If CBEH is a fruad, then why......
1) Spend money on expensive 3rd party investigation,
2) Why renew Independent Board of Directors contracts.
3) Why would the Independent Directors accept assignment.
4) Lastly, why would you begin to start posting news on your website.
This does not sound like the actions of a company that has already stole your money and no longer cares about shareholders. We have been waiting for the silence to stop and the company start to take some actions. Mediation of law suit must be close to finish and Company starting to show good faith by starting communicaiton again.
To me this is a good sign and an important sign that good things will begin to happen in the coming months.
Your post is almost exactly like the one I made on the TXIC board long ago. I like you - once had hope that such things had meaning. Now I'm beginning to believe that they only want to continue to unload stock by doing so. Here was my foolish post:
Very possible, but then why...
1.) Have a new website for investors.
2.) Make investor presentations.
3.) Waste time having the CEO write communications letters.
4.) Provide results even if they are unaudited.
5.) Keep extending the warrants.
Yes the insiders were looting the company and some have been kicked out for doing so. The company has even settled the investor lawsuit resulting from that with their insurance company picking up the costs.
You say, "I'm convinced you will never see audited financials, which would ultimately expose the company to charges of fraud and looting.." But they have already been found guilty of just that and the lawsuit has already been settled.
Tongxin may be worthless since management may just go completely dark someday. But although they are very heavy foot dragers, they havent yet. Hard to tell what is eventually going to happen here, but there is hope - however slight that might be.
Good points, except why has CBEH management continued to keep shareholders in the dark! They have withheld financial information far far too long. The only reasonable explanation is that they are a fraud and whatever reasons they have for continuing to be dark are for their own self interests! They have done nothing to enhance sharehollder confidence. If they were really a going concern then the stock would not be where it is now, someone would be buying up all they could get if the company had value!
If you were a doctor you would need patients. If you own CBEH you need patience. The mediation is still progressing according to Kent the Investor Relations contact at CBEH. I have over 52,000 shares and tmbiogen has more than triple that and is still buying occaisionally. No news or financials will be released until the conclusion of the settlement or possible buyout offer. CBEH is still actively hiring and has job postings to prove so. CBEH is selling at a small fraction of its book value. Smart investors buying now will see many multiples of the current price. Others who sit on the sidelines will kick themselves for not following their instincts and missing this golden opportunity. I believe Markshied who stated the case against CBEH is essentially without merit. Their gripe is with the hedge fund EOS greed mongers who fabricated the non existant "Alfred Little" whose hit piece on Seeking Alpha decimated our share price and caused a snowball effect of Institutional holders who were forced to sell when CBEH's share price fell to below investment grade. Lack of their participation as well as uncertainly due to the resultant lawsuit dragging on has kept the price very low. This should change dramactically in the not too distant future. Stay tuned, long and strong!
Sentiment: Strong Buy