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Non-Tech : Dawson Science (DWSC)
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To: Bob Burnham who wrote (222)5/31/1997 12:55:00 AM
From: sam   of 397
 
Just read a news in Chinese news group. One of the largest software companies went bankrupt. It was such a a good tale which refelecting what DWSC is doing. The company started several years ago by a young man who wrote software in his spare time in College. He marketed his softwar so well which made him millions in 3 years. Dream started piled up. He was mentioned by Chinese media as "Bill Gates in China",
the prime minister praised his company and their products. Last year, he went around to raise fund for getting into other business. He had scheduled projects in real estate, healthcare and food production. Many people invested their life time savings. The young CEO went to Hongkong to raise more money this year. He promised a return of 80% in next three years. several months later, his company started to bleed in cash. The real estate is unfinished since he no longer been able to borrow money to pay off the old loans. He was left with nothing at all but tons of debt and day to day angry face from debt holders. He blames his subordinators about unethical accounting practice as if he knew nothing. He further delighted public with an explaination that his disappeared CFO embazzled some fund from his company:)
Now he is broke and under government investigation.

Sounds like a novel? It is a true story not long ago in China. And I heard the same type of stories from China again and again.

Buyer be aware!!!
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