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Thanks, that is an interesting mix for the month... Only three buys at .15 ? I wonder .....
LGHS >> trades >> so far in June (2013) $0.1500 500 OTO 06/17
$0.1500 8,000 OTO 06/17
$0.1500 2,000 OTO 06/17
$0.0392 9,000 OTO 06/17
$0.0490 9,000 OTO 06/17
$0.0392 14,000 OTO 06/17
$0.0750 2,690 OTO 06/17
$0.0750 100 OTO 06/14
$0.0390 22,966 OTO 06/12
$0.0390 410 OTO 06/07
$0.0390 1,953 OTO 06/07
$0.0390 2,450 OTO 06/07
$0.0390 10,000 OTO 06/06
$0.0390 1,300 OTO 06/05
$0.0500 5,000 OTO 06/05
$0.0549 1,000 OTO 06/05
$0.0549 1,200 OTO 06/04
$0.0549 1,200 OTO 06/04
$0.0529 1,200 OTO 06/04
===
4kids
all jmo
Well, well. Finally a day of volume and green... News coming??
LGHS >> MM MONTHLY >> MAY 2013 ETRF
Total Share Volume 58,205
G1 Execution Services, LLC. 46,495
BMAK
BMA SECURITIES 7,700
NITE
Knight Capital Americas LLC 4,010
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=LGHS&SortBy=volume&Month=5-1-2013&IMAGE1.x=8&IMAGE1.y=5
link back for prior months' data
===
4kids
all jmo
And intriguing. Good to read, Dadx4.
LGHSE: Failure To Comply With NASD 6530; added to NBB (LGHS)
http://www.otcbb.com/asp/dailylist_detail.asp?d=05/20/2013&mkt_ctg=OTCBB
Can't see the trades...they must be blurred. Are the trades blurred? It would be good to know. Please help me.
LGHS >> MM MONTHLY >> APR 2013 ETRF
Total Share Volume 256,561
G1 Execution Services, LLC. 93,985
NITE
Knight Capital Americas LLC 50,080
ATDF
AUTOMATED TRADING DESK FINANC 47,719
PUMA
Puma Capital, Llc 32,377
VFIN
vFinance Investments, Inc. 17,400
Cantor, Fitzgerald & Co. 10,000
MAXM
Maxim Group LLC 5,000
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=lghs&SortBy=volume&Month=4-1-2013&IMAGE1.x=15&IMAGE1.y=4
link back for prior months' info
===
4kids
all jmo
tsk tsk .. nonsense indeed
this was actually what i wrote ..
in my very first post on ACTN (now LGHS)
**disclosure: shareholder in ACTN ..
my bid from 11/3/2011 ... i'd planned to add a few 1k more
but i won't chase .. clearly being a *china* <company> stock
i'd expect *negativity* including the likelihood of an authorized
hit piece .. if the MO of the past couple of years runs true to form .. clearly there is risk *here*
====
btw and fyi .. i don't view investing as a team sport
i make my decisions based on my DD .. what others do is their business
after all it's their money invested ..
post quoted is from 6 months+ back and has nothing to do with what is posted ..
this is my start of that *thread* ..
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81474286
hmmmm
and this is my baseline post (first) on this board
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68773055
good to know what captures attn ;)
===
4kids
all jmo
"nonsense
what is interesting to me is just how
conservative this co. was previously
i have to say i did wonder about the
*hiring* >> done >> and the *volume*
that followed that >> promotion
because it didn't fit the MO of this co.
time will tell"
Time has told.
What I and other skeptics wrote wasn't "nonsense", and the story about naked or other shorting turned out to be complete garbage as usual.
LGHS was a scheme to steal money from retail investors in the US, and the crooks behind it were given cover and bogus legitimacy by the usual penny stock scam apologists who used baseless and ridiculous conspiracy theories to gull the naive.
so, what happened here???......I remember when it was over a BUCK!!!!
now .075, with crappy volume.....THE CHINA SYNDROME....
