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Thanks for the reply. That would make sense.
Just wonder why they would update the registration on July 21 as that link seemed to imply (unless that's when the site updated their blurb on JB&ZJMY Tech Group company).
JB&ZJMY Technology Group Holding updated registration on 7/21/2017.
https://www.bizapedia.com/nv/jbzjmy-technology-group-holding-inc.html
I do not see anything new here, just the registration must have been updated.
http://www.nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=Q1n7TXpdWAOEA8b%252bgfSZyg%253d%253d
My thoughts are JB&ZJMY Technology Group Holding was formed as a Private company in November 2016 in NV and is the actual entity that was reversed merged into DOLV. I mean, why form this company (Nov 30, 2016) a few days prior to when(Dec 2, 2016) Wang acquired the preferred shares of DOLV?
ZJMY could have been reversed merged directly from China, but I think Wang formed the US entity to avoid being doubly taxed which applies when a foreign company reverse merges into a domestic US shell company. There are probably other reasons too.
Why did Wang need to reverse merge his NV registered company into DOLV? Why not just roll with that registered company?
In short, to become public.
I believe JB&ZJMY Technology Group Holding is registered as a private entity. I never saw their ticker or public shares for sale. They became public by reverse merging into DOLV.
Since they are listed as a "Holding" company, I believe ZJMY, WuHu and others were included in JB&ZJMY Technology Group Holding company when it was registered in NV.
I believe the above mentioned NV based company Reverse Merged into the WY based public company, Dolat Ventures, which subsequently changed its name to JB&ZMJY Company and later on July 14, 2017 to JB&ZJMY Holding Company.
We will see our new board of directors will match those listed in NV once the WY information is updated (probably in an articles of amendment or filing).
All IMO.
Thanks for disputing misinformation. It can further be verified by looking at the Issuance History (page 5) and the Beneficial Owner table (page 9) from first quarter report showing Anying Huang owning 78 million shares or 10% of the OS. The shares were acquired on March 8, 2017.
Good things come to those who wait. Not likely all our brokers and the Depository Trust Company would implicate themselves in a scam. Doesn't seem good for business.
Ignore the noise. We know the DD. I'll lean toward months of DD on DOLV and its subsidiary JBZJMY. We are current on OTCmarkets. We have our first Quarter filing of 2017. We have name changes on WY SOS.
More information coming down the pipeline soon: 2nd Quarter filing, official Finra posted name and ticker change, company news...
Please provide a link to support your statement. Wild accusations will not fly on this board.
Dozens of longs have verified with their brokers that once the DOLV ticker change occurs it will be a 1:1 transfer. DOLV shares will be transferred out and the new shares of our new ticker (maybe JBMY) will replace them at a one for one ratio. That is how my broker explained the process. Their system (Scottrade's) which is updated by the Depository Trust Company (DTC), showed the 1:1 ratio and the new name as JB&ZJMY Holding Company.
Call your broker and ask about the pending name and ticker change details.
1:1 means no reverse split.
Name and Ticker Change DD, Finra forms revisited:
See my Finra post with the 2nd Form (Issuer Company Related Action Notification) I screen shot. The second form is Required if a company wants to change its name and ticker.
FACT is JB&ZJMY filled out this form with the corporate actions or no name and ticker change will happen.
My Finra Form post and 60 day comments.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133200601
Some think the name and ticker change may be July 24 given the 10 day notice a company has to give Finra for corporate actions. I believe that is a bit optimistic.
When will name and ticker change occur?
My first guess (see my reasoning by seeing another company's merger/name change process near bottom of this post) is 7/31/2017.
My second guess would be 8/8/17(8).
I've been wondering if the company first sent the Issuer Company Related Action Notification form 10 days prior to April 6 PR, since a reverse merger is a corporate action, and/or they sent it 10 days prior to the May 8 WY SOS name change (if the May 8 file date is the effective date for the name change). Following this logic, the Finra form may have been corrected to include "Holding" in the company name and submitted to Finra on July 4, 2017, 10 days prior to July 14 name change (if that is the effective date).
https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=217161243108068011203050228075228024036162237117
The April PR seems to indicate the form had already been completed before April 6. IMO, Finra requested additional information in the form of a more detailed audit (security times article reference) and in the form of a corporate action name change on 7/14/17 to make the correction "Holding" to JB&ZJMY Company.
http://www.otcmarkets.com/stock/DOLV/news/Dolat-Ventures-acquired-by-China-Based-Battery-Manufacturer?id=155356&b=y
Who reads Dolat Ventures PRs (news) and company profile on otcmarkets anyway? (sarcasm*), not to mention the 1st Quarterly report for 2017, the WY SOS company name changes, broker DOLV business descriptions ect... It's easier just to make up your own reality. DD sounds like work. I don't want to take the time to put the DD puzzle together(sarcasm*). I mean, my word, there're thousands of pieces to this puzzle.
https://www.otcmarkets.com/financialReportViewer?symbol=DOLV&id=175678
Sweet! The loyal longs trusted that you there at your word. Thanks for assuaging the rest of the bunch with Pics.
