Was doing some digging. For the last 1 1/2 years SPU has been stating it is selling it's juice in the US and set up a US company called Harmony MN. I found Harmony MN registered in Delaware on Jun 17th, 2009, same date mentioned in SPU press release and and subsequent SEC filings. Delaware shows Harmony MN has made no filings since then and is delinquent in it's taxes of $201 since Mar 2010. Do your own DD.
File Number: 4699835 Incorporation Date / Formation Date: 06/17/2009 (mm/dd/yyyy) Entity Name: HARMONY MN INC. Entity Kind: CORPORATION Entity Type: GENERAL Residency: DOMESTIC State: DE Status: AR DELINQUENT, TAX DUE Status Date: 03/02/2010
Last Annual Report Filed: NO REPORTS ON FILE Tax Due: $ 201.30 Annual Tax Assessment: $ 75.00 Total Authorized Shares: 3,000
REGISTERED AGENT INFORMATION
Name: NATIONAL CORPORATE RESEARCH, LTD. Address: 615 SOUTH DUPONT HWY City: DOVER County: KENT State: DE Postal Code: 19901 Phone: (302)734-1450
FILING HISTORY (Last 5 Filings) Seq Document Code Description No. of pages Filing Date (mm/dd/yyyy) Filing Time Effective Date (mm/dd/yyyy)
Admittedly I sold my long position last week; I currently have no position in SPU and I almost never short anything. The point isn't that they are delinquent $200. The point is they have done no filings at all since they established the US company in June 2009. And look at my previous posts were I listed some of their US distributors. I even felt better when I talked to one US distributor who confirmed they did indeed carry SkyPeople products. The fact that they have owed any tax for almost a year and not filed a single report (ie, estimated quarterly taxes or annual income tax) indicates they aren't paying very close attention.
I posted because I have had some good discussions with a few board members over the last year and thought I would share my concern. But you won't see me on this board anymore. Good luck and I hope this is nothing more than an oversight and all of you make lots of money.