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Only shareholders of record, with judicial approval, could even hope of reactivating this shell. David Lazar, as well as others of his ilk, can't touch this.
Unfortunately, this is a Delaware shell. It likely won't "come alive out of nowhere" like Nevadan ones so often do. Which is a shame since it appears to have significant assets still attached to it.
Yes, but this shell; HGYN/CERPQ, has no publicly known association with "Hongyuan Holdings Group Co. Ltd.", "Beijing Airport Hoya Logistics Co. Ltd.", or any other entity.
Until the SEC and the public are made aware of any such connection, it's irresponsible and reprehensible for B.I. et al to report there being one.
Your guess is as good as mine. Seems claims are still being disbursed.
I didn't catch what Kent said, unfortunately.
Even if this is a vehicle of some Chinese logistics company, and not just a scam to sell shares; US antagonism towards China will likely cause the merger company, or would-be one, to reconsider its decision to list here.
I think shareholders of record could bring this company back if they really wanted to, only time will tell.
Business "Insider" says, "Hongyuan Holdings Group Co. Ltd. designs and manufactures proprietary starch-based, and algae-based bio-plastic resins."
Back on this planet, due diligence says, "No BI, it does not."
Hongyuan Holdings Group Co. Ltd. is a rapidly expanding logistics company, with significant holdings in Air Belgium, et al. It has nothing to do with the design and manufacture of bio-plastics, and as far as the SEC and the public are concerned, has nothing to do with this shell.
Shame on BI for posting such nonsense.
I think only shareholders with clout(and lawyers), could manage to wrestle this from the Delaware court system, ie Von Allmen et al..
If this really is a shell with assets, it's not the only one being sat upon by the state of Delaware.
Why do you suppose they chose Hong Yuan Holding Group as the name of their shell/blank check company?
Do you think they went to the trouble of obtaining this shell, filing sec reports, changing its ticker symbol, and uplisting to the OTCMKTS so they can fool investors into believing they're a target of the medium sized logistics company, Hongyuan Holdings Group Co. LTD.?
No reverse merger has been announced here, so naturally there'd be no established link between this shell and its Chinese headquarters, and Hong Yuan Holdings Group Co. ltd., the multimillion dollar logistics company.
Methinks they fired all their sloppy editors and writers and replaced them with equally sloppy AI algorithms.
Is a "culture development" company China's version of a blank check company? Because that's what Hong Yuan Holding Group is at this point, a shell that sells nothing but shares.
Hongyuan Holdings Group Co. Ltd. is the airline/logistics company.
Proof can be found in articles such as this https://press.jal.co.jp/en/release/201905/005166.html , this https://travelprnews.com/japan-airlines-and-hongyuan-holdings-group-create-joint-venture-699955/travel-press-release/2019/05/09/ and this https://www.planespotters.net/airline/Hongyuan-Group .
Until the sec and the public are told otherwise, Hong Yuan Holding Group is a distinct entity from Hongyuan Holdings Group Co. Ltd. and sloppy, AI generated, content won't change that.
Why are sites like Bloomberg and Business insider referring to HGYN as Hongyuan Holdings Group Co. Ltd.?
This shell/b.c.c. is called Hong Yuan Holding Group, and for the time being at least, has no publically recognized relationship to Hongyuan Holdings Group Co. Ltd.
Sloppy coverage by the likes of Bb and Bi.
According to the docket, some type of sale did take place in 2016. I'm guessing real estate, but since it doesn't specify, I could be wrong.
Perhaps the money used to pay creditors came from that.
The final report shows receipt of 4,756,437.20. That's a far cry from 28 million in pre petition assets.
Perhaps it's too soon to write this off completely, there may be a small glimmer of hope here.
The problem is, profit taking penny poppers won't allow these to stay in dollar land long enough to uplist without a R/S.
Insiders do r/s their own positions at times. It's their way of "taking one for the team" for the greater good of the company, as well as a means to shake out, what they perceive as, low quality shareholders.
I'm not saying that will happen here, but given the Nasdaq ambitions of this company, they'll likely want to take it to dollar land and keep it there for a while, and to do that could require concessions from management and shareholders alike.
