Posted by: naturallyk2 Member Level Date: Friday, June 04, 2010 12:20:38 AM In reply to: None Post # of 34393 Send a link via email Share on Facebook Tweet this post DD: The LOI was signed on the 25th of May.
On May 25, 2010, the Company signed a non-binding Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company ("FHH Sino") located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importers/exporters in Weihai, a coastal city in Shandong Province of Northern China.
On May 27th the SEC received the filing
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 27, 2010
INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in its charter)
Nevada 0-32323 20-1217659 (State or other jurisdiction (Commission (IRS Employer of incorporation) File Number) Identification Number)
17800 Castleton Street, Suite 638, City of Industry, California 91748 (Address of Principal Executive Offices) (Zip Code)
On June 2nd the PR was released
City of Industry, CA - June 2, 2010 - International Building Technologies Group, Inc. (OTCBB:INBG) announced today that it has signed Letter of Intent to merge with FHH Sino New Energies Co., Ltd., a Chinese company ("FHH Sino") located in Weihai, Shandong Province of China. FHH Sino is a petroleum storage company that offers petroleum storage tanks and facilities for rental to the petroleum importer/exporter companies in China. FHH Sino has made a good faith deposit of USD 230,000 with INBG to execute the signed Letter of Intent.
This "Shell" stock only had once reversed split and that was years ago..that tells me this isn't a stock that does reverse splits after it plummets to the abyss. That's great in my books.
shs decreased by 1 for 225 split Pay Date: Nov 1, 2006
Last date of reported outstanding shares on otcmarkets.com is # Outstanding Shares 493,244,027 as of Aug 12, 2008
Today it stands at 2.7 billion. A shell stock that is heavily diluted doesn't surprise me one bit at all. How else are they going to try and pay the bills when waiting on a merger?
Sure, it's fun and games when a company sits around spending money on a nice website http://www.ibtgi.com/ and doing things which leads investors believe that are spending on it company projects, but....
--- THIS STANDS OUT ----
Look at that website http://www.ibtgi.com/ and click on projects. It has China written all over it. Are they really doing things in China? Who cares... the connection here is that these so called projects are in CHINA and who the $%*# is trying to merge with INBG???? A company in Chhhiiiinnaaaa. If this was a math lesson then I would assume I just taught some of you how to add 1+1. In case some of you are curious what the sum is of 1+1 is its 2, but I'm sure all of you ( I would hope ) knew that.
Bashers - Maybe some of you are right in thinking that this is a well plotted scheme for a pump and dump from .0001 to .0012. That's a hefty profit for those who planned the scheme out. Roughly 1.2 million dollars were traded today and that's enough money to get those schemers out of the picture. I would say it's too early though to really start bashing because, like all schemes, many go very big. If you're bashing on this "scheme" and not playing it then you might get floored by the big picture that's about to happen.
The big picture?
Longs - The big picture here is that everything is adding up a lot better than poorly planned schemed. If this is a scheme... well it's a dammmmn good one. The high of .0012 isn't really going to be the all time high. In my belief, it's going to be A LOT higher. This is so well put together that:
1) The company is listed on OTCQB (Sort of BB), but is required to report fully. 2) I'm taking an educated guess that the company's debt is around 1.5 million or less because on of the statement on the 8-k ( Such US$230,000 will be debited against debts and accounts payable on IBTGI book of not exceed the US$1.5 millions as stated above ). $230,000 down on debt? That's great. 3) Because that 230 grand is more than likely going to be used on paying down debt one would assume a complete reverse merger would be make sense to pay off the rest and then some. 4) The above "then some" comes into play because FHH was appraised at 54 million. I'm sure the IBGN would like a little extra cash for doing the merge and I'm sure FHH would be happy to pay up just to get into the US market a cheaper way.
I could go on, but at this point I hope that I've sparked some of newer investors or traders to try out the process of DD. It might take some time, but in this case it can be as easy as adding 1+1.
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