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We can sue Mr.Robert Cardinal the new senior financial officer of yasheng group in Canada as the Cardinal Global Corp. is there:
http://www.cardinalglobalcorporation.com/contact-us/
Cardinal Global Corporation
8800 Dufferin street, Suite 101
Toronto (Concord), Ontario N4K 0C5
Call us at : +( 647) 472-2766
Hello realdutch, Welcome in Reality! Yes we should have sued them
since longtime, but when I proposed that, you pretended that there was no use of such a claim...
Here are the facts again:
Last filing :
"Net cash used in investing activities was $-324,337,031 for fiscal year 2015 as compared to $-61,920,730 in fiscal year 2014. The increase was attributed to assets purchase. Net cash used in financing activities was $2,068,428 for calendar year 2015 compared with $-5,900,285 for calendar year 2014. The increase was attributed to more debt repayment during the current year as compared to the previous year."
These figures raise questions:
1) Which assets did they buy for 324,337,031 Dollars ? They didn't publish it.
2) If they really purchased assets for 324,337,031 Dollars, how can it be that they published "total assets" are only 258,325,745 Dollars in 2015, ( compared to 2,480,030,368 Dollars in 2014 ?)
Fact 1) The swap lead to a decrease of 2,221,704,623 Dollars in total assets means a d e c r e a s e of 8 9,5 8 % of total assets.
So, where are the assets they allegedly bought buy for 324,337,031 Dollars in 2015 ?
What a hallucinating game is it to speculate whether it was the same girl on a phone call or not ?
The hydra has got new heads, so what ? Do these new heads have (email- ) and postal addresses in the US to sue them and to send them daily 500 emails until they react ??
And real dutch, where are your 200 Millions to distribute by dividends ?
Are you really talking about Yasheng Group?
How can you claim that they have already the cash to buy minority stakeholders out ?
Let's stick to the facts:
Last filing :
"Net cash used in investing activities was $-324,337,031 for fiscal year 2015 as compared to $-61,920,730 in fiscal year 2014. The increase was attributed to assets purchase. Net cash used in financing activities was $2,068,428 for calendar year 2015 compared with $-5,900,285 for calendar year 2014. The increase was attributed to more debt repayment during the current year as compared to the previous year."
These figures raise questions:
1) Which assets did they buy for 324,337,031 Dollars ? They didn't publish it.
2) If they really purchased assets for 324,337,031 Dollars, how can it be that they published "total assets" are only 258,325,745 Dollars in 2015, ( compared to 2,480,030,368 Dollars in 2014 ?)
Fact 1) The swap lead to a decrease of 2,221,704,623 Dollars in total assets means a d e c r e a s e of 8 9,5 8 % of total assets.
So, where are the assets they allegedly bought buy for 324,337,031 Dollars in 2015 ?
So please RealDutch, stop to claim fantasy figures .. and irreal hopes !
Good luck
Legally it is not important whether the warning comes from OTC-Markets or from FINRA or from SEC as OTC-Markets are working under FINRA and SEC rules as I have posted. This warning is to anyone concerned, including investors as explicitly mentionned two times in the text of the warning that you have posted:
"Publicly traded companies that do not provide information to investors should be carefully researched before making any investment decision. " and further on:
"OTC Markets recommends that investors wishing to place a trade in such securities contact the company to verify it is making adequate current information publicly available. "
So this warning is not only for insiders.
I do not make things up, I just report.
On the OTC Markets Homepage is noticed:
SEC Reporting : Delinquent
The WARNING is on:
https://www.otcmarkets.com/stock/HERB/quote
https://www.otcmarkets.com/no-information-warning
If it doesn't come from SEC, it may come from FINRA ? Nasdaq ? OTC Markets/ ?
The Over -the-Counter(OTC)marketplace consists of OTCQX®,
OTCQB®,OTCBB and OTC Pink® securities quoted by market makers
on the OTC Link® ATS, OTC Market Group’s interdealer quotation
and trade messaging system, OTCBB securities quoted on FINRA’s
OTCBB system and securities with no quotes that are traded in
the grey market, Broker - dealer activities in the OTC market,
including their activities on the OTC Link and the OTCBB
interdealer quotation systems are regulated by the Financial
Industry Regulatory Authority (FINRA) and the U.S. Securities
and Exchange Commission (SEC).
