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China Jiangsu Golden Horse Steel Ball, Inc. (Pink Sheets: CJGH ) (January 7th, 2008)a leading Chinese manufacturer and supplier of ball bearings, wishes to announce that it is seeking a European listing, specifically on the Frankfurt Stock Exchange. Management feels that this will be an important move in order to broaden the Company's shareholder base and international exposure, and it is part of Golden Horse's international strategy. Listing on the Frankfurt Stock Exchange will provide European investors with an easier access to Golden Horse's stock and will facilitate European investment.
"European investors have a strong interest for investing in both steel and manufacturing companies. Particularly Chinese companies with projects where there is leverage to rising commodity prices plus the blue-sky potential of an aggressive expansion program that can significantly increase revenues. This new listing provides the company with increased exposure to worldwide capital markets," says Qiang Ma, President of China Jiangsu Golden Horse Steel Ball, Inc.
The Frankfurt Stock Exchange is the world's third largest organized Exchange-trading market in terms of turnover and dealings in securities. It ranks third in the world behind NYSE and NASDAQ. It is owned and operated by Deutsche Borse, which also owns the European futures exchange Eurex and clearing company Clearstream. For more information on Frankfurt Stock Exchange please visit www.exchange.de.
Golden Horse along with its affiliates and controlled entities is one of the top five manufacturers of steel ball bearings in China. The Company produces over three billion ball bearings annually of various specifications along with its development of over 15 new products, such as stainless steel balls, aluminum balls, and ceramics balls. In addition, the Company continues to export its products to over twenty countries worldwide including the USA, Japan, Brazil, India, and Germany.
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EGPI Firecreek, Inc. (OTCBB: EFCR) (January 7th, 2008)and its wholly-owned subsidiary, Firecreek Petroleum, Inc. are pleased to announce that it has completed the sale of its Debentures for $2.1 million dollars to initiate the commencement of its oil and gas development plans for the first quarter 2008.
The financing will aid in the anticipated restructuring of the Company's operations, proposed acquisitions and corresponding work programs for new and existing oil and gas programs.
As part of EGPI's restructuring plan, the Company has approved a provision that will allow for the election of up to 5 new members to the Board of Directors. These individuals will consist of industry and finance professionals, and will give the Company an increased breadth of knowledge and credibility in the Oil and Gas industry.
Additionally, as part of the negotiating for its recently completed financing, the Company has successfully completed a wrap up and closure on all equity line sales through its prior financing arrangements. This wrap up is crucial in the Company's commitment to bring value to the shareholders by providing better terms in its current financing commitments and by restructuring any prior funding commitments so as to not suffer any potential dilutive effects, in the form of creating stock into the market by drawing from an equity line. The Company is confident that the closing of the equity line will now give the Company and its stock the potential to trade in parity with the Company's current events and future news releases.
Dennis Alexander, the Company's Chairman and CEO, stated, "We are extremely excited about the future outlook for EGPI/Firecreek. A tremendous effort has taken place in an effort to initiate our plans for Fiscal 2008 and the Company's long term future. We are now aggressively taking steps in an effort to build on the Company's domestic growth for oil and gas revenues and cash flow." Mr. Alexander also stated, "We also look forward to introducing the addition of our new Board members and working side by side with capable individuals who will bring knowledge, capacity and competent assistance in the vision, development and implementation of the Company's current and future business plans."
EGPI Firecreek, Inc. continues review for potential leases, interests and opportunities which are located throughout the U.S. and its surrounding regions. The Company is working on various financial opportunities for the funding of potential project acquisitions and the respective capital expenditure requirements for each.
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Location Based Technologies, Inc. (OTCBB: LBAS) (January 7th, 2008) announces that as of January 4th it has converted all of its investor debt ($5,242,000) into equity. This is a demonstration of investor confidence in the value and marketability of the PocketFinder family of products. The Company will be participating in Pepcom's Digital Experience on January 6, 2008, at Caesars Palace in Las Vegas for the premier consumer electronics media showcase. Location Based Technologies will demonstrate that it has built an intuitive and user-friendly interface that will offer great value and functionality to their real-time personal GPS locator product line. The PocketFinder and PocketFinder Pets are small, rugged devices that help parents or guardians stay connected to their young children, elderly parents, a disabled child, or pets -- from anywhere and at anytime. "Your World. Located."
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Black Dragon Resource Companies, Inc. (Pink Sheets: BDGR ) (January 4th, 2008) Mr. Joseph Lanza, President of Black Dragon, announced today that the Company intends to publish its nine months unaudited financials prior to the end of next week and expects that the results of that period will exceed the same period for 2006.
Mr. Lanza stated that one other condition of the proposed financing transaction was that the Company provide a current business Plan to its proposed Joint Venture Partner. Mr. Lanza stated that this was done and was accepted as satisfactory.
Mr. Lanza stated that an error was made in the Company's release about the Proposed Joint Venture, which could bring in over $100,000,000 to Black Dragon. The release inaccurately reported that Black Dragon's oil and gas reserves were valued at $2.7 billion dollars whereas, in fact, its Joint Venture Partner had accepted the oil and gas reserves as having a value of $12.7 billion, not a small difference Mr. Lanza noted! In all other respects the Company's release was correct and Mr. Lanza stated that the details of the Joint Venture Funding are still scheduled for completion for the Shareholders meeting on January 16, 2008.
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