China Electric Motor (fka CELM)

[rj44]

SCEI-Sino Clean Energy Ren is in jail in China. Seiden's efforts are starting to pay off. Hope we get a good settlement.

[rj44]

Any news?

[rj44]

I should have added check the yahoo board for more information.

[rj44]

There is a group forming that now has a total of over 1.1 million shares to contact CELM about getting our money back. We would like to have a larger group although we now have 5% of total shares. If you are interested please email CELOWNERS at aol. If any thing is going to happen with CELM we are going to have to start the ball rolling.

[Renee]

CELM revoked:

http://www.sec.gov/litigation/admin/2014/34-72829.pdf

[pepemartinez]

any new of these company??

it seems completely dead...

[pepemartinez]

WAOO I CAN'T BELIEVE THIS IS RECOVERING MY SHARES WHERE 0,24$

AND NOW 0,14 ONE YEAR LATER


WELL WHAT A PITTY I SOLD, BUY YOU NEVER KNOW TODAY YOU HAVE SHARES AND TOMORROW THERE CAN BE ALL CANCELLED, BUT SEE THE MANIPULATION 2800$ TRADED NOT?



A LESSON LEARNED HERE

[BreakoutÎnvestments]

Same here

[pepemartinez]

sold all with monster loss here but not my bigest loss

1250$ to the trash

one if this days this could be delisted and nothing

better 250$ than nothing


good luck...

[silvesterstrike]

news about celm?
what´s up?

[downsideup]

Limbo... ?

http://usa.chinadaily.com.cn/weekly/2012-06/15/content_15504017.htm

[downsideup]

Many if not most of the Chinese RM stocks have been trading higher, or trading quite a bit differently than they were. Some have rocketed higher, from pennies back into the multi $$$ range, because the shorts have come out and admitted error in wrongly bashing them, and have gone long. Others are "different" because the SEC removed them from trading after they failed to continue filing as required...

CELM seems it's stuck in something of a no man's land between them... not yet hung out to dry by the regulators... and not yet having done much to have proved the thing isn't a complete and total scam...

They were delisted by NASDAQ in June... and they clearly do have "issues" with some problems that they've had and appear to have persisted in refusing to address.

They've not been filing... since an 8K in September... not long enough ago that that will have the SEC act based on the lack of filings to delist them... yet. The last sets of 8-K filings were about a major shuffling of personnel on the board in response to the problems... resignations of the independent directors, etc.

It's not clear if the changes on the board that were made were "a fix" or if they were defensive moves made that allowed the sources of the problems on the board and the perps in management to mount a defense of the wrongdoers.

Haven't seen anything yet that makes it clear what the scope of the problem is, either...

Some of the Chinese RM stocks have been total scams... no real operations ever existed... and all the money there was got transferred to the execs bank accounts...

CELM doesn't appear to be one of those "total scams" that has nothing and never had anything real about it. Rather, it seems they are a company that DID have a major problem, but one of a significant, but still a more limited extent...

But, then, there isn't anything available that allows you to determine IF that is true... or, if it is true, what the nature of the fix made is, what the extent of the problems were, or are, and what that means is left, now, in terms of real value for CELM holders...

It might be worth zero... like some of the other scams... where in the aggregate Chinese scammers have robbed American investors on a scale that makes Bernie Madoff look like an rank amateur...

Wars have started over less...

Or, CELM might still be worth dollars per share ?

Who can tell ?

[ErnieBilco]

This is trading more regularly lately, WHY??

[pepemartinez]

what do you think MR guitar? I have some shares at 0,25$ and I don't know what to do now I prefer to wait months before average down


And I didn't pay 1$ or 2$ if not I would be really bad

but I still don't understand this company has a web page they sell motors and many models, they bought another company less than 1 year not?


how in the world can be CELM a 0,08$ stock is ridicule I don't know all the properties they have, but the whole company must more than 1 or 2 millions $ not?

opinions?

[Mr guitar]

This company has only a little over 20 million shares of stock. If the company were legit, what would stop anyone from buying the whole deal. At .08 a share it wouldn't take a lot of money to acquire.

[pepemartinez]

HELLO I HAVE 9000 SHARES AT 0,24$ AVERAGE I'M BIG BIG DOWN NOW


BUT WHAT HAPPENED YESTERDAY TWO BLOCK OF 125 AND 1000 SHARES WERE ENOUGH TO CRASH THE STOCK BELOW 0,10?? MANIPULATION??

I WILL LOAD ANOTHER 9000 MORE BUT NOW I PREFER TO WAIT FOR THE BOTTOM


COULD RECOVER TODAY TO THE 0,10 ZONE??

ANYONE MORE HAS AN HIGH AVERAGE HERE LIKE ME?


