Ultimate Due Dilligence of INBG(Final Version)
Thisfinal version has 4 parts, if people here ever read my previous DD aboutINBG, u can simply skip part 1,3 as they are mostly the same, only bigchange is the part 2 and part 4, which is the prove of existence ofFHH-Sino as well as its general business info and public news
Part-1
First of all, i am a chinese and i speakMandarin, i see people here have hard time to just find a chinese toverify information about the merger news or make a call to the companiesin China(because people don't get response for calling companies in USAas they said), so i made several
international call last week according to thetel. no. listed on INBG website which is 011-862886029750, a company inChengDu city, Si Chuan province of China.
https://www.ibtgi.com/contact.asp
As some people already stated before, they made the call,but the woman didn't speak English. I made the call, and indeed therewas a woman who talked with me in Mandarin,so here is some questions iasked her about
What is the name of your company in chinese?
An-he-di(which i translate it from what she said in chinesewords)
Who is your boss?
KennethYeung
Is the company u work has business related topetroleum delivery or storage?
She said kind of, butnot their core business
then i asked her a veryimportant question, is your company planning to merge with anothercompany?
She stopped for few seconds and suddenly askedme who i am and if i represent other companies to do business withthem, i said i am just a normal person, just showing interest because iread some news from INBG, then she replied me she can not tell me aboutit before she informs her upper manager
then i askher, does the company have other office in other province in China anddo they have website?
She said yes, except the officein ChengDu which is stated in official INBG website, they still haveoffice in Shanghai, where is their main operating office
their official website:
https://1963485.01p.com/
related info:
https://www.wemo.com.cn/city/190/company/41163.htm
Note: As people already know the existence of INBG, so i don'ttalk too much here, just give out more general info of INBG and thecontent of my conversation with INBG in China
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Part-2
Old parts:
Part-2, is aboutthe address of FHH-Sino
FHH Sino New Energies Co., Ltd.
Rm. 1403, Zhong Xin Bldg.,
2 Qing Dao N. Road, Weihai
Shangdong Province, PRC 264200
this address clearly stated in8-k form as everyone knows, so i translated it into chinese thensearched it, and here is what i found
https://www.eemap.org/id/90570
More photos:
https://www.gaoloumi.com/viewthread.php?tid=7358&extra=page%3D3
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New parts:
Now, it comes to the most importantpart all people here are aware of, first of all, i have to thank
skippyj,without his chat with his friend in China, i think we will never knowand have chance to prove the existence of FHH-SINO,
greatlyappreciated.
then i suggest everyone here uses member
renoldman'stranslation website, it's useful to know the general details of Chinesestuffs i am going to post out, some pages can not be directedtranslated like the one involves maps, but u can still copy and pastekey words to that translation website to know the general meaning
justin case u don't have your own translation website, this is whatrenoldman uses
https://babelfish.yahoo.com/translate_txt
Return to the topic, skippyi posted this link
https://www.weihai.gov.cn/xw/default.asp?id=209411
from the link, the company name is the first 3 chinese characterswhich have no real meaning if u use translator, and those 3 are itsmain name which represent Fu-Hai-Hua
in the form of Pinyin, thatmatches FHH
if u have Pinyin translator, u should come out the same result i statedabove which is Fu-Hai-Hua
same news from other
newspaper:
https://www.sd.xinhuanet.com/wq/2009-05/21/content_16590892.htm
so the full name of the company should be
Fu-
Hai-
Hualiquid chemical industry Limited company if we just translate itdirectly, except the first 3 characters, the rest are meaningful wordswhich can be translated meaningfully
Also noted that from thenews, it says Fu-Hai-Hua got approved for its first phase to constructoil storage tanks in WeiHai, 320,000 cubic meter, that's exactly thesame number what 8-k form stated which is also 320,000cm for first stage
Now, it comes to the location of FHH:
https://www.mapabc.com/detail/0631/B027700X79.html
another link to prove:
https://map.baidu.com/?newmap=1&s=inf%26uid%3D5bc7bd499f3c50008c55ec84%26c%3D1418%26it%3D1&fr=10
the address is exactly the same as the one being stated in8-k form if u use translator, same road, same building,
same roomnumber, highlighted area in the picture is the address
i also found that someone else asked question about FHH in achinese forum, it further confirmed FHH at that address when that guymade the post to ask in year 2008/12/11
https://bbs.wh.sdu.edu.cn/ShowPost.asp?ThreadID=1745712
the highlighted sentence means "how's this company? in ZhongXinbuilding, does anyone know?" u can use translator to verify
however, it has another office with different address in weihai:
https://map.baidu.com/?newmap=1&s=inf%26uid%3D3f99a2ee13cc58556d476057%26c%3D1418%26it%3D1&fr=10
Now, this's the official website with its
contact information i found and theaddress they use here is the second office:
https://2343167.01p.com/lianxi
Now it comes to a important part which matches the infostated in 8-k, remember the general manager is Peter Wang xiaoping? herehe is if u use translator
8-k form:
https://www.faqs.org/sec-filings/100602/International-Building-Technologies-Group-Inc_8-K/ex10-1.txt
Prove from internet:
https://www.e-weihai.gov.cn/cn/news/index_show.jsp?id=8288
From another source:
https://www.whport.com.cn/text.php?artid=1279