Timing is Key
Nice. You should write our company PR.....someone needs to.
Finra Forms and information on Corporate Changes
Here are my thoughts on the Corporate Change and 60 day timeline.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133076303
https://www.finra.org/industry/faq-upc-corporate-actions-faq
Looks like Chery is taking Chery Cowin (Kay Wing) back under their wing (pun intended).
Kay Wing is an arm of Chery Holdings, founded in March 2014 as Wuhu Kay Wing Automobile Co., Ltd. It relies on Chery OEM. Kay Wing uses Chery's production platform. Kay Wing just calls the vehicles different names. According to the article, now Wuhu Kay Wing Auto (Kay Wing) will be coming back under Chery's direct control.
The article says the reasons for the return of Kay Wing to Chery "is not clear". I think it is abundantly clear to us. Chery put a lot of investment into the Kay Wing division and their sales are dipping. IMO, Chery is going try to revamp the slumping sales on the Kay Wing line by the partnership/OEM agreement with JB&ZJMY. JB&ZJMY will be(are currently) using Chery as an OEM to provide the V3 bodies and chassis (shells) and probably provide other shells too like the X3 or C3 in the future. Floridany has mentioned Chery will produce buses for JB&ZJMY as well.
I Visited ZJMY and Met President HAN Zhiming
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133028011
I stray away from calling daily pps. IMO. The board DD, news articles and the like are not the significant driving forces behind the PPS.
They may influence it a few cents either way, but ultimately it will be the ticker change and company released fins and news that send us soaring.
When we see the sales and revenues, then the real pps valuation of JB&ZJMY can and will be determined and the stock price, like water, will eventually settle at or near that level. I believe it will be a very high level.
Thanks for the reply.
That's why the longs here are anxiously waiting Finra to publish the name and ticker change to the daily list, since we (generally) believe,IOO (in our opinion), that financials and news will start to flow from the actual company (JB&ZJMY Holding Company) once they are no longer identified as Dolat Ventures. Counter productive and probably confusing to investors to highlight the dissolved shell company with PRs and Financials from JB&ZJMY.
We know the DOLV shell will break open and give birth to the reversed merged company, JB&ZJMY, as stated in our April PR.
The Great Bambino (Wang Dequn)...Babe Ruth (Wang Jinlai)...YOU MEAN THAT IS THE SAME GUY?!!!
The Security Times reporter was right on that assertion.
Excellent work Shark and Mako. Thanks for posting.
I understand that. I was referring to the first name change in early May. That first amendment for name change on the articles of incorporation was filed on May 8, 2017 as JB&ZJMY Company. Again see Name Change history on WY SOS.
Please answer my question: Why did the DTC have JB&ZJMY Holding Company in their system in early May when the new Name Change did not happen on the WY SOS until 7/14/17???
There have been 2 name changes now. I believe the company made a mistake on the original articles of amendment for name change in early May and Finra noted that issue. I believe Finra required the second name change by the WY SOS so that it would match the form that was submitted to Finra probably in early May imo.
I am not sure if that would require an additional 60 days since a name change is considered a corporate change. Where it is a correction and they have already waited the 60 days, they may not have to wait again imo. Does Finra tack on an additional 60 days to a company's wait time if they reject a name for any reason (like say it was too similar to a well known name already). I doubt Finra restarts the 60-day clock each time they reject a company name or it has other issues. IMO, Finra was notified of the corporate change the first go around in early May and that is why the DTC and therefore, the brokers had it in their systems.
Call your broker and see if a name and ticker change is pending. It is the simplest way to get a solution.
I believe the TA sent Finra the correct name the first go around. Finra probably required that WY make the correction to move forward on the ticker and name change, IMO.
Contact your broker and ask them if DOLV name and ticker will change. Scottrade has informed many on this board that the new name for Dolat Ventures will be JB&ZJMY Holding Company matching the Wyoming Name Change dated 7/14/2017. Posters have included screenshots of the online chats for verification.
WY SOS Name Change 7/14/17
https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=217161243108068011203050228075228024036162237117
I'm not going to dig those up for you since it is easier to simply call your broker and ask or do an online chat. Not all brokers had this information, but a name and ticker change is coming.
