|12969 || LLEN||17-Jan-2012 01:31 PM|
We are offering conclusive proof that LLEN does not own the Ping Yi Mine:
We offer evidence that undoubtedly proves that LLEN did not purchase the Ping Yi Mine as it has been repeatedly asserted in SEC filings.
We offer evidence that undoubtedly proves that the Ping Yi Mine is for sale by an investment group with no discernible ties to LLEN.
We reference multiple data points across several official Chinese and SEC filings that precisely match information on the SAIC filing we have pulled. We argue this identical match is conclusive proof that we have not misidentified the Ping Yi Mine.
One of our pieces of evidence includes an official government document published in a public news periodical that supports our conclusion that LLEN does not own the Ping Yi Mine. We spoke to the person representing the investment group selling the Ping Yi mine who repeatedly denies that LLEN ever purchased the mine.
Directly check the current basic information regarding the Ping Yi Mine yourself with only a click. The investor can directly go to the Guizhou Province SAIC Office http://old.gzaic.org.cn/service/index_qyinfo.html to check the current status of the Ping Yi Mine. After typing the full name of Ping Yi Mine and security code, you can see that the current legal representative is Mr. Hu Shiwei, who is not affiliated with LLEN, and the current business license number is 5200002932260.
As previously stated in our original report, and even more so after further due diligence, we believe that LLEN shares are not investable and pose an extreme risk to long investors.
We also take note of LLEN's two press releases this morning:
In the face of on the record, detailed accusations from researchers responsible for discovering a series of massive governance frauds at the like of YUII and PUDA, a press release promising a looming 25% revenue increase via expanded sales and marketing joint agreements should be seen as an attempt to distract investors from the grave matters at hand.
Similarly, as we continue to demonstrate, there is a large amount of conclusive documentary evidence from official sources that LLEN utterly ignores. Instead, its management appears unconcerned that someone is advertising one of their key assets for sale. In sum, we are being asked to trust their legal team and Auditor, Kabani and Co, a firm that has been involved in many of the most dubious reverse merger audits. We respectfully decline to give them our trust.
These evasions and tactics should be abundantly familiar to the burned investors of dozens of Chinese reverse mergers and bodes ill for the value of their capital.
Any long or short LLEN investor should read every page of the following report thoroughly.
See all the evidence!
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|9834 || SCEI||28-Apr-2011 12:54 PM|
Below is our original SCEI report that was available to our Premium Members on April 26, 2011.
|14660 || NHTC||27-Nov-2013 01:35 PM|
13D filed on 11/26/2013 for Natural Health Trends (OOTC:NHTC)
Purpose of transaction:
Mr. Broady and the Trust acquired the Shares for investment purposes. Neither Mr. Broady nor the Trust have any plans or proposals with respect to any of the matters set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D; provided, that Mr. Broady has served on the board of directors of the Issuer since October 17, 2008. Based on various factors such as current or anticipated trading prices for the Shares, market and industry conditions, the financial and operating condition of the Issuer, and the composition of the Issuer’s board of directors, Mr. Broady and/or the Trust may acquire additional Shares or sell all or part of their Shares, in their sole discretion, in open market or private transactions without any prior notice to the Issuer. In connection with serving on the board of directors, Mr. Broady also regularly communicates with and makes suggestions to the Issuer’s officers, other directors and other shareholders with respect to the Issuer, including matters involving the Issuer’s operations, policies, management and board of directors composition.
Mr. Broady is deemed to beneficially own 3,615,737 Shares. Of the 3,615,737 Shares reported in this Item 5(a): (i) 3,376,934 Shares are held directly by Mr. Broady, (ii) 61,693 Shares are issuable to Mr. Broady upon conversation of Series A Convertible Preferred Stock, (iii) 177,110 Shares are held by the Trust, of which Mr. Broady is the trustee and a beneficiary.
|14659 || GOMO, WBAI||27-Nov-2013 11:18 AM|
500. Com Ltd (NYSE:WBAI) and Sungy Mobile Ltd Adr (NASDAQ:GOMO) are two ChinaHybrid IPO’s set to begin trading tomorrow, 11/22/2013.
