I agree that it is at least encouraging to see the efforts of a turnaround attempt. Most impressive though is their balance sheet for a company with an $11 million market cap. There is so much equity and potential with TRIT. I admire that they have been an honest company when so many comapanies in China have not been. It keeps me in the game for now.
How do you know something big is up? Could it not be that they are just late? As an LONG on the stock , I am concerned that there was no reason given. If it was a big announcement they should of stated that they filed for an extension due to news pending.
With ABX down below the new issue price offer , how will management be able to sell 3 billion worth of the stock? Forget about the over altotment option !!!! Perhaps they already had buyers lined up? If anybody has any knowledge or ideas I would love to hear them.
We plan to sell our real property in Baoding, along with all construction including the costs of construction and operation expended since acquisition for approximately $18 million. We acquired this property on November 26, 2010. The sale is expected to close before the end of 2013 and we expect to break even on the sale. We expect to use these funds to support our operating cash flow and to repay the corporate bond from financing cash flow.