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China Industrial STL Inc (GM)

China Industrial STL Inc (GM) (CDNN)

0.000007
0.00
(0.00%)
Closed July 24 4:00PM

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Current Price
0.000007
Bid
0.00
Ask
0.00
Volume
-
0.00 Day's Range 0.00
0.00 52 Week Range 0.00
Previous Close
0.000007
Open
-
Last Trade
Last Trade Time
Average Volume (3m)
-
Financial Volume
-
VWAP
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CDNN Latest News

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PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000CS
40000000CS
120000000CS
260000000CS
520000000CS
156-0.002093-99.66666666670.00210.00481.0E-6372840.00126791CS
260-0.003993-99.8250.0040.041.0E-6527450.0132969CS

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CDNN Discussion

View Posts
makinezmoney makinezmoney 5 years ago
$CDNN: Ya... i see vol pouring in here too


Now at $0.03...... a lil late to the game, but this has been
beaten down way too long.



GO $CDNN
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Kobe Ginobili Kobe Ginobili 5 years ago
In .02 strong eod action and a block went off higher + 500k bid support showed up near close at 013 looking for gap/breakout over 04 then savage psych break at 05 if works

CDNN
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StevetradesOTC StevetradesOTC 5 years ago
I took a few. Not sure what's coming. Reinstatement maybe? Last filings were in 2014. They did a 15-12G back then.
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jchords jchords 5 years ago
Volume pop today
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Otcstockrevolution Otcstockrevolution 7 years ago
I love you more beautiful than anything else as your stock is quoted in dollars even though I love the Chinese yuan more. You are so beautiful to me china. Golden. Making friends. Not enemies. Trade to shine not to Alienate. Glad.now to be a holder of 10 thousand shares. I love you. May your company shine a light so bright on what otherwise is the steel Curtin surrounding America's world
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srm4u srm4u 10 years ago
I read some of the filings here and it just seems odd.
IE, one of biggest holders is: Fakei Investment Ltd. (FAKE ?)
And then there is a filing which states that someone is entitled to buy 1,259,530 shares at a price of $0.0001 per 100 shares.


Under the laws of the PRC, certain restrictions are placed on round trip investments through an acquisition of a PRC entity by an offshore special purpose vehicle owned by one or more PRC residents as well as foreign investment in iron and steel industry. To comply with these restrictions, on August 1, 2010, we, through Nuosen, entered into a Entrusted Management Agreement, Exclusive Option Agreement, and Covenant Letter (collectively, the “Entrustment Agreements”) with Hongri Metallurgy and shareholders of Hongri Metallurgy Shareholders, Fakei and YBS Group. We issued 44,083,529 restricted shares of our common stock to Karen Prudente, a US resident who entered into call option agreements (collectively, the “Call Option Agreements”) respectively with the shareholders of YBS Group, for YBS Group entering into the Entrustment Agreements. In addition, we issued 17,493,463 restricted shares of our common stock to Fakei, for Fakei entering into the Entrustment Agreements. According to the Call Option Agreements, Karen Prudente would transfer all restricted shares of our common stock she received to the shareholders of YBS Group subject to the terms and conditions thereunder and entrust the shareholders of Hebei with her voting rights in the Company. Karen Prudente’s role with respect to the restricted shares held by the Hongxing Shareholders is to manage the trust of the Hongxing Shareholders. These restricted shares issued to Karen Prudente and Fakei were issued in reliance upon the exemptions set forth in Section 4(2) of the Securities Act of 1933, as amended, on the basis that they were issued under circumstances not involving a public offering. As a result of the aforementioned transaction, the shareholders of YBS Group and Fakei obtained control of the Company.

Generally, we provide Hongri Metallurgy with technology consulting and management services pursuant to the Entrustment Agreements, the material terms which are as follows:

·Entrusted Management Agreement – pursuant to this agreement entered into by and among the Hongri Metallurgy Shareholders, Hongri Metallurgy, and Nuosen, the Hongri Metallurgy Shareholders and Hongri Metallurgy entrust the management of Hongri Metallurgy to Nuosen until (a) the winding up of Hongri Metallurgy, (b) the termination date of the agreement as determined by the parties, or (c) the date on which Nuosen acquires Hongri Metallurgy. During the term, Nuosen is fully and exclusively responsible for the management of Hongri Metallurgy. In consideration of such services, the Hongri Metallurgy Shareholders and Hongri Metallurgy will pay a fee to Nuosen as set forth in the agreement.

