(He clena-outta the fees-a...)
Case Description: CV14-00484 - KENNETH RECKER, ET VS SINO CLENA ENERGY, INC
Second Judicial District Court, Washoe County, Nevada
07-Jan-2016: ORDER DENYING MOTION TO HOLD SCEI CHAIRMAN BAOWEN REN IN CONTEMPT OF COURT'S RECEIVER ORDERS, WITH LEAVE TO RESUBMIT - Transaction 5309402
30-Dec-2015: STATUS REPORT REGARDING THE RECEIVERSHIP'S ACTIVITIES BETWEEN MARCH 1, 2015 AND SEPT 30, 2015 AND TO SEEK APPROVAL OF THE FEES AND EXPENSES OF THE RECEIVER AND HIS PROFESSIONALS FROM MARCH 1, 2015 TO SEPT 30, 2015
The only way a fraudulent company gets brought public is through fatuous glitz and glamour defeated United States law. You seem to think that is a normality.
Such an interesting question to ask on an investors message board.
I definitely think you are right that many Americans have lost their savings due to my glitz and glamour attitude. Your insight serves you well.
That said, Some people might suggest that real companies don't do business the way Sino has done business. It appears that this entire sham company was set up by Ren and his cronies to defraud American investors. Its just hard to see for sure because of all the bling I've accumulated due to my glitz and glamour.
Why would I think it wasn't a real company. Some Americans work hard for their savings lost to that glitz and glamour attitude of yours alsense.
Ah...you've missed one key point. Balance sheets are only for real companies. Why would you think there is a balance sheet?
Do you have a link to that press release? Does Seiden have a telephone number? I would like to give him a call. If Ren sold "Shares" to Hong Kong investors then those Hong Kong Investors would have it on a Hong Kong Exchange. Unless it was legal manipulation. Sold the company into a trust where he was actually the owner? If he sold shares then the money he received for them would be on a Sino balance sheet. I think China owes the United States every single once of Gold that they have!
How do you know he sold shares to Hong Kong based investors? Are the shares listed in Hong Kong? If so there should be a translation figure to U.S. shares. Where is our United States Government to protect from being financially Shanghai'ed. Looks like Barrack, Bush, Clinton and Reagan sold us out. And the Clintons made $35 million from speeches that they gave to Wall Street that are critical of Wall Street. We just learned how the two faced operate don't we! Make money be seeming like you are supportive of the American People when the exact opposite is true! That is a snake!
Baowen Ren sold shares to Hong Kong based investors. It is safe to say that Seiden's efforts have apparently #$%$ Ren off so much that he has moved past simple dereliction and all the way to a declaration of war on scei shareholders.
Something may be operating somewhere, but it's anyone's guess as to who currently owns it or as to how completely Ren has devalued the assets.
If fraud, which American Investors profited from the Downside were also participant in constructing that fraud! They need to be prosecuted and have their personal assets confiscated. You can't profit to that degree in a short sell unless you were a constructive participant in creating the fraud from DAY 1.
Are they in business? Are they paying employees to do work? Who is writing those checks? What are there current assets and liabilities? If not what happened to the money and what are the residuals? Who is managing the day to day operations? If that group supposed to be for the rights of the shareholders can't tell us that they are just as bad as the rest of them! Does it have revenues exceeding costs? If so what is that number?
I owned shares in a unlisted corporation before. They all real shares and although I couldn't sell them on any exchange they still had value and voting rights. I guess you can argue that the shares were never listed in the first place so perhaps that is different but I still would not declare them a total loss unless you give them to your brokerage. But do what you want.
The shares are worthless whether in your account or somewhere else. They are delisted. They do not exist in any meaningful way, they are not attached to any company. IF, and its a BIG if, the receiver gets money from the company "he controls" and he is able to determine who the shareholders were, he should transfer the funds. But since there are no shareholders anymore, who knows. I would hope the Judge in Nevada would order the funds returned to shareholders as of "some date" as determined by the court. JMHO