THANKS IN ADVANCE

[downsideup]

It's not just the lack of current info... it's the lack of anything that allows you to make an estimate of the scope of the problem. I get that there is a discrepancy between their filings and their bank account... but, is the issue that they grossly inflated the numbers in the last quarterly relative to what was true, of was the issue that the officers were embezzling... and, whatever the case... what was the SCOPE and SCALE of the problem ?

Right now... I don't know whether their filings are entirely fictional... or if the problem is limited to, say, 10% or 50% of assets ?

I've seen other companies have this sort of problem... including some NYSE listed issues... but, in those instances, when the executives were gone, and the board members were dismissed, their replacements got about the business of FIXING IT and restoring the ability of the markets to trust them...

FWIW, back in the day, I bought (super cheap) shares of a NYSE listed company (BCR) that had had flagrant issues with fraud in the management... because that was back in the day when it was a fairly safe bet that they were a real enough company, and that they would be forced to clean house and FIX IT... and would probably weather the storm...

Nowadays... ??? No way you can even tell who the players are. What I see looks like all the "good guys" just walked out... leaving the company solidly in control of the people who were the source of the problem... so, you can't trust that the changes that are reportedly being made are more meaningful than window dressing... Have the departures of officers and board members actually changed anything ? Or, is it just a rotation of personnel who are still working for the people who are the source of the problem ?

Is the business ongoing ? Or, was there never really a business ?

Who can tell ?

[roinor]

Another chinese co will go private like Harbin Electric... That's ABAT...

http://www.zqpt.com/en/News/ShowInfo.aspx?ID=52

Next could be CELM?

[TheFinalCD]

Electric~~~~ Vehicles!


Why We WILL Drive More Hybrids And Electrics, Like Them Or Not


http://autos.aol.com/photos/la-auto-show-green-cars/?ncid=webmail10

[roinor]

I would like to respond you're question so i'll share information I found out doing some research. Here are the steps I followed:

1) In January 11 we read that note: "China Electric Motor, Inc. Announces Acquisition of Shenzhen Guofa Optoelectronics Co., Ltd." Link: http://www.reuters.com/finance/stocks/CELM.PK/key-developments/article/2070578

2) After in March CELM publish 8k closing transacction. Link: http://www.faqs.org/sec-filings/110304/CHINA-ELECTRIC-MOTOR-INC_8-K.A/v213611_ex10-2.htm

3) At next link: http://www.gf-motor.com/g/ You have Shenzhen Guofa Optoelectronics website in chinese (of course I don't understand chinese). Anyway, if you select the list on the left side of the website you'll see that there are 6 option to choose, well select the second one and you'll be redirected automatically to CELM website: http://www.szmotor.com/index.html

Conclusions:

1) Once CELM signed transacction and published 8k Shenzhen Guofa Optoelectronics website updated his information showing that Shenzhen Guofa Optoelectronics is a CELM's subsidiary and that happened between March and now, so after all delisting process began.

2) Notice that they only have a good website in chinese version and not in english. Why? Well, all of Shenzhen Guofa Optoelectronics customers are chinese so it makes sense that they update that information more than to make hayppier some lost investor looking for some light in his doubts about China Electric...

3) I shared with you that information as you can see that there are som information about the company showing that there are business going on. That is one way and you should find your to make sure if CELM its a true or a fraud company... I'm doing my investigation, the information is out there... ;)

[ErnieBilco]

But we already knew that back in June.

[ErnieBilco]

Officially delisted from Nasdaq

http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=8180310

[ErnieBilco]

A couple of Form3 filings on the 23rd.

Looks like they want to get out from under the CE.

[ErnieBilco]

China Electric Motor Appoints New Board Members and Chief Executive Officer and Forms a Special Litigation Committee


China Electric Motor, Inc. (OTC-PINK: CELM), a Delaware corporation and China-based company that engages in the design, production, marketing and sale of micro motor products, today announced that:

•Mr. Yue Wang has resigned his positions as President and Chief Executive Officer of the Company and as a member of the Board of Directors of the Company (the "Board"), and Mr. Fugui Wang has resigned his position as Chairman and a member of the Board. They also resigned their respective positions with the subsidiaries of the Company;
•The Board has appointed each of Mr. Xiaohui Li and Ms. Xiaoying Zhou to serve as directors. As a result, the Board currently consists of three members -- namely, Mr. Xiaohui Li, Ms. Xiaoying Zhou and Mr. Liang Tang;
•The Board has appointed Mr. Xiaohui Li to serve as President and Chief Executive Officer of the Company and as Chairman of the Board, effective immediately;
•The Board has appointed a Special Litigation Committee to investigate the claims in the shareholder derivative suit recently brought against certain of the Company's former and current officers and directors and make a recommendation as to whether it is in the best interests of the Company to pursue, dismiss or consensually resolve the claims. The Special Litigation Committee currently consists solely of the newly appointed independent director, Ms. Xiaoying Zhou.
Mr. Li, age 36, served as Vice President of Changsha Electronic Inc., an electronics manufacturing company in China, since March 2006. Mr. Li served as administration manager of Hengfu Property, a real estate development company in China, from March 2003 to March 2006. Mr. Li obtained a bachelor's degree in communications in 2001 from Shaoyang Radio & TV University in China. Mr. Li has had no prior affiliation with the Company.

