Ripley94
03 Dec 2015
Re: Future Well concerns about cash in bank not new. What are auditors/ non exs paid for ?
TX2
02 Dec 2015
Re: Future Question.What had Naibu,Camkids & JQW in common-apart from all claiming to be making massive profits and to have huge cash balances?Answer.Their worthless accounts were all audited by Chinese division of accountants & auditors.Crowe,Clark,Whitehall LLP.
waytogo333
02 Dec 2015
Re: Future If Debenhams had closed their shops for a week throughout the country, would you keep invested? How is that different from JQW?#################################################The difference here is that it is being inferred that it was a deliberate scam from Day 1 (see TX2's post), the cash doesn't exist (or will 'disappear') and therefore there will be no return for shareholders.I stayed invested in this company because I believed the cash was audited correctly and in the bank. I suppose that time will tell and I hope that I'm pleasantly surprised.
Oxtrader
02 Dec 2015
Re: Future With all due respect, AIM is fine for trading with - It's not being to accept different perspectives and being emotionally invested into a particular share is what's to blame. Much like betting your Home football team that is sat in the regulation zone. It's a mistake every investor has made, experienced or not. I've been hit by a scandal; not that we private inventors will ever know any of the details until it actually comes to light.If Debenhams had closed their shops for a week throughout the country, would you keep invested? How is that different from JQW?
I always get it wrong
02 Dec 2015
Re: Future thanks so there might be a small glimmer as faint as it is of getting some thing as apposed to nothing now that I have resigned myself to 0 return anything from here would be a bonus.
waytogo333
02 Dec 2015
Re: Future If they take it private and the cash doesn't mysteriously disappear.......then the liquidity is the issue, unless they make an offer to existing shareholders.So a lot will depend on whether there actually is any cash.Luckily, I don't have too much invested here, but if it all goes belly up, a loss is still a loss and is yet another reminder (if one is needed) of the perils of 'investing' in AIM....
I always get it wrong
02 Dec 2015
Re: Future If the where the company is force to de-list from aim what happens to the shares that individuals still have in the company? assuming the company still has a substantial cash if auditors are correct.I know if the cash is not there than we get nothing.Has any one ever had a company that has de-listed in this way?Help full advise please as I am nursing heavy losses and It is entirely my own fault.
waytogo333
02 Dec 2015
Re: Future Sorry for the double post - responded previously on the incorrect thread!Thanks for explaining the detail. I was lulled into a false sense of security by the company cash balance (24p/share prior to website closedown), assuming that it would be there if the accounts were audited. Put the negative sentiment down to the 'bad press' around some Chinese companies who list on AIM. Could well prove quite ironic......
waytogo333
02 Dec 2015
Re: suspended. Thanks for explaining the detail.I was lulled into a false sense of security by the company cash balance (24p/share prior to website closedown), assuming that it would be there if the accounts were audited.Put the negative sentiment down to the 'bad press' around some Chinese companies who list on AIM. Could well prove quite ironic......
gutlessyogi
02 Dec 2015
suspended. HL showing it suspended at 2.7p.Total rubbish.
Ripley94
02 Dec 2015
Brokers How is it that brokers such as Beaufort and SVSwho claim to research there recommendations do not spot it is a fraud.How can the ordinary Pi research it better then they ?Any views on above brokers.
TX2
02 Dec 2015
Re: Future You are being naive!Firstly the same auditors who act for JQW have also acted for many other of the China Frauds.....Secondly the dividend paying is part of the scam.In fact the integral part without it the scam could not continue for as long as it did.The scam in these China frauds is about selling shares by parties close to the company,selling shares in a pumped up company that exists but not in the financial state claimed and in which the listed holding company has no effective control.Firstly in the IPO on the promise of generous divis they can sell a large number of shares,then the divi and the apparent high yield allows parties to sell further shares,sure it costs some money to pay a divi but far,far less than they are getting from selling the shares,as the divi is only paid to third parties(ie UK buyers of the shares).Parties connected to the company were selling shares in contravention of IPO agreements for anything they could get.This selling continues until the market can absorb no more shares.......Then the "disappearance" of the company occurs to "explain" why the squillions of pounds of cash no longer exist(which probably never existed).In Camkids case they had to buy back stock,in Naibu's case the holding company "lost" contact with its China company,in JQW's case it looks as if this claimed closure of its websites will cost it all the money it has.......Nomads and other parties in the UK will act for the companies concerned until the fees stop being paid.
waytogo333
02 Dec 2015
Re: Future Maybe I'm being naive, but surely fraudulent companies don't dish out sizeable special dividends like JQW has?Also, they have had audited accounts - wouldn't the auditors have confirmed 'cash in bank', which has been one of JQW's biggest attractions i.e how cash generative it is.?
TX2
02 Dec 2015
Re: Future JQW exists in the way that all previous "China Frauds" existed.Meaning its finances & business are not as portrayed in its balance sheet and it is also unlikely that the listed holding company has any effective financial control in its Chinese operations,as was found in the case of Naibu,sCamkids et al. Many of the same parties who have acted for JQW have also acted for other frauds.....For example if you see Abchurch Communications in any way connected to a company run a mile......While I regret that anyone has been defrauded it has to be said people have tried to warn about this and other China Frauds including a well known financial journo T W whose full name this website does not allow me to publish.
waytogo333
02 Dec 2015
Future Considering the information below, what on earth has happened to this company in a short space of time:At the end of 2014, the Group had:11 million Registered users5 million Page views per day1,046,000 Sheng-Yi-Tong members with website "shops"241,000 Fee-paying members 600 Rated in the top 600 websites for global website traffic rankings44 Sales agencies3 Top 3 in Chinese B2B website traffic rankings