Delaware judge tells directors: You can run, but liability follows
4/29/2013
By Tom Hals
newsandinsight.thomsonreuters.com
WILMINGTON, Del. (Reuters) - For the second time this year, a judge has warned independent directors of a Delaware corporation with Chinese operations that their personal wealth can be at risk in shareholder lawsuits even after they resign their directorships.
Many Delaware-chartered Chinese companies rushed to list stock on U.S. stock exchanges in recent years through reverse mergers, but have since been dogged by plummeting share prices and questions about their accounting.
As a result, the Chinese companies have attracted a flurry of lawsuits from investors.
On Thursday, Vice Chancellor Sam Glasscock of Delaware Chancery Court refused to dismiss a lawsuit that seeks to hold current and former directors of Fuqi International Inc responsible for widespread accounting problems.
In his 45-page opinion, Glasscock said that the resignation by two independent directors, Eileen Brody and Victor Hollander, in protest over mismanagement did not necessarily protect them from liability.
"I do not prejudge the independent directors before evidence has been presented, but neither are those directors automatically exonerated because of their resignations," Glasscock wrote.
In February, the court's chief judge, or chancellor, Leo Strine, said in a bench ruling that independent board members had a duty to be more than "dummy directors," after they chose to quit rather than sue the chairman of Puda Coal.
Puda Coal's chairman, Ming Zhao, was alleged to have transferred the company's main assets to a company he controlled, leaving Puda virtually worthless.
"The rulings show that independent directors when faced with difficult and seemingly insurmountable obstacles may not automatically escape liability by simply resigning," Tariq Mundiya, a partner with Willkie Farr & Gallagher in New York said on Friday.
In his ruling, Glasscock noted that despite the resignations in protest against management, the independent directors could still be liable for past conduct, Mundiya said.
FUQI'S PATH
Both cases involve a claim that the defendants breached their duty to oversee the corporation, which carries one of the toughest standards for plaintiffs to meet. If the allegations are proven at trial, the directors could be personally liable for monetary damages.
Fuqi International followed the trajectory of many Chinese companies.
It listed its shares on Nasdaq through a reverse merger and in 2009 it raised $120 million through a public stock offering. Less than a year later, the company said it found accounting errors and uncovered transfers of cash out of the company totaling more than $130 million to entities that Fuqi has yet to verify were legitimate businesses. Fuqi has said the cash was recovered.
Fuqi's audit committee started to investigate, but its work stalled when management stopped paying the lawyers and accountants hired by the audit committee. The company said the lack of payment stemmed from a dispute with its insurer.
In protest, Brody and Hollander resigned from the board.
George Rich, a Fuqi shareholder, brought a derivative lawsuit seeking to recover from the directors the costs incurred by the accounting problems, an SEC investigation and the delisting of its stock from the Nasdaq.
To get past a motion to dismiss, Rich had to prove the directors utterly failed to implement a reporting system or consciously failed to oversee a company's operations, both very high standards.
"The board of directors may have had regular meetings, and an Audit Committee may have existed, but there does not seem to have been any regulation of the company's operations in China," Glasscock wrote in his ruling on Thursday.
His language mirrored that of Strine in February. "You're not going to be able to sit in your home in the U.S. and do a conference call four times a year and discharge your duty of loyalty," Strine had said. "That won't cut it."
Larry Hamermesh, a professor at that Widener University School of Law in Wilmington said the rulings make clear independent directors cannot quit in the face of a daunting challenge, but he said it left an unanswered question.
"I'm not sure what you would do. I would think that resigning in the face of a clear inability to perform one's duties as a director is probably the only viable choice."
The case is George Rich Jr v. Yu Kwai Chong, Delaware Court of Chancery, No. 7616._________________________________________
Not pretty.... I think it hurts when I sit... No, it does hurt when I sit.....lol.... I just checked....
Well, you were right the whole time. In hindsight, I appreciate your efforts.
Does this sound familiar?
