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Can you direct me to something in the last year that says they are pursuing this.
Longwei's current Facebook posts leave no doubt that they are pursuing the defamation lawsuit.
https://www.facebook.com/search/top/?q=longwei%20petroleum
The 25,000 shares at .021 was a short sale. There was a transaction at the same time at .027 (hidden by market makers on Level 2), a new high in quite some time. Shorty got the short end of that stick.
Price Size Mkt Time
$0.02 1,089 OTO 14:58:30
$0.021 900 OTO 13:18:48
$0.027 13,000 OTO 13:17:40
$0.021 25,000 OTO 13:17:40
$0.022 600 OTO 13:12:59
It was trading at that price when the Motley Fool article was written. It traded at about $3.50 in 2012 before the illegal, naked short-sellers took over.
Don't sell too early. This company has $1 EPS and will issue annual dividends of $.30. That makes it a $10 stock. Read my post on Harbin Electric.
Sure wish they'd give some news or post something. This is like watching paint dry.
Can you elaborate on when this was trading at $1.17? I'm confused, as even the chart from this site shows nothing above $0.2 since Feb 2016. My main concern is that i'm missing important updates/movements by not looking in the right place...idk, but if I ever see $1.17 im selling immediately.
https://ih.advfn.com/stock-market/USOTC/longwei-petroleum-investment-holding-ltd-gm-LPIH/stock-price#3m
Shorts had 99% short volume yesterday. In 2016, there were over 17M short shares compared with 7.3M ADRs, according to court documents. This is setting up a short squeeze for the ages.
Historical Short Volume Data for LPIH
Date Close High Low Volume Short Volume % of Vol Shorted
Oct 30 NA NA NA 105,993 104,948 99.01
Oct 27 NA NA NA 55,159 24,527 44.47
http://otcshortreport.com/company/LPIH?index=lpih&action=view#.VnjOnPkrK70
I'm not looking to sell by Christmas unless we get a very good price. I just wa nt to see some upward movement. Either give me a buyout or release financials with a dividend.
Similar to being a kid waiting for Christmas. There is a chance of it being resolved before then. The shorts are up against it: Longwei’s defamation lawsuit, subrogation from Chubb (60%) and The People’s Insurance Company of China (40%) for the $1.3M claim they paid on the shareholder settlement, market manipulation charges from the SEC and the covering of millions of naked, short shares. People’s is an arm of the Chinese government so they also want some revenge, considering that this affects many other Chinese companies that they insure trading in the US. People's initial refusal to settle delayed the settlement.
I would rather see financials issued and then let the market forces take over. It sounds like shorts don’t have much money anyway. This group, along with Roddy Boyd, lost big when Harbin Electric went private at $24 a share. The only money they have now is probably from illegally shorting Longwei and other Chinese companies.
“And I am sticking to it, but boy oh boy I got proved wrong on Harbin Electric. I lost my ass…” Roddy Boyd said sadly to Reuters.
https://www.theblot.com/sham-southern-investigative-reporting-foundation-sirf-roddy-boyd-fbi-crossfire-7757399
https://www.reuters.com/article/usa-china-harbin/short-seller-target-harbin-electric-goes-private-idUSN1E79S08X20111029
Thanks....i was hoping for a very merry Christmas...but at this rate, lol...sure is taking alot longer than i hoped for
They are probably talking about a settlement because the short-sellers would get killed in court.
If they do re-file the suit, you can log on to the website of the US District Court Eastern District of PA and follow it.
BTW, there were no naked short sales for a couple of months but there was one on 9/22. The SEC really needs to start doing their job.
http://otcshortreport.com/company/LPIH?index=lpih&action=view#.VnjOnPkrK70
Is there anyway we can find out in the court system that lpih is definitely using the defamation suit.
This article is currently pinned. Note that Huajie was paid with cash from profits.
Based on their delay and pinned postings, it looks like they are pursuing the defamation lawsuit.
http://www.prnewswire.com/news-releases/longwei-petroleum-cfo-responds-to-investor-concerns-in-exclusive-interview-119905649.html
https://www.facebook.com/search/top/?q=longwei%20petroleum
Delisting is a Must--Digesting Key Issues in Longwei's Defamation Lawsuit
https://www.facebook.com/longwei.petroleum/posts/136527370014411
This was pinned to FB earlier but is not there now.
