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Puda Coal Inc (CE)

Puda Coal Inc (CE) (PUDA)

0.000001
0.00
(0.00%)
Closed April 19 4:00PM

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Key stats and details

Current Price
0.000001
Bid
0.00
Ask
0.00
Volume
-
0.00 Day's Range 0.00
0.000001 52 Week Range 0.007
Previous Close
0.000001
Open
-
Last Trade
Last Trade Time
Average Volume (3m)
8,542
Financial Volume
-
VWAP
-

PUDA Latest News

No news to show yet.
PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10000000CS
4001.0E-61.0E-61.0E-61001.0E-6CS
12-9.9E-5-990.00010.00011.0E-685424.538E-5CS
26-9.9E-5-990.00010.00011.0E-634325.859E-5CS
52-9.9E-5-990.00010.0071.0E-634539.055E-5CS
156-0.003099-99.96774193550.00310.0081.0E-6131680.00039891CS
260-9.0E-6-901.0E-50.011.0E-6131940.00070854CS

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PUDA Discussion

View Posts
I-Man I-Man 4 years ago
What Golden cross!!?? PUDA does not exist any more for some years. it was a scam on its Investors everywhere. Ruined many people globally who invested into their "fake mining" company... China can go Fk itself for all I care about. And their Wal-Mart children "intermediaries" who allowed them to take advantage of US consumers so long, selling out their own fathers' enterprise and company.

You want a great risk/reward and of an established US coal company, I urge you to look into FELPU right now. Foresight Energy and do some DD on past 6 moths' events alone...
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Golden Cross Golden Cross 4 years ago
$PUDA Tier_Change: Grey to Expert Market

OTCM Link
https://www.otcmarkets.com/stock/PUDA/disclosure
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I-Man I-Man 6 years ago
Sad situation here. Go to Yahoo Finance and read from those who finally received final compensation from the long going legal mess against PUDA and the Chinese scam it was. Sure fkng lawyers made $millions... I mean folks who lost $600K-700K and receive maybe $300.00 total back for compensatory damages, and limited to what they can write off on IRS filings annually, and a few it will have to carry over after they die actually. Damn fkng bad thing here indeed to US investors.

I used to own PUDA stock many years ago for a while, but sold what I had when it was evident something gone wrong with BOD... And another similar was CHFR (China Fruit Company) who actually had many franchised locations too and all of those franchisees, as well as investors lost everything invested (including myself) as right when their CEO announced after an earnings call once, he was in talks with Ali Baba Group (BABA) to promote further into US market then... Shortly thereafter he disappeared with all the company's funds and was later found, jailed, and "died" in his prison cell. Money still never recovered...
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Haddie Haddie 7 years ago
Then a doornail
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Loco-USA Loco-USA 7 years ago
So what's going on with this stock. Dead?
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scion scion 9 years ago
SEC complaint

http://www.sec.gov/litigation/complaints/2015/comp-pr2015-51.pdf

SEC Charges New York-Based Brokerage Firm With Faulty Underwriting of Public Offering by China-Based Company

FOR IMMEDIATE RELEASE
2015-51
Washington D.C., March 27, 2015 — The Securities and Exchange Commission today announced charges against a New York-based brokerage firm responsible for underwriting a public offering despite obtaining a due diligence report indicating that the China-based company’s offering materials contained false information.

[...]
More
http://www.sec.gov/news/pressrelease/2015-51.html#.VRlQ2vzF9Gs
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Renee Renee 9 years ago
March 27,2015: SEC Charges New York-Based Brokerage Firm With Faulty Underwriting of Public Offering by China-Based Company

http://www.sec.gov/news/pressrelease/2015-51.html#.VRlQ2vzF9Gs

Washington D.C., March 27, 2015 — The Securities and Exchange Commission today announced charges against a New York-based brokerage firm responsible for underwriting a public offering despite obtaining a due diligence report indicating that the China-based company’s offering materials contained false information.

