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,,,yes of course he owned shares,,,its printed somewhere in early filings as director of the company,,,on the surface it never represented an overwhelming block ,,,and i am not charging him as the seller,,,however when you have been the prime legal advisor for the company as long as he was,,,,,,you know where all the skeletons of the company are buried,,,his potential knowledge of the corruption of DFCT can not be dismissed nor proven,,,( as scandals of recent times never involve lawyers ),,,,,on the other hand this company has been growing for two years while the stock has consistantly declined for the same period,,,,coincidental ? maybe ! nevertheless today i am happy ,,,if it takes a nickel to end the problems of Fan with the "fanthom seller" then bravo i am thrilled to force the issue,,,,
,,, i have written many times of the frustration Fan had when he hired a PR firm and issued frequent and good press releases and each one was met with heavy selling pressure, ( my count was about 14 or so ),,,,,i know to most of you Fan appears to be immune and insensitive to shareholders and the price,,, not to defend his decisions, but his problems with the selling may have had only one resolution,,,and we may be watching it,,,,
,,,the resignation of Reiser from my view is a good OMEN,,,,it is the final cleansing of the old guard connected to the DFCT paper company,,,,those guys were thieves and cooked the books,,,,how much Reiser knew about it all is problematic,,,,but his position as a director always left me wondering , no one has ever been willing to speak about the relationship between him and Fan since he was removed as the corporate lawyer,,,including the now ex-CFO Aaron Zhu,,,,,for all we know he may be linked to the constant decline of the stock,,,,,as a lawyer he has privilege with his client and has never been willing to discuss anything,,,,that privilege remains even as he has resigned , as such no source for any information that is relevant to the current issues,,,,
,,,nevertheless for me it represents a " turning point " if the share price has to drop to resolve the " real issues of seller and if it will accelerate resolution of things ,, so be it ,,,our famous Mad Money commentator on CNBC ( Cramer ) has a nice cliche that seems to fit,,,,its not where the price has been,,,it is where the price is going,,,,,with company obviously doing well in positioning itself as the IT Brand , these conditions of the share price can not last, there is too much greed in human nature and this silly price does not reflect the company stature in China, sooner rather than later " seasoned players with China knowledge will recognize the larger picture and the upside will begin,,,,,,
,,,after the delisting Reiser was removed as the corporate lawyer and replaced by LOEB and LOEB , specialists in AMEX listings,,,,his replacement as a board member will probably be a Chinese crony of Fan`s,,,,,,,
,,,as a sidenote Reiser also provided the shell corporation and legal work that became CPICF,,,,,there were also problems with that legal work,,,ultimately the deal was broken by the Hospital group and researchers that Fan tried to acquire,,,,,
,,,various ways,,,,,Reiser was the original corporate lawyer for the chinese and did all the legal work for DFCT,,,,,when dichain came into existance sarbanes/oxley was already in force,,,,and the legal work and advice to Fan was shabby and incompetent,,,, and the legal documents and resolutions of the company were flawed,,,,
,,,the end result was the delisting of DFCT from Nasdaq
,,,also met and chatted with him at shareholder meetings,,,a very nice old man who clearly was not up to speed,,,,,he lasted on the board because chinese have a tough time seperating themselves from "old" revered relationships,,,,
,,,,Reiser was the incompetent lawyer that screwed up the nasdaq listing !!!!!!
,,,for those who may not have noticed,,,,,news items are posted daily on the China Merchant Website,,and almost as frequently on Fan`s Dichain Holding website,,,,,was is not congruent is the frequency of items on the CTGLF website,,,,aside from the fact it is a smaller company it has been obvious for considerable time he does not want to do it on CTGLF,,,,,,,,one of the mysterious questions i have no answers for,,,,,their is always an item to post about if he chose too,,,,,why the others and not CTGLF ,,it is not that he is unaware,,,,,
,,,,JR,,,,what has happened to your dialogue with Eddy,,,,
,,,never met one who was not,,,,its their nature,,,,in this case tho its most probable he is still a " non believer "
,,historically the chinese are very slow in accepting western proposals unless its a critical issue,,,,and the proposal is still in play,,,
,,,an example of "cheapskate" he cut the cost of a western PR Firm when it did not produce instant results,,,and hired Sifie!!!!
