See,"Chinese company that has been tied to fraud multiple times". Another racist bigot. I rest my case
Is LLEN "tied to fraud multiple times" too? Yet the allegations I've read don't have actual evidence associated with them, just a bunch of unsupported inflammatory conclusions. That is not actual fraud. Is that "tied to fraud?" Or does "tied to fraud" mean that some numbnut short-and-distort #$%$ used the word "fraud" and the name of the specific Chinese company in the same sentence multiple times? Or was it the grammar-challenged piatt abusing adverbs again?
The alleged "logic" here escapes me. If the price offer to take private was too low, I would have voted it down too. Imagine how you'd feel if you voted for it, got the specified amount of cash for your shares, and then see it listed on the HK exchange a few months later at 4X the value you sold. Ah ah ah you'd say, I need to make sure it "smells right" first even though you just got screwed by the short-and-distort crowd chilling the valuation of Chinese companies in search of their next victim.
This is why Carnes and his ilk need to be locked up for a long time in a Yukon prison to chill out on the frozen tundra, waiting for global warming from LLEN coal to bring some relief.
Wasn't that an offer to go private? It's not a scam on the company, it only shows the effect of Nasdaq racist policies and implementation of US shareholder value. The new motto of the Nasdaq comes straight from Pogo ("We have met the enemy and it is us"). With all of the short-and-distort numbnuts out there, US-traded Chinese companies (not LLEN because it is a US corp) are trading at absurdly low P/E's. Therefore, the companies are saying #$%$ Nasdaq, we'll simply go private and screw over US shareholders with a low-ball go-private offer." This is what YONG tried (SCR just did it successfully) and failed to achieve.
This is why uber-numbnuts like GEO and Carnes are not doing a service to society. Quite the contrary, they are doing a disservice by making Chinese companies go private and then later re-list on the HK or Taipei exchanges at more reasonable valuations. This is why it is important for LLEN to get the TDR going to circumvent the racist Nasdaq. This is also why I'm avoiding buying Nasdaq-traded companies because they are so racist that, it's not a level playing field. I prefer to buy and invest through my global account at Schwab where I trade directing on foreign exchanges and not Nasdaq listed stocks.
What's the issue here? Flagship is not an institutional investor/mutual fund. It is a #$%$-bag vulture capital fund. VC's always sell out after a portfolio company goes public. That is how VC's operate. And that is why VC's are no longer the funding source for start up biotechs. I guess I'm showing my anti-VC bias here.
Wait a minute! While I am certainly looking forward to any Rule FD information put out by the company to shed light on what is a difficult situation, I am not bothered by the bashers in the slightest bit. I say go ahead and put out your usual #$%$. It makes for entertainment. Now please keep in mind that I'm pretty twisted myself as I've done some gigs doing stand-up (yes, I know I didn't give up my day (nights and weekends)-job, and was even boo'd off the stage), but I enjoy reading the bashers. Heck, I'll even meet U1 for coffee the next trip to Vancouver (Tim Hortons, not Starbucks). The primary reason is that I look for actual evidence of wrong-doing by LLEN, just like I looked for actual evidence in the original GEO report. And when I cannot find any actual evidence (only unsupported inflammatory conclusions), I feel much better that the short-and-distort crowd is still shooting blanks.
So go ahead and have the bashers keep shooting blanks (or posts devoid of actual evidence) as it's fun to poke holes in the lack of logic provided.
So when/where is a bankruptcy and delisting confirmed? Do you like to lead a delusional life where you make up that which you hope for as a conclusion? The definition of insanity is to continue to do the same thing (post delusional thoughts) and expect them to happen.
Put a sock in it piatt. If you're a long shareholder, report this allegation to the LLEN Board of Directors, that is you're responsibility. Posting on a Yahoo board is akin to #$%$ into the wind. And just for you, piatt, the Board formed a special independent committee to investigate such allegations. The Board even has access to forensic auditors (paid by DWT and charged to LLEN via their legal bill).
We are not sitting as judge or jury to determine who is "right" or "wrong" here, nor to determine what is the "truth" if that can ever exist. Nor will I waste my time combing through the 10K and 10Q's looking for what you're alleging or an explanation of what you've (likely) taken out of context. You've cried "wolf" too often to be taken seriously.