·Exclusive Option Agreement – pursuant to this agreement entered into by and among Nuosen, the Hongri Metallurgy Shareholders, and Hongri Metallurgy, the Hongri Metallurgy Shareholders grant Nuosen an irrevocable exclusive purchase option to purchase all or part of the shares of Hongri Metallurgy, currently owned by any of the Hongri Metallurgy Shareholders. Further, Hongri Metallurgy grants Nuosen an irrevocable exclusive purchase option to purchase all or part of the assets and business of Hongri Metallurgy. Nuosen and the Hongri Metallurgy Shareholders will enter into relevant agreements regarding the price of acquisition based on the circumstances of the exercise of the option, and the consideration shall be refunded to Nuosen or Hongri Metallurgy at no consideration in an appropriate manner decided by Nuosen. Upon the exercise of the option, Nuosen will be subject to non-competition restrictions as set forth in the agreement.

·Covenant Letter – pursuant to this letter, the Hongri Metallurgy Shareholders irrevocably covenant that without the prior written consent by Nuosen, the Hongri Metallurgy Shareholders would not transfer, pledge or create any encumbrance in other way on all or part of the contribution and share equity of Hongri Metallurgy, or increase or decrease the registered capital of Hongri Metallurgy, or divide or merge the Company or conduct any other activity which would change the registered capital or shareholding structure of Hongri Metallurgy.


43
Table of Contents

Call Option Agreement

Liu Shenghong, our Chairman of Board of Directors and one of the shareholders of YBS Group and other several the shareholders of YBS Group (each of them, the “Purchaser”) have entered into call option agreements, dated as of August 10,], 2010 (collectively, the “Call Option Agreements”), with our major shareholder, Karen Prudente, pursuant to which they are entitled to purchase up to 100% of the issued and outstanding shares of Karen Prudente at a price of $0.0001 per 100 shares for a period of five years, as defined in the Call Option Agreements; the Option may be exercised, in whole or in part, in accordance with the following schedule: 34% of the Option Shares subject to the Option shall vest and become exercisable on January 1, 2012; 33% of the Option Shares subject to the Option shall vest and become exercisable on January 1, 2013 and 33% of the Option Shares subject to the Option shall vest and become exercisable on January 1, 2014.

Through the Entrustment Agreements , we have the ability to substantially influence Hongri Metallurgy’s daily operations and financial affairs, appoint its senior executives and approve all matters requiring shareholder approval. As a result of the Entrustment Agreements, which enable us to control Hongri Metallurgy and operate our business in the PRC through Hongri Metallurgy, we are considered the primary beneficiary of Hongri Metallurgy.

When we sell our equity or borrow funds we expect the proceeds will be forwarded to Hongri Metallurgy through Nuosen. We may also use the proceeds to repurchase our capital stock or for our corporate overhead expenses. If we borrow funds we expect to be the primary obligor on any debt. For example, in February 2011 we raised gross proceeds of $3,868,547 in a private placement from certain non-affiliated accredited investors in a private placement of our common stock. Net proceeds after our expenses were provided to Hongri Metallurgy through Nuosen.

Nuosen’s control over Hongri Metallurgy under the preceding agreements requires us to consolidate its financial statements pursuant to the FASB Interpretation 46, “Consolidation of Variable Interest Entities (VIEs)” (“FIN 46R”), an Interpretation of Accounting Research Bulletin No. 51 because Hongri Metallurgy is considered a variable interest entity of Nuosen.

FIN 46R requires a variable interest entity to be consolidated by any company that is subject to a majority of the risk of loss for the variable interest entity or is entitled to receive a majority of the variable interest entity’s residual returns. Since Nuosen is the primary and only beneficiary of Hongri Metallurgy (the variable interest entity), FIN 46R requires the consolidation of its financial statements with Nuosen and ultimately consolidated with Nuosen’s parent company, China Industrial Steel.

