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14/10/20
02:30
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Originally posted by SirloinSteak:
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Auditors are not going to mistake a worthless shell for an operating clothing distribution franchisor and distributor. The issue is not actually an issue of a fake company. The issue is that the director has stopped communicating with shareholders and has alledgedly missapropriated some of the company's funds. Just because there is no website it doesnt mean the whole thing is an empty shell. We just have to wait to claim the remaining assets which could be sizeable. I would advise anyone thinking of selling to delisted.com to wait. We dont know yet how much of the cash and the companys assets can claimed from the PRC.
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Reality check. SBB was just one of hundreds of fake Chinese companies listed on foreign exchanges. They had no assets and the accounts were totally bogus. Unfortunately nobody in Australia is going to see a single cent from SBB. https://www.institutionalinvestor.com/article/b1mlyjys554sgd/They-d-Find-Fraud-Fraud-Fraud