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A Morgan Stanley connection to GCHT:
From Yahoo poster "inavybean":
"Look at what we have here. For those doubters:
1. Read the 8K SEC filing here:
http://biz.yahoo.com/e/091105/gcht.ob8-k...
2. Note the director, Chris Walker Wadsworth
3. Now visit Ceyuan Venture's board of director website:
http://en.ceyuan.com/newEbiz1/EbizPortal...
4. Chris Wadsworth's father is Jack Wadsworth who is Co-Founder and Special Director of Ceyuan Ventures. He is also a Co-Founder and Managing Director of Manitou Ventures. He is the Honorary Chairman of Morgan Stanley Asia and an Advisory Director for Morgan Stanley & Co. Incorporated (“Morgan Stanley”) globally.
5. For those who do not know Ceyuan Ventures, please do a Google and you will see it is one of the most respectable VC's in China. Obviously they are involved enough to actually feel the need to have one of their own on the board of GCHT.
Certainly looks legit to me now"
@ Gorilla
Absolutely - no way $7 million for those hands
lol.....what a huge MISS, scamexposer.......HUGE........
Sammy...dont look now GCHT $3.26 what happened to you blown weekend of bashing all for nothing?
@FP I've only seen his hands... I've supersized the photo using Cntrl + on browser and disappointingly, he hasn't got manicured hands. If I was paying 7 million I think I would want someone with manicured hands.
Chands hands...
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43423466
rich
@ Gorilla
Yes, but then they wouldn't get to meet freshly minted MBAs out of the nations top business schools, wearing their ties just so!
(Or is Chad a sharp dresser too?)
FP - Yup, the 7 million ending up in preveious owners pockets would have been my guess. Wall Street makes it's bread and butter out of ripping off companies.
Funny thing is they could make their own shells quickly and cheaply and reverse into them, according to Mr Sykes... and he seems knowledgable about it all.
rich
O.k., the insider ownership of ~55% of GCHT's shares as filed with the SEC checks out. The shares are held by Golden Wind Holdings in a voting trust. These shares are locked up for two years until Sept. 30, 2011 and may not be sold by the insiders during that time.
The free riders with their close to 7.7 million shares of GCHT continue to be unidentified; by logic they would have to be prior officers and directors of the former shell Vista Dorada Corp.
This is of no concern to us minority shareholders. But I am amazed that Lucky Charm did agree to such an extravagant number of free loaders to retain their shares while contributing essentially close to nothing to GC China Turbine Corp.
The SEC filings on Nov. 9, 2009 about ownership positions are helpful; I will still have to check a few details.
It is now easy to see how Golden Wind Holdings is holding close to 55% of the shares; so the financing package of ~ $19 million was part of the calculation all along.
As a nice little tidbit I see that Mr. Xu Hong Bing, a compatriot of mine, is sole director and officer of Golden Wind; I wonder if he might be related to Xu Jia Rong, the deputy general manager of Wuhan Guoce Nordic New Energy Co. Ltd.
I've tried asking him rational questions before. Look back over the weekend. It doesn't really work? He'll accuse us of being pumpers, so as long as he's around we might as well just enjoy his presence. I mean the basket weaving comment was pretty classic.
I guess English does not appear to be your first language, so I'll become as repetitive as you - We want to believe you, but we don't know who you are, so point us to your actual postings on what you have exposed in the past.
damn your good, basket weaving :) The other day I didn't nearly give you enough credit for being so entertaining. Keep bashing away. Now that I'm not in as crabby a mood, I'm enjoying watching it.
I guess we should all disregard previous SEC filings and only accept new ones?
Sure thing buddy. Next time I research a stock I wont look into the past.. maybe my due diligence will be reading pumper posts on iHub and the $200,000 email promotion, those must be true right?
Sorry guys, but your precious GCHT has been exposed and is a failure. Someone wasted $200,000 for their paid promotion to Breakaway stocks today !!
Time to change your ticker ... AGAIN. Its only been changed * 4 TIMES IN 6 MONTHS * LOL LOL
How many times has it been now?
