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China Crescent Enterprises, Inc. Message Board

  • stevobama stevobama Jul 22, 2010 6:07 PM Flag

    Interesting post on the NWMT board

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    • chitowndale@ameritech.net chitowndale Jul 28, 2010 1:41 PM Flag

      SteveO,
      You keep harping on the At Home auditor that does CCTR's books.

      Funny, while my former employer was cooking their books for over $3 BILLION in fake sales, do you know who THEIR auditor was?

      KPMG LLD, with over 126,000 employees world wide operating in 140 countries.

      That didn't seem to help too much in catching the company they were auditing who was cooking their books for 23 YEAR before the Federal Government finally caught them.

      In all of those years, NOT ONE KPMG employee ever raised a single question about fake sales posted to my company's books.

      So you can complain all you want about Auditors.

      An ex-friend of mine is an auditor and he now owns a HUGE spread worth about $10 million in a town West of me about 50 miles. He paid for it with the NINE MILLION he defrauded from his client companies. He spent ONE SINGLE NIGHT in jail for that. He paid back the money, after using it to enrich himself, and got a couple of years of probation. He is STILL an auditor and I am sure he is still stealing from his clients. He is just a bit more careful about how he does it and covers his tracks better.

      So don't lecture ME about Auditors. They are almost as big crooks as Politicians whether they are a one person operations or a company with 126,000 employees.

      Just ask the folks who invested in ENRON, GM, Goldman, etc about how they look upon the auditors of those companies.

    • Why everything that has "China" in their name gets their financing done, but China Crescent not?. BS-argument of PV. I guess he didn't pitch at Maxim, Rodman & Renshaw, Murray or other investment boutiques. Because he is afraid his scam is discovered.

    • Bet the farm sucka :o)
      Anyone who believes PV is just that; I was and it cost me $5,000.00 over 5 yrs. yep I'm a slow study.:o(

    • <<I don't agree with this statement.
      Most otc & pinksheet companies have to sell more stock to grow the business, because they can't get the financing more established companies get.>>

      Whether you agree or not, has nothing with it, because Phil Verges has said himself that CCTR has difficulty getting financing because its listed on the otc exchange, and thats why he's in the process of trying to get listed on one the top three trading boards(NYSE, Amex, Nasdaq).

    • I don't agree with this statement.

      Most otc & pinksheet companies have to sell more stock to grow the business, because they can't get the financing more established companies get.

      If you have an interesting business you can always do a PIPE or Equity Standby Agreement, but CCTR choose for the wrong type of financing.

    • <<I will just say this for everyone that thinks this is real.>>

      CCTR is real, else it would not have lasted this long, and no amount of your bashing will bring it down.

      <<Look at the "reported" revenue.>>

      Yeah, and it looks great; 101% revenue growth, and 487% earnings growth.

      <<Look at their current auditor.>>

      I'll take their auditor over Dell's, Enrons, Tyco's, & WorldCom.

      <<Figure out their only clients are pollard-kelly clients.>>

      Thats bs! Because CCTR had $15M in 1st quarter revenues, with a projected $100m for the year.

      <<Do the DD on that. Look at the month to month lease in China at $527.>>

      More bs!

      <<Look at the amount of dilution per quarter (Hundreds of millions).>>

      Most otc & pinksheet companies have to sell more stock to grow the business, because they can't get the financing more established companies get.

      <<Look at the stock drop of all PV's shells. They are all down at least 99.9%. That is amazing results.>>

      Nobody said it would be easy, and most entrepeneurs have a difficult time getting businesses up and running, in fact most fail and drop out, but Phil hasen't given up and thats why he has a chance of making it big time.

    • I will just say this for everyone that thinks this is real. Just drive by the company. Look at the "reported" revenue. Look at their current auditor. Figure out their only clients are pollard-kelly clients. Do the DD on that. Look at the month to month lease in China at $527. Look at the amount of dilution per quarter (Hundreds of millions). Look at the stock drop of all PV's shells. They are all down at least 99.9%. That is amazing results...:)

    • chitowndale@ameritech.net chitowndale Jul 27, 2010 2:10 PM Flag

      Just,
      Can't disagree with you about PV.
      But as I say, you don't have to like someone or their company to make money from their company.
      I do have ethical limits though, not investing in known destroyers of the environment, exploitation of third world persons or children, etc.

