I am nervous about holding long term here, that is all. If this acquisition (1) goes through and if (2) the $105M is purhasing a truly independent company then I'm comfortable being in LPH for months before the closing date. With the 10K I was pretty sure they would pass since they still have the same auditor. Since that catalyst is behind us, I am trying to decide if a hold over the medium term is risky or not because it is all based on the promised acquistion.
I thought it would be fairly easy to Baidu search Haujie but I have run into a roadblock with my DD on Haujie and their parent company, looking to get someone else with more tools and skills at DD than I have to help out here and try to provide a comfort level for holding LPH for anywhere from one month to three months on the promise of the acquisition. You have to admit that 3 months is a long time to hold anything that is an RTO.
I understand why you are completely shell-shocked, RRU2, given the hard hit you took with the CCME debacle.
However, I don't understand why Chinese companies that uplisted by the RTO process are being singled out. The RTO process has been used by numerous companies for a very long time. I have personally witnessed two such reverse-mergers up close, and both of those were solid companies wholly contained within the United States. RTO only seems to be a bad word when it is associated with "China" ... and that is also completely understandable given the amount of xenophobia running rampant in the US today.
For me, the risk for holding LPH isn't whether or not they actually exist (I believe they do), are highly profitable (I believe they are), or have competent C-level management (I believe they are). The main risk, to me, is "If they decide to screw over the stockholders, what recourse do I have since they wholly reside in a country that does not care one iota about US laws". That's it. They could simply pull up shop, take my investment, and I would not be able to do anything about it.
I honestly do not believe they would do that, which is why I have been holding, and acquiring, LPH for about two years.
Mike Toups would be a perfect person to call and ask these questions don't you agree? That's part of due diligence as well. For long term holders, your posts come across as FUD. Remember you used to crusade about FUD last year? Why do long term holders of LPH have to get that treatment? I apologize for putting up a negative post about you, but it's insulting to read the innuendo you suggest. Does that make sense?