Friday, June 01, 2018 7:27:55 PM
we took counsel - the USA head of "HERB" and the analyst for the SSE listed Yasheng and put them all in a room to discuss spinoffs of all of the underlying businesses - with China side Chinese investment bankers! we hauled them in from Hong Kong! forget the fact that the USA office is shuttered and closed, forget that the Gansu Chairman wrote a massive - massive check to the USA Yasheng CEO to "start the office" and then the money kind of disappeared over 10 years - forget that the equity analysts we engaged in China to look into this collegial relationship with HERB/YHGG and the SSE listed Yasheng all came back with the same issues, or that we went and called the auditors in Gansu for HERB/YHGG and the SSE company and spoke with those related parties to get our information - yes let's forget that because it would mean that we know what we are doing and we aren't here to gloss over past predictions of glory. reality is that the new company as listed is a sham listing. title to the assets bought by the Shandopng Group haven't transferred due to the Gansu side needing a lot of reassurance they won't be prosecuted in China for financial malfeasance. what's left over is highly questionable "audited" Chinese VIE agricultural assets of essentially unknown financial wherewithal and again - it's all tax free in China so there's almost precisely ZERO CHANCE you will ever get straight numbers. trying to seize those assets from those farmers? right.... like trying to sell a PRAWN FARM with a bunch of smoking joes in straw hats and dirty slippers.... sitting on their rocks while you bake your a** off in the sunshine just wishing you could understand what they were saying. laowai hui jia! (outsider go home)
have a great weekend. saturday AM here.
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