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I hope not, but we will see I guess when we see? Good luck to all!
I also mailed them yesterday asking basically the same questions and didnt even receive the automatic answer.
Im thinking the managers already ran away with the money and we own an empty shell. Shit.
I sent SCEI email today basically asking if:
"anyone is alive"?
"do we have a pulse?"
"is there any hope?"
The reply is below: (I guess "someone could" be alive?)
automated response, but if all dead, no response?
Contact Us ????: LARGE investor asks: is anyone alive out there?
From info info@sinocei.nethide details
To rayank rayank@aol.com
© 2012 AOL Inc. All Rights Reserved
Hello there-
Thanks for your email.
You message has been delivered to relevant department for further processing,
and will be replied in next 24 hours according to your information.
Best regards,
Sino Clean Energy Inc.
sold at $3.33 and came back in at $1.61.. can't complain too much as I made my share from them and reinvested profit.. hoping for the best
I'm in at 1.94 what a waste of money
I wish I knew, but I would guess at some point it will resume, but at what price?
Any news on this when will it resume or will it ever resume ?
You are welcome..good luck to us all.
thanks for keeping us informed.
FULL email and reply:
-----Original Message-----
From: Robert Koepp <Robert.Koepp@icrinc.com>
To: Rayank <rayank@aol.com>
Cc: jing.li <jing.li@sinocei.net>; Rene Jiang <Rene.Jiang@icrinc.com>
Sent: Sun, Jun 17, 2012 11:11 pm
Subject: RE: trading halt
Hi Rayank,
Thank you for your email. I can certainly appreciate your interest for more information.
The company and its lawyers continue to indicate that they are fully responding to NASDAQ’s requests for information. Unfortunately, NASDAQ does not provide a timeline for when inquiries of this nature will complete. A large volume of information is often required and the processing and review of documents, especially when translation is also factored in, can take time. Once management indicates that there are further material developments to update the market on we hope to work with them to communicate this as quickly as possible.
Best,
Rob
From: Rayank [mailto:rayank@aol.com]
Sent: Friday, June 15, 2012 10:06 PM
To: scei
Subject: trading halt
My son and I are both investors in the company and would appreciate any info regarding if and when you believe trading will resume?
thank you
An email I just got from SCEI:
Hi Rayank,
Thank you for your email. I can certainly appreciate your interest for more information.
The company and its lawyers continue to indicate that they are fully responding to NASDAQ’s requests for information. Unfortunately, NASDAQ does not provide a timeline for when inquiries of this nature will complete. A large volume of information is often required and the processing and review of documents, especially when translation is also factored in, can take time. Once management indicates that there are further material developments to update the market on we hope to work with them to communicate this as quickly as possible.
Best,
Rob
To be honest, I dont uderstand this legal words.
Can anyone explain this a bit?
So your assessment of this is?
Decided on May 21, 2012 by Supreme Court, New York County
Sino Clean Energy Inc. against Alfred Little, SEEKING ALPHA, LTD., GEOINVESTING, LLC and JOHN DOEs ##1-10, Defendants.
http://www.courts.state.ny.us/REPORTER/3dseries/2012/2012_50907.htm
Conclusion
Based on the foregoing, it is hereby
ORDERED that the branch of the motion of defendant Alfred Little (appearing pseudonymously), pursuant to CPLR 3211(a)(8), to dismiss plaintiff Sino Clean Energy Inc.'s complaint for lack of personal jurisdiction, is granted to the extent that the Court finds that CPLR §§302 (a)(2), and (a)(3) do not provide a basis for jurisdiction over the defendant Alfred Little, and denied, without prejudice to renew upon the completion of jurisdictional discovery, as to personal jurisdiction based on CPLR 301 and CPLR 302 (a)(1); and it is further
ORDERED that plaintiff Sino Clean Energy, Inc., shall conduct discovery on the issue of personal jurisdiction based on CPLR 301 and CPLR 302 (a)(1); and it is further
ORDERED that the parties' counsel shall appear at Part 35, Room 438, on June 4, 2012, at 2:30 p.m., for an in-court conference for the purpose of scheduling jurisdictional discovery; and it is further
ORDERED that the defendant shall serve a copy of this order with notice of entry upon plaintiff's counsel within 20 days of entry.
