I have invested in LLEN long before the halt and did so because of the stellar reputation and experience of the BOD. Yes Mr. Lee was an over-ambitious individual who tried to cut corners and had too much control and free reign on this company. He made bad investments, Ironridge and a couple other bad deals along the way, but the forged signatures was a HUGE mistake that finally took him down. I think the value you see in LLEN, at 80 cents coming from 20 cents in 4 days is a reflection of exactly that, the CEO gone, the person that ran this one-time 10.00 stock and company right into the ground with his reckless and careless behavior.
If I may say here that I represent a group of investors and have had the opportunity to speak with management over the past 5 months and in my heart of hearts I can truly say that I do not for one second believe the ridiculous articles that Geo has put out on this company. For one I have gotten word that the Hong Xing Wash Plant is in fact operational and refurbished and went through test phase successfully and I do not believe for one moment the accusations that it is under a foot of mud and inaccessible as a new road was said to be in construction in the past 10q and with my company contact saying that the plant is operational I simply refuse to believe these lies and just point to the horrible pictures of a male and female for instance in one that are supposed to represent the Plant Manager and whom??? This is the poorest work to date I have seen them(geo) put out and think they should be stopped from doing damage to the private investors as one of their dear friends and partners, Jon Carnes is facing charges, so should they eventually.
Granted there was a time when their work was reputable and they "blew the whistle" on fraudulent companies, most in China, and good for them because I would never applaud illegal reporting of filings or fraud. But I believe that after the run Jon Carnes and Geo had in 2010, they just ran out of soft targets and low hanging fruit and also realized that what they had was an opportunity to short companies they suspected, and add to those positions as they created their "hit pieces" and then drop the articles and become wealthy as a result of their work. They then admittedly write in their columns that they hold a short position thinking that by being up front they are not liable for any statements they make. LLEN was accused in 2012 and cleared of charges that also had started in short attacks by these people, and led to the dismissal of the charges.
As the targets became harder to find they refocused their efforts on LLEN once again and accused them of claiming to own mines that they don't and again the Hong Xing Wash Plant as inoperable. I have done my own research along with my team of investors and we cannot find any proof of these claims and actually the SEC was involved in the NAZ halt and between them all they came up with after a six month investigation was a few signatures that Lee entered on the NAZ registration papers and also continued to misrepresent his brother and another female as company CFO and CEO when in fact he was running the company single handed.
Mr. Lee is in prison awaiting Court proceedings as he is seen as a flight risk, but LLEN is alive and doing business after he has resigned as requested by the SEC. I have gotten positive reports that the company remains "PROFITABLE", and the current share price does not reflect the "VALUE" there. Trading at about 1 times earnings, this is a steal IMO, and I was fortunate enough to buy shares last Tuesday ay 25 cents and I am still looking to add on any weakness.
I was told that the company will continue to file with the SEC as they are committed to, and the filings will reflect the true health of the company and the company has not revised any past filings and so with the over-ambitious Mr. Lee out of the picture I truly believe this company and the talent they have on BOD will in fact move this company forward and anyone that gets in now will be generously rewarded. In fact since Mr. Lee has resigned, there have been no further resignations by the BOD and in fact the entire BOD was in China to reassure management there that the company is healthy and moving forward and for the management to continue doing the great job that they have done and not be concerned with the resignation as LLEN is searching for a new CEO. I believe there is a lot of positive things coming soon and this stock will soon show it's true value with fraud priced out and new management priced in along with the next QTR's numbers and future business plans as outlined by new CEO and management.
