PennyPusher786
4 weeks ago
A year and a half ago, they did the same thing. Dumped from $1+ to .05 cents... then the piece of shyte company did a Reverse Split.... 1 for 50 and went from .05 range to $2 +... then dumped to a buck, and slowly inched up to $6 a few months ago. This is a share selling, rinse & repeat Ponzy Scheme... Early investors run the share price up, bring new speculators then DUMP on them and then buy up the Bottom again or Share Offering or Reverse Split, then share offering....
And now these bafoons allowed their share price to tank nearly to the same point. Buy back some shares if your business is doing so well... liars
So I'm beginning to think perhaps it's a good thing that Nasdaq will take them off the exchange. Such a company does not deserve to be on the exchange.
China's economy may be growing, but there are still many Corporate scammers in China as much as there are in America & Canada.
I doubt Nasdaq will delist them though.
PennyPusher786
1 month ago
Shorts and competition trying to crush BAIYU HOLDINGS & make money off the downturn...
While the company is saying for fiscal year 2023:
134,558,086
commodities trading business revenue
67,981
supply chain management services revenue
For the three months ended March 31, 2024
28,089,681
commodities trading business revenue
2,466
supply chain management services revenue
For the FY 2023 and three months ended March 31, 2024
1,748,731
FY 2023 net income
1,998,802
three months net income
Renmei Ouyang, CEO of BAIYU, commented, "We are appealing the Nasdaq Staff's recent action because we believe that the Staff had not considered fully and appreciated the scope of work of the Company's dedicated management to secure these two significant opportunities. These two projects are natural extensions of the Company's bulk commodities trading business and align perfectly with our recent expansion into clean energy projects, including battery-charging stations. We are a company that lets the quality of our people, our experience and business plan speak for themselves."
In connection with the Company's announcement on August 29, 2024 of a purchase and sales contract for electric lithium batteries with a U.S.-based auto parts supplier, the Company continues to take steps to put in place the complementary and component elements of the transaction. The contract represents the official debut of the Company's proprietary lithium battery brand into the United States market, advancing its strategic positioning in the new energy sector. Separately, in connection with the Company's announcement on September 4, 2024 of the entry into a letter of intent, through one of the Company's subsidiaries with a Cairo, Egypt-based company to cooperate in the construction and operation of charging and swapping stations in Cairo, the Company also continues to take steps advancing the objective of entering into a definitive agreement. Those collaborative efforts are ongoing.
Ouyang further stated that "management's prioritization of expanding the Company's business footprint and building shareholder value should result in favorable consideration by Nasdaq in our appeal." Nevertheless, the Company acknowledges that it cannot predict the outcome of the appeal. Ouyang added that "we are committed to advancing expeditiously our efforts to maximize shareholder opportunities and value and pursue our business strategy uninterrupted."
BAIYU anticipates that its common stock will remain listed on the Nasdaq pending the outcome of the hearing and subsequent decision by a hearings panel. There can be no assurance that the panel will grant the Company's request for continued listing. Meanwhile, the Company continues to be current with its filings of periodic reports with the Securities and Exchange Commission, and expects to maintain the registration of its securities under the Securities Exchange Act of 1934, as amended. Moreover, the Nasdaq Staff's notice of determination of delisting does not affect the Company's business operations, financial position, or ability to meet all financial obligations to partners and other counterparties.
BAIYU remains committed to its diverse corporate mission with its focus on energy by continuing to develop and provide clean energy alternatives. For more information on BAIYU's ongoing initiatives and corporate developments, please visit www.baiyuglobal.com
Renee
2 months ago
BYU SEC Suspension "because of questions and concerns regarding the adequacy and accuracy of publicly available information in the marketplace concerning BAIYU and indicia of potentially manipulative trading in the securities of BAIYU effectuated through recommendations, made to investors by unknown persons via social media to purchase the securities of BAIYU, which appear to be designed to artificially inflate the price and volume of the securities of BAIYU."
BAIYU Holdings, Inc. (BYU), a holding company incorporated in Delaware
whose principal executive offices are located in Shenzhen, Guangdong, China.
https://www.sec.gov/files/litigation/suspensions/2024/34-100956.pdf
Order:
https://www.sec.gov/files/litigation/suspensions/2024/34-100956-o.pdf