So the WARNING I have mentionned is referring to FINRA or SEC Rules.
It is going darker and darker....
But on 26.May there was trading despite the SEC Warning ....
It is mysterious:
I have just found on
https://www.otcmarkets.com/stock/HERB/quote
HERB
YaSheng Group
Pink No Information Logo
Common Stock SEC Reporting - Delinquent
Pink No Information
[No Information Warning] warning:
HERB
YaSheng Group
Pink No Information Logo
Common Stock SEC Reporting - Delinquent
Pink No Information
[No Information Warning]
0.2850.01 (3.64%)
Real-Time Best Bid & Ask
0.285 / 0.29 (1 x 1)Why is size 1?
Previous Close
0.275
Open
0.22
Daily Range
0.2134 - 0.285
52wk Range
0.11 - 0.50
Volume
13,295
Dividend
N/A
Average Vol (30d)
11,149
Net Dividend Yield
N/A
Trade Data Delayed 15 minutes. Trade Time 15:51:00 ET / Last Best Bid & Ask Update May 26, 2017 3:51 PM ET
Search in the listing center
https://listingcenter.nasdaq.com/GSResults.aspx?q=yasheng%20group
gave " no results" .
Research on https://www.otcmarkets.com/research/companyDirectory
gave no results for Yasheng Group
4 p.m. : Herb , and your search - yasheng+group - did not match any documents.
is unknown again ?
Today Nasdaq.com knows Ticker/Symbol Herb again ! What was going on ?
Today nasdaq.com doesn'nt know anymore the ticker/symbol nor HERB,
neither Yasheng Group ?!
Trading suspended ?
Your reply gives no answer to the questions.
1) Which assets did they buy for 324,337,031 Dollars ? They didn't
publish it.
2) If they really purchased assets for 324,337,031 Dollars, how can it be that they pubished "total assets" are only 258,325,745
Dollars in 2015,( compared to 2,480,030,368 Dollars in 2014 ?)
3) Where did the 8 9,5 8 % TOTAL assets I have mentioned; go ?
Fact 1) The swap lead to a decrease of 2,221,704,623 Dollars in
total assets means a d e c r e a s e of 8 9,5 8 % of
total assets.
Concerning the booking of intangible assets under US-GAAP see:
http://www.pwc.com/us/en/cfodirect/assets/pdf/accounting-guides/pwc-ifrs-us-gaap-similarities-and-differences-2015.pdf
point 6.16 and so on. Seems to be possible to book them like under IFRS:
RealDutch wrote :
Re: semiferrum post# 1762
"Answers related to the swap agreement you can find in here.
https://www.sec.gov/Archives/edgar/data/1123312/000119983515000565/yasheng_defm14c-16686.htm
\
They can't book the value of the swapped in management rights. They have to book them AT COST. The result is that gross margin could be as high as 70% (Almost no depreciation).
The management rights were acquired a long time ago (before the swap). They have less value today as a result of depreciation.
Ms. Wu was mistakenly removed from the BOD in the 10-K. That was all the 10-K/A amendment was about. "
--------------------------------------
"They can't book the value of the swapped in management rights. They have to book them AT COST."
This claim of RealDutch is simply false. First of all there has been no costs for the swap exempt the costs of the 2 appraisals given as 2x 250000 USD in this statement and the filing fees given as 5,307.01 USD.
Secondly when a company purchases or swaps in any assets it has to book them as assets on the balance sheet ( intangible assets) and HERB did it in the "pro forma statement " page 9, where HERB stated: "The following is the pro-forma balance sheet pertaining to the assets being swapped for the periods ended December 31, 2014, 2013, and 2012 as if we had affected the Swap for those periods."
See:
https://www.sec.gov/Archives/edgar/data/1123312/000119983515000565/yasheng_defm14c-16686.htm
In this pro-forma balance sheet HERB (filed on 4.Dec.2015 ), stated as per 31.12.14 : " Total Assets 2,454,376,988.34", the appraised value of swapped in management rights were given as: USD 2,308,149,500 in this statement and appraised value of swapped out management rights were given as 2,262,478,200 (swapped out).
