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 虚实莫测洋券商--谈纽约国际证券和美国沃特财务集团 |
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海外上市并成功转板主角博迪森公司变身火药桶 -- AttorneyAtLaw - (26026 Byte) 2006-7-04 周二, 22:16 (910 reads) |
AttorneyAtLaw
头衔: 海归少将
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加入时间: 2004/10/25
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作者：AttorneyAtLaw 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
纽约国际证券的最新消息
https://www.nypost.com/business/63107.htm
STIR-FRIED STOCKS
NEW YORK FIRM IS TOUTING MURKY CHINA INVESTMENTS
May 1, 2006 -- THIS week we ask the question, "Can you really make as much money selling cow manure in China as Oracle Corp. can make, relatively speaking, selling its database software around the world?"
That's what the latest reported numbers from an obscure American Stock Exchange-listed company called Bodisen Biotech Inc. seem to show.
Yet any investor who might want to probe further would soon encounter a daunting obstacle, to say the least: Bodisen Biotech's only known address is in the city of Yangling, China.
And there's another problem, presented by the fact that the only up-to-date information on Bodisen in the U.S. comes by way of an equally obscure Wall Street investment firm called New York Global Group Inc. - the only securities firm in the U.S. with an analyst that covers the stock. And for his part, the analyst no longer seems entirely clear who the company's CEO is, or for that matter, whether it even has one.
Yet why stop there, because Bodisen is just one of three nearly identical - and equally murky - deals that all trace one way or the other to New York Global Group. All three involve companies based in China with stocks that trade in the U.S.
What's more, all three share the same obscure Los Angeles-based auditors. And all three have share prices that are trading at or near their highs in the frothy stock market for so-called "China plays," boasting a combined market value of close to $580 million.
Finally, all three have shared the same investment relations firm, whose press releases on their behalf pretty much read like copies of each other from the office Xerox machine.
In some cases, it hasn't even been necessary to change the names on the various releases because all three companies share the same type window dressing in the form of a common board member named Patrick McManus, a former mayor of Lynn, Mass.
And McManus isn't the only ex-mayor to have found late-life fulfillment as an outside director in this trio of companies on the far side of the world. There's also a longtime conservative Republican ex-mayor of Hempstead, L.I., James Arthur Garner, who serves as the head of the compensation committee for a New York Global Group creation called China Natural Gas Co.
Parting the fog surrounding New York Global Group isn't easy. Anyone watching CNBC lately might recognize the firm's name from the corporate branding commercial that New York Global has lately been running on the channel.
BUT the commercial says nothing specific about the firm itself, and New York Global's Web site is no more enlightening. Like the CNBC commercial, the site is strong on generalities but devoid of any specifics.
Yet from regulatory filings at both the Securities and Exchange Commission and the National Association of Securities Dealers comes the answer as to what New York Global's growth is really all about: The aforementioned three companies are all penny stock reverse mergers, put together by the firm as a way to attract investors looking for Chinese companies that trade in the U.S.
Many of Wall Street's best known (and shadiest) promoters have been pursuing similar schemes. Geoffrey Eiten, an ex-con who served time on a drug bust in the 1980s, is promoting a company called China Digital Communications Corp. that was formed two years ago in a reverse merger with a failed greeting card company.
Last fall, a penny stock promoter named William R. Kepler paid $65,000 in cash to a Weston, Fla., outfit called Wall Street Capital Funding for an Internet-based stock-touting campaign in the shares of a company called Linkwell Corp.
The touters described Linkwell as a "leading manufacturer and distributor of disinfectant products in China," which helped lift the company's stock price fivefold, to 75 cents per share, before collapsing back to its current price of 24 cents on the OTC Bulletin Board.
Last month, the U.S. Securities and Exchange Commission charged Kepler with running a massive nationwide stock-rigging scheme for more than two dozen other OTC stocks, though it did not name Linkwell among them.
In still other cases, the promoters have stayed well hidden. In March, a Nevada blank check company called Ringo Inc. morphed into something called America Asia Petroleum Corp. that claims to be in the business of developing shale oil fields in China.
Since then, Internet investors have been bombarded with e-mail spam hyping America Asia shares, which have soared from barely 2 cents per share to more than 25 cents before slumping back to its Friday closing price of 11 cents on the so-called pink sheets market. The issuer of the e-mail campaign remains unknown.
Meanwhile, the folks at New York Global have worked hard to distinguish themselves from the competition in this Wall Street backwater.
But in many respects, the operation is not much different from any of its rivals - from the doubtful value of the merchandise it is promoting to the ongoing struggle of the company's Chinese-born founder and controlling shareholder, Benjamin Wei, to keep both himself and the regulatory skeletons in his closet hidden from view.
In an interview for this column last week, Wei claimed to be just one of several managing directors of New York Global Group, and insisted that there was no particular reason why none of them are listed on the firm's Web site.
Yet records on file with the National Association of Securities Dealers in Washington show plainly enough that Wei is a good deal more than just another suit at the office. Wei's wife, Michaela Perlikova Wei, is listed as the owner of record of the firm. Other records suggest a pretty obvious reason why: Benjamin Wei has a disciplinary history tracing back to the start of his career in the securities industry in 1999 in Oklahoma, where he was fired from his first job at a brokerage firm called Willbanks Securities.
His offense? Refusing to tell his employer the names of clients he was servicing through an investment advisory firm on the side. For this, he was fined $5,000 and temporarily barred from the industry.
NASD records show that although Wei paid the fine, he never applied for reinstatement as an NASD-licensed member, and as such has been barred from soliciting investments from the public, or promoting securities to potential investors. And the rules also prevent him from exercising any sort of direct control over any NASD-licensed firm engaged in such activity.
In last week's interview, Wei insisted that New York Global Group had been set up specifically as a holding company, with its securities operation as a separate entity, to guarantee and preserve that very separation.
Yet it is hard to see how Wei was engaged in anything other than selling stock to potential investors when he appeared in late February on behalf of Bodisen Biotech at a micro-cap conference sponsored by Roth Capital Corp. in California and regaled a roomful of hedge fund managers and other potential investors regarding the growth opportunities awaiting Bodisen Biotech in the Chinese organic fertilizer business.
SIX weeks later, New York Global's analyst downgraded the shares in a report raising questions regarding both the company's earnings prospects and the reported resignation of the CEO, whose status remained unclear as this column went to print.
Bottom line for investors: You don't necessarily need to kick the tires on every investment. But it's nice to know that you could if you wanted to - so why even think twice about a deal from which the promoters' names have been all expunged, and the assets may amount to nothing but a mountain of cow pies somewhere in China?
Correction: In last week's column a February stock sale by Bodisen Biotech was mischaracterized as unregistered private placement when it was actually fully registered.
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作者：AttorneyAtLaw 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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