The buyers are either Naive or Stupid to buy this Scam! Sooner, it'll be crashing as the stock will be deleted.
On May 26, 2016, China Commercial Credit, Inc. (the “Company”) entered into a Stock Purchase Agreement (the “SPA”) with certain accredited and sophisticated investor (the “Purchaser”) in connection with a private placement offering (the “Offering”) of 2,439,025 shares (“Shares”) of common stock, par value $0.001 per share, of the Company. The purchase price per share of the Offering is $0.41. The transaction contemplated in the SPA shall close upon satisfaction of certain closing condition including NASDAQ’s approval of the application for issuance of the Shares.
The Shares issued in the Offering are exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.
CLIS is one that i am watching closley right now. This stock has had some interesting developments and with all the M&A in fantasy sports CLIS could really capitalize. They make a fantasy sports analytics tool that will change the game
Wow, CEO did criminal fraud and arrested. Is it in operation yet now?
It was established by some Chinese farmers in a small town in China. It should NOT have been listed on NASDAQ, Never!
CCCR CEO is charged for criminals and had detention by government authorities:
WUJIANG, China, via ETELIGIS INC., 04/22/2015 - - China Commercial Credit, Inc. (NASDAQ: CCCR) (the "Company"), a microfinance company providing financial services to small-to-medium enterprises (SMEs), farmers and individuals in Jiangsu Province, today announced that the Listing Qualifications Staff (the "Staff") of The NASDAQ Stock Market LLC ("NASDAQ") notified the Company of its decision not to initiate delisting procedures against the Company and that the Company's common stock will resume trading on NASDAQ today, April 22, 2015.
Instead of delisting, the Staff issued a Public Reprimand Letter based on the Company's failure to make "prompt disclosure to the public" of material information related to the unauthorized transfer by its former Chief Executive Officer ("CEO"), Huichin Qin, of approximately $1.1 million from a Company bank account to his personal bank account (the "Transfer"), as well as his subsequent detention by Chinese governmental authorities.
Sooner, going to pennies and will be delisted shortly!
Criminal charges and Frauds!
he was arrested by police. The Whole company is just a POS and Scam, established by farmers.
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