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Posted On: 04/26/2022 2:06:52 PM
Post# of 36541
Well, gang, it looks like the sharks are circling from every angle, and GNBT/NGIO are, as they say, “wearing Milk Bone underwear”.
I’ll see if this link pasted properly or not after I post.
The bankruptcy is involuntary, being forced by third parties. Even Beijing Youfeng is after them for breach of contract.
I don’t know if they can quick-file a voluntary bankruptcy in the 21 days they have. But since this is going to the old address, and Joe isn’t actively managing in any way, this is likely curtains (IMO).
If Joe really did put PGs (personal guarantees) on some of the contracts, he might be in for a world of hurt.
https://1drv.ms/b/s!Av2Y6jUQG1iSge1Jnvp-YnrNY3MLUw
It’s been fun, but I’ll be checking in here less and less. Feel free to send me a PM if you ever want to chat, and I’ll get back to you whenever I see it.
Good luck to you all… I hope your other investments do well once we get thru the current down market. I’m making some smarter and smaller investments here and there to be ready for an eventual recovery.
I’ll see if this link pasted properly or not after I post.
The bankruptcy is involuntary, being forced by third parties. Even Beijing Youfeng is after them for breach of contract.
I don’t know if they can quick-file a voluntary bankruptcy in the 21 days they have. But since this is going to the old address, and Joe isn’t actively managing in any way, this is likely curtains (IMO).
If Joe really did put PGs (personal guarantees) on some of the contracts, he might be in for a world of hurt.
https://1drv.ms/b/s!Av2Y6jUQG1iSge1Jnvp-YnrNY3MLUw
It’s been fun, but I’ll be checking in here less and less. Feel free to send me a PM if you ever want to chat, and I’ll get back to you whenever I see it.
Good luck to you all… I hope your other investments do well once we get thru the current down market. I’m making some smarter and smaller investments here and there to be ready for an eventual recovery.
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