Jovita Baltrusaityte

Yasheng Eco-Trade Corp. (OTCBB: YASH) is on the Hunt for Director!

by Jovita Baltrusaityte August 18, 2009
logo1.gifIf you want to become a director of a company, call Yasheng Eco-Trade Corporation, and they will take care of that. I am just joking, but this is a real situation in which Mr. Eric Qian Wang has been recently placed. Let me tell you the whole story.

In the middle of July, Vortex Resources Corp. changed its name to Yasheng Eco-Trade Corporation (YASH.ob, or OTCBB: YASH). In addition, the stock symbol was changed from VXRC to YASH. As the new company started its activity, the need to hire a new director emerged. For this reason, on August 3, 2009 Eric Qian Wang was appointed as a director of Yasheng Eco-Trade Corporation. However, later it was announced that he hasn't accepted such nomination and it was withdrawn. That's quite an ironic situation, I would say. Let's now move to the actual events at the company.

According to the quarterly report of March, current assets constituted $610,000, from which only $10,000 is cash. If compared to the results of December 2008, assets have decreased by 83%. In the meantime, liabilities of $2,068,000 in December decreased to $1,236,000. Despite that, YASH is unable to cover all its debt. You can see that this is a rather difficult period in the history of Yasheng Eco-Trade.

The stock chart analysis does not promise a positive future either. After trading yesterday, the share price tumbled down by 13% and settled at $0.56 per share. As volume seems to have decreased, it appears that investors have started selling their shares.

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However, YASH is on the way to get more attention from stock promotions. Recently, it made a deal with OTC Picks and paid $2,500 for the service of promoting the stock. Meanwhile, 24-7 Stock Alert was compensated by 500,000 shares, while Dubai Penny Stock received $25,000.

Thus Yasheng Eco-Trade Corporation does not seem to be fishing around only for a new director of the company. It also is trying to attract more investors, which would swell the ranks of the present 131 investors. Just don't get into a trap.

Reference:

http://www.yashengecotrade.com/

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