By causing our subsidiary Nuosen to enter into the Entrusted Agreements, we obtained substantially the same result as a direct share exchange, which is to permit us to consolidate the financial results of Hongri Metallurgy as our VIE.
http://www.sec.gov/Archives/edgar/data/1510871/000118518511000119/chinaindustrial-s1020311.htm#dilution
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srm4u srm4u 10 years ago
Plenty of companies have filed a 15-12g and still trade.
yes I stand corrected, taking required actions to terminate registration of its common stock is with the SEC so they can suspend its duty to file reports.

Also interesting that the company has a lot of people with the last name of Liu and one of the counsels in yesterdays NR also has the same last name
Liu is not his last name, but is his first....Liu Shenghong CEO
http://ih.advfn.com/p.php?pid=nmona&article=61714329
http://www.sec.gov/cgi-bin/browse-edgar?company=CHINA+INDUSTRIAL+STEEL+INC.&owner=exclude&action=getcompany

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renoldman renoldman 10 years ago
How can you be independent when you are a relative (if they are related)?
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renoldman renoldman 10 years ago
Plenty of companies have filed a 15-12g and still trade.

What happened here is someone promoted the stock, and the stock went up with lots of volume.

The company was contacted and reiterated that they had filed the 15-12g.

I read some of the filings here and it just seems odd.

IE, one of biggest holders is: Fakei Investment Ltd. (FAKE ?)

And then there is a filing which states that someone is entitled to buy 1,259,530 shares at a price of $0.0001 per 100 shares.

Also interesting that the company has a lot of people with the last name of Liu and one of the counsels in yesterdays NR also has the same last name.
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srm4u srm4u 10 years ago
the way i see it is they are taking required actions to terminate registration of its common stock......or in other words the ticker will be delisted at a certain time and will no longer trade, if you are a shareholder at that time you can lose your investment.
http://ih.advfn.com/p.php?pid=nmona&article=62369720&symbol=CDNN
http://ih.advfn.com/p.php?pid=nmona&article=61714329
http://www.investopedia.com/ask/answers/04/040804.asp
http://online.wsj.com/news/articles/SB10001424052702304703804579382411311049966
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YoungB22 YoungB22 10 years ago
Ok ... What did that mean for someone invested!
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YoungB22 YoungB22 10 years ago
What does that mean for investors
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srm4u srm4u 10 years ago
What does an issuer need to file to terminate its
reporting obligation arising because the issuer has a
class of securities registered under Section 12(g)?

An issuer seeking to terminate its registration under
Section 12(g) must file a Form 15. Form 15 provides a
certification and notice of termination of registration
under Rule 12(g), which becomes effective 90 days after
the Form 15 is filed.
An issuer that has a class of equity securities
registered under Section 12(g) may terminate that
registration pursuant to Section 12(g)(4) if: (i) the
number of record holders of that class falls below 300; or
(ii) the number of record holders of that class falls below
500 and the issuer’s assets have been no more than $10
million at the end of each of its last three fiscal years.
For issuers that are banks or bank holding companies,
Title VI of the Jumpstart Our Business Startups Act recently
increased the 300 persons held-of-record test in Section 12(g)
(4)to 1,200 persons.If an issuer files a Form 15 to terminate registration under Section 12(g), it does not have to file any current or periodic reports that are due on or after the date the
Form 15 is filed. Until the termination of the Section 12(g)
registration is effective 90 days after the Form 15 is
filed (or such shorter period as the SEC may determine),
any other obligations, such as those under the proxy
rules, Section 16(b), and certain beneficial ownership
reporting requirements, will continue to apply. Once
the termination of the Section 12(g)registration is effective 90 days after the Form 15 is filed, all reporting
obligations arising from the Section 12(g) registration
are terminated. This deregistration process is designed
to operate by the passage of time, with a “safety valve”
allowing the SEC to intervene in limited circumstances, if necessary. The SEC does not usually provide for any
shorter period of time for deregistration under Section
12(g)
http://media.mofo.com/files/Uploads/Images/FAQ-Suspending-Reporting-Obligations.pdf
http://www.sec.gov/divisions/corpfin/guidance/exchangeactrules-interps.htm
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YoungB22 YoungB22 10 years ago
What does that mean?
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srm4u srm4u 10 years ago
China Industrial Steel Seeks to Suspend Its 1934 Act Reporting Obligations
http://finance.yahoo.com/news/china-industrial-steel-seeks-suspend-000000050.html
Xtremepicks: CDNN (China Industrial Steel) - On XTREME short Squeeze Alert!
http://stockreads.com/Stock-Newsletter.aspx?id=77851
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Penny Machine Penny Machine 10 years ago
CEO just resigned & 15-12G just released Today, Possible R/M imo

