In my opinion, investors should mostly ignore the hype around “cloud” computing.
There are different definitions of so-called “cloud” computing. In a literal sense, cloud computing refers to computers attached to a network. Such technology has been around since the 1960s. The current interest in cloud computing largely has to do with the pervasiveness of fast Internet connections. “Cloud” software can be thought of as “software that requires a fast Internet connection”. The widespread adoption of broadband Internet allows certain forms of cloud technology to become more viable. For example, backing up large amounts of data over an Internet connection now makes sense.
However, all software companies are largely on the same footing when it comes to cloud computing. If cloud computing makes sense for a particular market segment, anybody can (re-)design their applications to take advantage of fast Internet connections. Software has always been an arms race between competitors improving their product with new features. Cloud computing is simply part of that arms race. Personally, I don’t see cloud computing as being a paradigm shift like the Internet was.
EVK’s English/investor website is at everglorygroup.com. The site’s domain registration shows the Registrant Organization as “JIANGSU EVER-GLORY INTERNATIONAL GROUP CORPORATION” and “JiangSu Ever-glory Group Co., Ltd.”.
According to EVK’s 10-K, this does not seem to correspond to any of EVK’s subsidiaries or the parent company (see the subsidiary diagram in the 10-K).
It does seem to correspond to Jiangsu Ever-Glory International Group Corporation (“Jiangsu Ever-Glory”) [emphasis mine]. The 10-K describes this related-party entity as follows:
Jiangsu Ever-Glory International Group Corporation (“Jiangsu Ever-Glory”)
Jiangsu Ever-Glory is an entity engaged in importing/exporting, apparel-manufacture, real-estate development, car sales and other activities. Jiangsu Ever-Glory is controlled by Mr. Kang.
This is a little strange. Normally companies put their own information in their own domain registrations. (To be fair, you can put in whatever you want for a domain registration. One benefit of accurate domain registration information is that following ICANN rules can help companies in ownership and trademark disputes over a domain name.)