Personally, I don't think they will do a R/S.
The Pre 14-C file was an attempt to shake up weak holders who bought into the hype. There seems to be a decent bid support at .035 so my guess is that they may be slowly accumulating more and more. Think about it, if you are them what is the ultimate goal.
1. You do not buy a fully reporting shell with NO DEBT for $60k plus 9,000,000 shares. In addition, buying a fully clean shell for $60k is a) not chump change and b) I've seen other shells sell for $30k that have hundreds of $k in debt and/or non-reporting which costs money to clean up.
2) The cost of getting listed to the AMEX through a normal channel is $400k (i've seen that number around) and I'd guess upwards of $1M-$2M for NYSE or NASDAQ listing. Last, a chinese company is not here to list and sit on the pinks. They want prestige, the pinks do not do that, they want a bigger listing.
3) The round up shares is to make sure they have enough shareholders. I remember a SPAC in 2008 and the warrants were trading at a 60% discount to the shareprice as the stock was $1.00 under the warrant conversion price and it had 2 years to go. These should have been highly probable but guess what. Mr Market is efficient, the company only had 79 shareholders and therefore were in trouble about getting delisted due to having too few shareholders. That report cratered the stock. My guess is these Chinese companies are well aware of this and are sitting and making sure they have several hundred shareholders.
4) steady accumulation at $.035 and not dropping lower means someone is on the other side. As of me typing this 85k shares have traded. The Form that was filed right before Christmas said they had 20 business days IF they filed something. As of today they have not.
In my opinion there might be a reverse split but it still means your investment is the same. But I doubt it will be 1:200. Maybe 1:10 or something like that.
Best of luck to all but I am holding.
