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gemtrader1

01/10/13 1:27 PM

#328 RE: Cobra Kai #327

Hi to all.I will apologise beforehand for the length of this post.I am responding to this as it is the last post on this board.I have often checked here and most of the comments and information has always been helpful.I thought i would post regarding CHCC as my way of thanking all of the posters here for their sharing of information.As for CHCC,my thoughts are these.Firstly,the company has gone dark,which now allows for no requirement of any filings or information to their shareholders.Although i have no proof,my belief is all of the assets have been pirated to the benefit of the management of the CHCC for little or no consideration and have been moved into a new private chinese company owned by the former management of CHCC.The former management discovered a simplier way to gain control of the assets,go dark and beat all of the US shareholders.The supposed lawsuit against Pamco is in all probability not filed in China as the entity Pamco,is not a Chinese corporation and its principal operative,James Poe,aka Po Sun Liu is not a Chinese citizen but rather a citizen of Canada.I suspect Pamco is nothing more than a conduit to have received the shares and funds paid for the consulting services Poe supposedly provided to CHCC.In my opinion there will be no recovery of either the funds or the money paid as the entity(Pamco) is probably domiciled in either BVI,Cayman or The Bahamas and said funds and shares have long since been used to support Mr.Poe's lifestyle.Mr.Poe is banned from any involvement in the US securities business along with his wife or ex wife Paula.Interesting reading regarding the Poe family can be found looking at two of his prior pubco involvements,Pan Asia Mining and Terra Nostra Resources Corp.To wind this up,i believe all here is lost and the lesson to be taken from this should be most Chinese reverse merger companies are not transparent,good investments but rather opportunities for traders to make money riding them up or shorting them to oblivion.Again these are just my thoughts and thank so many of you for your insightful posts.