After 10 years of car manufacturing, Jia Yueting's and his FF91, as well as the car-making company FF Faraday Future, may finally usher in the end of the play.
Because the market value of FF Faraday Future is less than $2 million, and the stock price is below $0.1 for ten consecutive days, it no longer meets the Nasdaq listing rules and will be delisted by Nasdaq.
Judging from the current situation, Jia Yueting is powerless to recover and cannot maintain the status of a listed company, once cleared, the current market value of 2 million US dollars will be directly zeroed.
Of course, the direct economic impact of this incident on Jia Yueting is not great, after all, Jia Yueting is no longer a shareholder of FF Faraday Future, it doesn't matter if he can't clear it, and he won't lose a dime, at most, it will not be so easy to "cheat" in the future.
What is really affected is those creditors, the former debt of 2.96 billion US dollars, about 20 billion yuan, has also come to naught, directly cleared, and these creditors are not good at finding trouble with Jia Yueting, they can only admit defeat, and they really can't play Jia Yueting.
Why did Jia Yueting's $2.96 billion debt become a stake in FF Faraday?
This is Jia Yueting's cleverness, Jia Yueting owed a lot of debts before and went to the United States to build cars, but the creditors also chased to the United States and asked Jia Yueting for money.
So in 2020, Jia Yueting filed for personal bankruptcy in the United States (personal bankruptcy is allowed in the United States), and once he filed for personal bankruptcy, he would have to restructure his debts.
The so-called debt restructuring is to see how much money he owes, what assets he still has in his hands, and what money he is worth, and the two parties sit down to negotiate what to do.
In the end, it was found that Jia Yueting only had shares of FF Faraday Future that was valuable, so the two sides sat down and talked for many rounds, among which Jia Yueting must have drawn a lot of cakes for everyone, depicting the bright future of FF Faraday Future.
So these creditors also had to agree, the 2.96 billion US dollars owed by Jia Yueting became a 17.2% stake in FF Faraday Future, everyone hopes that FF Faraday Future will succeed in building a car, then the debts of the creditors are expected to be repaid with interest, and they can make a lot of money, after all, Tesla is in front, if Jia Yueting seriously builds a car, there is still hope.
I never thought that Jia Yueting didn't really want to build a car, but was just using the guise of building a car to raise money everywhere and transfer debts at the same time, as for whether the car was built successfully in the end, it didn't matter.
The important thing is that he is no longer in debt, and the debts of the creditors should be asked for by the stock market, and as for delisting, then ask the NASDAQ......
Under American law, Jia Yueting is indeed no longer in debt, as long as he does not return to China, no one can do anything about him. Therefore, playing with Jia Yueting, the creditors are still a little bit hot, Jia Yueting is an accountant, and everyone is played by him, and they can only pinch their noses and admit it.