,,,The COST !!!! even tho it guarentees to raise the capitalization of the company by multiples of millions of dollars,,,he so far he has decided not to pay up the cost ,,,,,
,,,,JT if you read extensively these china blogs i recommend , one of the themes you constantly pick up is the same lack of communiations by the scores of chinese companies,,,,secrecy is still ingrained in their culture and only the more asute entreprenuers in China are changing their colors more rapidly than the rest,,,,its agonizing slow process , the understanding of the benefits of transparency,,,,,
,,,, I do what i can with him, but he is elusive,,,he has had a sophisticated proposal sitting in his desk for months now , on "How TO " use some of the little known techniques CEO`s use that go public the reverse merger route/ reorganization ,,,to maximize his share price,,,,so far it has been ignored !!!!!!
,,,follow up to previous post,,,,understanding all of us want to do productive actions that might enhance share price, consider the folowing,,
,,,Blogging is the current phenome of the internet,,,we all can blog or better yet send send recommendations to bloggers,,,for those interested calling attention to a variety of these sites about your HOMEWORK on CTGL has potential of incredible results,,,one never knows when a key researcher for this vast amount of capital searching for companies might trip over your comments,,,
,,,as the blogging about China increases it seems impossible that CTGLF can remain a needle in the haystack for much longer,,,when these Fund Managers learn where to make and how to make inquiries about new opportunities,,,some will make their way to the MINISTRY of COMMUNICATIONS where all IT deals have to be approved in China,,,as most know they would trip right over Fan and his associate in the China Merchant Group which is basicly the Minsistry of Communications,,,
,,,i have sent numerous messages myself to these bloggers,,(EZRA MARBACK of the CHINA BLOG) one of the better of most,,,,
,,,this is a plan of "action" that is productive and could effect in major way an acceleration of our share price,,,,,
,,,below is a link to one of many China blogs,,,,,as you read and scroll note the the vast amount of capital chasing deals and new funds opening every day looking for good companies,,,,
,,,one of the stated objectives of Fan is a strategic partner, my view of course is one day we will read a PR that Fan has made a deal with one of these eager players,,,as of now its clear he needs one of these partners he can trust to give new impetus to the stock,,, and accelerate both his learning curve about our markets as well as a new incentive for him to accelerate growth,,
,,,, http://www.bubbler.net/lin
,,,,with any luck in behalf of the rest of the investors,,,i hope its lost ,,,i regret ever bringing the man`s name to attention,,,
,,,,it reflect a total lack of thought and HOMEWORK,,,,,
,,,,he could care less about those details,,,whats more you ask details that he is not responsible for and probably would have to ask Fan himself,,,,,
,,,,the prime objective was to impress him with a written e-mail in Mandarin first AND FOREMOST,(coming from an American activist group would have been impressive,,as Americans do not speak the language and it is a rare one who does),,then with any luck a well crafted message secondly might have given him reason to call Fan in for a conference and discuss ideas about how Fan might do better with the share price,,,,,which was the prime objective,,,
,,,sorry if your offended ,,,but your lack of homework is disgusting,,,,
