CHINAENV has shot up more than 100% in just 2 months. I can't see any reason for it. Its latest financial results were terrible and the orderbook is terrible. I have exited with a nice profit at 26 cents!
I have been keeping this one on my watchlist and have seen it soar and -- now , it's fallen 4Cents to 31.
I am itching to buy! What do you think? Or should wait till it breaks 30 cents?
For one, the Company is a reverse merger. This does not signify anything on its own. However, historically reverse mergers have been especially susceptible to crossing the lines between truth and fiction.
The Company's Chinese language page is down. The English page is specifically intended for investors rather than customers. A valid business would need a Chinese language page.
The Company in 2013 reported a profit of 71 million RMB. Meanwhile, CFO for 2013 was negative 97 million RMB.
The Company has been recently raising a lot of money by issuing new shares. At the same time, the Company stated that it is finishing the construction of its new facilities using all internal funds. If that's the case, why issue additional shares?
The Company claims to produce units which remove pollutants from stacks at power plants and other facilities. However, a search of the facilities the Company has represented on its page reveals it was just pulled from the net.
The Company claims to have increased production 400% with the addition of a new production facility in August 2013. The facility is depicted as follows on the Company's website.
However, satellite images shows the following. Slightly misleading if you ask me.
I do not hold a position in the security nor do I plan to. Additional due diligence needs to follow to confirm my aforementioned concerns
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