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AGFEED INDUSTRIES Message Board

  • nazawall nazawall Jul 29, 2013 9:12 PM Flag

    Would any recovery from Chinese assets benefit all shareholders

    or just those in class action groups if there are any $$$ left

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    • Great Question... The are 2 main issues here: 1) What are the chinese assets worth and 2) Can AgFEED really sell a "Chinese" asset and keep the money in the U.S. If you look at the previous posts you are obviously going to get differing points of view. madaniels57 says because the Chinese assets are on Chinese soil, no American/american company can sell them because they don't directly "own" them.... AgFEED Industries is a holding company that holds stock in other Chinese subsidiaries the hold stock in the WSF's etc. Nutrition business etc... Given this fact, it doesn't matter what the Chinese assets are worth on paper because they cannot be directly sold... (i.e and the money distributed to FEED shareholders)... Now...understand this is what NOBODY who holds stock wants to hear!.... And as a result, quite a few people are bashing/trashing him, questioning his motives etc.... Just because you don't personally agree with somebody, or, someone tells you something you don't want to hear.... DOESN"T ALWAYS MAKE THEM WRONG!..... Unfortunately, no one else can present any meaningful proof otherwise of the chinese "ownership" concept. AgFEED is a Chinese reverse merger... if all of its assets were in just about any other country on earth EXCEPT China, this might be at different story. So it boils down to,,,can AgFEED "sell" Chinese assets and "Get the money".... According to madaniels87 the answer is absolutely NO!.. I'm highly inclined to agree with him... IF they can and he is wrong, then it might be a different story.... There is one catch though that I believe is true regardless of the Chinese sale etc. That is this: AgFEED cannot file its returns PERIOD... Whatever is left of the company after BK is going to be called on by the SEC to file returns or else... agFeed cannot/will not do this due to accounting scandels in China. Therefore the stock (ticker) will get revoked...Once revoked by the SEC nobody can sell the stock regardless of any "value"...

      • 2 Replies to ohhhhritchie
      • lixh@ymail.com lixh Jul 30, 2013 12:40 PM Flag

        i have worked as a chinese manager for 15 years in a cxhina bank. you make such stupid story and just cheat 3 year-old kids. a simple question, before feed bought m2p2, like mad he said he owned feed stock in2010,2011, does that mean he bought the stock without any value.
        and classic action will not win if the pps is over 50 cents.
        say sth and make a sense

      • Thanks for the rant. You posted " And as a result, quite a few people are bashing/trashing him, questioning his motives etc.... Just because you don't personally agree with somebody, or, someone tells you something you don't want to hear.... DOESN"T ALWAYS MAKE THEM WRONG!..."

        Well Ritchie, it doesn't make them right either. I have called his motives into question because 1. he is leading with a conclusion, ie. that the Chinese asset sales proceeds cannot/will not be distributed to shareholders; 2. he, as a disgruntled former shareholder, is taking his frustrations out on the current shareholders using fear and recrimination tactics. If he wants to express his opinion in a mature and tactful way, he might be better received on this MB. Now, to the primary point raised in your response, can a distribution from a sale of the Chinese assets be made to equity shareholders. The answer is yes. If the Chinese assets are sold and the BVI holding company (which we, as shareholders, own) receives compensation such as in the form of stock of a publicly traded company listed on a US exchange, those share would be liquid. By the logic presented by Mr. Daniels, all Chinese companies would effectively have zero value. Zero. Does that make any logical sense to you? If so, and you are still inclined to agree with his argument, fine. Sell your shares while you can still get 13 cents and move on.