Jiang, Howard Qi Hang 江啟航

Para 118: "This leaves the clear impression of there being someone other than Mr Sin controlling matters on behalf of Huge Leader or Excel who is not willing to make themselves or their capacity known to the court for the purpose of these proceedings."

Pour yourself a coffee and digest this long article as we investigate several ongoing abusive "open offers" and placings as well as show you who's been making out in multi-billion-dollar bubbles. We call on regulators and rule-makers to take action.

The latest deal deserves attention from the SFC's corporate misconduct team. We also find improbably high profit margins which have now collapsed, a big receivables problem, and two changes of board, the latest after a character from our 2012 "Raking Muck" series reappears.

Para 4: "[Hung Ka Leung] is a business man who has been investing in the property and stock market in Hong Kong. He comes from a well-off family and his father is a person of influence in Xiamen, China."

Concluding our hexalogy, we look at a recent deal by COMG (0254). Existing shareholders were diluted to 2.54% in an acquisition valued at HK$1242m for a business which would need capital of HK$3.6m. We estimate that the vendor has already cashed in about $1812m by selling convertible bonds and shares. We also look at what comes next for COMG, and some unfinished business for the authorities.

Of which HK$13m in 100m shares @$0.13 (34.3% discount) and HK$1229m in 0% convertible bonds convertible @$0.13. The target had net liabilities of $9,000 at 31-Dec-2009. The PRC Company was set up on 11-Apr-2008 and had net assets of HK$1.93m at 31-Dec-2009 and 1 employee. Neither has commenced business.