2,308,149,500 (swapped in) - 2,262,478,200 (swapped out) = + 45,671,300 USD that had to be added in the balance sheet.
But as I have already shown in my previous filing total assets were given as 258,325,745 Dollars in 2015 in the 10 K/A filing on 2016-08-30.
That means that HERB has stated that between Dec. 4. 2015 (filing of Dec.4. 2015),and Dec. 31.15 (filing of Aug.-30-2016 ),so within 27 days, the value of swapped in mangement rights ( = intangible assets) has vanished nearly completly !
You can read in the filing of Dec.4. 2015), : https://www.sec.gov/Archives/edgar/data/1123312/000119983515000565/yasheng_defm14c-16686.htm
" SWAP OF BALANCE SHEETS
The Swap also includes a swap of balance sheets, meaning that GAAT is swapping out to GY its assets and liabilities related to the right to manage the seven companies who hold the land use farming rights in the properties operated by GAAT and swapping in the assets and liabilities of our sister company, GY, related to the lease management rights that are being swapped in.
SUMMARY TERM SHEET
The following is a summary of the transaction described in more detail in this Information Statement together with the cross references to the sections in the Information Statement which describe the transaction in greater detail:
Our wholly-owned subsidiary GAAT is swapping out its right to manage and operate seven companies which have the long term lease management rights to certain agricultural properties located in North West China and related assets and liabilities pertaining to such properties. See, “Description of Growing Conditions of Crops being Swapped Out”.
As a result of the swap out, GAAT also are eliminating any future revenues from the assets being swapped out. See, “YaSheng Consolidated Statement of Operations”.
In connection with the swap transaction GAAT entered into agreements to receive long-term lease management rights until 2039 of 12,633 acres of plantations which grow broccoli, moso bamboo, tangerines and waxberry. See, “Description of Farmlands being Swapped In”.As a result of the swap, GAAT will be receiving the assets and associated liabilities in connection with the farmlands being swapped in. See, “Assets Swapped In”.
As a result of the swap, GAAT will be entitled to the income from the plantations being swapped in. For information concerning the historical income and expense pertaining to the assets being swapped in, see “Statements of Income”.
The swap of assets will be a non-currency transaction executed with our sister company, GY. There will be no monetary payments made or received by GAAT or any party in connection with the swap transaction. See, “Financial Terms of Swap”."
ASSETS SWAPPED IN
The following is the pro-forma balance sheet pertaining to the assets being swapped for the periods ended December 31, 2014, 2013, and 2012 as if we had affected the Swap for those periods:
Balance sheet
$
December 31, 2014
December 31, 2013
December 31, 2012
Current assets
Cash and cash equivalent
1,482,866.49 1,627,458.65 1,695,472.15
Accounts receivable
911,732.31 793,337.21 789,059.46
Inventories
1,327,592.45 1,398,435.26 1,472,710.25
Prepayments
3,002,941.66 2,349,882.73 2,495,425.98
Deferred income tax assets
other
Total Current Assets
6,725,132.91 6,169,113.85 6,452,667.84
Non-current assets
Long-term investments
Property, plant, and equipment
10,849,479.63 9,634,761.91 7,942,054.39
Construction in progress
30,993,174.95 25,232,914.03 17,981,355.34
Intangible assets
2,405,809,200.85 2,335,606,045.70 2,197,557,811.15
Deferred income tax assets
Total Assets
2,454,376,988.34 2,376,642,835.48 2,229,933,888.72
Current Liabilities
Accounts payable
18,415.46 - -
Accrued employee compensation and benefits
63,072.13 45,707.16 42,626.82
Current maturities of long-term debt
Other current liabilities
23,940.10 12,687.10 14,434.01
Long-term Liabilities
long-term debt
Obligations under capital leases
Deferred income tax liabilities
Other non-current liabilities
Total Liabilities
105,427.68 58,394.27 57,060.84
Stockholder’s equity
Paid in on capital stock Common
2,758,620.69 2,768,620.12 2,685,546.10
Additional paid-in capital
263,135,806.50 264,089,619.31 256,165,460.19
Other comprehensive income
Retained earnings
2,188,377,133.46 2,109,726,201.78 1,971,025,821.60
Total Equity & Liabilities
2,454,376,988.34 2,376,642,835.48 2,229,933,888.72
See attached Exhibit 3 setting forth the financial statements in full pertaining to assets being swapped in."