http://ih.advfn.com/p.php?pid=nmona&article=61714337

http://ih.advfn.com/p.php?pid=nmona&article=61714329
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srm4u srm4u 11 years ago
Chief Financial Officer of China Industrial Steel Inc. (the “Company”), Delong Zhou, and the US based director of the Company, Frank Pena presented an overview of the Company at DealFlow Media's Conference at The New York Marriott Marquis, on Tuesday, December 18, 2012 at 10:50 am local time. A copy of the presentation is attached hereto as Exhibit 99.1.
http://www.sec.gov/Archives/edgar/data/1510871/000118518512002807/ex99-1.htm
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srm4u srm4u 11 years ago
http://chinaindustrialsteel.com/highslide/images/large/cdnn_6.JPG
http://chinaindustrialsteel.com/photosvideos.php
http://www.otcmarkets.com/stock/CDNN/company-info
http://www.sec.gov/cgi-bin/browse-edgar?company=CHINA+INDUSTRIAL+STEEL+INC.&owner=exclude&action=getcompany
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madras50 madras50 11 years ago
is this a scam company or is it going up
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MadeBucksOnThis MadeBucksOnThis 11 years ago
China Industrial Steel, Inc. Reports Third -2-
parties 257,757 165,787 772,282 1,048,696 Total Selling and General and Administrative Expenses 1,856,540 745,151 4,003,002 2,989,116 ----------- ----------- ----------- ------------ Income From Operations 4,820,932 (3,122,899) 11,155,744 7,914,119 ----------- ----------- ----------- ------------ Other Income (Expenses) Interest and other income 55,592 137,276 109,265 191,885 Interest expense (847,765) (584,983) (3,334,508) (2,451,068) Interest expense - related parties (172,575) (177,674) (514,205) (1,464,263) Total Other Income (Expenses) (964,748) (625,381) (3,739,448) (3,723,446) ----------- ----------- ----------- ------------ Income from operation before income tax 3,856,184 (3,748,280) 7,416,296 4,190,673 Provision for income tax 1,092,562 - 2,230,355 1,384,392 Net Income 2,763,622 (3,748,280) 5,185,941 2,806,281 ----------- ----------- ----------- ------------ Earnings Per Share - Basic and Diluted $ 0.04 $ (0.05) $ 0.07 $ 0.04 Weighted Average Shares Outstanding - Basic and Diluted 73,620,391 73,620,391 73,620,391 73,585,924 Other Comprehensive Income: Foreign currency translation gain 570,656 2,042,302 3,560,960 243,850 Comprehensive Income $ 3,334,278 $(1,705,978) $ 8,746,901 $ 3,050,131 =========== =========== =========== ============ About China Industrial Steel, Inc. China Industrial Steel, Inc., ("CIS" or the "Company") through its wholly owned subsidiary, Handan Hongri Metallurgy Co., Ltd., produces and sells steel plate and steel bar for domestic and export customers. The Company currently operates three production lines from its headquarters on approximately 1,000 acres in Handan City in the Hebei Province, China, where steel production is a significant component of the regional economy. Forward-looking statements: The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based. China Industrial Steel, Inc. www.chinaindustrialsteel.com For more information, please contact: Delong Zhou Chief Financial Officer Phone +1-917-825-2997 SOURCE China Industrial Steel, Inc. /Web site: http://www.chinaindustrialsteel.com (END) Dow Jones Newswires November 15, 2013 11:57 ET (16:57 GMT)
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