In the brilliant 1982 film “Chinatown” a key plot twist was the Mar Vista Rest Home’s role as an untraceable “dead drop” for the bad guys. Noah Cross in today’s version is played by China Sky One Medical (OTCPK:CSKI) and the knife is being held to the investors’ nose by CSKI’s auditor, MSPC.
Our tale of intrigue begins with this notice,” On April 3, 2008, TDR completed an acquisition …. Of 100% …. of Tianlong from Tianlong’s sole stockholder Wu Jiechen, a resident of China, ….for approximately $8.3 million.” CSKI 2008 10-K
Seem’s pretty clear who sold the stock and when. But tales of intrigue demand, well…intrigue. China maintains corporate records very much like the United States and is extremely vigilant about ownership changes. Based on official records from 2000 (1) Tianlong Pharmaceutical was incorporated in 1997 and was 100% owned by Elite Linza Inc. Elite Linza’s ownership of Tianlong had been reduced to 25.5% by April 3, 2008 when they sold out to CSKI (2). Wu Jie-Chen owned 0% of Tianlong at the time and was not a party to the acquisition by CSKI.
None of this sounds to terrible until we notice that Elite Linza has a business address in Queens, at 35-37 165th Street Flushing NY. It also seems strange that the Corporate Charter for Elite Linza (3) became defunct in March of 2000. What we are left with is CSKI completing a major acquisition with a defunct corporate entity lacking the legal authority to transact any form of business. The party named in the CSKI 10-K owned and sold no stock. The actual selling shareholders remain undisclosed. And for some reason, it has all gone unnoticed by the auditor, MSPC. At least MSPC could go knock on Elite Linza’s door and see who is there. Google maps suggest it is only a 19 minute drive from their office on 5th Avenue.
The remaining 74.5% was transferred to CSKI by CSKI’s own subsidiary Chenlong, but that is another story
Documents at www.waldomushman.com/elite.html