LL was founder and controlling holder of the Chinese company EONTEC, with which we have certain territorial, brand, & IP sharing agreements. Today however, LL holds only 8.7% of EONTEC shares. I suspected that State owned sovereign funds had acquired his shares at a premium so that they cold force control, and their disclosure protocol did not provide much clarity on what happened. However I have reconsidered. State owned companies today are indeed the largest shareholder, @ 28%. However, it is just as likely that this happened through issuance of new shares directly to the state owned companies, and not through purchase of LL's shares at a premium. Thus diluting LL's ownership and control up front. Or a combination of that and him selling into the market. 2/3rds of the shares are now reportedly retail shares. And LL has invested his proceeds in, well, the maize, LQMT, Yihao manufacturing. I can't prove any of this, and still believe side deals are a way of life for these folks, but maybe he has moved away from the CCP and wants to make money in real hard currency? We wait indeed.
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