EVERYONE should reread the SEC 8K filing on June 17, 2015. It explains everything about their plans as of then and was VERY positive. The new PR should give guidance to compare to this 8K to assess where the company is NOW. I am optimistic we are moving on the right track and the stock is WAY oversold and worth at least $1.50 or more shortly with positive news. Only concern remains paying back debt which is owed and renegotiating it under more favorable terms. KEEP THE FAITH and BUY!
33,000 bid at $0.45 It is like a coiled spring ready to explode above $0.60 with a reasonable earnings report and positive PR. Either will be on Friday or Monday I believe and $1.00 Plus soon thereafter Live and learn!
It appears that the bottom is in place and there will be more bids then asks in the next few days. Watch the price action for confirmation. If NO significant negative news is in the next PR and earnings by next week then the price should easily get back to $0.75 plus quickly. This is a potential $5 stock for sure if they get their underground facility running in less than 9 months and defer most of their debt payments. BUY BUY BUY!
From all of the stock owners on this message board it appears that virtually NOONE has sold any shares over the past 6 months since the PR news has been positive. So is it just short selling? Who can be selling this stock below a dollar unless they know something we don't. They are poised to earn between $0.10 and $0.20 per quarter going forward and MUCH more if they get the underground facility working anywhere near projected levels next year. Unless they cannot pay off their current debt coming due I cannot think of any reason for the constant decline. Any thoughts out there?
Usually on a Monday or Friday. My guess is Friday morning before market opens. Then we will know if something seriously is wrong with customers, production, or debt obligation. It might be only market manipulation since the volume has been low until the last few days. If anything was VERY wrong I would expect MUCH higher volume. Keep the faith !
Can anyone with accounting/finance knowledge explain what options CETC has if they cannot meet their next payment on their debt due this week. Will they have time to do a stock offering, refinance thru some other means, or?? This appears to be the only logical event for the stock to plunge so much. This assumes that both above ground facilities are still operating near capacity and they will show a profit of at least $0.10 this quarter. HELP !!!!
The company should be able to earn $0.12-$0.14 for the current quarter and at least be profitable going forward at full production at their 2 above ground facilities even if Syngas prices come down somewhat. Worst case scenario seems to be $0.25 for the next year and best case over $0.60 so how can the stock be below $1.25. I just do not get it but will probably if they cannot repay debt due soon or?? Keep the faith
If they have successfully deferred the loan payment on favorable terms and earn $0.12-$0.15 for the quarter and maintain customers and higher profit margins the stock will be $1.50 in a VERY short time.
If they will say they are having problems meeting the loan payments or have lost a customer or have earned less than $0.10 for the quarter and say profit margins are decreasing we will know why the stock is only $0.50.
MY MONEY IS ON THE FIRST SCENARIO. Here's hoping !
Preliminary audit for current quarter said PLUS 27% in results or about $0.12-$0.15 for the quarter should hold true with firm pricing for Syngas and increased profit margins. This should send the stock back to $1.00 at least Buy Buy Buy
They have successfully been producing Syngas in their 2 above ground facilities at close to the full production mode and have a tentative lease pending with Zengzhou Energy to lease additional capacity and recently stated the coming quarter financials would be better than the previous quarter and with even higher profit margins. Overall seems to me to be an 8 or more out of 10 and we will soon find out if there is some hidden reason behind the endless fall in the stock price on relatively low volume. If volume was MUCH higher I would be worried. We will know before this Thursday so lets keep the faith.
This was from a prior press release:
Chinese Local Government to Supply SinoCoking Underground Syngas Project With Extensive Gas Pipeline Distribution Network
PINGDINGSHAN, China, Sept. 16, 2014 (GLOBE NEWSWIRE) -- SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq:SCOK), a vertically-integrated coal and coke processor, today said that the local government of Pingdingshan has agreed to provide the company with an extensive gas pipeline distribution network and gas storage system as well as a land allotment of over 7.5 square miles of high-quality coal, all of which will support the development and continuing operations of SCOK's recently announced $300 million underground mine coal-to-syngas conversion project.
