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China Information Technology, Inc. Message Board

  • connor.jin connor.jin Mar 19, 2012 6:37 PM Flag

    The current situation becomes very interesting

    CEO has already accumulated 41% of all common shares, and he has $2 to repurchase less than 2m shares. That would make it more than 50% (or at least close) owned by the CEO.

    Can he then offer a going-private price slightly above the market price? He will then vote "Yes" with his 50% ownership, and steal all the shares. He will be clean, and then have another public company in Hongkong or Shenzhen.

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    • Yes, I predicted it long time ago. Mr. Lin, when the time he owns the majority of shares, he'll difinitly say bye-bye to NASDAQ, go private, then to list on Hong Kong / Shen Zhen market. What we'll get - $2 per share ??? I paid $5 before reverse !!!

    • Yea, he'll probably get that 27 million deposit for land to build headquarters released to himself after going private. I still can't get over that private transaction he made. To the public investor it would look like he spent over 1 million dollars to buy those shares, but I highly doubt it. More likely one of the original investors given free shares when the company reverse merged is now under water on the current value of his shares and the CEO gave him 20 cents on the dollar for his shares. Something we public shareholders will never know about.

 
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