Macquarie Capital (USA) Inc., a wholly owned subsidiary of global financial services firm Macquarie Group Limited, has agreed to settle the SEC’s charges by paying $15 million and separately covering the costs of setting up a Fair Fund to compensate investors who suffered losses after purchasing shares in the public offering by Puda Coal. The SEC previously charged the Puda Coal executives behind the offering fraud at the company, which is no longer in business.

“Underwriters are critical gatekeepers who are relied upon by the investing public to ferret out the essential facts and address potential inaccuracies before marketing a public stock offering,” said Andrew M. Calamari, Director of the SEC’s New York Regional Office. “Macquarie Capital proceeded with this offering despite a due diligence process that exposed a false claim by Puda Coal, and investors suffered massive losses when the truth publicly came to light.”

The SEC also charged former Macquarie Capital managing director Aaron Black and former investment banker William Fang for failing to exercise appropriate care in their due diligence review. Black agreed to pay $212,711 and Fang agreed to pay $35,000 to settle the charges.

According to the SEC’s complaint filed in federal court in Manhattan, Macquarie Capital was the lead underwriter on a secondary public stock offering in 2010 by Puda Coal, which traded on the New York Stock Exchange at the time and purported to own a coal company in the People’s Republic of China (PRC). In the offering documents, Puda Coal falsely told investors that it held a 90-percent ownership stake in the Chinese coal company. Macquarie Capital repeated those statements in its marketing materials for the offering despite obtaining a report from Kroll showing that Puda Coal did not own any part of the coal company. According to corporate registry filings in the PRC that Kroll accessed in its due diligence review, Puda Coal’s chairman had transferred ownership of the coal company to himself and then sold nearly half of his interest to the largest state-owned investment firm in the PRC. As a result, Puda Coal no longer had any ownership stake or source of revenue.

According to the SEC’s complaint, Kroll provided its report to Fang, who read it but failed to act on the information revealing that Puda Coal no longer owned the coal company. Instead, Fang circulated the report to other members of the Puda Coal deal team and stated in the e-mail that “no red flags were identified.” Black, who served as one of the transaction directors on the Puda Coal deal, received the report from Fang and read portions stating that Puda Coal’s chairman owned 50 percent of the coal company of which Puda Coal was claiming to own 90 percent. Black likewise failed to act on the information.

The SEC alleges that Macquarie Capital made a net profit of $4.17 million as lead underwriter on the Puda Coal offering, which sold stock to investors at a price of $12 per share. When reports about Puda Coal’s false claim appeared on the Internet based on the same PRC filings that Kroll Associates accessed for its report, Puda Coal’s stock price plunged as low as pennies per share.

The SEC’s complaint charges Macquarie Capital, Black, and Fang with violating Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933. They agreed to settle the charges and accept permanent injunctions without admitting or denying the allegations. The settlement is subject to court approval. In addition to the monetary penalties, Black has agreed to be barred from supervisory positions in the securities industry and Fang has agreed to be barred from the securities industry, both for at least five years.

The SEC’s investigation was conducted by Charu A. Chandrasekhar, George N. Stepaniuk, David Stoelting, and Sheldon Pollock of the SEC’s New York Regional Office. The case was supervised by Sanjay Wadhwa.
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EmptyBones EmptyBones 9 years ago
Change name to "LUMP OF COAL" instead of puda lol.........
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harley3296 harley3296 9 years ago
1100%. Whatttt???? Only 49,000 trades . So if I put in 1.00 ,I would walk away with $1100.00. Yeah , something's no right
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tinmanih tinmanih 11 years ago
Trading Penny Stocks for Dummies:

Put it all on black.
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Stockslayr Stockslayr 11 years ago
If this is true why is it still trading?
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Andrew21330 Andrew21330 12 years ago
Someone tell me smn about this stock.
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scion scion 12 years ago
SEC: China-based coal mining company Puda an empty shell, defrauded investors

By David S. Hilzenrath, Published: February 22
http://www.washingtonpost.com/business/economy/sec-china-based-coal-mining-company-puda-an-empty-shell-defrauded-investors/2012/02/22/gIQAw2YCUR_story.html

Through stock offerings in the United States, investors poured $115 million into a China-based coal mining company that was actually an empty shell, the Securities and Exchange Commission said Wednesday.

