posted
Amtech Resources Signs Agreement to Merge with Xin Hong Ye Real Estate Development in People's Republic of China 6/28/2004 3:48:00 PM NEWPORT BEACH, Calif., Jun 28, 2004 (BUSINESS WIRE) -- Amtech Resources (Pink Sheets:ARII) has signed a Letter of Intent to merge with Xin Hong Ye Real Estate Development Inc., one of the fastest growing real estate development companies in South China with over $30 million (USD) in revenues. Terms of the merger were not disclosed. Amtech anticipates that the merger will be finalized within the next few weeks pending shareholder approval.
With headquarters in Shun De, in the Hong Gang Gan Yaun Industrial District, Guaong Zhou Province, Xin Hong Ye specializes in the design, construction and property management of shopping centers, office buildings, housing projects and toll roads. The company has developed an exceptional reputation for its high quality of work with government agencies throughout the People's Republic of China.
Xin Hong Ye Real Estate Development Inc. has been incorporated in the People's Republic of China since 1992. The company is currently involved in a massive city development project in Northern China and construction of a large land fill site in Southern China.
Disclaimer: The company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
SOURCE: Amtech Resources
Pegasus Capital Inc. for Amtech Resources Raymond J. McNamee, 949-706-0141
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Copyright (C) 2004 Business Wire. All rights reserved
posted
It is very tough to fill. GLTA and think about the absolute potential with China developing like America was back in the late 1800's
Posts: 747 | From: NYC | Registered: Aug 2003
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posted
All I know is that at these levels with a huge merger like this there is plenty of room for the pps to grow. Very low float, I recommend this one with full confidence, but the decision is up to you. It is gaining bid support as we speak.
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I've very surprised this has not moved up in price yet.....of the 140K shares traded only 5000 were sold at .07 the rest were buys at .10. Yesterday we flew on just 200K traded
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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posted
yup, NITE will wake up and when he does next stop .15. I would say 200k volume today will get it to .15. 1 mil volume .3 but that will be tough to do. Plus people may have orders in already that are not filling because it takes a while.
posted
I did see a trade for 200 shares. Which I think means "I need shares and don't bring the price down to get". Maybe NITE is being idle till more mm's come in and more shares can go around. Very good day none the less
posted
yep considering the gains from yesterday and lack of profit taking we are sitting pretty at the moment.
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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posted
cool man was that in 2 5k blocks? There was 2 odd trades after that 1 for 673 shares and another for 146 shares. I just feel that this is a ticking time bomb. GLTA
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I agree this could explode soon.....I feel very confident in holding my shares after seeing that there are no sellers.
Posts: 2049 | From: Jax,FL,USA | Registered: Nov 2003
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I think we should see a gap up in the morning. 90-94% of volume went through at the ask. Zero retrace and more attention. Tomorrow should be very interesting.
bhodi
[This message has been edited by Bhodisatva19 (edited June 30, 2004).]
posted
good time to buy in. I averaged down and purchased some shares at .03. I talked to Ray at the phone number listed in the PR and he said that the outstanding share count is 43 million as well as letters are being sent out to shareholders next week and that shortly after that a PR will be released with details of the merger. He also said that it will be good for all shareholders.
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We should see a nice pop once the merger details are released. I originally bought shares at .10 then .05 and the majority today at .03. I know a lot of shares were bought at the .10 level and maybe some of those people were sucked into panic selling today.
Level 2 looks sweet but NITE is controlling this at the moment. He is alone on the bid and ask at .03/.05. There are 5 other mm's on the bid at .02
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I wonder if i should sell my CMKX shares and get in on this baby? Should I or shouldn't I, should I or shouldn't I. Hmmm, we'll see what tuesday brings.
Posts: 65 | From: Jacksonville, Fl | Registered: Apr 2004
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posted
Thanks for the info on this one. I banked it!! YEEEEESsssss! I am still going to watch it..... CD
Posts: 240 | From: Buda, Texas, USA | Registered: May 2004
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