Dallas, Texas 09/27/2013 (Financialstrend) – As of August 22, CAM Group Inc (OTCBB: CAMG) stock has been temporarily suspended from being traded on the exchange. It share price had dropped 84% in the past 30 days and had settled at $0.2 per share on the day of suspension. The trigger for this was the filing of its quarter report which makes interesting reading. It has indicated a $7.54 million asset base against an equity base of $5.49 million. For the just conclude quarter it has recorded a $1.67 million revenue from advertising and a net income of $1.28 million. Most of the cash flow was generated by advertisement sales on LCD displays and fertilizer sales in China.
In early August the company filed a series of communication with SEC which puts in context the temporary suspension of trading of this stock.
The first important filing was the sudden resignation of Mr. Weiheng Cai as President, director and Secretary of CAM Group, Inc citing personal reasons effective July 30. In his place Ms. Kit Ka has been brought in as President and Secretary of the Company on the same day. She has a two year contract and her annual salary has been fixed at $1. Ms Ka resume describes her as a career executive who has held multiple senior management positions in the telecommunications industry. She has also dabbled in the red hot China property market and coal mining.
CAM Group was previously known as RT Technologies. It has been in operation since 1995. It actively seeks out target companies which it can acquire and improve its valuation. In turn makes itself attractive to a merger bid by larger companies. CAM Group is open to pursue business in any industry or geography. The company has a market cap of $26.5 million with close to 25.3 million outstanding shares.