it can be many reasons for FHH to acquire INBG, for example, for primary reason, a private company can go to public by acquiring a shell company, it means more funding for their business, remember they are working on the first project? how about after that? they may need public funding to work for its second pending project, and according to 8-k, it's a big project, other reason maybe its business partners such as Sino-chem and Sino-petro show interest to own a portion of FHH as FHH is the only one who attain approval to build storage oil tanks in WeiHai, it means a monopoly business, and they will buy shares of FHH, maybe FHH got offer from such companies in advance so they decide to go public, then those oil companies will simply buy FHH's share or just buyout it if they see FHH has huge potential, just too many reasons to go public, another reason can be that FHH wants to use INBG's machines to produce oil tanks, as from INBG's previous news in year 2007, they ever bought a machinery manufacturing company, from now on, we can only guess, but i believe the reasons will be stated in PR later on,
as i pointed out, the content of other LOIs for other shell companies are usually much simple and short when compare to INBG's LOI, some even don't have the short form name of the company they intend to merged into, so from what i read in the INBG's LOI, they have company name(although in short form), address, basic financial info of FHH, future projects of FHH, and the signature of FHH's manager, Good faith deposit of 210k, legal 80k document filed to SEC, actually it already has much more info than other LOIs for other shell stocks, since LOI is just a priliminary agreement of both party, yet they were able to provide that amount of information, it actually impresses me, although the usual negotiation period is 2-3months for merger deal, but i can expect this deal can close much faster, maybe in 1-2 month, because both parties are chinese, easy to communicate and negotiate, and they were able to provide so many info of FHH in just a priliminary agreement, it means they know each other pretty well, they won't have much to negotiate about during their due dilligence period, except those accounting stuffs do take time, and the time of preparation of PR
i don't care much about the current PPS, since after the news of merger closing hits the wire, people will all rush to buy, pps will go up to 0.004-0.01 in one day or two just like all other R/M news hit the wire suddenly in the past, so it makes no difference, but smart people will buy before the news, unless u can monitor the stock market all day long so u can immediately jump in right after the news hit the wire
however, i seriously think the current pps is significantly undervalued as we got so many info now about both parties, just look at how people speculate other R/M play, only basic on rumors, either no specific range of date for merger to close or legal document about R/M, and yet, some shell stocks are trading above 0.001-0.003, just to name a few like RNWF,NWTT,SSWC etc or MMG's R/M joke, like uwrl which will merge into a zero asset company, and yet, trading at 0.0012, that's why i said INBG is significantly undervalued as a shell stock
However, i have good confidence that we will see a complete different picture in the following weeks, i will only suggest people to load all the cheapies early next week as i think we will soon no longer see such price, i myself must do so, just use NWTT as an example, it jumps to 0.0011 in just 2hours from 0.0003 suddenly last week, whenever MMs think they have loaded enough cheapies, they will won't build blocks on ask, so they can sell shares in higher price to investors, that's how they earn money, so just no need to feel depress to see pps lingering around 0.0002-0.0004 last few weeks, becoz we never know when MMs will open the gate at the ask side
Nice Weekend Everyone
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