Executives of Puda Coal duped investors by failing to disclose that the company no longer owned the mining operation that had been its only source of revenue, the SEC said. The chairman of the company, Ming Zhao, had transferred that to himself, the agency alleged.

The case reflects broader concerns by regulators about companies based in China but selling stock in the United States.

The SEC said it has revoked the U.S. securities registrations of at least a dozen such companies and is assessing whether to take similar action against another 27.

In September, the agency asked a federal court to enforce a subpoena against Deloitte Touche Tohmatsu CPA, a Shanghai-based accounting firm that had audited Longtop Financial Technologies. Longtop, whose main offices are in Hong Kong and China, was under investigation by the SEC for possible fraud, the agency said in a court filing.

A recurring question is how well investors can rely on Chinese companies’ financial reports — and the firms that audit them.

U.S. corporations provide plenty of fodder for the SEC. Many companies based here have cooked their books without a public peep from their auditors.

But regulators have been especially concerned about Chinese companies that tap the U.S. financial markets through a backdoor route known as a reverse merger. By buying small or dormant U.S. companies already listed on the stock markets, they have been able to bypass the ordinary vetting process for companies seeking to sell shares in the United States for the first time.

The Public Company Accounting Oversight Board, which regulates auditors of companies traded in the United States, issued an alert about reverse-merger companies in 2010. The board has warned that it is unable to inspect audit firms based in China.

Puda Coal entered the U.S. capital markets through a reverse merger in 2005 and went on to trade on the New York Stock Exchange, the SEC said. The company’s main asset was a 90 percent stake in a Chinese coal mining company called Shanxi Coal. But in 2009, Zhao, Puda’s chairman, “caused” that stake to be transferred to him, the SEC said.

Then, Zhao sold almost half of it to Citic Trust, which is controlled by a state-owned investment firm in China, the SEC said. While Citic was selling interests in Shanxi Coal to Chinese investors, the SEC said, Puda executives were telling U.S. investors that Puda owned 90 percent of it.

The SEC filed fraud charges against Zhao and Liping Zhu, Puda’s former chief executive.

Even as the SEC was investigating, the two continued the fraud, the SEC said. Zhu forged a letter, purportedly from Citic, stating that Citic claimed no ownership of Shanxi Coal, the agency said. An attorney for Zhao provided the letter to the SEC, the SEC said.

As a result of the fraud, hundreds of millions of dollars of shareholder wealth has been wiped out, the SEC said.

In August, Puda Coal filed a report with the SEC saying its audit committee had investigated and found that Zhao in 2009 arranged for a 90 percent interest in Shanxi Coal to be transferred to himself.

The SEC said it knew of no defense lawyers representing Zhao or Zhu.

Crocker Coulson, who handles investor relations for Puda Coal in the United States, said the company’s independent directors had no comment on the SEC’s action.

http://www.washingtonpost.com/business/economy/sec-china-based-coal-mining-company-puda-an-empty-shell-defrauded-investors/2012/02/22/gIQAw2YCUR_story.html
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jims406ss jims406ss 12 years ago
http://www.sec.gov/news/press/2012/2012-31.htm
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scion scion 12 years ago
SEC Charges China-Based Executives with Securities Fraud

FOR IMMEDIATE RELEASE
2012-31

Washington, D.C., Feb. 22, 2012 — The Securities and Exchange Commission today charged two China-based executives with defrauding investors into believing they were investing in a Chinese coal business when in fact they were investing in an empty shell company.

Additional Materials
SEC Complaint
http://www.sec.gov/litigation/complaints/2012/comp-pr2012-31.pdf

The SEC alleges that Puda Coal Inc.’s chairman Ming Zhao schemed with former CEO Liping Zhu to steal and sell Puda Coal’s sole revenue-producing asset, a coal mining company named Shanxi Puda Coal Group. Zhao secretly transferred Puda Coal’s controlling interest in Shanxi Coal to himself and then sold a substantial portion to a fund controlled by what is reported to be China’s largest state-owned financial firm. The scheme enabled Zhao rather than Puda Coal’s public shareholders to profit from a lucrative business opportunity.

