~ My plan for this tax season : 2013

HYST = "worthless stock" >> complete loss write-off .

BFAR = "worthless stock" >> complete loss write-off .

If either company "comes back" (ha-ha) , I will reverse the write-off .

GLTUs

I'm confused. Should I now do a total write off of HSYT for this tax year? Or is there a possibility of it "recovering"? Can the company still get back into the exchange - or is dead forever at this point? Advice appreciated.

~ Another Chinese stock failure = TAX LOSS

GLTUs

HSYT revoked:

http://www.sec.gov/litigation/admin/2013/34-71112.pdf

Who knows? The company obviously is still operating, shipping goods to the U.S., but has lost interest in filing reports with the SEC. We can only hope that for some reason, they decide to resume reporting.

Ironically, it may well be that since the company is doing well, and generating plenty of cash, they see no need for equity financing, and so no urgency to be a fully reporting company.

If they needed money, reporting would be essential, so they could sell stock, and raise funds.

What is the prognosis here? Is this now a total write off, or is there a possibility of recovery down the road?

I wonder how their pre hearing conference went today..

HSYT: SEC Admin Proceeding:

http://www.sec.gov/alj/aljorders/2013/ap-948.pdf

VERY SLIM HOPE The company has a year to get their affairs in order.. IMO
http://www.sec.gov/litigation/admin/2013/34-70456.pdf

UTRA Universal travel looks like has suffered the same fate..Was one of the ones that had a reverse merger around the same time as Hsyt..IMO

NO MORE CHINESE STOCKS FOR ME..HSYT CAN STILL BRING THERE FINANCIALS UP TO DATE DURING THE SUSPENSION PERIOD..IMO
ASIQ http://www.execjetmobile.com/

Hsyt sister company bfar is toast as well..CHGY another Chinese company just suffered the same fate. Check ASIQ an Australian company..Looks like its ready to explode after a long wait..

Schwab is now showing my HSYT shares with a number, rather than the HSYT symbol.

Not sure how that will affect trading, but it is not helpful. I sure wish they would get current.

It is very odd that they made the filing early in the year, and it appeared they were preparing to get filings current, and then---- nothing. Very odd!

Robt:
Agree with you.
I am hopeful this will get the company's attention, and they will resume filing.
No reason to file the revised filings earlier this year, if they weren't planning to resume regular fuiling. Not sure what happened, but I remain hopeful.

If they do begin filing again, the stock is worth at least 20 times the current bid, IMO.

Let's be serious.... The volume for HSYT between now and 10/3 would be the same regardless of any SEC suspension of trading.

Zero.

If anything, maybe it will cause the company to at least consider becoming current in their filings.

Or maybe they don't care.

But it goes back to the repeated question of why did they file some reports earlier this year if they didn't have the intent to eventually file all delinquent 10Ks?

HSYT has been puzzling us all for some time. No surprise it continues to occur.

I remain positive and sit on many shares in hopes of filings that align with their known shipments of products, a significant increase in PPS, and a big payday.

But don't we all?

~ "Grey Market" I believe ...

GLTUs

So are we back to trading this thing on the 10/3?

HSYT SEC Suspension:

http://www.sec.gov/litigation/suspensions/2013/34-70457.pdf

Order:

http://www.sec.gov/litigation/suspensions/2013/34-70457-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2013/34-70456.pdf

Sorry for the long delay in replying, work has been busy....

I still get shipment reports on a regular basis but they have changed the format of the emails and no longer give me details on all the shipments just that shipments have occurred.

Looks like I got removed as mod, probably because I haven't logged in for so long. I'm still holding and hoping....

I sure hope so. Been a long time in the waiting....would be awesome to see consistent reporting and get this thing back into the dollar(s) range

About time for a new report or two to be filed by Home System Group.

This is a $1.00 - $2.00 stock, once reporting is resumed.
They did file some reports back in February and March, indicating that restatements were on the way, and actually filed a restated 10K for 2011.
All that is needed then is to bring the reporting up to date, which should be relatively simple once the old reports are re-stated.

with the uptick in Chinese stocks recently, I look for Home Systems to file something soon!

