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u must be ghetto'n it, but are u gettin it... lol
That small paragraph is very worrisome. Can anyone here reassure me that this is not yet another Chinese Scam Co., and there are actually underlying assets of matching value attached to these businesses from which the rug cannot be just pulled with-under? I hold a few thousand shares which to some may not be very much, but it is to me. I've been taken through the mill with several devastating Chinese Co.s destruction's. They are reall ugly and empty. I really do not believe I can survive another one. So much posting everyday to this message board by a just handful who seem to really have much at stake. So aside from ZHedge who outrightly calls this a scam, has anyone ever met Mr. Solomon or been to these operational sites in person? I have a hard time believing SIAF Chief Scientific Officer, Dr. Tony Ostrowski would be in on a scam... he just doesn't seem to be that type... or is he?
Both perceived value and appraised value can often remain Unrealized Value FOREVER. For YaSheng and many other Chinese companies (with the truly destructive and debilitating SCAMS built into, through and around them), stand as testaments to this thesis. This is my take based on both what I've seen, and unfortunately have experienced.
Nef,
My heart goes out to you. I have suffered much similar pains over the many years and it has just about wiped out... killed my energy, my joys, my passions, my relationships... virtually everything. I've read your story. I also told you some of mine. My father had worked 50 years, from when he was pulled out of school at 11 years old being the oldest boy, and made to work in a dirty, filthy factory... he worked his ass off day and night to help his family and he married my mom when he was 28. He thought the army was like a vacation to him and he enjoyed the travel and camaraderie. After the war he went on busting his butt working and finally started his own business with a partner... that small mfg. business did $6 million in 1965, later it grew to $40M and it had well over 100 employees for over 20 years... and guess what? His business suffered a major insurance loss and he then signed loans 'personally guaranteed' to save his business and his POS partner who was so crooked... a liar, compulsive gambler, and a thief, did my dad in. My dad went Bankrupt when he was in his mid 50's... he lost everything, and I mean everything... he had to rely on my mMom and myself for his credit until he passed away. His business was situated ind 50,000 SqFt of office and manufacturing space at the foot of the Brooklyn Bridge in NYC. He could've bought the entire eight story building (approx. 200K sqft) for about $1M back in 1981, but by then the writing was already on the wall (his lease at the time was at $1/sq ft.annually) Now that space is worth at least $1,000/sq ft., or $200 million. Maybe it runs in the family, although my dad's siblings all did extremely well as have mine. I seem to be the forever struggling one. I do know that the BK was a very big relief to my Dad. That heavy weight was finally lifted and at least he was floating. Best of luck to you in your future endeavors and if you ever would like to talk write me at steverosse1--gmail.
Yes of course... my bad. Dutch, have you ever been the facilities to or know someone who has personally been to the properties? Due to such abuse I now always have great doubt as to the veracity of information because so many small Chinese companies are just illusions/scams.
I believe that's $100 Million, Not $1.0 Billion, BIG DIFFERENCE.