This was considered a mega bankrupcy that had 28 million in pre-petition assets, but only 2,545,541.78 was distributed to creditors.
Who knows, maybe this shell will still have some assets, post bankrupcy, and can be reactivated in some capacity.
But like I said, the courts in Delaware aren't keen on granting custodianships.
Different states have different laws and legal precedents. States like Nevada are relatively friendly to custodians buying in and reinvigorating distressed companies, states like Delaware are not.
You seem so sure about this and you use definitive language like an insider, a pumper, or both.
Nevada r/ms have a poor track record, and shadier entities are more likely to engage in them than less shady ones.
What makes you so positive this will buck the trend and become a multi dollar Nasdaq stock?
Do you know something we don't?
Nevermind, this is a Delaware company. Delaware isn't friendly to the likes of Lazar, Synergy, etc. who seek to aid distressed companies and give hope to their distressed shareholders.
RIP LIQD.
Have any of Lazar's former shells ever uplisted to Nasdaq/NYSE? I'm looking, but have yet to find one. Seems our expectations here are without much precedent.
This is assuming there even is a company coming in, which I'm beginning to doubt.
True, they cancelled that particular r/s, which was likely announced as a tree shaking ploy anyhow. A means to instigate a sell off so they could secure cheaper shares for their friends and associates.
That doesn't mean there won't be one in the future. With no institutional support, and only penny flippers holding and folding their shares, it's entirely possible they'll feel it neccesary to bring the price up to Nasdaq levels through whatever means necessary.
Wang's other r/m, AIXIN, less than 2m float and still a r/s.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=159152167
With 74 billion outstanding snares, and a reverse split likely on the way, I hope this doesn't become like GGII/Hempacco.
Early next year could mean first half of next year, indicating a late June deadline; according to Wang.
The name of this shell is hong yuan holding group.
Why would they use the name of a medium sized(not huge) logistics company, Hongyuan Holding(s) Group, with trademark filings in the US; unless their intent was to either defraud investors, or reverse merge with the stated company?
If their goal was to acquire companies and become a holdings company in their own right, sans a r/m with Hongyuan HG, why would they choose Hong Yuan Holding Group as their name?
Well, Hongyuan HG certainly is a holdings company. They even have Air Belgium airlines counted amoung their affiliates and subsidiaries.
The status of this blank check company is yet to be determined, but a reverse merger with HYHG or any other company hasn't been announced yet, if ever.
It's never safe to swim in these OTC waters, sharks and rip(off) currents are everywhere and danger is just something you learn to accept.
Nasdaq requires independent directors, so that may explain the lack of connection to the medium sized logistics company, Hongyuan Holding(s) Group.
Apparently, the reverse merge hasn't happened yet, hence the lack of a super 8/k.
A controlling block was issued and the shell simply changed hands and given a new name
Neither Hongyuan Holding(s) nor any other entity has merged into this shell, though it may be used as a vehicle(similar to a spac) to facilitate a reverse merger.
Do you believe the medium sized logistics company, Hongyuan Group, will merge into this vehicle; or do you believe, as AgInAustin stated, that it will likely be another company?
The expert market allows pro investors to nab shells at rock bottom prices, before unwashed masses of retailers do.
It's like an exclusive beach that only admits professional shell collectors. Rather than a liability for our shell, we should view it as an asset.
If Hongyuan Group does intend to reverse merge into this vehicle, they'll possibly do it with their US subsidiary Hongyuan Express. http://www.hyeship.com/
Maybe it was David Lazar's firm doing the buying. To be granted custodianship, he must first own shares.
Defense World doesn't seem like the usual pump n' dump newsletter.
Could they know know something we don't?
https://www.defenseworld.net/2022/04/19/hong-yuan-holding-group-otcmktshgyn-short-interest-update.html
Super 8/k could be imminent.
But not bloody likely.
It's true, these reverse mergers seem to rarely amount to much, and shadier entities appear more apt to ipo this way than legitimate or less shady ones.
Since we have no way of knowing whether this is legit or not, and since the company has been mum for months in relation to shareholders, we really are taking an outsized risk going long here.
It's over, shareholders appear to get nothing but closure and an empty shell.
Now, all we can do is wait for a possible reverse merger.