China Electric Motor (fka CELM)

[downsideup]

Many if not most of the Chinese RM stocks have been trading higher, or trading quite a bit differently than they were. Some have rocketed higher, from pennies back into the multi $$$ range, because the shorts have come out and admitted error in wrongly bashing them, and have gone long. Others are "different" because the SEC removed them from trading after they failed to continue filing as required...

CELM seems it's stuck in something of a no man's land between them... not yet hung out to dry by the regulators... and not yet having done much to have proved the thing isn't a complete and total scam...

They were delisted by NASDAQ in June... and they clearly do have "issues" with some problems that they've had and appear to have persisted in refusing to address.

They've not been filing... since an 8K in September... not long enough ago that that will have the SEC act based on the lack of filings to delist them... yet. The last sets of 8-K filings were about a major shuffling of personnel on the board in response to the problems... resignations of the independent directors, etc.

It's not clear if the changes on the board that were made were "a fix" or if they were defensive moves made that allowed the sources of the problems on the board and the perps in management to mount a defense of the wrongdoers.

Haven't seen anything yet that makes it clear what the scope of the problem is, either...

Some of the Chinese RM stocks have been total scams... no real operations ever existed... and all the money there was got transferred to the execs bank accounts...

CELM doesn't appear to be one of those "total scams" that has nothing and never had anything real about it. Rather, it seems they are a company that DID have a major problem, but one of a significant, but still a more limited extent...

But, then, there isn't anything available that allows you to determine IF that is true... or, if it is true, what the nature of the fix made is, what the extent of the problems were, or are, and what that means is left, now, in terms of real value for CELM holders...

It might be worth zero... like some of the other scams... where in the aggregate Chinese scammers have robbed American investors on a scale that makes Bernie Madoff look like an rank amateur...

Wars have started over less...

Or, CELM might still be worth dollars per share ?

Who can tell ?