August 15, 2017
On August 8, 2017, CHX submitted a thick, 500 page amended filing to the SEC, two days before the SEC's August 9th approval or rejection deadline. On August 9th, the SEC's Trading and Market Division approved the 500 page document submission without allowing the public to comment.
These government folks at the SEC must be so "efficient," burning the midnight oil rushing to approve the opaque Chinese deal, depriving the American public of their right to comment on a regulatory submission that was materially changed in every respect. Why are they in such a hurry to screw over the American public?
Questions remain: Just google the names and addresses of the so-called Chinese buyers, they are either located in Chinatown or some rural spots on Long Island, New York. All of them are registered to residential addresses. None of them had filed federal income tax returns, disclosed their owners, provided any proof of legitimate funding or revealed to the public their true identities.
For years, the SEC has attempted to enforce securities rules against "Chinese reverse mergers." But the Chinese are going through the same backdoor listing by owning and controlling the "CHX casino." As the U.S. and China are about to confront a trade war, our uninformed SEC staff has just inadvertently sold to the Chinese a piece of American heritage like a used pickup truck in a junkyard.
Would you buy stocks listed on the CHX when the Chinese will know exactly who you are and where you live? Absolutely not. There are serious, long term repercussions selling the Chicago Stock Exchange to the Chinese.