Eerily topical, since Chinese VIE LGHS has also given up filing with the US regulators:
"China chicanery
IPO scheme results in raid on CFO’s home
By KAJA WHITEHOUSE
Last Updated: 7:25 AM, April 19, 2013
Posted: 12:13 AM, April 19, 2013
EXCLUSIVE
US Marshals raided a Brooklyn home this week, looking for books and records of a China-based cable company accused of stiffing its shareholders, The Post has learned.
At the same time, a team of agents, lawyers and forensic accountants descended on the Wall Street offices of Taylor Rafferty, an investor relations firm that has worked with the cable company, ZST Digital Networks, since its US IPO in 2009, sources said.
The hunt was for paperwork and computer files in an attempt to locate ZST assets, sources said.
Investor Peter Deutsch, a Westchester wine mogul, has pressed judges in Delaware and Manhattan for access to the records in an attempt to recover $32.3 million he claims he lost because of ZST’s improper actions.
Westchester wine importer Peter Deutsch (above) is on the trail of his $32.3 million investment in a Chinese cable outfit, which has spurred raids of an exec’s Brooklyn home (bottom) and the offices of an investor-relations firm on Wall Street.
Patrick McMullan, Anne Wermiel, Stefan Jeremiah
Westchester wine importer Peter Deutsch (above) is on the trail of his $32.3 million investment in a Chinese cable outfit, which has spurred raids of an exec’s Brooklyn home (bottom) and the offices of an investor-relations firm on Wall Street.
Deutsch is one of many shareholder victims of China-based companies that IPO in the US but then “go dark” by parting ways with their accountants or simply refusing to file financial reports.
As a result, shares of the company tank and shareholders lose. In some instances, the companies buy up the shares at severely reduced prices and go private.
Raids to recover assets are rare but could become a remedy for burned investors who follow Deutsch’s lead.
The wine importer got Judge J. Travis Laster of the Delaware Chancery Court to sign an order in March allowing him to seize assets through a court-appointed receiver.
ZST said it would only allow Deutsch access to the records in its offices — in China.
Deutsch had another idea.
On Tuesday, Deutsch asked Manhattan federal court Judge Robert Patterson for permission to search the Gravesend home of ZST CFO Henry Ngan as well as the offices of Taylor Rafferty.
The judge quickly agreed.
ZST, a cable systems company, went public in the US at $8 a share in 2009 at a time when US investors were hungry for small Chinese growth companies.
By 2010, ZST’s shares jumped to more than $11 and the company boasted lofty investors, including hedge fund Renaissance Technologies and $257 billion California Public Employees’ Retirement System.
The gravy train quickly ended, however, and in 2012, ZST “voluntarily” delisted from the Nasdaq. It has barely been heard from since.
ZST, which was once worth $92 million, now trades on the pink sheets at $1.30 a share.
Deutsch, CEO of White Plains, NY, wine distributor, W.J. Deutsch & Sons, with the dogged determination of his lawyer, David Graff, wasn’t going to settle for that.
A spokesman for Taylor Rafferty called the late-night raid “unexpected,” but told The Post they complied with the judge’s orders.
Ngan, also on the board of the publicly traded beverage company Nutrastar, could not be reached for comment.
For Deutsch, the next step appears to be an international treasure hunt for ZST’s assets.
“We are leaving no stone unturned,” said Rob Seiden, the receiver who has been tasked with locating ZST’s assets for Deutsch. Seiden, president of Confidential Security and Investigation, said ZST is still “actively in business and operating in China.”
kwhitehouse@nypost.com"
13:24 4/19/2013 LGHS LGHSE Longhai Steel, Inc. Common Stock Delinquent **
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=04/17/2013
Time to take another look ,the locomotive driver must have been reading ihub posts....LOL ...April is CHINA month ....I hope ..
This caboose ain't attached to the locomotive. How much clearer can I make it?
