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As you might notice, my greivances with Wall Street go a little beyond the sophistication of the failed OWS movement.
Maybe you can tell me why so many companies change directors, and nobody files a Form 3, or Form 4? Is the SEC sleeping on the job or too busy shopping on Amazon and downloading NBA scores?
You're probably right, but some companies have it written in their by-laws, that their shareholder books are open to anyone who cares to visit their business office.
To me, it's a question of honorable service. What do they have to hide? In most cases, it's just going to be a list of brokerage houses, because most shares are held in "street name" these days.
If a big holder wants to protect his name, his simply leaves the shares deposited at his broker. No big deal.
It's really hard to trust Wall Street when the CEO's don't want the names of brokerages released. Obviously, the brokerages would understand which information to pass on to the holders, and which is simply pestering and irritating.
Probably not an item most companies would share. Besides, I doubt any shareholders knew what Chin had plans for when he bought the shell.
I wish I had asked Klinicki for a list of shareholders when he was still in charge. They just maybe I could get a hold of somebody.
It's the same address I used. It's not an effective legal notification drop. The drop is clearly not maintained to the standards required to pick up a "registered letter."
If the SEC uses regular mail, they might get a pick up after a few months? IDK. I just know that my letter was returned with a bunch of Chinese writing on it.
English translation: Unclaimed. So the drop might work, but not in a timely fashion.
oops, sorry for the 3 same posts.
SEC has this:
Business Address ROOM 2303, 2304 SHENFANG SQUARE 3005 RENMING ROAD SOUTH, LUFUNG DISTRICT, SHENZHEN, F4 518001 86-13168096855
NV SOS has this:
ROOM 2303, 2304 SHEN FANG SQUARE 3005 REN MING ROAD SOUTH
LUFUNG DISTRICT SHENA
518001
Looks the same. So that's good. Someone updated the SEC info.
SEC has this:
Business Address ROOM 2303, 2304 SHENFANG SQUARE 3005 RENMING ROAD SOUTH, LUFUNG DISTRICT, SHENZHEN, F4 518001 86-13168096855
NV SOS has this:
ROOM 2303, 2304 SHEN FANG SQUARE 3005 REN MING ROAD SOUTH
LUFUNG DISTRICT SHENA
518001
Looks the same. So that's good. Someone updated the SEC info.
SEC has this:
Business Address ROOM 2303, 2304 SHENFANG SQUARE 3005 RENMING ROAD SOUTH, LUFUNG DISTRICT, SHENZHEN, F4 518001 86-13168096855
NV SOS has this:
ROOM 2303, 2304 SHEN FANG SQUARE 3005 REN MING ROAD SOUTH
LUFUNG DISTRICT SHENA
518001
Looks the same. So that's good. Someone updated the SEC info.
Why do you think I am so actively searching for names on the contact lists?
The SEC seems as effective at tracking asset movements as Obamacare is at administering health programs.
I have return mail from the address they gave on the last 10K.
They may have a perfectly fine drop box, but "Registered Mail" must be picked up within several days of notification. Their drop isn't working.
I didn't check yet, did the company update it's contact information through the SEC (on SEC website), or did it just update the NV SOS info?
BTW, The SEC will suspend a stock if they can't reach them through the companies listed mailing address.
They don't do any additional research. They send a few warnings, and then they "temporarily" suspend the stock. The suspension becomes permanent if there is no response to the suspension, even if the company has active directors and a resident agent in Nevada.
And in the recent suspension of my MLDS, even if the company showed $6.1 million of Real Estate, and hardly any liabilities on their last SEC report. The shareholders seem to get nothing, and no impetus from the SEC to follow up on "abandoned" assets.
The updates to the Nevada SOS site were a huge step forward...it does give hope. The company would have to re-audit at least 2 years with a new auditor...but being a shell company that shouldn't be too hard. It's doable. The shell will have value as long as the stock is trading and it doesn't loose DTC eligibility...or at least the ability to gain DTC eligibility back. It gets a little complicated in that.
I suppose they will have to address that.
It would seem they have the players capable of doing it.
It's just going to be more difficult if they don't get on it.
It's not really trading anyway, so I suppose a suspension won't matter to us. It's just more paperwork. The SEC is cracking down on delinquent filers. No buyers and no sellers seems ridiculous.
I cringe every time the quarterly deadlines go by, and continue hoping.