There are folks who are paid big bucks to figure this stuff out. I'm not going to do it for free (you could say that you get what you pay for). But what I do know is that there is a large federal prison located near LLEN in SeaTac. And if even a tiny fraction of what you allege were found to have evidentiary merit and legal probable cause (I'm not going to say "true" because that would first require a Court determination), then I would be lining up for the Lee and Fong perp walk. However, given that those folks paid the big bucks have been reviewing materials not available to you or me, I will rely on their findings for my investment decisions, not yours. Lee and Fong did not strike me as stupid and would not do something as stupid as what you allege given their knowledge of the intense scrutiny LLEN has been under for years. Accordingly, I sleep well at night, and no male bovine excrement posted by piatt changes that fact.
The volume was due to the pricing of the secondary offering. The price was $2.50 to those who play the Wall Street rigged crony game and can participate in such deals. But for the retail riff-raff like me, we have to go into the open market to buy our positions (such as at $2.52), which is what I did today. While I don't know what will happen to the sock price tomorrow or next month or next quarter or next year, what I do know is that relative to fellow small pharma peers with clinical candidate assets, this seems to be mispriced in my opinion. That's why I added significantly to my prior very small position today.
But I'm no Wall Street guru, nor do I pretend to be one. Instead, I'm a working grunt who just happens to work for a similar small pharma company with a larger market cap. Was today's buy brilliant, or profoundly stupid? Time will tell. I have patience because I like to pay lower tax rates on gains.
So go flame away, I have thick skin.
I working at a company this week (the weather here is sunny and about 70 F, so I'm not in Seattle right now) where I invested in a PIPE about a year ago at $4/share. Today, each share is trading for over $12. Cannot name the company because I have too much info and I have to file a 13D if I buy or sell or exercise options. Now not all my picks are winners like that but I should be sticking to companies in the industry where I work and know. If U1 is reading this, the parking lot at ONVO is pretty full right now, too bad you're short that one.
Your credibility is lost by an over-use of adverbs. Does something state or CLEARLY state? When writing legal briefs, you flunked piatt. Better stay with your fiction. Also finding a number taken out of context does not rise to the level of a fact, just a shrill attempt and trying to not sound stupid but failing again. Face it Piatt, the day of reckoning is coming and you're CLEARLY about to get run over by a coal train.
Also what court documents? Pleadings are not facts, they're allegations. Don't forget the burden of proof and proving fraud is one of the most difficult tasks in all of the law. GEO didn't present actual evidence. Neither have you. Unsupported conclusions don't count. If there was any real evidence of fraud (not even enough to satisfy a burden of proof), the SEC would be all over LLEN like white on rice. But the SEC is not even investigating. Accordingly, the only conclusion that can be drawn from actual facts (as actions, or lack thereof, speak louder than words and much louder than adverbs) is that GEO/piatt/Carnes and the rest of the borgs posting are nothing more than male bovine excrement.
Carry on and earn your posting minimum wages, but I'm about to get swept into an assignment that will change the world as we know it. You can say "hi" if you're hanging at SeaTac before 6am.
And you're both living under a Renton I-405 overpass? Guess I have to bring more hot cocoa. He must work for Boeing, aka Lazy B.
Ignorant fool! Keep repeating your headline, perhaps you'll get the padded cell instead of Bubba's cellmate.
Sorry dude, ignorance of the law is no excuse for criminal behavior. The SEC will not come after GEO, the DoJ will. And DoJ stands for Department of Justice. It is simply a new form of insider trading and the damages will be disgorgement of profits and a significant penalty to deter future such activity by others. Carnes is merely the canary in the LLEN coal mine and that canary is dead. We just don't know which federal prosecutor will act, PA or WA.
Sorry for my infrequent participation but my legal biz is booming and my time is limited, not my interest in LLEN though.
Good weekend all, I remain stuck at SFO with big time weather delays.
While we wait for the CPA's and the racist Nasdaq to get their sorry posteriors in gear, perhaps we can look at this situation for the positive benefits being accrued. We got to watch the Canadians win twice. Once in Olympic hockey and once by indicting that sorry excuse for an oxygen-consuming human, Carnes, who contributes noting of value to society as a whole.
