I would love to see the array of letters between Welch and Licker over the past two weeks, especially the ones dealing with whether the four shareholders swore the truth of their statements. Something tells me Welch is not giving the Court the full story, I could be wrong but I am certain the Judge will get the full goods.
The SEC staff should be held accountable by the overseers of the enforcement branch if oppression of CBEH shareholders has occurred.
The new auditor is coordinating with the last one for work handover and consent letter. The company wants to wait until everything is settled down before filing 8-k.
The judge hasn't given a ruling on de-registration thing and our lawyers are still working on it. There is no change of memember of management in the company.
Thank you and have a nice day!
I expect the SEC lawyers will be observing every moment of Carnes testimony in Vancouver BC starting in a few weeks to find good evidence to bring action in the US. Of course you will be the first to champion the SEC action and why stop at simply returning profits, people get long jail sentences for even minor crimes. Going dark came about because of the short actions and possibly difficulties with the accounting profession concerned about the draconian SEC involvement. You want 100% compliance, well lbcb321, not all the world agrees with you.
But no mention of those that caused CBEH to have difficulties in filing, Jon Carnes for starters, lbcb321, you speak with forked tongue.
Mind you, Jon Carnes will find out the lawyers cost in Vancouver BC very shortly. Lets see, three lawyers + support at say $5000/hr for 10-15 days of court time + months of preparation, h'mmm maybe $500,000 minimum and all by retainer paid up front. Then the multi dollar penalty and the loss of whatever property he owns in BC and on to SEC enforcement in the US. But surely you lbcb321 will be promoting SEC enforcement, right!
Your scorched earth, all guns drawn approach to SEC vigilante justice is incompatible with modern settlement approach to business. The apparent extremely oppressive demand by the SEC for quarterly F/S long after the 10K's have been filed for 2009-11 does not serve any investor interest. The real culprits i.e. the short scampsters have escaped scot free and the SEC has abrogated its responsibility to deal with these jerks to British Colombia almost as far removed from Wash DC as China. I encourage any large shareholder to find a lawyer willing to launch a billion dollar action with the SEC as defendant. BP has taken this course in Houston by staffing a tower full of lawyers to take on the multitude towers of US government lawyers. When will it stop is when the SEC comes to its senses.
What we are waiting for is the lawyers response to the SEC's statement that the filings will not be made by the due date. Licker said he would keep the SEC informed. He has not confirmed that RBSM resigned after completing quarterlies for 2009 -2011 or before or if they resigned because new auditors have been engaged which is what CBH has stated. It is also possible that the SEC has changed its requirements for quarterlies dating back five years which I think is unprecedented. I hope and expect that the lawyers will issue a statement confirming exactly what it is that the SEC requires from 2009 to now. CBEH has filed a 10K for fiscal 2011 and said new auditors are working on 2012 to now. Loeb & Loeb have been counsel to CBEH for the entire time.
A telephonic prehearing conference (PHC) was held July 29, 2014. The PHC was
attended by Neil Welch, Jr. for the Division of Enforcement and Eugene Licker as counsel for
Respondent China Integrated Energy, Inc. No other Respondent appeared. At the PHC, Mr.
Licker confirmed that he had received service on behalf of China Integrated on July 7, 2014. I
ordered the following briefing schedule with respect to China Integrated:
August 29, 2014: Motions for summary disposition are due
October 3, 2014: Oppositions are due
October 14, 2014: Replies due
Mr. Licker asserted that China Integrated expected to become current with its filings by
October 31, 2014. Because service was effected on China Integrated on July 7, 2014, the
deadline for issuance of the initial decision is November 4, 2014. Mr. Licker has pledged to
keep this Office updated on the status of China Integrated’s efforts to become current with its
HANGZHOU, China, Oct. 22, 2014 /PRNewswire/ -- Boeing [NYSE: BA] and Commercial Aircraft Corp. of China (COMAC) today opened a demonstration facility that will turn waste cooking oil, commonly referred to as "gutter oil" in China, into sustainable aviation biofuel. The two companies estimate that 500 million gallons (1.8 billion liters) of biofuel could be made annually in China from used cooking oil.
"Strong and continuing teamwork between Boeing and COMAC is helping our industry make progress on environmental challenges that no single company or country can solve alone," said Ian Thomas, President, Boeing China. "By working together for mutual benefit, we're finding innovative ways to support China's aviation industry and build a sustainable future."
Boeing and COMAC are sponsoring the facility, which is called the China-U.S. Aviation Biofuel Pilot Project. It will use a technology developed by Hangzhou Energy & Engineering Technology Co., Ltd. (HEET) to clean contaminants from waste oils and convert it into jet fuel at a rate of 160 gallons (650 liters) per day. The project's goal is to assess the technical feasibility and cost of producing higher volumes of biofuel.
"We are very happy to see the progress that has been made in the collaboration between Boeing and COMAC, especially the achievement in aviation biofuel technology," said Dr. Guangqiu Wang, Vice President of COMAC's Beijing Aeronautical Science & Technology Research Institute. "We will continue to work with Boeing in energy conservation and emissions reduction areas to promote the sustainable development of the aviation industry."
Sustainably produced biofuel, which reduces carbon emissions by 50 to 80 percent compared to petroleum through its lifecycle, is expected to play a key role in supporting aviation's growth while meeting environmental goals. The Boeing Current Market Outlook has forecast that China will require more than 6,000 new airplanes by 2033 to meet fast-growing passenger demand for domestic and international air travel.
