13D or 13G filed 6/6/13 affirms that creditor Abax Lotus Ltd owned 310,734 shares or 1.4% of outstanding shares. Those are common shares of the company. How would Abax Lotus Ltd be guaranteed $7 per share for that stock? It's current market value is $0.50 per share.
Imagine that Shuwen Kang is in on a "Great Deception" (like the "great leap forward" only different) whereby the accelerated debt totaling some $62m cannot be repaid or refinanced or amicably negotiated with the creditors (Abax and Lake Street). Creditors force into Involuntary CH 11, CHNG fails in protest, CH 11 reverts to CH 7 Liquidation and the extant of American ownership range of VRE are sold by NewYork BK Trustee to a prearranged consortium of PRC investors who bid fixed prices at liquidation "stealing" a going concern from America and making out like bandits. Shuwen Kang will play his role, taking the company black and thereby keeping investors in the dark (pun intended) he will remain the manager with stock options. Abax will arrange for a domestic PRC IPO, with p/e in the 20 range on projected earnings and everyone in America will look like fools. Is there a SEC in this country? Is CHNG insolvent? SEC Book Value $10 per share at 9/30/13. If you notice, rbtsherman speaks about all of this as though it was a "done deal", i.e. the loan company is guaranteed $7 per share. Abax Lotus shares are the same common shares as mine or yours. Why would they be guaranteed $7 per share?
My hope is that some Japanese company comes to New York and puts in a bid of $8 per share and cleans up the whole ship of deceitful practitioners.
Do you presently own shares of this company? If you do, why do you? The company is in C7 liquidation.
if the answer to the two preceding questions is in the affirmative, then why not enter into the "chatter" to ferret out the truth about what is gong on? Otherwise your opinion on the discussion is meaningless.
and furthermore, at 6/6/13 on SEC 13D abax affiliates reported owning 1,415,000 shares common stock. That is 6.2% of total shares. If there is no value to the shares, why on earth would investment firms hold on to their positions? Firms with a clear cut conflict of interest because Fast-times Don Yang was their managing member and also Board member of China Natural Gas, Inc.
could you provide me the date of that report, please? It is what I am looking for. You know, of course, rbt, that your repeated lies make you incredible, so... the date of the report if you would be so kind.
a little bit defensive there, are you not? The question was not about Honest Best, but Q-Ji. Does he still own 14% of shares outstanding? If he is a defendant in an American lawsuit, he'll see no cash value to those shares. I believe he still has the shares.
from the 6/30/11 13G
Mr. Ji beneficially owns 3,002,299 shares of Common Stock, representing 13.99% of the outstanding shares of Common Stock of the Company. Sunway beneficially owns 1,437,683 shares of Common Stock, representing 6.7% of the outstanding shares of Common Stock of the Company. Mr. Ji owns 42.1% of Sunway and is deemed to have beneficial ownership of the shares of Common Stock held by Sunway. The percentage of outstanding shares of Common Stock is computed based on 21,458,654 shares of Common Stock outstanding.
Honest Best reported 13-G owning greater than 15% of shares outstanding?
Why would anyone purshase 3 million shares of a company headed to CH 7?
(was this a sale/transfer of Q-Ji shares?) Abax in consortium still owns 1.3 million shares
or at least greater than 1 million shares. If there is no value why not sell?
that's funny, rbt, I thought I read that Q-Ji had reimbursed CHNG only $100000 of the $800000 SEC fine assessed. Why should I as a shareholder pay for his lies to the SEC?
I do not know if you have ever heard of Enron, but you might consider looking up the details on Lay Schilling and Fastow. It is the board and highest level of management that is the company. Imagine if Q-Ji and Fast-times Don Yang were running Enron. Can you imagine where they would be today?
did I just catch you in a bald face lie, or can you name a class action against CHNG that does not include board members?
"The Us law suits are sueing chng ,not the president or any person"
can you name a single lawsuit that does not charge members of the board of CHNG as defendents?
The Vandevelde suit charges Don Yang and Quinan Ji as defendants.
I might add that the $8 total price (which liquidates all debt) is roughly equivalent to 1 X annual revenues and represents only .80 of 9/30/13 book value of $10. FYI a sale would command 2X annual revenues and at least 1.5 X book value. That price would be $15.00 per share, but if you subtract $3 per share (of debt) then the net to shareholders would be $12 per share. So there you have it, worst case $5 per share, best case $12 per share. Now.... who does the trustee in BK work for?
The lng plant vre sells for $4 per share, this covers
the plant, licenses, and work in progress on phase 2.
The cng stations vre(s) sell for $3 per share and the
utility with natural gas delivery for 122,000 residence
sell for $1 per share.
All debt and penalties are wiped from the lng vre sale
with $1 per share to spare. Add that to the $3 for the
stations and the $1 for the utility and you get a net $5 per shareholder.
All monies payable in America with a lien of attachment placed on
funds that go directly to either Q-Ji or Fast-times Don Yang personally or to any significant interest of theirs due to their contingent liabilites in class action
suits pending court final decisions.
Hope you have a bang of a fourth.
you sound like my wife, you're not German are you?
so.... there was no preference to the class, eh? imagine that.
Book value is greater than $10 per share according to the data taken from the last 10-K SEC filed. The subsidiaries of CHNG or vre as you wish, are all going concerns. The BK will have no affect on their respective PRC operations. Explain to us Herr rbt, just why you don't see the class actions gone? CH 7 requires a provable claim, isn't that correct?
you missed the point, rbt. the class actions are now gone. the members of the class will receive zero. remember your boasts about how you, rbt, were going to cash-in as a member of the class action? How much cash did you just lose as the CH 7 negates the class actions? Remember, the judge was going to just let them, the class actions, "add on" what they wanted and take it out of the till? Tell us rbt. How much did this action cost you personally?
ah haa, glad to hear a second opinion on this. I do believe that the BK is feigned for the purpose of defrauding American citizens. We'll see what happens.
that the CH 7 Liquidation of assets by the BK Trustee negates the class action law suits with
respect to CHNG, the corporation, but does not affect the class actions with respect to the directors
who were charged in the class action.
you know well that the corporate obligation to the three separate hedge funds could have been modified to accommodate what are liquidity problems. this is at the complexity level that 3rd graders can understand, eh, you rbt have acknowledged this several times. Why Abax wanted to force BK? To steal the company, maybe? Are you beginning to get the picture?