A Youtube of China and an explorer of mineral properties in British Columbia, Canada. Two - utterly unrelated types of business of China YouTV Corporation (CYTV) surely drive mad the company's shareholders.The company was also recently promoted on the spam campaign. Luckily, I did not receive any of that, thanks to my spam killer.
Anyway, let’s talk about this too un-specific company.
In the early days of March the company changed its name (previously Admax Resources, Inc. AMXU) to China YouTV Corporation.
Then the head of this company announced their plans to participate in the fast growing video sharing web site market in China and at the same time, continue its exploration of mineral properties in British Columbia, Canada.
The minerals mining sector and the video sharing sector are so different that I think it's rather beautiful that this wayward company is honestly relaying to potential investors and (ouch!) current investors their ridiculous intentions.
It seems they successfully accomplished their mission to get into the China’s market. Their clone of Youtube rapidly became a friend of search engines as Google, Microsoft and Baidu began to list it on the front of their search results.
As of the date of this report, the company has not generated any revenues from their business activities.
As of March 31, 2007, the company's total assets were $9,151 and our total liabilities were $45,786.
The company's stock arrived at a price of $0.20 at the time of polishing up this article. Having two unrelated types of business undoubtedly will not bring any good for the company.
The real Youtube has already come to the Chinese market. So, the end of the China YouTV's empire is yet to come soon.
Reference
http://quotes.nasdaq.com/asp/summaryquote.asp?symbol=CYTV&selected=CYTV
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