Might China Integrated Energy, Inc. (OTCMKTS:CBEH) Be Headed Above $1 Again
The stock of China Integrated Energy, Inc. (OTCMKTS:CBEH) rarely attracts much investor attention and has very unstable movements. Things, however, might begin to heat up after the company posted their latest financial report yesterday.
It was filled with some very large numbers that are allegedly correct, however, the whole story is very fishy as we explained in the previous article we wrote about them in December, about the surveilance of their properties and the lawsuits filed agains them.
Another thing is that the report is not really recent and despite it is posted in 2014 it covers the yearly period ended December 31, 2011.
- cash: $146 million
- total current assets: $234 million
- total assets: $318 million
- current liabilities: $13 million
- total liabilities: $18 million
- revenues: $500 million
- net income $28 million
We would be pretty amazed at how the price of this alleged gem in the OTC markets is still so low if we haven’t had the opportunity to watch a video of one of their facilities in which they made an investor tour and that was basically the only day in which the site was operating, despite CBEH‘s claims that it was working at 100%.
Not to mention that this will not be the first case in which a chinese company is filing reports with the SEC containing fictional numbers and investors going crazy pushing the prices sky-high. Yesterday, CBEH made a decent 11% jump to $0.89 and seems to be headed above the $1 mark for now, with a 26% jump since today’s market open and a current price of $1.13.
Still there is a lot of time until the final bell and the direction might change. In any case, be sure to do a lot of due diligence and weigh out the risks, especially when dealing with chinese companies and their stocks.
Yesterday was a bad day for some of the stocks in the medical marijuana sector as we saw Terra Tech Corp. (OTCBB:TRTC), Cannabis Science Inc. (OTCMKTS:CBIS) and Hemp Inc. (OTCMKTS:HEMP) lose more than 10% of their value after Monday’s gains.