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I agree that the 2013 financials are too old. But, if they want to be SEC compliant, they can't get there without those being filed. Now, they can take the next steps to audit 2 years and re-apply to become SEC compliant.
The next steps after that would be to meet the requirements to uplist to NASDAQ and move forward with applying for the uplisting.
You are basically proving our point that they are paving the way to be listed on NASDAQ. Thank you for helping, us longs, in reconstructing what they are doing to get there.
GLTY and all the longs.
DeLeon is their external auditing firm.
It looks like I already responded to this post in my previous post. IMHO, Mr Wang would not have spent, I believe someone said, 100K going back and reconstructing the 2013 financials, unless he was trying to close the loop on getting the financials audited for several years.
Just my humble opinion as a retired corporate accountant and auditor.
GLTY and all the longs.
I am assuming that they went back and filed the 2013 financials exactly for the purpose of having 2 years of audited financials, as you are stating.
IMHO, that is why they hired DeLeon way back in May 2017, also.
GLTY and all the longs.
You get the cigar! DeLeon was hired, per the 8K below, filed in May 2017.
https://backend.otcmarkets.com/otcapi/company/sec-filings/12146740/content/html
I am not completely certain, but I believe Della Donna was hires to prepare the financials for JBZY(D) and DeLeon & Associates were hired to audit the financials.
GLTY and all the longs.
Sorry, he isn't the one they hired that is the PCAOB auditor. The one they hired also specializes in SEC reporting! Dig deeper!
They hired one, I believe in April 2017. If you do some DD, you will find them.
I have a financial background and understand that raising the A/S will also dilute his control over his company. If he raised the A/S TO 4 billion, instead of the RS, he would only own 30% of the common shares, so anyone with more that 30% would be able to wrestle control of the company from him.
I am going to stop responding to you because I don't see any value in discussing financial matters with you any further.
You are right about not being a SEC filer, but my bet is that these annual financial reports will be audited. If their plan is to go to NASDAQ, the annual financials must be audited financials. Like I said, we will see when the annual financials come out what was brought into JBZY(D) in November 2017.
GLTY and all the longs.
And, that is a good thing because he has to maintain control of what he is bringing into the shell. If he doesn't maintain control, he loses all his assets to anyone who can own more common shares than him. If his preferred were to be affected by the RS ratio, his 60% would becomes 12,500,000 in common shares which is .63% of the A/S. Our portion would be .4% of the A/S. Anyone who buys more than 12,500,000 common shares would then be able to take over the company.
What person, in his right mind, that has built a company from the ground up would RS his preferred shares??????
GLTY and all the longs.
I guess we will have to wait and see. When the financials come out, this so-called overvalued company might be grossly undervalued. IMHO, we will know soon what ZJMY valuation was merged into JBZY(D). We both don't know, but I do know that the Z symbol on the financials matches the Z symbol on the cars that are being touted all over various media outlets in China, as well as the the ZJMY name being linked to the government website on a massive deal, linked to having ownership in other EV companies, linked to having various partnerships for production of various EV model types, as well as being displayed on a government high-speed train, and being touted at EV fairs and conferences, etc.
GLTY and all the longs.
So what's your point? Apples versus oranges. Many companies have preferred stock that can be converted. The principles will retain their preferred stock and not convert because they want to keep their companies appreciating through their innovation, acquisitions and continued growth, which affects their PPS and the value of everyone's common shares. They may convert some shares, but as long as they want to retain control of their companies, they don't convert and sell too many shares, because they know they can guide the destiny of their companies by maintaining control of their preferred and majority voting rights.
The scenario that you point out is one where Mr Wang no longer wants to continue with the company, which will never happen, because whether he runs the company or whether he retires, his preferred shares will become more and more valuable as the company grows. I don't see him ever wanting to cash out of his company. IMHO, he plans on going from multi-millionaire to multi-billionaire.
Looks like you are assuming all preferred shares will be converted and diluted. PPS is based upon O/S, with future potential growth based upon the financials and prospective growth plans.
As Joe Friday, on Dragnet, would say, "Just the facts, ma'am!" Nothing in your post has any factual data backing it up. Please ad the facts!
BTW, I have done the DD and believe in the DD. When all is said and done, this stock may be $100 per share. There are a core group of about 200 longs that believe in this stock and are sitting on the sidelines waiting on the financials that should be here within two weeks.
GLTY and all the longs
Nothing! Don't care! I was up over $2 million, but I don't flip, short or care about short term profits. Long term is where the money is.
I can wait 1.5 weeks to find out. I am still up 300K!
I don't worry about the day to day PPS, since I am an investor.
Only about 1.5 weeks before we find out. I can wait until then.
Shorting a stock is risky, makes chump change and can be very devastating, if caught in a short squeeze. Investing in a unicorn requires minimal upfront cash, when found early, and can bring great wealth after all is said and done. JBZY is one of those stocks!
GLTY and all the longs.
It means buy more at this low price. I did the last three days.
I know what I own!!
You don't spend tons of money as a scammer. You spend tons of money to prepare a shell to bring in exceptional wealth. IMHO, that is what is happening here. Mr Wang is preparing this shell for growth, stability and the viability of going to NASDAQ.
IMHO, it is the MM's and shorters that are driving this down right now, so we wait for the financials to provide us with the correct picture of what the PPS should be.
GLTY and all the longs.
As Joe Friday would say, "Just the facts, ma'am" New policy was in effect as of this year. Employee stock options were last year!!!!
No excuse, just pure facts.
And your point is? These are new this year. They were not in effect last year and they are not retroactive. So you are saying the employees couldn't have purchased stock last year because of a new policy this year?
GLTY and all the longs.
