BBC -- Another Story from the Chinese Press
Full Story: chinabusinesspost.net
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Date : 2005-12-02 domestic public shareholders, Bodisen is to buy shares of stock. These stocks in the United States law is not recognized as a foreign market and the success of the conversion of the classic cases where the protagonist plate Bodisen Biotechnology Ltd. Now it seems like a dangerous tinderbox. Buy agricultural technology Yangling Demonstration Zone, which is situated in the February 27, 2004 report to the SEC 8K document, August 31, 2001 established the Yangling Bodisen Biotechnology Development Corporation (Yang Ling Bodisen Biology Science and Technology Development Company Limited. In this paper referred to as "the BBST"), registered to China. To achieve overseas listing. on November 19, 2003 in the U.S. state of Delaware incorporated Bodisen (Bodisen International). This company is set up to facilitate the listing of shell companies. In February 2004, the United States completed Bodisen OTCBB shell companies and the exchangeable, Bodisen Biotech.Inc listed companies were renamed (Bodisen Biotechnology Limited). In the meantime, Bodisen and Yangling Bodisen Biotechnology Development Limited (BBST) in the December 15, 2003 agreement signed convertible. Bodisen shares gained BBST 100%, and domestic business entities listed companies completed a reverse acquisition. (Chart) else in the shareholding structure. Notice shows BBST Yangling Development Zone in Shaanxi Province is located in an operating entity of the company. However, in Shaanxi Yangling. still others Qiong Wang, chairman of a listed company controlled by the Yangling Bodisen Biotechnology Development Co., Ltd. (Bodisen shares). This is a Yangling Bodisen in China use the company name, the company is a real entity operating companies. Thus, problems have emerged, according to the actual operating entity of the Chinese company, a limited liability company. also set up in August 31, 2001, and the Shaanxi Provincial Administration of Industry and Commerce for registration. According to Article 147 of the Companies Act, Inc. sponsors of the shares in the company three years shall not be transferable. So, in terms of law, The Company and the operating entity is not able to do offshore companies Bodisen convertible transactions. Shareholders of unnecessary restrictions and limited liability companies, to be transferred to third parties only after the consent of a majority of shareholders. Listed in order to ensure rapid success of the international operation in New York, from the legal, The operating entity became a limited liability company, the BBST notice. thus successfully listed in a short time and the success or board, 1:00 Chuan for ages. China's current framework of the company, a company that was not registered as joint-stock companies and limited liability companies. Because a company is only one legal personality, and not allowed to have more than two legal personality. Unless a company set up a subsidiary company, established as a limited liability company controlled by a limited liability company. Bodisen shares on playing this game BBST only 19 shareholders, From a legal point of view has been limited liability company, business is the operating entity. And China's actual operating entities Yangling Bodisen shares, in law as BBST subsidiaries. Tinderbox in Shaanxi Yangling, stock holders Bodisen many people, it is estimated that about 2,000 people. 8K in the United States submitted to the SEC documents consolidated financial statements, there is no minority interests subjects Information disclosed significant accounting errors. Only shareholders of listed companies such as Bodisen Qiong Wang, 19, and 100% of the shareholding structure are held, so Wang Qiong others should be judged by some private agreements on behalf of other public shareholders holding shares to become a limited liability company. These public shareholders, Bodisen is to buy shares of stock. These stocks in the United States are not recognized by law. American law recognizes only BBST stocks. Now, the semi-primary market in Shaanxi, there is still a lot of Bodisen shares traded. Semi-primary market transactions in the shares of listed companies are not listed companies and the stock market circulation. Bodisen has now successfully listed in the United States or board, in March this year, has begun to shareholders over the ban period, but prices are now high, November 24 stocks closed 8.92 U.S. dollars per share, if successful realization of the stock market in the United States, These transactions would not have happened. In connection Qiong Wang, staff claiming illness can be interviewed. The Wang Qiong, is sitting on the powder keg. The shareholders are not honored those stocks held accountable. Seeing is bitter and Wang Qiong.
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