OSN - Ossen Innovation After Canceling The Reverse Merger
Last January I wrote about Ossen Innovation (OSN), a cheap stock but in the middle of a value destroying reverse merger. In this transaction valuable Chinese assets would be given away to the controlling shareholder. The other shareholders would get a small piece of a Chinese company (America-Asia Diabetes Research Foundation) with a going concern warning. I think that was more than a warning because from the balance at the time it seemed that company was almost bankrupt.
I also wrote it was unlikely the transaction would not complete for 2 reasons. First,