unfortunately, it looks like the client has defaulted and DXF has to pay out the loan.
nevertheless, they should be able to recoup most, if not all the money by taking possession of the client's assets. as per contract.
could also explain the delay in SAFE granting them permission to transfer money abroad for dividend payment. The banks probably request SAFE not to approve a transfer until DXF pay out their client's loan.
also, explain the sudden resignation of COO Wenfeng Tang, and the price drop from 40 cents to 10 cents. Probably a dispute between COO and CEO regarding the quality of the client, leadint to this loss.
nevertheless, this is only a blip. After they take possession of the client's assets all should be good again. they'll get most if their money back. unless there is a huge fall in china's property market.
people panicked and sold out too early, good opportunity for me to load up
DXF Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