And then there's all of the fiction prose Piatt is writing. We need to put his or her talents to the betterment of society. On this Yahoo board Piatt validates the GIGO principle (stands for Garbage-In, Garbage-Out). Completely devoid of facts or evidence, Piatt simply makes them up to weave a tall tale of fiction even more far-fetched than a fishing story. Taking Piatt's fiction to its logical conclusion, there is no economy in China, their GDP is near zero, there is no commerce and the billion+ people are subsistence farmers begging on the streets. After all, everything reported from the China operations of every company is fake, right? It's time for Grisham-like novel to properly utilize Piatt's talents.
According to the male bovine excrement world of Piatt, everything LLEN has reported in its SEC-filed financials is fake and done so purposely. LLEN is already getting ready its BK filing because Fong/Lee et al. are all going to federal jail for interstate wire fraud for filing false reports with the SEC. According to the world of Piatt (and GEO and the dynamic duo of Carnes/U1 (pity their kids) and the less-articulate bashers), the Lee and Fong perp walk should be reported in the Seattle Times any day now.
But WAIT! There's no perp walk, there's no evidence in the GEO report, there's no actual facts cited by Piatt. And Lee and Fong are planning to go to Mariners games in April as the Mariners attempt to emulate the Hawks season-to-remember (hope springs eternal at the start of each season). We're simply waiting for the wheels to turn with the bean counters and the racist Nasdaq. Piatt write your book
How about the Nasdaq reputation for being Racist #$%$ that is an embarrassment to any country. That's why I now prefer to invest in companies on other exchanges. It is why the company I work for (that is public) is going to relist on another exchange. We want no relationship with such clearly Racist behavior.
The wheels of justice turn slowly, even in the Great White North. I wonder if his US passport was confiscated in order to prevent him from fleeing. Hope he doesn't try to circumvent the border crossing in a skiff heading south to Seattle. Call the Coast Guard.
I think hope is right. When we have all kinds of numbnuts writing hit pieces without a shred of fully vetted and reliable evidence, we have investment opportunities to bet against them. Rather than reform the investment world and the racist pig slime at Nasdaq, I like the opportunity to simply make money. My investment in LLEN has taught me much about the short-and-distort world and how to beat them at their own game. Looking out for the retail puissant investors like me is what the federal regulators, Congress, DoJ and states AG's are supposed to be doing. But they are failing. They have more resources than me and have regulatory subpoena power that I don't have. Accordingly, stepping in to do the job of the regulators without the power to do it does not sound like a winnable situation. Instead, I think we should play the "rebound portfolio."
The "rebound portfolio" is simple. Look for hit pieces. Review and analyze them carefully. Throw out the inflammatory conclusions and focus instead on evidence and quality of evidence provided. In the case of LIVE, some college kid has not gone to law school nor taken a law school level evidence class (sort of sounds like the other numbnuts GEO and Carnes, doesn't it). Be cold-blooded about the evidence and check your emotions at the gate. Then act. Buy only when there's blood in the streets. Sell with the crowd is pumping. Then pay your taxes. I love paying taxes as it means I've made money. If I wanted to change the world, I'd run for elective office but I don't want to #$%$ kiss to get there (campaign finance reform is another significant need but seems to be lacking those to push for reform).
First a disclaimer. I had attempted to do a deal with GALE (in my real day job) and found them to be crooked hypesters. Later I shorted GALE and quickly covered for a quick gain. I haven't been short for over a year.
Please read the Barrons article and the additional stuff published in the last two days about GALE. The difference in this case is that the fraudsters at Seeking Alpha were on the long side for GALE rather than on the short side for LLEN. Otherwise, it's the same fraud over and over again.
Lee didn't sell his shares. Ahn did sell his GALE shares. GEO shorted, Carnes shorted. They likely covered to realize a fraudulently obtained profit. We need the ambulance-chasing lawyers who file securities class actions to sue the shorters/put buyers in LLEN and seek damages from their profits illegally procured by fraudulent means.
Also note that the fraud with GALE included loads of message board and blog posts to reinforce their message in a coordinated fraud. Just like with LLEN, only on the short side.
My idea is to bet against whatever loud message is being broadcast on seeking alpha and reinforced on message boards, the preferred medium of expression of frauds.