Ms. Zhou, age 34, has served as Senior Financial Management Advisor of Ping An Insurance Company of China Ltd. since March 2005 and served as that company's Customer Relations Manager from March 2000 to March 2005. Ms. Zhou obtained a bachelor's degree in Chinese in 1998 from Xiangying University in China. Ms. Zhou has had no prior affiliation with the Company.

The newly appointed Special Litigation Committee, currently consisting solely of Ms. Zhou, will investigate the claims in the shareholder derivative suit recently brought against certain of the Company's former and current officers and directors and matters related thereto, and will make a recommendation as to whether it is in the best interests of the Company to pursue, dismiss or consensually resolve such claims or other claims related thereto. The Special Litigation Committee has the power to retain counsel and expert advisors, as appropriate, to assist it in the investigation, gather and review relevant documents, including internal and publicly available information relating to the claims, interview persons who may have knowledge of the relevant information, and prepare a report setting forth its conclusions and recommended course of action with respect to the claims in the derivative suit or other claims related thereto.

[ErnieBilco]

Been watching this one for a while now, and think a starter may be in order if the price is right..... but what is right? Hard to tell without current info from the company.

[ErnieBilco]

Need to see if they follow up with more info to get rid of the CE

[ErnieBilco]

News out today on new BOD and not a word

[ErnieBilco]

I'm tired of not seeing current chart on here.

[Reeftanker]

Maybe getting their books in order and filing, along with a Good PR or two.

[jimbonano]

Anyone........

What contracts and/or corporate circumstances are in place that could drive CELM back up to early 2011 levels?

Thanks - Jim

[TexasTea666]

CELM could be good for a bounce. It's back down to it's open after hitting a high of $1.10 when it went pink on Tuesday.

[Renee]

CELM added to Pink Sheets effective June 14.

http://www.otcbb.com/asp/dailylist_detail.asp?d=06/13/2011&mkt_ctg=ALL

[Mr guitar]

CELM - Check out a stock with a similar situation - SDTH (I know this because I kept 10 shares of SDTH). That stock was trading in the mid 3's, was delisted and today it started trading on the pink sheets OTC and closed at around .27. One can not know what will happen to CELM, but my guess is that we could see something similar. The last I knew, SDTH was trying to do whatever was needed to stay compliant, but in my humble opinion, I don't see that the folks at CELM have any intention of doing that. It appears to me that they have had a number of opportunities to get to the bottom of whatever is the problem and they have blocked all attempts to do so. The investigative committee is disbanded, the Board is decimated and they have no auditor. This is one time that I really want to be wrong, but if they are delisted, there is always the chance that they will get it together and become listed again, but all of that takes time and the reputation of the stock has to have been badly wounded by this fiasco. And then, if they have not been reporting their actual earnings and have been overstating them, as been implied by some of the information in the SEC docs, and if they have been overstating them by a significant margin, then the stock will trade based on the acutal earnings and not what traders have been acustomed to in the past. And it is going to take time to repair their credibility. Does not look like a favorable scenario to me. I would like to be surprised.

[jimbonano]

What effect (if any) might something like this have on CELM ?


http://blogs.forbes.com/ericsavitz/2011/06/10/harbin-electric-says-ceo-reaffirms-24shr-takeover-bid/?partner=yahootix

Harbin Electric is a China-based producer of electric motors,

[Mr guitar]

SEC FORM 8-K 5/27/2011 James Lee, Tony Shen and Liang Tang resigned from the special committee - they disagreed with company officers and Directors as to the scope of the investigation.
SEC FORM 8-K 5/27/2011 Mr. James Lee resigned as Director and nominating committee chairman of the Board of Dir. - disagreement with Company management in handling the investigation into possible discrepancies concerning banking statements.
SEC FORM 8-K 6/6/2011 MaloneBailey resigned as auditor due to discrepancies noted in Company's bank records, the dismissal of PricewaterhouseCoopers' forensic audit and dissolution of the special committee of the Company's Board of Dir. In one of the lettes of resignation by a board menber, the board member stated that he believed that the bank discrepancies may be an indication that the accounting records of the Company may have been falsified, and the Company's management has not providedd a satisfactory explanation of the discrepancies.
SEC FORM 8-K 6/6/2011 Mr. Henry Sang fong resigned as CFO and Director of the Board of Directors.
SEC FORM 8-K 6/9/2011 Mre. Tony Shen submitted his resignation from the Board.