WBAI is a leading online sports lottery service provider in China. The stock’s price is currently set between $11.00 to $13.00, after having been raised from the previous offer of $9.00 to $11.00. Link to prospectus.
GOMO is a leading provider of mobile internet products and services globally, with a focus on applications and mobile platform development. GOMO’s price range is $9.50 to $11.50. Link to prospectus.
We will have more details on each company's capital structure and financials shortly.
|14621 || ||05-Nov-2013 10:16 PM|
I've never seen anything like it in my life. Just tons of lemmings that are throwing their life savings into the stock while the CEO keeps raising the A/S so he can continue to dump millions of shares. If I ever get the time, I'd love nothing more than to hammer that ChiScam with a Seeking Alpha article.
|14620 || SIAF||05-Nov-2013 07:38 PM|
Joe, based on prior DD, we are not a fan of Sino Agro Foods (OTCCB:SIAF). Furthermore, how can we trust a team that basically said they would not dilute in one breath and then dilutes on the exhale? I think there may have been a time when SIAF had a chance, but the business they left U.S. investors with is questionable, at best.
|14619 || ||05-Nov-2013 07:03 PM|
Haha, indeed. That would be interesting. I'm most certainly not the most positive guy out there in regards to SIAF but I'm positive enough to have a small position. I think it's save to say that their business exists, there is a lot of press about it also within China. Now the margins and size in general is another thing of course. If I would be more sure, I would increase my position obviously. If Nasdaq accepts their application, this one could have a massive rally once uplisted. Afterall the uplisted china stocks out there are trading between two and six times earnings and don't have the growth SIAF has. But the question is will they get accepted or not?
|14618 || ||05-Nov-2013 06:49 PM|
I would LOVE to get Geo's take on the biggest OTC kool-aid China stock there ever was ...... SIAF. Thoughts about dilution on a massive scale, yet investors continue to buy the stock, many mortgaging their homes to do it.
|14617 || ||05-Nov-2013 06:46 PM|
LOL, as I was thinking the same thing. I suspect Piper had their clients bail out while recommending the stock. Now that they're out, they suspend coverage. I'm hoping the SEC initiates their own investigation.
|14611 || ||05-Nov-2013 01:15 PM|
From what I read, NQ said this percentage market share didn't come from them in the first place.
PS: Maj, I will write you an email now to the support adress, can you please change my email adress where I get the alerts?? TIA
|14610 || NQ||05-Nov-2013 01:02 PM|
Here is the key to prove Nq Mobile (NYSE:NQ) is lyng as far as i'm concerned:
Although Piper's DD about NQ’s market share of 11% diverges from Muddy Waters 1.5% claim,it’s still meaningfully lower than NQ claim of 55%.
I don't understand how Piper still had a buy on NQ after their DD materially differed from NQ market share claim.
|14609 || ||05-Nov-2013 12:49 PM|
Interesting story for sure. I'm undecided what to think to be honest. I have no position in it now because I wouldn't really know what to bet at this point in time. The first replies from NQ and the CC did impress me. I thought that they are legit, I'm not that sure anymore.
|14608 || ||05-Nov-2013 11:39 AM|
I saw that and I've been pretty negative on NQ since watching Omar Khan's Fox Business Network interview where he didn't know the top 5 cities of usage in China.
|14607 || NQ||05-Nov-2013 11:25 AM|
Joe , Traderfan, Piper suspends rating on Nq Mobile (NYSE:NQ)
|14536 || BEST, CNTF, CNYD, HPJ, LAS||18-Oct-2013 10:18 AM|
Since 2010, our due diligence (DD) process led us to vet the operations of U.S. listed Chinese companies (ChinaHybrids) in order to determine which ones may be committing acts of fraud and which ones that we feel may possess less of a risk. Over this period we have developed a deep internal database of both low and high quality ChinaHybrids. Our goal has always been to clean the space the up, paving the way for the better companies to shine.
