Yong has been halted for six weeks now. Not exactly what you'd expect for just some simple little accounting snag. Surely Yong's management has given Nasdaq everything they have and since the halt continues It's not looking good for Yong longs. But relief is on the way. Yong will soon be trading again ON PINK SHEETS.
Yong has followed the same script as many before them have. The beginning of the end starts with a high amount of receivables. Then suddenly management announces a large portion of those have been collected giving everyone a big sigh of relief. Next comes a proposed buy-out which boost the share price allowing insiders to get out at a higher price. Then comes the trading halt which usually lasts about 90 days before the stock finally trades again....on pink sheets. The big question now is once trading resumes do you sell out at whatever you can get or hold. My take is once trading resumes on pink sheets you're either fast or you're dead. Of course I may be wrong about all of this but at this point it does look like Yong is following the script.
I don't see your post as pouring salt in wounds. Look at CCME, which was delisted and eventually became untradeable: those who sold as soon as they could upon resumption of trading after delisating, lost the least amount of money. becasue CCME shares kept falling until they were basically worthless
but that of course is worst case scenario, and i do not know the details as I have been out of YONG for quite some time, just stopped by because I was curious about the halt
anyways hope this turns into the buyout indicated - GLTA- but doesn't hurt to have a plan for all contingencies
robin, as harrypeeter pointed out to you last week:
"If I didn’t know better I would say it almost sounds like you hope yong will go on the pinks, but that can’t be true because you’ve professed to care about us, care so much that even though you have no position you still post here because you want to save us. You’ve said that if you could just save one of us, you’re efforts would be worth it. Now I’m all confused. I thought you cared, but you try (though very lamely) to spread fear in the very people you care for. It must be similar to a responsible adult protecting his helpless, blind, #$%$ children with tough love. I guess it’s ok to care for us, but please don’t be mean to us, we’re very fragile."
Robin, Its a nice story line, but what evidence is there of insider sales. There are no filings indicating insider sales. It would be pretty for an insider to trade without filing. The SEC is all over that. You need to come up with a more realistic plot line.
Robin- this stock had some red flags which I alerted people to prior to the halt (see my post history), but at this point continual bashing (in your case) during a halt doesn't do anyone good. You are not saving anyone but simply rubbing salt in people's wounds for some reason. Anyhow, this may end up delisted, but it does not follow the same script as other RTOs that went down in flames. These items I list here are why.
1) There was a 10k sign off during the halt from Big 4 accounting Firm. Generally halts occur because 10k was not signed off or due to an SEC inquiry. Never has a 10k been signed off during a halt of an RTO, correct?
2) Financing in place for buyout. For fake or fraudulent companies, I have seen proposed buyouts, but never have they achieved financing. Correct?
3) 50 mil investment from Morgan Stanley and a director on board. The vigor that they backed this company with, declaring that they have done "extensive DD" is unprecented in the world of RTO halts. I don't believe any other halt has achieved this level of scrutiny.
We give it to you...You are right and us longs are wrong...You win...We're in the caskets, being lowered into the ground. With all that said, do you still feel a compelling need to #$%$ on our graves? Will your God tell you, you did good? Are you happy and fulfilled now????