my offer of $0.10 for 10K shares goes in in the morning. Here is your chance to max out your government welfare loss.
and... thanks in advance.
I am in to the end. I believe that rbtshermans reason for posting negative ad naseum is that he is serving a purpose for some interest that does not wider ownership. Otherwise his negativity about any well reasoned substance… makes entirely no sense.
Yong Hui Li acquired more than 15% of the stock for some reason, probably not speculation on his part. The newly opened Yangtse River boat fueling station at a cost of $20 million is another sign that the company, writ large, in the PRC is very healthy.
It is clear that the Hedge Fund ABAX is trying to steal the company and the bet, at this point, is whether the Trustee in BK and the Judge are in on the theft. Otherwise the book value is $10 per share and the outstanding debt is already liquidated from that number. However, do not own more in exposure than you are willing to lose. The world we live in is a devious corrupt place. When rbt sells next week for his year-end loss government stipend, I will pick up 10,000 shares at $1000. It will be my wife’s xmas present to me.
CHNG has a stand alone residential pipeline that has no obligations that are stated in the consolidated balance sheet. It is a pipe company. The lng plant has debt of $40m and a rbt sherman valuation of of $160m. The company in each of its separate subsidiaries is a going concern, none of them have beed loan company forced into bankruptcy. CHNG, the delaware claimant of vre equities in the variety of subsidiaries has been forced into bankruptcy by a hong kong hedge fund that has zero legal standing in the us of a. eh? Don and his boys, including you, rbt, appear to be a den of theiving bandidos.
that very point, that they are hiding many assets from American owners, was asserted by Director Don Yang in his letter of resignation circa 09/13, if I recall the date. Yang also stated that the company and directors would be breeching its or their fiduciary responsibility to shareholders. Don Yang is one of rbtshumans personal heros, so he must not be shooting a line of bull when he asserted this information. The fiduciary responsibility also lies with the Trustee in BK.
book value is book value, eh? There is another china-scam stock, do not know if you have heard of it, it has symbol SGAS, and it is being taken private at 70% of book value. And I for one believe that the American shareholder is getting screwed at that price.
Why is it rbt, that you have such disdain and hatred of American shareholders?
I mean, you are not a red agent are you? Don's boy?
I see that you have reverted back to your 3rd grade mode of intellect. I have more success trying to teach my cat, than you! For the umpteenth time, it is not price of oil or ng that has anything to do with profit, it is margin. Since the company is in the black, we have no idea of what the margin is. You seem to get some thrill in exposing your ignorance.
thanks for your effort with this matter, however I do not think that this site enumerates any listed assets of the CHNG consolidated ownership of assets. The 9/30/13 10-Q filed with the SEC states total assets of $307 million against total liabilities of $87 million leaving a net worth of $220 million... or a book value per share of approx $10 per listed share of ownership.
The assets are in plant and equipment for the most oart there is no mention of significant real estate ownership nor is there (to my reading) any comment of real estate business undertaken by the company(s).
I have followed this stock in active ownership since 2009. I have spread the financials quarterly. And I have watched as the SEC fined the company and Quinan Ji $850K for false information. Reportedly, both Ji and CHNG paid the penalties. It is hard to imagine, after this, that the CHNG would continue to play fast and loose with information provided on 10-Q statements.
I have taken this info from the 10-Q that is available on this site on the left, SEC Filings. The last filing before going "dark" was 09/30/13. But here is the vie/subsidiary infor from that report"
“China Natural Gas, Inc. was incorporated in the State of Delaware on March 31, 1999. The Company through its wholly owned subsidiaries and variable interest entity (“VIE”), Xi’an Xilan Natural Gas Co., Ltd. (“XXNGC”) and subsidiaries of its VIE, which are located in Hong Kong, Shaanxi Province, Henan Province and Hubei Province in the People’s Republic of China (“PRC”), engages in sales and distribution of natural gas and gasoline to commercial, industrial and residential customers through fueling stations and pipelines, construction of pipeline networks, installation of natural gas fittings and parts for end-users, and conversions of gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles at automobile conversion sites. The consolidated balance sheets as of September 30, 2013 include the accounts of China Natural Gas, Inc. and subsidiaries and VIE. Our subsidiaries are: Xilan Energy Co. Ltd. (“XEC”), Shaanxi Xilan Natural Gas Equipment Co. Ltd (“SXNGE”), Hubei Xian Natural Gas Co., Ltd (“HBXNG”), Lingbao Yuxi Natural Gas Co. Ltd. (“LYNG”), Shaanxi Jingbian Liquefied Natural Gas Co. Ltd (“JBLNG”), Henan Xilan Natural Gas Co. Ltd (“HXNGC”), Xi’an Xilan Auto Body Shop Co, Ltd. (“XXABC”) , Hanchuan Makou Yuntong Compressed Natural Gas Co., Ltd (“Makou”) and Xiantao City Jinhua Gas And Oil Co., Ltd. (“XTJH”).”
the importance of the question is that it exposes ABAX, because if they were not able to collect the note or repossess the collateral that secured the note in either the PRC or Hong Kong proper then they, ABAX, are incompetent. It is that simple. The NY Bankruptcy efforts are an attempt to hide the real financial value of the company and steal the American ownership claims to the subsidiary, so-called vre claims of the CHNG proper. As far as we know, the 5 or so subsidiaries are all "going concerns" in the PRC. rbt is a stooge for the skammers in my opinion. It is going to be interesting to watch what develops.
the note collection was disputed by the CHNG group. The terms of the note called for arbitration at dispute.
And if the note did not pass on to arbitration, then the note cannot be collected, eh? I mean if the company is spending $20m on the Yangtse River LNG station, they certainly have the ability to pay off or refinance the loan for the LNG plant. I do not think fast-times Don Yang is man enough to collect his own loan.
did you sign the petition? 70% of book value sounds rather appealing, eh?
glad... to see you are on the stick. For a stock with no value, rbt, old-boy you seem to pay mega interest to this board.
I did not see any 13G filings for the sale of shares held either by Quinan Ji or Don Yang the past CEO and Directors of CHNG. They owned greater than 3 million shares. And then Yong Hui Li of nearby Hubei Province (and supposedly citizen of Canada) purchases 14% of the outstanding shares approximately one year ago. Amongst these three rest greater than 25% of the ownership of the outstanding shares. Since the company has “gone dark” American shareholders are apparently not worth any consideration, something is awfully strange about all of this. I might remind you all,, that before HRBN was bought out, the abax boys loaded up on the shares and…. Coincidentally made out like bandits.
As the Krone gets weaker to the dollar, the less valuable the STO stock.
For example, a year or so back, the Krone traded at 5.6 Krone per USD.
This exchange rate difference translates from the 19 value today, to 24 value
if the Krone traded at the stronger rate.
The central bank of Norway manipulates the exchange rates and this is a detriment to
the domestic value of the stock in America.
what happened to the "rule of law" mumbo-junbo you were just spitting out? You seem to take some pride in screwing American investors and citizens, which is a sad sad shame. You are really a disgusting puke.
it currently takes 6.92 NOK to purchase one USD,
so the price of STO will likely be at $20.63 depending on what changes occur tomorrow morn in
the home country.
Don Yang, Director of CHNG breeched his fiduciary duty to shareholders of CHNG. The information posted about this disgusting bozo who has no respect for "rule of law" is or has occurred at the same time as crimes perpetrated against shareholders of CHNG. One of whom is ostensibly you. Time for you to wake up rbt.