,,,,,he certainly was not fired,,,,my understanding from sources inside the Union Bank he worked for and those who know the story is that he is the "fair haired boy" in fact of the Group,,,,and was given the opportunity when DFCT was wholly acquired to take one of the profit centers of the Dichain group and run with it,,,,,the jury is still out on how well he does in their view,,,,we certainly are not happy on his promotional capabilities in our markets,,,,nevertheless the chinese do have a much longer time frame that they view things than we do,,,,,,he does have his detractors,,,Aaron Zhu the ex-cfo has less than flattering stories,,but none for the record as he has to live and work in Hong Kong,,,,,the other unknown obvious detractor is the seller,, which i have been trying to flush out for months,,,,no success,,,if so i would have gone to Hong Kong myself to interview him,,,,
,,alan is starting to ask some of the right questions,,,ask him how much effort he has done in getting the answers,,,his posts have words like "doubt" and "imagine" laced in his suppositions,,,which simply means he does not know, about a variety of issues he raises but assumes it as it conforms to his view of things,,,,which is OK as that makes markets,,,,
,,,i did,,,,an we have always disagreed on how to deal with the chinese,,,,,
,,,,if you want to test alan`s theory ( as in reality he would not go ) or would have already having a sizeable investment in the company,,,,you might want to have " getmynaz " to be the representive of the foreign shareholders, as he is a bright, smart , successful young businessman already,,,with a large investment in the company,,,,and already is chomping on the idea similiar to yours,,,getmynaz has to go to Hong Kong on other business anyway,,,,,,,and does not have go thru the money constraints that you would,,,,,,
,,,,much of what you say is correct,,,the parts that are not, can only be proven with an appearance over there,,,you have the money $$$$ to go, JT to has to hock his life to go,,,,besides indeed you have figured out the complexities and inter-relationships with in the "GROUP"
,,,you make it sound all so simple,,,,,,,,it is not !!!!!
,,,JT,,,,,,
,,,,forgetting the possible downside for a moment,,,the first thing you have to do is get a massive response from each shareholder on the subject posted on this board,,,( as the link to this board has to be posted in each e-mail along with each shareholder using his real name ( in the e-mail to them only to be compared to an actual shareholder list )
,,,so if you can drum up support from at least 25 shareholders, many more than that have posted on this site before,,,it might have a chance of being effective,,,,a few e-mails from the most frequent vocal posters on this board doesn`t cut it,,,,,
,,,No need to rush,,,,as it needs to be done right,,,and more importantly it needs massive shareholder participation,,,,,,other wise it gets discarded as marginal dissent,,,,( and they are masters at dealing with and ignoring dissent )
,,,ah, JT , your moxie is good for my old soul,,,it reminds me what the energy of youth can do in its full bloom,,,,
,,,i must think on the matter for a while,,,,
,,,Dichanin is listed on left column of news page along with all their other subsideraries,,,,,
,,,well JT that is problematic,,,,a mass mailing of everyone would certainly put sizzle at every water cooler in the organization,,,,you could not get the e-mails to him directly but again a mass mailing to the company in his name, would create such a firestorm of conversation , ( never been done ) i have contemplated in my moments of disgust with Fan a similiar more personal meeting with him,,,as I have met him but have no established link into him anymore,those kind of meetings are done thru channels and with maximum "quanxhi",,,,nevertheless its something thats never been tried with the Chinese, and it would surprise ( blow their minds away at our brashness and creative thinking to do it )
<<<<<<ACTIVISM >>>> Kick it up a level !!!!
