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I like the fact that Microcars are ideal for places like Sri Lanka, Nepal and other surrounding small countries. Plus a market of currently of 200-300K is a good bottom floor opportunity.
posted
I'm in!!! This is gonna be a big one. I'm holding for a least a buck. I'm new at this doesnt everyone need to hold for it to go up?
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Not necessarily, but that certainly is a large factor. Penny stocks are very volatile and tend to jump around alot based on volume. You've probably heard the saying, "buy on anticipation, sell on news" or something similar to that. I've found this to be pretty true. Penny stocks tend to be driven by rumor which can make them very risky, but also very profitable. Good luck!
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Transmec-Axia Joint Venture to Introduce Electrically-Powered Micro Cars
Gopsons Lanka (Private) Limited Signs an Agreement with the BOI.... BOI Signs Agreement with Customized Information Systems (Pvt) Ltd.... Construction Work for the 43 Storey Condominium to Begin Shortly.... Transmec-Axia Joint Venture to Introduce Electrically-Powered Micro Cars ....
Transmec-Axia Joint Venture to Introduce Electrically-Powered Micro Cars Transmec Company – Sri Lanka’s only car-manufacturing company will enter into an agreement with Axia Group a US based company for a venture capital to develop electricity-driven motor vehicles for the local market.
Speaking about the new venture, Dr. Lawrence Perera – Chairman/CEO Transmec stated that under this agreement, Transmec will be planning to develop an electrically powered version of their Micro brand motor vehicles. At present the company has two factories located at Polgahawela and Seeduwa.
Dr. Perera added that the Axia Group would be investing US$ 3 million as a venture capital company. Furthermore they would also be transferring new technology and technical know-how to develop the electricity version of the Micro cars.
Transmec currently manufactures 60 cars each month. Under the joint venture with Axia Group, the company expects to expand its output to 200 vehicles per month. The CEO highlighted that “The company had humble beginnings and took one and a half years to develop the first Micro car to the market. Seylan Bank supported the company to make their idea a reality”. Transmec has designed several models of vehicles for the market starting from Rs. 660,000 per unit.
He further pointed out that organizations such as Start and Improve Your Business Association in Sri Lanka (SIYB) are playing a key role in assisting new and innovative companies in the country, He added that SIYB’s Expand Your Business (EYB) strategic management package developed by the International Labour Organization (ILO) would be a strength for entrepreneurs.
EYB is a specialized agency of the United Nations system and is practical, modular based, interactive and flexible to meet the requirements of growth-oriented entrepreneurs.
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quote:Originally posted by stolibox: pos is right. but now that we're pissed and moaning it should be near bottom. adding in the 002's shouldn't be a bad thing
Nah, if it keeps dropping in the 002's, I'll load up huge and wait for Jeff to give us something....
Jeff, stop dealing with AXGJ and give CTXI some lovin!
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I had great expetations of this stock. But I now think Flannery of a crook and is the only person who really makes money with the 4 stocks he is CEO of! He controls his companys stock runs with the help of a few people. Then they sale and flip it until next time. They get nothings from Sri Lankan sales. Only new business start ups in other countries. And where he is looking in the previous press release, this we be small future volume! I wish I sold when this was at 0.006. It could have at least broker even!!!!
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MicroCars International, Subsidiary of Centrex Inc., Completes Sale of Two Vehicles to Sudan Wednesday December 13, 8:41 am ET
SAN DIEGO--(BUSINESS WIRE)--Centrex, Inc. (Pink Sheets:CTXI - News) today announced that its wholly owned subsidiary, MicroCars International, has completed the sale of two MicroCar MPV III MiniVans to a distributor in Sudan which is interested in representing the MicroCar line of vehicles in that country. These two vehicles were purchased for US $6,600.00 each in order for the distributor and the government of Sudan to evaluate the MicroCar MiniVan as a potential import vehicle to that country.
ADVERTISEMENT Established in 1995, MicroCars, Ltd. is the only automobile manufacturer in Sri Lanka, featuring a line that includes a sedan, a coupe, a minivan and a four wheel drive pickup truck. Created by Dr. Lawrence Perera, previously an executive engineer at Volkswagen in Wolfsburg Germany, MicroCars offers a cost effective system for assembling quality cars using local labor and available local materials.
Stated Jeffrey Flannery, CEO of Centrex, Inc., "The sale of these test vehicles is an important step in the evaluation process for establishing a relationship with the nation of Sudan. We are confident that after the company representing MicroCars in Sudan and the government has the opportunity to further test our products that we will be able to expand that relationship."
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of CTXI are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future CTXI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and CTXI has no specific intention to update these statements.
Seems CTXI still had $150K in noteholders left over from before he took over. He issued 75MM shares this week to take care of that. Nothing he could do legally about that. Had to do it. Late last week he modified the share structure at the OK SOS to 1.9B authorized (to take care of these notes, and potential future acquisitions) So Right now the structure is as follows.
1.9B authorized 325MM Outstanding
It seems a good deal of this selling started last week, days before he actually issued the 75MM shares to the noteholders, so it seems someome knew they were coming and started shorting like crazy, and have been throughout this dilution period. This mixed with tax-loss selling and general confusion as to why it kept dropping contributed to the ridiculous beating this stock has taken over the last 2 weeks.
It seems we've just about taken care of this 75MM share addition here in this last week, and that should be that. No more dilution on the horizon according to Jeff. He's as frustrated as most (well not ME! lol) that he had to do this, but it was just part of the condition of the shell he took over.
Anyway, He said that he has 2 more BIG PR's (the last one was just a minor one according to him) that he's holding onto. He was waiting for this selling pressure to play out so that the PRs had maximum effect. We should see one next week, then one more either the next week, or probably first week in January.
So as it sits this is the situation.
OS 325MM shares. 75MM dilution done, or about done, Good short postion built up here the last couple weeks, tax loss sellers about all out. - Selling pressure should be drying up pretty much after today.
Next week should see some massive buying as we get a substantive PR, Retail loading for January, and Shorts covering
****CURRENT MARKET CAP only $487,500 - ridiculous for a company working on closing that distribution deal with SUDAN, and these 2 bigger PRS on the way in the next week or two.*****
People loading Millions here are gonna be hugely happy in January.
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