user6244

Nine Top China Plays

NWD, still lacking any transparency, they have since removed the investor relations link from there outdated website (probably threaten by the investor relations company). Attempt to call by phone results in nobody answering the phone. In fact if you go too there chinese website and try to call any of the factories listed nobody answers.

The phone number listed on the SEC filing actually is cissy lau from venfund which is owned/run by the former CFO Peter Mak, who supposedly due to family reasons quit, only to turn up at another company very recently, basically it appears that the gig was up and or Peter Mak finally discovered that NWD doesn't give a flying you know what about investors especially from the USA.
Ling Wang having taken over the CFO position immediately sold all of the shares gifted to her as a sign of what? Her lack of faith in turning things around?
How about the chairman who sells 6 million shares well below market price (@.10). If this isn't a scam I not sure what is.
I have filed complaint after complaint with SEC and even contacted government officials in the PRC but all have totally ignored the fleecing that is taking place!!!!!
Anyone in the recent past who pumped this trash as a real company may they all rot in hell!!

Nine Top China Plays

Looks like it to me in fact I have been nearly begging the SEC to take a look but not holding my breath since it is clear after the madoff scandal they would rather not look into anything especially if it only affects small investors...

Nine Top China Plays

NWD posted a 1.5 million loss for 2008, there website while up finally is outdated. For example they still have the IR relations link which they dumped. They were on Florida's inactive list of corporations for some time and only recently got that activated.

They indicate they can still produce x amount of flour yet they just sold off one of there factories that stood idle for a year, so i doubt that information is still valid. Peter Mak was canned oh I am sorry they said he resigned. The new temp CFO will not reply to either email link even if you attempt to contact using chinese language... Forget calling if you do not know the language you'll never get past the secretary. When I asked for Peter Mak prior to his departure the secretary didn't have a clue who Peter Mak was. Oh and they have a chinese website as well but appears to be well dated as well.
I find it also interesting that they purchased a packaging company a while back and have year after year since been pumping money into it (I must assume since they lack transparency that they bought a shell of a packaging company and now are attempting to actually create a packaging company for the soymilk of course that should have started this quarter but probably hasnt since the packaging part is still requiring even more money.....

What is really sad is that should the company actually turn things around and the share price starts to return they will then be punished for all the class A shares they handed out that are excersicable to 2010....So basically the share price will probably go sideways till at the very least 2010 then if and only if they are still a going concern will things turn around...IMO

Yes I currently and sorrowfully own 25K@.50 of the damn shares!!


On Mar 11 06:33 AM anil mewara wrote:

> Here is the press release.
> Chairman of New Dragon Asia Corporation Announces Intent to Purchase
> Shares
> Wednesday July 9, 2008 9:00 am ET
>
>
> SHENZHEN, China, July 9, 2008 (PRIME NEWSWIRE) -- New Dragon Asia
> Corp. (AMEX:NWD - News), one of China's leading producers of instant
> noodles, flour-related products and soybean-derived products, announced
> today that New Dragon Asia Food Limited, which is controlled by New
> Dragon's Chairman, Heng Jing Lu, will purchase approximately US$1
> million worth of the Company's outstanding shares of common stock
> currently trading on the public market over a period of 12 months
> commencing today. New Dragon Asia Food Limited is currently the largest
> holder of New Dragon Asia Corp. common stock. The Board of Directors
> of New Dragon Asia Corp. has been informed of Mr. Lu's intent. The
> trading price of New Dragon's shares of common stock on the American
> Stock Exchange as of July 8, 2008 was $0.45.
> ADVERTISEMENT
>
>
> Heng Jing Lu, Chairman of New Dragon Asia Corp., commented, ``New
> Dragon Asia has consistently executed on our strategy, achieving
> solid financial and operational results, and I do not believe current
> share price levels are reflective of our performance. We have increased
> our revenues year-on-year for the last six years, and have maintained
> steady margins even in what has recently become a more difficult
> pricing environment. Demand for our products remains strong, both
> in China and abroad and we continue to aim for a higher margin sales
> mix.''
>
> Lu concluded, ``I would like to take this opportunity to reaffirm
> both our commitment to our shareholders and our focus on increasing
> shareholder value.''
>