Why It's Time to Save Vision China
Welcome to SaveVisionChina, the web site for news and information about the effort to restore the potential of VisionChina Media Inc.
Based in Shenzhen, China, VisionChina has a promising business in the premiere Chinese subway and bus-based advertising markets. But that promise has gone largely unrealized because of VisionChina's inability to execute its business plan, even during a time of robust growth in the China advertising market.
Meanwhile, VisionChina has lost a series of court decisions to a pair of major shareholders who are pursuing legal action to ensure that VisionChina and a subsidiary comply with their contractual obligation to pay for their acquisition of a company called Digital Media Group (DMG).
The New York State Supreme Court has already ordered VisionChina and its subsidiary to transfer $60 million into New York State. The $60 million represents a portion of the outstanding amount that the shareholders, Gobi Partners and Oak Investment Partners, are owed for VisionChina’s purchase of DMG.
The transfer of funds was due by Aug. 22, 2012. So far, VisionChina has transferred only approximately $3 million.
The counter below shows the approximate growing cost to VISN's shareholders of the $60 million plus interest that continues to accumulate:
Learn more about the plan to restore VisionChina to its place as one of China’s leading outdoor advertising companies through the legal documents and related news on this site. If you are dissatisfied with the Company’s performance and management, send a prepared email or your own to the independent members of its Board of Directors by clicking on one or more of their names below.
Director of Beijing Zonghe Qingrun Investment Co., Ltd.
Chairwoman of Hairun Ogilvy Entertainment Distribution and Advertising Co.
CFO of GreenTree Inns Hotel Management Group, Inc. and Director of Besunyen Holding Company Ltd.
|Kit Leong Low