joev2, I like you. Your posts are mostly well reasoned, and while you are mad at Longwei I don't sense you are a blind basher, just a loser on its degraded share price. I get that. I have lost on many investments, over the years. That said, overall I have done well with my market buys and sells, and learned from all of them, good and bad. But you need to acquire more experience and do more research before you make ridiculous, brash statements.
Reverse mergers are NOT a scam. Did you know that the New York Stock Exchange itself was actually a reverse merger via Archipelago and helped create the entity that is today's Euronext/NYSE? Have some reverse mergers been problematic? Yes. But most are just a cost-effective means of entering capital markets without all the very expensive and, frankly, non-productive assets shelled out to start a fresh public company... with the HUGE stipends in fees and oversubscription awards that the Morgan-Stanley's of this world use to engorge their coffers.
As for companies whose share price collapsed... my three best investments ever, were in Amazon after the tech bubble burst, Ford when the financing market collapsed and Las Vegas Sands when the discretionary economy collapsed and bribes were alleged in their entry into the Macao gaming market. I chose to go "Contrarian" in all three cases, each of which I later exited, and was able to retire early by NOT listening to the bloggers at Seeking Alpha and Motley Fool, to name a few. What I listened to was my own research and deeper diligence that the average "fast traders" ever invest in considering a stock purchase.
I have YEARS of experience with Longwei Petroleum. YEARS. And, no, I don't like everything that I both see and can't see due to late filings. But at $.07 for a stock that recently traded above $3, I want to know if I can spot some value that everyone else missed... either because I dig deeper... OR, because I figure out a real SCAM which may not at all be at the hands of the company but by MANIPULATORS that are notorious in penny/pinkie land.
It's a message board. I try not to take things personally, although I occasionally do, I admit. Similarly, Longwei is a company. It does not do everything or even many things perfectly, and this I admit and have previously stated. But that does not make them a scam. They may BE a scam, but from what I have seen to date, I doubt it.
If I decide to take a position, I will post it.
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