SHA (Amex) â Shanghai Century Acquisitions ia Special Purpose Acquisition Corporation (SPAC) and has currently negotiated the purchase of a Chinese pharmaceutical company Sichuan Kelun Pharmaceutical, provisionally pending approval from the Chinese Competition and Fair Trade Authority which is an ongoing process. Kelun is a leading corporation in manufacturing and distribution of IV solutions in China. They operate 13 manufacturing facilities in China along with 53 sales offices and the total number of employees is approximately 6.800. Kelun produces about 90 different kinds of IV solutions and their total production capacity is approximately 1, 4 billion doses a year. The corporation also manufactures hypodermic medication and over-the-counter. http://www.kelun.com/en/about.htm http://www.kelun.com/en/news/news_detail.asp?id=97 http://www.kelun.com/en/news/news_detail.asp?id=99 Atorka has just acquired 21% stake in SHA. The buys took place over the past weeks and were done on the open market (with NO discounts). http://www.atorka.is/desktopdefault.aspx/tabid-179/125_read-471/ Atorka is a investment company based out of Iceland, and itâs listed on the OMX Nordic Exchange in Iceland and is included in the ICEX-15 index. http://www.atorka.is/desktopdefault.aspx/tabid-2//32_read-59/ Atorkaâs own stock performance has been very impressive. It is up more than 76% for the year so far: http://www.atorka.is/desktopdefault.aspx/tabid-28/ Here is the latest filing (made on October 12), showing their recent buys of SHA on the open market here in the United State and the corresponding prices (see Item #5): http://secfilings.nasdaq.com/filing...RP&FormType=SC+13D/A&RcvdDate=10/12/2007&pdf= One can see from there that Atorka now owns 3,803,970 shares of SHA (look at line #7), which represents 21.74% (line #13) of all outstanding shares of SHA. SHA has a total stock float of 17.5 million shares. You take out the 3.8 million shares just bought by Atorka, other institutions own 35% (which is 6.1 million), and the insiders own 3.1 million shares. http://moneycentral.msn.com/ownership?Symbol=SHA http://finance.yahoo.com/q/ir?s=SHA You add all of the above and you get 13 million shares out of 17.5 million are not on the market. This means that SHA trading float is about 4.5 million shares. The chart on SHA looks very bullish on all technical readings. Volume is increasing and it has broken the âdouble-topâ 8.60 resistance: http://finance.yahoo.com/q/bc?s=SHA&t=6m&l=on&z=m&q=l&c= With the recent demand for Chinese stocks, there is a good possibility that SHA is about to get more recognition. The fact that it has a tiny trading float, 20%+ of the company has been bought on the open market and it is listed on a major US exchange will definitely get investorâs attention.
Way to go wixen2000! I worked out exactly the same logic. May I recommend the warrants, which in addition to all the factor mentioned in your posts, are trading at a discount to intrinsic value. See, http://finance.yahoo.com/q?s=sha-wt
wixen2000- I forgot to congratulate another great mind . Having said that, you omit the outstanding warrants in your calculations. They are in the money, which means that everything has to be calculated on a fully diluted basis. Looked at that way, Atorka owns 10% (though they own warrants too). It also means that the effective float is considerably larger than 4M shares. David H.
Yes. Those warrnts are looking good also, but I preffer the common for now. More liquidity in those. In either case, SHA is a gem that has yet to be "certified".
Volume has picked up now that Atorka started buying again. I'm curious to see in the coming days whether all the buying was them, or whether there are other large buyers. David H.
Oct 15, 2007 (M2 PRESSWIRE via COMTEX) -- Reported by InsiderCow.com at2007-10-12 11:46:094 ET Multiple Insiders of SHANGHAI CENTURY ACQ (SHA) bought 213,200 shares of SHA from the open market on 2007-10-12. The stock was up 1.14% after the InsiderCow.com report. Trade amount: 213,200 Shares Trade type: Open Market Buy Price Range: $8.30
Folks SHA has never engaged in any business or had any revenue. The buyer of shares Atorka has an Interim statement of cash flow January 1 to June 30, 2007 2007 2006 1.1 - 30.6 1.1 - 30.6 Cash flows (to) operating activities ......................................................................................... (2.044.696) (222.573) Cash flows (to) from investments activities ............................................................................. (7.426.494) 696.796 Cash flows from financing activities ........................................................................................ 5.778.824 1.735.139 (Decrase) increase of cash (3.692.366) 2.209.362 Cash at beginning of the year ................................................................................................. 4.721.197 878.991 Cash at end of period 1.028.831 3.088.353 >> Losing $2 mil on operations and $7 mil on investments and have very little left in the bank! I would say this leading up to one of those reverse mergers into a shell company and that does not mean it won't work... but one does not normaly but 213,000 shares of a copmpany that does not do anything..... ~ stoney
lol that and the guys who are here to pump it have 4 posts. hrmm two very new registered names with no posts except in this thread telling each other how great the stock is. you could of fooled me. this isn't yahoo finance, people are smarter on this board then to fall for that shit
Atta Boy Chsbla! Keep It real. Anytime you see that many references and links you know it's BS! ~ stoney