Hi John,
I too would like to understand more about what to do about the results of the revocation of this stock. I've been stuck with only a small amount of shares since. Could I write to your email, or if you would rather post some of what you know about this here? Thanks, Steven
Nef,
I read your posts and can personally relate to your situation. I'm in 50's (probably much older than you). I owned and operated a successful small industial business about 18 years, worked my ass off 6-7 days/wk., 12-15 hrs./day. All because I wasn't married at the time, was in good health, and was very ambitious, I had little to no free time to spend any of the money I was making (other than three vacations and a house in those 18 yrs.), I also accumulated about $900,000. still owned that business which had a appraised market value of over $7.8 MM and my 50% share was worth approx. $3.25M when I sold out. at my late fathers insistence turned that money over to my sisters sister-in-law husband who worked for a big brokerage company and talked a good game, he played the part of I'm doing you a bug favor, and he was trusted by virtually everyone... well that Professional POS lost me 90% of that money within 2.5 years (he had total discretion and knew that I wanted some safety). I should've read all the small printed documents he threw at me. However I've always lived modestly, never asked for much. I eventually settled for a measly $326K. After all this was said and done by 2003. This left me with a terrible terrible taste and distrust for others. I waited for nearly 15 years and in mid-late 2008 began investing again after I met someone at a loca Panera Bread coffee shop in my neighborhood. He took the time to simply explain things to me using his compuer (although he was a Quant, he had retired as a Real Estate Developer in his 40's) and although he was also a nerd. he was very accomplished, well spoken, horribly dressed, and wealthy. He proceeded to give me a list of 20 stocks he said that he himself had invested in. They were mostly cumulative preferreds (many real estate related, such as Office and Industial properties, hotels, etc,) just as the financial crisis was in full bloom at the close of 2008, these mostly $25 face value cumulative convertible preferred stocks were All still paying their dividends with the exception of maybe one or two, All had interest coupon rates of 7%, 8%, 9%, and were selling at about $2.00 to $3.00 a piece. He thought maybe a couple of them could go Bankrupt, but even so, it was an incredible opportunity, according to him. The annual interest rate these were paying were generally equal to the share prices themselves at that time. He suggested to buy all 20 of them, allocating $5,000 to each, for a total of $100K. I had the money readily available at the time. However I only knew him about two weeks, so I bought only 4 of them for about $20K, and they did not go up in price if at all within 2 to 3 months I owned them... although I did get a few of those quarterly dividends. I then thought that maybe he's wrong and they all might go out of business, so I sold all four of them. However I kept that list on my computer and would occasionally look. During that period I was not going into that coffee shop... I would estimate probably about four months later many of these he had given me had taken off,d doubling in price or more... I then kicked myself for selling the 4 I had bought. Then I thought heck they may go back down again and I'll buy, and some did drop just a wee bit.... However they really took off to the races and never looked back... Three years later most were over $20./share, some even reached the $25, by five years all were up to the original $25/shr. issue price an the ALL of them Survived. These had all gone up 10X to 12X. Some even went beyond this $25, due to the coupon, some way beyond. They all were paying the $2.00 to $3.00 per share dividend that could've been reinvested over and over again. This went on for about 5 maybe 6 years all together and all were redeemed in full by their issuers for the full face value plus interest (interest rates were low so they called for redemption asap) I would have made more $5 million if I had put in that $100K. All I had to do was invest, reinvest the dividend and hold on. That lost opportunity made me sick once again.... Worse yet during this time I invested into about 25 Chinese companies (mostly all of them small) which were all selling for peanuts on the dollar. Some were IPO's some Reverse Mergers, etc... Most of these Companies turned out to be outright frauds. I got burnt over and over again with the exception of just a handful. I recently just sent that list of frauds to an attorney in NYC to see which of them he might have legal proceedings or know something that could help. I lost much more than that $100K in the Chinese Scams Co's. Thank G-d my kids are on their own and i don't have a family to support. My wife left due to younger better opportunities elsewhere. All this crap has weighed on my life like a ton of shit... I still suffer sleep dysfunction, my head and nerves are often roiling. and my stomach turns. This is just some of the major shit, that has happened to me... I was robbed at gunpoint, had to come up with $140K for medical bills, and just lost my my small business which I had started from one room to one of my sales agents who turned into my competitor by sabotaging house accounts finding a way to breach into the protected system. I could go on and on, but i will spare you the expense. Hope that my story gives lets you know that you are not alone. Wishing you the best of luck, I only have 4000 shares but Let's ;pray that SIAF is not another in the long line of Chinese frauds as ZeroHedge seems to fervently believe. Goodnite and G-d Bless.
Sounds about right, you must know his personality well. I can only let the results of a BIG 0 speak for itself. Fortunately I sold out 98% of the POS like two years ago, today hold just a few. Hope u don't have too much invested into this nightmare.
"During the fourth quarter, 2011, 200,000 shares of the Series B Preferred Stock were issued to a related party for reimbursement of $7,500 of legal and accounting fees paid on behalf of the Company" That is the equivalent of two Billion Votes (2,000,000,000.) votes for just $7,500!!! So one would probably need 100's of Billions of common shares to even make a dent in the voting process. Chris Giordano Never fails to Over Promise with story after story and NEVER has he Delivered one iota of sustainable value to the common shareholder. Common shareholders are totally worthless other than providing Chris another meal ticket, house, car, and vacation. He's an outright liar and a thief.