________________________________
So however you turn it, there is obvious fraud/embezzlement
by HERB.
I recommend you to consult a physician ! I will not answer to your malicious and delusional insinuations and queries.
Thank you for the information, but as already said, as a shareholder of HERB I expect that Herb is publishing its reports on its website like any other serious company would do.
But the management of Herb is obviously not serious, as they didn't publish it.The question is: why ?
I have looked into :
10-K/A Documents [Amend] Annual report [Section 13 and 15(d), not S-K Item 405]
Acc-no: 0001654954-16-001882 (34 Act) Size: 1 MB 2016-08-30 000-31899
161860221
There are several questions concerning this filing:
1) It has been amended. What has been amended ? There is no indication about that.
2) In this filing is noticed:
"ITEM 1 - BUSINESS
Introduction
Our principal shareholders holding 90.17% of our voting power have taken action by consent without a meeting approving the swap of all of the agricultural management rights of our wholly-owned subsidiary, Gansu Asia-America Trade Co., Ltd. (“GAAT”) in return for the long-term lease management rights to the agricultural properties of our sister company, Gansu Yasheng Agro-Industrial and Commerce Group Co., Ltd. (“GY”). The swap was implemented pursuant to a Swap Agreement between GAAT and GY. Under the terms of the Swap Agreement, GAAT has transferred to GY its right to manage and operate seven companies which have the agricultural management rights, and GAAT received the agricultural long-term lease management rights held by GY referred to as the “Swap”.
So that's the strange swap, leading to the following figures:
"Results of Operations
Year Ended December 31, 2015 December 31, 2014
in Dollars
----------------------
page 48:
"Net cash provided by operating activities
(2015) (2014)
$321,031,922 (2015) $68,077,311
Net cash used in investing activities
(324,337,031) (61,920,730)
Net cash used in financing activities
2,068,428 (5,900,285)
Cash and cash equivalents at beginning of the period
11,907,242 11,337,958
Cash and cash equivalents at end of period
1,397,324 11,907,242
Net cash provided by operating activities was $321,031,922 for fiscal year 2015 as compared to $68,077,311 for fiscal year 2014. Net cash provided by operating activities was higher during the current year in relation to the prior year principally because of increases in net sales and reductions in the amount of account receivables outstanding. Net cash used in investing activities was $-324,337,031 for fiscal year 2015 as compared to $-61,920,730 in fiscal year 2014. The increase was attributed to assets purchase. Net cash used in financing activities was $2,068,428 for calendar year 2015 compared with $-5,900,285 for calendar year 2014. The increase was attributed to more debt repayment during the current year as compared to the previous year."
These figures raise questions:
1) Which assets did they buy for 324,337,031 Dollars ? They didn't
publish it.
2) If they really purchased assets for 324,337,031 Dollars, how can it be that they pubished "total assets" are only 258,325,745
Dollars in 2015,( compared to 2,480,030,368 Dollars in 2014 ?)
Fact 1) The swap lead to a decrease of 2,221,704,623 Dollars in
total assets means a d e c r e a s e of 8 9,5 8 % of
total assets.
YASHENG GROUP
CONSOLIDATED BALANCE SHEETS
page F-2
2015 2014 2013
Total Assets
258,325,745 2,480,030,368 2,350,835,925
Total Liabilities
45,766,030 58,249,587 68,536,050
Let us calculate the current ratio, an indicator of financial strength of the company defined as: total assets divided by total liabilities:
2015 2014 2013
Total Assets
258,325,745 2,480,030,368 2,350,835,925
Total Liabilities
45,766,030 58,249,587 68,536,050
Current ratio:
2015 2014 2013
5,64 42,57 34,3
Fact 2) The asset swap (and the business) led to a decrease of
86,75% of current ratio.
