Asia Entertainment (NASDAQ:AERL)

Hello Matt,

So far my experience with the China SPAC deals has been pretty good.  I haven’t seen many serious warrant amendments.  The U.S. SPACS are where I have seen warrant amendments occur with regularity and kill warrant arbitrage opportunities.  Regardless, the leverage afforded by the warrants forces me to take a position in many of these deals even in circumstances where the chance for a business combination is slim, especially when a LOI has been reached or a vote date is set.

Another warrant that has set a vote date is CIO. http://geoinvesting.com/companies/cio_asia_special_si_acquisition_co/research

I own some, but think it’s a low probability pass. This is the third deal it is working on and seems like a mess. But, if by some miracle they pass it the warrants would be worth ~$2.50.

 I also own HMAWF which offers some nice upside if deal is reached. http://geoinvesting.com/companies/hmaqf_hambrecht_asia_acquisition/research

CFQWF looks interesting, but the leverage opportunity is not as great as others.

Other “Asian” SPACS:

CHHM- Liquidated but still trades, so not sure what is going on here.
BBVVF- No news since 7/31/09 http://geoinvesting.com/companies/bbvvf_bbv_vietnam_sea_acquisition_co/news&action=showNews

NHR- No deal announced yet, but CEO has recently purchased some stock.

Recently liquidated Asian SPACS:

STTA
SHA

Go to this link on Geo (http://geoinvesting.com/stock_shells/spacs_blank_checks.aspx) to see my full list of SPACS. I don’t have research on most of them as the DD task on these plays take a while.  You may already know this, but at the very least, when doing your homework you need to go their filings and search for “warrant amendment” and when the SPAC expires.

Maj, The GeoTeam