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  "documentTitle": "Superb Summit International Group Limited (1228.HK)",
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  "authorName": "Carson C. Block",
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      "text": "Amazingly, Superb Summit's stock has soared over 300% since announcing on June 7, 2013 the letter of intent to acquire JFT.",
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      "text": "Amazingly, Superb Summit's stock has soared over 300% since announcing on June 7, 2013 the letter of intent to acquire JFT:",
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      "text": "whom we consulted believes that the prohibition could apply even to demonstration plants.) All of JFT's prior projects, albeit demonstration projects, are a fraction of the minimum permitted capacity. As we discuss infra, Superb Summit did not actually acquire JFT from its original shareholders - it purchased the stake from a mysterious \"Mr. Ng\" who only held his shares for two months before agreeing to flip 51% of them to Superb Summit. We do not know how much cash Mr. Ng actually paid, but we feel confident that it was massively less than a HK$1.5 billion valuation. This is particularly the case because the entity through which he purchased the JFT stake, Chongcheng, only has registered capital of US$10,000 - making it unclear how he could legally pay much more for the stake.",
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      "text": "Superb Summit can be commended for truthfully disclosing that JFT essentially had no revenue in 2013 and barely has positive net assets. What Superb Summit has not told investors is that JFT is effectively a one-person consulting business without an engineering, R&D, or marketing",
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      "text": "6 Mr. Ng's company Chongcheng (Shanghai) became an 80% owner in JFT in January 2014. Superb Summit announced the purchase of 51% of the shares of the holding company that owns Chongcheng in March 2014. The purchase closed in May 2014.",
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      "text": "JFT is Barely a Business",
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