Friday, May 17, 2013

The end game for Universal Travel: Ms. Yan, 47, has had many years of experience in financial engineering

Universal Travel was the first Chinese reverse merger company I mentioned on this blog. Here is the original post (Travelling Through China)...

The company has since collapsed. It traded up after my original post - something that seems amazing until you work out that an elderly and formerly rich retired car dealer in the Central Valley of California (a man since deceased) spent almost $10 million dollars buying shares.

Those shares are down 98% and the charities that man left his money to wound up nearly empty handed.

Universal Travel's dynamic CEO Jenny Jiang has since resigned. You can see her dynamism in this now classic film of her ringing the opening bell of the New York Stock Exchange:

The 8-K announcing Ms Jiang's resignation also announced her (temporary) successor - a Ms Yan - who used to be the Finance Officer and also the Chief Operating Officer.

Here is what they say about her:

Ms. Yan, 47, has had many years of experience in financial engineering...

So now they tell us...



John said...

At least they are honest.

abee crombie said...

hey John what do you think of PGJ on the Nasdaq. Lots of chinese internet co's trading cheap. Have the bad apples been fully priced in?

Anonymous said...

Interesting ... I didn't know that George Valente died. I talk to Jerry Dye quite often and he's still gung-ho on UTRA. He went over to China again recently to check out one of UTRA's new facilities and nothing but positives to speak upon his return. I know he was buying stock when trading resumed. Jerry was George's partner and the guy in charge of the money.

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