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This was posted 3 days ago on Nov 29, 2020.
https://accountant-cpa.com/made-money-on-a-china-ipo-be-careful-about-what-happens-next/
Do you have a facebook account? I have no problem accessing it. I copied their post from FB.
They last posted on Nov 10, 2019. Maybe this is our year.
LONGWEI PETROLEUM INVESTMENT HOLDING LIMITED · No. 30 Dajingyu Street, Xiaojingyu,…
LONGWEI PETROLEUM INVESTMENT HOLDING LIMITED (Entity# 20001056132) is a business entity registered with…
opengovco.com
Nov 10, 2019
https://www.facebook.com/search/top/?q=longwei%20petroleum
Note that the company is still a CO corporation that is delinquent in their filing. There is no time limit and is easy to remedy.
https://www.sos.state.co.us/biz/BusinessEntityDetail.do?quitButtonDestination=BusinessEntityResults&nameTyp=ENT&masterFileId=20001056132&entityId2=20001056132&fileId=20071470715&srchTyp=ENTITY
The judge in Denver wanted to dissolve the company as it was sued by a clueless shareholder. In order to do that, the SEC had to revoke their securities but they decided against that, so the company is still active.
Some of you received a second check that was a part of the shareholder suit and is not related to the Denver suit. The judge in his wisdom was holding that in a contingency fund and released it after the SEC decided to not revoke their securities.
Patience.
Rest assured that you are sitting on a goldmine. Chinese are the most patient people on the planet and Longwei will reappear when they are good and ready.
Consider that the SEC now knows that they were duped by a fraudster passing himself as a 'whistleblower' and that there are still millions of naked short shares - via pre-relaeased ADRs - outstanding that the SEC needs to clean up.
Keep up on their FB page:
https://www.facebook.com/search/top/?q=longwei%20petroleum
Here is Unemon's post from their FB page that is no longer available. Looks like they are trying to cleaning up the mess.
LongWei Petroleum - Overstating its inventories. - Free Download PDF Ebook
The SEC has been contacted and they are working on Longwei. There are a bunch of ADR pre-release lawsuits going on, which is what happened to Longwei. This caused inappropriate short selling - phantom shares that were in effect naked shares. Google “adr pre release sec” and you will see a bunch of current cases. Here is one of them:
https://www.sec.gov/news/press-release/2018-255
Also, Longwei settled with Geo per the lawsuit below (page 21, paragraph 83). They are probably going after Fatty Boy now.
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=FcrnNlWrNExp_PLUS_7kZDE6AhQ==
Plus, the SEC had their first short-and-distort case recently with Ligand.
https://www.sec.gov/news/press-release/2018-190
I think we should get some news from the SEC within a few months. They might be going after Fatty Boy too since he was acting as a whistleblower for the SEC. They frown upon that. The new SEC chief is going after Main St fraud and I am confident that we will be rewarded in the end.
Hey Dude, heard anything? Do you know if the company is doing business in Canada? Thanks
This is a mistake because the judge already ruled. The Secretary does not know what is going on. It will get straightened out. See below:
https://www.sec.gov/alj/aljorders/2018/ap-5643.pdf
According to page 21 of Eros' lawsuit, Geo settled with Longwei:
83. Since 2011, GeoInvesting has been named as a defendant in at least two
defamation suits accusing it of publishing false statements as part of short and distort schemes.
See Sino Clean Energy Inc. v. Alfred Little, et al., No. 651248/2011 (Sup. Ct., N.Y. Cty. 2011);
Longwei Petroleum Investment Holding Limited v. GeoInvesting LLC, No. 2:13-cv-01442 (E.D.
Pa. 2013). On information and belief, GeoInvesting paid to settle both lawsuits confidentially.
https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=FcrnNlWrNExp_PLUS_7kZDE6AhQ==
My guess is after the June 30 audit.
Eros got a lawyer from Kasowitz, who was Trump's lawyer for a while. You can click on and follow the case (see second paragraph below).
"The Company previously announced that it retained Michael J. Bowe, a partner of Kasowitz Benson Torres LLP, to investigate and pursue all available legal remedies against those responsible for these blatant attempts at market manipulation. Counsel is continuing its investigation. Anyone with information about those responsible for the dissemination of this disinformation can submit that information confidentially at (212) 506-1777."
"The case is 653096/2017 at the New York County Supreme Court. The complaint (pdf) is 115 pages long. First, I’ll start with the defendants, some of whom are well-respected short sellers. I have grouped the defendants below according to firm and employee/employer relationships."
https://www.goodetrades.com/2017/10/eros-international-plc-eros-sues-large-number-of-short-sellers/
It looks like the SDNY is getting wise. The shareholder lawsuit against Eros was dismissed, meaning they did not believe the short-sellers. They may have learned something from Longwei's case.
