woops ....couldn't find a gfx board started another...but there is alot more to this stock than the y2kit...here is some great dd from 426figures over at the r.b. board...
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Here's the notes that I took while talking with James Tong...I would encourage anyone interested to give him a call, I learned quite a bit from talking with him.
For the last six years, Mr Tong has been traveling back and forth from China and Vancouver BC involving mostly mining and material equipment business'. China, he told me, is a country with 1.2 billion persons and there are not enough telephone lines, and wireless provides the best means by which to connect the people of China with telecommunications. Over the last years, Tong has been quietly putting together a plan of action in order to capitalize on this market. He has extensive experience and contacts throughout China which he's utilyzing.
He gave me alot of information in regards to his contacts, and the proceedings of involvement. For the most part, it reminded me of the first time I talked with GTCI.....GFX is has a very big telecommunication vision and it's difficult to quickly assimilate the big picture, so in order to post the information accurately, Im going to do it in waves, going for the big picture, and then filling in the details.
GFX recently signed contracts with Waverider and NORCEL which are the first steps in the creation of a wireless hub within China. With the first units, GFX will be setting up a pivate network that will be used by gov't and business officials. At the same time, GFX will be setting up the infrastructure for a public market. Later this year, Waverider will have its "last mile solution," a wireless plug-in for computers and lap-tops ready for China's market. By that time GFX will have established their own network for the public alongside the one for the private market.
The infrastructure is being financed in part by the Chinese gov't financing of gov't and private industries. At this point, any ministry, or business, can approach the gov't and obtain financing for upgrading their comunication network, and securing GFX's wireless telecounication connectivity. GFX is building the infrastructure with NORCEL:
""NORCEL is a Sino-Canadian Joint Venture company fully registered in China with nationally approved licenses to develop, manufacture and market wireless communications equipment and other related products. The company has also received licenses and specific frequencies for wireless data communications as it relates to establishing a wireless Internet hub for China. NORCEL is a subsidiary of Nanjing Orient Electric. Founded in 1946, with its head office in Nanjing, it specializes in the manufacture and operation of wireless communication systems.""
A "wireless internet hub for China"....that sounds interesting, so I followed up on what that meant. In China, the ISP's are very slow, with currently less than 1% of the population on-line, and are regulated with gov't charges and prices. WFX/NORCEL, in creating a wireless Internet hub will be 1) contracting out their services to local ISP's so that their users can get on-line faster; 2) setting up their own private network for a GFX wireless ISP. This is the first development of this kind in China on a wider scale, and their is currently no competition. Tong mentioned that their is currently a Microwave privately operating, and something about CDMA, but neither of these are attempting the public market penetration that GFX is creating. The Ministry of Information is fully behind the GFX/NORCEL infrastructure development and helping to set up the capacity.
I asked how the project was being financed. They have mining revenues, the actual costs incurred are not very high, and the cost of entry has already been secured. They will in stages, down the road, further finance their operation, but will keep the dilution to a minimum. Tong owns 10-12% of the outstanding shares, and that is his Golden Fortune. the current oustanding shares are 8 million. Of that, the company owns 2.1 million, and 3.5 million are secured out of the market in friendly hands, so the float is about 2.5 million-- many of that in American hands since the companies early mining days. I asked him what he envisioned in the future as far as the listing. He was very excited about the prospects of getting on the NASDAQ at some point, mentioning the time period of three months from now within which they would announce their intentions for a NASDAQ listing, "once we get all our ducks in a row." They have already been contacted by two US brokerage firms related to this matter.
GFX is also selling YK2 products, and this will further the financing of the venture. In addition, they will be setting up production facilities in China for wireless communication devices. Mr Tong is very interested in the investment community. He was excited to hear that their are "threads" of message boards devoted to GFX. They will include access to these threads on their web-site. I would encourage anyone who is interested to call him. In addition, their web-site is packed with informative China internet and telecommunication information.
This is a long hold. I'm not expecting it to rocket as yet. It is a bit like XNET IOT and GTCI say back in January. Being that it is on the ASE, most Americans will find it prohibitive to invest in GFX. I trade by Ameritrade, and was able to buy the stock by calling up the company. I am under the impression that this service is offered by most trading services. At this price it is a timely investment. |