The SEC alleges that Zhao and Zhu failed to disclose these transactions in Puda Coal’s periodic reports to the SEC, and continued to raise funds from U.S. investors by conducting two public offerings to purportedly raise capital to enable Shanxi Coal to acquire coal mines. Unbeknownst to investors, Puda Coal no longer had an ownership stake in that company after Zhao’s secret maneuvers. After the SEC began investigating, Zhao and Zhu further schemed to forge a letter from the Chinese financial firm purporting that Puda Coal investors weren’t harmed by the asset transfers. In reality, the scheme left Puda Coal as a shell company with no ongoing business operations.

“Zhao and Zhu duped investors with promises that their money would be invested in a Chinese coal company when in fact the company was an empty shell that had been looted by the defendants,” said Robert Khuzami, Director of the SEC’s Division of Enforcement. “This enforcement action reflects our continuing commitment to hold accountable officers and directors of issuers who misuse their access to the U.S. capital markets to commit fraud for personal gain.”

George S. Canellos, Director of the SEC’s New York Regional Office, added, “The massive fraud perpetrated by Zhao and Zhu wiped out hundreds of millions of dollars in shareholder value and was compounded by their brazen obstruction of the SEC’s investigation.”

According to the SEC’s complaint filed in U.S. District Court for the Southern District of New York, Puda Coal entered the U.S. capital markets through a reverse merger in July 2005. Puda Coal’s common stock was listed and traded on the NYSE from September 2009 to August 2011.

The SEC alleges that Zhao embarked on the scheme with Zhu in September 2009 to enrich himself at the expense of Puda Coal’s public shareholders. Just weeks before Puda Coal announced that Shanxi Coal had received a highly lucrative mandate from the provincial government authorities to become a consolidator of smaller coal mining companies, Zhao quietly transferred Puda Coal’s 90 percent stake in Shanxi Coal to himself. In July 2010, Zhao transferred a 49 percent equity interest in Shanxi Coal to CITIC Trust Co Ltd., a Chinese private equity fund controlled by state-owned investment firm CITIC Group. CITIC Trust placed its 49 percent stake in Shanxi Coal in a trust and then sold interests in the trust to Chinese investors. Zhao caused Shanxi Coal to pledge 51 percent of its assets to CITIC Trust as collateral for a loan of RMB 3.5 billion ($516 million in U.S. dollars) from the trust to Shanxi Coal. In exchange, CITIC Trust gave Zhao 1.212 billion preferred shares in the trust.

According to the SEC’s complaint, the transactions were not approved by Puda Coal’s board or shareholders and not disclosed in Puda Coal’s SEC filings, which Zhao and Zhu signed knowing that they were materially false and misleading. During the two Puda Coal public offerings in 2010, CITIC Trust was separately selling interests in Shanxi Coal to Chinese investors while Zhao and Zhu were still telling U.S. investors that Puda Coal owned a 90 percent stake in that company.

The SEC further alleges that Zhao and Zhu continued their fraudulent scheme to deceive public investors even after the SEC began its investigation. Zhu forged a letter purportedly from CITIC Trust falsely stating that no funds had actually been loaned to Shanxi Coal and disclaiming any interest in Puda Coal’s or Shanxi Coal’s assets. Zhao’s counsel provided the forged letter to the SEC’s investigative staff and Puda’s audit committee. After Puda Coal disclosed the letter in an SEC filing and further misled shareholders about the ownership of Puda Coal’s assets, Zhu admitted forging the letter and resigned as CEO. Zhao remains the chairman.

