All things considered otherwise equal, the problem with Longwei in particular, is that that Geo appears to have called it correctly. This ONE is a scam! I personally was surprised when Hrbn announced, and then DID take the company private at the said price. What has Longwei done to prove they will or even can come out from under the rubble?
What we have here, is basically silence from a company that cannot defend itself. Both Geo and the Chinese operated newscast concur with what happened (or didn't happen) with Lpih. This was once a company that DID have some sort of income, but it virtually dried up over the last couple of years. However, the company reported just the opposite, with yet another glowing pr, just a day before the exposure (if my memory serves me correctly).
Those who pushed for them, Red Chip and Seeking Alpha, both dropped them quickly after the report. Why weren't they willing to give Longwei the benefit of a doubt? In any event, they have had plenty of time to show they're anywhere near legit; yet they still haven't reported even their quarterly for Dec? Where's a report for March? And now the next quarter (yearly?) has ended as well...with NO prs about glowing business in over 6 months!!
No, Lpih is no Hrbn or Fmcn. They would more adequately be described like a Puda or Rino.
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