Detailed Quote:LGHS Last Trade 0.13 $0.1300 400 OBB 09:46:23 $0.1300 10,000 OBB 04/01
LONGHAI STEEL INC
0.13 0.00 (0.00 %)AS OF 9:46:23AM ET 04/02/2013
Trade Time 9:46:23am ET
Last Trade Exchange OTC BB
Today's Change 0.00
Today's % Change 0.00%
Open 0.13
Today's High 0.13
Today's Low 0.13
Previous Close Price
04/01/2013 0.13
52-Week High
04/03/2012 1.55
52-Week Low
04/01/2013 0.11 ** 52 week low reset yesterday ;)
Price Performance (Last 52 Weeks)
04/02/2013 -91.33%
Volume 400
10-Day Average Volume 26,672
90-Day Average Volume 8,235
unlike yesterday >> zero reg sho reported
LGHS >> trade >> 4.2.13
====================================
prior days' trades >> LGHS
$0.1100 16,877 OBB 04/01
$0.1100 1,500 OBB 04/01
$0.1350 6,623 OBB 04/01
$0.1350 1,017 OBB 04/01
$0.1350 3,000 OBB 04/01
$0.1350 5,000 OBB 04/01
$0.1350 5,000 OBB 04/01
$0.1350 5,000 OBB 04/01
$0.1350 1,007 OBB 04/01
$0.1350 1,000 OBB 04/01
$0.1350 4,976 OBB 04/01
$0.1350 5,900 OBB 04/01
$0.1350 6,000 OBB 04/01
$0.1350 56,500 OBB 04/01
$0.1353 6,076 OBB 04/01
$0.1353 500 OBB 04/01
$0.1500 2,500 OBB 03/28
$0.1500 4,900 OBB 03/28
$0.1800 1,000 OBB 03/28
$0.1800 3,400 OBB 03/27
$0.1800 6,600 OBB 03/27
$0.1800 1,900 OBB 03/26
$0.1800 15,600 OBB 03/26
$0.1932 4,000 OBB 03/25
$0.2000 500 OBB 03/22
$0.2000 500 OBB 03/22
$0.2000 500 OBB 03/22
$0.1932 1,000 OBB 03/22
==
4kids
all jmo
ok this just came in my email today. Lots of volume today but price still dropped.
http://ir.stockpr.com/longhaisteel/all-sec-filings/content/0001062993-13-001578/form12b25.htm
LGHS >> MM MONTHLY >> MAR 2013 NITE
Total Share Volume 143,851
Knight Capital Americas LLC 74,217
MAXM
Maxim Group LLC 38,000
ETRF
G1 Execution Services, LLC. 19,308
BMAK
BMA SECURITIES 8,315
ATDF
AUTOMATED TRADING DESK FINANC 2,500
PUMA
Puma Capital, Llc 1,511
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=lghs&SortBy=volume&Month=3-1-2013&IMAGE1.x=18&IMAGE1.y=3
link back for prior months' data
===
4kids
all jmo
Yes, it's from this transaction where they paid .75 a share
Securities Purchase Agreement
On May 11, 2012, Longhai Steel Inc. entered into a securities purchase agreement (the “ Securities Purchase Agreement ”) with certain accredited investors (the “ Investors ”) pursuant to which the Company agreed to sell to the Investors 1,600,000 units for $0.75 per unit, for total proceeds of $1.2 million. Each unit entitles the Investors to purchase one share of the Company’s common stock at $0.75 per share and a three-year warrant to purchase one-half of one share of common stock at the exercise price of $1.00 per share (the “ Warrants ”). The total shares issued to the Investors were 1,600,000 (the “ Shares ”), representing approximately 13.3% of the issued and outstanding capital stock of the Company on a fully-diluted basis as of and immediately after consummation of the transactions contemplated by the Securities Purchase Agreement. 800,000 Warrants were issued as a result of the Securities Purchase Agreement, the fair value of the Warrants deducted the additional paid-in capital generated from issuance of the Shares. The closing of the transactions occurred on June 6, 2012 upon the fulfillment of closing conditions contained in the Securities Purchase Agreement.
LGHS .. FORM 424B3 filed .. March 22, 2013
http://www.otcmarkets.com/stock/LGHS/filings
Thank-you Oside, a long read, a lot of it repeats but I believe there are some good things in there... Let you know after a good read this weekend...
