[16017] in Public-Access_Computer_Systems_Forum
Major news release for this Co. Watch tomorrow
daemon@ATHENA.MIT.EDU (Erick Holden)
Tue Aug 16 13:11:10 2005
Message-ID: <01e501c5a285$77f174b0$6c4f8daa@ibbadoi>
From: "Erick Holden" <1my@alltel.net>
To: <pacs@mit.edu>
Date: Tue, 16 Aug 2005 12:11:38 -0600
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Inside Breaking News For Investors Released..
CHINA WORLD TRADE CORP IS ON THE RUN AGAIN.
Current Price : 2.28
CWTD***CWTD***CWTD***CWTD
Ready to Run
Is This One Ready to Explode Higher Move?
How Will it React To This News Being Released?
Good Luck and Successful Trading..
CWTD News is out, stock is going to rock, Company has already
facilitated the m0ney it need's to continue it's rapid growth
CURRENT PRICE 2.28
Projection 5 to 7 Days 4.50 - 5.00
Projection 8 to 12 Days 6.00 - 8.00
China World Trade Corporation Acquires Hotel Booking And Group Tour Travel Agency
Monday August, 8th 8:42 am ET
Company's Strategic Acquisition Further Positions Itself as a Leading Business Services Company in China
GUANGZHOU, China, Aug./Xinhua-PRNewswire/ -- China World Trade Corporation (OTC Bulletin Board: CWTD - News; ''CWTC'') announced today that its subsidiary Guangdong New Generation Commercial Management Co., Ltd (''New Generation''), entered into an agreement to acquire Guangdong Hao Shi Guang Travel Agency Limited (''Hao Shi Guang'') from Guangdong Rising Hotel Group Co., Ltd (''Guangdong Rising Group''). Under the agreement, New Generation will obtain a majority stake of up to 70% of Hao Shi Guang through a capital injection. The cooperation will also include a joint development of an interactive hotel booking system connecting Guangdong Rising Group hotel chains and integrating them into New Generation's current travel booking enterprise system which will further enhance its travel offerings to New Generation's customers.
''We are excited and confident that our cooperation with CWTC's travel subsidiary, New Generation will lead to future success in the continued development of our travel business in Southern China,'' said Mr. Bangfu He, President of Guangdong Rising Group, ''The Guangdong Rising Group runs a wide range of travel related services including hotel bookings, group travel services and ground transportation arrangements. This strategic acquisition will allow us to capture more of Southern China's travel market share by offering a broader range of services to our customers.''
!!!!!!!!!!!!!!We cant wait to see where this one goes.!!!!!!!!!!!!!!!!!!!!!!!!!
As of March 31, 2004, cash and cash equivalents totaled $1,844,750, an increase of $20,482 over the last reporting period as of December 31, 2004. This increase in cash position was the result of a combination of net cash provided by financing activities in the amount of approximately $611,000, offsetting by net cash used in operating activities of approximately $432,000 and net cash used in investing activities of approximately $158,000. The increase in net cash provided by financing activities was mainly due to an advance of $622,000 from a shareholder. The net cash used in investing activities was contributed by the acquisition of additional equipment by New Generation Group in the total amount of $182,000. Net cash used in operating activities could be explained by the change in net working capital. This change in net working capital was due to the increase in trade and other receivables of approximately $262,000, and the increase in rental and other deposits of $197,000!
. The increase in trade and other receivables was primarily due to the increase in trade receivables resulting from the increase in operating revenues of our business traveling service division; and the increase in rental and other deposits was mainly due to the increase in security deposit for IATA required deposit for air-ticketing agents.
Income taxes were $47,000 for the year end December 31, 2004, as compared to none for the same corresponding period in year 2003. The increase of income taxes was the result of consolidating the operation of New Generation since the acquisition of its business in August 2004.
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