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WOW over seas penny stocks. Ya'll are taking this risk thing to a whole new level!! I'm gonna sit on the side lines and see how well this works.
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actually, we're talking about companies in america doing business in China, world's fastest growing economy with billions of people. Don't confuse this with mexico, amigo.
Posts: 785 | From: la | Registered: May 2005
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quote:Originally posted by MoMoMoney: actually, we're talking about companies in america doing business in China, world's fastest growing economy with billions of people. Don't confuse this with mexico, amigo.
and Chinese entrepreneurs buying shells here, for exposure to US capital...
just sold some offa geek play, weird divvy thing, spent a nickel to make 60-80 bucks--cuz they don't have IR folks in USA. However, am DD-ing one that has so much presence here, the underwriter called me today cuz the IR firm couldn't answer.
FORT LAUDERDALE, FL and NINGBO, CHINA--(MARKET WIRE)--Jan 27, 2006 -- Dragon International Group Corp. (OTC BB:DRGG.OB - News), one of China's leading manufacturers and distributors of specialty paper products and packaging materials, announced today that its subsidiary, Hangzhou Yongxin Packing Materials Company, Limited ("Yongxin"), has received two purchase orders from Hangzhou Jianan Printing Company, Limited. Yongxin will supply 150 tons of glassy paperboard and 0.51 ton holographic paperboard per month. The initial orders are valued at $3.3 million per year. Chairman and CEO David Wu stated: "We have been working very hard to integrate Yongxin into our own manufacturing division after the acquisition last July. We are very pleased with Yongxin performance and we believe Yongxin will substantially contribute to our growth in 2006 and beyond. These recent orders demonstrate the benefits of consolidation strategy of the specialty package in China. We expect to have a solid year in 2006 and major growth in 2007."
About Dragon International Group Corporation
Dragon International Group Corp. (OTC BB:DRGG.OB - News) ("Dragon"), owns 100% interest in Ningbo Anxin International Company, Limited ("Anxin"). Anxin, established in 1997, is located in Ningbo, Zhejiang Province, China, approximately 200 miles south of Shanghai. Anxin is one of China's leading manufacturers and distributors of specialty paper products and packaging materials. Anxin is operating as a manufacturer and distributor of paper and integrated packaging paper products. Anxin, through a subsidiary, holds an ISO9000 certificate and national license to import and export products. In addition to its own operations, Anxin operates four subsidiaries, including: (i) Jiangdong Yonglongxin Special Paper Company, Limited, (ii) Hangzhou Yongxin Paper Company, Limited, (iii) Ningbo Xinyi Paper Product Industrial Company, Limited, and (iv) Xianyang Naite Research & Development Center. Anxin has a distribution network covering east and central China. Dragon and its subsidiaries have cultivated strategic relationships with several of the world's largest and well-known manufactures of paper and specialty packaging products. Fore more information, please visit http://www.drgg.net.
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Safe Harbor Statement
Certain of the statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate," "project," "intend," "forecast," "anticipate," "plan," "planning," "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited financial resources, domestic or global economic conditions, especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.
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c'mon, i know there are more china stocks out there, undiscovered companies who are doing business with China and will be big. List them here!
Posts: 785 | From: la | Registered: May 2005
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Be careful out there! --------------------------- Chinese stock taking back road to USA By Elliot Blair Smith, USA TODAY Chinese companies with unreliable financial statements are beating a backdoor path to unsuspecting U.S. investors, federal securities regulators say.
The schemes rely on penny stock "shell" companies that trade on the OTC bulletin board or pink sheets, often years after the original business for which the securities were issued failed or was sold. A penny stock typically sells for less than $5 a share.
Under one scheme known as a "reverse merger" — because the acquired company survives the shell it is merged into — the shares trade on little more than hype. That is possible because reverse-merger companies can sell stock up to 71 days before issuing audited financial statements, the Securities and Exchange Commission says.
In a related scheme, shell company promoters receive large blocks of stock through a loophole intended for employee-benefit plans, though shell companies have few if any employees. "Contractors" are able to resell the stock to the public without registering it with regulators or providing buyers with a prospectus, the SEC says.
Recognizing the potential for abuse, the SEC wants to tighten reporting rules. In a proposal out for public comment, it would require reverse-merger companies to disclose full financial information within four days of a deal and end shell-compan
-------------------- "Whether you think that you can, or that you can't, you are usually right." - Henry Ford Posts: 798 | Registered: Jun 2004
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