Zhao and Zhu are charged with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5, as well as violating the proxy solicitation rules and various corporate reporting, recordkeeping and internal controls provisions of the Exchange Act. The SEC’s complaint seeks a final judgment ordering Zhao and Zhu to disgorge their ill-gotten gains plus prejudgment interest, imposing financial penalties, barring them from acting as officers or directors of a public company, and permanently enjoining them from committing future violations of these provisions.

The SEC’s investigation, which is continuing, has been conducted by Sheldon Pollock, Scott York and George Stepaniuk of the SEC’s New York Regional Office with investigative support from Neil Hendelman and Desiree Marmita. The SEC’s Cross Border Working Group, which has representatives from each of the SEC’s major divisions and offices and focuses on U.S. companies with substantial foreign operations, has assisted the New York Regional Office enforcement staff in the investigation.

* * *

Over the past year, the SEC has moved to protect U.S. investors in U.S. companies with substantial foreign operations through:
Trading suspensions of at least 20 U.S. issuers based abroad.

Stop orders against two U.S. issuers based abroad to prevent further stock sales under materially misleading and deficient offering documents.

Filing a subpoena enforcement action against a foreign-based audit firm to obtain documents.

In addition, the SEC has revoked the securities registration of at least a dozen U.S. issuers based in the People’s Republic of China and instituted administrative proceedings to determine whether to suspend or revoke the registrations of 27 more issuers.

# # #

For more information about this enforcement action, contact:

George S. Canellos
Director, New York Regional Office
(212) 336-1020

David Rosenfeld
Associate Director, New York Regional Office
(212) 336-0153

George N. Stepaniuk
Assistant Director, New York Regional Office
(212) 336-0173



http://www.sec.gov/news/press/2012/2012-31.htm
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Deadeye74 Deadeye74 12 years ago
Ok, and what is now your oppinion? Is it worth to buy now?
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tatrader11 tatrader11 12 years ago
This is a perfect example of why I stated play moves, take profits. I made good money trading this stock using TA and got flogged every time I sold shares by novice who attacked and said I was taking pennies and mising dollars.

I traded this stock in the $4 to $1o range for about 6 months and left BEFORE the last run to $15 from $7.

As are many stocks it was a great play for a short period of time and those using TA skills made great coin why the emotional players, well lets just say they are still holding and hoping.

Hopefully some learned from this painful lesson.
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zetti zetti 12 years ago
0,80!

puda
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nsomniyak nsomniyak 13 years ago
PUDA CEO resigns
http://finance.yahoo.com/news/Puda-Coal-Received-a-prnews-4098364914.html?x=0&.v=1
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nsomniyak nsomniyak 13 years ago
8-K filed by PUDA

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7802280
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Our-Street Our-Street 13 years ago
Grey Market Trading Tips - I wrote an article revealing some valuable trading tips that will apply when the market reopens on PUDA.

http://our-street.com/2010/12/17/sec-suspends-supatcha-resources-investors-consider-grey-market-options/

I have witnessed scores of companies kicked down to the pinks and there are some trends that, if you know them, can help.

The article was written about Supatcha Resources but the trends apply to pretty much all grey market entries.

GLTA
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itri4life46 itri4life46 13 years ago
Yahoo Puda Board back up and running.... http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_P/messagesview?bn=134662
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jout jout 13 years ago
There you go Hindsight trading again about what "smart investors/traders" would do with an unpredictable SEC move... It does feel good to blame the ignorant, you and the SEC go hand in hand.

They had four months to put them on grey sheets, they opened two days and changed their mind, and you're acting like this was a predictable move?? Nothing fundamentally changed since the first halt.. LOL... Even good stocks can get hit with these weird type of situations... you CAN'T predict it! Truly "smart" investors would have been out Way before the FIRST halt with a stop loss. Do you really think there were "smart" investors in this when it first halted?? LOL... Buddy, take the advice of not opening your mouth before thinking...

Since you don't seem to read well, again, I wrote this off as a total loss. Meaning, anything I get out of this is will make me happy... "good luck on grey sheets" pfffffft wooOOOoo... You are hilarious!!

