Yriv will be back02:13 PM EST, 12/13/2018 (MT Newswires) -- Yangtze River Port and Logistics Limited (YRIV) said Thursday it "categorically refutes" all allegations made against the company in and unflattering report from Hindenburg Research last week including claims the company misrepresented land it was leasing for a new logistics center and used a recent capital raise to pay the chairman and its controlling shareholders rather than advance the company's projects. Yangtze River says the $299 million estimated value of the land use rights for the logistics center is not the value of the parcel on which the facility will be built, but rather the unused portion which has a value of $299 million. Furthermore, the company maintains the $8.546 million in loans were obtained to pay the upfront deposit payments for the subsequent unsuccessful acquisition of Wuhan Economic Development Port were not paid to the company's CEO, but rather used to repay the convertible notes from the loan proceeds. Shares are lower for a seventh straight day and set a seven-month low on Thursday. Price: 4.09, Change: -0.77, Percent Change: -15.84