Novus Energy Inc NOVUF

Drop 1.12

[pennydredful]

deal   has   a  financing  condition    so   Chinese   can  walk   , also   they   will   take  as  long  as  possible   to  pay    using   excuse  needs  approval   of   Chinese   govt.

[ardvark11]

the deal is already fully supported by the parent so financing won't be a short term problem.  the real problem is that less than  50% of the shares traded after the deal was announced which would give a yes vote only 50% incuding the piddly insider holding of 10 million shares.  The big problem is this is not a done deal and they are now just holding their breath. 

[hoopwarrior]

actualy, 168m shares traded since Sept 3, 2013 when the deal was announced... which is around 89% of the register... this deal should be going through Yanchang has already filed for its onshore gov't approvals which consist of provincial level NDRC, MOFCOM (no anti-trust needed), and SASAC (provincial level)... 346.HK which is the HK listed subsidiary for Yanchang requires 3 votes: 1) 50