To my dearest standintall "I trade, I trade, and I trade around you again."
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standintall standintall 13 years ago
I agree that no one expected that this stock would be re-halted. However smart "investors" should have been thinking "this is in the SEC's cross hairs and it's not a stock I need to own. I better sell now and move on" while smart day traders played the rebound then closed out their position before the market closed... always the prudent thing to do. And since there were investors who DID sell and day traders who DID close out their position before the end of the trading day, that either puts them into a "smarter investor/trader" or "Luckier investor/trader"

I do agree also that, as a bagholder, it feels better to not blame oneself for making the wrong decision and costing oneself some money but then, one doesn't learn much that way either. Good luck with your position when the stock re-opens on the grey market.
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jout jout 13 years ago
Wow, I am a proud baggholder, and since the SEC isn't answering, It looks like your ignorant comment just lined up for the brunt of my misfortune..

Tell me the last time the SEC not only unhalted and rehalted in two days, but also for the same reason they halted in the first place?...

Exactly... Not one person when trading this was thinking, "this is gonna halt".. At best, this would be reshorted, or the bounce players would profit take... The odds of a re-halt are ridiculous. Dude, think, or at least have a firm grasp of the situation, before you puke words all over the internet.

Btw, this (I'm taking it as a total loss) didn't "thin" me out because of my money management, so I'll happily continue to separate/trade money from your kind for years to come.

Quit hindsight trading buddy!
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standintall standintall 13 years ago
Because the stock has once again been suspended by the SEC. when it reopens it will be on the Grey Market

http://sec.gov/litigation/suspensions/2011/34-65178.pdf

The Commission temporarily suspended trading in the securities of Puda because of a lack of current and accurate information about the company. Specifically, (1) Puda’s auditors resigned on July 7, 2011 and stated that further reliance should no longer be placed on its previously issued audit reports dated March 31, 2010 and March 16, 2011; and (2) the Audit Committee of Puda’s Board of Directors has announced that it has preliminarily concluded that evidence supports the allegation that there were transfers by Puda’s Chairman in subsidiary ownership that were inconsistent with disclosure made by the Company in its public securities filings. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (“Exchange Act”).
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nsomniyak nsomniyak 13 years ago
PUDA has been halted again
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simsim77 simsim77 13 years ago
Why there is no trading her today
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standintall standintall 13 years ago
Don't feel bad for anyone left holding the bag. They all had a chance to exit and all the reason to they needed on Friday and still chose not to. Today the herd just got thinned a bit culling out the weakest ones... that's all.
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Stoquer1 Stoquer1 13 years ago
I am fortunate I sold friday afternoon $3.03, didnt want to hold over the weekend. Had 2200.00 in profit Thursday and ended up with only 630.00, but profit is always good. You cant lose if you take a profit.
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Nebuchadnezzar Nebuchadnezzar 13 years ago
what a circus act

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TheFinalCD TheFinalCD 13 years ago
Im shocked that it was suspended again, Fridays close was looking so good, then people got the rug pulled out from under them...

im sure SEC insider's let their buddies know, hey if your in this LONG better exit, and if you are short, just hold on


Who ever shorted this in the $10-$20 range and didnt cover must be stoked, meanwhile the longs and day traders that got caught in the 2nd suspension, will have to suffer through a very bad situation!

http://www.thestreet.com/story/10952277/sec-probes-china-stock-fraud-network.html

I feel bad for anyones lo$$ in PUDA


These China Stocks are becoming Notorious for FRAUD

Muddy Waters and Citron must be making Millions off their debacles

http://www.muddywatersresearch.com/


http://citronresearch.com/
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TheFinalCD TheFinalCD 13 years ago
Will open Sept 1 on the "Grey Market"


Grey Market securities do not have bid or ask quotations in Pink OTC's system or the OTCBB. Due to the lack of pre-trade data, Grey Market securities tend to be relatively illiquid. Broker-dealers must report Grey Market trades to FINRA, so trade data is available on otcmarkets.com.
Securities that are not listed on any stock exchange, the OTCBB, or the Pink Sheets are considered to be in the Grey Market. Transactions are processed independently and not centrally listed or quoted. Trades are reported to a Self-regulatory organization (SRO), which then passes the data on to market data companies.
http://en.wikipedia.org/wiki/Pink_Sheets#Grey_Market

Foreign issuers such ADR’s are an exception since most are fully reporting in their own country of origin.

