I, , declare that I have reviewed the Verified Shareholder Derivative
Complaint (“Complaint”) prepared on behalf of China Organic Agriculture, Inc. and authorize its
filing. I have reviewed the allegations made in the Complaint, and to those allegations of which
I have personal knowledge, I believe those allegations to be true. As to those allegations of
which I do not have personal knowledge, I rely on my counsel and their investigation and for that
reason believe them to be true. I further declare that I am a current holder, and have been a
holder, of China Organic Agriculture, Inc. common stock at all relevant times.
Sue the Directors. They are not doing a thing to protect the shareholders.
Mr. Tianfu Li is Chairman of the Board, Chief Executive Officer of NIVS IntelliMedia Technology Group, Inc. Mr. began serving as Chief Executive Officer and Chairman of the Board on July 25, 2008 upon the closing of the Share Exchange transaction with NIVS BVI. Prior to the closing of the Share Exchange, Mr. Li was the Chief Executive Officer and Chairman of the Board of NIVS BVI. As Chief Executive Officer, Mr. Li has been responsible for formulating the operating policies and long-term development plans for the company. From July 1989 to June 1993, Mr. Li held a number of positions at Sino-European (Huizhou) Electronics Co., Ltd., a company that manufactures and sells car audio products, including Assistant Engineer, Production Director, Quality Engineer, Research and Development Engineer, and Director of Developing Projects, and was responsible for offering technical support for first-line production, production management, and quality control. Mr. Li was also responsible for the plan, exercise, and completion of new projects. Mr. Li left Sino-European (Huizhou) Electronics Co., Ltd. in June 1993. Also, prior to January 1998 when he founded NIVS PRC, Mr. Li collaborated with business contacts and associates on the research, development, production, and sale of VCD and DVD players. Mr. Li received a bachelor’s degree in radio communication from the South China University of Technology in 1989.
Say no to the restrucutring
CEDC Receives NASDAQ Staff Determination Letter
4:30p ET March 22, 2013 (PR NewsWire)
Central European Distribution Corporation (NASDAQ: CEDC) announced today that on March 20, 2013, CEDC received a Staff Determination letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("Nasdaq") stating that CEDC was not in compliance with Listing Rules 5250(c) which requires CEDC to file its Annual Report on Form 10-K for the period ended December 31, 2012. As a result, Nasdaq staff have stated that this serves as an additional basis to delist CEDC securities from the NASDAQ Stock Market to that announced by CEDC on its Current Report on Form 8-K filed with the United States Securities and Exchange Commission on January 7, 2013 and that the Nasdaq Hearings Panel will consider this matter in rendering a determination regarding CEDC's continued listing on the Nasdaq Global Select Market. If CEDC wishes to request a stay to delisting beyond the hearing currently scheduled for March 28, 2013, it must make the request no later than March 27, 2013, together with an explanation of why an extended stay is appropriate. CEDC intends to request a stay to delisting. The letter also stated that the Nasdaq staff do not believe that any further stay is warranted because CEDC is in default of its 3% convertible notes due 2013 and is actively soliciting the note holders to vote in favor of a plan of reorganization through a filing for protection under Chapter 11 of the U.S. Bankruptcy Code. The NASDAQ Staff Determination letter has no immediate effect on the listing or trading of CEDC's common stock on the NASDAQ Global Select Market.
Maybe Warren Buffet will bail us out. A pretty cheap price to pay.
If they want the shareholders to get nothing in this deal, the same should apply to the Directors and Officers.
They should get paid nothing and get no shares of the new or old company. Lets see how they like it.