Hey novice, do not expect any outsider to pay any attention to this company. Other then the last filing of three 8Ks nothing else has made any news. And the sellers are probably people that either go back to purchases made during the March pump, or they even people who bought shares during the unit issuing period and now are cleaning up house by taking actual losses to offset some big profit made with other investments made on well known companies.
There is no doubt in my way of thinking that once Wang issues a normal informative press release or even the remarks outlined on the 10K, this stock will make news and attract new shareholders. Actually, if the news itself is positive it should generate a trading day of at least one million shares changing hands.
Marcum acceptance as the new accounting firm of First China is not even an issue--they have accepted the position on day one when the last 8K was issued. The only present delay is more related to how Rottenberg behaved and depending on that outcome we will know if Marcum has been working with the Rottenberg people to complete the 10K or if they have been left stranded and have to do the job by themselves from scratch! The outcome of one of these two options will determine if Wang can complete the 10K with a reasonable expense of $50-80 thousand dollars(or more), or if he has to spend double that amount or more to have the job done by Marcum alone! This is the reason for the delay--one of these two options must be taking place right now! Whose signature are we going to see on the 10K will give you a hint of the cost involved.
ONE MORE THING--TWITTER HAD ITS DAY YESTERDAY BY ALMOT DOUBLING AND THAT IS PROBABLY THE BEST WE WILL SEE. HOWEVER, FIRST CHINA WILL REACH THE SAME DOUBLING POINT SOON BY REACHING 16 CENTS AND AFTER THAT WILL CONTINUE TO GO UP IN STRIDES TO THE 30, 40 AND 50 CENTS MARK WHILE THE TWITTER WILL PROBABLY SIT THERE OR WORSE GO DOWN BACK TO THE INITIALLY INTENDED IPO PRICE OF 25.
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