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Lotus Pharmaceuticals, Inc. Message Board

  • Cliffvb Cliffvb May 11, 2012 8:36 PM Flag

    Lotus goes dark

    LTUS just went dark by filing a form 15, deregistering themselves from filing with the SEC.

    They waited till friday afternoon to do so. Basically saying, screw you US investors and oh yea, have a nice weekend too.

    Of course, most of us already figured out the guys were frauds although ome of us took longer than others. Personally, I hope those rotten fraudsters burn in hell.

    FORM 15


    CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

    Commission File Number: 001-32581




    LOTUS PHARMACEUTICALS, INC.

    (Exact name of registrant as specified in its charter)










    Nevada


    20-0507918

    (State or other jurisdiction of

    incorporation or organization)


    (I.R.S. Employer

    Identification No.)

    16 Cheng Zhuang Road, Feng Tai District, Beijing 100071

    People’s Republic of China

    86-10-63899868

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Well, maybe that is because they could not get enough shareholders to "contribute" enough money for them to keep them in business.

    • This was known to be coming. It isn't worth the financial strain to keep filing with the SEC. This is actually good for the long term survival potential of the company. Why pay a significant portion of the company's market cap each year to file documents? That would be stupid.

      If they can survive, they still could potentially do very well. Paying auditors puts their survival at risk. What they did was a good move considering the current circumstances. How they ended up in the current situation is another story.

      • 2 Replies to lesspheus
      • The audit was the only thing I used when deciding to invest in this POS. Maybe being in Tokyo you have the resources to hop on over to Bejing and check out their story but I don't and am even less able to after the whalloping I took in LTUS. A crime was committed here folks, one helped along by an indifferent or perhaps incompetent auditor who continued to maintain the company was solid. No mention of huge penalties or sweetheart deals, no accounting for land value shell games or hits to the bottom line we now all know too well... and now not even a PR saying they are no longer LTUS accounting firm... not only did LTUS go dark... so did Friedman!

      • A good move for who? Maybe LTUS, the company, but certainly not LTUS investors. I don't know of any chinese companies that went dark that trade for more than a few pennies. If LTUS went ahead and issued earnings reports that would be great but I rather doubt investors will be getting more PRs and earnings from the company.

        Investors got screwed here, no if, and, or buts about it, IMO. I'm surprised the stock price hasn't already dropped to a penny. I would sell at the current price, again IMO, but good luck to you if you decide to hang in there.

 
LTUS
0.0150.000(0.00%)Jul 7 9:30 AMEDT

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