American Oriental Bioengineering Inc (EM) (AOBI)

Thanks

We need to get it current again so it can trade.

It doesn't mean anything really. It's just bookkeeping for brokerage firms.

Those of us who bought shares of AOBI back in 2014, before the 1-501 reverse split (which happened April 2014 if I remember correctly) had the post reverse-split shares removed from our brokerage accounts. Replaced with a cusip number, pending a cash-in-lieu of fractional shares.

No payment was ever made. Those shares (and money) went **poof**. Not even 1 penny on the dollar was distributed. No fractional shares ever distributed.

But now, the remnant "ghost" shares of AOBI, are finally being removed from brokerage accounts.

Can you please tell me what this means?

Thanks

Officially stolen. Brokers are starting to remove Cusip of AOBI deemed "Non-transferable" greater than 6 years.

Fabulous - hopefully the start of good things to come......

Custo granted!

Maybe I'll buy some then........

Yeppers

So ,Alpharidge Capital LLC, is going after it as custodian?

Thanks

Case Information

A-21-837305-C | Alpharidge Capital LLC, Plaintiff(s) vs. American Oriental Bioengineering Inc, Defendant(s)

Case Number
A-21-837305-C

Court
Department 22

Judicial Officer
Johnson, Susan

File Date
07/02/2021

Case Type
Other Civil Matters

Case Status
Open

Party
Plaintiff
Alpharidge Capital LLC


Active Attorneys

Lead Attorney
Shafer, Jay A.
Retained

Defendant
American Oriental Bioengineering Inc


Events and Hearings

07/02/2021 Complaint

Comment
Application for Appointment of Custodian NRS 78.347(1)(B)

07/02/2021 Initial Appearance Fee Disclosure

Comment
Initial Appearance Fee Disclosure

07/02/2021 Summons Electronically Issued - Service Pending

Comment
Summons

07/02/2021 Clerk's Notice of Hearing

Comment
Notice of Hearing

?
08/03/2021 Motion

Judicial Officer
Johnson, Susan

Hearing Time
8:30 AM

Comment
Application for Appointment of Custodian NRS 78.347(1)(B)

Unbelievable - I am going to stay away from it then.

Yes, correct.

They never paid the cash and took the shares?

How in the world can they do that??????

Sorry to hear that.

I was thinking of buying some, but now I'm not so sure.......

Just like today32 said, nothing is happening with this. Last I heard, there was some potential class-action lawsuit being formulated, but that was years ago. (2016)

Link here: https://www.prnewswire.com/news-releases/us-shareholders-announce-formation-of-a-group-to-recover-investor-funds-through-a-receivership-over-china-based-american-oriental-bioengineering-inc-ticker-aobi-300376594.html


I have several brokerage accounts with "ghost" shares on AOBI....just showing cusip number 028731404 with no market value.

It's not like they reneged on the reverse split at the last minute (causing us to lose money because of commission fees or capital loss etc), and it's not like they cashed out for 1 penny on the dollar....They just did the reverse split, shares went POOF, and all money gone. Stolen.

No clue what's going on... they scammed shareholders 4 years ago, going private via a 1/500 reverse split with fractionals cashed out and then they never paid the cash. Stole the shares and the SEC didn't do anything.

Did anything ever happen with AOBI?

Does anybody still own it?

Anybody have any idea about the company today?

It still trades.......

Are you still involved?

Any idea what is going on?

Did anything ever happen with this?

Does anybody still own it?

Anybody have any idea about the company today?

It still trades.......

I don't really know. Don't really care at this point. Just so disillusioned with all this. The fact that companies are allowed to trade on U.S. exchanges, and also allowed to publish false information in SEC filings with no repercussions.

Small amount of money lost, just the principle of the thing.

They have a shareholder lawsuit going, right?

lol. just blowing off steam. I wonder how many new Chinese companies are incorporated in the state of Nevada or Delaware everyday. Total shyster companies allowed to be publicly traded in America.

I suppose I should've made my last post more obvious that it was sarcasm. money gone forever.