Additionally, the government of Pingdingshan may issue "significant" financial grants to SinoCoking after assessing the project's initial performance.
The gas pipeline network and storage system will connect each of SinoCoking's four mines in Henan Province with most of its major population and industrial centers. The 7.5 square miles of high-quality coal will be used by SinoCoking to refine its underground coal-to-syngas technology before commencing sales of syngas in February of next year.
The gas will be sold to local power, chemical and transportation companies as well as households requiring electricity in Henan Province, said the company.
Today's news follows SinoCoking's announcement on September 9 that it had signed an exclusive agreement with the Institute of Process Engineering of the Chinese Academy of Sciences and the North China Institute of Science and Technology to convert the 21 million tons of coal at four SinoCoking mines into syngas, a clean burning fuel, while sequestering unwanted carbon dioxide and other greenhouse gases underground.
Mr. Wang Xichang, the Pingdingshan Government District Director overseeing the underground syngas project, said, "We are proud to pro
The following PR was issued last year. If it still holds true then the market's perception of a quite limited pipeline network for CETC will be significantly expanded. This should take away some of the fear concerning the company. The upcoming PR should have good financial results and positive forward looking statements as well (we hope). Keep the faith and we will know shortly why the stock has fallen so drastically on basically mostly good news.
Here it is: PINGDINGSHAN, China, Sep 16, 2014 (GLOBE NEWSWIRE via COMTEX) --
SinoCoking Coal and Coke Chemical Industries, Inc. SCOK a vertically-integrated coal and coke processor, today said that the local government of Pingdingshan has agreed to provide the company with an extensive gas pipeline distribution network and gas storage system as well as a land allotment of over 7.5 square miles of high-quality coal, all of which will support the development and continuing operations of SCOK's recently announced $300 million underground mine coal-to-syngas conversion project.
The new IR firm responded to a few questions I had sent them about their prospects going forward.
We will no ALL (I hope) in the PR which should accompany the Annual Report filing in late September.
Sounds positive to me, but we will have to see the details. here it is:
Thanks for your email. This is Tina Xiao of Weitian Group. We are the IR firm recently engaged with Hongli.
The company is doing well and is going through the FY-end auditing process. We will publicly release more information about the company’s production and update the customer’s information in the annual report which is scheduled to file in this September.
The stock is WAY oversold and will likely rebound to over $1 to maybe $1.50 once the report is released.
BUY BUY BUY !
Speak to Jimmy Caplan at 512-329-9505 of the prior IR firm. There is a new IR firm which started in early August. The website will be updated shortly to that effect.
He said they have until end of September to file. Their quarter ended June 30 and they have 90 days from then to file.
He felt that the company is completely straightforward with their plans and is trying their best to succeed according to prior announced plans.
I just spoke to their prior investor relations firm who confirmed that they have until end of September to file quarterly report. Maybe when people realize this and that they are likely to report another profit of $0.10 to $0.14 the selling will stop ! This stock was $2.70 and has had virtually nothing but good news since (on balance). It is WAY oversold and should rebound above $2.00 once figures are released.
Prior PR said preliminary results were for a 27% increase in net income for the upcoming quarter. They are likely to earn $0.50 or more over the next 12 months and if and when the underground facility and lease option kicks in likely MUCH more.
My fair estimate for the stock price is $3.00 or more by year end. We will see. Keep the faith and spread the word.
Even though China is out of favor and having its own problems cam ANYONE explain why the price of SCOK is below $2.00? Under virtually ANY scenario it should earn at least $0.50 plus in the next 12 months just from the 2 above ground facilities. Adding 2 or more customers, getting some results even after 6 months from the underground facility, and with China's admitted help as to lower taxes and financial assistance the market usually looks ahead. I see $0.60 to $1.00 EPS in 2016 minimum. To me the fair a=value of the stock is close to $3.00 at least. Buy shares when they are out of favor and hold unless actual NEWS is discouraging. If it turns positive the stock will be over $5.00 for sure. Sound risk/reward. What idiot is selling now under $1.25??