An active shell has value. An inactive shell with no filings and no auditor? At least the people have names, and seemingly good ones to defend.
Actually, here's the info I figured and proves to be true:
http://pcaobus.org/Enforcement/Adjudicated/Documents/Lee.pdf
As I said before, I'll really get excited when I see a change in auditors. Right now I see they are using a one pony firmed named Stan Lee:
I dont even see him listed here any more:
http://pcaobus.org/Registration/Firms/Pages/RegisteredFirms.aspx
Also, notice a trend here?:
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=3536359
Stan J. H. Lee, CPA Key Developments
Imogo Mobile Technologies Corp. Announces Auditor Changes
Oct 8 13
On July 31, 2013, Imogo Mobile Technologies Corp. dismissed Stan J.H. Lee, CPA, as independent registered public accounting firm of the company. On October 5, 2013 (the "Engagement Date"), the Company engaged Kenne Ruan, CPA, P.C., as its independent registered public accounting firm for the Company's Quarter Filing for August 31, 2013 and will remain as its independent auditor for future filings. The engagement of Kenne Ruan, CPA, P.C. as the Company's independent registered public accounting firm was approved by the Company's Board of Directors, which performs the function of the audit committee.
Gold Dynamics Corp. Announces Auditor Changes
Oct 8 13
Gold Dynamics Corp. announced that on July 31, 2013, it dismissed Stan J.H. Lee, CPA, as independent registered public accounting firm. On October 5, 2013, the company engaged Kenne Ruan, CPA, P.C., as its independent registered public accounting firm for the company's year end filing for July 31, 2013 and will remain as its independent auditor for future filings. The engagement of Kenne Ruan, CPA, P.C. as the company's independent registered public accounting firm was approved by the company's Board of Directors, which performs the function of the audit committee.
Razor Resources Inc. Announces Auditor Changes
Oct 8 13
On October 5, 2013, Razor Resources Inc. has dismissed Stan J.H. Lee, CPA, independent registered public accounting firm. The reports of Stan J.H. Lee, CPA, on the company's financial statements as of and for the years ended April 30, 2013 and 2012 contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle. Stan J.H. Lee, CPA's audit report of the company's financial statements for the years ended April 30, 2013 and 2012 included language expressing substantial doubt as to the company's ability to continue as a going concern. Inasmuch as the company do not have an Audit Committee, Board of Directors participated in and approved the decision to change independent registered public accounting firms. During the years ended April 30, 2013 and 2012 and through October 5, 2013, there have been no disagreements with Stan J.H. Lee, CPA, on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements if not resolved to the satisfaction of Stan J.H. Lee, CPA, would have caused it to make reference thereto in connection with its report on the financial statements for such years. The company engaged Kenne Ruan, CPA, P.C., as its independent registered public accounting firm for the company's Quarterly Filing for October 31, 2013 and will remain as its independent auditor for future filings. The engagement of Kenne Ruan, CPA, P.C. as the company's independent registered public accounting firm was approved by the company's Board of Directors, which performs the function of the audit committee.
The connections seem to work. Master's Degree (Chin) + Billionaire(Zhang) + PRC Secretary (Meng)
IDK?
I'm thinking they can afford the legal team to reinstate the registration after the SEC suspension they seem to be begging to get.
We're now six quarters delinquent, right?
It's almost comic irony that the CEO is asking to merge with a company that has audited books, per the 10K, filed almost two years late.
Interesting, thanks. I wonder if that's the same QINGYU MENG.?
Just picked up more reference on CEO.
http://www.reuters.com/finance/stocks/companyOfficers?symbol=601668.SS
They really need to get those cookies in the oven.
I was hoping to see most of them before this deadline.
Yuck.
Even those should be pretty mundane until they find a merger partner. They need to get them filed. Cookie cutter stuff. Same as last year.
Let's hope 2012 staements are a primer for 2013. 'Til then, yawn.
Speaking of polish, I think those transactions appeared in somebodies quarterly window dressing.
Unintended consequences. I really just wanted to give Meng a little reward for finally filing his 2012 statements. I didn't actually want to pay that much until he filled in some more Q's.
Don't sell too low. I think Chin and Meng paid about $22.50/sh to do the takeover.
It's been a long time, so my memory is a bit faded.
It looks like I took the MM's out of the game completely.
Those are my buy and sell orders.
I figure if he play his little game of buying only one share, I still make a buck.
I'll sell the MM my 261 shares for $45!
