[gosox12]

Yes and we all fell for what looks like a scam.

[zerohedge]

They need to ban companies that lie cheat and steal -

[jimr1717]

They need to revoke piles of shit like this

[modes948]

Perhaps somebody else asking them that he wants to sell them his shares as soon as possible without mentioning the Preferred Shares?

[RealDutch]

They have to tell you.

[aandt]

They are now designated SEC Reporting CF, which means they are only required to file annual reports.

[modes948]

Any guesses why still Pink Current?

[modes948]

No reply yet to my email asking them to buy my shares but to tell me if I will get the Preferred Shares.

[Zorch305]

They need to ban these communist from US markets.....

[zerohedge]

12 YEARS LATER AND IT’S STILL BEING PUMPED AS A GREAT IDEA. WHO COULD IMAGINE. WE WERE WITH THE LAST THREE CHAIRMEN IN CHINA IN GANSU AND SHANGHAI, BEIJING, AND IT’S ALWAYS BEEN THEFT. THEFT FROM THE CHINESE GOVERNMENT AND THEN THEFT FROM SHAREHOLDERS WHO THOUGHT THEY HAD REAL ASSETS UNDERLYING.

[spartyJ]

Don't worry they will all find another Chinese scam to gravitate towards. It's like a bad crack habit.

[Petrejus]

SEC's Tips, Complaints and Referrals
Perhaps this could be a starting point for disappointed shareholders who question whether it could be illegal to offer the shareholders 20 cent/share without disclosing the assets in the company.

[RealDutch]

Sent you an email.

[aandt]

Seems that the preferred dividend is now ancient history. I agree unacceptable. Like I said before, my confidence is quite low after this move.

As for a lawsuit, I can't get involved right now for personal reasons.

[RealDutch]

Ugh. So they are not updating us on the preferred dividend? We don't even know what the plan is? None of this is acceptable.

I am willing to provide the funding for a lawsuit. If you do most of the work. You know the company and you can read Chinese. We also need a lead plaintiff probably who can also help finance the lawsuit. You know who I am referring to. Either we do it like this or not at all. I don't have all that many shares, really. We could start with this in January.

[aandt]

I agree that this .20 is ridiculous. I wrote to the company and told them so.

But for the filing, I also asked IR about it, they responded last night and said they are not required to file quarterly reports now that they are classified as SEC Reporting CF, they are only required to file annually. I looked into it, and indeed it's true. C filers are only required to file the annual report by the SEC.

Personally, I am not happy with how this is going. I hope they come up with something better, but my confidence is quite low after this.

[RealDutch]

Gentlemen, Modes had a good point when he said they can't be offering us $0.20 now with the preferred stock dividend included when they were previously planning to sell shares for $0.25 WITHOUT the preferred dividend.

And I know for a fact (from the Chinese filings) that they invested at least $150M in museums which means the off-balance sheet assets and preferrred dividend should be worth at least $1 / share.

It would be quite illegal and criminal to offer us $0.20 for our shares without disclosing the true asset value. Without giving us the preferred dividend separately. Which should also include the 5 high-value plantations.

They haven't filed the quarterly report yet. Perhaps they are struggling, legally. Because I just told you what they have to do. They basically have to give us the preferred dividend separately. Either that, or the Gods will have no mercy on them.

Low-ball offer has nothing to do with it. They can't be doing stuff that is illegal.

[MaterialMind]

I hope that will be the case. I wonder if there is any minimum period they need to wait between each offer in that case, to avoid legal problems with people who accepted a low-ball offer?

My price is also below $30, but they need to multiply their offer at least 25x before it gets close to reasonable. 100x ($20) I'd accept without hesitation. They should have started above a dollar, say
around $3-5. At that level I think many would have accepted.

Anyway, I am in no hurry to give up my shares. They'll have to sweeten the pot quite a bit to get mine.

[Svalby]

Your overbooked flight analogy is interesting. I suppose they could keep increasing the offer until most of us minority shareholders accept. That would lower their cost and because the offer is voluntary an audit would not be necessary. That which must remain hidden remains hidden.

Of course then we will never know true value. But does that matter? Everybody has a price. Mine is below $30 but a hell of a lot more than 20 cents!

[Petrejus]

That is a thought that crossed my mind too, when I tried to figure out why they are offering people 20 cents for a $30 stock.

A bit like when a flight is overbooked. They offer people money to take a later flight and by gradually raising the bid, someone eventually takes the plunge and voilá - overbooked no more.

20 cents is massive compared to the current price when they filed the stock repurchase program. But it is pretty far from the $30/share worth of assets they are hiding "off the balance sheet".

Perhaps they are trying to shake loose weak hands. Better to buy up shares on the cheap now before having to pay what the shares are worth down the road.

[Svalby]

Perhaps they are trying to shake loose weak hands. Better to buy up shares on the cheap now before having to pay what the shares are worth down the road.

[gosox12]

Thanks for the clarification. Certainly not an offer worth considering. Looks like our only hope is something forcing them to disclose the full value of HERB. and I'm not holding my breath on that. As we often say in the U.S.. "Time to put a fork in it cause it's done!!"

[snow]

gosox My interpretation is that you would own bonds worth 2,000 dollars paying altother 100 dollars in interest per year over 10 years. After 10 years you will receive 2,000 dollars.

[gosox12]

Snow, I sent this to Aandt but would welcome your thoughts on this as well. Thanks

I'm having trouble understanding how the share buyback/bond payments would work and would really appreciate your help here.

Let's say for illustrative purposes, you own 10,000 shares. At .20 per share you'd get $2000 from Herb. How would the bond issue work? Would you now also own 10,000/1000 = 10 bond shares paying 5% of $1000 or $50 x 10 =$500 per year for 10 years?.

