Here's the problem with CLGZF. Hutech21 Co. Ltd acquired Hutech HongKong Company, Ltd. in exchange for 66,000,000 common shares. That's the new owner of CLGZF. Mr Park is no longer the majority shareholder, the filing detailing the agreement shows him as holding 15,243,181 shares, or 23.1%. That means the outstanding share count is about 65,987,797. At a share price of $1.00 that gives the company a market value of about $66 million. Is it worth that? Without any financials, news, or a statement from a single one of the principals it's impossible for me to attach any realistic value to the company since I have no idea what Hutech HongKong Co. Ltd. is or does. Uncertainty kills stock prices, and it's killing this one.
I will say this, however. Since there has been almost no dollar volume traded since the r/s or the share exchange with Hutech HongKong nobody on the inside has made any money. I cannot believe that all the time, trouble, and money spent setting this up was done for nothing.
I will also say that I was in here early, profited nicely when it spiked on 2/14 and held some "free" shares because I thought it may amount to something. I would have been much better off selling all on that day and if I'd still been enamored with it could have bought back later. A lesson I seem to refuse to learn. I'm holding 500 post-split shares.
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