For what its worth, I just sent a message to the company asking when the quarterly results will be posted, as I told them I expected those results to have been posted as of June 23, 2015, and so far, nothing.
Let's see what they say in response. Question for the board: could the delay and the utter silence have anything to do with the health of the CEO? Could it be that he is very ill, and as a result, no business will be transacted out of respect for his situation? I'm thinking this may be the way things are done in China, but I really have no idea. Any thoughts?
Hard not to be impressed with what these guys have been able to accomplish this year, just keep finding the best opportunities from across the markets and delivering insightful reports packed with details about their featured company and their industry.
I finally got fully out as well although, took a hit unfortunately selling on it's most recent drop down from low 6s to upper 3 s.. (I got out around 5.2 for the most part). I had high hopes as well but couldn't stand owning a company with zero communication (I realize that's all too common with this types of stocks), amateur conference calls, little to no inst backing, no analyst coverage, and very little ability to research. Just too much negativity going on here. This is weird though.. no quarterly filing?? I don't have time to day trade bounces on this stock which I'm guessing anyone still in must be doing.. Not an investable company anymore.
This stock is approaching the point where it will be done. In other words, they have now missed an important quarterly filing deadline with the SEC. This, coupled with the lack of any communication by the company on the Q results as well as the mess brought on by the impending lawsuits will eventually sink this stock.
It's sad, as I have been a "long" investor in JRJC for awhile, but hit the road so to speak when they had their last earnings release. This could have been a success of a company from a US stock standpoint, but they have chosen to go down another path - one of poor communication and some would say, downright deception.
Best of luck to any of you who are still in. I will watch from the sidelines. I suspect it will drop to sub 3 levels within the next few months, maybe sooner.
Again, a sad story...but it is what it is.
one item to be voted on is the approval for additional fund raising through most likely additional shares. JRJC has 112M share float. They applied for 30M more shares in Aug 2014 for bonuses which they hand out yearly to management and directors. Now they are going to get approval for more shares to raise money, Chairman Zhao has 28% of the shares now.
5. To authorize our board of directors to exercise all the powers of the Company (a) to allot, issue or deal with additional (1) ordinary shares or (2) preference shares upon such terms and conditions as the board of directors, in its discretion, shall determine during the period from the passing of an ordinary resolution for this proposal until the earliest of: (x) the conclusion of the next annual general meeting of the Company; (y) the expiry of the period within which the next annual general meeting of the Company is required by the Amended and Restated Articles of Association or the Hong Kong Companies Ordinance to be held; and (z) any revocation or variation of the authority given to the board of directors under this ordinary resolution by an ordinary resolution of the Company’s shareholders in an extraordinary general meeting of the shareholders (“Relevant Period”); and (b) to make or grant offers, agreements and options which might require the exercise of such powers during and after the end of the Relevant Period.
CHINA FINANCE ONLINE CO. LIMITED
NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS
Notice is hereby given that an Annual General Meeting of Shareholders, or the Meeting, of China Finance Online Co. Limited, or the Company, will be held on June 30, 2015 at 10:00 a.m., Beijing time, at the offices of the Company, 9 th Floor of Tower C, Corporate Square, No. 35 Financial Street, Xicheng District, Beijing, 100033, China, for the following purposes:
Despite the lawsuits, the "Short" letter, and today's selloff, this stock is holding it's own. You know something must be up and that is going to be the Quarterly report....
Been very impressed with the results that have come from the reports these guys deliver, keep seeing solid gains and big wins.
What can we expect to see next from JRJC, well ExplosiveOTC is following their developments and those of a handful of potential blockbusters, find out who the next breakout star will be and when you sign up you'll receive an incredible ebook- just enter the code JRJC.
can you please post the links to these lawsuits and other relevant information? thanks
Read the lawsuit(s). There are no exceptions for Chinese companies.
JRJC failed to report that CEO Zhao resigned from the only three divisions
on three separate days in April but JRJC never disclosed it. I think
the fourth and only other division will be folded.
It also appears that CEO Zhao took private positions in targeted buyout companies before purchased
by JRJC, and then written off by JRJC. It also appears that one
acquisition turned out to be worthless and $20M in debt, forcing a director to resign,
and is the most likely reason the old time financial auditing company quit.
I do not think JRJC will follow any more NASDAQ/NYSE requirements or
spend the money to fight the lawsuit. I do not think the CEO is ill,
I think he is "detained". It also appears that Zhao ran the company
at his will, and no one left seems to know what to do.
I think Great Wall Securities will buy out the JRJ website, and maybe
the trading platform if it actually works (I have my doubts).
I do not think its the "ambulance chasers" will bring JRJC down,
its the Chinese government who brings JRJC down. It's the Chinese government who started it, and JRJC
has kept totally mum about that too, and still does. Not when you are publicly owned. Now its leaking out,
and its going to be a field day for violations.
I don't think the lawsuits will be successful because I think JRJC will refuse
to comply with SEC guidelines and be removed from NASDAQ/NYSE. Lawsuit over.
And Great Wall Securities buys the website portal and trading platform for
nothing, instead of paying another 120,000,000 share holders.
Have JRJC been beyond the dead line for filing, or maybe for Chinese companies there is an exception?
BTW, all these so called 'investigations' by ambulance chasers - is a pure noise...
Those should be investigated in a first place as a part of stock manipulation scheme.
there are no lawsuits. the law firms just looking for stupid people to help them to in-rich themselves.
investors usually get a few pennies. Your agenda is transparent... You add nothing to the discussion, but baseless bashing, shorty..
No need to response because I add you to my ignore list... bye, bye..