This constitutes the decision and order of the Court.
Dated: May 21, 2012
As we can see, it all is still very much alive. a lot of people are involved in this. keeping my fingers crossed.
From the yahoo message board :
SCEI lawyers submitted the info requested by NASDAQ this Tuesday....no response or comments from NASDAQ yet.....lets hope there is some good news next week!!
These are posts from june 7 and the answer on june 8. I red a couple of post from asianvest and the answers to received and it seems that asianvest isn't very objective. Everyone interested can read about on the following link :
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/forumview?bn=74354&A=L
Have fun, it's entertaining :)
After Loeb gloated through a fancy puffed-up press release on Feb 6th:
"Loeb & Loeb Secures Another Victory in Defense of U.S.-Listed China-Based Companies Under Attack from Short Sellers"
California District Court Dismisses Shareholder Class Action Against Sino Clean Energy
http://www.loeb.com/districtcourtdismiss...
...it now seems that wasn't quite the end of the story... Yes, the judge "dismissed" the initial complaint the way it was written -- but he allowed the plaintiffs to file a Second Amended Class Action Complaint (SAC), which alleges that defendants Sino Clean, Baowen Ren, Wen Fu, Albert Ching-Hwa Pu, Hon Wan Chan, Wenjie Zhang, Zidong Cao, and Peng Zhou made materially false and misleading statements about Sino Energy by vastly overstating Sino Energy's revenues and operations.
...And, on June 4, 2012
in US District Court of California
Case No. CV 11-3936 PA (SSx)
He ruled:
"...Because Sino Clean has not demonstrated that these reports have no possible bearing on the subject matter of this litigation, and because motions to strike are disfavored, the Court denies Sino Clean's Motion to Strike."
-- Conclusion --
"For the foregoing reasons, the Court denies Sino Clean's Motion to Dismiss and Motion to Strike. Defendants shall file their Answer to the SAC by June 25, 2012. Failure to file an Answer by that date may result in the entry of Defendants' default."
IT IS SO ORDERED.
__________________________________________________________________the plaintiffs were given a chance to file a second amended complaint.....everybody knew about it.......im sure scei will respond on or before the deadline....
btw...how do you know about this.......i tried to google it but couldn't find the info that you posted....or did you lawyer told you about this... :)
Yeah, the 2nd part of that post (not an article, and again not my post, but I just copied it from a Yahoo board post), is the NEGATIVE side. I didn't post it then because it wasn't anywhere that I could find, but about a day later I found it.
So yeah, it is puzzling and frustrating for sure.
Good luck to us all.
Nice article and happy to read that more people believe in this.
suddenly i found some reactions from alfred little via twitter. He claims that it is all his doing that the trading is halted.
I reacted on the tweets and today i can not find these reactions on twitter again. They just disappeared. I really hope they catch that guys/guys or others, so they can be brought to justice.
It's just criminal the way they are trying to discredit Sino clean energy. Just hope the trading will start again real soon.
This post is not mine, but I found it interesting and from the yahoo board:
"The case for and against fraud 30-May-12 12:03 pm
First off, I am currently long SCEI, but very recently so. I came into the stock knowing the risks (if there was fraud the stock was worth close to 0, and if not, the stock was worth $5+). I was willing to take that gamble, and there's a good chance it came up snakeyes. That being said, I am not a PUMPER or BASHER, so please refrain from reducing everything to those two categories. This is my take on the events to date and what they could indicate for SCEI and whether or not this stock reopens and trades up, or ends up on the pink sheets and eventually disappears.
As a methodology I will very loosely (and admittedly arbitrarily) assign "points" to each event/data point to determine a general sentiment or predictive power of each. In aggregate it should give us a view of whether or not fraud was likely, and also some indication as to why pre-halt and at $1.30 / share I thought SCEI was worth the gamble.