1) VDOR
2) VIDR
3) NDTI
4) GCHT
5) ??
6) ???
7) ????
Come on guys, whats next!? Are they going to get into the Basket weaving business next? Necklace Manufacturing?
You just said "I love exposing pumped up pennystocks for what they truly are, garbage", but I can't seem to find what you have exposed, seems that you alias was only born on Friday November 6th, and you have only ever posted 28 times to this board, so all we have to go on, is your continuous repetitive ranting and raving, quoting from past SEC filings, conveniently overlooking the latest filing. We want to believe you, but we don't know who you are, so point us to your actual postings on what you have exposed in the past.
No need to defend the company nor to reply to irrelevant accusations. I only need to make up my own mind: do I want to invest, when and how much.
I agree with you, there are scam artist out there and as an investor you better pay attention. However, nothing in your posts turned up a red flag, confirming my investment thesis.
You obviously disagree and that's why we have markets.
Get that turd! WEEEEE!
I do not care if the stock "runs" or not.
I love exposing pumped up pennystocks for what they truly are, garbage. They are created by degenerate losers and pay scumbag promoters to trick people into buying shares of a worthless company.
Lets not all forget that the shell company was a former Gold Mining business that changed into a Chinese Wind Turbine manufacturer. If they failed as a Gold mining company, what faith would investors have they wont fail as a Wind turbine manufacturer?
What would they care if they failed or not, at the end of the day the only thing that will matter to those "investors" is that its those shares bought at a 300-400% discount are sold as they will have made MILLIONS of dollars in profits. Thats the only apparent reason they would invest, right? Even the SEC filings state the business is not expected to be profitable or viable in the future. Your points of this being 'invested' in by these venture capitalists are mute because they appear to have only wanted discounted shares, and the paid promotions are obvious to the fact they want the share price to appreciate, therefore most likely sell them and make a 400% ROI.
When it looks like a turd, smells like a turd, it most likely IS A TURD.
About time you got back to work.....You gotta stop this thing from running....geeze I thought you were good at this.
You are going through a lot of trouble to defend this company, yet have been unable to answer many questions regarding the accusations here. Why would someone invest money into a company when there are so many unanswered questions here?
Also, there is a twitter user http://twitter.com/cdinvesting who is having a field day pumping GCHT. Coincidentally his name is Chris (Maybe Chris Wadsworth, the guy who just received 7 MILLION shares for $.80?)
Funny thing is he started pumping it hours before Breakaway Stocks sent an email promotion out with a disclaimer that they were compensated $200,000 to feature GCHT. That promotion happened last night which would explain why the stock is up, albeit on very small volume.
This stock stinks, I am assuming the only ones bullish on it are the ones affiliated with the same man who is sending 'tweets' to everyone on the internet last night and today.
Got to love penny stocks, how exciting!
GCHT - shares - @Gorilla
Here is the story of the 7.7 million share puzzle.
The prior shell company in this reverse merger was Vista Dorada Corp which changed its name first (filing 7/24/2009) to Nordic Turbines, Inc. and then (filing 9/14/2009) to GC China Turbine Corp.
The 10-Q filed by Vista Dorada on 5/12/2009 shows 98,970,000 shares issued and outstanding as of March 31, 2009.
The 10-Q filed by Nordic Turbines, Inc. on 8/14/2009 shows half as many shares issued and outstanding as of June 30th, 2009 = 49,485,000 shares due to a 1 for 2 reverse split on May 18, 2009.
40,500,000 shares of common stock were surrendered by former Company officers and directors for cancellation on September 11, 2009 and 1,298,793 additional shares of common stock were surrendered for cancellation on October 1, 2009 which leaves GC China Turbine Corp. with the 7,686,207 shares of common stock issued and outstanding immediately prior to the exchange transaction.
After that, new shares were issued for the purchase of the assets of GC Nordic Group and for the $19 million in cash advanced to GCHT by several parties. But regarding this balance of about 7.7 million remaining shares prior to the exchange transaction: I have no idea who owns them and what benefit they brought to the new business venture GC China Turbine Corp. It would have been entirely logical if these shares had also been canceled prior to the exchange transaction, but they were not.
