Here's an interesting idea I wanted to share.
If anyone ever wanted to profit off a Chinese reverse merger scam I think there is a chance this Q. CMCI is an obvious scam company that I have followed because when I first got into stocks I was fooled by their fake financials. I'm probably the only person in the entire world who looked at their AR, including management who i doubt speaks English. But they "announced" (read: buried in the AR) that they will take a $52m charge against earnings (vs. 28M market cap) because the CEO appears to have basically seized 40% of the company. And the remaining 60% is going to be diluted in an effort to scam Australian investors. (I tried to get the prospectus for the Australian scam but I suspect the bankers did not believe my fake email and phone number, and I'm definitely not giving them real ones). In other words the scheme seems to be falling apart and will show up on financials released at the end of this week. The market did not react, probably because it was a subsequent event and did not affect earnings last Q, and the market in this stock is entirely made up of complete idiots. There is not a big market but someone could possibly make a few 1000 or 10k dollars.
I'm sharing this because my account is too small to short this economically.
Not investment advice, be careful, do your own DD, don't invest any money you aren't willing to lose and more.