Why savvy investors worry about probable scams like LGHS:
Iroquois -LGHS "investors" - are no stranger to the good ol' pump and dumperooni:
http://www.thestockadvisor.com/featured/022210NCEN.html
Mind you, Josh Silverman is just the kind of stand-up guy you might expect to be involved in the shady world of Chinese-originated VIE's:
http://www.checkfundmanager.net/diligence/?p=1755
http://www.thestreet.com/story/10229586/1/new-exposure-for-hedge-funds-strip-joints.html
http://www.bizapedia.com/tn/IROQUOIS-FUND-LP.html
You can be sure that a hedge fund like Iroquois will make money on a share offering from an OTC Bulletin board penny stock like LGHS, no mater which way the stock price goes. It's what hedge funds do best, after all:
"The selling stockholders may use any one or more of the following methods when selling shares:
..........
• to cover short sales made after the date that this registration statement is declared effective by the SEC"
You have to wonder why an allegedly highly successful and profitable company like LGHS - according to its filings, it's successful anyway, although that doesn't stop it going cap in hand to various hedge funds for financing on unfavorable terms - needs an S-1 registration at all.
Talking about Chinese VIEs like LGHS, here's why savvy investors are very very nervous about them:
"Fraud Heightens Jeopardy of Investing in Chinese Companies By STEVEN M. DAVIDOFF
DealBook
New York Times
April 24, 2012, 5:40 pm
You might think that if you bought shares of a Chinese company that was listed on an American stock market, you would actually own a piece of that company.
Unfortunately, it is not that simple. The recent cases of the ChinaCast Education Corporation and the Sino-Forest Corporation show that in many instances, foreign investors in Chinese companies might have bought shares that don’t really represent much. It’s a problem that has the potential to extend to even the soundest Chinese company listed in the United States.
The ChinaCast case is not the most egregious, but it is certainly the most scandalous. In March, its chief executive, Ron Chan, was ousted in a battle for shareholder control of the company. An American investor succeeded not only in replacing Mr. Chan, but also in obtaining control of the ChinaCast board.
Yet that turned out to be only the beginning of the battle.
Last week, ChinaCast disclosed that it could not find its company seals, or authorized signatures, for its Chinese subsidiary. Seals are necessary for ChinaCast’s Chinese subsidiary to undertake any business in China. Without them, ChinaCast can’t sign contracts or even pay employees. In other words, China appears to have “Lord of the Rings” corporate governance — one seal to rule them all.
Mr. Chan was believed to have possession of them but now claims to know nothing.
Two of the universities owned by ChinaCast appear to have been transferred to ChinaCast’s former chief investment officer and president of its Chinese operations. And last week, according to the board, about a dozen people broke into the company’s Shanghai office and stole a number of documents and computers.
ChinaCast has a revolt on its hands that it is finding difficult to quell.
One reason that ChinaCast is having a problem is that shareholders did not actually buy an interest in its operations. Instead, to avoid Chinese restrictions on foreign investment, ChinaCast’s shareholders invested in a United States company that has contractual arrangements with a Chinese company. But the Chinese company remains in the ownership of Chinese citizens.
The problem with this structure, known as a variable interest entity, is that it may be illegal under Chinese law and has been criticized by Chinese regulators. Even if it is legal, if the Chinese owners decide to go rogue, the United States-listed entity must sue and obtain a judgment from a Chinese court to enforce these dubious contracts. Good luck with that. Such a litigation can take a long time to resolve, if ever.
In ChinaCast’s case, it can’t do anything until it has control of the corporate seals, but under Chinese law it needs them to sue to recover them. In the meantime, the operators of the Chinese subsidiary can take full advantage of the situation.
Unfortunately, ChinaCast is not the only Chinese company with dubious claims to its assets.
Sino-Forest, listed on the Toronto Stock Exchange, is the most prominent Chinese company to experience this problem. Last summer, Sino-Forest was accused by Muddy Waters Research of fraudulent accounting with respect to timber lands. At the time of the report, SinoForest had a $4 billion market capitalization.