Both sources clearly state the general manager is called "WangXiao-Ping for the company Fu-Hai-Hua
Not only this, but alsonote that in 8-k form, it states FHH has business relationship withSino-Petro, which is the most largest and famous oil company currentlyin China as well as its security being traded in ,US, China and HongKongstock
exchangemarket, in chinese, its short form name is
that is, Sino Petroleum Corporation
the picture above iscopied from the news:
https://www.e-weihai.gov.cn/cn/news/index_show.jsp?id=8288
that's when FHH held foundation laying ceremony after it gotapproved for its first phase to construct large-scale oil storage tanksin weihai, Sino-petro sent its company important staff to attend theceremony, why Sino-petro sent its people to attend? from this news, if uuse translator, it states:
The Weihai Phuhai China liquidchemical industry Limited company is founded in 2005, the registeredcapital 62,000,000 Yuan, is a fair petroleum trade, the warehousing is abody's petrochemical
enterprise,is also Weihai
only one attains approves the
constructionthe large-scale fuel fuel depot Private enterprise
https://babelfish.yahoo.com/translate_url?doit=done&tt=url&intl=1&fr=bf-res&trurl=http%3A%2F%2Fwww.e-weihai.gov.cn%2Fcn%2Fnews%2Findex_show.jsp%3Fid%3D8288&lp=zh_en&btnTrUrl=Translate
the translator is not good enough to explain things clearly,let me rephrase, the company is the only one which attains approval forthe construction of large-scale fuel depot private enterprise, thatillustates why Sino-Petro had to send people to attend if they want todevelop and store their oil in WeiHai, not only Sino-Petro, there areother companies which sent people to attend based on the article, but in8-k, of course it's better to just state the biggest 2 oil companies
So,
we have proved the name, address, general manager andbusiness relationship with Sino-Petro, is that enough? judge it byyourself:)
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Part-3:
finally, some knowledge about thetime for waiting a merger, i found that there are indeed many people whodon't do any research about INBG and the details of R/M, and justcrying to say when it will have news, i can only say company has noresponsibility to release updated info about it as preparation of PRtakes time, they would rather focus on due dilligence during negotiationof merger, here is some info about it
The transaction canbe accomplished in as little as two weeks, resulting in the privatecompany becoming a public company.
https://www.flexfinancialgroup.com/reversemerger.html
Depending on the length of negotiations, due diligence,and the audited or unaudited status of the financials of the twocompanies, the transaction is usually completed within two to threemonths. In some cases, the transaction can be completed in as little astwo weeks.
https://luganocapital.com/services.html
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Part-4:
In conclusion, if u need any helpfor understanding my DD, i can help u to understand by translation,personally, i highly believe it's a real deal from what i have found andperceived, just like i asked the woman if they are planning to mergewith another company, she said she can't tell me about it instead ofsaying she doesn't know, it makes me believe they already know thedetail of merger from their boss Kenneth, at least it's what i think,according to the definition of R/M, 2 weeks has passed, it can come assoon as next week, or it may come one month after which only time cantell, if u doubt what i said, just go grab a chinese friend or dude, paythem some bucks to verify what i posted and translated here, searchinfo online and call the companies in china, ask similar questions, ibelieve u will get the same answers, i just state the facts about what ifound
Both companies' tel.no are stated on the links iprovided, call them if u want, but i doubt they will tell u any infoabout the merger, because if they tell you, what's the difference ofinsider trading? they will only tell you unless they want to go to jailor be fined for big money
i don't care if the pps drops to0.0001 which is unlikely as i now state all the information about bothcompanies clearly, i will just say 0.001 next week, i will just cross myfinger and wait for the news hit the wire, and keep in mind, again,companies have no responsibility to release updated info about themerger, if people have ever read many different LOI about merger before,some cases company will state clearly they have no responsibility torelease updated info, and some cases even don't have the name of mergercandidate stated, like this one
https://ih.advfn.com/p.php?pid=nmona&article=43251890&symbol=LLSR
Hence, we are in much better situation as we know the nameof merger candidate now, also bunch of info about them with the 8-klegal document filed to SEC
finally, since some bashers hadrecord to say i created website, nice, i must be an IT expert to createso many website, check it yourself, enter the address here and check thecreation date of the site
https://whois.domaintools.com/
for the valuation of PPS, from other people's previous DD,they said 0.02, now i doubt it, as the news on the internet states"thecompany is the
only one which attains approval for theconstruction of large-scale fuel depot private enterprise"
it's same as a monopoly business in WeiHai, with 54m asset being statedin 8-k, with O/S shares of "2,733,177,093", yes, it gives out 0.02, butif we use a conservative multiplier of 10 for the P/E should give us
.2,but i think we are satisfied to have
.02 anyway, lol
Note:i kind of rushed to finish this DD, so there may be some misspellingerrors and further more, English is not my mother language, finally,sorry, the DD is long, but i just want to give all the info i have to uguys