Who are the free loaders riding along with a nearly 13% ownership position in GCHT?
FP, so taking it from the top...
There were X number of shares that were present in the previous company.
They cancelled Y amount.
They Announced that they had Z number of shares.
But X - Y does not equal Z? By 7.7 million?
So, X - Y - 7.7 M = Z
Just so I'm on the same page as you...
rich
Huh? There's none of that on my part. I was just pointing out that two bladed wind turbines have never caught on.
There's not a single major wind farm using them.
I'm not saying they don't work. In fact, computers and new technological innovations of the last few years have made them more viable.
The demand for wind turbines in China is extraordinary, so large scale two-bladers might catch on. But one has to be aware that none of the major manufacturers are producing them.
I'm in favor of innovation. There are some advantages of three-blade over two: about 3% more efficiency, easier balance on the blades...two bladers require some extra devices to keep them balanced and enable pitch and yaw. With mass production they may be able to be produced more cheaply than three-bladers. but three-bladers rule the industry now.
China energy firms might buy any wind turbines they can because the renewable mandate is for capacity, not production, so some of them just might want to satisfy that requirement the cheapest way possible.
Here's an article I posted before about another two-blade company based on the Swedish design:
http://www.technologyreview.com/energy/23109/
And here's another interesting two blade concept:
http://green.venturebeat.com/2009/11/02/biomimicry-takes-wing-new-wind-turbines-inspired-by-bees/
As I posted in my FUD - the company with the patents is private - it announced it's first sales this year and is backed by GS amongst others.
I don't deny there's some risks here but the information looks interesting and GS don't invest for philanthropic reasons.
rich
Looking at the chart of CPQQ, I wonder if this might in time turn out to be sort of a template for coming price action in GCHT.
Just a reminder of the wild swings happening with stocks new to market.
This reminds me of disdain and contempt versus the budding PC industry by experienced computer engineers who at the time insisted that PCs would never amount to a hill of beans.
Two-bladed wind turbines have never really caught on. I've been looking for any that might be in large scale grid connected use.
A New Zealand company, Windflow Tech builds 500 kw two bladed wind turbines. They are the only wind turbine manufacturer in Australia or New Zealand.
They may have put up a few dozen, but the company will only attest to five being fully operational. These are quite small turbines. Nearly all new wind farms in the developed world are using machines of at least 1 MW and usually more. New Zealand, companies, in fact, have been importing Vestas 3 MW machines.
It's possible smaller ones may work for New Zealand as they will be cheaper with cheaper transportation costs, so that may make them economical regardless of the efficiencies.
This is the only other two-bladed wind turbine company I've found that looks even close to producing large numbers:
http://www.windflow.co.nz/
They are listed on the NZ stock exchange but got suspended recently after being late with a report.
Scamy...lets get to work here buddy....chop chop....I'm going to lay down and have a nice nap and when I get up I expect to see at least a dozen posts from you explaining all the dirty stuff this company is up too.....you have to save all the innocent folks that may buy tomorrow....no slacking...chop chop...lets go!
SCAmm
While I agree/believe with some of your first statements/posts you are becoming a pain in the ass.. It's your first post that said it all.. Now all you seem to want to do is rub someone's face in it.. As you were born to make the first post,, soon you will be but a blip on the chart because all are putting you on ignore.. Enough said,, because why should you care if no one else does.. hank
Is it hard for you to make trades on your own?
Or did you buy GCHT on one of their paid stock promotions or the advice of some of the pumpers here on iHub? Do you really need my assistance any further?
I truly wonder how many people are in on this one now. Its astonishing.
When I uncover the next scam, you will see me again. I am watching for SEC filings by John J Lennon from now on, thats for sure.
so what else you looking at?
personally i dont know the guy....never talked to him, never emailed him or anyone associated with the company........and to be REALLY honest......i dont give a shit if they hang em by his gonads from the bottom of the jail.......
so what else you looking at?
come on bubba, i aint got all day.......is the question too tough?
