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maybe this can be put into the Chinese Scam category?
A company this big just disappearing??
September 30, 2011 December 31, 2010
Cash and cash equivalents $ 3,151,513 $ 3,156,242
Restricted cash 93,541,765 57,718,999
Accounts receivable 26,599,702 19,903,437
Inventories 16,801,285 10,306,029
Prepayments for goods 14,802,873 15,782,623
Other current assets 11,378,225 22,658,181
Total current assets 166,275,363 129,525,511
Plant and equipment, net 72,859,503 74,428,715
Construction in progress 61,465,310 32,151,137
Due from related parties 29,178,040 17,679,267
Other long-term assets 4,418,809 4,242,429
Total long-term assets 167,921,662 128,501,548
Total assets $ 334,197,025 $ 258,027,059
Accounts payable $ 14,242,514 $ 4,972,972
Short-term bank loans 47,365,534 47,593,169
Notes payable 123,756,649 75,546,569
Current portion of long-term bank loans 10,957,189 5,831,080
Other current liabilities 24,599,531 13,274,753
Total current liabilities 220,921,417 147,218,543
Long-term portion of financial obligations, sale-leaseback 5,677,673 10,391,835
Long-term bank loans 12,052,908 19,613,634
Total long-term liabilities 17,730,581 30,005,469
Total liabilities $ 238,651,998 $ 177,224,012
Sounds good E, glad to see you still on top of this for us.
I found out even though they've gone dark CHCC is still required to have an annual shareholders meeting. Also was told that eventually they will have to address the float in order to clean up ownership but that time is on their side.
I Have Officialy Put This In The Chitpile..
Will This Be Another That My Broker Says...
Mmmmmmmmmm...... Gone ???
they must have lost there url to someone else.
But it appears to be real estate related from what I saw, picture wize.
go to chinachemicalcorp.com
site back up and it's in chinese now.
Exactly what EB just said. There's nothing to report, best chance is to call the bod or ceo & try to pry info from them. Sorry, wish I could tell you more.
Nothing heard from the company. Nobody here to blow smoke to make you happy, sorry.
So by now no one's replied to my last posting. It's truly beyond frustrating not knowing anything whatsoever. I must go by the assumption that someone, somewhere out there know something... this is my last plea for that someone with the wisdom and knowledge as to the situation at hand reply as to what's happening and what the future beholds for us the "outside" shareholder/owners of the company. The company can eradicate all the dissatisfaction, distrust and disgust by opening themselves up and playing fair with us (the outside shareholder). Our shares should be worth every penny of what they represented when they were traded at their highest PPS and a whole lot more today as the company itself has been very successful growing the business profitably.
Right, def not going anywhere until there is a PR or material event...could be tomorrow or next year...who knows...but company is still alive and well
I have not bought yet.
Still on my list.
U still holding this Lorel?
Anyone have any knowledge as to the status of the court case? Where this PAMCO is located/domiciled, and is there any information available on them? I have not been able to find out much about anything of recent... anyone here know anything as to what's going on?
Good post, 100% agree w ur thoughts. I know one thing, I will be holding all my shares until either there is another buyout or the share price breaks above $1
I do wish we could atleast get a hint of the pamco issue & where it stands, if we don't hear anything by this winter, when I get alil less busy, I will make it my mission to extract some info & post it on the board.
Wish all goodluck who hold CHCC
Good post, 100% agree w ur thoughts. I know one thing, I will be holding all my shares until either there is another buyout or the share price breaks above $1
I do wish we could atleast get a hint of the pamco issue & where it stands, if we don't hear anything by this winter, when I get alil less busy, I will make it my mission to extract some info & post it on the board.
Wish all goodluck who hold CHCC
That phone number is not for Jane Wu, it was for someone else by the name of Cathy (if my memory serves me right). She said she had not had any contact with the company for the past several months and could not supply any information what-so-ever. This entire lack of concern and obligation displayed by the company date to it's shareholder-owners is simply abominable to say the least. If this is entirely due to the PAMCO issue shouldn't we be informed as to what is actually going on? And even if it were upheld by the chinese court should there be liablity on the part of PAMCO and the company itself? I sure hope they come to the conclusion that morals and ethics are more important than lies and deciet.... The company should redeem these shares for their full and fair value. $1.50 offer was ridiculous but it's alot better than where the shares are now with nearly no volume whatsoever. Anyone here with any information please post.
I spoke with her once and she really didnt say too much or provide too much in the way of explanations or information...
This is probably 7-8 months ago.
I'm sorry if that isnt more useful-I think the PAMCO situation is still ongoing and this company was very big on paper to just disappear the way they have from $6.00-$7.00 a share to just under 15 cents..
Just my guess....they probably arent all that concerned with OTC shareholders considering filings have stopped and not as much as peep heard from the company in a letter to shareholders or anything for some time?
A Longshot Maybe their somebody who speaks Chinese that looks at this board that could help get additional details- I think CHCC also went thru a few different attorneys who no longer represent CHCC- I think Jane Wu might be a consultant or something not sure?
Have u tried calling her lately or ever talk to her?
This number might work-
Jane Wu 617-283-3955
Not sure if she is still a contact for IR/Attorney or if she can provide any assistance.
The big Stop sign on OTC as they have had no filings for some time.