People are missing a critical point.
IMO, it was submitted to Finra properly the first time around as JB&ZJMY Holding Company because that is the name that showed up in many brokers' systems from the Depository Trust Company (DTC). Who notifies the DTC? Finra? The Transfer Agent? Either way they had Holding included in the name when the DTC put it in their system.
Why would the DTC show the correct name JB&ZJMY Holding Company in their system months ago??? (May was when we called our brokers to verify name and ticker change)
That tells me the form had the correct name on it when it was sent to Finra.
Here's the finra form. Doesn't look too complicated.
https://www.finra.org/sites/default/files/TA%20Form%20Update%208%204%2014.pdf
The mistake IMO was on the WY SOS file. As such, I do not think that they would have to redo the Finra form if it was already done correctly the first time. IMO, Finra looked at the WY incorporated name and saw it was missing the "Holding" part and then told the company that it needed to be corrected on the WY SOS so Finra can proceed.
I am not sure if Finra will see it as a corporate change if JB&ZJMY had the correct name on the Finra form. It did have to change in WY, so we may have to wait another 60 days.
It was always a point lacking resolution for me not having "Holding" in the WY SOS Incorporated name. I think Finra saw it as an issue too. All IMO.
Name Change section on Finra form below. Note: they give an anticipated effective date for the corporate action.
Tesla and JM&ZJMY IPO/NASDAQ side by side comparison. Yes, I'm going there.
http://www.nasdaq.com/markets/ipos/company/tesla-inc-665410-63240
Base on Tesla's IPO at $17, our NASDAQ list price could be $5 plus pretty conservatively. Choi, I agree on your conservative run prediction.
Agree. They will not be down-playing their holdings. They want to maximize profits.
I don't think they will need to pump at all. The sales (like the thousands of low speed EV sales cited by Floridany) will speak for themselves.
Investment Banks will be competing to do the bought deal (underwriting) for the JB&ZJMY Holding Company listing to NASDAQ.
It is huge money for the investment banks. There is a bid process and the Investment Banks will be vying for JB&ZJMY's attention.
Quotes showing sense of urgency from Flo's stickied post (company wants to hit the market hard and fast):
Looks like there are some challenges but Chinese banks could do a bought deal on JB&ZJMY for the listing to NASDAQ according to this article.
http://www.nasdaq.com/article/china-banks-miss-out-on-us-investment-banking-bonanza-20170426-00028
Good question. By my reading the investment banks that orchestrate a bought deal (aka firm commitment underwriting) could be from China (still looking for something concrete). That would make it easier for them to sell shares in China as well.
FAQ on bought deals and block trades.
https://media2.mofo.com/documents/faqs-bought-deals-block-trades.pdf
Great Article explaining Investment Banking and selling securities.
http://thismatter.com/money/stocks/investment-banking.htm
JB&ZJMY should have no problem garnering the interest of a large investment bank to do a bought deal (aka firm commitment underwriting).
That way JB&ZJMY can be exempt from jumping through most of the hoops.
No one year waiting period on OTC.
No four years of audited Annual Reports needed.
No sustaining a minimum share price for specified amount of time in order to list.
In short, a bought deal eliminates the waiting game.
Reverse Merger rules for listing to NASDAQ.
The article below on Reverse Merger rules is worth a read. It is the most informative Reverse Merger article I have read. I'll emphasis the key points.
In order to forego the one year "seasoning period" on the OTC and uplist to Nasdaq the company needs a "firm commitment underwriting" or it needs 4 Annual Reports with audited financials.
Since we don't have 4 years of audited financials, JB&ZJMY will need a firm commitment underwriting from an investment bank in order to avoid the 1 year waiting period on the OTC (more on firm commitment underwriting below article).
My post containing the article:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133022893
https://www.hg.org/article.asp?id=24160
Thanks times a million. It takes a selfless character to share research that has taken much of your time and resources. You could choose to be silent, make yourself rich and avoid the negative feedback ingrained in this board, but you choose a higher path.
Thanks again. The longs have continued to be on target.
-Low Speed EVs for sale with "multitudes of thousands sold"
-SUVs in mass production with August launch
-Chery and Long Star connections; they will provide the EV shells and chassis
-ZJMY will provide battery, electric motor and electric controls.
I agree that was a dumb question at the time. Two different types of shares.
I just wish I had some preferred shares.
I have to make a correction to my post on it's all coming together.
From this article, my theory is incorrect. A company does NOT have to be a U.S. private company in order to reverse merge into a U.S. public shell company.
