Tell me how the SEC wants to collect this? Are there any assets in the US or under US jurisdiction. With respect to Chinese companies with operations in China only the SEC is a "toothless tiger". In the case of TRIT the assets of the US subsidiary could be seized but I doubt they are worth much.
As usual US investors are going to get pennies on the dollar and the lawyers 35 % of the cake.
They do not loose as they still have the company. Only US investors lost again. There should be no more small cap Chinese companies allowed to kist in the US.
If this comes from teh MMs then this is simple scare tactics to get some people to panick and sell. But is this stock continue to tade if no finacial reports are supplied or is it goinfg to foillow DYNP into oblivion? We should really petition SEC and Congressmen to not list anymore small cap Chinese ADRs. Also DGWIY shoudl stay listed, otherwise Guo has won with his strategy. He shll not be enabled to list in China since he has still outstanding labilities with us in the US.
I bought SDRL wich has a 10 percent dividend and potential to climb back up. since I bought it it already did
There are better investment opportunities out that than this POS. I have been holding on to my shares until today. Market has no interest in this stock anymore except a few bagholders. It also did not help to reduce annual dividend from ).0.05 to 0.02. This hardly covers the ADR fees one has to pay. Overall company is a huge disappointment.
So why not collect signatures among the fleeced shareholders and petition the SEC to change this. This petition should also be sent to respective lawmakers that monitor SEC activities. There should be no more IPO's of small cap Chinese companies in the US allowed until this issue has been resolved. This way even Wallstreet might finally change their course. Are there any lawyers amongst us fleeced investors who could draw up such a petition?
I personally have suffered now from 4 such Chinese fraud companies (CNEP, DYNP, APWR, RINO). It has always been the same pattern. These small cap Chinese companie should not be allowed to list in the US
Who the hell sold yesterday for 5 cents? Do they want to scare us so we dump our positions. Who the hell is buying at 5 cents if the stock is supposedly dead?
I find it incredible that the US regulators still allow Chinese ADR's access to US markets after the many fraud cases. There should be some retaliatory action. Against Iran they call it sanctions. In the stock market there needs to be either better oversight or a clear mandate to prosecute fraud cases also in the people Republic of China. Duoyan Water is an ongoing concern who just decided to keep our money and hide and not communicate anymore with investors.
They might still be listed but they are not profitable. I do not think that management planned to defraud investors but now that their stock is down so much they may just abandon US investors as other companies have already done
Thanks for the suggestions and recommendations. Unfortunately I am also invested in other small cap Chinese stocks such as TRIT, GURE DYNP (at one time TSTC). The reason I have not sold off my DGWIY holding is because I thought Mr. Guo was an entrepreneur and wanted to continue being wealthy when selling his own stock. Yes he owns and controls the company but when theDGW was over $ 20 he was rich (at least on paper). Now he has to look at alternative financing. Unless he planned this fraud from the beginning he is plain stupid not to have revived the DGW pps.
I am more into small biotech stocks now which can hopefully recover some of the money lost.
Well, then you can kiss this penny stock goodbye. A fraud like DWG will happen some day again. I learned my lesson and will stay out of Chinese stocks, no matter what growth prospects are advertised. This was the same with DWG and this probably never was a $ 29 stock.
I do not see this as positive as you. First we as shareholders need to refuse settlement of pennies. Second the SEC needs to keep this stock listed on the OTC. Otherwise he will simplly list in China and there investors feel that they can sue him for his assets.
Since you seem to have insider information, tell me why the share price of DGWIY is still 25 - 30 cents when DYNP has already dropped to 0.01 - 0.02 cents. Both companies are apparently pursuing the same strategy ..........to get delisted in the US and to enjoy the cash infusion US investors gave them a few years back.
The only ones to change this crooked behaviour of Mr. Guo et al would be the Chinese authorities.
On Friday the stock dropped by 10 % on rather modest volume. The 2 - 3 times it really moved up in a day it was on significantly larger volume. I think there are some naked shorters out there that use such days to drive down the price and create doubts on people's minds again so they have a chance to cover their shorts later cheap. There has been no news out and no panick selling. Does this make sense to see stock go down 10 % in a day without news?
....since they are on the decline this is a good momemnt to bid farewell to US investors same as RINO, DGW, APWR, CNEP...
SEC shoudl not allow small cap Chinese companies to list in US anymore (only after they have been successfully listed in their home market
Well, after they cut their already token dividend the stock took a dive. They will only get to the old pre- Muddy Waters valuation if they really have good earnings. This might happen some day but not in the near future.
well, if all US investors stick together, nobody will sell at $ 1/share. I thought he controlled onlty 51 % of the company and may have bought a few shares here and there during the past 3 years.
In case that Mr. Guo decides to list his share of the company in Shanghai would that not value our shares then at teh same price? Would he need to have the shares on the OTC board in the US first invalidated before he could list again?
I am more convinced than ever that we shoudl not settle with him for pennies. I hope teh SEC does not simply delist these DGWIY shares as they did with CNEP and APWR. They certai nly are doing investors no favor doing this