Date:3/19/2008 5:44:08 PM
FYI, anyone can post PRs on that website...might be real, might be fake...no one knows CGGP faithful claim it is real - lotsa skeptics FWIW...just a heeadsup, not offering an opinion
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Sent By: xxx_xxxx_xxxxxx To: AngelHillCorp Date:3/20/2008 12:08:47 PM
its fake, same dude did the exact same thing with JUNI a couple months ago, of course just IMO
Clayton Dunning Group, Inc. Comments on Recent Trading Volume
March 25, 2008 - 1:30 PM EDT
Clayton Dunning Group, Inc. (CGGP), issues this press release to comment on recent trading volume.
It has come to the attention of the Clayton Dunning Group, Inc. (the “Company”) that a certain press release, which is available on the internet, has been issued by an unknown source regarding a reverse merger with a Chinese telecom company “Xinwei Telecom Technology”. This press release was not authorized by the Company, is completely false and the Company has no knowledge as to who caused the press release to be issued.
About Clayton Dunning Group, Inc.:
Clayton Dunning Group, Inc., is a financial services holding company whose principal subsidiary, Carlton Capital, Inc. is engaged in providing a general securities brokerage and investment banking and other related financial services to individuals, institutions and corporations.
Clayton Dunning Group Chris Messalas Chairman 866-414-3744 CMessalas@claytondunning.com
i sent this to sinocast and comtex ... sinocast came back as invalid email ... comtex responded back and said that would try to validate with their resourses in china and would get back with me .. i also talked to the editor of trading markets would said then just get them thru comtex and he would try to validate it ... he said the report looks to be written up like a rumor ... did you hear anything yet .. i talked to joe emas last attorney of record .. he said he is not involved at all with the company now just put out the last filing ... he did not know anything or have any contacts ...
i got this from comtex monday morning 3/24/08 .....
Hello,
Comtex is a news aggregator meaning we aggregate content from several publishers and then distribute the resulting newsfeeds to sites and other third party distributors. Sinocast is one of our publisher partners. It appears this story must have been scraped from the TradingMarkets.com site (one of our customers who is licensed to use this content) and was placed on the free site you mentioned. If you have a question about this particular news story I suggest you contact Sinocast as they were the original source.
Thanks, Lauren
----- Original Message ----- From: Angel Hill Corporation To: editor@tradingmarkets.com Sent: Friday, March 21, 2008 2:23 PM Subject: Validate News Article ...
i have contacted jeremy with comtex in regards to validate article .... he is going to try to validate with his resources in china .......
jeremy ..... cs@comtex.com ...... 703 797-8135
if i hear anything i'll forward it to you please forward any validation you may receive
michael
Sir,
This news story seems to be going around the internet. It is believed to be fraud. It first showed up on a unvalidated free press site PRWEB & NETEASE in China. No One seems to be able to validate it. On this stock trading site it claims origin from you SinoCast .. Comtex ... But I could not find it on your site. Other sites like PRWEB claim other origins that no legitimate source can be found. Can you please verify this news came from you and tell me if this news is legitimate. I have contacted both companys involved with no response yet. I have included web references to the story. Included is reference where it was first found on PRWEB a free access press site where anyone can post.
BEIJING, Mar 21, 2008 (SinoCast via COMTEX) -- NO MATCHES FOUND. | news | PowerRating | PR Charts -- Beijing-based wireless communications developer Xinwei Telecom Technology may look for backdoor listing on the Pink Sheet market in the US, citing a report.
The company planned to get listed on the Shenzhen Stock Exchange one year ago, but has not got the regulators' approval by far. And now, they will possibly be acquired by a company listed in the US.
Clayton Dunning Group Inc. (PINK: CGGP), a global corporate financial advisor, is said to be the most possible target.
A Xinwei Telecom Technology executive says that his company has been seeking a US-listed company, which has enough floating shares with satisfying liquidity but does not have liabilities, and its consultants thought Clayton Dunning Group can meet its request, according to the report.
Besides, it said that the company would announce the to-be-acquired plan in the several weeks and strive to complete the transaction in May 2008, when the acquirer will hold a 15% to 20% stake in the integrated company.
From 123-4.com, Page 1, Thursday, March 20, 2008 info@SinoCast.Com
Free Trading Course from TradingMarkets – Click Here
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The china report looks to have come out at 10:46 am et If that is true than that is after the Prweb news.
Also one claims the report origin came from Chinanews.cn and the other claims to have come from The net easy science and technology news.
I could not find the origin report of either site.
