To The Shareholders of China Crescent Enterprises, Inc.
NewMarket Technology, Inc. (the "Majority Shareholder") is the holder
of Series A Super Majority Voting Preferred Stock which allows Series A shares
to always vote equal to a majority of the common shares of the total issued and
outstanding stock of China Crescent Enterprises, Inc., a Nevada corporation (the
"Company"). The Majority Shareholder intends to adopt the following resolutions
by written consent in lieu of a meeting pursuant to the Nevada Revised Statutes.
1. To authorize a reverse split of the common stock issued and outstand
-ing on a one new share for ten old shares basis. Fractional shares will be
rounded up to the next whole share. (Requires an amendment to the Articles of
2. To authorize the officers and directors of the Company to amend the
Company's Articles of Incorporation to increase the number of authorized Common
Shares from two hundred million (200,000,000) to one billion (1,000,000,000).
If you're looking to make money you better invest somewhere else because the only one who will make money is Phil Verges the scumbag!
<<If you're looking to make money you better invest somewhere else because the only one who will make money is Phil Verges the scumbag!>>
jmss, you really are full of crap, because most companies that go public have tons of extra shares to use if needed, but most don't, and the truth is that CCTR has 20M shares outstanding.
So why are you here? Especially since you don't seem to be interested in making money, and it seems like you're only interested in bashing and trashing. It must be a personal agenda you have against PV, for why else would you be here?
Take your own advice, and leave, because nobody's listening to your angst filled nonsense.
<<Sorry current shareholders but, If you don't see what's going on here others will!>>
jmss, you're a condesending snob!
Of course we shareholders know whats going on, and we also know that others will eventually find out about CCTR, and start buying it up, like crazy. So our biggest dilemma is do we own enough shares to really reap the rewards, before this guy heads for the sky.
All companies are setup the same way umtil a majority of the common or preferred shares are no longer owned by the people who started the biz.
The majority shareholders, or preferred stock owners, can issue new shares at will.
Some are given to directors after they get elected, every year.
Others are used to pay debt.
Others are used to acquire additional assets to add to the company value.
However it is not legal to simply sell new shares on the open market without filing a shelf registration announcing such intent.
Def 14c Filed March 25 2009!
Shareholders should note that, after the reverse split, the number of our authorized shares will remain unchanged, while the number of issued and outstanding shares of our Company will be reduced by the factor of the reverse,
i.e. one for twenty-five shares. It is important to realize that the issuance of additional shares is in the discretion of the Board of Directors, in their best
business judgment, and our shareholders will have no right to vote on future issuances of shares except in the event of a merger under Nevada law. This means that, effectively, our shareholders will have no ability or capacity to prevent dilution by the issuance of substantial amounts of additional shares for consideration that could be considerably less than what our existing shareholders paid for their shares. In many events, control of our Company could effectively be changed by issuances of shares without shareholder approval.
Read the filing for you're self!
Phil can dilute whenever he wants without any approval or notice to common shareholders!'