And your point is? These are new this year. They were not in effect last year and they are not retroactive. So you are saying the employees couldn't have purchased stock last year because of a new policy this year?
GLTY and all the longs.
Don't be afraid and don't listen to the naysayers. All that means is that the financial reports have not been filed when they are due. If you look back at the OTC-JBZYD website you will see that the company has been late every time they have filed this past year. It is a private company that just went public in December 2016 and they are just getting the hang of filing on a US stock exchange.
GLTY and all the longs.
I beg to differ. Here is an article that says that certain brokerages are operating in China and that Chinese nationals might be able to go through these brokerages to buy stock. I believe that someone mentioned that the stock had to be bought by a third party, who is licensed to buy/sell stocks, for the employees to be able to buy them through their company stock option plans anyway, like the one offered by JinBo.
http://startbuyingstocks.com/how-to-buy-us-stocks-for-non-residents/
IMHO, being late is the Wang Thang! Class is still in session and will be until 4/15 or so. When fins come out all will get schooled.
GLTY and all the longs.
IMHO, class is still in session and will be until 4/15 or so. When fins come out all will get schooled. Being late is the Wang Thang!
GLTY and all the longs.
Oh, I forgot to ask. How is he going to make any money if he is bringing worthless nonsense into the shell? He hasn't made much money yet since it doesn't look like he has diluted any of his shares yet. So, please explain how he intends to make any money when existing shareholders, employees, and new investors don't see value being brought into the shell on the annual financial reports, which are due now and may be coming anytime within the next two weeks.
I normally don't respond to your posts, but I am going to respond to this one because I want to hear your answer.
Why would Mr Wang and Mr Oravec go through so much brain damage to perpetrate a scam? Why wouldn't they have just started pumping the stock when Mr Wang bought the shell and when it went up to it's then record highs in the 12 cent range and then later in the 15 cent range?
Also, most scammers don't spend any money to perpetrate their scams, yet Mr Wang spent lots of money on the lawsuit to recover fraudulently issued shares, spent lots of money to file FINRA required 2013 reports, which he didn't need to, to perpetrate a scam, and spent money and time to change the name of the stock to ZJMY and waited over 6 months for it to be approved. None of these were necessary to perpetrate a scam, so why do them, if this was truly a scam? Let us say that he is trying to perpetrate a scam, why hasn't the OS risen significantly if he has been converting and diluting his shares? Each month we are updated on the share structure and all of the additional shares that have been added to the OS have been explained, in the quarterly reports. No one that is perpetrating a scam explains why the OS has increased.
The simple answer is that this is not a scam. This is a real entity with great potential to be the next Alibaba or Tencents.
GLTY with whatever you choose to do with your life. As for me and many longs, we will believe the DD and believe in the integrity of Mr Wang and Mr Oravec.
And there lies the dilemma. You can't issue more shares, convertible preferred or common, when the preferred shares convert to 1.25 billion common shares and the O/S was 800,000+ shares, with the A/S being 2 billion shares. You either have to raise the A/S or do a RS. If Wang raised the A/S that would dilute his percentage and I am sure he didn't want that. The simplest solution was to do the RS and reduce our shares, since we brought nothing to the table. That way, the shares needed, for the merger of the rest of ZJMY, are freed to pay for the merger.
GLTY and all the longs.
I am of the same belief, sir90.
Right now, he owns 99.3% of a shell, we own the other .7%. The only way he can increase the PPS is to bring value to the shell, which is what I believe he did in November 2017, when he merged the rest of ZJMY into the shell. His next step is to bring value by sharing his 99.3% interest with his partners, affiliates and acquisitions, by trading preferred shares for the value, brought in by the majority or minority partners, in those partnerships, affiliations and acquisitions. That is why our interest shrank from about 40% to .7%, because we did not bring in value just by owning the shares that we owned. IMHO, that is what will have to happen to attract and keep institutional investors and major brokerage firms. As this continues to happen, our .7% will grow, in value, as this unicorn expands and grows.
I am happy that he let us go along for the ride with only a 1-100 RS. If he wanted to totally get rid of us, we would have seen a 1-10,000 RS or greater.
GLTY and all the longs. Of course, this is just my opinion.
It looks like they ratcheted the PPS down like I stated. Now there are 3 MMs with high walls on the ask. IMHO, they are trying to drive this down so they can cover what they shorted at a higher PPS.
IMHO, until we get the fins, this is the game the MMs have to play to make any money.
To each his own. The only reason that I see to slap the ask is to get more shares whether at the ask or cheaper. The MM's are in control and the float is tight. The only way they can make any money is to sell you shares that they don't have, at a higher level, and then try to cover at a lower PPS.
The MMs want you to try to take out the 2.68, so they can undercut the ask and ratchet the PPS down to cover. If it sits with no movement, they can't make any money. I can wait at 2.70, until the fins come out, and then they have to cover higher.
I believe the markets are closed Friday because it is Good Friday.
I don't think so. I am up 250K and will soon be up 2.5 mil. This has been a unicorn to me and I believe this will always be a unicorn to me and other longs. We will soon see who is right.
GLTY though, since you believe this is a scam.
There were 4 large trades near the end of the day, but I am not sure if it was one trader or trade. It could be MM's covering their short sales or it could be a whale buying up numerous shares, with 1000 shares being recorded as a buy at the bid. I can't tell by just looking at the trades recorded. Anyone can see the trades made, with a 15 minute delay, at:
http://ih.advfn.com/stock-market/USOTC/jb-zjmy-holding-company-inc-JBZYD/trades
There were definitely more buys than sells today.
IMHO, there are about 200+ longs that would disagree with you. There is an unbelievable amount of DD that says the battery and EV plate, by itself, is going to be amazing.