MrDarcy, still seeing shipments? Anyone have any updates?

some activity in HSYT today--- FYI, I have been buying back in, ever since they showed they were serious about bringing their SEC filings back up to date.

Once they get the SEC filings current, this should be back to $1.00 or more. They clearly have been shipping products, and making money, even though their filings are delinquent.

HYST has lots of room to run, once everyone can see their situation more clearly

10K is coming





Well, so is Jesus Christ but I'm hoping the 10K comes first.

Made ya look :)

nice gain today on not a ton of shares. Any opinions on when they will release next set of info??

Good job for HSYT. There is another stock that will rise the same way.

HSYT: .18 bid .all I can say let this rise so I could sell some, former self bought some.

They need to get current with all filings and get the CE removed. Based on some research I did last night on shipments, I think 2012 should be a lot better than 2011 was and hopefully have a much better eps since (for better or worse) that seems to be the primary item people look at.

Then they need to keep current and (God forbid) actually communicate with their shareholders. Let's face it, it's gonna take a while for anyone to trust them again after this long silence.

There's no reason to think now that the further filings won't be coming sometime in the near future. I can see no reason why they would file 2011 financials and not file the remainder. What the reason for it happening now and what the reason for it happening at all is anyone's guess but it does appear they want to clean up their act.

After all that, it should start trading like a normal stock again, based on fundamentals and all that good stuff. Until then, it will probably move rather hesitantly like it is now. But some life is better than none!

So where do you think this goes from here?

Well as of the close of last year equity per share is about 85 cents. I don't see why this shouldn't be trading around that price now. Will it, who knows. It will be interesting to see if 2012 numbers improved over 2011, like I believe they did.

About the same amount here....

So what's your take on things? Where do you think things will go from here?

Been here a couple years. Only holding about 90k shares, but it'll do

Link to HSYT 10K submitted today:

HYST 10K

This is indeed exciting news. After waiting all this time, didn't really expect to see the filings start to roll in this quickly (i.e. from their previous 8K)

Took a quick read through the 10K. Sales were down but I don't think that's a huge surprise as the economy tanked pretty bad.

Getting filings up to date and getting rid of the dreaded CE are first and foremost. Wasn't really sure I'd ever see this day!

I know I've said it many times before but this is one of the few (if not only) Chinese RTO's that has sales that are proven by US customs data, not just made up numbers like so many have been burned on before. Having said that, they still have a long ways to go in assuaging investors after going dark for 2 years - it will take time for many to trust in them again but hopefully they work hard to make it work.

There's a few others on this board like me that have held this stock for a long time and had pretty much given up. Beginning to think that our time has finally come!

Haven't had time to go thru it yet....I just saw it posted.

Least we also have a very current O/S count as well....

"There were a total of 67,490,166 shares of the registrant’s common stock outstanding as of December 31, 2012."


Hsyt!

Yeah I'm interested to see what 2012 numbers look like as well. 2011 was a drop off from 2010, but still very very good. considering the market cap here is about $8 million lol

HOLY SH&$!!!!! I knew the filings would start rolling, but it's been so long it still took me by surprise.


Very impressed as this should be just a start of a string of filings to come.

Man o man it took em long enough!lol!


Hsyt!

10K Out

given the fact that the last reporting is a century ago and a lot may have happened I think no serious guess can be made.

looking at other "inactive" chineses small caps the valuation multiple still is low, so for me the decisive factor is wether HSYT will accompny the reporting with some shareholderfriendly action alongside.
Antoher aspect: is the market after such a long time of passivity clean of speculators or will anybody use the opportunity to get out after being frozen for a long time?

No idea about it.

Just wait and see, I have written down my investment and accordingly am patient for things to come.

anyone have an opinion on how high this may go with the recent 8K??

LOOKS LIKE Anyone that wants to get a position is going to have to pay a lot higher PRICE

"The Company will file amendments to the 2010 Quarterly Reports to restate the unaudited consolidated financial statements included therein, as well as its Annual Report on Form 10-K for the years ended December 31, 2011 and 2010, as soon as practicable, and thereafter will file all other reports required to be filed under the Exchange Act subsequent to December 31, 2010."


By far the most important part of todays 8-k ! Any yeah, let's hope it doesn't take another year to accomplish!