WTF is going on? Seems this Old Pathetic Dog is on it's last breathe. What a mistake it was buying into this hyped up disaster in the first place. Now I can only hold on and pray, or else take a 50%+ loss. Are you guys still bullish or are u throwing in the towel, and why?
No, I haven't spoken with my broker. Have you tried contacting the company itself?
Are SIAF assets and operations real? How legit, or cooked are their books?
It's totally disrespectful and wrong to disregard the remaining MOL shareholders (some of us whom put our sweat & blood money investing in MOL Global shares [MOLG/Y]. I can now only hope that MOL management and the others who read this message realize that remaining shareholders shouldn't be violated by use of such shenanigans (ending up with a total loss/nothing). MOL Global, I speak for such shareholders who have been outcasted by these events and humbly ask that you Do Right and Play Fair. Pay us shareholders who had not heard about this MOL Private Co.)... We are still here awaiting a proportionate share, either cash, or new stock, or some of both.
Thanks for listening, and Management please do right for ALL shareholders by allocating and distributing our slice of the MOL Global pie.
Are you still doubtful of our 'King' Solomon... his true intentions, integrity, and his abilities to deliver us from the depths of this destruction?
Since he made himself 'A-share King', what do we Peasants really mean to him? I was going to ask the call the BeeGees but then realized they wouldn't tell me...How do you mend a 'broken pocket book', how can a loser holding this forever promising stock ever win?
News of Investment in MOL Global by Razer....
Singaporean-founded and San Franciso-based gaming hardware company Razer has acquired a minority stake in Malaysia’s e-payments platform MOL Global and appointed the latter as a master distributor of its virtual currency, zGold, in the Asia-Pacific. As part of this strategic tie-up, Razer has, through its wholly-owned subsidiary, ZV-Midas Pte. Ltd., purchased a minority 19.9 per cent interest in MOL Global, Inc. (MOLG) from its shareholders, Hotel Resort Enterprise Sdn Bhd (HRSB) and MOL Investment Pte. Ltd. (MOLI). Under the terms of the purchase, HRSB disposed of 10,565,865 shares representing 15.65 per cent equity interest in the issued and paid-up share capital of MOLG and MOLI disposed of 2,867,517 shares representing 4.25 per cent equity interest in the issued and paid-up share capital of MOL at an implied valuation of $100 million for MOLG. This strategic investment is expected to help propel the partnership to greater heights by enabling both parties to work towards the goal of establishing zGold globally as the de facto virtual currency for
Read more at: https://www.dealstreetasia.com/stories/singapore-razer-acquires-minority-stake-mol-global-75567/
The Current Updated Valuation of company is now @ $100,000,000 USD which divided by the 67,000,000 shares outstanding is about $1.49 per share.
So what has happened to the semi-annual reporting by company of it's accomplishments and financial results?
Does anyone here seeing this know any more? Please state what you factually know along with your thoughts and Comments.
I too would like to know what my investment (in MOL Global) is now worth. I have put in several thousand of dollars to work, and I thought it was going to be turn around into a big success story.. instead it acted like a dud, and turned into a disaster. However I knew that even then if were to survive it would at least be worth what I had paid which averaged approx. $2.75/share. I sure would like to see that money back and not at a loss. This company seems to be on the right track from the limited information I've attained. If someone here knows current info. about the company itself and the once tradable shares that have been delisted from the IPO, Kindly advise.
This is/was a SCAM COMPANY from Years Ago (see post below) ...Yes, I bought into it years ago: Invested $1,200.00 which today is now worth all of $0.0125 (1.25 pennies)
ROCKHard
Monday, 08/03/15 11:09:40 PM
Re: ROCKHard post# 1559
Post # of 1569
Here's what's become of the former TKDN ( of which I had believed was legitimate, but it was actually a FRAUD), it's now masquerading under the symbol:GRYN
Pre reverse split(s) 1:2000 & 1:200 I mistakenly 'Invested' $1200 in 175,000 shares. I Never sold any shares... and today that 'investment' is all of one (1) share @ $0.98.
These fraudlent P.O.S. Scu.mbags will likely ROT in H.E.L.L. for eternity.