Was your post just blowing off steam or is there some news that I'm missing?

Giimmie the money!!!

here is the link for the group that is spearheading the class action against aob- keep our fingers crossed-- www.confidentialglobal.com

Testing,

We are forming a shareholder group to take immediate action regarding AOBI. If you are a shareholder and interested in possibly joining, please email to info@csilegal.com and include the # of shares you have. You can also call 212.626.6708.
ALL INFORMATION IS KEPT CONFIDENTIAL.

Aardvark Turds!!!!

Latest Response from Broker: ....

(June 10, 2016)

"Thank you for contacting Fidelity Investments! I appreciate that you are entrusting your investing assets with our firm, and it is my pleasure to assist you.

After speaking with our Corporate Actions department, I confirmed that there have been no responses from the company American Oriental Bioengineering about the cashing out of their old shares. It seems that this company has been unresponsive for the last two years, and we have no way of forcing this cash out without their response. I apologize for the inconvenience this may cause.

We have been asked that all inquiries pertaining to this matter should be directed to: Yanchun Li at AOBO6@VIP.SINA.COM. The company's telephone number is 011-86-10-5982-2069."

blatent fraud. company putting out totally scam information in their SEC filings, and the SEC says.....(wait for it...) MEH!

If only the company was some conservative Chinese company, like FREEDOM Bioengineering inc., or PATRIOT american bioengineering inc., SEC would be all over that shit lol.

balls!

no class-action law suits? no SEC investigation about a company submitting blatently false information in SEC filings?

no?

I googled lawsuits against them and see that a few were filed, but they were thrown out. Cant believe that they got away with this!

good question about the class-action lawsuit. Im surprised there aren't any in the pipeline yet. I'm guessing they will be coming eventually.

They've had class-action lawsuits against them before, so you'd think the same law firms would be all over this.

Just spoke to scottrade-no help i would like to take the loss on this years taxs as its been forever that i have been holding this turd-- does anyone think there is a chance for a class action? cant even trade it

Where the hell are the class-action lawsuits on this????

where my money at? turd pancakes!! with extra syrup!

I have sent a SEC complaint but SEC told me that it is not their duty to deal with this.

I'm still here, pissed at what these Chinese Crooks [Department of Redundancy Department?] have pulled off with yet another one of the SCAMS for which they're famous for.

Here's my suggestion:

Buy 100 or 200 shares of this POS stock. 100 or 200 shares of AOBI will set you back ~$200 to $400. But . . .

The next step is have your broker transfer your shares out of street name and into yours. I did this with my Fidelity account. There is NO CHARGE for this at Fidelity SO LONG AS you're not requesting a paper stock certificate. Just ask them to do an electronic transfer to transfer the shares out of Street Name and into your name.

The Transfer Agent is Computershare. Fidelity (in my situation) will electronically transfer the shares out of my individual NON-RETIREMENT account and into my "account" at Computershare.com. The Transfer Agent will then send a letter informing me that I now hold X number of shares of AOBI held by Computershare, along with my account number at CS, etc.

This is where the fun part begins:

You will want to transfer at least one (1) share of AOBI to 100 to 200 of your closest family members and/or best friends. Get their permission, of course, but once you do, send a "Letter of Instruction" to Computershare Investor Centre.

In this Letter of Instruction, write an Introductory Paragraph (e.g., "My name is Johnny Wishbone, I am the owner of record of "X" shares of AOBI. I would like to transfer one (1) share of AOBIto each of the following people, trust accounts, custodian for minors, etc., as follows:)

Then, start with the Number 1., name, address and SSN (if you have the latter), otherwise, they'll ask these NEWEST co-owners in our fine company to supply SSN . . . just in case the compnay should make some kind of payment. [As an aside, you can stop ROTFLYFAO right now).

Instruct Computershare to issue a "STOCK CERTIFICATE" (i.e., an OLD-FASHION PAPER STOCK CERTIFICATE). This will be done at NO CHARGE to either the gifting shareholder or any of the hundred or so recipients. This is charged to the company (AOBI).

