Friend, you say you have owned this for a while. Refer to this:
"On September 24, 2007 a loan of 750,000 Renminbi ($109,142) was loaned by a company controlled by a director of the Company. This loan bears interest at 8% per annum and is secured by the assets of the Company and a personal guarantee from the President of the Company. The loan plus accrued interest was repayable on November 8, 2007. The Company has received confirmation that this loan will not be demanded until the Company secures adequate financing." http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6260903
Refer to this:
The Company's Shanghai operating subsidiary, i-level SoftComm Company Ltd. ("SoftComm"), has recently been named in lawsuits by Jin Jiang Transport and Shanghai Rui Tong Communication Technology Co., Ltd. in Shanghai's Xuhui District Court.
The plaintiff's claims are in relation to SoftComm's alleged contractual default of its obligation to pay the plaintiffs for services rendered in 2008. The plaintiffs are seeking payment in full of alleged outstanding balances in the amounts of Chinese Yuan 3,527,100 and 650,000 respectively (approximately US$516,102 and US$95,111 respectively, based on the exchange rate on January 13, 2008 of US$1.00 = Chinese Yuan 6.83411), along with late penalty fines and associated legal fees.
SoftComm has launched a defense in accordance with Chinese law and is expecting a court date to be scheduled in early February. The situation has caused an interruption in SoftComm's operations. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6349752
This company ceased operations in 2009. It never terminated it's reporting requirements. It has been reinstated by the current owner. I'll be back later
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