Boeing and COMAC have been collaborating since 2012 to support the growth of China's commercial aviation industry. Their Boeing-COMAC Aviation Energy Conservation and Emissions Reductions Technology Center in Beijing works with Chinese universities and research institutions to expand knowledge in areas that improve aviation's efficiency, such as aviation biofuel and air traffic management.
Biofuel produced by the China-U.S. Aviation Biofuel Pilot Project will meet international specifications approved in 2011 for jet fuel made from plant oils and animal fats. This type of biofuel has already been used for more than 1,600 commercial flights.
whether CBEH can continue trading OTC while this SEC farce continues.
Presumably CBEH can appeal any SEC administrative decision.
I continue to be dumbfounded by the oppressive actions of the SEC through Welch demanding 10Q's from 2009 through 2011. What useful purpose does this serve? Time for an investigative journalist to do a story on CBEH and the SEC, they can follow Carnes on his journey through the BCSC as well.
What it means is that Gao owns half the cash now, does he want it all, I don't think so.
The issue is the continued demands by the SEC for quarterly reports dating back 5 years. What purpose does that serve? Is the SEC's actions actionable, perhaps an ambulance chasing lawyer will agree.
In the meantime we await the SEC response to Licker's filing. This excerpt may tweak the interest of the lawyers.
"Dear Mr. Licker:
My wife and I are concerned shareholders of China Integrated Energy Inc. Together, in
both a retirement account and an investment account, we own over 1,000,000 shares of CBEH.
Accordingly, this is intended to be included in the company's response to the SEC in the action
commenced against CBEH to de-register the Company pursuant to section 120) of the Exchange
We have followed China Integrated closely, through public filings and information from
its independent directors, and know that China Integrated is working hard to become current in
its filings with the SEC. The real impact of de-registration would harm the individual
shareholders like my wife and me. We have been longstanding shareholders of CBEH for over 3
years and believe that the Company is working to become current in its filings. De-registering
CBEH would do substantial harm to us and other long time shareholders.
Licker says the SEC now wants 10Q's as well. give me a break. I think the Puerto Rico action is an issue for Gao. The post below tells the story
randallschuppener • Sep 23, 2014 2:40 PM
Sure. Company ready to file 8K officially announcing HHC as our new auditors after RBSM signs off. Licker working behind the scenes fighting the August 29th revocation filing. Any appeal by us should fend off any sanctions by the SEC for several months until we file the 2012 and 2013 10Ks and 2014 10Qs. Remember this stock had $3+ a share in cash with no debts in 2011 and likely more now as we have expansion plans and new hiring. If somehow we are suspended or such expect the company to relist on the new Chinese OTC market ChiNext. Perhaps they are weary of the lawsuit as even though the plaintiffs were denied class action status litigation continues with the lead plaintiff Puerto Rican School Teachers Retirement. Also a continuing possibility is for a takeover bid and for the company to go private after all back financials are released. There are a consortium of Chinese banks with over 3 billion in assets that special in just such transactions.
Obviously you never understood that oils distribution was the main business and why CBEH raised cash. The cash made it easy for CBEH to buy from the big four Chinese oil companies and through shrewd trading enjoy excellent profitability. You blew it, your investment analysis is worth no more than Carne's videos, the bio diesel business created great tax advantages which all companies strive for. Your obfuscation of the facts is obvious and I am certain the Judge will see through the continued action of the shorts. Keep it up because it is great evidence for the court. If it's bio diesel you were after, go find it, if you can.
So you have no credence in the 2011 10K with $146 million in cash and minimal debt, The KPMG statements were affirmed with no changes, exactly which red flags are you referring to, if Carnes' flags, then you can be a witness for Carnes in BC. He is going to need them. Your tactics are akin to Carnes, create doubt, confuse and convince folks to sell.
The SEC through the wrongful demand to re audit 2009 and 2010 and now apparently demanding 10Q's as well that has stepped over the line.
The hearing will be held in early November and then the Judge will issue a ruling. Hopefully RBSM will finish whatever 10Q's they have to do by then.
Hopefully the four shareholders will sue the SEC for destruction of value.
A shady piece of work you are Furball, obviously you are trying to shake more shares out of the tree.
Carnes associate spent two years in a Chinese jail over similar videos and you hang your hat on them.The main business of CBEH has been oil distribution, bio diesel was a sideline that exempted CBEH from tax. Have you ever tried to minimize your taxes, if so how are you different from CBEH.
Is your real name Jon Carnes who faces three Judges in BC in a few weeks on fraud charges.
Nonetheless, given the need for speed, the Company did reach out to HHC and has
entered into an engagement letter with HHC.
Because RBSM has not completed its work on the outstanding quarterly filings,(3) HHC
has yet to commence its audit. Should this Court be inclined to take some action with regard to
the Companis registration, the Company respectfully requests that this Court choose instead to
suspend the registration for a period of time (for example, through the end of the year), to give
the Company that opportunity.
(3) RBSM's pace is not due to any delays on the part of the Company.
More interesting will be if the BABA underwriting team is looking for another BABA, since CBEH is actually a
fuels trading organisation using modern technology, it fits the model.
You betcha, and will he say I can do it too, you betcha.
Sen.Dennis Shea, Chair of the US- China Commission was on CNBC extolling the legalities of VIE's.
Will CBEH with probably $150 million cash when financials are filed within 42 days seek CNBC interviews, I hope so.