HSYT!!

Seems like a pretty positive filing. At least they are finally getting their heads out of their butts.

Here's to hoping it's not another year before we see the restated filings.

~ Yep , gettin' it done , it seems .

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9123090

Waiting continues ... GLTUs

Form 8-K for HOME SYSTEM GROUP


--------------------------------------------------------------------------------

28-Feb-2013

Non-Reliance on Previous Financials, Audits or Interim Review



Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Reviews
In connection with Home System Group's (the "Company") efforts to resume filing reports under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and during the course of the audit of its consolidated financial statements for the years ended December 31, 2011 and 2010, the Board of Directors of the Company concluded, based on the recommendation of its accounting staff and management, that the Company's unaudited consolidated financial statements as of and for the quarterly periods ended March 31, 2010, June 30,2010 and September 30, 2010 (collectively, the "2010 Unaudited Quarterly Financial Statements" ), which were included in the Company's quarterly reports on Form 10-Q for the quarterly periods ended March 31, 2010, June 30, 2010 and September 30, 2010, respectively (collectively, the "2010 Quarterly Reports") need to be restated to adjust the timing for the recognition of revenue from sales to one of its distributors (the "Distributor"), as discussed below, and that investors should no longer rely upon those quarterly consolidated financial statements.

The Company has changed the methodology by which it recognizes revenue from the Distributor. The payment terms provided to the Distributor enabled the Distributor to defer payment until it receives payment from its customers. As a result of this change, the Company records revenue pertaining to product shipped to the Distributor only after the Distributor receives payment related to those products from its customers. Such payment to the Distributor typically occurs within 120 days of the date that the Company has shipped product to the Distributor. Previously revenue was recognized upon shipment of product to the Distributor.

Revenues pertaining to products sales to the Distributor in 2011 and 2010 were $33,179,820 and $52,581,904, or 35% and 50% of the Company's 2011 and 2010 product sales, respectively. The cumulative Net income effect of this Change in Accounting of $2,859,337 for the years ended prior to 2010 is reflected as a decrease in retained earnings as of December 31, 2009. Upon filing of its Report on Form 10-K for each of the years ended December 31, 2011 and 2010, and quarterly reports for each of the quarterly periods within 2011 and 2010, the Company will evaluate the impact of this change in the methodology for recognizing revenue from this Distributor to determine whether it is appropriate to restate any of its financial statements for years prior to 2010.

As a result of the change in the methodology of recognizing revenue from the Distributor, the Company's revenue recognition policies now are in compliance with FASB ASC Topic 605, "Revenue Recognition". Revenues from sales of the Company's products to its customers other than the Distributor are recognized when the significant risks and rewards of ownership have been transferred to the buyer at the time the products are shipped to the Company's customers, the price is fixed or determinable as stated on the sales contract, and collectability is reasonably assured. Customers do not have a right of return on products shipped. For products the Company sells to the Distributor, in addition to these requirements, the Distributor must receive payment from its customer before the Company recognizes revenue on products shipped to the Distributor. There are no product returns to the Company, and there are no post-shipment obligations, price protection or bill and hold arrangements.

The Company will file amendments to the 2010 Quarterly Reports to restate the unaudited consolidated financial statements included therein, as well as its Annual Report on Form 10-K for the years ended December 31, 2011 and 2010, as soon as practicable, and thereafter will file all other reports required to be filed under the Exchange Act subsequent to December 31, 2010.

Ahmed Mohidin:

Here's a face to the name: http://bcf-consulting.com/clients/LVIIC-TEMP/index.php/en/conference-speakers/item/86-ahmed-mohidin

2013 Auditors

Sent this email to Ahmed Mohidin of Goldman Kurland Mohidin LLP simply saying:

Greetings,

I am an investor in stocks and was wondering if your firm is still the auditor for Home System Group?

Thank you,
(Blank)

The response:
Yes, we are.

Thanks

It's interesting to point out that he was response in less then 10 minutes.

So based on this it appears as though HSYT still has an auditor for now.

So what's your point?

So what's your point?
(The same question can be asked of Toucan as well.)

~ A little activity brewing here today ...

GLTUs