It would be nice if they posted the years end report from june 30, 2017 and announced a dividend before September 30, 2017
This is currently pinned to Longwei's FB apage. FINRA's figure does not take into account the millions of naked, short shares still outstanding.
https://heraldks.com/novagold-resources-inc-usa-ng-analysts-see-0-03-eps-longwei-petroleum-lpih-si-increased-by-13-04/
https://www.facebook.com/search/top/?q=longwei%20petroleum
"There is little risk in investing Longwei within the proposed price target as long as you are convinced Jon Carnes and GeoInvesting are criminals."
https://www.facebook.com/longwei.petroleum/posts/136510470016101
Click on their name for the full rebuttal.
Stock does not trade like a penny stock. That is because it is not.
Price Size Mkt Time
$0.02 4,000 OTO 09/12
$0.0199 30,000 OTO 09/12
$0.0175 20,000 OTO 09/12
$0.015 100 OTO 09/12
$0.002 1,200 OTO 09/11
Longwei can re-file the lawsuit. Thanks for your unsolicited response. Good luck to the Geo Gang.
That was the price at the time.
Again, this lawsuit was dropped. Look on Carne's website. Lpih has never argued that, nor re-filed that I am aware of. Denial is a very sad thing. The market is up over 30% in the past year and all Longwei can get is a disinterested 50k in trades. How much cash is that trading hands? Meanwhile, those phantom shorts are at it again, worried they're going to lose their homes, families, and shirts over a 2 cent (up 900% to get there, no less) stock. Give me a break. Please wake up!
Longwei has been completely silent for over 3 years...their scammy CFO is probably still in a haze in his marijuana venture. And the company has been where it is for the last few years for one very good reason. It's a scam. How much did you all settle for per share when a few years ago, this was trading over $2? Why hasn't it ever recovered? Keep dreaming. There's no interest for a reason, but of course some of you won't listen. After all, all the investors, mutual funds, banks etc are blind. OTOH, a couple of posters on ihub know the real deal, lol. Why have investors relations or even a webpage, when you can find all the outdated material you want on fb?
How do you get $1.17/share?
Now what: Longwei's stock currently trades at $1.17, even after today's gain. Diluted earnings per share for fiscal 2011 were $0.61. If that strikes you as silly, that's because it is. Investors are still deeply skeptical of small-cap Chinese companies trading on U.S. exchanges thanks to the cadre of Chinese companies that turned out to be frauds. That means that many stocks are trading at what look like absurd multiples. What's the solution to bring back confidence again? This Fool simply doesn't know. However, what I do know is that the companies that are proven legitimate will likely prove huge winners for investors.
The answer is dividends.
Tony Wesolowsky Well, just sunk a whole lot of money into LPH. Hope this acquisition goes through....
September 20, 2011 at 3:26am
I see lots of public posts...what did the ...comment...you're refering to say
The lawsuit against the short-sellers is the only thing that might cause a delay. Longwei might want a settlement since they won the shareholder lawsuit.
http://a.eqcdn.com/longweipetroleum/files/defamation_lawsuit.pdf
They have an outside IT service.
You know that Facebook is blocked in China right?
Here is the article since their FB page has changed.
https://www.fool.com/investing/general/2011/09/13/longwei-petroleum-shares-popped-what-you-need-to-.aspx
Today, one trade of 1200 shares at $.002. Shorts up to their shenanigans again...desperation is evident.
Longwei is currently showing 2 posts from friends and 1 public post. The company is sending a message judging by the contents of the public post. Also, check out the comment.
https://www.facebook.com/search/top/?q=longwei%20petroleum
I hope they do something positive soon...this waiting is getting old
Yes, it will. Just because a guy named Fatty Boy writes a hit piece does not mean that the Chinese, the biggest energy consumers in the world, stop buying oil.
Much appreciated sir, will do.
I don't see where they posted anything... what did they say
Correction: should be 9/13/12.
The settlement was paid out in June. But keep your shares in the freezer and don't think about selling a single share. Illegal, naked short-sellers still have to cover millions of shares.
You may have noticed that Longwei posted 12 hours ago.
https://www.facebook.com/search/top/?q=longwei%20petroleum
Toups is off the hook. The Appeals Court ruled that SEC administrative judges are unconstitutional because they are hired and not appointed.
https://www.bna.com/sec-inhouse-judge-n73014453438/
BTW, the last 10K was filed 9/13/13.
https://www.sec.gov/cgi-bin/browse-edgar?company=longwei&owner=exclude&action=getcompany
The company talked about a 5% yield on their dividends. I think the yield is closer to 3%, making this a $10 stock. Remember, there are only 7.3M ADRs in the US. These share a very valuable.