,,,For those shareholders who want to raise the level of dissent about Dr. Fan beyond what is practical for most,,, in my mention of the "Taipan" in previous post,,i was not referring to Fan,,,,
,,,Dr. Qin Xiao is the Chairman of the Board of the China Merchant Group,,,in our lexicon the "Boss" of the CEO are the shareholders in this country,,,In China not true, not only does the control of Dichain lie within the China Merchant Group, but in China Dr. Qin Xiao is the "Boss" of Dr. Fan,,,,his credentials are on the China Merchant Website,,,,
,,,,, http://www.cmhk.com/cm/en/management/MANAGER.htm
,,,, In those credentials you will notice his resume with the CITIC organization , unknown to most,,,this organization was the first free enterprise in China to do joint ventures with any foreigners into China,,,and still remains the most (powerful and influential western style free enterprise in China), of which he was president, and CEO for some years,,,educated in London and mandated by the Chinese leadership in those days to open China to western style capitalism with socialistic characteristics,,,he is not only an extemely powerful cadre in China but one of the best seasoned officials in dealing with most of our top 100 corporations and Ceo`s doing business in China,,,,
,,,if you are inclined to "hit Fan where it hurts" send a mass mailing (e-mail) to him,,, that will raise the level everyone`s awareness in that group to American style activism,,,and in essence put a real firestorm of "heat" on Dr. Fan that he might respond too,,,as CTGLF up to now is the only spin off of the China Merchant Group to go public so far here on our exchanges,,,,Dr. Qin Xiao has a vested interest in the success of DiChain and CTGLF doing well here in our markets,,,,,,
,,,something for productive activists to think about !!!!
,,,if you really want FAN`s atttention,,,,
,,,For the rest of you shareholders who feel like JT,,,,i suggest you continue to write on this board how you feel about things,, this is the only shareholder forum now for CTGLF that is widely known and "monitored" by CTGLF management,( including the Taipan) ),,,so if any of you believe the management does not know our sentiment,,,you totally misunderstand the chinese,,,,,
,,,,Good luck JT,,,,,your view is right and its great to be right,,,however its better to make money, than be right,,,,,,my view remains the same ,,,your risk/reward analysis seems naive to me,,,,,your assumptions do not take into consideration a foreign language gap nor the chinese way of responding to foreign visits,,,,,,( to get the real tone of things from the chinese takes more than moxie ),,which you have plenty of,,but its misplaced in the same way you believed you were getting the straight scooop from Eddy in your early conversations with him,,,,,put your travel budget into stock,,and pick your time better for your need to vent your frustrations,,( a shareholders meeting )
,,,the most productive possibility for all shareholders ,,,is too flood the office AGAIN with e-mail,( this the best kind of activism under present circumstances),,,asking for an explanation of the last communication from them,,,, ie; regarding the filing promised within September !!,,,,it may not produce anything,,,but multiple reponses from shareholders,,,carry greater impact,,,,,,
,,,and if i was JT i would continue any dialogue possible with EDDY by phone,,,,,continuing to be tenacious and relentless in his inquiry ,
,,,if nothing else it is appropriate to register your discontent about the handling of the public relations with shareholders!!!
,,,an email takes 2 minutes to fire off,,,and its free activism
,,,dont know,,,the answer lies within the minutes of the board and its charter,,,may be posted on website and may not,,,,check corportate governence guidelines,,,
,,,I have scetchy info on all,,,nothing suspicious in your sense of the things, all of them allies to Fan,,,,,or they would not hold these positions,,,,
,,,one traunch of the original private placement monies was conducted by a Hong Kong brokerage house,,,and numerous indivduals/clients of the broker were the investors, all of them using hong kong corporations for their purchases ( standard operataing procedure for the chinese ) i would have to check the filings to jog my memory where he fits in the scheme of it all,,,,,
,,,refresh my memory,,,a thousand names in chinese blur at my old age,,,,
,,,actually it is not that far away as they are required to have a annual meeting ,,,but they call special meetings when they want to,,and have them when legal affairs that call for a shareholder vote,,,,,
,,,chinese protocals are very rigid,,,and it is naive to expect any thing more than a tour and spin control outside of a shareholder meeting,,,,,and i am not interested in spending my money for those niceties, had my share allready,,,,,
,,,Shareholder meetings are the place to do that,,,,,,,,,Regulation FD prohibits much more than rounds of "mai tai" (rice wine) to appease foreigners, if it is not a shareholder meeting,,,
,,,Many know I have attended their shareholder meetings,,,and also sent my lawyers to attend one, when i suspected possible chicanery taking place,,,,which was not the case,,,
,,,There is a time and place for everything,,,,,Shareholder meetings are the place to challenge management, as conversations are part of the record,,and the most productive,,,
,,,"raising hell" is just a figure of speech,,,,applying the kind of pressures to modify management behaviour takes connections/clout with Fan`s peers or superiors or "quanxhi" as the chinese say,,,,you do not have those connections,,,,nevertheless the Hong Kong trip would be a great experience and eye opener for you,,,,I would not ever dissuade you from that,,,,fact finding trips with the chinese is a very illusive proposition, and time consuming , let alone expensive,,,for the short term you would be better served buying shares with those $$$$,,,,,A Shareholder meetings in China is an event that would be productive as the dynamics call for the real agenda to be told,,,,and they will be having one soon,,,,
,,JT ,,,i would be there myself raising hell, if i thought it would be productive,,,,one has to pick carefully the battles one wants to wage with them,,,,the reward on this issue is not worth more than tenacious pressure by phone or email,,,,
,,,JT you need to take into account Regulation FD,,,which requires all information to be released at the same time,,,,Fan is well informed by council about takeing interviews with shareholders and speaking off the record,,,,NO ONE will do that, !!!!
