Bodisen Biotech Share Discussion Threads

[leighbarton] 20/3/2007 15:23

I think we need to be careful about using Bodisen to damn all Chinese companies or investments. Let's not forget Langbar or Enron. This sort of thing can happen to any country and I don't think it should be used to tar all Chinese companies or investments therefore.

Clearly however listing procedures should be looked at. Bodisen got a listing by Amex by the back door, how did this impact on regulatory scrutiny? Did the Amex listing have an impact on the secondary listing on AIM ie did it result in less scrutiny as a result? These are issues that should be addressed rapidly. In addition the Nomad should be brought before the regulators to explain their lack of scrutiny. Whilst Nomads can't be held to account for a company's trading or its share price, they should be held to account on whether the company is legitimate.

Like Va Va Voom I am surprised this share is still trading today, but at least it is giving PIs an opportunity to bail out before they lose any more.

[lefrene] 20/3/2007 15:13

As allways the small shareholders are the last to know anything. This does look like a self enrichment scheme, one would have expected the company to put out an emergency statement to reassure as to reasons for late figures and to update on trading. If this does turn out to have been nothing more than a con, then the way in which Nomads assess chinese companys needs to be made far more rigorous. An assessment that would hold advising individuals personally responsible for their advice/information, should concentrate hearts and minds.

[va va voom] 20/3/2007 14:16

Bodisen: Stk Transfers May Represent Material LiabilityLast update: 3/20/2007 12:13:40 AM(MORE TO FOLLOW) Dow Jones NewswiresMarch 20, 2007 00:13 ET (04:13 GMT)

[va va voom] 20/3/2007 13:55

Thank god, I got out at circa 250p.

Trading has been suspended in USA.

Reason for Halt - News Pending
Trading is halted pending the release of material news.

[sheeneqa] 20/3/2007 13:44

Yep unfortunately, china and nigeria should be lumped together, better sticking to western managed companies to benefit from the enormous growth in china.... Would never again buy an item on ebay from a chinese member.
Money lost but lessons learnt....

[vish65] 20/3/2007 13:21

sold all earlier this am

Learnt investment lesson of a lifetime.(and it probably would take a lifetime to get money back by holding )..

In the words of that Leeds FC Chairman Risdale form years ago "we lived the dream". And look where they are now.

Life goes on. Best to move on aswell i think. Miamisteve's point on listing may just be true

[lefrene] 20/3/2007 13:19

Sorry to see people shafted by this one, I just hope that this makes the NOMADS look very closely at other chinese stocks they have backed, or quite soon no one will want to know about chinese investments, indeed the perceived risk has made most of them very cheap already compared to UK or USA stocks.

[leighbarton] 20/3/2007 12:59

Miami - that is an interesting slant on events, and sadly one that rings true. Cimbom if Miami is correct in his analysis then I wouldn't hold too much hope for the lawsuit. There will be nothing to go after, I don't see the chinese sending over one of their star entrepreneurs (according to the release in Feb) to account for herself in front of the US courts.

It is interesting, I'll also be interested to see what AIM has to say about all this. Whilst it is a secondary listing they did have BODI up for one of their top stocks for 2006 (unless that also was bogus). I hope we don't get a tightening of rules as a result, but it would be good to see the NOMAD being held to account for their support of the stock.

[cimbom] 20/3/2007 12:51

Hi Miami,

Have you hear anymore about the lawsuit?

[miamisteve] 20/3/2007 12:49

I think the point here is that Bodisen do not want to be listed. The founders have offloaded their shares illegally and are now happy to vanish with their ill gotten gains.

Absolute disgrace.

[leighbarton] 20/3/2007 12:39

Good luck with it. I'll follow with interest.

[cimbom] 20/3/2007 12:38

Leigh my investment as far as i am concerned is as good as lost so i am prepared to hang in there as one bit of good news and this will take off.If I'm not mistaken they hae until april 17th.