The cool part is that we all get to spread the love, SPREAD SOME SHARES to NEW shareholders, make AOBI pay for the transfer/issuance of these 100-200 stock transfers, not only in issuing the 100-200 new stock certs., but to incur the cost of adding/subtracting my 100-200 shares from my accounts, issuing stock certificates where one would normally be charged $250.00 to $500.00 for EACH STOCK CERTIFICATE by our stock brokerage firms.

And best of all, once we hit the Magic Number of 300 or more separate, distinct shareholders, guess what? AOBI's suspension of their duty to File reports with the SEC must ONCE AGAIN RESUME incurring all he Sar-Box expenses of SEC filings, paying law firms, accountants, all of the expenses that they thought they were saving by "GETTING OVER ON US". AOBI's duty to report to, file with, the SEC was merely SUSPENDED . . . it NEVER went away. Once we hit the Magic Number of more than 300 shareholders, their DUTY is ON AGAIN.

I hope that I've explained the process with enough detail, yet without confusing the hell out of everybody. If I managed to confuse, please do not hesitate to ask for help.

AOBI was "such a great Chinese Company, trading in the United States" under OUR stock exchanges, facing compliance with Sar-Box, the SEC, the Attorneys General of all 50 states.

It will be so much fun welcoming Fat Tony & Co., back to our fair country. Our rules aren't as Loosey-Goosey as they are in the Far East, but hey, it'll be fun getting to say "Hi" to these guys.

So, AOBI went dark on us per SEC rules (of suspension of duties to file/report once you have less than 300 shareholders. All that I am doing is helping our friends "stuck in China" to come back to our country, and they will have the privilege of turning the lights back on again. You know . . . just like it used to be . . . Old School . . . good times.

Again, please let me know of I can be of assistance in transferring your shares to family/friends. I'd be happy to help since it will help us turn the lights on once again on a company whose BOD, Majority Holder, etc.

so everyone is gone, everyone has accepted that AOBI ripped off it's shareholders. Millions of dollars stolen.

no class-action lawsuits? no SEC inquiry? nothing? just government-sanctioned theft? really.

ok, everyone's good with that. Let more shady Chinese companies get incorporated in Nevada, and let them trade on U.S. stock exchanges.

Update from Optionshouse broker:

I noticed on Tuesday, that Optionshouse removed the 500 shares of AOBI (temporary shares held in "contra" account) for cash out of $0.50 per pre-split share.

Here is their response today.




Hello XXXXX,



Our Operations department looked into the AOBI Corporate Action for you, but was unable to provide any updates of if and when the cash settlement will be paid. It appears that American Oriental has stopped responding to all legal litigation and has not taken any steps to make payment for the cash settlement. At this point, we do not have any further information and have no anticipated date of when the company is going to pay the cash settlement, if at all. I have included a copy of the most recent memorandum regarding this Corporate Action below.


Mandatory Announcement



We have been notified, DTC HAS NOT BEEN ABLE TO OBTAIN ANY FURTHER INFORMATION PERTAINING TO THE CASH
OUT OF FRACTIONAL SHARES. AS PREVIOUSLY STATED, WRIGHT & LOEB IS NO LONGER
REPRESENTING AMERICAN ORIENTAL AND ALL INQUIRIES SHOULD BE DIRECTED TO THE
ISSUER.


AMERICAN ORIENTAL HAS BEEN UNRESPONSIVE AND HAS NOT COMMUNICATED WITH DTC
VERBALLY OR IN WRITING TO OUR INQUIRIES PERTAINING TO THE CASH OUT OF
FRACTIONAL SHARES.



The shares will be removed from the client’s positions, UPON NOTIFICATION OF ANY FUTURE
DISTRIBUTIONS FROM THE ISSUER, DTC WILL TAKE THE APPROPRIATE STEPS TO
REINSTATE ALL POSITIONS AND ALLOCATE ENTITLEMENTS ACCORDINGLY.



The shares will be removed from the client accounts on 8/7/15.

just thought I would post in the month of June, and say, "BALLS!!". That is all.

