Ann: Half Yearly Report and Accounts, page-22

From the half yearly report they have a NTA of 23.07 cents per share as of June 30 this year. I was hoping some external commentary would be out by now but there isn't. If this can believed, then its conceivable that even in a fire sale investors will get their money back even possibly make a decent profit


Given the two directors of Mejority (Lil and Sheather) have now joined the board of XPD to try to recover their estimated 7.5 Million shares exposure you could also safely assume they are doing their absolute best to make this work, which works indirectly for other share holders

Whilst the two points above are very encouraging and whilst they are physically possible, they are very very optimistic. You only need to watch the "China Hustle" documentary recommended by the directors at the AGM to realize that there is little chance of this money leaving Chinese shores.
To save you time looking up this documentary, I've included the free links to the documentary China Hustle below:
Part 1
Part 2
If you dont have time to watch both - watch part 2 if you don't have time for all of part 2 then just watch the first 5 minutes of part two. If you don't have time, I've put my brief notes below:
In this you'll see how smart USA people raised funds in IPO's for these companies, how even smarter people went over there saw that these were rubbish and shorted them publishing their results ( often using surveillance cameras on continuous to show companies not delivering volumes to such tricks as offering samples ( in this video a Tea sample) to get an idea of the true number of employees, along with comparing china's reporting in the Chinese equivalent of the SEC, the SAIC, with actual SEC files (Can lie to the SEC from China not to the SAIC in china living in China, that would be a death sentence)
Points from the documentary I found interesting:
Not illegal in china to steal from foreign investors
Cant take bank statements at face value. the bank manager is literally known to doctor the records he shows to someone wanting to see if asked by the client ( to protect his client and business from that client ) This can be to auditors, anyone except I guess a Chinese govt official
Auditors are false comfort they simply sign what they are given to sign. PWC in China is just a franchise its not PWC,
People that have "visited the factory" etc, they have shown through cameras put up that the Chinese have put on a show for investors then when gone, their outside cameras show everything being switched off!
Fines for fraud just make it a cost of business their is no jail same as everywhere

sadly I would rather have put my money on a horse paying 100-1 than have it parked in XPD shares...