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I shot Lazar a message....asking him about when we might expect to see any updates on XNNHQ. I am not confident that he will reply to me....but it was worth a try.
Agree.....I loaded up here based on the share structure alone.
Exactly. Also, for those of us who have been through reverse mergers before.....we know that they reverse split before the symbol changes. It is common sense. People who have Etrade are saying they already have all of their HGYN shares in their accounts. Ameritrade may not happen until Mon. No reverse split. I don't know what else to say to those who are still insisting R/S....LOL.
"There's so much BS on this board". LOL. Okay then, good luck.
Click the filing icon.....it says "to be reannounced". The reason it say this is because the company was notified and contacted Finra norifying them of the mistake in the earlier filing. A rescission of the reverse split had been filed a month or two ago. There will be no reverse split.
Thanks for stopping by.....hope you get filled tomorrow.
How is that prediction working out?
Read your own links. Xudong Li is a business consultant and Zhang Haosong's expertise is in mergers and acquisitions. Gee....do you think these two might be great additions to the company leading up to preparing to do a reverse merger and trade on U.S. markets?
Guaranteed....
Update your DD.....as I stated earlier, many of those other Hong Yuan companies BELONG TO Hong Yuan Holdings. That is what Holding companies do. They own companies in different sectors....all under the umbrella of Hong Yuan. Same company execs as well. Everything has been verified.
Exactly right. When I am looking for a reverse merger play....I am always looking for a low O/S, low float (heavy inside ownership) You always have a better chance of avoiding a reverse split. Like here with CERPQ....now we just go along for the ride. Investors like you and I are a small piece of the pie here.
They are not "handing over" their equity ownership. Look at their share structure https://www.otcmarkets.com/stock/CERPQ/security over 50 million common shares are already owned by the merging company insiders, leaving a paltry float of just 20 million or so to investors like me who were smart enough to buy. Furthermore, David Lazar was the former custodian here.....he has a track record for negotiating reverse mergers with China companies.
"Common sense".....really? They are registered in Nevada (like many foreign publically trading companies in the U.S.) This is their address https://www.otcmarkets.com/stock/CERPQ/profile China. The name will be changed shortly from Cereplast to Hong Yuan and symbol will also change.
LOL all of the Hong Yuan companies listed on your link page are subsidiaries of Hong Yuan Holdings. They are not different companies named Hong Yuan, but rather companies that belong to Hong Yuan Holdings under the holdings umbrella. That's what holding companies do.
Does anyone have David Lazar's contact info or has anyone tried to contact him regarding XNNHQ? It seems to me he has had XNNHQ under custodianship for a very long time.....it is probably one of his oldest shells. Either there is a problem with it, OR he is saving it for something special considering it has one of the most desirable share structures.
I am surprised we have not seen lawsuits flying already. OTC insiders and their friends/families will still be able to buy the stocks we were once allowed to buy. These rules effectively kill all custodianship/reverse merger plays as well as reinstatements.....because we will not be able to buy upon discovering the initial filings (where the money is made). They will....we won't. There have been many millionaires made from these plays in years past, but now I guess we will watch the market die.
NP.....yeah, I was disappointed too.
I was lucky enough to get all out at .035 this morning. This will only go lower. Nonsensical reverse split.
That R/S kills it.....I really thought this one (because of the low float) had a chance of escaping Lazar's track record for R/S. Unfortunate.
$VDPH Reverse split in the filing for your records
— OTCmethod.com (@KickoStocks) May 28, 2021
Here is a tutorial on how to get the filing for yourself if you want the official doc:https://t.co/AGjw0JsmvR pic.twitter.com/fUnJ1f1XD8
9 milly float....no excuse for a reverse split that high. Not impressed with the incoming company either. Lazar plays are becoming real stinkers....
In this case, I believe that the dissolution creates no ties between the former bankrupt company and any new entity merging into the shell, now under custodianship to Angela Collette.
Agree.....I think we win either way.
