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I have taken a position in this co. at the .07 cents level very recently. IMO, PRVH is likely to head back up toward .20 cents in the very near future! I will seek to prove this.
First, they are likey to be profitable again for the last quarter of '04 when they report their 10Q (their CEO has claimed this to be true) which should becoming out any day now. In December 2004, the CEO aquired more than 3 million restricted shares
("HUNTINGTON BEACH, Calif., Dec 2, 2004 (BUSINESS WIRE) -- Providential Holdings, Inc. (PRVHE) (Berlin Stock Exchange and Frankfurt Stock Exchange:PR7, WKN 935160) (www.phiglobal.com), a diversified holding company which currently focuses on mergers and acquisitions services, cutting tool business, and international markets, announced today that its Chairman and CEO Henry Fahman has acquired 3,350,000 restricted shares of common stock of Providential Holdings, Inc. at an average price of $0.0896 per share, in exchange for $300,000 of his loans to the Company. These shares are subject to a two-year holding period before being eligible for resale. ")
PRVH has continued doing more mergers and aquisitions work during January 2005. They should be finalizing the deal to aquire 51% of a Korean wireless manufacturer by Feb. 21, 2005. This company appears to be very profitable and growing radidly!
Yesterday PRVH announced: "Providential Holdings Retains OTC Financial Network for Comprehensive Investor Relations Campaign FRIDAY, FEBRUARY 18, 2005 12:49 PM - PR Newswire HUNTINGTON BEACH, Calif., Feb 18, 2005 /PRNewswire-FirstCall via COMTEX/ -- Providential Holdings, Inc. (PRVH) , a provider of international advisory services specializing in mergers and acquisitions, announced today that it has retained OTC Financial Network, a division of National Financial Communications Corp., to implement a comprehensive investor relations program." More info. is available about all these facts at the relevant websites below.
Also, the technicals for PRVH look oustanding! As their share price has declined...their stock has actualy been strongly accumulated! Money flow in has been strong (This makes me think PRVH has been shorted to some extent...along with new shares that came into the float. Total O/S is around 135 million shares with about an 80 million share in the float...as I understand it).
So, do your DD and buy if you're convinced...or you can just watch it and hop-on if it starts to run. Yesterday's trading along with yesterday's news and the coming news (the 10Q, the wireless company deal completion...etc...) lead me to believe that PRVH is on it's way back up. We shall see.
Oh yes...it should be obvious to all...I will be getting the word out about PRVH too. That is also worth something and worth considering.
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