Bid/Ask Bingo?
How about we start the week at 2.50 x 50.00?
I had a fun week, but I don't think I can keep it going. Yes, I am hoping that the "polish" will wake up the principals, and give them hope that they can merge with a valuable company.
I am not ready to spend a lot more money to make that happen. I sold 45 shares at $5.75 today, under the radar, so my wake up call cost me $214, and netted me 55 shares. That's $3.89 a share.
lol. I appreciate the portfolio polish, but let's hope there's some real action with this shell soon. It's been idle long enough.
That's another reason I sent the wake up call. This board is so boring.
Potse came up with some good info on management changes, and we've been batting around the possibility that the new CFO is a multi-billionaire, or a different John Smith.
There were just so many reasons, I couldn't sit there at $2.50 for another week.
I just dusted off my 261 shares still lurking in the dark corners of my portfolio. No need to sell here. Let's hope for some positive action in the near future.
One little tip. A lot of shares will be tied up in trusts and estates. Us old guys are dropping like flies.
The float is much smaller. Chin and Meng own most of the shares.
"As of August 5, 2012, the registrant had 49,896 shares of common stock outstanding (giving effect to the 1-for-46 reverse stock split which took effect on June 29, 2010"
They need to maintain over 50% for control.
I think the public float here is about 47k shares. I have about 2k of them.
Oh, BTW; I think this stock became marginable, and my buying power skyrocketed.
I hate renewable energy companies, but thanks for the tip.
I own KOL.
no way i bought another pos STLK
Was that you trying to buy them back at $2?
Where is the bid support? Did you lose confidence?
i sold 60 at 6 usd
BTW, Nice trade. I just wanted to trigger the portfolio value of the large holders. I am not on a buying spree. I just want to see if there is anything out there, including a CEO who is looking to merge with another company of value.
100 shs? Did the R/S leave you a few spares?
I tried to buy up to 160 at $4.75 to take out the fractions.
I only got 100. I figure the computer was covering his short for a loss.
Welcome to the classic story of man vs. machine, with a Red Chinese twist. LOL
At $2, I thought first, you wanted them back.
Now I realize it's just a foolish computer program.
He thinks I am going to give him back the ones he sold me for $4.75.
Nobody sold me any at $2.50 for about 2 months. Silly computer.
Now, that's better. I waited 2 months at $2.50, and some clown thinks I'll let him have them for $2.
Ok, then. If that isn't you; We're going to play leapfrog.
I had a feeling you would support the bid at $2.
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9181 S Antler Crest Drive
Vail, AZ 85641
(520) 275-8129
Company Website: http://www.cienegacreek.net
SHARE STRUCTURE: Confirmed by CEO on 12/01/2009
Authorized Shares 75,000,000
Outstanding Shares: 2,294,250
Float: 895,250
From Website:
LETTER TO SHAREHOLDERS
December 13, 2009
To our shareholders,
Recently we provided the following corporate update:
The management of Cienega Creek Holdings, Inc. is pleased to
announce that the company’s Board of Directors has agreed, in
principle, to a majority ownership purchase of the Company’s common
stock. The Company is in the final phases of the transaction. The
expected buyer is one of Wall Street’s most respected and successful
consulting firms. Baring any unforeseen circumstances, this
transaction is expected to occur within then next 10 days. Additional
information, as required, will be made available in our public filings at
Due to a delay involving a third-party to the transaction we now expect to close the
purchase after the date previously announced. Both the Company and the buyer have
agreed to the delay. The terms of the agreement remain the same. We expect to provide
our shareholders with another update before the end of month.
Sincerely,
Cienega Creek Holdings, Inc.
LETTER TO SHAREHOLDERS
November 27, 2009
To our shareholders,
The management of Cienega Creek Holdings, Inc. is pleased to announce that the
company’s Board of Directors has agreed, in principle, to a majority ownership purchase
of the company’s common stock. The company is in the final phases of the transaction.
The expected buyer is one of Wall Street’s most respected and successful consulting
firms. Baring any unforeseen circumstances, this transaction is expected to occur within
the next 10 days.
Additional information, as required, will be made available in our
public filings at: www.sec.gov..
We thank our shareholders for their loyalty.
Sincerely
Cienega Creek Holdings, Inc.
Stock Transfer Agent:
100 Second Avenue South, Suite 705-S
St. Petersburg, FL 33701
(727) 289-0010
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