"Eros International Plc (EROS) (“Eros”), a leading global company in the Indian film entertainment industry, today announced that the United States District Court for the Southern District of New York has dismissed, with prejudice, the putative securities class action that was originally filed in November 2015 against Eros and certain of its officers and directors."
https://finance.yahoo.com/news/eros-international-plc-announces-dismissal-134500387.html
Yes. Here is another lawsuit for Geo from 10/3/17. These clowns are skating on thin ice.
https://economictimes.indiatimes.com/industry/media/entertainment/eros-international-sues-investors-over-market-manipulation/articleshow/60927685.cms
The Denver judge requested that the stock be revoked because financial statements were not being filed, so that the company could be dissolved. The SEC found that there is no reporting requirement so they did not revoke the securities. That means the company cannot be dissolved; it remains a public company and will not go private.
Longwei got their 'stay' from filing financial statements that they were not required to file in the first place as a delisted company. The Denver judge apparently thought that they traded on the NYSE. Maybe soon.
https://www.sec.gov/alj/aljorders/2018/ap-5643.pdf
This is will force Longwei to either appeal, re-incorporate or go private. The value of the company and the stake that each shareholder has will not change. Currently, the book value is about $8 a share. Their near billion dollars in assets in China cannot be touched by Americans.
Remember, Harbin Electric went private at $24 a share. If it comes to that, we would also be paid a fair price.
https://www.reuters.com/article/usa-china-harbin/short-seller-target-harbin-electric-goes-private-idUSN1E79S08X20111029
BTW, I notice that there are no more short transactions. The new chief at the SEC might be cracking down on the riff-raff.
All shareholders should write a letter to Longwei with a copy of the notice in case they are not aware. Their address is:
No. 30 Dajingyu Street, Xiaojingyu Xiang, Wan Bailin District, Taiyuan City,
Shanxi Province, China 030024
Over 2M shares shorted in the last 10 days alone...
The Volume and short volume are limited. It is not including all volumes from all Market.
Date Short Volume Total Volume Percent
2018-01-26 171,100 660,253 26%
2018-01-25 6,000 18,109 33%
2018-01-23 280,000 344,400 81%
2018-01-22 1,419,544 1,547,377 92%
2018-01-19 10,895 27,449 40%
2018-01-18 30,120 30,120 100%
2018-01-17 30,265 98,403 31%
2018-01-16 6,000 12,015 50%
2018-01-12 225,800 418,545 54%
2018-01-11 24,500 127,057 19%
Last 5 days short percent 72.67%
Last 10 days short percent 67.13%
Last 20 days short percent 55.95%
Last 50 days short percent N/A
Don't sell too early. The naked short-seller sold about 10,000,000 shares in the last year, some for less than a penny, and probably held more than that before then. Make him cover first. He is in hot water.
This is a better site for short volume because it updates quicker.
http://shortvolumes.com/?t=hscc
Homeland Security Corporation Registers as Vendor for “Trumps Wall”
That would put them on the map. Check out their website down near the bottom of the page.
https://marketersmedia.com/homeland-security-corporation-registers-as-vendor-for-trumps-wall/229366
Look above Marian Filo's post and below Longwei Petroleum's Posts. The link is in light letters. That was done recently.
https://www.facebook.com/search/top/?q=longwei%20petroleum
Look for this at the bottom of the page:
"Dismissal Without Prejudice" Allowing Longwei to File Defamation Lawsuit Again
They took a friend's post and added what they wanted.
Longwei's current Facebook posts leave no doubt that they are pursuing the defamation lawsuit.
https://www.facebook.com/search/top/?q=longwei%20petroleum
The 25,000 shares at .021 was a short sale. There was a transaction at the same time at .027 (hidden by market makers on Level 2), a new high in quite some time. Shorty got the short end of that stick.
Price Size Mkt Time
$0.02 1,089 OTO 14:58:30
$0.021 900 OTO 13:18:48
$0.027 13,000 OTO 13:17:40
$0.021 25,000 OTO 13:17:40
$0.022 600 OTO 13:12:59
It was trading at that price when the Motley Fool article was written. It traded at about $3.50 in 2012 before the illegal, naked short-sellers took over.
Don't sell too early. This company has $1 EPS and will issue annual dividends of $.30. That makes it a $10 stock. Read my post on Harbin Electric.
Shorts had 99% short volume yesterday. In 2016, there were over 17M short shares compared with 7.3M ADRs, according to court documents. This is setting up a short squeeze for the ages.