A subsequent report by an independent committee of directors denied that there was a practice of fraud at the company, but also acknowledged that much of Sino-Forest’s property was held through a variable interest entity, or otherwise under contractual rights without an actual title.
Sino-Forest has filed for bankruptcy in Canada. Its assets far exceed its liabilities, but shareholders are likely to end up with nothing, in part because Sino-Forest’s rights to its assets are tenuous at best.
The variable interest entity structure may be the root of the problem when foreign investors own shares in Chinese companies, but it is only part of it. The norms for business are different in China, and enforcing legal contracts or rights is sometimes impossible. Legal title to assets is often not formalized, and even when it is, Chinese executives can use the lack of rule of law to take advantage of foreign shareholders.
Other disputes show that ownership of assets in China can be fleeting.
Yahoo got into a tussle with Jack Ma, the chairman and chief executive of the Alibaba Group, in which Yahoo has a substantial interest, when he transferred Alibaba’s online payment platform, Alipay, to a private company controlled by him. Mr. Ma and Yahoo eventually resolved their disputes, but the transfer was a warning sign that Mr. Ma was willing to take all steps to ensure that the only buyers for Yahoo’s Chinese assets were Mr. Ma and his co-investors.
In the case of Nasdaq-listed GigaMedia, a Singapore-based online gaming company, it wasn’t the variable interest entity structure that did the company in. Instead, the head of its Chinese business simply made off with the seals for GigaMedia’s Chinese company and transferred ownership of the assets. GigaMedia appears to have given up on getting the business back.
And it’s not just a few bad apples. At least 105 Chinese companies listed in the United States have been delisted, are under investigation or have financial problems, according to The Pittsburgh Tribune-Review.
Even when there is no suggestion of fraud, the wide use of the variable interest entity structure by Chinese companies listed on United States stock markets should trouble investors.
The structure is used by a number of prominent Chinese Internet companies including Ren-Ren, Baidu.com and Sohu.com. In most cases, the actual Chinese assets are held by the company’s executives. Ren-Ren’s Chinese assets, for example, are 99 percent owned by Ren-Ren’s founder and his wife. This puts these executives in prime position to fend off any challenges by foreign shareholders.
Investors seem to heed the warning signs only half-heartedly. The recent Chinese initial public offering of VIPshop and the pending I.P.O. of AdChina both use the variable interest entity structure. AdChina disclosed that if the parties controlling its Chinese operations “fail to perform their obligations under their agreements with us, we may have to rely on legal remedies” under People’s Republic of China law “which may not be effective.”
VIPshop’s I.P.O. had top-tier underwriters, including Goldman Sachs. But don’t depend on the underwriters to stick around to make sure that American shareholders can enforce their rights. After an I.P.O., the underwriters tend to disappear.
This is not just a problem of a questionable legal structure, but Wall Street’s apparent willingness to ignore the fact that investors in the United States have tenuous claims when they buy shares in Chinese companies. And underwriters and Chinese issuers have taken advantage of the hunger for Chinese stocks.
The Securities and Exchange Commission and Washington seem to be almost as absent. The S.E.C. just brought charges against one Chinese issuer, SinoTech Energy, claiming it overstated its assets. The regulator has issued a warning about investing in Chinese companies listed on American stock exchanges, but the conduct in the ChinaCast case appears to be outright fraud. The agency simply has not followed up aggressively in most of these cases, most likely because it is overwhelmed with other tasks. The United States government has also not pressed China to vigorously and quickly enforce its own laws to help American shareholders.
Here lies the ultimate lesson. An investment in Chinese companies is really an investment in the people who run these companies. While some, if not most, of these executives are well intentioned, there seems be a lot of suspicious activity out there. Even more so, when those executives are threatened, they can use the weak legal structures and rule of law to maintain control of their companies. And heaven forbid they should steal the seals.
For American investors, it may be that the risks are worth the potential gains in investing in China, but don’t say you haven’t been warned.
