Non-Tech
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China Continental Inc. (CHCL on Bulletin Board)
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| An SI Board Since January 2004 |
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CHCL |
| Emcee:
MarcG
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Type:
Unmoderated
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The Asian sector and the reported financials are what first attracted me to carry on some due diligence on this penny issue. I would suggest the same for any prospective speculators. Try Edgar.com or FreeEdgar.com for CHCL's SEC filings.
Recently (its latest quarterly 10Q), an "E" was added to the issue's symbol (CHCLE) due to a filing delay, but this was rectified upon the required filing being executed. I have read that the company's current crop business is seasonal, and that a weighting of financial results occurs in this, the fourth quarter. We shall see. My interest is more in the prospects of putting the approximately $20,000,000 cash to work in the developing Chinese economy. It appears the company has little, if any, debt service. Information is limited, so some monitoring of the technicals may also be warranted. Average daily volume is running between 1,000,000 and 2,000,000 shares daily due to some spike volume days. This past week volume signals are very positive. The stockprice trend and price moving averages look interesting too. I believe a $0.07 print would constitute a new 52 week high. Historically the stock traded at $2.00. There are approximately 280,000,000 shares outstanding. Other message boards' sentiment may be an interesting contrarian's indication. Market maker participation is deep, and the Bulletin Board listing is obviously advantageous in terms of liquidity compared to the pinksheets.
As far as my own track record on this type of issue, one can refer to SI's HABE board.
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