Inside Breaking News For Investors Released..
CHINA WORLD TRADE CORP IS ON THE RUN AGAIN.
Current Price : 2.31
CWTD***CWTD***CWTD***CWTD
Ready to Run
Is This One Ready to Explode Higher Move?
How Will it React To This News Being Released?
Good Luck and Successful Trading..
CWTD News is out, stock is going to rock, Company has already
facilitated the m0ney it need's to continue it's rapid growth
CURRENT PRICE 2.28
Projection 5 to 7 Days 4.50 - 5.00
Projection 8 to 12 Days 6.00 - 8.00
China World Trade Corporation Acquires Hotel Booking And Group Tour Travel
Agency
Monday August, 8th 8:42 am ET
Company's Strategic Acquisition Further Positions Itself as a Leading Business
Services Company in China
GUANGZHOU, China, Aug./Xinhua-PRNewswire/ -- China World Trade Corporation (OTC
Bulletin Board: CWTD - News; ''CWTC'') announced today that its subsidiary
Guangdong New Generation Commercial Management Co., Ltd (''New Generation''),
entered into an agreement to acquire Guangdong Hao Shi Guang Travel Agency
Limited (''Hao Shi Guang'') from Guangdong Rising Hotel Group Co., Ltd
(''Guangdong Rising Group''). Under the agreement, New Generation will obtain a
majority stake of up to 70% of Hao Shi Guang through a capital injection. The
cooperation will also include a joint development of an interactive hotel
booking system connecting Guangdong Rising Group hotel chains and integrating
them into New Generation's current travel booking enterprise system which will
further enhance its travel offerings to New Generation's customers.
''We are excited and confident that our cooperation with CWTC's travel
subsidiary, New Generation will lead to future success in the continued
development of our travel business in Southern China,'' said Mr. Bangfu He,
President of Guangdong Rising Group, ''The Guangdong Rising Group runs a wide
range of travel related services including hotel bookings, group travel
services and ground transportation arrangements. This strategic acquisition
will allow us to capture more of Southern China's travel market share by
offering a broader range of services to our customers.''
!!!!!!!!!!!!!!We cant wait to see where this one goes.!!!!!!!!!!!!!!!!!!!!!!!!!
Staff Salaries, Benefit and Allowances: Staff salaries, benefit and allowances
increased by $597,000 for the year ended September 30, 2003. The increase was
primarily due to the salaries, benefit and allowances paid for staff in the
operations of Guangzhou World Trade Center Club. As of September 2003, the
Company had approximately 80 full-time employees, down from 110 employees six
months ago.
On March 29, 2005, our board of directors approved the sale of the after-tax
rental income rights of 21st to 23rd Floor, Goldlion Digital Network Center,
138 Tiyu Road East, Tianhe, Guangzhou to our Chairman, Mr. Chi Hung Tsang at
the book value of $1,320,000. As a result, a cash balance due from Mr. Tsang in
the amount of $377,504 as of March 31, 2005 was subsequently paid off on April
28, 2005. The total consideration of $1,320,000 would be used to provide
additional working capital for our group of companies.
The Registrant reports that a Complaint, dated December 10, 2004, styled as
Kenneth P. Silverman, Esq., as Trustee for the Estate of Chief Executive
Officers Clubs, Inc., Plaintiff vs. CEO Clubs China Limited, China World Trade
Corporation, Simon Guo and J.P. Li, Defendants (the "Complaint"), was filed and
has commenced an Adversary Proceeding relating to a bankruptcy case pending in
the U.S. Bankruptcy Court for the Southern District of New York, captioned as
In Re: Chief Executive Officers Clubs, Inc., Debtor. The Complaint, a copy of
which is attached hereto as Exhibit 10.1, alleges, among other things, that
certain assets of the Chief Executive Officers Clubs, Inc. bankruptcy estate
were transferred to the Registrant in violation of Section 549 of the
Bankruptcy Code. It requests that the Bankruptcy Court order, among other
things, a return of such assets by the Registrant and/or seeks a judgment
against the Registrant in the amount of not less than $480,000.00.