Steven M. Davidoff, writing as The Deal Professor, is a commentator for DealBook on the world of mergers and acquisitions."
http://dealbook.nytimes.com/2012/04/24/fraud-heightens-jeopardy-of-investing-in-chinese-companies/?smid=tw-nytimesdealbook&seid=auto
And then there's this highly relevant article:
http://www.forbes.com/sites/eamonnfingleton/2012/12/04/this-is-big-the-sec-at-last-takes-the-lid-off-china-stock-scams/
Too bad. But maybe entry. However lots of dilution.
Sorry guys but its not showing up on Trade Architect on TDA... I believe its there, I just can't see it..
After PUMA & BMAC:
CANT 2500 @ .2
MAXM 49900 @.2
ATDF 2500 @ .21
ETRF 2500 @ .25
NITE 2500 @ .33
Time 14:10
Maybe its my L2... TDA... not showing 49k...PUMA 5k...175. BMAK 5k ...175... ATDF 2500 .21.....ARCA 3000..245 ETRF 2500.. .25..that is weird...
The 50k is gone, left the station...we have 5k PUMA @ .175 then 5k BMAK @ .18.... lets hope the 50k stays away
Probably not gonna go anywhere until that 50k block gets slapped or leaves. Not sure who would put a block like that there.
Last years was posted, March 30.... So very soon... Good numbers , may bring some attention....it would definitely help our share price.
Annual report due out shortly. I am thinking Mid March.
How about some news... Lets wake this puppy up!..it's been to quiet here lately...
LGHS >> MM MONTHLY >> FEB 2013 ETRF
Total Share Volume 56,185
G1 Execution Services, LLC. 27,415
NITE
Knight Capital Americas LLC 10,570
CANT
Cantor, Fitzgerald & Co. 10,000
PUMA
Puma Capital, Llc 5,000
ATDF
AUTOMATED TRADING DESK FINANC 3,200
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=lghs&SortBy=volume&Month=2-1-2013&IMAGE1.x=30&IMAGE1.y=2
link back for prior months' data
==
4kids
all jmo
That's what I thought... But why? No real news... We know they have to have more tradeable shares to loosen this baby up... Do to think this is why ? Just guessing..... Seems like a lot of paperwork ...
They're just adding more consent and opinion letters it seems. Not sure why it's needed
What's with all the S-1 filings ? It seems to be repetitive.... Does anyone know ?
ok another S-1 filed- looks like #6
http://ir.stockpr.com/longhaisteel/all-sec-filings/content/0001062993-13-000906/forms1a6.htm
Thanks WakingBake
Scroll to the bottom to see the change to the S-1. Basically, this ammendment added:
5. - Opinion of Lewis and Roca LLP as to the legality of the shares
http://ir.stockpr.com/longhaisteel/all-sec-filings/content/0001062993-13-000421/exhibit5.htm
23.1 - Consent of Marcum Bernstein & Pinchuk LLP
http://ir.stockpr.com/longhaisteel/all-sec-filings/content/0001062993-13-000421/exhibit23-1.htm
23.2 - Consent of MaloneBailey LLP
http://ir.stockpr.com/longhaisteel/all-sec-filings/content/0001062993-13-000421/exhibit23-2.htm
ok this is another sec form s-1 updated on Jan.28 2013.Again I apologize for not knowing what this actually means.maybe someone else can shed some light on it.
http://ir.stockpr.com/longhaisteel/all-sec-filings/content/0001062993-13-000421/forms1a5.htm
When I clicked on the link for the investors only site not the companies site it came up unavailable .... Is that the same site you went to... Maybe my link is broken .
I got onto the site, what do you mean?
Been quite a little quite period here!
The investors web page is no longer working... It was a project of our former CEO ... So not unexpected but ...
Is this still going to $5.00?
Another Ihub learning experience of who to believe, and who you shouldn't.
