MHJ is a company in HK and was listed in the States. They did a back door listing with CNR roughly 4-5 years ago at 10-1. Then CNR spun off MHJ. I contacted MHJ for the reason they did it but they wouldnt answer. Many reverse mergers in China were cams. CNR then diluted the shares y--o-y to raise money for projects. When back door listing took place, MHJ had a BV of 7$ and after the listing the new BV was 5$. Now it is 2$.
There is no reason to ever buy a share in this garbage. A real estate company in China and the shares have been diluted endlessly. They dilute to raise money and then the projects dont make any money. So they dilute again. The SP is manipulated to be around 1.20$ so they wont be delisted, which affect dilution. COme back in 5 years and the SP will be between 1 and 1.2.