LJ International has just released a significant financial comparison leading to the new year end financials. It is available through Nasdaq if you haven't received it.
It's very lenghty---you'll need a few Bloody Marys for a good analysis. First impression---interesting...shows the heavy and possibly one-time expenses in store openings....slightly positive to me....distribution improved....the real killer to eps was the deemed dividend. Need more time to really dig in. It is really detailed.
Dark. It is time to let go, unless Yu Zhen becomes the white knight. The toxic financing was the vehicle they used to buy the company for Borscht. I saw it ahead of time, but never believed they could pull it off. What a bunch of #$%$, including its Attorney Bernstein who I hope chokes on his P#$%$over matzo. Yehuda Brand. A Jewish Attorney conspiring with or even representing these #$%$ holes is despicable to me as a Jewish man. As an attorney, I never represented anyone that I thought was dishonest or even gray in it business practices. Dropped several clients that I thought were going to far, or were asking me to do something just to delay or take advantage of an adversary. Attorney's like Bernstein is why I dropped out of law in 2004, and got into the business of helping people not using them for money.
fellas, Yu Zhen and FV were not adversaries in this takeover--they were collaborators evidenced by multiple other taking private transactions---remember Yu Zhen is a sub of Foson Int. I closed out when I verified this through research and follow up legal contacts of which no firm was willing to undertake. Must say I enjoyed the board and hope all can absorb the losses and move on--bottom line was this transaction was in the works for 2-3 years--inventory alone exceeds 2 bucks a share--new report says this---575 million Chinese are middle class today, 7 years out 1.5 billion will be middle class. The shareholders of jade have simply financed LJ with stock options, etc for a number of years--SEC is impudent to the matter--wish all Chinese stocks would be banned from US markets