I e-mailed Mr. McClellan as well and have always gotten a quick response from him. You have to figure the operating assets of his company were bought with cash and shares, so he is highly motivated to put the pressure on Mr. Fan to get the stock trading again. Those that have sold will regret it, and its times like these that actually clear the weak longs out setting the share price up for a roaring comeback. Mr. McClellan looks like he's worked on some solid projects in China, which tells me the company is branching out from water, pollution, and sewage. I believe this company will make it, and this is but a bump in the road.
...the 8-K TRIT filed reflects what you heard from Phil, also...one last note, though...I have called the TRIT USA office also, and Mr. McClellan was very prompt in responding...I have to think he wouldn't be so responsive were his paychecks not clearing the bank, so I tend to believe there is a glimmer of hope here...GL alec and all...
yes, you got it. Still waiting for the CEO to respond to my e-mail about re-listing. Since the company is not bankrupt, the shares have not been cancelled. They just have no where to trade at the moment other than on the gray market. But the gray market will not be around for much longer. The CEO assured me a couple of weeks ago that the annual report would be out in 30 days, which would put it at the end of the month. If he follows through, I'll press him to get it trading on the Pinks.
...just speaking for myself, I do find it somewhat comforting that the stock price has held up to some extent and not fallen to all but nothing...other companies, such as VELTF, which have been delisted and moved to foreign status (hence the "F") have sunk to virtually nothing...I rather agree with u, alec, that this may not be so much of a product problem as a management problem.... GLTA
I'm convinced this company's problem is they don't know how to run a business under a capitalistic framework. Remember they come from communism. They just don't get how important capital is. To get capital, you have to sell shares, as most banks won't lend to small, risky businesses. If you continually need to go to the stock market to raise money for some of these projects that have an upfront cost, you have to be constantly vigilant about your stock price, ensuring it remains high by expanding your revenues and profits. I don't think the CEO gets how important maintaining the NASDAQ listing is.
yesterday? It's trading at .60 now on just a few shares. I am hanging on to mine. With 44% held by insiders, you can bet they will re-list on the pinks, then eventually NASDAQ once they have this mess cleaned up. They are still very much in business according to Brian McClellan who heads up the US subsidiary. He's completed 3 projects in China.
I've been with these scambo Chinese stocks for the 3rd time now. LOL
I guess that is my last Chinese stock trade.
Good luck all.
Retail investors cannot buy, unless it's to close out a short position. Try it. Now, I suppose the company could be buying or maybe some savvy institutional or hedge fund investors. We know there are no market makers. Who could it be? I have written the US subsidiary J&Y, and here's their response:
"The situation is still receiving much attention throughout the company. At this time, I do not have any information to share other than the company continues to operate as usual.
Where there is material progress that can be announced, Mr. Fan will surely do so."
He received stock and cash for the operating assets of his company, so I have to believe he has a vested interest in making sure the company gets re-listed, first on the pinks, then eventually on the NASDAQ. This is true of the Chinese insiders as well who own 44% of the shares. And it's important for the company to maintain a listing to expand their operations beyond China and give them the option to raise capital for this capital intensive business.
Why can't you buy? I would assume that you put in a price and number of shares and see if the order executes. Until I see more info, I wouldn't buy or sell. Unless insiders stole most of the assets it's still worth a lot more than the current price.
If all you can do is sell, ask yourself who is buying? Is it smart money or just shorts covering? I doubt it's shorts, they could just let it ride until it trades no more. Remember the company is still in business. They have a US division that has done 3 projects in China: wwwDOTjyintDOTcom/profilesDOThtm. If you talk to J&Y, he will tell you they are very much in business. If we all write Mr. Fan and press him to relist after the annual report is complete and the BSST issue is resolved, then maybe it'll have some value. I'm not selling into the grey market. I think it will turn around. The services this company provides will be needed for a long time to come in China and India.
According to my Scottrade screen, the stock has traded 84,040 shares at a price range of $0.22 to $0.50. The last trade was 6,000 shares at a price of $0.50.
yeah, saw it on mine too. 10 K shares for a quarter....Selling is not worth the effort, I think I will keep it until they find the cure for cancer :)
live and learn.
AMTD now allows sell orders. It was only blocked for about an hour into the trading, probably someone needed to update some settings to allow trading manually.
But this is Grey market, so you can't see ask/bid quotes.
It will just trade blindly to traders.
as I understand the Chop Laws in China ....
someone else did not ....... or did
the "Grey" market is getting a few friends out ..........
we got our heads chopped off ...... If you have not written this down to zero ....
live and learn .... no one told me about the Chop rules in China ...... and now I know ....
but what about India and what about the huge mining operations in Africa .... as VALE ....
all for now
Good luck trying to sell. TDAmeritrade won't allow it. Let us know if you truely can sell with your broker.
Sentiment: Strong Sell
TDAmeritrade won't allow any sales due to suspension however. What gives?
Sentiment: Strong Sell