Or would you now own 10,000 of these $1000 bonds paying 5% per year ($50) over 10 years?
I

[gosox12]

Aandt,,

I'm having trouble understanding how the share buyback/bond payments would work and would really appreciate your help here.

Let's say for illustrative purposes, you own 10,000 shares. At .20 per share you'd get $2000 from Herb. How would the bond issue work? Would you now also own 10,000/1000 = 10 bond shares paying 5% of $1000 or $50 x 10 =$500 per year for 10 years?.

Or would you now own 10,000 of these $1000 bonds paying 5% per year ($50) over 10 years?

[jimr1717]

LMAO what a sham

[aandt]

Disclosing the off book asset values would be a huge boost.

[gosox12]

Thanks. But what could possibly raise the share price above .20 on the OTC?

[aandt]

Yeah I don't know what to think. My initial thoughts are this is not a good offer at all. The true asset value is MUCH higher. Looking at the current share price, it might be tempting to some I suppose.

Hopefully they will get the filing out. Disclosing the assets would be huge. But I don't think they will disclose. Just more of the same is what we will get most likely.

[gosox12]

Re: 8K?

Forgetting about the 5% bond, would it makes sense to cash in now at .20 on the buyback, with the current bid about .05?

[modes948]

Unless they will pay the preferred shares even if you sell them your shares which is probable since we had them before the date they had mentioned in their filings.

Anyway I just hope now that they will file the 10-Q and not go dark once again and then hopefully they will not forget their promise to pay a preferred dividend.

[RealDutch]

Icecream, anyone?

[RealDutch]

Exactly Modes.... You got it !

[modes948]

They are selling shares that are not entitled for the preferred dividend @0.25 and they want to buy the shares entitled for that dividend @0.20?

[snow]

Normally it is regarded as positive when a company buys back its own shares. There seem to be at least two ways it may be done. It may happen in the open market for cash at any price. Or it may be a negotiated deal for 20 cents per share but for a 10-year corporate bond that pays 5% annual interest. The second option is of no interest to me and I think next to no shareholder is interested since you risk not being able to sell the bond at a reasonable price.

[RealDutch]

Dear brother of mine,

I know you are reading this.
I will repay the loan plus interest towards the end of december.
Unless the company I currently work for will rip me off as well.

You can keep the HERB shares that you owe me.

[RealDutch]

And my fellow shareholders don't want me to sue them, so.

[RealDutch]

It's somewhat of a relief actually. Now I don't have to waste more of my time on this pathetic company.

[RealDutch]

Game over, Snow. I don't see you buying the stock hand over fist. LOL.

[snow]

RD We are free to accept selling any shares or not. Moreover, there is a limit to the number of shares that are bid for. But 20 cents is almost 4 times the recent bid.

[RealDutch]

20 cents they are giving us for a $30 stock.
It's game over. They are ripping us off in broad daylight.

[snow]

The market does not seem impressed about 20 cents: 0.0572 / 0.084 (1 x 1)

[RealDutch]

What do you mean?

[NewJerichoMan]

WTF!

[aandt]

8K filed - Share buyback... HMMM

https://www.sec.gov/Archives/edgar/data/1123312/000121390023086725/ea188187-8k_yashenggroup.htm

On November 8, 2023, the Board of Directors (the “Board”) of Yasheng Group (the “Company”) authorized and approved a share repurchase program for up to $1 million of the currently outstanding shares of the Company’s common stock over a period of 12 months. Under the stock repurchase program, the Company intends to repurchase shares through open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”). The company is currently authorized to issue corporate bonds (minimum $1000 face value) payable at 5% interest per annum for a period of 10 years to shareholders that agree to sell their shares to the Company in exchange therefor at $0.20 per share. Shareholders may email [e-mail] for further details regarding exchange of shares for bonds.



The Board also authorized the Company to enter into written trading plans under Rule 10b5-1 of the Exchange Act. Adopting a trading plan that satisfies the conditions of Rule 10b5-1 allows a company to repurchase its shares at times when it might otherwise be prevented from doing so due to self-imposed trading blackout periods or pursuant to insider trading laws. Under any Rule 10b5-1 trading plan, the Company’s third-party broker, subject to Securities and Exchange Commission regulations regarding certain price, market, volume and timing constraints, would have authority to purchase the Company’s common stock in accordance with the terms of the plan. The Company may from time to time enter into Rule 10b5-1 trading plans to facilitate the repurchase of its common stock pursuant to its share repurchase program.



The Company cannot predict when or if it will repurchase any shares of common stock as such stock repurchase program will depend on a number of factors, including constraints specified in any Rule 10b5-1 trading plans, price, general business and market conditions, and alternative investment opportunities. Information regarding share repurchases will be available in the Company’s periodic reports filed with the Securities and Exchange Commission as required by the applicable rules of the Exchange Act.



This report contains forward-looking information, as that term is defined under the Exchange Act, including information regarding purchases by the Company of its common stock pursuant to any Rule 10b5-1 trading plans. By their nature, forward-looking information and statements are subject to risks, uncertainties, and contingencies, including changes in price and volume and the volatility of the Company’s common stock; adverse developments affecting either or both of prices and trading of OTC securities, including securities listed on the OTC Markets; and unexpected or otherwise unplanned or alternative requirements with respect to the capital investments of the Company. The Company does not undertake to update any forward looking statements or information, including those contained in this report.

[Petrejus]

Still no Q3 report. They have got until Tuesday Nov 14. Five more days.

[jimr1717]

Snowed once again

[Zorch305]

thats what the chinese have to come up with real quick

[snow]

zorch Where is the money to pay a meaningful cash dividend?

[Zorch305]

The simple thing would be to give a cash dividend