Wall st. Wheelin and Dealin
I bought into this last week at 0.110 cause Warren Buffet bought into china stock
Look for it to hit $3.
Im up 20% on QQQQ as of today. Im up 5% on BLU
Dragon Venture Signs a Letter of Intent to Acquire 33.8% Ownership of Shanghai Chengku Information Technology Company, LimitedWednesday June 1, 8:30 am ET
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 1, 2005--Dragon Venture (Pink Sheets:DRGV - News), a holding company of high-tech companies in China, announced today it has signed a letter of intent to acquire 33.8% ownership of Shanghai Chengku Information Technology Company, Limited ("Chengku") for $100,000. Chengku will increase its registered capital to reflect the new investment of $100,000 and the new shareholder and change its name to Dragon Chengku upon completion of the acquisition. Completion of the transaction is subject to the execution of a final merger agreement, due diligence process, and shareholder approval and which shall take place no later than the closing date of August 1, 2005.
Chengku, an e-commerce service provider within China for Chinese companies, was founded in June 2004 and has been profitable since January 2005 by operating its website at http://www.chengku.com/. Chengku owns the biggest enterprise database in China with information on more than 5 million Chinese companies that account for the majority of private companies in China. Chengku officially started its website in January 2005. Since then, its popularity has been soaring. According to http://www.alexa.com/, a site that monitors all websites on Internet traffic worldwide, ranks www.chengku.com approximately No. 4,000 in Internet traffic worldwide. As a professional commercial Internet media, Chengku develops its business based on a B2B model with E-commerce services. Chengku has developed more than 1,500 enterprise members since January 2005 and is the only gateway for urban business trading among businesses within China. Each member pays 5,000 RBM to 20,000 RMB (US$ 605 to $2,418) for annual membership fees.
Look for it to hit $3.
Im up 20% on QQQQ as of today. Im up 5% on BLU
Dragon Venture Signs a Letter of Intent to Acquire 33.8% Ownership of Shanghai Chengku Information Technology Company, LimitedWednesday June 1, 8:30 am ET
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 1, 2005--Dragon Venture (Pink Sheets:DRGV - News), a holding company of high-tech companies in China, announced today it has signed a letter of intent to acquire 33.8% ownership of Shanghai Chengku Information Technology Company, Limited ("Chengku") for $100,000. Chengku will increase its registered capital to reflect the new investment of $100,000 and the new shareholder and change its name to Dragon Chengku upon completion of the acquisition. Completion of the transaction is subject to the execution of a final merger agreement, due diligence process, and shareholder approval and which shall take place no later than the closing date of August 1, 2005.
Chengku, an e-commerce service provider within China for Chinese companies, was founded in June 2004 and has been profitable since January 2005 by operating its website at http://www.chengku.com/. Chengku owns the biggest enterprise database in China with information on more than 5 million Chinese companies that account for the majority of private companies in China. Chengku officially started its website in January 2005. Since then, its popularity has been soaring. According to http://www.alexa.com/, a site that monitors all websites on Internet traffic worldwide, ranks www.chengku.com approximately No. 4,000 in Internet traffic worldwide. As a professional commercial Internet media, Chengku develops its business based on a B2B model with E-commerce services. Chengku has developed more than 1,500 enterprise members since January 2005 and is the only gateway for urban business trading among businesses within China. Each member pays 5,000 RBM to 20,000 RMB (US$ 605 to $2,418) for annual membership fees.
posted by Joseph P. McNamara at 11:36 AM
3 Comments:
Thank you!
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