My question goes out to the board:
Why would JB&ZJMY Technology Group Holding incorporate (as a private company I assume) in Nevada at all, if the China based ZJMY could have merged directly into Dolat Ventures?
It's probably covered in Oravek's book.
My answer is this:
There has to be advantages to doing this. Maybe it is to avoid being double taxed. I believe I read something on avoiding being taxed doubly in reference to reverse mergers involving foreign companies.
I understand the Reverse Merger process of a private company going public through a publicly listed shell company.
https://www.hg.org/article.asp?id=24160
Here is my earlier post on Wuhu. ZJMY (Wang Group) acquired them in Jan of 2017. That post contains a link to Wuhu's (pre ZJMY) business plan that talks about the battery swap stations and Chery as the original equipment manufacturer (OEM). Wuhu brought a lot to the table.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132836090
I believe the 1st quarterly report, showing the investing activities of about 1.8 million in patents and Intellectual Property may have been for some of Wuhu's property imo. ZJMY acquired Wuhu in the first quarter of 2017.
https://www.otcmarkets.com/stock/DOLV/filings
From July 11 Quarterly Report
I believe they did merge several companies into JB&ZJMY Technology Group Holding on the Chinese side, but they had to incorporate Tech Group first in the US prior to merging into a US company, Dolat Ventures.
IMO, my following statement is the key to all this (if my theory is true):
A company has to be incorporated in the US in order to reverse merge into another US company.
llhabela had PM'd me on the the total share count greater than 2 billion issue if they were converted. Been trying to figure that one out.
I would think the most updated 7/14/17 WY SOS Name Change and Other Changes File would be correct stating the 250,000,000 Class E shares if they were converted.
Could those 54 million shares be factored in or out here to put us under 2 billion? Just a thought.
I'm interested in the $10 per preferred share statement found on page 3 of the 7/14/17 document. Preferred shares redeemable for $10/share beginning Jan 1, 2018.
Are they expecting the stock to be worth $10/share at that time????
https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=217161243108068011203050228075228024036162237117
I just posted on the Technology Group discrepancy. It all makes perfect sense now. It's not a discrepancy at all.
See my reply to Bobdude.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=133020632
Thanks BobDude. It's all coming together.
I forgot about your DD Dense (DDD) Post from 7/3/17. Thanks again for your DD compilations.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132701508
I'll rephrase to make sure my logic makes sense (correct me if I'm wrong):
A company has to be incorporated in the US in order to reverse merge into another US company.
JB&ZJMY Technology Group Holding incorporated in Nevada on 11/30/2016, to be able to Reverse Merge into the US company Dolat Ventures (DOLV), incorporated in Wyoming.
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=Q1n7TXpdWAOEA8b%252bgfSZyg%253d%253d&CorpName=JBZJMY+TECHNOLOGY+GROUP+HOLDING%2c+INC.
https://wyobiz.wy.gov/business/FilingDetails.aspx?eFNum=217161243108068011203050228075228024036162237117
Pursuant to the merger, the newly formed company, JB&ZJMY Company (Company name filed on WY SOS on 5/8/17), acquired all the shares of Zhongji Ming Yang (ZJMY), in exchange for 100,000 Preferred Shares of Class D stock, convertible to 250,000,000 common shares based on WY SOS changes on 7/14/17. Wuhu Huaba EV company was already part of ZJMY (taken over by Wang Group on 1/23/2017, see my post below).
I believe the 100,000 Class E Preferred shares could be for an acquisition of another company.
Wuhu had commissioned Chery as an Original Equipment Manufacturer (OEM) (prior to be taken over by ZJMY).
I believe JB&ZJMY is commissioning Long Star as an OEM as well, since ZJMY's EV Production Base is the Long Star Factory.
From Wuhu Business Plan, prior to ZJMY takeover.
300,000 class C to Wang. 100,000 Class D to ZJMY. Not sure on the other 100,000 Class E. Maybe for another company in the holding company.
See April PR where it states this.
However April PR states the class D are convertible to 100,000,000 common. WY SOS (page 3 I believe), posted by xZ shows that they are convertible to 2500 common shares each just like Wang's for a total of 250,000,000 shares.
The Class E has the same conversion rate, 2500 common shares for each preferred. The class E may be for Wuhu or Long Star? Imo, ZJMY may have paid cash for Wuhu though (remember 1.8 million in investments listed in last quarterly report for patents and copyrights). Wuhu was acquired in the 1st Quarter (Jan 2017) as my post a word on Wuhu shows.
Long Star may just be a partner. We will see soon.
http://syndicate.pinksheets.com/stock/DOLV/news/Dolat-Ventures-acquired-by-China-Based-Battery-Manufacturer?id=155356&b=y
No dilution unless converted.
