TODT...same structural problem as LHSI/CPDU.....
TODT, the recent China RM, has the same extremely serious structural problem that the LHSI/CPDU RM has. In both reverse mergers, the shell common shares were supposed to have undergone reverse splits prior to the issuance of shares to the merger candidates. In both cases the shell common shares never underwent a split, but the companies proceeded forward as if the split occurred.
It is puzzling to me that the consultants/companies on these deals are making this kind of mistake. And equally puzzling that there seems to be little interest on their part to get the mistake corrected. CPDU went ahead and filed an application for a Nasdaq uplisting, even though there is (or should be) a problem with the share structure. It will be somewhat disturbing if the SEC/Nasdaq just sweeps this issue under the rug during the uplisiting review process and pretends as if nothing is wrong.
The CPDU problem was a little bit harder to notice at first because the filings were somewhat more complicated. But the TODT problem is quite easy to see.
