Perhaps only in China can investors find companies engaged in online video sharing also doing brisk business in mining of minerals. A recent press release issued by China YouTV (CYTV.OB) is yet another reason why I only choose to write about China's tech world, and keep my money far away from the Middle Kingdom and its many dubious listed technology companies.

     On March 5, 2007, Admax Resources changed its name to China YouTV Corporation. I'm not joking when I relay the following from the company's release: "The company intends to participate in the fast growing video sharing web site market in China, and at the same time, to continue its exploration of mineral properties in British Columbia, Canada."

     Is somebody at China YouTV sniffing sulfur deposits?! Gao Zhenyong is the president of the company, but where's the board of directors to ensure the company stays on task? I guess in a poetic sense the two businesses are synonymous: mining of video data with bots and scripts on the one hand, and extraction of precious minerals on the other.

     No, sorry, it still doesn't make sense.

     Here's my favorite part of their press release, and it should be printed and pasted to the walls of all would-be Chinapreneurs, China consultants, trade associations, and investors:

     "If the Company finds mineralized material and it is economically feasible to remove the mineralized material, it will attempt to raise additional money through a subsequent private placement, public offering or through loans. If the Company needs additional cash and can't raise it, it will either have to suspend activities until it is able to raise the cash, or cease activities entirely. If the Company can't find any mineralized material or it is not economically feasible to remove the mineralized material, it will have to cease activities and focus on the new market: the video sharing industry in China."