Yes, that is correct, the current SP would mean nothing to a potential buyer if they are not interested in the holding Co and only in the assets, but if they wanted the holding co, the SP and it's quality/quantity would indeed be relevant to the price.
So for the SP to mean nothing at all, it would mean the liquidation of the assets, more than likely to a Chinese bidder. That could be done by bidding on the BVI, or Lee or his agent could take it private, once he is free of his legal obligations which will not be for some time to come.
Having said all that, it's not likely going to happen that way.
LLEN is in debt......probably way over 60 million by now...I don't really have a guess.
Since the assets are somewhat questionable, (in my view) It is impossible for me to make a accurate judgment as to what, if anything, they are worth. I would expect that the company is trying to determine that right now. Once they do, I would expect them to liquidate assets to pay or transfer debt obligations from LLEN and it's stockholders to a bidder or to the other party in their JV's. That action would be in the best interest of stockholders. But that's probably not going to happen either.
In fact, I don't really know what they are going to do, or even if they have options to do anything.
I do not see any way for them to file bankruptcy in the US, and the Chinese BK would be unlikely as well. Their options are really limited after the loss of Lee. Those options that remain cannot be very good for shareholders, but...........
All that remains to be determined.
You keep asking me why I continue to show up on this board and post, and I have tried to tell you early on that my hopes were to get some of you out of this dog and pony show before you lost 'all' of your money.
When It broke the buck and went to the OTC as predicted, I even thought for a minute that I might just leave it alone, but no, someone keeps using my name attached to some filthy, derogatory comment and I keep coming back to play some more!
So now it broke through 50 cents today...during the course of regular trade and I asked my self again, should I leave them alone? I really don't have any more to do...and it's probably too late for anyone to exit now as they ponder the binary option....a potential better outcome or a total loss...
I know this to be true, because I had to make that same decision. So I might have left today, never to come back and bug the #$%$ out of you...
Until I read your post about me today. Much along the same line as the others..personally derogatory and written to inflame or irritate the subject...same'ole...same'ole.
So I can't quit coming back.
As you can plainly see..
You are the f^%$ing clown here, hopeydopey....
But like a psychotic, you think everyone else must be the sick ones...
Have a nice f^%$ing day,,,,,
Definition of 'Pink Sheets'
A daily publication compiled by the National Quotation Bureau with bid and ask prices of over-the-counter (OTC) stocks, including the market makers who trade them. Unlike companies on a stock exchange, companies quoted on the pink sheets system do not need to meet minimum requirements or file with the SEC." Pink sheets also refers to OTC trading. "
(Not the first time I have had to post this to you)
What you are trying to argue is that LLEN's present location within the OTC quote market is somehow as legitamate as it was when it traded on the NASDAQ. (which is a real exchange)
If that makes you feel better, then fine, but don't throw that #$%$ in my face.
The pinks will always be the pinks. You can put lipstick on it, but it is still a pink pig.
So what does motion picture tape have to do with the electrical field?
Actually I am a retired Master Electrician, and former general contractor, and former CEO of a electrical contracting firm, but for the last 20 years I have been trading equities.
You can impugn everything I have said and will say until the sun dies, but it won't make you right about LLEN.
You are going to be one of the dumazz long investors who will hold on to this feces until it's revoked.
You will tell me I am full of #$%$ until that day comes, because that is who you are.
If you think that all your #$%$ posts to me or Piatt will somehow change what is going to happen to this #$%$ company, you are delusional.
So it follows that you are indeed delusional.
meant to write "such" but everytime I write it on this device it comes up "suck"......Must be this #$%$ hookup...
I'll also wager that my IQ far exceeds whatever pitiful number that you manage to come up with..
Sounds like you have a personal problem..
Try Zanex.....or perhaps a .357 taken orally.
Since you and others here refuse to see LLEN for what it really is, then it follows that everything I might say that does not follow your flawed template would be fantasy to you.
But it's a fact that LLEN is not what you believe it is, and you have no safety net or legal protections against frauds because the assets are all in China and neither you nor the US justice system can touch them, or even investigate them for that matter.
I do not think that under the circumstances, the remaining officers of LLEN have a comprehensive idea of who they work for.
But I do know that they will receive a education, as will you.
LLEN is one of the last remaining reverse merger RM/RTO stocks that is still trading.
However....new frauds turn up weekly or monthly in the investment community.
There was one last week...don't recall the ticker....they were into wire and electronics..Chinese...can give you weekly list of the ones that are revoked..by the SEC...
As to shorting, I wish I had......but as I have said many times over the last couple years here, I am a long player on individual stocks....only short ETF's and indexes designed for that purpose. I was long LLEN way back in the 10 buck days...been watching it die ever since..
Something else you really need to rid yourself of and that is the erroneous idea that LLEN is a US company.
Only the little rented office in Seattle is US....Just the office.....nothing more.
Lee's charges are pretty specific..
They have nothing to do with the Geo allegations and more to do with the Glaucus report back in 2011.
There are no additional charges at this time.
Lee himself or a agent appointed by him will act on his behalf until such time as he can act unobstructed so it does not matter is Lee in in prison or out. At some point he will be out, and it could happen relatively soon..or not.
There is a reason why they denied bail, and in fact I sent you the files.
If you read them carefully, and the other related materials you would know that Lee's money and the LLEN related monies have always been commingled. That there is not discerning LLEN from LEE...and there never has been and I expect that there never will be.
Right now there is a pregnant pause while all this is sorted out by the officers of the company, which should explain to you the reasons for the trips to China.
When they get it all together, and discuss it with legal counsel and advisor's, it will become clear to them and perhaps a bit more clear to you that you have invested in something that was at the least totally misrepresented to you and if litigated, might be termed a fraud. But I doubt that there will be further criminal actions by the SEC. They generally prosecute that civilly.
In any case, by that time, Lee will likely be in Taiwan.
Yes, of course public companies are created to access capital, but only in a fraud is that access for the purposes on one man or one family or partnership and NOT the company.
LLEN is Lee........and Lee is LLEN....
Therefore your investment was actually into Lee.
Without him, there likely is no LLEN. As will become more clear as time passes..
Mitch, LLEN is or was only a tool for Lee to use to gain access to working capital.
It is of no further use to him and in fact has become a problem.
So to fix that, it will be jettisoned from the corporate structure and Lee, at the first opportunity, will retire to Taiwan while lawyers and victims try to recover losses (blood) from what could accurately be described as a turnip.
While you were counting beans with your deferment, I was in Nam busting a few goobers....
What I said about Canada and their lack of protections for speech is exactly right. I personally know Canadian writers of various kinds who have moved to the US to escape the constant harassment by their own government agencies.
If you think for ten seconds rather than feel your balls, you right realizer that Carnes is not in any great danger but it's going to cost him a fortune to get out of what is essetially...nothing.
This sort of #$%$ is being tested here with hate crimes, politically correct speech, and forbidden words.
Have a nice day turd.