These Criminal Manipulating Thieves (one in the same) do not care one iota about the OTC share price decimation, nor overseas shareholders... just look at the share price destruction, it's just pathetic as it's been cut in half over and over and over, again and again. Obviously this Management of the company just doesn't give a Frigging Shitt. I now only wish I could hunt down these lowly pieces of shitt to beat their yellow asses to a pulp. Fuk these low lying scamming pieces scum. Hope they get back exactly what they've done to hurt others. They may have the stolen money but that won't keep them from rotting in hell. Heck, just airing out some steam as I've held onto a small position in this Chinese laundry 'Security' for 6 yrs.
Dutch, Ever since you've turned so negative after being very positive. I'd like to know if you're still holding long, and if so, have you trimmed? I hold a small position but getting seriously concerned if it's another Chinese death-trap scam?
Chris Giordano should be ashamed of himself.
Some quick excerpts from the latest SEC filing August 18, 2017:
The holders of shares of Class B Preferred shall be entitled to 10,000 votes per share. The Class B Preferred Stock will have the rights to liquidation as all classes of the Common Stock of the Company. The Class B Preferred stockholders are entitled to receive non-cumulative dividends at the rate of 8% per annum, and are accrued daily. The Class B Preferred Stock shall be redeemed by the Corporation for 100% of the original purchase price plus the amount of cash dividends accrued on the earlier of 6 months from the date of issuance, or the date that the Corporation received its funding from any outside source in conjunction with a merger, reverse merger or any change of control. In the event of any liquidation, dissolution or winding up of the Corporation, either voluntary or involuntary, the holders of the Class B Preferred Stock shall be entitled to receive, prior and in preference to any distribution of any assets of the Corporation to the holders of the Common Stock, the amount of $.035 per share plus any and all accrued but unpaid dividends.
During the fourth quarter, 2011, 200,000 shares of the Series B Preferred Stock were issued to a related party for reimbursement of $7,500 of legal and accounting fees paid on behalf of the Company.
In August 2015, The Company issued an unsecured promissory note to an investor in the amount of $50,000, convertible to common stock at $1.00 per share. The note bears an interest rate of 8% per annum and matured on August 8, 2016. The note is currently unpaid and in default.
We are a development stage rejuvenation technology company which will be offering branded fabrics, apparel and uniforms to the corporate, hotel, hospital and military markets.
As at June 30, 2017, our company had total liabilities of $1,500,700, compared with total liabilities of $1,369,879 as at December 31, 2016.
As at June 30, 2017, our company had working capital deficiency of $1,459,171 compared with working capital deficiency of $1,312,049 as at December 31, 2016. The decrease in working capital deficiency was primarily attributed primarily to an increase in accounts payable and accrued liabilities of $141,048.
When is the next quarter report date? Seems The Common Shareholder is dirt here as the Preferred 100 shares controls 80% of ALL Voting Rights no matter what, why is that? And to add insult to injury, they've now filed to increase the common shares from 27 MM to 50 MM, that's a 50% dilution when shares are now down ~80%. Wow, they have really suckered us into this death trap here. It feels like the Chinese Scammers are at it once again, Pure Unadulterated Thievery (I sincerely hope not). Please No B.S. please but Comments with Genuine Insight and True Facts are appreciated.
G.E. should be jailed for life and forced to cough up his ill gotten gains. Otherwise, it only takes one individual who has been burnt badly to decide to take matters into their own hands. So I wouldn't be at all shocked if one day soon he's pronounced DOA.
RD, Very good of you to repost.
Sick of all the illegal, manipulative actions.
Someone, somewhere will one day hunt down these perpetrators and do some real ass damage.
Is the company alive on life support, or dead? From what I can tell nothing found in filings, zombie website, nor calling them. Anyone here know of any new developments?
How could this in 1/2 day volume is 40 Million Shares? The latest 10-Q showed just over 8 Million Outstanding Shares. They issued some recently and reserved some for Employees, Directors and New Hires. Thinking this is naked shorting, otherwise who would turn over that volume in so little time? I have been in since SSH and have a sizable loss on about 3000 shares. So what do you guys really think about the company and the share action?
RD,
Any idea When that carve-out dividend will be declared? Also What share price do you think the market will give this when all that happens, and looking out a year or two from then, what do you think will become of the company and share prices?