While we believe that a good deal of ChinaHybrids are still misrepresenting the operations to investors, we are comfortable suggesting some ChinaHybrid exposure to companies that we feel offer relatively low fraud risk. Over the past couple years, the ChinaHybrid space has tried to regain its momentum, but rallies have been short lived. It now seems that with the eradication of numerous fraudulent companies from the major stock exchanges, coupled with a brighter outlook for the Chinese economy, investors have begun to feel a little more at ease about the prospect of entering the space - a process that helps sustain any such rally.
GeoInvesting members need to realize that negative DD on a ChinaHybrid can occur at any stage of the vetting process, which may cause us to immediately reverse a bullish opinion on company or the entire space. Investors should also be aware that the lack of punitive actions taken against ChinaHybrid management teams and their fee collectors may actually encourage some management teams to engage in future fraudulent behavior.
We will be compiling short list of our “best guess” ChinaHybrids. The first step in our process will be to evaluate the legitimacy of a company, not necessarily its growth prospects. In the meantime, please see our Selected China-Hybrid Open Long Positions Screen to see what stocks we are trading.
We have positions in: Lentuo Intl (NYSE:LAS), Ossen Innovation Co (NASDAQ:OSN), Tri-Tech (NASDAQ:TRIT), China Yida Holding Co (NASDAQ:CNYD), Highpower Intl (NASDAQ:HPJ), Shiner Intl (OOTC:BEST), China Techfaith Wireless (NASDAQ:CNTF), and Tianli Agritech (NASDAQ:OINK).
|14486 || BONA, CNIT, JADE||30-Sep-2013 11:12 AM|
Fosun International, a leading, large-scale group with a focus on China's growth momentum in areas such as insurance, industrial operations, property development, investment and asset management has taken a stake in Bona Film Group (NASDAQ:BONA). Fosun has had recent investments in Lj Intl (NASDAQ:JADE), China Information (NASDAQ:CNIT) and $PWRD, Jade was acquired and PWRD shares are up almost 100% from Fousn initial investment.
|14470 || FU||26-Sep-2013 02:55 PM|
Dilution alert: Fab Universal (AMEX:FU) share count could double to 40 million shares in the very near future, according to our research.
|14466 || ||25-Sep-2013 10:16 AM|
Late in the afternoon during yesterday’s trading session, we sent members an email stating that, “We have used the increase in LLEN shares as an opportunity to short more stock. Today’s (9/24/2013) LLEN press release inaccurately addresses one of our allegations and altogether fails to comment on any other points, like Hong Xing.”
After taking a more thorough look at the release, we have begun to identify certain inconsistencies. Here is a quote from the press release:
“In the company's SEC Form 10-K report for the year ended July 31, 2013, the company clearly states that it acquired the mines by purchasing equity interests in Union Energy subsidiaries.”
Since the company specifically uses the words “clearly states” and also italicized the word “subsidiaries”, we assumed it would be simple to locate the phrase, “...it acquired the mines by purchasing equity interests in Union Energy subsidiaries.” On the contrary, our team was unable to find this phrase or any reference to LLEN having purchased any equity interest in “Union Energy subsidiaries.” Furthermore, the company also stated the following:
“The Company completed the acquisition by obtaining a 95% equity interest in two entities, "Guizhou Union Energy Shun Da Inventory and Transport Corporation", the owner of LuoZhou Coal Mine and "Guizhou Union Energy WuZhou Energy Development Corporation", the owner of LaShu Coal mine.”
Again, we were unable to locate one reference to “Guizhou Union Energy Shun Da Inventory and Transport Corporation" and/or "Guizhou Union Energy WuZhou Energy Development Corporation.”