------------------
Tomorrow last trading day of 2011, things lining up, name/ticker change done, filings done, next step to uplist, when that PR hits, this goes to $5 on a breeze~
LGHS >> MM MONTHLY >> JAN 2013 ETRF
Total Share Volume 188,831
G1 Execution Services, LLC. 62,285
WDCO
Wilson-Davis & Co. Inc. 41,500
NITE
Knight Capital Americas LLC 29,996
SUNR
Sunrise Securities Corp. 22,118
ATDF
AUTOMATED TRADING DESK FINANC 15,116
ARCA
Archipelago Trading Services 6,700
CDEL
Citadel Securities LLC 3,616
PERT
Pershing LLC 2,500
BMAK
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Company Website: http://www.longhaisteelinc.com/
Company Information: Investor Presentation Package 2011
NASDAQ Offering
Authorized: 100M
Outstanding: 10,000,418
Interwest Transfer Company, Inc.
1981 Murray Holladay Road, Suite 100
Salt Lake City, UT 84117
Phone: (801)272-9294
Fax: (801)277-3147
Financial Information per last 10Q (Q3: 9-30-11):
Assets: $95M
Liabs: $44M
Net Worth: $51M
Shareholders Equity: $51M = $5.07/share
Last Q Revenues: $119M
Last Q Net Income: $979K = .10/share
Through its Chinese operating company, Longhai manufactures steel wire products in diameters from 6.5 to 10 millimeters on two wire production lines that have a total annual capacity of about 900,000 metric tons.
Longhai's output is sold to several distributors who transport the wire to nearby wire processing companies that make a variety of products including screws, nails, and wire mesh used to reinforce concrete and for fencing.
Longhai manufactures on demand. Sales prices are set at the market price for wire on a daily basis. Customers usually prepay with their orders, then the final prices are adjusted to the market price on the day of pickup by the customer. This allows Longhai to maintain low inventory of both wire and raw materials and minimizes its exposure to commodity price volatility. To increase sales and be price competitive, Longhai occasionally offers discounted wholesale prices.
Sales efforts are directed toward developing and sustaining long-term relationships with customers who are able to purchase in large quantities. In 2010, Longhai's top five distributors accounted for about 40% of our sales.
Longhai's production facilities, located in Xingtai, Hebei province, cover 107,000 square meters. The plant includes a single steel furnace with its coarse and intermediate rolling mills that then feeds two precise wire rolling and drawing lines that create the finished products. This design yields high quality, high volume, and competitive manufacturing costs per ton.
http://www.longhaisteelinc.com/corporate-info/management-team
Mr. Chaojun Wang
Chairman and CEO
Mr. Wang has served as our Chairman and Chief Executive Officer since March 2010, has served as the Chief Executive Officer of our Chinese operating company since its inception in 2008, and has served as Chairman of the Longhai Steel Group, our former parent company, since 1999. Mr. Wang is a member of the local parliament. He holds a Bachelor's degree in Enterprise Management from the Shijiazhuang Railway College. Born in 1955, he is 55 years old.
Mr. Heyin Lv
Chief Financial Officer
Mr. Lv joined Xingtai Longhai Steel Group Co., Ltd., the Company's then parent company in April 2008. He was later appointed as the Chief Financial Officer of Xingtai Longhai Wire Rod Co., Ltd., the Company's operating subsidiary, and served from August 2008 to July 2011. He was responsible for financial reporting, financial planning and analysis, budgeting and treasury management. From 2007 to March 2008, Mr. Lv was an auditor with Xingtai Zhengda Audit Firm. In 2006, Mr. Lv was the Financial Director of Hebei Xingda Group, responsible for financial reporting and treasury management. From 2001 to 2005, Mr. Lv served as the Financial Manager for Xingtai Century Auto Trading Co., Ltd., responsible for financial reporting and financing. Mr. Lv graduated from Xingtai Accounting and Trade School and earned a bachelor's degree in Accounting. He is a Certified Public Accountant in China.
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Tue, May 21, 2013 12:00 - Longhai Steel, Inc. (LGHS: OTC Link) - Venue Change - The symbol, LGHS, no longer trades on OTC Link/FINRA BB. As of Tue, May 21, 2013, LGHS trades on OTC Link. You may find a complete list of venue changes at otcmarkets.com. |
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