Good find on the WY "Holding" addition to name. That has always been a point lacking resolution for me ever since brokers were saying JB&ZJMY Holding Co.
I'm not sure why the magazine and share warrant (based on the assumption they are real), would say JB&ZJMY Technology Group Holding, Inc.
One theory of mine is JB&ZJMY Technology Group Holding Inc. and JBMY are reserved for the NASDAQ stage. I remember earlier from the JB presentation JBMY was on a slide with NASDAQ reference. I believe Bobdude posted that. I may dig that up later.
Brokers have confirmed JB&ZJMY Holding Company as the name and JBZH#9 as the ticker place holder (as recently as a week ago according to Scottrade). That name NOW matches WY SOS which makes the most sense to me. JBZH makes great sense too for obvious reasons (JB&ZJMY Holding) but JBMY would be fine too.
Maybe the company will Shake the tree again and do another name change on WY SOS adding in Technology Group in a few weeks or month from now lol.
Looks like his English signature is improving to me. Nice logical progression over time.
Last Posted Quarterly on July 11 is only one I see that lists this:
We've seen it already with the website.
http://www.zjmy888.com/
and the better known regular domain:
http://zhongjimingyang.com/#page1
Agree that 10 cents is the initial cost (break-even point) and aka total cost for an employee who does not exercise his share warrants. I know they are not obligated to exercise their warrants, just like I did not exercise the options I had in my company (no appreciated value).
The total cost (break-even point) for an employee who does exercise his warrants is always 12.5 cents/share [(10+15)/2=12.5 cents] for any number of share/warrant offerings.
My example looked at it from an equal number of share perspective. Your analysis from an equal investment perspective is a good way to look at it.
However, to make a valid economic comparison, the total investment cost has to be looked at for both employees on a level playing field.
Tweaking your analysis slightly:
(neglect commissions for simplicity, and we are assuming stock price will increase substantially so Employee A will exercise his options)
Employee A = $100 total investment
Employee B = $100 total investment
Let's assume pps of 5 cents (nice simple #) on the buy in date of July 17, 2017, since that is the employee share plan deadline.
Employee A can on use $40 initially, since he needs the other $60 to cover the warrants when he exercises them.
Employee A buys 800 shares at 10 cents/share on July 17 for $40.
Employee A exercises his warrants at a later date and buys 800 more shares at 15 cents/share for $60. Total investment = $100 for 1600 shares.
Employee B buys 2000 shares on open market at 5 cents/share for $100.
Employee A would NEVER catch Employee B at any price because he has 400 less shares. However, if price goes to zero. Employee A loses $40 (doesn't exercise warrants) and Employee B lost the entire $100.
Let's level the playing field and add in the variables.
There are a lot of variables and scenarios. Employee B is not a clairvoyant. He may buy $40 of shares initially like Employee A, still unsure of the company. When he is convinced of the company and its products at a later date, then he may invest the other $60 at a much higher cost. Meanwhile, Employee A's $60 dollar remaining investment is Locked-in at 15 cents/share. Employee B may be paying 50 cents/share or more at that point.
Futhermore, it is likely that both employees will invest varying amounts over time like many of us, as paychecks and money clears. Employee A may be paying for his shares and warrants by a direct company deduction from his paycheck (like my company did). Meanwhile, Employee B is buying shares as he goes along at whatever the current market price is.
The main point is Employee A mitigates risk and leverages potential gain. That is the point of options or warrants. i.e. Smaller investment upfront giving more peace of mind, since he/she is locking in a price for up to 2 years down the road.
I have probably exhausted the share/warrant offering topic for now. I just didn't want people hung up on the idea that a PPS less than 10 or 15 cents on July 17th is the end all for the employees. The warrants can and will be valuable down the road regardless of the pps on the 17th.
My best guess is the annual stating the 10,000,000 was a mistake. If each Preferred C is convertible to 2500 common shares, as with Wang's, then that number seems too big imo.
I'm not sure if an annual has to be corrected once a company has moved on to newer filings. That's my best explanation.
1,000,000 million Preferred C shares would equate to 2.5 billion common, which seems more reasonable than 25 billion common .
Good possibility name and ticker change could be within the next two weeks, but if not, it doesn't change the DD.
Price could be 10 or 15 cents by Monday, the employee share offering deadline, but if not, they will still be fine as long as prices rises above 12.5 cents (the average cost of shares and warrants) within the 2 year exercisable warrant period.
They will be golden if price goes to a quarter or more by July 17, 2019, even if price is only 5-6 cents on Monday.