I alerted UCHC to my subscribers at $.0005 yesterday after the company issued news, noting that the stock had fallen dramatically and was due for a price recovery. Today the stock hit $.0016 and looks poised to continue its march higher.
The 50 DMA stands at $.0046 and with continues buying pressure we could be seeing a rally to that figure in the future. Add UCHC to your watchlist.
SHENZHEN, China, June 19, 2012 /PRNewswire via COMTEX/ -- Uni Core Holdings Corporation (OTC Bulletin Board: "UCHC"), a Hong Kong based holding Company, announced today that the management and key personnel of UCHC has noticed the recent volatility of and decline in the market price for their shares. The management and key personnel of UCHC believe that the recent decline in market price is attributable to short-selling by brokerage firms and market makers, over which UCHC has no control. The management and key personnel pointed out that UCHC continues to operate smoothly and that they will withstand the activities of the short-sellers; they also pointed out to its long-term shareholders that UCHC is committed to long-term growth. James Wu, the Chief Executive Officer of UCHC, said, "UCHC will continue to consider and make new investments and that the management is cautiously optimistic that any new investments it may make will be successful." Mr Wu further notes that UCHC will continue to make public disclosure about material business and other developments by making press releases, updating its website and filing current reports with the Securities and Exchange Commission.
About Uni Core Holdings Corporation (UCHC.OB)
Uni Core through its subsidiaries develops, manufactures and distributes environmental friendly paper and agricultural products based upon its proprietary technology and supply chains. The Company was founded in 1998 and is headquartered in Hong Kong.
APT Paper Group, a wholly owned subsidiary, headquartered in Shenzhen, Guangdong, China, was founded in November 1993. UCHC acquired 100% of APT in June 2010. Based upon proprietary technology, production, marketing and global supply chains, APT is one of the leaders of the modern environmentally friendly packing and honeycomb paper products industry in China. APT's products are produced from recycled materials and are recyclable. APT's products include honeycomb paper pallets, honeycomb paper panels, honeycomb paper cartons, honeycomb paper coffins, honeycomb paper cushions, paper slip-sheets, paper corner protectors and corrugated paper products. APT holds patents throughout the world on many of its products. Some of APT's customers include Wal-Mart, Costco, Sam's Club, Sony, Nokia, DHL, Haier, Hisense, among others.
Prosperous Agriculture, 51% of which is owned by UCHC, is headquartered in Xi'an, Shaanxi Province, China. Prosperous Agriculture manufactures and distributes agricultural brands and also establishes a national agricultural resources chain direct sales platform through the opening and acquiring of agricultural resources direct sales outlets and dealers, and by working with well-known manufacturers of agricultural products.Prosperous Agriculture integrated more than 2,000 agricultural resources.