Anyone know the fully diluted shares outstanding? Also is there any toxic financings involving this business? -Appreciate honest response, Thanks
That's news to me, could you detail what they said, or else copy and paste it up in this thread, Thanks
Yes, they did file... that's a good sign, very good. They kept their word as they said they would with the filing. My hope is that they're working this business, building it up, so that one day soon it becomes profitable. Then something good will finally come of my investment. Maybe one day it could actually be worth something. My cost is $2.80 avg. Looking forward to hearing some more good things about this company.
true what you say, however many of those I held onto simply went to nothing, or next to nothing, practically overnight. Was there any writing on the wall? Actually in few there was but in several nothing at all. I still have some GRO which currently is under suspension and probably will never traded again until relisted somewhere else, if ever. LTF, SIHI, WKBT, AMCF, TBET basically went Poof Overnight. Nothing's safe with any of the Chinese stocks whatsoever.... everyone's a sitting duck, if not an outright fraud. I thankfully sold most of my CCCL a few years ago and probably booked an overall gain... but those times are long, long gone, and all these Chinese stocks as you know are basically looked at, and treated as, outright garbage. I even have a few shares of GURE in my acct., which has a really good strong market for their products but the shares have continued to be manipulated, shorted for years and still suffering. If these shares are truly desirable and worth something to the companies themselves they wouldn't let them be decimated for so long, or be delisted. Probable truth is they are being manipulated down as these guys are cashing out. They go dark, get delisted, and/or revoked. All the IPO, PP's, and/or secondary money raised is in the company's to keep. The insiders have stuffed their pockets and they do not care whatsoever going forward. They've made money kept all the proceeds raised. Just by touching these things ones lucky not get wiped... that's why I really need to tread very carefully. Wow that's just blowing off some steam, sorry for being so long winded. Best of luck to you Dutch.
Yes, I understand how you feel. I'm thinking of selling the few that still do trade and putting it into one or maybe two. Not sure about actually doing that, but it's food for thought considering all have been and still are awful. Maybe by putting it all into the best one (that's IF there's actually is one), it would be either a new beginning or the final curtain. BTW, just wanted you to know that I have appreciated your comments and insight. Good Luck Dutch.
I understand about profitable, however with Chinese stocks traded here it really doesn't even matter. I have held CCCL and CNTF for years and have huge losses. I have also been invested in many Chinese Stocks over the past 7-8 years... almost all, but a select few were totally destroyed. I've lost my shirt in LFT, XING/QXM, LAS, TBET, SIHI, AMCF, CBPI, NEWN, ALN, ONP CHCC just to name few... all were VERY profitable, most also claimed much cash in the bank... we all know how that turned out. Well through all these Chinese securities (pun intended) I've lost well into six figures. At one time approx. 75% of my funds were tied up in Chinese stocks. Man, I'm lucky just to be alive. Currently just a few trade today. So in theory I'm long over due for something good to finally happen. Maybe I need to sell all of the few that still trade and put it all on the line?
Dutch, What's your current opinion of the following Chinese stocks: CCCL, CNTF, SIAF, and KGJI? ~Thanks
So many of these Chinese companies are scams it's practically unbelievable. I have a list of Chinese companies both on the major exchanges and otc, and almost every one of these companies (other than a handful) are now penny stocks. Most all have lost 50%+ with the vast majority having lost -95% or more. Many have gone dark and many have been revoked. A few of these Chinese scams collectively have nearly wiped me out. I do believe in Karma, and those who have done others wrong here will eventually pay the price. If I could I would hunt these vermin down (both Chinese and the others who've contributed to these massacres), torture them merciless, then waste them as they've effectively wasted others. When for heaven sake will justice ever be truly served on these vermin?
Just How MANY REVERSE SPLITS at Huge 1:200 Ratios have they done?
Anyone here truly know the Current CDII Diluted Outstanding? Float? Short Interest?
just one last thing,
your post showed the companies who hold the interest, but who's the PERSON who's the appointed representative of the VIE?
Very interesting, thanks.
Thanks for the info. It's scary to think that one can do so much damage and also get away with it. BTW, how did you find out about the ONP VIE? Is there a listing somewhere of other companies who this, or do I need to read the annual filing or prospectus?
Why R.I.P. for being a VIE?