RE: Get ready to get excited....what a gong show - alright, here goes:
fairchild bought/owns springbend investments whose primary asset/ subsidiary went bankrupt in china 2005 (a vitamin c plant which was also owned partially by the stone group -25%) this is lost money.
however, as i discovered on edgar in a report filed in 2001 -
springbend investment company limited is the beneficial owner of 2,020,587 shares in sina corp (listed on nasdaq SINA) which trades at $34.22 USD. what this means my peoples is that the enterprise value of farichild should be $69,144,487.
further, on the fiancials released for 2006 - under significant accounting policies under (a) going concern - it states: the application of going concern concept is the form of loans and advances from springbend holdings limited and management is of the opinion that sufficient working capital would be obtained from springbend holdings limited to meet the groups liabilities and commitments as they become payable. well, guess what, i'd hope so because they're the same entity - which answers why they've kept this company listed as long as they have. (if, i'm right that is).
supporting info can be found on edgar
( https://www.secinfo.com/dRqWm.44T3.htm )and sedar under the
financial statements for years ended december 31, 2002 and 2001 - page 7 under business combination - which reads: on august 3,1995, the company acquired the entire issued and outstanding share capital of springbend investment company limited
if i'm right, this looks like a big score - thoughts or comments anyone?
also, i've tried to call the company a few times on the number provided on the halt memo but there was no answer.