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They approve it, post it, and it usually goes into effect the very best business day. Typically takes ~10 days for approval. Expect it next week, IMO.
David has already submitted for the R/S with the SEC. It will occur as soon as the SEC green light comes back.
When I spoke to David he acknowledged the screwy audit dates. I'll be speaking to him this week -- possibly tomorrow -- to clarify if we'll have an audit date PR'd to us. If so, the anticipation (especially since no R/S will be looking overhead anymore) should recover lost funds back for us.
I feel you man. I guess all we can hope for is that Lee knows what he's doing. He's the majority shareholder so surely he's trying to cook up a good PPS when it announces.
I understand man. I don't personally feel strung along because he'd been up front in the past that Lee has kept things slow and on occasion delayed.
Talk to Frack and you'll see how aggravated he is they're late. The man cares about his reputation. More importantly you'll also see how sealed his lips are. There'd be no reason for that unless there was money at stake.
Frack told me he could count the amount of individual shareholders that have called him on one hand. How can the price be reflective when no one is asking questions and verifying with him?
We found out about the merger back in February, and I wager anyone who knew about the deal and wanted shares accrued them early on in the sub-pennies. IMO.
Have you spoken to David recently? I know he had a day dedicated to shareholder calls last week.
Frack has one of the quarterlies. He VERY recently just acquired it. He has to doctor it up for the US regulations and then he said he'd have it to us.
Do not forget how hollowed the ground is for these two folks in the merger industry. Frack and Lee are heavy hitters, and they just so happen to be packing deep pockets of shares.
I sent Mr. Lee an email seeing if I could contact him for a few questions. Hopefully he'll get back with me later this week. Automatic reply said he would have limited access to his email through October 26th.
Apparently Lee has been busting his balls over any information he gives us. I guess where Lee is a majority shareholder he doesn't want anything leaked until the time is right.
I asked if there was any chance of the deal falling through and he told me "I mean TECHNICALLY all deals have that chance in any phase, but this is a contract three years in the making with hundreds of thousands of dollars already poured into it. I highly doubt anyone involved would pull out now."
They have one lined up and are being quoted from it. It's GBH was what I was told.
He isn't seeking permission to operate publicly below 600. He is trying to better familiarize himself with other guidelines from what I understood from the conversation.
David is very aware shareholders are disappointed via texts, voicemails, and such. To be honest during my last phone call with David he was honest about everything upcoming that they are working on.
Both him and Hank are looking into about five acquisitions daily, and David has spoken to the auditors and received a quote.
Most off-schedule audit dates were from the auditors themselves, and David was frustrated with himself that he gave them out to shareholders without verification.
He's working with the SEC with regards to any R/S potential down the road, because they pretty much told him that if he R/S'd right now he'd be a private company because number of shareholders would drop below 600. We currently sit at a few thousand. Since he wants to stay public, he's talking to the SEC to better understand said regulations. He has a pretty solid communication tie with the SEC overall, and we discussed it several times.
I tried calling David earlier today and left a voicemail/email. I had a four hour drive, conference, and two other CEO calls today so I wasn't able to call guns blazing.
Couldn't get any specific dates or timeframes out of him. He simply told me the wait was the third quarterly.
Most of which was contracting from what I understand. It would be more accurate to say the contract has been in the world for three years.
Hey guys, I just spoke to Frack and here's what I learned:
-Alexander Lee is a majority shareholder
-This deal has been in the works for three years
-The merging company IS NOT at the addresses given. What Frack had originally said was "Look at the area those addresses are at. Look at the type of companies there. Several large brokerages and equity firms."
-They are waiting on the third quarter like we speculated, but Frack has one quarter on hand. He has to generalize the company description and then he said he expects to have it out to us within a week or so.
Not sure when it was changed. The old address was from a third party website. Could be simply outdated.
I maintain I still feel it's adding up that our company will be coming from Mr. Huang's address. That said, I haven't found any companies large enough to facilitate this big name staff.
No one has lied for David. I and many others have told you only what he told us. Don't kill the messenger.
Their website shows a different address:
30/F, Lee Garden Two
28 Yun Ping Road
Causeway Bay
Hong Kong
I've personally written off Mr. Lee's unless Frack gives me reason to suggest otherwise.
It's an accounting man in an accounting firm working on accounting documents. Seems to convenient, rather than to assume Jebsen & Co. Transportation.
And seeing as Mr. Huang is working for a company that facilitates acquisition deals and the such, it makes sense he would be in the hotspot.
I'll continue nosing around.
Found two so far with exact address matches:
Pegasus (H.K.) Ltd.
Kenneth Ip & Co.
Wait. Then it has to be his address then, right? If he's the one in charge of the company helping LBRG front their deal, then it would naturally be his address.
I can't assume it's Mr. Lee's address based off the address being at RSM AND him specializing in taxes AND we're currently waiting on quarterlies from him.
I see. Well, that complicates my theory. I'll have to ask him tomorrow and see if I can cover any ground.
I suspect whichever company is merging in is on Mr. Huang's address.
If you look up Mr. Lee you'll notice he is a tax specialist for acquisitions. Incidentally his address is a match with RSM one of the world's largest accounting agencies. No doubt he's having the quarterlies dealt with there.
I've had zero luck finding any companies with Mr. Huang's address. Every one I find is slightly off by room number or floor. Maybe someone on here will have better luck than I did.
I should know more Monday bud. David told me to call him back then and he'd have more details from the auditor. I know the audits will be before the end of the year for certain.
I spoke to David over a month ago and was told we sit at ~$4m debt.
More recently I believe I recall we had almost completely wiped it all away.
They're getting some of those final lowbies before the roof tears off LBRG.
Well, we have a market valuation of around ~$4.5m at $0.02.
So, $300m/$4.5m = 66.66
66.66x$0.02 = $1.33
Large numbers, but fun to fantasize.
Well, just saw one for ~$80m.
Good numbers regardless. This leads me to believe Mr. Lee deals with significant companies.
http://www.paulhastings.com/professionals/details/alexanderlee
Apart from Mr. Lee's overview awards, click on "NEWS" at the bottom.
Smallest transaction I see Mr. Lee's organization oversaw was a $300m deal.
Could be a good sign if he's processing them for filing. We'll know soon enough. I have all week next week to ring him up.
We hit 3's and 4's on the same share structure off audit hype alone earlier this year.
I've heard the same, but I can't seem to find it in writing anywhere. That said, he hasn't implemented one yet for some reason.
It'll be worth it in the end, bud.
Depends. I've broken the price down several ways.
Essentially we'd be looking at around $0.0025ish on immediate audit release. Give or take $0.0005. This number is based off market value, P/E ratio, and current share structure. There's also the pre-14C overhead that would affect price structure.
If David were to implement the R/S anytime soon, the real question then would be whether it was before or after audits, I'm guessing. I do know none of the additional shares have been torn into, so that wouldn't be factored in. Assuming that stayed constant we would see stronger PPS response in the realm of $0.005 or so.
He intends to replace the former subs with three or so more is my understanding.
Let's bring it home. I'd love to see $0.50 up on the board!
Still looking at the $5m from Tampa.
I'll be calling him next week to make sure we're still on track.
Poor flippers not knowing what they do.