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You are right it was CPQQ.It was one of those from the old days that was neither doing buybacks, neither paying dividends and still was so much undervalued according to their Income Statetemets and Balance Sheets but nevertheless kept filing quarter after quarter for perhaps 5-6 years or more.
But in the end the inevitable happened.Unfortunately most probably their numbers were not true.
Just check their last 10-K before the Geo article when they had a market cap of over $100million and you will be astonished too!!!
http://www.sec.gov/Archives/edgar/data/1111817/000101376212001817/form10k.htm
"As of September 13, 2012, we had 29 shareholders of record."
More than 5,000 shareholders on record?
First time this has come to my attention.Solomon will have nowhere
to hide in case this proves to be some kind of scam operation.
More seriously this number gives me much more confidence to invest
more.Chinese micro-caps that have either gone dark legally or illegally or have been proved to be scams had mainly under 300 and almost all under 1000.
Have just checked the last big scam LPIH and was astonished to see that they had just 30 shareholders(me being one of those idiots).
Apparently they are not satisfied with how they reported things about Anhui University.Their reply that it has been sold and the Sec should stop bothering has not satisfied the Sec.
But Wonder has not replied since mid January.Hope it will not turn out to be a major issue.
Any idea how many new accounts they have added in Q4?It was 5,000 Q3 and 14,000 total for 2013.
"A VIE will give investors access to a company's profits but not give them any ownership of the company"
What is this statement?Of course you get ownership of the company
indirectly.
Can u tell us the stock?
He didn't tell you when they answered the latest questions did he?
Because I think the SEC takes about 2 weeks max to reply.
So we could have a guess whether further questions have to be answered or whether the process is complete.
Yes exactly.I think you are right.Having checked some companies that have applied or approved recently for listing on the NASDAQ like TIPT,RXII and HBPI, they apparently don't file anything with the SEC and just correspond with NASDAQ directly.So once SIAF gets approved we will get an announcement and then a filing with the SEC called CERTNAS.
What I had in mind was for a company trying to get initial approval to list anywhere OTC,NASDAQ,NYSE.Then the process is though filing S1 and S-1/A with the SEC.
So who is correct you or as per this post " the S1 does not need to be approved by the SEC just the application needs to be completed" ?
If you are correct we know why the S-1/A is taking so long to be filed?
So is it possible to ask the company what is the situation at the moment?Because either the S-1/A was accepted which obviously is not the case or the SEC got back within a couple of weeks with their comments after which if the company wants to pursue their listing efforts has to file another S-1/A.
So do we know whether the company is working on this new S-1/A and when they plan to file it?
Another factor you have to consider is the number of shareholders.
If they have under 300 they can voluntarily stop reporting and you might never hear from them again.Recent examples have been CMFO and MSAH.
Taking this into consideration I decided not to invest in BIGG even though it looks like a great opportunity in the sector.
Usually after you file an S-1/A, I believe the Nasdaq comes back with either an approval or comments after which you have to file another S-1/A.Am I correct?
In this case do we know why it has been two and a half months since the last amendment?
Share Buyback!
But up to 500,000 shares within a year for a company with so much cash?What a joke!!!
Bad couple of days for the sector.This just a day after CMFO decided to go dark.
I think she doesn't know what going dark means.They will go there initially I guess, but then they will be revoked by the SEC when they will stop filing.
Gone dark?I thought they had published some preliminary results lately.
They forgot to file?
Reported on time this time
Hope they keep this up and stop filing those NT-10Q. Satisfactory results as expected.
Just a question mark about those $7million they have given to a related party.
Where did you find 120 million?
According to the Asher filing:
9.99% (based on the total of 96,645,019 outstanding shares of Common Stock)
Nothing happened to the directors of probably more than a hundred other Chinese micro to mid cap scams.So they had nothing and have nothing to fear.Maybe they are just unlucky because this was perhaps the best setup scam of them all, and were caught earlier than they might have wished.
No insider buying at these levels.
So forget it.Almost certainly now, we got screwed.
Plans for uplisiting according to CC
They need to spend one year on the OTC and then are planning to start the process for listing on a higher exchange.They gave some explanations during the CC about some questions concerning the 10-K and said it is business as usual for Eastbridge.
Norm from Wonder's CC:
They are continuing making progress on the customers in their pipeline and hope to add a few more soon.Also of course assisting the parent company in their funding efforts.
So they cannot apply for a higher exchange now?
I did.Let's see if we get any replies.
QUESTION 1:
Could you please explain how the value on the Balance Sheet "Computers,Furniture and Equipment" shot up from $7.4 million to $12 million?
QUESTION2:
Because many if not most of Wonder's shareholders are also shareholders of CBMG and holding on to the shares of Wonder and perhaps adding more depends on how CBMG performs, is it possible to give us a very brief update on the Eastbridge part of the company?
The thing is you usually upgrade your equipment so it is one thing to spend $4.6 million on it and another to raise the relevant value on your Balance Sheet by as much.We are talking about huge numbers in any case.
How did the Value of "Computers,furniture and other equipment" in the Balance sheet go up from 7.4m to 12m in just one year?
From the NT - 10K they say they had revenues of 9,368,000 in 2012!
Will be interesting to see how they got to that figure with Wonder's share price at 50c.
Probably they will take a big loss in Net Income in 4Q.
Anybody knows whether the deadline for them for filing was not today?
They have to file something today.Hopefully we will have news.
But NT 10 -K once again!
Why do they keep this bad habit of not filing on time?
I think it wouldn't be very wise to issue PR's on what EBIG is doing because then it wouldn't make their main business not look very serious.
Just hope we will get some updates in the 10-K tomorrow.
Wonder have once again filed a NT 10-K.Don't know how they manage to do that every time.
And then we are wondering why their share price is under 50c, meaning that at the moment
EBIG with not much progress with any of their other clients, is bringing pretty much
nothing to the table.Hopefully they can convince Wonder's management to do something soon about it - share buybacks,dividends or at least timely filings.
We need to see insiders buying sizeable amounts of shares pretty soon.Otherwise almost
certainly this was a scam.
At .20 to .30 cent Wonder looks at the moment to be a vastly superior investment than CBMG.
They came about not through a reverse merger but through the Sec,Finra etc.
And if you trust Ebig's management you should obviously trust Wonder's management as well.
Which one?I don't believe u.
The point is, the real frauds (and there are not that many)...
Maybe you are new investing in the sector.
Here is a list for you to check if you have the time.Just a few and not the high profile ones:
GHII,HFGB,CKGT,LTUS,AKRK,HELI,FUQI,PFGY,PAYI,XNYH,JGBO,DGWIY,DYNP,
CTXIF,APWR,JADA,CYXN,CHBU,CSOL,CNOA,WEMU,EQPI,CHFI,BFAR,CSKI,SRRY,
TBET,WKBT,CEII,UTRA etc,etc,etc and the problem is companies much bigger ones
like LPH start to be big question marks.
No Chinese company that has been paying dividends or does share buybacks comes to my mind that has been proven to be a scam.
But I could name you over 50 Chinese listed companies that never paid dividends or did share buybacks that have gone totally dark.
Another thing to consider are Conference Calls.If they don't do them just stay away.
Don't know about complete scam because I went and saw them at their booth at the CPhl in Frankfurt last year, where they promised me they were in the process of refiling, and
apparently they were in Madrid this year.
I sent an email to sales@xahuifeng.com with no reply so far.Did you send an email to Bing in case you know her personal email?She the only one that spoke to me in Frankfurt.