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CHRN SEC Suspension for Financials / Filings delinquencies:
https://www.sec.gov/litigation/suspensions/2016/34-79143.pdf
Order:
https://www.sec.gov/litigation/suspensions/2016/34-79143-o.pdf
Admin Proceeding:
https://www.sec.gov/litigation/admin/2016/34-79144.pdf
Happy 2011! What happened here yesterday? Nice jump.
cw
News?? What's going on with this one? Thx
cw
CHRN been quiet for a long while now. Hope to hear some news shortly on the new direction.
Stockholders Equity
On November 13, 2006, we acquired all of the outstanding capital stock of China Organic Health Products, Inc. (“China Organic”). In connection with the closing of the acquisition (the “Share Exchange”), we issued to the shareholders of China Organic (a) 27,486,175 shares of common stock and (b) Series D Preferred Stock, which was convertible into 469,760,000 shares of common stock. As a part of the merger, we changed our corporate name to "China Huaren Organic Products, Inc. from Ultradata Systems, Inc. " In addition, we effected a 1:39 reverse split of our outstanding common shares and an increase in the number of authorized shares of common stock from 50,000,000 shares, par value $0.01 to 100,000,000 shares, $0.01 par value. After recapitalization, the Series D Preferred Stock was converted into 12,045,128 common shares, and there were 14,699,853 common shares issued and outstanding, par value $0.01 on September 30, 2007.
www.sec.gov
Accounts receivable
During the first quarter of 2007, the Company, facing an imminent expiration date on organic crops that it had received from Wancheng, sold those crops at cost to Yushu Wanli Co., Ltd (“Yushu”) pursuant to a sales contract. This sale on March 15, 2007 increased the Company’s accounts receivable by approximately $5,380,185 (equivalent to RMB 40,312,786), which included the merchandise price plus VAT and other sales taxes. Yushu Wanli Co., Ltd. is a non-related third party. Based upon the sales contract, Yushu started to pay the amount due to us in May 2007. As of September 30, 2007, the outstanding balance due from Yushu was $4,445,958 (equivalent to RMB 33,312,786). It represented all of our gross accounts receivable balance as of September 30, 2007.
Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date:
November 19, 2007
Common Stock: 14,699,853 shares
On November 16, 2007 China Huaren Organic Products, Inc. (“China Huaren”) and its subsidiary, Jilin Province Huaren Organic Products Co., Ltd. (“Jilin Huaren”) entered into an agreement titled “Agreement Regarding the Collective Responsibilities of the Contractors” (the “Agreement”). The counterparties to the Agreement were Haizhen Li, Daiwei Zhang, Qinrao Shi, Xiufang Zhang and Shouyu Lian (the “Managers”). The Agreement provided that:
·
Haizhen Li will be appointed as Chief Executive Officer of Jilin Huaren for the term of the Agreement.
·
The Managers will be responsible for the management of Jilin Huaren, subject to the right of the Board of Directors of China Huaren to terminate the Agreement in the event of a breach.
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In compensation for their services, the Managers will be paid an amount equal to the net after-tax earnings of Jilin Huaren less the amount of annual net after-tax earnings shown below in Renminbi (“RMB”). Currently, the exchange rate for RMB to U.S. Dollars is approximately 7.5.
chart here --> http://pinksheets.com/edgar/GetFilingHtml?FilingID=5559497
China Huaren will adopt a stock option plan authorizing the China Huaren Board of Directors to issue five million shares of China Huaren common stock. At the request of the Managers, the Board will issue up to one million shares or options for shares to the Managers or their assigns. Also at the request of the Managers, the Board will issue up to four million shares or options for shares to individuals who are acting as sales representatives for Jilin Huaren.
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The Managers will not be permitted to sell more than 200,000 China Huaren shares in any 12 month period.
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The Managers will indemnify Jilin Huaren against any liabilities it incurs during the terms of the Agreement that are not satisfied from revenues.
·
The China Huaren Board of Directors may terminate the Agreement for cause if the net after-tax earnings of Jilin Huaren for the period from August 1, 2007 to July 31, 2008 do not equal or exceed 12,350,000 RMB (i.e. approximately $1,650,000). If the Agreement is terminated for cause, the Managers shall return any China Huaren shares they have received.
·
Unless terminated for cause or due to a breach, the Agreement will terminate on December 31, 2011.
CHRN had good numbers again. This just needs to be promoted some and it will fly IMO. No news for 10 months now and trading over a dollar. Just needs some love.
TRading real nice so far today
This ones got $5.00 written all over it. These low float Chinese stocks move up on very little volume.
LOL
need to tighten up the spread some and release some news. This company hasn't released anything since it's reverse merger
This is a profitable company yet there is no activity here whatsoever. This company just needs to be found IMO
Just needs a little volume. some news about the company would be fantastic. Kind of wonder what their motivation was to go public if they don't put out any news.
Just wondering
Yes, Tuesday's move was exciting and I wasn't here lol. I have been following this since the R/M and am quite happy so far with what has transpired. I am hoping we see some news soon and really get this thing going.
OH SCREW THE SHAREHOLDERS
this is what they did!
BOTH a reverse split of its outstanding common shares and an increase in the number of authorized shares of common stock
WHAT A SHAME
WHAT A POS!!!
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