Post Reply
1-2 of 2
It has been moving up the past few days. Present share price of 9 cents is below its IPO price of 21 cents. Minimum downward risk by accumulating at the present low price as the "manipulators" or "synicates" have been accumulating, since May 2006, at prices of between 0.075 cents to 9 cents. Once they have accumulated enough, they will push it up, which seems to be very soon.
On 29 Dec 2006, CGL announced the setting up of a subsidiary known as Hainan Huadi Bldg (funded by internal resources as well as proceeds raised for working capital during its IPO in February 2006 with CGL holding a 92% share in the new setup) to broaden the revenue base of the company and enjoy a new source ofrevenue stream from a different, but related product. With this new income driver, its P&L shd grow for FY 2007. The share shd, therefore, head north soon. With only 50 million shares, the "manipulators" or "syndicates" who are in hiding will ramp it up soon ( IPO price was 2l cents) - its last quarter's annual report is due soon. It is best to buy up now when no one is buying as the price is very unlikely to dip further (very few sellers at its present asking price of 0.085 cents left) .