Boyuan Construction Group Inc fka BOY

[zoroo]

Is Boyuan Construction Group a fraud ?

Boyuan Construction Announces Completion of Private Placement

On December 5, 2019, the Company announced that it has closed a non-brokered private placement of 5,255,765 common shares at a price of C$0.31
per share for gross proceeds of C$1,629,287.

On December 31, 2019, the company announced that it has closed a non-brokered private placement of 1,100,000 common shares at a price of C$0.31 per share for gross proceeds of C$341,000.

Why would the company raise capital when in the most recent financial statements ended septembre 30, 2019, its says in the balance sheet that it has 18,267,871$ (US$) in cash and cash equivalent ?

Why is it short in cash when in the last quarter it is supposed to have made 5,765,352$ in cash flows from operation and 5,851,757$ from investing activities ?

Why does it need to dilute its shareholders capital when the financial statements show that it is flushed with money ?

Why did it deactivate its web site www.boyurangroup.com to replace it with the address www.boyuangroup.cn ?

It doesn't make sense.