HKBLA (0145) has been a perennial cash shell. After 3 takeovers, its
foundations now appear to be under threat as its cash pile gets depleted on
dubious transactions, including investment in Byford and an "earnest deposit". It appears to have become part of a network which
includes at least 9 other listed companies.
Orgs
People
China Public Procurement
Webb-site.com, 03-Jul-2009
In part 4 of our series on a network of companies, we cover China Public Procurement (1094) which has a long string of over-priced acquisitions from often-anonymous vendors, "earnest money" deposits for deals which don't happen, issues of unlisted warrants and shares for no obvious reason, and gaps in disclsoure. If you own this stock, get out while you can.