[leighbarton] 20/3/2007 12:33

Cimbom, I have been thinking the same for some time, however it can get worse - you could lose the lot. It's time on AIM looks limited if it hasn't been able to maintain its AMEX listing and they must be asking questions of the NOMAD as we speak. Sometimes it's best just to move on. What hurt me is that this was in my ISA so I don't even get to offset my profits.

Still no-one to blame but myself, I knew the risks when I took the plunge and failed to take the profits when accounting issues first surfaced.

Eating alot of humble pie re the US journalist who first alerted us to potential issues. Just hope he doesn't use this to justify an all out attack on all Chinese listings.

[pictureframe] 20/3/2007 12:31

suspension looming imho .....

[lefrene] 20/3/2007 12:25

Just as well for Dylan that sounds a lot better than it reads.

[cimbom] 20/3/2007 12:24

thanks.I think I will carry on to hold then as there's not much point in me selling at the moment as the damage has already been done.

[hattori_hanzo] 20/3/2007 12:20

You must leave now, take what you need, you think will last.
But whatever you wish to keep, you'd better grab it fast.
Yonder stands your orphan with his gun,
Crying like a fire in the sun.
Look out the saints are coming through
And it's all over now, baby blue.

The highway is for gamblers, better use your sense.
Take what you have gathered from coincidence.
The empty-handed painter from your streets
Is drawing crazy patterns on your sheets.
This sky, too, is folding under you
And it's all over now, baby blue.

[pictureframe] 20/3/2007 12:18

different rules, yes it will still be listed on aim but for how long?

Sure the AIM market will start an investigation at some point. Looks bleak, suspension eventually imho

[cimbom] 20/3/2007 12:15

If this is delisted on AMEX would it still not be trading on Aim?

[pictureframe] 20/3/2007 10:36

Personally think they have been selling behind the scenes, another langbar ?

[leighbarton] 20/3/2007 10:32

Yup, looks like the US journalist who used Bodisen to bash the entire China sector was right and this was all very fishy. One suspects that shares might have been sold off behind the scenes. Ironic given the founder's recent award.

I'm out, should have got out when first sniff of accounting issues - normally my rule of thumb for a hasty exit, but stuck with this as I thought the US were being overly critical. My mistake. Good luck with those looking to come in on some sort of recovery play. Whether or not this company makes money it is now going to be dragged forever in the courts.

[pictureframe] 20/3/2007 10:27

only a fool would buy this, looks like a scam imho

In September 2005, Qiong Wang and Bo Chen made stock transfers to
individuals identified as their children. The Company also understands that
the children made substantial stock transfers shortly thereafter to persons
residing in the People's Republic of China on whose behalf the shares were held
by Ms. Wang, Mr. Chen and the children.



The Company understands that some or all of the 19 stockholders of
Bodisen International, Inc. (which, prior to the "reverse merger", was the
parent of what now is the Company's principal operating subsidiary) who received
stock in the "reverse merger" held at least a portion of such shares on behalf
of additional persons residing in China, with respect to which transfers have
not yet been made. The exact nature and extent of these interests are not yet
known, including whether they support claims against individual stockholders or,
in contrast, claims against the Company. As a result, at this time, the Company
cannot eliminate the possibility that, to the extent such interests exist and
support claims against the Company, they would constitute a material liability
or materially impact the capitalization of the Company.



As a result of the reverse merger and after giving effect to the
3-for-1 stock dividend paid in 2004, these 19 stockholders originally held of
record 12,000,000 shares of the Company's common stock, of which Ms. Wang was
the record holder of 3,748,780 shares and Mr. Chen was the record holder of
3,584,096 shares. According to the records of the Company's transfer agent,
Qiong Wang currently is record holder of 720,000 shares of the Company's common
stock and Bo Chen currently is record holder of 690,000 shares of the Company's
common stock. According to the records of the Company's transfer agent, the
children of Qiong Wang and Bo Chen currently together hold 2,639 shares