QUACK QUACK QUACK QUACK
... and your post is sensible, but then the market doesn't make sense much of the time, does it?
I'm choosing to hold. This sector has been sold off because of fracking. SDRL will continue to pay the awesome dividend, you will see. That is what keeps this stock up. It is cheap to begin with.
Wow, I haven't checked your posts but you sound like you short this stock. The bonds only convert into common shares at a 30% premium of today's stock price. Do you still think it is dilutive?
because you are reckless and stupid ... if you want to make a contrarian play, look at SDRL, RIG, ABX, ... not this piece of Chinese junk.
Yes, you are right. I don't understand them either. That's certainly a good reason not to buy more, don't you think? If you don't understand the forkin' investment, don't buy it.
If you don't know by now that CBEH is junk, then you deserve to lose your money if you buy more. I will not be surprised at all when NASD deregisters CBEH. Of course it will still trade on pink sheet then ... and it will be a penny stock. Chairman Gao doesn't care. If he did, he would have done something by now to prevent this. Chairman Gao just doesn't want to go to jail (or worse, if Chinese law punishes him for fraud). He already has your money. It doesn't matter to him if his shares become worthless. I'm reasonably confident that their biodiesel production numbers were faked ... sure that doesn't mean the company is fake, but does it really matter when there is no market for this junk? Who will buy it from you? The list of suckers gets shorter and shorter ...
good luck to you ... I won't buy junk, I won't touch this Chinese junk no matter how low it goes ... but I'm still holding 10,000 shares of it, from before the delist
I think it just formalizes what already happened previously when NASD delisted CBEH ... even after NASD deregisters CBEH, my understanding is that CBEH can still trade on pink sheet.
OK, so it isn't the same as DYNP - the company just announced that they received the SEC's order, and "The Company is committed to becoming current with its filings and is thus disappointed that the SEC has commenced this action, which we feel will work only to the detriment of our shareholders. We will continue our efforts to become current and oppose the action."
So ... situation is not hopeless yet.
amazing ... SEC can't even successfully serve an Order Instituting Administrative Proceedings on DYNP:
"The Securities and Exchange Commission (Commission) issued an Order Instituting
Administrative Proceedings (OIP) on July 26, 2013, alleging that Duoyuan Printing, Inc. (Duoyuan
Printing), has securities registered with the Commission and has been delinquent in its periodic
filings for over two years, and thus has failed to comply with Section 13(a) of the Securities
Exchange Act of 1934 (Exchange Act) and Exchange Act Rules 13a-1 and 13a-13.
The proceeding has not gone forward because the Division of Enforcement (Division) is
seeking the assistance of authorities in the People’s Republic of China to achieve service of the OIP
on Duoyuan Printing under the terms of the Hague Convention on the Service Abroad of Judicial
and Extrajudicial Documents. See 17 C.F.R. § 201.141(a)(2)(iv). This is the fifth time a hearing or
prehearing conference has been postponed for lack of service. On April 17, 2014, the Division
informed my Office that it has not yet received confirmation from the Chinese Ministry of Justice
regarding service and is evaluating options for alternative non-Hague service.
I POSTPONE the telephonic prehearing conference scheduled for April 22, 2014, to May
27, 2014, at 2:00 p.m. EDT. The Division should inform my Office if it accomplishes service on
Duoyuan Printing before this date, or if it changes its position on the status of the proceeding."
They have a robot answering their email ... that is the exact same answer they've been giving for years now. Simply awesome ... NOT.
CHING CHANG LING LONG CASH GONE PING PONG
don't hold your breath while you wait ... or you will die
I'm not expecting CBEH management to do anything for us investors ... I suspect we are screwed. I will continue holding though ... so at least I admit I really have no clue what will happen. That is certainly no basis for buying more shares of this junk. If you have no clue what is going on with the stock, NEVER BUY.
I just emailed CBEH investor relations asking them if CBEH responded to the SEC within 10 days after being served the order, if I get any useful information from those turkeys I'll post it here.
ching chang ling long cash gone ping pong
Um, deregister means CBEH shares would no longer be traded on any market, not even OTC pink sheet ... that means our shares become worthless, right? That sounds like a big deal.
I think sentiment "Strong Buy" for CBEH is pretty stupid ;-), especially now.
I may decide to hold, although I think we are going to see a bit of selling now so the stock price will probably crash even more than it already has.
I found this opinion (posted 1/28/2014, on an article titled "One Way Or Another: The SEC Versus The Chinese Big Four Firms"), which seems to clarify the SEC's basis for this action:
"Company D in Elliott’s decision is China Integrated Energy which was NASDAQ listed and now trades on the OTC as CBEH. It was a KPMG client and immediately following the 2010 10K filing was attacked by Jon Carnes using the alias Alfred Little. KPMG subsequently withdrew it’s opinion saying that it no longer could rely on Management Representations but it stood by the financial figures reported in the 10K. Following an investigation report in 2012 which confirmed the cash balances but said internal controls were lacking, new auditors were appointed to audit 2011 and 2010. The audit was completed in late 2013 but the SEC threw in a curve by saying 2009 was audited by Sherb which was suspended in November 2013 and CBEH would now have to reaudit 2009 as well. Just before Elliott’s decision CBEH decided to file the 2011 10K apparently ignoring the SEC request to reaudit 2009.
CBEH has annual sales of about $500 million and maintains net cash balances in excess of $100 million to support it’s fuels distribution business in China.
The absurdity of the SEC actions speaks volumes about the the reach of the SEC around the world. When will common sense prevail, redacted decisions included."
So, it seems that SEC is going after CBEH because they did not reaudit and refile their 2009 financials.
"In view of the allegations made by the Division of Enforcement, the Commission
deems it necessary and appropriate for the protection of investors that public
administrative proceedings be instituted to determine:
A. Whether the allegations contained in Section II hereof are true and, in
connection therewith, to afford the Respondents an opportunity to establish any defenses
to such allegations; and,
B. Whether it is necessary and appropriate for the protection of investors to
suspend for a period not exceeding twelve months, or revoke the registration of each
class of securities registered pursuant to Section 12 of the Exchange Act of the
Respondents identified in Section II hereof, and any successor under Exchange Act Rules
12b-2 or 12g-3, and any new corporate names of any Respondents."