Losing Money to Be a Tycoon c1-883
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Pei Qian read the news twice or thrice in disbelief.
It was indeed reliable news, not gossip!
The news that the Cold-Faced Lady and Meng Chang had gone back on their word had to be true. The fact that the Cold-Faced Lady’s shop was closed and Meng Chang did not make any public responses further proved this point.
Pei Qian’s impression of the cold-faced lady was still the same as last week.
At that time, there were rumors of the Cold-Faced Lady failing online. Meng Chang even reprimanded the reporters for creating rumors.
In the end, only a week had passed, and the so-called ‘rumors’ had become true. It was almost instant.
In fact, if Pei Qian had paid attention earlier and asked He Desheng or Boss Li for information, he would definitely have known about these things earlier. However, he had been focusing on the IOI Finals in Los Angeles for the past week apart from revising. Thus, his information was lagging.
Pei Qian walked to the study room and called He Desheng.
“Has the Cold-Faced Lady closed down?” Pei Qian asked directly after the call connected.
He Desheng said, “Yes, Boss Pei. I was just about to report this to you. The Cold-Faced Lady should have finished burning their money, but could not obtain more financing that’s why the capital chain is broken. There are still a few suppliers who did not get paid.”
“Boss Li came to me this morning to ask about your attitude. I haven’t given him an answer. Boss Li means that if you are still interested in the cold-faced lady, he would arrange for all the investors to meet. The sooner the better…”
Pei Qian pondered for a moment. “Alright, tomorrow afternoon then.”
“Go and inform Boss Li and the other investors. Ask those investors who are not in Jingzhou to come to Jingzhou to discuss the matter with the cold-faced lady.”
He Desheng did not know why Boss Pei chose tomorrow afternoon, nor did he know what his plan was. However, he did not ask much and just agreed.
Pei Qian returned to the study room after he hung up.
In fact, there was no special reason for choosing tomorrow afternoon. It was purely because there was a closed exam tomorrow morning.
He could not delay the exam even if there was a huge problem. Otherwise, wouldn’t he have wasted his time revising?
Chapter 811 - Dirt Cheap Prices
January 11th, Wednesday…
In the conference room of Dream Realization Ventures, the investors sipped their tea as they waited for Boss Pei to arrive.
Many of these investors had rushed over from Beijing. He did not know if it was because they were tired from traveling or something else, but their expressions were not very good.
Li Shi tried his best to liven up the atmosphere, but the investors still looked at Meng Chang as if they wanted to skin him alive.
Meng Chang, on the other hand, looked “nonchalant”.
It was as if he had been completely burned out. his thoughts and soul had drifted away somewhere else even though he was there physically.
The atmosphere was tense.
While the investors would occasionally chat and exchange pleasantries out of courtesy, everyone’s faces were filled with gloom. They were definitely in a bad mood.
That was reasonable. How could they be in a good mood since their money went up in smoke?
Ordinary people would feel the pinch for months if they lost a few thousand yuan when buying stocks. They would want to hang themselves if they lost more than a hundred thousand yuan. These investors’ losses were calculated in the millions.
While investors knew very well that there were risks in investing, who would have thought that such a reliable entrepreneur like Meng Chang would mess things up?
All in all, Meng Chang’s cold-faced lady had received at least twenty million yuan in investment. After a round of hype, its valuation had risen to nearly three hundred million yuan. In the end, Meng Chang lost everything completely.
Other than the shares of the Cold-Faced Lady, the investors had nothing else.
However, no one would take over this mess now that the Cold-Faced Lady had been exposed to all sorts of negative news and Meng Chang had become a judgment debtor. These shares were already worthless.
How could these investors not be angry?
Of course, this was a business rule. No matter how angry the investors were, they could not do anything to Meng Chang. What’s more, even if they did something to Meng Chang, they could not squeeze money out of him.
As for Meng Chang, he had already surrendered and was lying flat.
While he did not need to be responsible for the investor’s money, the investment agreement he signed with Boss Li stated that he had to be responsible for the Cold-Faced Lady’s debt. Now, he already owed the supplier a few million yuan. This money had to be counted as his personal debt.
When there was a problem with the capital chain, Meng Chang naturally did everything he could to find investments to save the cold-faced lady’s fate. However, Boss Pei had sold his shares twice, and the negative news that exposed the cold-faced lady had severely affected the investors’ confidence in the cold-faced lady.
Investors had very strict conditions: He would not get a single cent if he did not sign an infinite liability agreement.
Meng Chang was caught in between. However, he definitely could not take such money because he knew very well that if he did not take the money, he would only owe a few million yuan. If he took it, he would probably owe hundreds of millions.
