Jerry_Jacobs1
5 years ago
SEC enforcement action request - we have questions regarding the accuracy and adequacy of information in the marketplace concerning the company. No mention of Covid-19 impact in latest filing despite the fact that it completely shut down DNJR car rental business, its only operating segment after the lending business was shut down and management arrested. New indicia of fraud requires a halt in trading
1 - arrest of top officers, the disappearance of CEO and top shareholder -https://www.sec.gov/Archives/edgar/data/1710350/000121390019021663/f6k103019_goldenbull.htm
2 - $35k in cash 1/1/20 and reported SG&A of $200k per month. No filings indicating how company has obtained operating capital. Who is paying the light bill?
3 - No filings disclosing impact of COVID-19. DNJR's only operating business since December '19 per filings is car rentals. Travel restrictions in China Jan. - April halted car rentals. DNJR could literally have zero revenue for Q1 but no mention of any material change in business mentioned in March 25 filing.
4 - Why can't DNJR file "LAST YEAR'S" financial statements by April 30? With only $35k in revenue last six months how complicated can it be?
5 - In announcing unaudited results for 2019 on March 23, 2020, why no update on QTD? Only 1 week left of the quarter. Did Covid-19 have any impact? Did the company ever locate the CEO? Has the fired board member that owns almost half of the company's stock been found yet?
6 - is company selling stock to fund operations? No filings of stock sold.
7 - Are fired CEO Zheng or board member Liu selling their stock? If you disappear and refuse to communicate with the company, do you hold your stock or sell it? And if you sell it, do you go to the office and complete the paperwork they require with each stock sale? Looks like these guys are dumping stock as fast as they can and company is not filing proper documentation with the SEC
AAAAMHIM
5 years ago
Believe it or not, Golden Bull Limited (DNJR Stock Report) is the most expensive penny stock on this list at $0.70. The company is a peer-to-peer lending company in China offering a marketplace for short term loans. A few weeks back the company received a non-compliance letter from NASDAQ for not meeting the minimum bid price of $1.
Itโs been a tough year in general for the FinTech company. Funny to think but in February, shares were trading above $13. Now, after hitting fresh 52-week lows in September, DNJR stock has slowly begun to climb back. Itโs also seen noticeably higher average daily volume this month.
On October 15, the stock saw its second-highest share volume day ever with more than 1.6 million traded. It also managed to hit highs of $0.84 before closing at $0.70. Will this China-stock make itโs way back above $1 to get back in the good graces of NASDAQ?
AAAAMHIM
5 years ago
DNJR
Quote:Since May 2019, there have been a number of borrowers who borrowed funds via our online finance marketplace platform that maliciously defaulted on their debt repayment obligations (the โ Defaulted Loans โ). As of the date of this Current Report, the total amount of Defaulted Loans on our platform is approximately RMB95,000,000 (approximately USD13,500,000). As we only facilitate loans by connecting borrowers and lenders on our platform and do not take control of funds that pass between such lenders and borrowers, we are unable to take legal action against the default borrowers or liquidate their loan collateral. Instead, the Company has been taking measures permissible under the PRC laws, including but not limited to, reporting the defaulted borrowers to regulatory authorities, having our customer service personnel to assist the lender to make collection in-person, assisting lenders to negotiate with the borrowers, assisting the lenders to take legal actions and etc. Since March 2018, the Chinese regulatory authorities have issued rules and measures limiting lender or P2P platformsโ ability to make collections, including collection with violent actions etc. Due to the delays in collecting the Defaulted Loans, a number of lenders have been visiting the Companyโs offices with threats and have caused disruptions to the Companyโs business operations. In order to avoid further disruption of the Companyโs operations while also reducing our office rental expenses, the Company decided to move its offices in late July