THIS IS A SINKING SHIP. GIVEN THE ABOVE, IT APPEARS TO ME THAT THE COMPANY MANAGEMENT HAS NO INTENTION OF LETTING ANYONE FIND OUT THE CONDITION OF THE COMPANY, SO HOW CAN YOU ACCURATELY VALUE THIS CONCERN. THEY GOT THEIR MONEY UP FRONT. THEY WERE ABLE TO PURCHASE A COMPETITOR TO OPEN UP A DIFFERENT AREA OF THE MARKETS FOR THEM AND ALSO PURCHASE PLANT AND EQUIPMENT TO INCREASE THEIR MANUFACTURING CAPACITY. THE SEC HAS VERY LITTLE POWER TO REACH INTO CHINA. THEY MAY NOT EVEN CARE IF THE STOCK EVER TRADES AGAIN. THIS WOULD BE AN INTERESTING SITUATION TO FOLLOW EXCEPT I STILL OWN STOCK IN THIS DOG!!!!!!!!!!!!!!!!!!!!!!!

[Reeftanker]

I doubt it if the two law firms can get enough stockholders to carry it through. I mean, who wants to sue someone they are invested in and null and void any chance of recovering any losses?

[jimbonano]

Is the class action suit going to sting them ?

[Reeftanker]

Looks like they finally filed... hopefully back to trading soon.

[jimbonano]

This is a disappointment - but it is now too late for me to sell.
So I will sit tight for now ............

China Electric Motor Receives Additional Non-Compliance Letter from Nasdaq

http://finance.yahoo.com/news/China-Electric-Motor-Receives-prnews-3948420881.html?x=0&.v=1

[Reeftanker]

Sounds like they are having trouble finding someone to take the lead role... maybe it'll eventually drop and we can get back to trading. Also, time is running out.

"If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653 begin_of_the_skype_highlighting 866-767-3653 end_of_the_skype_highlighting, or via e-mail at [e-mail]. You may also visit the firm's website at http://rosenlegal.com.";

[CHA$E]

'ut-oh'.... http://rosenlegal.com

The Rosen Law Firm, P.A. today announced an update on the class action lawsuit the firm filed on behalf of investors who purchased the securities of China Electric Motor, Inc. (Nasdaq:CELM) in the period from January 29, 2010 to March 30, 2011, to recover damages for violations of federal securities laws.

To join the China Electric Motor class action, visit the firm's website at http://rosenlegal.com, or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email [e-mail] or [e-mail] for information on the class action.

Since the filing of first-case by the Rosen Law Firm, China Electric Motor announced on April 11, 2011 that it is now the subject of a formal nonpublic SEC investigation into whether the Company had violated the federal securities laws. The announcement revealed that the Company received a letter from the NASDAQ indicating that the Company was not in compliance with NASDAQ rules because the Company had failed to, among other things, timely file its annual report with the SEC.

"We believe the latest announcement of a formal SEC investigation corroborates the securities fraud claims alleged in our class action seeking monetary relief for shareholders," said Laurence Rosen.

If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at [e-mail] or [e-mail]. You may also visit the firm's website at http://rosenlegal.com.

[Milo2]

Halter USX China Index...appropriately named, 'cause all the stocks get halted!!

[Milo2]

Pretty disappointing...

[basserdan]

New Day, New Chinese Blowup

By Karl Denninger
Posted 2011-03-31 09:40

How many of these does it take before our government puts a stop to all of these firms listings on our exchanges? Who's going to go to prison for allowing this fleecing?



The reason for the halt and tank? This on the wire:



"Discrepancies were identified by auditors during audit of 2010 financial statements"

http://market-ticker.org/akcs-www?post=183316

[BreakoutÎnvestments]

Wasn't going to

Now let's see what happens.........

[Renee]

CELM Halted by the Nasdaq :

T12 Halt - Additional Information Requested by NASDAQ
Trading is halted pending receipt of additional information requested by NASDAQ

http://nasdaqtrader.com/Trader.aspx?id=TradeHalts

[Milo2]

I'm in!!

[Milo2]

Are you buying more before earnings announcement??

[chrich12]

Here's Dexter Fongs contact info. He's been very prompt in the past answering my inquiries.

Dexter Fong
China Electric Motor
[e-mail]
Phone: [phone]
Fax: [phone]

[jimbonano]

I am trying to contact the company.

Anyone have the investor-relations email or US-Based phone number ?
What about the URL for them homepage ??

Thanks
Jim