This is generally reflected early in the most recent 10-k but I don't see it shown in this case.
What I do see that makes me doubt 300 shareholders exist is the following:
CAOPU Enterprise Limited, a BVI entity (“CAOPU”), owns 86.4% of our issued and outstanding common stock. Mr. Jinliang Li, our Chairman, Chief Executive Officer and controlling stockholder, owns all of the issued and outstanding capital stock of CAOPU. CAOPU owns for the benefit and on behalf of (i) Mr. Jinliang Li, 51% of our issued and outstanding shares of our common stock, and (ii) nine (9) other stockholders, own 35.4% of our issued and outstanding shares of our common stock, which stockholders have agreed that CAOPU will hold their shares of our common stock for a period expiring 15 months from the date of the closing of a public offering of our securities. After such 15-month period, unless such 15-month period is extended by the underwriter in the offering, each minority stockholder can publicly sell its respective shares of our common stock in accordance with the any lock-up agreement that may have been entered into by each such person with the underwriter. Although Mr. Li has no pecuniary interest in the shares of our common stock owned by such 9 minority stockholders but held by CAOPU, by reason of his sole ownership of CAOPU, Mr. Li has sole voting and dispositive power over such shares of our common stock.
It's disgusting that such a small formality can wipe the little guy out. I believe that we will someday hear of someone losing it and truly disposing of a fraudster CEO.
