MONT filed Form 12b-25 on March 31.
Thanks to this filing, an extension of up to 15 calendar days is available for Form 10-K. The extension period begins to run the day the report was due (March 31 in this case). No further extensions are available.
So Montage has only up to April 15 midnight to file the annual report (10K), only 2 trading days.
They haven't been able to file the audited 10K so far.
If they can't file the audited SEC 10k on time before Tuesday April 15 final deadline, then it's the end.
Montage sells low-end products
It's impossible to have record high gross margins (much higher than any competitor: RDA Microelectronics, ALi Corp, STMicroelectronics, Airoha Technology Corp, HiSilicon Tech) by selling low-end products
They are imaginary just like their main distributor LQW which is actually a 1-man company
Montage is very likely a fraud
I emailed MONT 3 times asking for LQW distributor phone number and MONT is refusing to give it to me,
you can email or call them yourselves to verify, I guess they will give you the same answer
imho. Montage may be connected politically and able to pay off to get the non-binding buyout offer just in time for lockup expiration but I am willing to bet big time that the offer won't go through. If Chinese State funds would be used for the purchase and fraud came to light, those involved could lose their lives. Just my humble opinion and, again, I am betting on it.
MONT has an absurd valuation
According to Montage itself (check the FAQ on its site)
these are MONT primary competitors in the STB set-top box market (86% of MONT revenues) :
RDA Microelectronics, ALi Corp, STMicroelectronics,
Airoha Technology Corp (not publicly traded) , HiSilicon Tech (not publicly traded).
Valuation to Price/Sales
RDA 2.0x (MONT primary STB competitor)
Ali Corp 2.0x (MONT primary STB competitor)
STM 1.0x (MONT primary STB competitor)
Pudong (PDSTI) tried to buy RDA at just 1.7x sales some months ago, it was otubid at 2.0x sales by Tsinghua and thus it didn't make another bid. It could have bid a little more, maybe 2.2x or 2.3x sales, but no, nothing.
And now after few months it wants to buy MONT at 5.1x sales ? that's very very expensive even if MONT revenues were real.
I highly doubt the Pudong offer will be executed after the due diligence is performed.
So far it is just a non-binding offer.
The Lockup Period Expiration is early next week, 03/25/2014,
On that date all the officers and directors can start selling all their shares.
If MONT main distributor LQW is fake, MONT is probably worth zero or maybe 25 cents.
If LQW is real (and I highly doubt that), MONT is still very expensive compared to peers.
I advise everyone to sell their shares while they can.
Montage wasn't a reverse merger, dude. It was a traditional IPO, underwritten by Deutsche Bank, Barclays and Stifel.
Certain judgments obtained against us by our shareholders may not be enforceable.
We are a Cayman Islands company and substantially all of our assets are located outside of the United States. A significant portion of our assets and operations are conducted in the China and substantially all of our revenue has been generated outside the United States, particularly through sales in Hong Kong. In addition, some of our current directors and officers are nationals and residents of countries other than the United States and may have a substantial portion or all of their assets outside of the United States. Substantially all of the assets of these persons are located outside the United States. As a result, it may be difficult or impossible for you to bring an action against us or against these individuals in the United States in the event that you believe that your rights have been infringed under the United States federal securities laws or otherwise. Even if you are successful in bringing an action of this kind, the laws of the Cayman Islands and of China may render you unable to enforce a judgment against our assets or the assets of our directors and officers. There is no statutory recognition in the Cayman Islands of judgments obtained in the United States, although the courts of the Cayman Islands will generally recognize and enforce a non-penal judgment of a foreign court of competent jurisdiction without retrial on the merits. Moreover, the PRC does not have treaties with the United States or many other countries providing for the reciprocal recognition and enforcement of judgment of courts. For more information regarding the relevant laws of the Cayman Islands and China, see “Enforceability of Civil Liabilities” section in this prospectus.
ENFORCEABILITY OF CIVIL LIABILITIES
Our ultimate holding company, Montage Technology Group Limited, is registered under the laws of the Cayman Islands as an exempted company with limited liability. Montage Technology Group Limit
A "non-binding offer"
Good luck with that. Chinese frauds have no shame. And their government condones it. American suckers!
Except these research firms have been right almost all of the time. Companies like this that use reverse mergers to gain access to America capital are likely frauds.
Except those shorts have been right almost every time. See Sino Clean or China Intelligent Lighting or any number of other Chinese frauds that used reverse mergers to gain access to American markets.
sell while you can at an excellent price, this will be halted by the SEC sooner or later and it won't ever reopen imo
MONT CFO "Our other distributors don't have websites either." Mark Voll is either lying or embarrassingly clueless. Here's the website for China Electronic Appliance Shenzhen Co., Ltd. ceacsz dot com dot cn
Here is the website for Qinuo International Co Ltd: qinuo dot com dot cn
LQW is MONT's only distributor without a website.
In addition to having cool websites, both businesses are also linked to extensively on Chinese business directories; LQW seems strangely absent from this thing called the Internet.
The company priced the offering at $10 per share, some 23.1% BELOW the midpoint of the preliminary offering range, less than 6 months.
And now you want me to believe there's someone who wants to buyout the company for $21.5 ?
more than twice the IPO price ?
they are desperate
This is clearly a farce, just like ANV phantom buyout by a chinese company, don't tell me you believe this news