In the end, the longer it dragged on, the more debt he would have to pay. The news would only be released when he could not take it anymore.
After becoming a judgment debtor, Meng Chang knew very well that the Cold-Faced Lady brand was done for. Not even God could save it.
Since that was the case, he would just play dead. The situation was already so bad that it made no difference to make it worse. In any case, he would slowly repay this debt. The other investors could do whatever they wanted.
Thus, the situation with the cold-faced lady had become a deadlock.
Li Shi was the one with the best mentality apart from He Desheng.
Li Shi had also invested a sum of money, but he had invested for a completely different reason and motive than other investors.
Li Shi had indeed panicked when he heard that the Cold-Faced Lady was going bankrupt. However, Boss Pei’s willingness to appear had ignited Li Shi’s confidence.
As long as Boss Pei did not completely give up on a project, he could not say that it had failed completely!
The venue remained in a contradictory and subtle atmosphere, waiting for Boss Pei to arrive.
Finally, footsteps came from outside.
The door of the conference room opened. Outside, He Desheng said respectfully to a young man, “Boss Pei, everyone is here.”
Everyone in the conference room immediately stood up and looked at Boss Pei as if they were drowning and yet saw their last straw to clutch at.
Some investors had some special guesses about Boss Pei’s appearance.
The investors had already arrived in the morning. Why did Boss Pei set the time in the afternoon? Was there a special meaning behind this?
There were too many stories and riddles about Boss Pei’s background after all. Many ordinary and reasonable things that others had done had different meanings to Boss Pei.
Pei Qian waved at everyone. “Hello, everyone! Please take a seat.”
The high-spirited Boss Pei brought life to the previously lifeless conference room.
The investors could not help but wonder what sort of happy event Boss Pei had encountered that made him so happy.
According to the rumors, Boss Pei had always been a person who did not show his emotions on his face. He did not look too happy even when he earned a few hundred million yuan from Dayak Corporation.
Yet, he looked so happy today. Could he have made more than five hundred million yuan in some industry?
Pei Qian only had one thought in his mind: I’m finally done with the exams!
The last exam in the morning might not have been perfect, since he had missed out on a few points during his revision. However, he had at least gotten close to the mark. He had definitely passed. It would depend on fate for whether it was 65 or 70 marks.
How could he not be happy that he was finally free after so long?
He could not help but smile. Everyone could tell.
Pei Qian did not mind. In any case, he just wanted to understand the situation today. He wanted to buy some rubbish assets to make it easier for him to lose money in the future. It did not matter what these investors thought.
Pei Qian took a seat at the head of the table. Li Shi and He Desheng sat on either side of him. The other investors sat on either side of the conference table. Meng Chang sat alone opposite Boss Pei, looking like he was a criminal being interrogated.
Li Shi said, “Boss Pei, let me briefly explain the current situation of the cold-faced lady.”
Pei Qian roughly understood the situation after listening to Li Shi’s explanation.
All in all, the Cold-Faced Lady had run out of money and could not get more financing. The money earned by the shop was far from enough to support normal operations. Thus, the valuation collapsed and the shares in the investors’ hands were worthless.
There was no falsehood in those words, and no one dared to lie to Boss Pei. After all, He Desheng only had to verify the information.
Faking things in front of Boss Pei would only have the opposite effect. It was better to be honest and leave a good impression on Boss Pei.
Everyone was waiting for Boss Pei to speak.
The current situation of the Cold-Faced Lady was a dead end to everyone. They had already confirmed that they had lost all their money. Who would continue to throw money in? Boss Pei had already earned millions through the Cold-Faced Lady and escaped safely. There was no reason for him to return to this quagmire.
However, Pei Qian’s first sentence shocked everyone.
“How many shares do you have in the Cold-Faced Lady? I want all of them.”
The investors looked at each other. Happiness had come too suddenly. They were not prepared for it.
Even Meng Chang’s blank eyes flashed with hope.
In terms of shares, it was obvious that Meng Chang, the founder, had the most shares. However, it was useless no matter how many shares he had. Logically speaking, investors had the right to sell their shares first, and he, the founder, would not have a chance. However, Boss Pei seemed to want all the shares?
If that was the case, he would be able to sell a portion of his shares and recover a little.
Of course, it was impossible to sell shares at this time based on previous estimates. They would probably be sold at dirt cheap prices.
However, he would sell it if he could. At the very least, he would have to pay a portion of his debt first.
Meng Chang was no longer fantasizing about financial freedom. He only wanted to reduce his debt now.
An investor raised his hand and asked tentatively, “Boss Pei, what is the price you plan to buy the shares at?”