      But as to PV "cheating people out of their money", that is a no go for me. We are (mostly) grown ups here and it is our responsibility to see that we don't get cheated.
      As I have said, my former employer's 2nd CEO who I have personally met and spoken to a number of times is now a Fed prisoner for 12 years & must almost $700 mil restitution for being left holding the bag by the founder.
      Now that's a company that cooked the books for $3+ BILLION that the Feds know about & more they don't since they have cooked those books since 1981 when they went public.

      Yet their stock never dropped lower than $9.34/shr when the scandal broke.

      When I started,
      their PPS was .24. 5 yrs later it was $2.12/shr. In my 6th year it was $4.36 BUT after a 2-1 split so the .24 shares were worth $8.72. My 9th year there it hit $4.70/shr BUT after a 2nd
      2-1 split so .24/shr had grown to $18.80. When I left them it had grown to $11.78/shr ( 1 shr @.24 was then worth $47.12 + dividends). To this day, the one share hanging on my wall to commemorate their 1st $1 billion sales still draws a check for .04 every 3 mo dividend. I like depositing the checks to frustrate Chase Bank since it has to cost them 20X that to process it <G>.
      So the 12 checks I received would have been worth 18X what the orig share cost. I didn't keep the split shrs, only the one on my wall so I received .48, 2X the original cost of the share.

      Today a shr costs $19.82 but that's after 2 2-1 & 2 3-2 splits.
      So 100 shares bought the year I started $24 & despite all the scandal w/the CEO being imprisoned for 12 years, those 100 shares today would be 900 shares currently worth $17,838 w/o dividends.
      They've paid .04/shr dividends per Q since 09/2007 making 12 which would be $432 on the 900 shrs the orig 100 grew to.

      The net worth of those 100 shrs for $24 are currently $18,270/900 shrs.
      I those days, brokers frowned on buying 100 shrs. The usual purchase was Min 1,000 shrs. Assuming buying 1,000 shares in 1981 @$240, they'd have grown to $182,700 today but that wasn't their highest value.

      If you had sold those shares at the company's highest stock price of 69.94 in 12/1999 after owning them for 19 years, you'd have missed divs of $4,320 :-( BUT your shrs would have sold in 12/99 for $629,460, a 2,623 BAGGER.

      Fortunately I sold all but that 1 shr hanging on the wall in 1999 to pay for building our new house so I got out at the peak.

      Of course, PV's companies will never have the success that they had since though he's shrewd, he isn't too bright.

      He's had ample opportunities to make a success of his companies but has always chosen to screw his stock holders instead.
      Again, that doesn't mean you can't make money playing his stocks. Only you won't get fabulously rich like you could have with my former employer and other companies that play straighter.

      He's dug such a hole that his companies could never get out of them. They're only good for spot buying & selling as the stocks move up and down.

      You won't see 2-1 or 3-2 stock splits, only reverse 1-20 and 1-30 splits which help nobody but PV.

    • “I've forgotten more than you will ever know about computers.”

      I too have forgotten more about computers than I'll ever know again, so I have to agree with you. I began my computer experience on the Tandy (Radio Shack) TRS-80 with cassette tape drive and Basic as the programming language along with that big white square prompt on black TV screen in the early eighties. By 1989 I graduated to a Packard Bell with a blazing 12 mhz cpu speed, 40 mb hard drive, color vga and a mouse. The included 5.25 and the high density 3.5 floppy drive provided true flexibility, lol. The computer came complete with Dos 3.3 and QuickBasic programming language.

      In those days I could create programs from scratch for specific purposes including financial, games, stats, screensavers, batch files etc. Dos had its limitation (640k) but it provided a good learning environment. I miss the day when you could flip on a computer switch, sit down and it would be ready to go rather than having to wait through start up time that is required now.

      As for PV his plan uses investor’s resources with no obligation or interest in returning anything to them. During my years around stocks I have never seen anyone do what PV does with regards to Pr’s, dilution, company ownership, acquisitions etc. It’s clearly imo a money raising scheme aimed at transferring money away from investors.

    • "So have you ever owned 1m shares in any company? If not, this is your chance."

      You're a fu/cking retard.

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