Ive read all your posts here about ZZSTNs current situation and want to point out some important facts (which I always do)--
Look at order, very important
#1--BDO resigns as auditor due to a disagreement. ZSTN tries to mend relationship but it doesnt work (See 8-K filing).
#2--ZSTN immediately posts a message saying they are seeking a new auditor to file their annual 10-K filing.
#3--ZSTN has been working with Nasdaq since end of last year. Either ZSTN or BDO notifies Nasdaq about BDOs resignation and Nasdaq puts the stock on HOLD to protect investors.
#4--ZSTN voluntarily delists knowing they cant make the 10-K annual filing date. Being forced to do so might show they are trying to hide something and be fraudulent. They show transparency but know they will be hiring a new auditor soon and filing their 10-K anyway.
#5--There is a 10 day holding period--see the 8-K filing. I dont know who set up this 10-day period but investors know well in advance ZSTN will delist voluntarily and the stock will be trading in 10 days.
#6--The stock opens up on the pink sheets 10 days after the holding period as promised.
If investors see all these events as they happen I believe this was the best way the company handled the situation. If they can "fix" their problem by hiring a new auditor and show they are transparent and pass the auditors annual 10-K audit and present their fundamentals with good revenues and sales, the stock will reflect their position in time and everything will be OK. IMO
Postscript: MIZESAW can you bash the stock without makeing
constant references to a certain individual?
PERSONAL ATTACKS HAVE NO PLACE ON THIS BULLINTIN BOARD.
If you persist I will request YAHOO to remove you from this
Not worth the risk. The only Chinese stock that I own is XIN.
They went public, have an American auditing firm, an American is their CFO, and they pay a quarterly dividend.
I hope you do make your money back tmkay. Good luck!!!
So, if you are simply being "informative" ... why did you leave out important SEC reports such as the SG 13 reports showing that insiders and funds with inside information dumped prior to the delisting?
You say that you bought above $10 and the stock is now trading for 90% less. So why should anyone take your advice?
You ask why people should take my advice? Ask them.
The stock is still worth at least its book value over $8 and intrinsic value of $14. I did not buy and hold too high.
The stock will reflect its true value in time.
Institutions and mutual funds dumped as the stock was dropping, not due to the delisting since they didnt know it was going to be delisted.
Youre wrong as no insiders sold that I know of. Jhong Bo and Henry Ngan didnt sell and these are the 2 major insiders listed. All others are institutions and mutual funds.
Since the institutions and mutual funds didnt sell due to the stock being put on hold and delisting, this point is not relevant and was in the past.