Insider shares would be worth $.37 also, would they not? I would think the insiders would be a little concerned about that and would want to do something about it. Of course if they sold their shares early on, then Yu no longer has an interest in the company, which probably means it is no longer in business. But it seems like it might be still in business, based on another post I read about a recent agreement with the SFDA.
With the assets being auctioned off, what is there to collect? TBET is not worth lawyer time.
Meanwhile, the buyout offer generated enough volume that insiders had the opportunity to dump their shares, finalizing the amounts they were able to collect out of the fraud. IPO cash plus undisclosed share sales is a tidy sum of money, enough to retire in China where there is no extradition treaty for financial crimes in America.
You are assuming this thing still exists and think about it. A float of 3 mil shares xs .35 cents. Lawyers in the end won't pursue this because even if they got the entire class action not worth much.
Exactly, Yu and insiders own 74% of the shares. They want to take TBET a profitable company private....
I am not sure/do not believe that the insiders are allowed to accumulate shares, after that the company decided not to meet the SEC regulatory reporting requirements (filing the form). Otherwise, they could, on purpose knowingly prevent a form from getgting filled to manipulate share prices.. If someone, is better informed than me, please enlighten us