We find it difficult to believe that Dixon Lee would make a public statement that appears to contain such blatant misrepresentations right after we just questioned the integrity of the company.
Finally, the company has not publicly disclosed any of the contracts that support its claims regarding its purchase of the LuoZhou and LaShu Coal mine.
In general, our team, in all its years of research, has never seen a company with such poor disclosures as LLEN.
|14464 || LLEN||24-Sep-2013 03:49 PM|
We have used the increase in L & L Energy (NASDAQ:LLEN) shares as an opportunity to short more stock. The LLEN press release inaccurately addresses one of our allegations and altogether fails to comment on any of our other points, like HongXing.
|14454 || KNDI||19-Sep-2013 09:19 AM|
|14435 || BEST||09-Sep-2013 12:56 PM|
On 8/15/2013, we disclosed that we were long Shiner Intl (OOTC:BEST) at $0.25. Today, we added to our position due positive second quarter 2013 financial results and the recent broad surge of ChinaHybrid stocks. Currently, we have not performed any due diligence on the company.
|14415 || ||27-Aug-2013 06:08 PM|
I sold ZA at $2.09 today from $2.00, as Soroban Capital made it known yesterday that they're shorting the stock. Lots of buying coming in, but the stock doesn't move. I don't care to fight those that are shorting, so I bailed with tiny profit. Thanks for the reply.
|14413 || ||27-Aug-2013 10:26 AM|
FYI, Joe, We are not excited about ZA. But does not mean it can't pump.
|14412 || FFHL||27-Aug-2013 09:43 AM|
Originally posted on our "Ask Bob" message board on 8/26/2013
On Aug 14, 2013, Fuwei Films Co (NASDAQ:FFHL) made an announcement claiming that its controlling shareholder will try to sell its shares for $5.16 at a public auction. The details are as follows:
BEIJING, Aug. 14, 2013 /PRNewswire/ -- Fuwei Films (Holdings) Co., Ltd. (NASDAQ: FFHL, "Fuwei Films" or the "Company") announced today that it has received a notice from its controlling shareholder, the Weifang State-owned Assets Operation Administration Company, a wholly-owned subsidiary of Weifang State-owned Asset Management and Supervision Committee (collectively, the "Administration Company") indicating that the Administration Company has determined to place control over 6,912,503 (or 52.9%) of its outstanding ordinary shares up for sale at a public auction to be held in The People's Republic of China ("PRC").
"These shares are currently held indirectly through an intermediate holding company, Apex Glory Holdings Limited ("Apex Glory"), all of whose shares are the subject of the public auction, and the indicative target price for the first auction is RMB218,746,600 (approximately US$35.7 million) or approximately US$5.16 per ordinary share of Fuwei Films held by Apex Glory. The auction regarding Apex Glory is to be held on August 27, 2013 and will be run by Shandong Jialian Auction Co., Ltd. and Shandong Outstanding Auction Co., Ltd."
However, as of the time of the publication of this article, this scheduled auction never happened at private auction house and has expired. No entity bid for FFHL’s shares, even with a lower price than the target price.
More on this story later. We are short FFHL.
|14406 || ||23-Aug-2013 10:44 AM|
Call me crazy, but I'm in this morning at $2.00, as the ttm EPS is $1.54, the float is less than 7 million shares and they have $180 million in cash.
|14401 || TBOW||22-Aug-2013 08:33 AM|
Never in my many years of trading have I seen a company commit such an egregious act of fraud by claiming a certain set of numbers in the NT-10Q and then file their 10Q with numbers that are totally different. In the NT-10Q, they said revenues would increase by 97% YOY and that gross profit would increase by 48% YOY. Meanwhile, the actual revenues increased by 5% and the gross profit actually decreased by almost 50%. You should have heard their answer to this in the CC. Sorry folks, but there's not only NO buyout offer, but this company is a full-blown scam, period.