I'm very surprised that no class-action lawsuits have begun over the fractional payout refusal yet. Over a year from reverse stock split and absolutely NO information from the company or it's law firm? why no law suits??

can't even get pennies on the dollar for money "invested" in this pos. every penny literally went "poof".

and the SEC doesn't care I guess. lol.

I'm curious to see if there is anything that can be done (by brokerages, FINRA or the DTC) to force them to pay. I'm hoping that there's something that can be done besides a class action lawsuit.

well it's been officially 1 year since reverse split of AOBI. Congrats to all us suckers.

response today from Scottrade: more of the same. It's been almost 1 full year since the reverse split. fu*king scum criminals. and we gleefully allow these companies to trade on American Exchanges with no repercussions if they commit fraud.

"We contacted the attorney of the AOBI on Mar. 10, 2015. However, he did not provide us new information. We still do not have the pay date."

I've just about had it with these cash out plays...companies are getting away with lying in their SEC filings!

FCRM. on 1/22/2015, FCRM did a 1-200 reverse stock split with a special condition that stockholders with less than 200 shares would be cashed out.

def 14c filing on 11/18/2014: "stockholders of record who own less than 200 pre-split shares of Common Stock on the Effective Date will be cashed out at a price of $0.50 per pre-split share."

I was not cashed out, and the temporary stock/cusip number was just reverted back to FCRM.

Here is my broker's response just now,

"It appears that Franklin Credit Management Corporation transfer agent rejected the request to receive cash for the 199 shares. Instead the company processed a reverse split 1-200, then process a forward split for 200-1. Also the company changed the CUSIP number of the security from 353491103 to 353491202. Details on why the company rejected the tender cash offer, you will to contact the company's Investor Relations department for more information. You should be able to find the contact information on the company's website."

How the hell do you just decide which parts of the SEC filing you are going to abide by?

fu**ing crooks.

NOW I CAN'T sell the stupid stock, because Fidelity is telling me there is NO bid showing up for them for the stock, even though I show .31 x .50 on Scottrade and other brokers.

Update on AOBI Fractional Share Payout
What has transpired since your last post regarding the fractional share payout. My broker paid a small cash in lieu payment and says an attorney is working on the .50 payout. Have you had any luck? I had 2000 share in one account they gave me 2 new shares and 1.21 for the 498 old share remaining. (should have been 249.00). They delivered off these old shares. I feel that they should be returned to my account. What do you think? Would seem that this would be a violation of the "Rules of Fair Practice" or some other SEC Rule. Maybe you can help me out with this.

I plan to hold off until 2015, but who knows, we could be in the same situation at that point too.

well, I'm claiming AOBI as a tax loss for 2014. why not? the money went poof!


Even though there's not really a "sell date" for a loss, it could be the day of the reverse split. That's what I'm claiming.

Not a large amount of money, but the principle of the thing.


IF we ever get paid for fractionals, I'll claim it, but it doesn't look good. Hell, if the law firm representing AOBI hasn't even contacted the company since summer, this fractional payout deal is of zero priority to them.

Where are the class-action lawsuits? lol.

thanks for that update. Yeah, pretty much what we already knew/had heard before. I would have assumed there is a time restriction, as to how long a company has to pay out it's fractional-share shareholders. Seems ridiculous to wait a year or more. usually takes around 10 days after reverse split lol.

but since she hasn't heard from the company since Summer, seems like it's not a huge priority to get things rolling faster.

Tahra Wright from the Loeb law firm called me back. The last time she spoke to the company was over the summer. Her expectation is the the fractional share payouts will get made, they are just waiting on the company to wire DTC the funds. I asked about the court-related stuff that was complicating things, but she said that she wasn't aware of any court proceedings that were holding up the process. I asked if there was a chance that the payment might not be made at all and she said that it was her "expectation" that it would be made.

So basically she said that:
1. DTC is still waiting on the company to wire them the funds
2. There's no hold up related to court proceedings.
3. She hasn't heard from the company since the summer.

Not terrible news, but it doesn't look like there's any end in sight unfortunately =(