Too Bad... This seemed like a fairly robust operation to be sitting at these mediocre levels..
from the 2011 Filings 10Q- Seemed like assets were pretty big to just disappear...Chinese stocks have done this a couple of times
They should give us more than that but I will take anything at this pt now.
Has anyone ever tried calling or emailing this company?
I also wish to find out what is happening here???? The company from what I know is one which is very well run and quite profitable. They ought to at the very least update us as to the PAMCO situation.
The overall market has been very funky the past few weeks imo...I was really hoping to see more volume into this week but so far its been a dud...wheres the update? Anyone know whats going on here?
THE volume didnt continue- but sure hope we hear from the company soon- its been a loooonnnnnggggggg time since we have heard from them..
Lets go CHCC!! you shouldnt be a 20 cents a share company- I'll take a dollar per share... at this stage
Our patience should pay off soon if the volume continues this week & maybe we hear something from the company soon?
I needs to supplament my incomes.......... High Noon today was the last corp supper.
Sure could use some coins to build my pinkie empire.
Sure would be the best present i could ask for, maybe buyout back on the table?
If we get enough new buyers, the rules could drive them to a decission to relist or be forced to buy us out. Either way, I have been in before the buyout offer and would love to see this thing go before the end of the year, and what a xmas present that would be....!
I've been in it before the buyout offer - it would be fantastic if they popped that before the end of the year.
I agree!! or the $1.50 buyout will also go over well.
Hope they bring lots of friends.
more buyers arriving
still a few buyers out there it seams. two pennies in a week....hmmm
Anyone got any info/news..... eleniak????
would be nice to see this thing produce sometime soon !!!
not sure what is going on with PAMCO lawsuit but these Chinese companies in general can be difficult to understand- they can have a supposed 20-25-30 cents per share earnings and they trade close to the same price 20-25-30 cents..what gives
it would seem this company is big time undervalued but who knows what will happen? communicating to shareholders certainly doesnt seem to be a priority and the $1.50 buyout talk I hope isnt a pipe dream it sure would be good to see announced
I have been trying to find out about the PAMCO lawsuit. Have you any clue as to where the court documents can be located? Although this in and of itself should not be any reason why they have not fulfilled a buyout of the 'outside' shareholder. By becoming transparent and paying the few million $ then they can go private and later on relist on HK, China, or another exchange and at minimum quadruple their money. If you find out anything about this situation please post. GLTA, Steve
Agreed, good post. How do we find out about Chinese litigations? Is there public info on it? Exactly, ernie put a good article that would fit CHCC needs perfect but this pamco thing needs an outcome first. Either huge payday or bust, I think the longer it goes w/o any updates the more it seems this might bust but really only the insiders know, its is a good sign that SS is the same
I think we are in the gambling mode already, as the pps currently makes this virtually worthless anyway. nothing to do but hold and hope. I have a fair amount of funds tied up here. it would be good to either take the loss soon or get paid.
sounds to me as if there are loans available to companys to buy there stock back to go private. The issue left here is the litigation, unitl thats resolved there wont be any answers. we need to learn about the litigation and where thats at in order to persue this any further.
I am up for anything that may get us some answers here.
TIC TOC, The clock is running out!
Better dump now before our shares are worthless?
I'm a gambler and I still like the odds here, might pay out in the next few months/yrs. Just imagine when the PR hits that the buyout is back!
Lets get one of these directors on the phone, anyone up for this?
I talked to the T/A yesterday, no changes in share structure.
chcc web site is gone now, this really doesnt look good. hope you all are right that this will produce at some point.
I also am here till one of those 2 things occur. cant justify adding anymore at this point
AGREED, SOMEDAY WE MAY GET PAID, MAYBE BY THEN THE SHARES REALLY WILL BE WORTH $6/sh WOULDNT THAT BE SOMETHING!
IM HOLDING TILL EITHER 2 THINGS HAPPEN, I BET YOU CAN GUESS WHAT THOSE SCENARIOS ARE...
THERE HAS GOT TO BE VALUE IN THESE SHARES - NOTHING TO DO BUT HOLD AND ADD WHEN I CAN.
Kinda funny looking back on this now, Ah Sergeant Bilco?
http://www.redchip.com/files/redchipReports/CHCC_20110622_1Q11Update.pdf
Was this company really "allowed" to go dark in the first place?? IDN if I'm buying this crap, it seems to em there trying to go private again and flush out those so called "illegal"PAMCO shares from the market so they can tender an offer to all left over shareholders and go private this way...?
JMT
Procedures for “Going Dark”
To understand the “going dark” procedure, it is first necessary to understand what triggers Exchange Act reporting requirements. A company’s Exchange Act obligations can be triggered in any of three ways:
under Section 12(b) if it has shares listed on a national securities exchange;
under Section 12(g) based on having over 500 record holders of a class of securities and total assets exceeding $10 million3; and
under Section 15(d) by having a registration statement declared effective under the Securities Act.
Each of these three independent predicates for Exchange Act registration must be separately addressed as a company considers whether and how to “go dark.”4
http://www.dorsey.com/going_dark_voluntary_delisting_deregistration/
this is in no way! a typical penny stock.
the insiders own over 24 million of the 30 million o/s shares!
they will either merge or go private eventually, just trying to get the law suit with PAMCO over and done with. They went dark, not to screw shareholders, but to save a lot of money. No need to file when they no longer intend to be a public company.
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