Wow. Five thumbs down for stating the facts. Maybe I missed their quarterly earnings for the past year, or their PR and ER conferences. Someone that's given me a thumbs down care to enlighten me?
Something you either refuse to believe, or don't understand is that the company never really was a public company in the normal sense of the word.
Let's put it this way...Without D. lee, there is no company.
The US listed entity was only a derivative of lee's personal business in China. Now that Lee has been sidelined, the company has no business at all as the purported business that they purportedly did, was all based on lee's personal agreements (deals) with his Chinese counterparties...Most of which was verbal.
A good analogy would be to have a man with a talent for buying junk and selling antiques. Occassionally this man would make a decent profit on his ventures...but only occasionally.
So you take this man's personal business, and you make it appear (fraudulently) to be a publicly owned corporation that you then sell securities to raise more capital to buy more and more junk to resell as antiques.
Then the guy dies.....and what do you have?
The answer is obvious...
You have nothing...Nothing at all..
A company operating as usual would be releasing quarterly earnings reports. The company has gone dark for a year now, no earnings, no press release, no updates on operations, nobody answering the phones, nada. Apparently it was nothing but shadows and dust.
Unlike numerous other fraudulent Chinese company that were publicly trading in US stock market, LLEN indeed has a profitable business in Chinese provinces. It seems true that the company was mismanaged by its CEO and other board members. Short sellers used this opportunity at the time there was a little trust in US listed Chinese company. Now CEO is removed. Stipulation of settlement document clearly recommended the way forward. Company is operating as usual and soon after the court hearing in June it should be relisted at NYSE.
ha, those are real people...not fake names dreamed up by a nut job to post the same stupid drivel over and over and over.
The company has a gag order on all that can contact the press. There are 2 issues as i see it.
First: The company, if it is a company, hired a bunch of high-ranking industry experts to run a ghost company, with at risk their credentials. Morons keep piling smack to this. Morons that respond have more business accoladolades than the people that spent 30 years of their lives in the business.
As last reported, the company has no requirement to continue to trade as anything.
I have 2 bets. First, Dixon Lee intends to live past his 5 year sentence, and that he has the resources to make sure it's less than horrible.
Second, I believe Dixon Lee believed he had a company, and as he stated it it earned money. This is a key point. I think several sub-thoughts on this subject. First, the company had no cash to authorize a forensic audit, and when they did, I think Dixon Lee thought they would never turn up that he had committed what we can see as obvious fraud.
So he went to jail. Great. I don't think someone running a company with intent to be successful hires a company to do a forensic audit. I think Dixon didn't think those studying the ting would find that.
So all bets are off when they found that ugly detail.
But, up to that point in time the company was trying to demonstrate that it was legit.
My bet, and I continue to pick up shares, is that my synopsis is close to right.
Round up the usual suspects as critics. A poorly educated individual would not realize that is a reference to a particularly fond quote by a policeman about the Bogey character.
The entity and not a person "barebuttbob" must have been raped often, else the comments would be more social.