Historical Short Volume Data for LPIH
Date Close High Low Volume Short Volume % of Vol Shorted
Oct 30 NA NA NA 105,993 104,948 99.01
Oct 27 NA NA NA 55,159 24,527 44.47
http://otcshortreport.com/company/LPIH?index=lpih&action=view#.VnjOnPkrK70
Similar to being a kid waiting for Christmas. There is a chance of it being resolved before then. The shorts are up against it: Longwei’s defamation lawsuit, subrogation from Chubb (60%) and The People’s Insurance Company of China (40%) for the $1.3M claim they paid on the shareholder settlement, market manipulation charges from the SEC and the covering of millions of naked, short shares. People’s is an arm of the Chinese government so they also want some revenge, considering that this affects many other Chinese companies that they insure trading in the US. People's initial refusal to settle delayed the settlement.
I would rather see financials issued and then let the market forces take over. It sounds like shorts don’t have much money anyway. This group, along with Roddy Boyd, lost big when Harbin Electric went private at $24 a share. The only money they have now is probably from illegally shorting Longwei and other Chinese companies.
“And I am sticking to it, but boy oh boy I got proved wrong on Harbin Electric. I lost my ass…” Roddy Boyd said sadly to Reuters.
https://www.theblot.com/sham-southern-investigative-reporting-foundation-sirf-roddy-boyd-fbi-crossfire-7757399
https://www.reuters.com/article/usa-china-harbin/short-seller-target-harbin-electric-goes-private-idUSN1E79S08X20111029
They are probably talking about a settlement because the short-sellers would get killed in court.
If they do re-file the suit, you can log on to the website of the US District Court Eastern District of PA and follow it.
BTW, there were no naked short sales for a couple of months but there was one on 9/22. The SEC really needs to start doing their job.
http://otcshortreport.com/company/LPIH?index=lpih&action=view#.VnjOnPkrK70
This article is currently pinned. Note that Huajie was paid with cash from profits.
Based on their delay and pinned postings, it looks like they are pursuing the defamation lawsuit.
http://www.prnewswire.com/news-releases/longwei-petroleum-cfo-responds-to-investor-concerns-in-exclusive-interview-119905649.html
https://www.facebook.com/search/top/?q=longwei%20petroleum
Delisting is a Must--Digesting Key Issues in Longwei's Defamation Lawsuit
https://www.facebook.com/longwei.petroleum/posts/136527370014411
This was pinned to FB earlier but is not there now.
This is currently pinned to Longwei's FB apage. FINRA's figure does not take into account the millions of naked, short shares still outstanding.
https://heraldks.com/novagold-resources-inc-usa-ng-analysts-see-0-03-eps-longwei-petroleum-lpih-si-increased-by-13-04/
https://www.facebook.com/search/top/?q=longwei%20petroleum
"There is little risk in investing Longwei within the proposed price target as long as you are convinced Jon Carnes and GeoInvesting are criminals."
https://www.facebook.com/longwei.petroleum/posts/136510470016101
Click on their name for the full rebuttal.
Stock does not trade like a penny stock. That is because it is not.
Price Size Mkt Time
$0.02 4,000 OTO 09/12
$0.0199 30,000 OTO 09/12
$0.0175 20,000 OTO 09/12
$0.015 100 OTO 09/12
$0.002 1,200 OTO 09/11
Longwei can re-file the lawsuit. Thanks for your unsolicited response. Good luck to the Geo Gang.
That was the price at the time.
Now what: Longwei's stock currently trades at $1.17, even after today's gain. Diluted earnings per share for fiscal 2011 were $0.61. If that strikes you as silly, that's because it is. Investors are still deeply skeptical of small-cap Chinese companies trading on U.S. exchanges thanks to the cadre of Chinese companies that turned out to be frauds. That means that many stocks are trading at what look like absurd multiples. What's the solution to bring back confidence again? This Fool simply doesn't know. However, what I do know is that the companies that are proven legitimate will likely prove huge winners for investors.
The answer is dividends.
Tony Wesolowsky Well, just sunk a whole lot of money into LPH. Hope this acquisition goes through....
September 20, 2011 at 3:26am
The lawsuit against the short-sellers is the only thing that might cause a delay. Longwei might want a settlement since they won the shareholder lawsuit.
http://a.eqcdn.com/longweipetroleum/files/defamation_lawsuit.pdf
They have an outside IT service.
Here is the article since their FB page has changed.
https://www.fool.com/investing/general/2011/09/13/longwei-petroleum-shares-popped-what-you-need-to-.aspx
Today, one trade of 1200 shares at $.002. Shorts up to their shenanigans again...desperation is evident.
Longwei is currently showing 2 posts from friends and 1 public post. The company is sending a message judging by the contents of the public post. Also, check out the comment.
https://www.facebook.com/search/top/?q=longwei%20petroleum