Shorts are backed up by about 100 hedge fund managers. Sino-Forest has filed a 4 BILLION Dollars law suit against these shorts. Thanks, Sino-Forest and tmkay.
There is no way to fight these shorts and the 100 hedge fund managers. I believe that after bringing the share price down to the lowest possible level, these shorts will become LONG. They know there is a lot of money to be made after becoming LONG on Chinese ADR's. These hedge fund managers know where the money is.
Thanks again, tmkay and Sino-forest.
Not because I saw a picture of the CEO!
I spun the roulette wheel on WKBT because their cash has been verified and they have great earnings which seem to be verified by the taxes they pay.
I certainly didn't put much of my money into it, just a little gambling money I made off of AHHAP.PK.
I think that Wang is going to attempt to get a listing on a major exchange in the future, if so, he will work to get the price up before the listing.
If I'm right, then the stock will be worth much more than the 50 cents I've paid.
As long as they have good earnings reports and no insiders dump, I'll stay with them.
If they come out with another stinker, as they did last year; I'll sell - as I did then. Too bad I only sold half back then, or I'd be in the money now.
Of course I could lose most everything. They could be as bad as LTUS or CSKI.
That's why my bet is small.
And I didn't "invest" - I am gambling plain and simple.
My only holdings I consider investments are MWE and NGLS which I bought during the crash and are paying me over 25% in distributions per year on my initial investment.
You invested based on a picture?
Grow up Tmkay...
Look at your investment in ZSTN and learn from it!
"Those who don't learn from the past are bound to repeat it."
You and RPhilipp on the LTUS board should get together.
You both live in a dream world and are completely out of touch with this one.
You are absolutely right, especially concerning the Chairman Jhong Bo. I have seen his picture, he is a proud man. Started ZSTN as an entepreneur. Presented several awards by organizations in Henan Provence. He has a Masters in Business Administration.
Its difficult to consider the CEO as anything but having pride in his business.
If this is true, then there was an altercation between BDO and ZSTN, bad blood. Investors are forgetting that BDO already signed off on a 2010 annual filing and all filings till Dec 20 where BDO signed off on the cash balance.
All this doesnt matter if investors sell off their positions when ZSTN is taken off of hold status. I wish the company would put out a notice about their current status and answer questions posed to them about BDO.
I have highest order of respect for tmkay. We are jumping on conclusions. Nothing has been proven against ZSTN.
There are huge cultural differences. In some cultures, honor is more important than money, particularly among the older generation. I believe, China has such a culture.
Chinafan22: Sino forest was brought down by the Canadian government when Canada disclosed that the acreage owned by Sino was only a fraction of what Sino claimed. Sinos lawsuit is without merit an will be dismissed.
Regarding ZSTN shorts, I am thankful as they will be the only buyers when ZSTN resumes trading.
Unfortunately they are only 10% of the float.
Using ABAT.PK as a model, I expect ZSTN to open around $1, surge to around $2, then dive to $.50 on the first day of trading.
As TMKAY has pointed out, there is no solid proof (yet) that ZSTN has done anything wrong, and this is a motiving factor for the shorts to cover their position.
Unfortunately I was victimized by a scam using a coin operated electronic device. The FTC eventually shut them down and the President was put on FTC probation, but nothing further. The President kept all of his money.
In ZSTNs case, the FTC has no authority as the fraud was committed in China.
another duma$$ maybe we should beat you with a stick along with tmkay
okay please stay long and buy more after it opens , then let me know you average price and total shares tomorrow , I will get back to you in 3 month when this junk drops to 5 cent
now I got to charge you 750$ for my time.
Many of the Chinese stocks are selling at 10% of the book value. In China, punishment for fraud is very severe. Therefore, I don't think that Chinese companies are outright fraud.
You would really be helping us if you could tell us when your boss would go LONG. He knows there is a gold mine there.