Beijing, China (PRWEB) March 19, 2008 -- Beijing Xinwei Telecom Technology Inc, after a year of waiting to list on the Szhezhen Stock Exchange has taken a different path according to chinanews.ca. In early 2007, Xinwei failed in its bid to list on the Szhezhen, and in its bid for an IPO. They are looking to reverse merge with a U.S. based company. Clayton Dunning Group, a listed Pink Sheet shell company,
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Passes on the Beijing letter prestige correspondence to want taking advantage of the shell to go to America to go on the market
The net easy science and technology news on March 19 the news, to report according to the related media that, planned went on the market in Shenzhen stock exchange IPO but waits for more than a year time fruits' Beijing letter prestige communication limited company not to decide 鍙﹁緹韫婂緞.
I found no origin of news report on Net Easy Science and Technology ....
In at the beginning of 2007, believes the prestige correspondence not to be able to succeed the realization to go on the market in the long-standing and deep-rooted friend. They start to seek through are purchased by the American company the way to realize go on the market. As if most has the object in American Pink Sheet market license shell company Clayton Dunning Group which the possibility cooperates.
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** Original post by NYC62 on merger ..
Posted by: NYC62 ... #msg-27465005 In reply to: None Date:3/8/2008 5:01:27 PM Post #of 8981
Hello everyone. I am new here to Ihub and created a name for the specific purpose of posting here on the CGGP board. I have been reading here for quite some time and felt the need to help out. I live and work in NYC and while I could never reveal my identity, just know that I am close to Mr. Messalas and his company. There will be an announcement shortly, one that will both excite you and amaze you. I hear that CGGP will be merging with a Chinese telecom company with revenues in the quarter of a billion dollar range. Announcement will come in due course. Please do not ask me any questions as I will refrain from answering. That means ALL questions. Keep an eye out for news. Not jusr here but other places too. I hear that this company may be written up in an independent China news service. Thank you very much. I think any of you that are patient as some of you have written, will be extremely pleased. Extremely. http://investorshub.advfn.com/boards/profile.asp?user=121240
Went to http://www.Chinanews.cn thru babelfish web site translation. This is where the report was suppose to have been originated. I could not find it on their site. I thought it should be under their economic news. I could not find any reference to it in any Chinese search.
Manhattan Transfer Agent ... 631 928-7655 T/A said they have not been in touch with them in months and gave me this contact # 866 414-3744 saying good luck with the #
I wrote Xinwei Telecom Technology with no response yet ...
----- Original Message ----- From: Angel Hill Corporation To: sunnan@bj.xinwei.com.cn Sent: Thursday, March 20, 2008 12:17 AM Subject: Xinwei Telecom merger with Clayton Dunnings Group
Can you please verify if this China News Report is legitimate . ASAP
Is Xinwei Telecom Tech in a proposal of merger with Clayton Dunnings Group ?
Can I believe the statements in this China News Report ?
Chinanews.cn reports that Beijing Xinwei Telecom Technology is actively seeking a U.S. listing through a merger opportunity.
Beijing, China (PRWEB) March 19, 2008 -- Beijing Xinwei Telecom Technology Inc, after a year of waiting to list on the Szhezhen Stock Exchange has taken a different path according to chinanews.ca. In early 2007, Xinwei failed in its bid to list on the Szhezhen, and in its bid for an IPO. They are looking to reverse merge with a U.S. based company. Clayton Dunning Group, a listed Pink Sheet shell company, seems to be the front runner. In a China News telephone query, Zhen Shui, a Senior VP stated, "We have been looking for a candidate with no debt, and enough shares and liquidity options for our stakeholders. Rather than an expensive and time consuming IPO, we will merge with a U.S. public company shell and move straight to Nasdaq or NYSE quickly but on our own schedule. Clayton Dunning is one of several companies that our advisors have investigated and according to them, this is the one company that we will focus our efforts on. We will proceed with following announcements in weeks coming ahead. This merger will be beneficial for all parties involved, and former shell stockholders would retain 15-20% of new company." Shui would not comment on additional negotiation specifics or timetable, but said the agreement could be finalized by May. Xinwei reported revenues of U.S. $235 million in 2007.
About Beijing Xinwei Technology, Inc. Beijing Xinwei Telecom Technology Inc, founded in Nov. 1995 and reorganized in 2000, owns advanced technology with whole essential intellectual property rights and becomes the drive of modern wireless communication industry. The company is a high-tech enterprise which integrates product research and development, manufacture, sales, installation and after-sale services. The headquarter and the research center locate in Beijing. Chongqing Xinwei, the subsidiary company, is one of the national core demonstration firms, which has modern manufacturing capability and quality control system. Shenzhen Research Institute plays an important role in industrialized product research. Beijing Xinwei Telecom Technology Inc, has over 2500 employees.
Based on the strong research and development, Beijing Xinwei Telecom Technology Inc. devotes itself into the national telecommunication industry. It transforms the technology of smart antenna, synchronous CDMA, air interface channel and the software radio into satisfied products and services. The comprehensive equipments provide an integrative solution on wireless mobile voice and wide band data, which create high profits with low costs for the operational companies. Headquarter
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