Shanghai indes I am not sure where you get your infor tracker, but the Shanghai index just closed at its lowest in 44 months. The index fell to below 2000 for the first time since 2009. From what I read from the analysts, China is not in a good position financially right now, and as almost all the big companies are linked to the government, there will be a slow down.. They are just starting to resume allowing IPOs, and as there is no appetite for investment right now, the success of these are a bit in doubt..
Even the Nexen deal is in doubt as the offer was made without the money, and they are now trying to raise the capital in the debt market......the Chinese have a bit of a habit of making promises they dont really know if they can keep.
The bottom line here, is that AXI needs to see a cheque for 20 million for equity, not continued debt instruments for small financings just to stay afloat, placements at the .20 level diluting the longs, and sort of, almost promises that , while balyhooed by some here, do not come to fruition because they were not quite closed.
From what I have been told by those I consider very reliable sources, you can not count on a Chinese investment until the money is in the bank, and you only have to read back over some of the posts from the wise ones here to see how they were stating the money was in the bank and the deal done...over a year ago...