I will let the insiders and promoters take it from here.
After all, they possess millions of shares purchased/given to them for under $1.00 which can be currently sold for much more than that. I am pretty sure buying/accumulating/receiving shares cheap and selling them for higher prices was the main business plan. In fact, if you read the SEC filings closely they even state that their business is not viable and currently rely on shareholders for revenue.
Go ahead, buy those shares... I am sure the guys selling them to you need to make their mortgage payments and fund their next Shell company/reverse merger scam.
Maybe John J Lennon's next shell company could be a former Underwater treasure hunting company that decides to get into Chinese oragami products and can reverse merge into another Chinese Paper company... you guys will be all over that one QUICK
scam could please follow me over to another board.....follow us please......
pretty please with a cherry on top
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43387423
i know some other lil goobers who you can get if you need some help...
"one thing is for certain... a dump will happen again!"
Don't just stand there. Do something about it!
I want more cheap shares . . .
Glad you made a few bucks risking a bounce and possible SEC halt.
I have made much, MUCH more than that shorting fraudulent pump and dumps.
To each his own though, We are all here to make money right?
I just hope my effort helps prevent new investors from losing their money at the same time I profit from the predictable dump after the pump.
Come on guys- lets see some more pumping! I would love to short this again after a nice move up because one thing is for certain... a dump will happen again!
Amazing, a source of mine disclosed that the IR department is on a Voice over IP line. The man, Jim Blackman, was questioned and became very hostile and even denied knowning a "John J Lennon". Pretty amazing GCHT's own Investor Relations rep claims to not know John Lennon.
You guys do what you need to do, play the bounce, it was expected. Then again, so was the 50% dump after the paid promotion.
I have already made sense of the SEC filings.. using my common sense.. go figure.
As you guys are trading this risky security and 'praying' and 'hoping' the claims of "future" and "potential" revenues will actually happen (they do not though because of the nice Forward Looking statement disclosures on each PR and on the website)
There are much better plays out there than this. If you cannot provide answers to certain questions, why even play?
Obviously its your money, not mine. Good luck.
The cancellation of certain shares seems to have brought down the 46% to a more manageable 7.7 million shares. But this still leaves ~7.7 million shares in hands unknown for what kind of contribution exactly??
"Immediately after the Exchange Transaction and notes conversion (and taking into account 40,500,000 shares of common stock surrendered by former Company officers and directors for cancellation on September 11, 2009 and 1,298,793 additional shares of common stock surrendered for cancellation on October 1, 2009), the Company had 58,970,015 shares of common stock issued and outstanding."
About the 54% mentioned in former filings, e.g.
8-K from 5/28/2009:
"Under the terms of the LOI, the parties agree to act towards entering into a definitive agreement by June 21, 2009 whereby the Company will acquire all of the issued and outstanding shares of Nordic in exchange for Nordic acquiring fifty four percent (54%) of the Company’s issued and outstanding common stock (the “Share Exchange”)."
8-K from 7/24/2009:
"Upon consummation of a merger whereby the Company, or a wholly-owned subsidiary of the Company, will acquire all of the issued and outstanding shares of Luckcharm in exchange for Luckcharm acquiring fifty four percent (54%) of the Company’s issued and outstanding common stock (the “Merger”)"
8-K from 8/3/2009:
"AND WHEREAS the Company, Luckcharm and GC Nordic wish to enter into a merger transaction whereby the Company or a wholly-owned subsidiary of the Company would purchase all of the issued and outstanding shares of Luckcharm in exchange for the issuance to the shareholders of Luckcharm of 54% of the ownership interest in the Company (on a post-Closing basis)."
and
"Upon the satisfaction of the conditions set forth herein and in the Definitive Agreement, the Company or its wholly-owned subsidiary shall acquire all of the issued and outstanding capital stock of Luckcharm in exchange for the issuance of shares of common stock of the Company to the shareholders of Luckcharm, which will represent a fifty four percent (54%) ownership interest in the Company post-Closing (the “ Merger ”). Additionally, upon consummation of the Merger, the Company shall directly or indirectly own all of the outstanding capital stock of GC Nordic."
