Dear Share expert,

My relatives bought this share for USD2.50 * 10,800 share (About RM120k) , he was told that this company QMIS security is going to get listed in USA for value over USD 8 Market price when listed on NYSE.

But based on his share certificate, he gotten 10,800 share but with par value of $0.001 per share.




Does it means that he got cheated or significantly overpaid for his share? Because based on my knowlege his share cert only worth USD 10.80


Now he tengah panic and ask for my help.


Hope some sifu can help

means now he really paid RM120k for a paper worth USD10.80? So how he going to untung?

Let me help u make it easy to understand

Company shares got 2 kind of value
Par value = paid up value.. means the total paid up $$ / shares = par value.

The second value is face value. This value is the share price. Share price up and down is about face value. He buy when usd 2.5, and going to list at US at usd 8.

So actually he gain usd 5.5 x 10800 shares

Smell like a money game, scam.

This post has been edited by icemanfx: Jul 7 2017, 08:19 PM

The share is valid?

What is the finding? Real share or scam?

hah guess what, the company is still not listed and OTC price now 0.51cent. Any poor soul who invested in this?

When your relative bought? Now only worth 0.51USD.


Loss is (0.51-2.50)x10,800=-21,492USD = -93,490MYR.
Loss is almost RM100k.
I'm guessing this company is a private company hence the word OTC (over the counter).
Good luck finding a buyer.

Must be scam. The company sounds like a reverse merger that didn't go through.
Read more about the scams: Early 21st-century Chinese reverse mergers

3 minute summary

Now they say dual listing on NASDAQ and NYSE bro

2017 until now say listing also havent listed. Scam already. better take back money.

Yup as one of the forumer explained, the 0.001 is the par value. For share price it is seen at the face value which means what price the share currently trading at.

Regarding the share cert, your relative need to take note it is a restricted shares and subjected to rule 144 SEC , it need to remove the legend before can do DTC and enter brokerage and trade.

Buy at usd2.50 at 2017. At 2019 price already rise at usd20 still dont sell ar???? Seriously!! Ayooooo.....

Now when price drop usd0.51 you talking about sell?

If sell at USD20 and later stock become USD1000 how?

Wow.....

Good example of people invest in something they have no idea about.

most likely the reason is he can't sell, need to convert first and he didn't know how

Have you actually read the S-1 filing? How can a company with such balance sheet, ZERO assets recorded as at 31 March 2021, were able to list on public market?

The minimum requirement to get listed on Nasdaq was:

- Shareholders Equity of at least $2,000,000.
- At least 100,000 shares of public float.
- A minimum of 300+ shareholders.
- Total assets of $4,000,000.
- At least two market makers.
- $3 minimum bid price of the company stock.
- Public float market value of $1,000,000

I bet they did not fulfill any of this. and they are not even making any revenue at all.

https://pictr.com/images/2021/10/16/BGdCqf.md.png

Well, I do have relative invested in this scam too.... but luckily they are able to withdrawn their money since the amount they invested is not a significant amount.

Btw, any expert here can advice, does US Sec allowed all sorts of company to file in FORM S-1, REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933?

1stly it restricted share certificates which you need check the reverse side on the conditions of restriction

2nd the value paid vs the value of certificate itself already gives away as you relative go to checked big time by those so called investment group seminar which there is many around as I encountered before

3rd to dispose this will be difficult be there is not a proven value yet and dispose it via exchange will be difficult because the transfer ownership you need to look into now

$0.25 per share

https://www.marketwatch.com/investing/stock/qmis

Painful 90% loss

Well agreed Christina. There are too many victims involved in this so-called QMIS IPO.

To other victims who landed this page in future, let me brief about what is the current "talk show/ aka lie show" explained by this company.
I have friends who got scam by this company, so I roughly know what's happening to this company (might not 100% correct). Let's get into it. Few months ago, a company "RICHWOOD VENTURES BERHAD" contacted my friend that there will be a zoom online call to discuss what's happening to QMIS IPO. Hence, I pretended to be an investor to listen their "talk c*ck show". Well, they mentioned that they submitted the wrong file to Nasdaq. Instantly, I felt very silly to these group of management team and at the same time I also felt sorry to the investor whose money got scam. Then, they mentioned that it will listed on Nasdaq end of September 2021. Well, few days ago, another same "talk show" via zoom call, they mentioned it will listed on Nasdaq next year January 2021. So, in my opinion, I believe that this is a scam because QMIS is blacklisted (check on OTC market website). Unfortunately, I did not do deep research, but I do found these few companies are linked to each other to scam people money. According to my friend, the black and white contract mentioned that if QMIS not able to listed on Nasdaq, then QMIS will refund the money plus the interest to investor. I am not sure about this, but if you are the victim and reading this message, perhaps you should connect with other victims and get a good lawyer and ready for a war.

Below are the companies I mentioned that they might linked to each other.
RICHWOOD VENTURES BERHAD
PANTOP MILLENNIUM SDN BHD


Dear Christina,

You mentioned that your relative are able to withdrawn their money. Hence, I informed my friend about this. Unfortunately, they do not allow my friend to withdrawn money by mentioning "Sorry, we already submitted your details to Nasdaq". Well, I do not dare to make any wild guess. But, I do hope that these bunch of guys will get their karma soon.

Just do a deep dive on Richwood you can tell it’s big time scam with shell corporation moving scam money around to avoid detections

2023 UPDATE

Hello, I want to revive this thread. My friends & family here in Kuching got invited to invest in the Pre-IPO for QMIS TBS CAPITAL GROUP CORPORATION.

Buy pre-IPO lot at USD 9.00, guarantee sell by broker at USD 25 on opening day. I hear also think what lj scam is this but need more info to shoot down friend and family delusion.

I go google QMIS, the first link on google is about "Unauthorized service provider representatives":

https://qmis.com.my/investors-alert/

Any more updates from SIFU here?

guys, any update to this? i got relatives also invested in this but I strongly believe this is a scam. Please update us if you have further information.

Thanks in advance.

their panpay office at ioi business park already closed down. their o2o store and qrpay richwood still open though. their mossan boutique also macam empty already.

another old thread at:
https://forum.lowyat.net/topic/5391987

This post has been edited by coyouth: Dec 4 2024, 03:13 PM