The news sounds great Mr. Goodlife! And this Haorazi is clearly growing at a rapid pace with a business model and government support that should see the company do quite well.
The PROBLEM is--who or what are WE invested in? For many of us here, the question of relationships with PetroChina, ABC Bank, etc. is not really in question. What IS in question is our continued ownership in what we THOUGHT we were buying when we purchased GLCC stock.
And this is not to knock you or others' efforts to provide DD. I appreciate those efforts! But they have not acted like a first class organization to this point, and they have damaged our trust by, among other actions, repeatedly PRing what they WILL do, then turn right around and do either nothing or just the opposite of what they said they were going to do!
A perfect example of the lack of trust that now exists is their latest effort to have us believe they will be buying up the Float, or will with another large entity's help? Sounds great, doesn't it? Yet the stock continues to move down because no one is buying it. Why? Because they already tried that just last month; they spoke of cash on the balance sheet and how they would buy up the Float at these "silly" prices, etc. etc. etc...and then it now seems apparent they were diluting all along. So now, who on earth is going to accept that a real buyback is coming? Who is even accepting that they have a "real" buyout offer on the table for 10 cents per share when we cannot find out who this supposed company is that will be buying us? Speaking for myself and my group, we would have been all over this, buying like madmen, IF we believed this was for real. And IF we believed that this "buyout proposal" was coming from a reputable company with an established reputation who would not need to dilute the living heck out of whatever new stock is created in the following...say, 18 months?...just to pay the bills.
I dunno, I am holding for now only because it is down so much, I do not hold but a small position, and I frankly have an almost sick fascination with what will happen next?
Last thought is a repeat of last month: They say they are going to buyback? Great! Wonderful! Fantastic! Speaking for myself and a few others, we will be right behind THEM. No more talk Haorizi/GLCC(?)--Just DO it.
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