and
"b) On July 31, 2009, the Company, Luckcharm, GC Nordic, NewMargin, CV and CV Advisors entered into an amended and restated Binding Letter of Intent (the “LOI”). Pursuant to the LOI, (i) the Company, Luckcharm and GC Nordic agree to enter into a definitive agreement by August 30, 2009 whereby the Company, or a wholly-owned subsidiary of the Company, will acquire all of the issued and outstanding shares of Luckcharm in exchange for Luckcharm acquiring fifty four percent (54%) of the Company’s issued and outstanding common stock (the “Merger”); (ii) upon consummation of the Merger, the Company shall directly or indirectly own all of the outstanding capital stock of GC Nordic; (iii) the closing date for the Merger shall be thirty days from the date GC Nordic completes an audit of its financial statements as required under U.S. securities laws; and (iv) the obligation of GC Nordic to consummate the Merger is conditioned upon an additional financing of at least USD $10,000,000 in the merged entity at closing."
and so on . . .
10-Q from 8/14/2009:
"nder the terms of the LOI, the parties agreed to the following binding provisions: (i) the Company, Luckcharm and GC Nordic agreed to enter into a definitive agreement by August 31, 2009 whereby the Company, or its wholly-owned subsidiary, will acquire all of the issued and outstanding shares of Luckcharm in exchange for Luckcharm acquiring fifty four percent (54%) of the Company’s issued and outstanding shares of common stock (the “Merger”); (ii) upon consummation of the Merger, the Company shall directly or indirectly own all of the outstanding capital stock of GC Nordic;"
There is more of this in the 10-Q
SC 14F1 from 8/25/2009:
"Pursuant to the merger, the Company’s wholly-owned subsidiary, GC China Turbine Corp., will acquire all of the issued and outstanding shares of Luckcharm in exchange for Luckcharm acquiring fifty four percent (54%) of the Company’s issued and outstanding common stock."
8-K from 10/6/2009:
"B. At the Closing, the Selling Shareholder’s ownership interest in Pubco shall represent no less than fifty four percent (54%) of the issued and outstanding shares of Pubco. "
and
" (b) As consideration for its acquisition of the Shares, Pubco shall issue the Exchange Shares to the Selling Shareholder by delivering a share certificate registered in the name of the Selling Shareholder evidencing the Exchange Shares (the “ Exchange Shares Certificate ”). The Exchange Shares issued shall equal no less than fifty four percent (54%) of the outstanding shares of Pubco’s common stock at the time of Closing."
8-K from 11/5/2009:
"6.1 Background . The Offering is made in connection with a voluntary share exchange between the Company and Luckcharm Holdings Limited, a company organized under the laws of Hong Kong (“Luckcharm”) pursuant to that certain Share Exchange Agreement among the Company, Luckcharm, Wuhan Guoce Nordic New Energy Co. Ltd., a company organized under the laws of the People’s Republic of China and wholly-owned subsidiary of Luckcharm and Golden Wind Holdings Limited, a company organized under the laws of the British Virgin Islands and sole stockholder of Luckcharm (“Make Good Pledgor”) dated September 30, 2009 whereby Make Good Pledgor agrees to sell all of the outstanding capital stock of Luckcharm to the Company in exchange for the right to receive 32,383,808 shares of common stock of the Company representing no less than fifty four percent (54%) ownership interest in the Company. "
and
" On September 30, 2009, the shareholders of GCCT entered into a voluntary share exchange agreement (the "Exchange Agreement") with LHL, GW and GC-Nordic. Pursuant to the Exchange Agreement, GCCT will issue 32, 383,808 shares of its common stock, represents no less than 54% of the total issued and outstanding common stock of GCCT, to GW at the closing of the Exchange Agreement in exchange for 100% of the issued and outstanding capital stock of LHL. The previously issued US$ 10 million convertible promissory notes will automatically convert into 12,500,000 shares of the GCCT's common stock."
and many more instances not listed here. So the 54% is consistently mentioned throughout the reverse merger documents filed with the SEC.
