GCL Technology Holdings Ltd (PK) (GCPEF) 銘柄情報

HK exchange trading has resumed!!!

Thank God I loaded back up :)

Heavy volume too. Price is erratic but closed at double my basis. Have no clue what it'll settle at. Actually a little surprised it went above .4 already. May sell off a bit. But Schwab is requiring these orders be called in. Annoying.

News Releases: http://www.gcl-poly.com.hk/en/Investors/Announcements___Circulars/

The Good:
1) Profitable for 6 months ending June 2021
2) Book value per share is over $1
3) There appears to be a plan to prevent implosion.

Bad:
1) Still alot of debt.
2) No mention of when HK exchange trading will resume.

Picked up another 1,200 @ 0.01 on more panic selling.

Watch out. After October 27 board meeting, I won't be surprised if the HK exchange allows trading soon after. Price will correct after. Im betting higher, since the company already indicated they are likely to be profitable, at least for a partial period.

Might be a good time to pick up if you can find a broker that allows trades (I know Schwab does). Some algorithms are predicting a fall to 11 or 12 cents. But low volume may prevent any significant accumulation at that level. Once HK trading resumes, the discount ship has sailed.

99% Price Drop! Blame Rule 15c2-11

As of today, my TD, ETrade & Merrill accounts will NOT allow purchase trades for GCPEF. They spit out error messages citing "SEC Rule 15c2-11".

However, my Schwab account let me purchase 10,000 shares for a whopping $6 (including fee). Still down $4K on my existing shares.

After reading rule about Rule 15c2-11 on the SEC site this is what I think is happening:

Brokers must now take steps to verify that the OTC companies exists (among other things) before they are allowed to broker OTC transactions. Either those 3 brokers just have not taken those steps; or maybe because Poly GCL trading is suspended on it's home (Hong Kong) exchange, they've decided that they aren't allowed to trade.

People holding the stock are seeing the new restriction, thinking something is wrong and panic selling.

NOTHING about the company has happened or been revealed about the company in the last week (other than the date announcement of their regular board meeting). This drop is purely artificial.

Now the restricted trading should hurt the value by limiting the pool of buyers. But not nearly this much.

Translated from yesterday's release. Basically just an announcement of a board meeting on 10/25/2021.

HKEx Limited and Stock Exchange limited are not responsible for the contents of this publication, make no representations as to its accuracy or completeness, and expressly disclaim any liability for any loss arising out of or arising from reliance on all or any part of this notice. GCL-POLY ENERGY HOLDINGS LIMITED Poly GCL Energy Holdings Limited (Limited companies incorporated in the Cayman Islands) (Stock code: 3800) The date of the meeting of the board of directors Poly GCL Energy Holdings Limited ("The Company", together with its subsidiary called "The Group") (the "Board of Directors") hereby announces that the Company will be in Costeau Road, Kowloon, Hong Kong, on Monday, October 25, 2021 A board meeting was held in Room 1703B-1706 on the 17th floor of West 1st Global Trade Plaza to approve matters, including consideration and approval of the Group's full year ended 31 December 2020 Annual results and the Group's interim results for the six months ended 30 June 2021 and their release, as well as consideration of the proposed final and interim dividends, if any. Continue to suspend trading The shares of the Company will be suspended from 9 a.m. on April 1, 2021 and will remain on hold until further notice. Shareholders and potential investors of the Company should exercise caution when buying and selling the Company's securities. Hong Kong, 12 October 2021 On the date of this announcement, the Board of Directors includes the Executive Directors, Mr. Zhu Xiongshan (Chairman), Mr. Zhu Warjun, Mr. Zhu Rongfeng, Ms. Sun Yu, Mr. Yang Wenzhong and Mr. Zheng Xiongju; and independent non-executive directors Dr. Ho Chung-tai, Mr. Yip, Dr. Shen Wenzhong and Mr. Wong Wenzong. Take the order of the board of directors GCL-Poly Energy Holdings Limited Poly GCL Energy Holdings Limited chairman Zhu Congshan

Volume and price are back to "normal". Just tripled my holding. At some point the HK exchange will resume trading. Im betting it takes off after that.

BTW, can anyone explain how this is trading OTC while its primary market has frozen trading?

Company News @: http://www.gcl-poly.com.hk/en/Investors/Announcements___Circulars/

My broker pages do not list any of the company releases ever, which are highly relevant.

Simple technical pattern breakdown.

Any idea why the spike? Im also curious why price is down. They have a release on their website last week that the expect to post a profit for once for The period ending June. This should have driven price up.

Probably has something to do with this OTC stock being the secondary market, while the primary HK market is still in suspended trading.

VOlume selling.

Debt restructuring has been approved!

Not sure why this hasn't caused a price bump. Either word has not gotten out. Or maybe their waiting for court approval. I think that would be a rubber stamp procedure though.

https://www.pv-magazine.com/2021/06/07/gcl-note-holders-formally-approve-debt-restructure/

Debt restructuring has been approved!

Not sure why this hasn't caused a price bump. Either word has not gotten out. Or maybe their waiting for court approval. I think that would be a rubber stamp procedure though.

https://www.pv-magazine.com/2021/06/07/gcl-note-holders-formally-approve-debt-restructure/

Last chance to average down or bail. June 4th's meeting will either seal the company's fate. Or give new life.

Who's got the b@\\$?

Poorly chosen word used in place of "Project?"

"Scheme" meeting scheduled.

https://deals.lucid-is.com/gclnewenergy/

Today GCPEF's website posted a link to the meeting documents scheduled for June 4th. (of course no mention on my broker's site)

This will be either really good or really bad. Last announcement from the CEO talked like this was just some kind of formality. But in reality creditors could shut the company down.

The document is over 1,200 pages. I've read through alot of it. Unfortunately you can't tell by reading this how likely the outcome will be.

I may regret not averaging down, but I'll just wait this one out.

Why on earth would they call it a "Scheme" meeting? Sounds nefarious.