It is SEC amendment/rule 15c2-11.......go do some simple due dilligence. It is not just a TD Ameritrade rule. As of right now, it is CE stocks...by June-September it will be all OTC stocks that are not up to date with their current information. All stocks must be pink current. Yes, you are still buying on the expert market because the cut off date is May 25. After that date, your buy orders will be rejected. No one is going to be pleasanytly surprised by what is coming, and it will not be business as usual. The best chance we have is the SEC/OTC reversing course, but that is a long shot. From an article written by an attorney that I posted earlier....the SEC did receive a large amount of objections from OTC traders and in the end they decided to do what they wanted and pulled the trigger. They are going to kill an entire market based upon the guise of protecting a small percentage of investors that are too dumb to realize a skull and crossbones means high risk (as if these same investors will ever read filings from reporting companies).
So, this could be potentially a positive thing for custodianship/shell/reverse merger plays?
When you get a chance W2P......read this article (especially the parts about the piggyback exception and 18 month reverse merger grace period) and let me know how you interpret this. http://securities-law-blog.com/2020/09/22/the-sec-has-adopted-final-amendments-to-rule-15c2-11-major-change-for-otc-markets-companies/
Can you explain the "piggyback exception" and 18 month period that a shell company can complete a reverse merger? http://securities-law-blog.com/2020/09/22/the-sec-has-adopted-final-amendments-to-rule-15c2-11-major-change-for-otc-markets-companies/ from this article. If a shell custodian filed info about the preceeding company and the stock has shell status....does this mean that the stock/shell could still trade as pink current for 18 months until an executed merger? Or did that change since this article?
When they find a merger and go current....only then can you buy. Guess what, that is no longer a reverse merger play. That is investing in a newly trading company after it comes to market. Not the same.
So according to the OTC.....a select few of them are "experts" but the rest of us are a bunch of idiots who don't know what we are doing that need "protected" (protected from making alot of money). Got it. Reprehensible. It makes by blood boil.
Just read through this....so it looks like there was alot of push back ("an unusual amount of abundant push back", according to the article). In the end....it did'nt matter to them. The powers that be are doing what they want to do....small investor be damned. Yep....i'm afraid that the writing is on the wall.
Credit to Big Brother on G2P board for this link http://securities-law-blog.com/2020/09/22/the-sec-has-adopted-final-amendments-to-rule-15c2-11-major-change-for-otc-markets-companies/ it explains everything you need to know about what is eventually coming.
I am all for keeping a positive attitude.....but I just see no positive way to spin this. The spread is tightening.....they are severely limiting (even eliminating) your opportunities to make money, and that is NEVER a good thing.
Big Brother....I agree with everything you are saying. You are spot on. I wish that there had been more of a concerted effort among OTC traders on Twitter, IHUB and Reddit to contact the SEC and object to their proposals when they were first made (not that it would have mattered). I am afraid it may be too late to get them to change course now. Great posts.
Do you have a link to that video? I'd like to watch....
Yes....adapt to never making money on the OTC market again https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163555888 understand, once the OTC market is gone, that's it. It's never coming back. There is probably no other market where you can better leverage your money and gains, percentage wise.
These are two great posts from another board that accurately paints the big picture https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163515490 and https://investorshub.advfn.com/boards/read_msg.aspx?message_id=163496023
TDA has stated that May 25 is the effective date in which they will no longer allow buys.
Thanks for the info.....it is good to know that some individuals out there are trying. What people need to understand is that SEC amendment 15c2-11 does not stop at Caveat Emptor. Pink No Info stocks are next....and NO, that is not in any way a good thing. It will indeed kill all custodianship/reverse merger plays. Even if they relegated OTC shells to the grey market....it would not be the same. You could not accumulate shares as we once did, and that is the name of the game. They really needed to have just left the OTC alone. In my experience, there are probably just as many (if not more) people who get hurt from OTC reporting companies as non reporting shells. Those people they are trying to protect do not bother reading filings most of the time anyway. People who do not know what they are doing and should probably not be trading. A small percent of the OTC. Those are the ones they are trying to protect while hurting the rest of us. If OTC traders on Twitter, Reddit, and IHUB make a concerted effort to contact the SEC perhaps we can change something before they put the nail in the OTC coffin. Once it happens, it will be very difficult to reverse course.
Thanks. I emailed the SEC just now. We need to get more people to make this effort. I will post this link later on Twitter. I emailed the SEC when this proposal was first made. Some traders thought this would never happen and did nothing. If privileged individuals are going to get exclusive access to the stocks/shells we once profited from that they now want to take away from us "for our safety" .....this should be illegal. I hope lawsuits start flying. I wish there was more outrage on these boards.