Fact3) This swap wasn't profitable for the shareholders and
assets of 2,221,704,623 Dollars have disappeared.
The notice of Stuttgart Exchange that trading of HERB has been suspended has been published without giving a reason.
I do not know whether the listing has been made by a so called market-maker (bank), or by HERB.
I do not see any reason why Herb couldn't publish its reports
on its homepage.
If Herb has the pockets full of money as RealDutch claims, I wonder why Herb doesn't pay a dividend ? A s a shareholder I would be glad to get some ...
Realdutch asks in another malicious insinuation whether I have lied about the German Exchange suspension of Yasheng Group in Stuttgart.
No I didn't:see:
https://www.boerse-stuttgart.de/de/boersenportal/wertpapiere-und-maerkte/aktien/factsheet/?ID_NOTATION=98886211
"YASHENG GROUP REGISTERED SHARES DL -,01 Aktie
WKN A0ETLR | ISIN US98508U1043
Portfolio Watchlist Kursblattarchiv
Aktuelle Meldungen aus dem Handel
Zeitpunkt Meldung
10.04.2017 11:14 Das Wertpapier YASHENG GROUP REGISTERED SHARES DL -,01 mit der WKN A0ETLR bzw. ISIN US98508U1043 ist derzeit vom Handel ausgesetzt.
Bitte beachten Sie, dass auf Grund der Aussetzung bestehende Orders in diesem Wert gestrichen werden. Eine erneute Ordereinstellung ist erst nach Wiedereinsetzung möglich."
1) Effectively I do not know a lot about Yasheng Group as its homepage is a disaster lacking of providing full informations about reports and swaps.
2) I have never made a website/homepage anywhere.
3) I have never been paid by anyone for any posting,Realdutch made simply a malicious insuination.
As trading of Yasheng Group was suspended on 10 April 17 on Stuttgart Exchange, the only place where these shares were traded in Germany, I have sent emails to T. Gerald Chilton, Jr.
CHILTON LAW OFFICES and to Yasheng Group by its homepage.
Last query to Chilton and query to HERB have not been answered.
So I wrote an email to Seiden Group that is investigating Deer Consumer Products actually, asking whether they will investigating Yasheng Group as well. I'm afraid Yasheng is going dark. Yesterday Nasdaq OTC quote fell by 28%.
---------------------------
info@yashengroup.com
Nachrichtentext
Ladies and Gentlemen,
as a shareholder of your Company I wonder where I may find the quaterly reports of 2016 and 2017, which are not disclosed on your Website.
Furtherly I would like to know why the trade of shares of Yashenggroup has been suspended on 10.April on Stuttgart Exchange, the only Exchange in Germany where your shares
could be traded.
---------------------
To : CHILTON LAW OFFICES
Jerry Chilton
Nachrichtentext
Dear Jerry,
as a shareholder I'm wondering what happens with the Company:
1) Since 10.April 2017 trade has been suspended in Stuttgart Stock Exchange, the only Exchange in Germany where the shares could be traded;
2) The presentation of reports on the homepage is a disaster, ( not even chronological);
3) last report is two years old, ( from 14 may 2015 (!) . is that legal ?
If you have any contact with the CEO or the CFO please advise them to fulfill the legal requirements of reporting.
Chilton answered:
--------------------------------------------------------------
I am still listed on the website of YaSheng Group that I am one of its outside counsel. I have not been advised that anything changed in that regard.
Best Regards.
T. Gerald Chilton, Jr.
CHILTON LAW OFFICES
PO Box AC
Superior, Arizona 85173
(502) 689-9000
(602) 291-5800 (cell)
-----------------------------------------
Sent: Monday, April 24, 2017 6:42 AM
To: Jerry@chiltonlaw.com
Subject: Yasheng Group
Ladies and gentlemen,
are you still the lawyer of the following company ?
Add 1: 1720 South Wolfe Road
Sunnyvale, CA 94086 U. S. A
Tel: 1650-3004494
Add 2: 21 Yanxing Rd, Yasheng Mansion 10-15
Chengguan District, Lanzhou Gansu, China
Tel: 0931-8857181
Fax: 0931-8857182
U.S. : 1650-4345632