I still have LPH stock that I havent sold. Wondering if anyone can tell me how I can see if I'm eligible to take part in the class action suit? Or if I'm already on the list.. Any advice is greatly appreciated, thanks.
Before 2013 when they reported yearly statements it was always between August 9th and 13th so hopefully within the next two weeks will start hearing something from this company. That's just my opinion.
I got one probably a little over a month ago if I can remember correctly....... As for the dates I know you had to have it up until January second or third of 2013 but I don't remember if you had to purchase it in 2010 or 2011 until January 2013
who has gotten a ck so far ?
what was ther date that you had to hold from ?
Not off hand I figured even if I did call whatever phone number is on their press releases they might not answer and if they do they speak Chinese and I don't LOL. are you there on business or do you actually live in China. how far away are you from one of their terminals. are you close enough to ride by one day and see if there's any activity or even stopped into one of their gas stations and maybe get some information whether you can talk to somebody
Has anyone reached anyone from the company ?
I am in China if you have any contact information ?
The last yearly results that were issued in a press release was August 13th 2012 so we might have to wait another few weeks hopefully no more than a month to hear some news from the company
Yeah, year end is June 30... Hopefully we won't have to wait 90 days for yearly report. I think they used to have it done and reported by end of August. Sure would be nice to hear something by end of July
Here are some interesting updates:
http://www.msn.com/en-us/money/stockdetails/fi-125.1.LPIH.GREY?symbol=LPIH&form=PRHPSQ
Longwei's year end is this week. They might wait until the audit is completed. This is where they accrue the dividends, if they already haven't done so.
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Company Overview:
Share count:
86.1 million Basic
113.8 million diluted
Founded in 1995 and approved by the Ministry of Commerce of the People's Republic of China, Longwei is one of the leading diesel, gasoline, fuel oil and solvent oil distributors/wholesalers in Taiyuan City, Shanxi Province, P.R. China. The Company sells its products mainly to large-scale gas stations, coal plants and power supply companies, and on a smaller scale to small, independent gas stations. Longwei also owns a railway system to transport its products to customers. The Company has 40 employees, including three management personnel.
The Company's third-largest customer base is made up of small independent gas stations. Longwei owns twelve gas stations in Shanxi Province, of which it operates one, with the other eleven being franchised gasoline stations.
The Shanxi Province is growing at 9%-10% a year and is the third largest consumer of petroleum products in China. In fact, the power plants in Shanxi Province provide Beijing — China's second largest city and capital — with 30% of its electricity. Currently, there are 4,692 gas stations servicing approximately four million cars in the province, providing Longwei with an abundant available target market for its products. In addition, Shanxi Province is a highly localized and specialty market, thus Longwei does not compete at the national level.
Link to the company's latest earnings PR for the 1st quarter of Fiscal year 2010: http://finance.yahoo.com/news/Longwei-Petroleum-Announces-prnews-2586701282.html?x=0&.v=19
-- Revenue up 33% Year-over-Year to $59.36 million
-- Net Income up 31% Year-over-Year to $7.21 million, or $0.09 EPS
-- Net Income Excluding Non-Cash Fair Value Adjustments Associated with
Stock Warrants was $8.26 million, or $0.10 EPS
-- Operating Income up 48% Year-over-Year to $11.06 million
Mr. Cai Yongjun, chairman and chief executive officer of Longwei Petroleum Investment Holding Ltd., stated: "I am very pleased with our financial results for the first quarter of fiscal 2010. I can also say that plans to have our Gujiao facility fully operational in January 2010 are on track, and the facility is already fulfilling some small but daily customer orders for us at this time. We look forward to strong growth in both Taiyuan and Gujiao during the next several years to come."
* Longwei owns one state-of-the-art fuel storage facility with 14 storage tanks providing a total capacity of 50,000 metric tons in the Shanxi Province.
• The Company is currently constructing a second fuel storage facility in the industrial city of Gujiao which will add 70,000 metric tons to Longwei’s total capacity. Construction is expected to be completed by the end of 2009.
• Longwei has exhibited average year-over-year revenue growth of 46% and net income growth of 39% over the last five years.
Company website: http://longweipetroleum.com/
Investor Relations: RedChip Companies, Inc. - Dave Gentry (407)644-4256 ext. 104 e-mail: dave@redchip.com http://www.redchip.com/home.aspx
Link to video about Longwei's operations: (Copy & Paste) mms://wm.vitalstreamcdn.com/aurelius_vitalstream_com/RC/podcasts/lpih/LPIH_Promo_8212009.wmv
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