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Strange. No mention of Lentuo anywhere on a Toyota site, however it is 100% Lentuo Location. Either they sold it or trying to distance individual locations from the Lentuo brand.
Audi has new listings http://dealergroup.bitauto.com/142/cars/m/9/?order=3
Volkswagen has been back http://dealer.bitauto.com/100036971/news/201506/27344419.html
Looks like Mazda restarted sales and full promotions yesterday.
http://dealer.bitauto.com/4001002/
By reading job descriptions it looks like they purged most of finance and hr, also why hire several people with U.S. IR and reporting experience if you don't intend to relist. Last beijing journal article indicates, that they might resume new car sales at the end of June and it appears, that repair and maintenance never stoped, which was the only profitable aspect of the business. By the way, repair was bringing in over $5 million per quarter net profit while new car sales was a losing operation.
I wrote this one off, but strange things have happened.
I'm not sure about a link, but I did listen live.
Nothing really new about the wocket. Talked about the talent on the board and advisory committee, connections with defense dept and military, kind of pointed out, that 3dID is a subsidiary, that deals with sensitive military issues and sounded exited about, but don't expect to hear details about it for obvious reasons. Talked about some other smart phone applications and numerous valuable patents.
Overall feel good interview, but no breaking news.
At least the guy is willing to get up at 5 am on a Saturday to get some free advertising. What's your point?
It seems to me, that only two Mazda dealerships are operating. Web presence has vanished for everything else around February. All the noise about management stock purchase, chairman letter and electric vehicle BS and then nothing.
Looks like auditor resignation put this company into death spiral, no chance to get annual report done, probably lost floorplanning and other financial backing at the same time. Got stuck with unpaid inventory, etc.
I hope GUO still owns 46% of the company and trying to salvage some value, but I would no be surprised if sold off his shares into bogus January press releases.
What was your order number?
Thanks for the public service announcements. Tell us how much money was spent on raw materials in preparation for full launch on June first and tell us how much money was raised two weeks ago.
Its a very complicated, but ultimately in this case Chinese court would be the one, that matters most.
Creditors could actually apply to PRC court for involuntary bankruptcy, the fact that it did not occur makes me think,that they are working with Guo.
The only way shareholders get anything out of this if assets indeed are higher then debts and Guo still owns 46% of the shares and he is not a total crook.
Banks can't confiscate shares in the PRC, that were not pledged as a collateral and anything that has to do with our shares has to go through a bancruptcy court as adopted in 2007 law regarding chinese companies operated as a PRC
Company has not filed answer to the complaint, that was due April 7th.
Probably because they don't care, since Cayman Islands does not enforce or recognize US judgments.
Those jobs are for VW dealership they just opened at the end of 2014.
Class action has a bunch of new filings. Looks like blood sucking leaches cant find anyone, that lost more then 100K and now proposing a group of investors to be a lead plaintiff.
Good luck collecting, US judgments are not enforceable on PRC based in Cayman Islands, Lentuo does not even bother to respond to the complaint.
New promotion for Lentuo Mazda
http://dealer.bitauto.com/4001002/news/201505/26076892.html?leads_source=12312
I believe in fixed assets, I believe the company has value just looking at dealerships owned and how much Itochu paid for 40% of an Audi JV. What worries me is that in January Hetong Guo kept pumping away, i.e. chairman letter, stock buy back and other bs while director, ir firm and auditor were gone and nothing was reported to shareholders, SEC or NYSE. At this point it would not surprise me, that he sold his stake into the market while pumping buyback, took out a bunch of loans guaranteed by the company and sailed away.
Looks like Jeff Deboer has resigned as independent director and company forgot to notify its shareholders. It looks like other then a liquidation nothing is going to bring it back. Hetong Guo is a crook.
Lentuo is not counter suing anyone. They have not filed an answer to the original complaint, that was due on April 7th. Why are you making stuff up?
Las failed to file 20F NT form, that was due April 30th. Not a good thing, no matter how you put it.
Lentuo owns the buildings and not the land.Land is owned by China in China.
I can't believe this scam is still around. What BS is the old crook selling now? I assume m fuel has evaporated somewhere in Korea in inadvertently cured the chicken flu? LOL
Company dealerships are operating and actually have bunch of vehicles for sale posted all over bita and other venues. They are also hosting some kind of concert on April 23rd where they are going to showcase a new Audi. This is the strangest company I was ever involved with.
Well. They stole our money and not a damn thing we can do about it. Did you read a chairman's letter dated January 7th? Why did NYSE wait two months to suspend trading? No more Chinese stocks for me, bunch of thieves.
Auditor resigned in January. Company is mia. NYSE suspends trading.
Lentuo Response to a class action is due today.
2013 annual report has disappeared from the lentuo website. 2012 and 2011 still there. Consolidating 250rmb million loan and restating results would take time and explain a long term halt.
Not yet anyway. Sec suspension halt is H10. LAS is still T1, news pending. LAS no longer has a US based IR representation and CFOs email is inactive. At best they are incompetent.
I guess it does not help when email to main ir contact, acting CFO, comes back as undeliverable.
While I have no idea what this halt is all about, I do know it's premature to panic. Company has requested a halt last year and it lasted into a next trading day before they released a pr. China is 12 hours ahead so timing on preparing a pr is a little different vs US based companies. Keep in mind, that this a T1 halt and not an SEC trading suspension. NYSE is closed for the next three days and I would not be surprised if we don't here anything until Monday.
Hetong Guo founded this company in 1994, but didn't go public until 2010, he owns 50% of the company and has been in the automotive business his whole life. Lentuo Electromechanical loans were not consolidated in Q3 after last year's contoversy and results were ok with Earnst and Young. New car bank certificate issues have been resolved according to the same reporter, that reported them in the first place. Dealers don't make money on New car sales, not in China and not in US, service and maintanence is where the profit is, however they do have to pay for inventory upfront, either in cash or floor plan, due to this fact every dealer has ocasional cash flow issues.
Are you guys for real?
CEO told you in the filing, that he will issue 2.6 billion shares to cover 400K in debt and shares outstanding will grow to above 5 billion. Some people are here to stir the pot, some invest without a clue and most cry to make themselves feel better.
Well, I think at this point it is clear to MS, that no other pie in the sky discoveries or promises will move a share price as evidenced by Esterhol revelations and show me the money immediate effect. It does not mean he does not believe in it or did not believe his previous forward looking statements possibly would come to fruition, like Ukraine,South America, railroad, batteries. etc.
Korean Chicken has been around the longest and has had constant progress although at a snail pace. It is do or die in the next few weeks, if production does not start before spring arrives this company is toast, chicken or no chicken. If one believed it was not a scam in the past 6 months, it would be foolish to assume so now, because of the dilution or a share price.
Share price dictates negativity here, however current share price does not predict future movement or does not necessary reflect the fundamentals. I have yet to see proof, that management is lying.