,,,Hong Kong is a great experience,,,however without an invitation from them, you will spend a lot of money only to find them unavailable,,,,they will not tolerate a face to face confrontation,,,IMHO
,,,They have substantial pressure from their own contingent of investors,,what we are after is the same information that they have been receiveing,,,,believe it when say it differs from what we are receiving,,,,that can be accomplished with electronic communication and is easier for them to cope with,,,,no need to travel over this issue,,,
JT,,,,every promise made and broken by the CTGLF management is a loss of "FACE" for them,,,It may seem that they are immune from any reaction to these missteps ,but it does alter their behaviour somewhat, and they are part of the public record,,,as such : JT I suggest you maintain your pressure for the truth with Eddy and the gang ( real agenda for delays in audited financials publication ) ,,,my experience with the chinese ( they never seem to want to tell their real agenda , and want to hold their "cards close to the vest",,,) however each excuse has a way of getting closer to the facts,,,,,
,,, My sources will not discuss the subject !!! aside from printing of the annual report,,which has nothing to do with the filing with the SEC,,,,
,,,be that as it may,,,that is what we have to live with,,,one day he will choose a spokesperson who can,,,and then things will really rip !!!!
,,Fan`s achilles heel is that he does not know how to communicate and capture the imagination of the American shareholder ,
,,,the delisting shellshocked him , and took a lot of the moxie he was trying to muster for the american campaign out of him,,,and it does`t help that his English is spotty and broken,,,
,,,because the seller won`t deal,,,its one of those vendetta things that the Chinese are famous for and written into legend by James Clavel in "NOBLE HOUSE"
,,,he knows what he is doing,,,and has the "juice" to do it,,,ie: The China Merchant Group and first call on any contracts trying to get approved thru the Ministry of Communications,,,,,
Logistics in China before the Dichain (Fan) era,,,has been very fragmented and inconsistant and obsolete, with many tiny players having a piece of the pie,,,and a few American companies controlling the top tier but with limited and fragmented distribution mostly for their own use ,,,
Fan already now dominates the south of China thru the Hong Kong port ( thru China Merchant Group ownership ) and has estabished dominance in the South delta region thru the Shenzen enterprise zone and even further South thru BEIHAI enterprise zone (a recent contract),,,,Now this deal with the new enterprise zone is another northern region beyond Shanghai,, that he cleverly is taking first entry and will dominate by doing the groundwork and feasibility,,,soon Dichain will have the first totally integrated logistics system pieced together covering total China,,,,( one hell of accomplishment with the help of the China Merchant group which owns a substancial piece of every port of entry into China),,,,,,
,,,In addition he will have the only total distribution system geographically thruout China with RFID and Wireless,,,with state of the art securtiy integrated into DAP (6),,