What a scam this has turned to be How does the co have 69 million yet a mark cap of 14 million? Give me a break Pure sham all over this, never again trust any Chinese stock that claims to have 6X it's market cap in cash alone Another RTO from previously know as "southern sauce" Google it,
lliangwei does have some valid points. I hired local investigators who confirmed the existence of a modern plant and the actual production of coated valves. However, the CEO did sell a lot of stock recently, there have been troubling resignations and the explanation for the plunge in sales is unusual, to say the least.
There is absolutely no way to justify this scam. Please prove me wrong, I've made dozens of attempts to contact the company between all hours of the day, I've sent dozens of emails to all people there, NOT ONCE a reply was ever made or given as well as even picking up the phone. Not once person here has ever received an email or spoken to everyone. They have the IR section with email and number yet nobody EVER there? Not one email or picking up a phone?
Let's go over the real facts here, there was a huge scam that went on a while back when this received its listing from the RTO and formerly known sham "Southern Sauce"
RED SCAM FLAGS all over this turdd
Price at history lows, co claims to have 69 million in cash yet the market cap is 14-15 million. They don't even dip in to the "69 million cash" for support to initiate a share buyback in order to have avoid the reverse split. Then you have a CEO who sells a million shares in March at 1/5th its cash value? CFO resigns David Ming, and who steps in? A 28yr old LOL, a CFO who presently holds ZERO % shares in her company??? Michael Marks resigns this week, WHY-- Audit issues ??? Last Auditor was let go due to price increase? Are they for real? Then you have Adam and his COC (voc) fund, probably the single largest and closest insider, as they were there since the beginning of this sham. They recently sold all outstanding common shares, preferred and warrants/options- EVERYTHING. You all remember the recent PUMP not too long ago? Well guess who that was = VOC dumping. Now why would they do that had there been 69 million cash, or for the fact any value here.
These people should be heavily investigated from negligence to misleading statements to god knows what else. There is absolutely nothing that smells good here, NOTHING what so ever. They can't even claim taking this over since they'd have to pay the "so called cash value' of 69 million. These people seem on the ball with milking there way though. Revs decline like crazy, they still will file and collect their hefty salaries and insider sells etc etc etc
All in my opinion, to me this company is an outright SHAM and they've costed good decent working people tens of thousands of dollars with their deceit and lies.
Stop being naive and foolish There is no cash, sure as heck not 69 million. Why do you think that VOC fund sold out, they had a large ownership, preferred and warrants as well. Had there been cash they would not have dumped this.
Chen sells a million shares in March, at 6X discount to its cash value? CFO resigns New CFO is a young no experience girl M Marks resigned Former auditor terminated For IR Grayling let go