The case AGAINST fraud:
+ The initial allegation were made over 1 year ago. In other cases of allegation, the stocks were halted weeks after, not months or years. There's no doubt that the initial price action and AL's descent track record didn't raise eyebrows at the SEC/NASDAQ. The odds of wholesale ignoring it are low, and hence someone felt comfortable enough to let this trade for a year after the fact. (+ 3 points)
+ Unlike other Chinese frauds/halts (see XING, QXM, SGOC, etc.) SCEI is up to date in filing 10-Q, 10-K, and 8-Ks. The SEC has repeatedly asked for additional information regarding some of these filings and have been satisfied with SCEI's responses to date. Granted, the filing could just be lies, and this has happened before, but it certainly counts for something. (+ 3 points)
+ Thornhill completed a fixed asset and cash verification process that independently verified the fixed asset base and cash position at the company. You can argue with the quality of the work, or the legitimacy of the auditor, but this certainly counts for something relatively large. The price action after this was released echos that sentiment as the stock nearly tripled. Also, this would make the situation go from a small group of Chinese execs lying and cashing in, to wholesale transcontinental conspiracy. That's a stretch. (+ 6 points)
+ The class action lawsuit against the company was dismissed in CA. The judge ruled the people had not their burden of proof (and they were relying on the AL data). They are appealing or amending their original suit so this is still technically pending, but still this is somewhat material. (+ 2 points)
+ The company sued AL. Which if you were lying and committing fraud, why go to the trouble of suing the guy? Why bring additional unwanted attention and fees and the scrutiny of US courts? Just seems unnecessary. Granted, Sino Forest did the same and filed for bankruptcy so I assign little weight to this, but still worth mentioning. (+1 point)
+ Debra/Crystal Equity. This was a paid report, but still some third party further examining the company and scrutinizing their operations. (+ 1 point)
TOTAL: + 16 points"
i am following it on twitter, but the news there is not to positive, damn. The chinese text is a bit difficult :)
Yep, thx. just hoping things will turn out just fine soon.
These are the latest releases from SCEI on May 23rd
http://finance.yahoo.com/news/sino-clean-energy-inc-revises-154500041.html
http://www.reuters.com/article/2012/05/23/sinocleanenergy-idUSL4E8GN8HC20120523?feedType=RSS&feedName=marketsNews&rpc=43
Anybody has some news on what's going on with SCEI. I keep searching but since it has been halted there is nothing new to be found.
Guess we are almost done? Would be miracle if they resume trading at all. (IMO)
If not, we can sell it for a penny maybe for tax reasons?
most chinese halts are still... halted
not good at all.
nasdaq and and sec have no pitty when it happens.
No Prob trapped with $2 a share in cash...
Not worried in the least...if SCEI was a boiler room they wouldn't promo such ugly news. From my vantage point it's a win-win situation. If they lose the factory the lowlifes who stole the factory from right under their noses have to pay up the deposit plus interest & fines equal to 10% of the property value. Sino Cleaning has about 30 mil o/s with $60-70 million dollars in cash. Worst case scenario they dissolve the Company, sell the assets, and distribute the cash to shareholders. SCEI didn't do anything wrong other than put trust in a mafia partner who reneged on their part of the deal to sell the factory. They promised to sell the barren property, allowed SCEI to dump megabucks into the property to build the infrastructure into a turnkey functioning moneymaking factory, and then told SCEI never mind, and took the property back with all the investement and claim its theirs. Extremely low class....It will all come down to who has their hands or tongues further embedded into the upper echelons of the Chinese government. GLTA
Looks like you're trapped.
It may be a while before it resumes as this is what it is all about:
(in quotes below)
Whether is it "unsellable" or not, I doubt that, but it may take a big hit, or if the outcome is favorable maybe we will be ok?
GLTA
"On May 18, 2012, Sino Clean Energy Inc. (the “Company”) was notified by local court authorities that its Dongguan production facility was to be closed pending the outcome of an ongoing lawsuit filed against Yongchang Paper Industry Co. Ltd. (“Yongchang”), a neighboring business.
The Company’s Dongguan facility, located in Liu Yong Wei Industrial Park, Wan Jiang District, Dongguan City, Guangdong Province, is situated on the same grounds as Yongchang’s manufacturing facilities. In August 2010, the Company entered into an agreement with Yongchang to purchase approximately 30 acres of land and a production factory for a total purchase price of approximately $5,550,000 (RMB 37,200,000). The Dongguan factory was completed and commenced production in January 2011. As of the date of this report, however, Yongchang was still in the process of transferring the land use right certificate for the land on which the Dongguan facility is located, which entitles the holder to use the land and gain the title to the buildings located upon such land.
