This too shall pass. While many of you were crying gnashing your teeth, and/or selling the stock, I was buying. I was able to get many thousands of shares around $3.30/average.
Personally, I see the majority of analysts still on the new management bandwagon....and the drumbeat should get even louder after the Investor Day. I believe we can reasonably expect the stock PPS to be conservatively in the mid $4 range by end of next week. Good Luck to all who held and/or bought the stock. This phoenix shall rise from the ashes LOL.
Sentiment: Strong Buy
As someone stated recently on this board, there is a proposal to create the open trade agreement with China in the works. This will open the door for more US companies to sell products in China, but the reverse is true as well. Many Chinese firms will have more access to sell products in the USA. If China Sun Group wants to sell batteries here in the states, they will most likely have to consider updating the financials of their now defunct Delaware based firm. This will dramatically increase their credibility. It makes sense for them to update their financials and allow for cross checks by a large US based accounting firm. If this happens, the stock will go over $1-2/share in a heart beat.
The only really important thing would be to have CSGH get current with their financials, and perhaps allow for cross checks by a large US based accounting firm like an Ernst and Young. If they did decide to go that route, the stock could go back over $1/share ++ in a hurry.
Barring that, this rally may be short lived.
ibn8n.....CSGH will have to get current with their financials (SEC mandated reports) however to be able to build any lasting credibility with those who would buy the stock over the OTC exchange. Do you think they will follow ABAT's lead in this regard?
Everything is state owned in China.. Of course CSGH is state owned. They have allowed trading of their securities in the US however...especially in cases where they have had the opportunity to do business in the USA.
It could be that this company is finally seeing the advantage of allowing for cross checks of company financials and an opportunity to get current as far as the SEC is concerned.
I am sorry....the last 10Q was actually released in 2012. So, it went defunct right after this last release, because they did not keep current with their financials. Below is a link.
The company is currently doing business in China...is real and its technology is real. The Delaware corporation is defunct because they have not kept standard timely financial information and have allowed the company and stock to languish. I could never figure out why they let this happen ...except for the SEC demands for Chinese companies to allow for US cross checks of accounting methods and numbers. The CEO decided back in 2008-2009 to let the company lapse and become defunct as a protest against the SEC demand. Perhaps the recent move up in stock price is a prelude to the CEO's decision to make amends in this regard. It really makes no sense NOT to have US investors and US money in this company.....especially if there is a chance of expanding the company's product presence to the West.
It is typical for companies to do "investor days" to help institutions understand more about the overall company business strategy to grow revenues and profits. In the case of Evine Live, it is also to introduce (show-off) the newer management team to key buying institutions. This will hopefully be another catalyst to PPS growth.
Just because the company has the shelf registration approved, it is far from certain that they will move on it anytime soon. It is clear that you have almost consistently taken a glass half-empty attitude toward this company. I thought you said that you sold your shares quite some time ago.