Hi FP - I've been reading over the most obvious documents... which bit are you referring to... I can always ask the IR department now I've phoned them - he seemed helpfull. My last question was basically do you exist and are you represting GCHT.
The diagram has 100% everywhere but they also refer to 54%'s as well...
http://www.sec.gov/Archives/edgar/data/1380528/000114420409056757/v164649_8k.htm
rich
ok seriously scam man........what else you looking at.......i could do some more of this........no 'lol' here either pal....i am deadass serious.........
rolling the dice here.......still holding
Hi Gorilla,
an excellent post. One question, if I may?
When they did the reverse merger, the Chinese group Luckycharm only got 54% of Nordic Turbine's shares but delivered (as I understand it) 100% of today's assets and business operations; except for the financing guys who added $10 million and got their additional 12.5 million shares, and in addition the 6.4 million shares to Longboard, Southridge and co-investors for another $8 million, and lastly the convertibles providing another $1 million. (See the 8-K filed on July 24th as one of the many filings where the 54% shares ratio is strictly maintained throughout.)
So who kept the 46% shares in Nordic Turbine, Inc? And how does that relate to the remaining 7,686,207 shares of common stock of GCHT immediately prior to the exchange transaction on Oct. 30th? Who is holding these 7.7 million shares and what exactly did these people bring to the table? So far, I just cannot make any sense of this.
Is this of concern to us minority shareholders? Probably not, as the 7.7 million shares are included in the 61 million f/d share count which we knew about all along. However, should the 46% of shares of Nordic Turbine, Inc. still be in the picture as additional shares of GCHT, then the f/d count would possibly be substantially higher.
What gives? I find this puzzling.
Ok so I made $1,220 on that bounce...now you need to get back to work and get this back down to about 2.15 so I can make more money while you watch.....get to work boy!
LMAO.... yes please head over to the CSOL board for old time sakes!
Scamexposer
Your bashing GCHT came at the time of an intraday reversal- up 20% since you bashed!
Now please go and bash CSOL for me.
God knows my posts about it trading for about cash and well below book while turning to eps positive last quarter hasn't helped.
thanks for dropping by, son!
Think the 23% dump was the end?
Just wait until the REAL dump starts... this thing will be under $1.00 REAL quick.
I have nothing to worry about, made money on the predictable DUMP. You guys can gamble and play with fire, I made almost 50% to the short side on this fraudulent company.
Funny no on has disputed the facts I dug up. But thats fine, I will take my huge profit and uncover the next PUMP AND DUMP.
I hope when the next email promotion comes up people do their DD more thoroughly, because getting caught in a 50% selloff in a few days would suck if your long this stock. Then again, I go for predictable gains, not gambling with a shady promoted piece of garbage like GCHT.
Have a good day! I know I will.
Great post!
But I still hope he continues and finds a few more victims.
Congrats!
I had to pay 2.32.
what else you looking at?......you may be the very best contrarian indicator i have seen in a while!
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GC China Turbines Inc.
Gc China Turbine Corp became an operating entity via reverse merger transaction with GC Nordic on October 6, 2009
GC Nordic manufactures 2-bladed wind turbines in Wuhan City of Hubei Province, China. GC Nordic was founded in 2006 by certain members of GC Nordic’s management team and certain shareholders who formed Guoce Science and Technology Stock Co., Ltd., a leading technology provider to the Chinese utility industry. Guoce Science and Technology has a long history as a preferred provider to the utilities industry in China.
It is a producer of hydraulic systems and electronic control systems that enjoy dominant market share of approximately 40% of the hydro-electric generation industry. Originally, GC Nordic was founded as part of a strategy to expand the product offerings in a business that closely paralleled the business of Guoce Science and Technology. They seek to license and develop a groundbreaking technology in the wind energy space that would have a high likelihood of meeting requirements for low manufacturing cost and high operating standards.
March 2011 Investor Presentation: GC China Turbine March 2011 Presentation
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