Yongchang, a start-up paper products company, had planned to launch initial production in 2011. However, due to the nationwide tightening of credit in 2010 through 2011, a policy that the PRC government had instituted in an effort to curb credit-driven inflation, Yongchang was unable to obtain sufficient capital to launch production according to schedule. In late December 2011, Yongchang’s facilities were sealed by local authorities in connection with a complaint that was filed in local court by Yongchang creditors.
The Company’s Dongguan facility continue to operate until May 18, 2012, when, as a result of Yongchang’s failure to timely transfer the land use right certificate for the Dongguan facility to the Company, the local court issued an order to seal the Dongguan facility, despite the Company’s full and separate contractual right to the land and facility thereon.
The Company is in the process of appealing the court order and intends to defend its contractual rights vigorously and to the fullest extent under PRC law. Pursuant to the terms of the agreement with Yongchang, if Yongchang fails to transfer the land and property certificates to the Company on schedule, or leaves the land and property to a third party as pledge, the agreement becomes invalid and Yongchang must refund the full amount of the purchase price to the Company and pay a default penalty equal to 10% of the total transaction price.
However, as a result of the court order, since the afternoon of May 18, 2012, Company has been forced to suspend production at its Dongguan facility. The Company is aggressively seeking to identify alternative production options and may lease additional facilities to service its Guangdong customers pending resolution of the Dongguang facility. Until production is resumed, the Company may incur substantial losses on outstanding purchase orders and may lose business opportunites with current and future customers in the area. The Company is revisiting its 2012 earnings guidance and will revise its guidance to account for any effect that the Dongguan plant closure may have on the Company’s results of operations."
damn.
But I guess usually this means a big sell-off once is restored?
Is it possible that they never comply with what NASDAQ demanded, and we get stuck with un-sellable stock?
thanks..its the first time I see something like this with a stock in my portfolio...
We have to wait the outcome until the information requested is supplied.
WOW.
So..what happens to investors who still have some stock..as ME?!?!?
Genius....aint gonna happen. Best you may do is 120s or 130s. Sino has 50mil in cash and trading @ 1x earnings. Go find that anywhbere on thbe nas or nyse. Go scei!!!!!
One dollar ceiling today. Like to get some cheap shares in the 70s.
Thanks, that makes sense. Overall, the numbers are still pretty good.
The results as been publicised are indeed below the expectations, on the other hand in line whit what I expected. Since the rapport of A.L. this company had to play it richt, and honestly, thy have like most companies boosted their earnings to the extreme.
Slowly thy have to come in line with the reality. What most people have missed is that AL had some points as to high production volumes of their production units, also if you look closely thy are coming clear with the total of their customers.
Let say, I am giving them still some time to come clear.
Yeah, punched me right out of the game. Good luck to you.
Yeah it looks like the report was below expectations, but they still earned around 10 cents per share for the quarter, and earnings should improve the rest of the year. Looking forward to seeing the analyst's updated report.
Does not look to good reaction after earnings ... Dawm
We got a nice punch in the ace with this one !!!
I am loaded up and hoping and expecting they will like it.
Good luck to you too.
Ray
I've been loading heavily on this one. Hopefully the market likes the results. Best to you guys.
Cool, looking forward to the earnings report.
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Effective on August 15, 2007, the Company (as China West Coal Energy Inc.) merged with its wholly-owned subsidiary, Sino Clean Energy Inc., pursuant to Articles of Merger that the Company filed with the Nevada Secretary of State. The merger was in the form of a parent/subsidiary merger, with the Company as the surviving corporation. In accordance with Section 92A.180 of the Nevada Revised Statutes, shareholder approval of the merger was not required. Upon completion of the merger, the Company's name has been changed to "Sino Clean Energy Inc." and the Company's Articles of Incorporation have been amended to reflect this name change. We changed our name to better reflect the direction and business of the Company.
[chart]www.stockcharts.com/c-sc/sc?chart=sclx,uu[r,a]declyiay[dc][pa0!d20,2!b50!b20!b200][vc60][iub9!uh14,3!lc7!lk12!la5,10,4][J73211368,Y[/chart]
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