**********

Suspended companies usually end up on the Grey Market due to Exchange Act Rule 15c2-11

Rule 15c2-11 -- Initiation or Resumption of Quotations without Specified Information

http://taft.law.uc.edu/CCL/34ActRls/rule15c2-11.html

**********

Grey Market activity:

http://www.otcmarkets.com/grey-market/home

**********

Grey Market trading issues:

There are no market makers in this security. It is not listed, traded or quoted on any stock exchange, the OTCBB or the Pink Sheets. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult.

http://www.otcmarkets.com/grey-market/learn/otc-market-tiers


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crazybetting crazybetting 13 years ago
Suspended until Sep, 1.
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itri4life46 itri4life46 13 years ago
Yahoo Message Board for Puda Coal is now shut down! What message board is everyone landing on?
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TheFinalCD TheFinalCD 13 years ago
That aint right= PUDA trading suspended again.
http://stks.co/cP
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Renee Renee 13 years ago
Now only suspended but PUDA is dispatched to Grey Sheets.



UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
RELEASE NO. 34-65178 / August 19, 2011

The Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of Puda Coal, Inc. (“Puda”), commencing at 5:30 p.m. EDT, August 19, 2011, and terminating at 11:59 p.m. EDT, on September 1, 2011.

The Commission temporarily suspended trading in the securities of Puda because of a lack of current and accurate information about the company. Specifically, (1) Puda’s auditors resigned on July 7, 2011 and stated that further reliance should no longer be placed on its previously issued audit reports dated March 31, 2010 and March 16, 2011; and (2) the Audit Committee of Puda’s Board of Directors has announced that it has preliminarily concluded that evidence supports the allegation that there were transfers by Puda’s Chairman in subsidiary ownership that were inconsistent with disclosure made by the Company in its public securities filings. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (“Exchange Act”).
The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.

Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Puda’s securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker, dealer or other person has any information which may relate to this matter, David Rosenfeld of the New York Regional Office of the Securities and Exchange Commission should be telephoned at (212) 336-0153.



http://sec.gov/litigation/suspensions/2011/34-65178.pdf
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21ZNA9 21ZNA9 13 years ago
PUDA trading suspended again.

http://stks.co/cP
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nsomniyak nsomniyak 13 years ago
no - I can't get to it today
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robin robin 13 years ago
any body got a yahoo message board link ???
robin
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Y12311 Y12311 13 years ago
Wing want to pay 12$
why we give him to pay less?
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Sam'd'Mil Sam'd'Mil 13 years ago
Nice close PUDA!
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Stoquer1 Stoquer1 13 years ago
glad i cancelled my sell order
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Stoquer1 Stoquer1 13 years ago
gonna run back up before close
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Stoquer1 Stoquer1 13 years ago
Dam couldnt get filled 3.92 trying to take half off
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Stoquer1 Stoquer1 13 years ago
4.00 is here
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Stoquer1 Stoquer1 13 years ago
huge gap up to 5.77 when it was halted.
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Stoquer1 Stoquer1 13 years ago
I am playing the noon bounce expecting to close over 4.00 today.
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Sam'd'Mil Sam'd'Mil 13 years ago
i hear ya... same deal SAP* pulled off (few $100M deal)... most of these stocks are pos period... And when they trade on a higher exchange, they can cover it up better than stinky pinkies. Nice profits man!
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LaoTsu LaoTsu 13 years ago
I shorted a $6 just a few days before it was halted, so it has been a couple of months (?) waiting to cover... I was lucky to read a Zero Hedge article about the stock being a fraud... I think the stock was halted a day or two after I shorted...

All this talk of a $12 or $24/share buyout made my undies feel a little tight, but it worked out...

A lucky trade... does not happen often!

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