I'm not sure that Toups can play the "I've been had card." He claims to have been in China for 6 months, and as Geo pointed out, all he had to do was look out the window to see if trucks were coming. If all is as Geo says, it does look better if he hangs around until the end as if he didn't know there was a scam.

Is it opening? I'm seeing a pre-market quote of 0.44.

It's probably best to keep the halt going. Give time for doubt to build regarding Geo and warm up to a very speculative risk.

Both played for me. This may be an interesting fight. How far does LPH have to go to fend of the authorities from pursuing allegations on a blog? If it becomes a pricey legal battle, is it better for Geo to just back down, even if it is a fraud?

LPH fights back. http://finance.yahoo.com/news/longwei-petroleum-releases-security-videos-173700027.html

I would assume you lost your investment but stay on guard incase it does end up trading so that you get out in time (just my oppinion, I have no idea if this can bounce). There are much less risky stocks. When Kinder Morgan goes below 80 you get a 6% dividend, and it's not unusual for them to increase the dividend more than once per year. You won't get a quick 100% gain overnight but it's better than nothing. Of course, no stock is risk free. Review the tax rules if you do go with an MLP.

I think people are starting to doubt Geo as more questions are raised. This waiting game might be starting to help LPH, but of course hope won't last forever. If you can have a misleading "business", then you can do the same with a blog article. As you mentioned previously, they will need to show the money if they are legit. Imagine that they just give a strong response stating the allegations are totally off the mark and then resume trading with a lot of volatitily. Will the SEC investigate? If the SEC does investigate, can they fool them?

It's interesting that throughout 2011 people were not afraid to support the stock and argue with the critics. Now, a hit piece that's technically classified as a blog immediately destroyed the party. Even LPHreal went dark, although I did see that he was still trying to board up the broken house as the zombies came in. Everyone else went for the basement.

I think it was Burp who came on here and posted a "summary" of that conference call which consisted of a youtube link to a video of a donkey approaching a camera and making obnoxious sounds.

During one of the conference calls some goof called in and started making donkey sounds. I think it was towards the end of 2011 when the stock was around 1.00.

One thing I've always wondered, who was responsible for the donkey several conference calls ago? That donkey annoyed many, but if we would have heeded it's call we may have realized how absurd it was to keep money in this investment.

According to regular YMB poster Bonalcharles auditors left yesterday for China.

Timeliness never was their strong suit. I would probably give them the week to figure out what to do. They claim they have legal counsel in both China and the US working on this.

Everything? Avoid choice c). If you can't laugh, it's best to just listen to Beethoven. For this kind of situation symphonies 5 and 7, and piano sonata's 23 and 8. But don't mope around. It could always be worse. If you really have everything invested in this I would probably get out if it starts trading again.

Toups has never responded to any email I have ever sent him.

Memo to LPH: We know you read the boards. Whatever you do, don't incorporate Gomer Pyle into your PR.

I really don't know Swede. This is the most intriguing part of the story for me. What was going on at the microscopic level that made all this worth the trouble. Why not just take all the initial funds raised and then just fade out?

The IPO. Other than that, I don't quite get the reason for continuing the whole thing and doing acquisitions, but it's been suggested that they might be a node in a larger network of thugs. Cover-up for illegal activities? A bigger plot was on the way?

That's him alright. Lists him as a fan of RedChip.

But wasn't Dora Dong a part of both Red Chip and LPH?

Toups defriended Joe Natural 1 month before this happened. Ciao Faxed.

There are many articles on Chinese scams. See for example: http://seekingalpha.com/instablog/752908-chris-wu/109323-why-is-there-so-much-fraud-among-rto-chinese-stocks

This doesn't explain everything, but it's a starting point. Probably involves a network of players, not just LPH.

They once even threatened legal action against bashers.

I know longer have a position, but I hope those still holding get a bounce and that lph can refute the report. Regardless, I won't be back.

I'm not defending red chip. I'm saying that they may have been coaching lph to look legit, assuming geo is right. We will see what happens. I'm not saying there's no hope, just very little.

To make it look real. Possibly suggested by Toups or Redchip, both of whom have experience representing fraud. Notice Redchip abandoned ship without hesitation.

If anyone is invested in China Bilingual I would get out asap.

Dirty money washed with a fake business? When the Sicilian mafia have fake businesses they hire people just to be there. LPH say they acquired Huajie with cash. In Sicily, the Chinese are buying buildings with cash. My wife is Sicilian and said that it's generally assumed that these are the Chinese Mafia.

I just remember one of the investors asked about it on a conference call and said they'd like to see Cai rewarded for his hard work. It was then discussed somewhat on the boards. GEO's claims of virtually no sales reminded of this discussion since it was assumed to be altruistic.

Also, why Cai doesn't get a salary.

They were definitely aware of the tank size discussion. I talked to them on the phone on the 31st. They said they had already received emails regarding the issue over the weekend. They even called me on the 2nd to alert me about the PR. They have at least some familiarity with the message boards given that they were familiar with your handle, unless you use rru2s in public/emails.

Redchip officially exits China space. Quote from Gentry: "We made a decision to close our Beijing office months ago and wind down our China operations."

Redchip Exits China Small-cap sector. Quote from Gentry: "We made a decision to close our Beijing office months ago and wind down our China operations," stated Dave Gentry, President and CEO of RedChip."

And a nice dividend. I don't think any of this will happen.

Would probably take a new generation of investors who are new to the china scene.

It seems there are too many allegations to pull off option 1 in an effective manner (also given the different time zones). Of course if they could have done it effectively with legal counsel that would have been great. Toups hasn't resigned. He either believes the company is not at fault or believes his chances at staying out of jail are much better if he fights. Could also be buying time so he can book a one way flight to another continent.

Friday's cliff-hanger.

I guess we won't be seeing anymore photos from LPH company beach holidays.

Down 0.32 in pre-market.

Agree. I don't think many people read the report in detail before deciding whether to sell or hold.