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Yongye International, Inc. Message Board

  • delia.sherry delia.sherry Mar 25, 2013 11:38 AM Flag


    That YONG management is absolutely delighted with NASDAQ halt of trading it is the perfect device to force wholesale sale of the remaining shares when it reopens. Im trying to figure what is the downside to this for the company, not to be actively trading everyday. To them its like unplesant background noise. They have achieved their goal got the seed/startup money to start their company it is florishing after a wobbly start. Now its time to bring it back under their total control for as cheap as possible. All of a sudden the 50-100% YOY growth/net profit rate has slowed. So what is the downside to being HALTED to management?

    Sentiment: Hold

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    • On Tuesday, March 19, 2013, Yongye received a written request from NASDAQ for additional information relating to the Company's delay in filing the Form 10-K, the collection of accounts receivable as of year-end 2012, the current state of the Company's auditors' audit of the financial statements to be included in the Company's Form 10-K for the year ended December 31, 2012, and the status of the Company's proposed "going private" transaction.

      The thing that I am most interested in was the NASDQ's request "and the status of the Company's proposed "going private" transaction." This was not part of the SEC Form 10K information. Now that the NASDQ asked the question to remove the "HALT", YONG needs to answer it. Remember, their "buyout proposal" was not binding up until now. With their answer, we hopefully will be better informed.

      Sentiment: Buy

      • 2 Replies to wtd1776
      • Like you said it appears even the NASDAQ is concerned with the fairness/process of the bid for the company. The NASDAQ may be answered but if they are satified we may never know what was said to them.

      • More information is always a good path to follow. Im also involved with another Chinese RTO named FEED. It self delisted itself locking in both long and shorts about a year ago. They company work as if a private corporation answering to no one. They communicate every 3 months or so to tell company sales and for loan extensions but have not provided audited financials since 2010. I see no positive pressure being exerted by a halt. What if they want continue operation as a private company and don't want to spend the money for buyout either. The halt is the perfect tool. I mentioned a while back about the fairness of 6.60 offer and the lack of follow through by BOD, NASDAQ or the SEC but was told these agencies are not charged with providing/insuring fair bids.

        Sentiment: Hold

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