Pei Qian looked at He Desheng.
He Desheng whispered in Pei Qian’s ear, “Boss Pei, the founder, Meng Chang, has at least 40% of the shares. Boss Li has less than 30%. Given the situation of the cold-faced lady, everyone’s psychological price would be very low. It should be about enough to symbolically give them about 3 to 5 million yuan.”
Pei Qian was a little surprised. “Boss Li has so much?”
He Desheng nodded. “Yes, Boss Li recently bought a small portion of shares at a low price. The price is also very low.”
Pei Qian looked at Li Shi, who smiled back.
Pei Qian was speechless. He had a feeling that Li Shi would not sell his shares.
However, that did not matter. Boss Li only had less than thirty percent of the shares in his hands. It would not affect the Cold-Faced Lady’s control at all. What’s more, Pei Qian did not think that the Cold-Faced Lady could make money in his hands. The reputation of this brand was completely ruined.
Pei Qian looked at everyone and said, “Three million yuan to buy all of Cold-Faced Lady’s shares. However, the prerequisite is that I have to buy more than 70% of the shares at once. Otherwise, I won’t buy them.”
He did not say anything else and gave He Desheng the lowest price.
There was basically no need for Cold-Faced Lady’s company to be saved according to He Desheng’s view, letting it go bankrupt was the most logical choice. However, since Boss Pei wanted to buy it, He Desheng, as his subordinate, had to estimate a suitable price.
Compared to the Cold-Faced Lady’s peak valuation, three million yuan was really dirt cheap. Each of these investors could only get a few hundred thousand yuan at most. It was almost ten times less than their previous investment.
However, a few hundred thousand yuan was better than nothing. If they did not sell it, they would definitely not be able to find another buyer. They would not even have any returns back.
Of course, it would be a little insulting if it was any lower. These investors might not sell it once they were angry. It would not look good.
The investors looked at each other after Boss Pei gave the price.
They were definitely not satisfied with this number, but there was nothing they could do. Most people knew that it was already not bad to be able to get a few hundred thousand yuan back.
Once Boss Pei opened his mouth, he stuck them in a lower psychological price position, making them very uncomfortable.
A glimmer of hope appeared in Meng Chang’s eyes. “Boss Pei, do you want my shares as well?”
Pei Qian nodded. “Of course, I won’t reject anyone at this price. However, Cold-Faced Lady is a company that you established after all. Are you sure you want to sell it?”
It was dirt cheap no matter what, it was the same no matter who he bought it from.
Meng Chang nodded immediately. “Yes!”
He was now carrying a debt of several million yuan on his back. He could only sell his shares for a million yuan according to Boss Pei’s bids, while it was not enough to pay off his debts, he could still pay whatever he could.
He had originally thought that selling these shares would allow him to achieve financial freedom. In the end, he would only be able to pay off one million yuan in debt. Meng Chang had mixed feelings.
It was a beautiful dream, but reality taught people how to behave.
The other investors had nothing else to say. Judging from Meng Chang’s attitude, the Cold-Faced Lady was definitely hopeless. It would be a waste to hold on to these shares.
What’s more, Boss Pei had already said that he would not buy anything unless he could buy more than 70% of the shares. That investors have no intention of bargaining.
Forget it, they would run away if they could.
The investors exchanged a few glances and finally accepted it.
Li Shi sold a small portion symbolically while he kept about twenty percent of the shares. Meng Chang sold all the shares and at least paid off a portion of the debt first.
Someone like Meng Chang would not be willing to be beaten down. He still hoped that he would be able to make a comeback after paying all his debts.
Chapter 812 - A New Level in Boss Pei’s Investment Path
Pei Qian did not have to worry with He Desheng handling the various procedures.
He Desheng did not know why Boss Pei was spending millions to pick up rubbish but since the matter had been decided, there was no need to ask further. Boss Pei had his reasons for making such arrangements. He just had to watch and learn well.
The matter was settled very quickly. The investors in the conference room left separately. Meng Chang left the fastest, seemingly not wanting to have any interaction with the people in the conference room.
> He could not take a plane or a high-speed rail as a judgment debtor. He could only take an ordinary train back to Beijing. The few hours he would spend on the journey would be torturous.
Of course, with the Cold-Faced Lady gone, it was hard to say if Meng Chang would still remain in Beijing. However, everyone present obviously did not care about what would happen to Meng Chang in the future. It would be good enough if these people did not skin him alive.
Li Shi said a few polite words. He wanted to invite these investors to have a meal together, but everyone declined.
Not in the mood!
In fact, these investors had only come to Jingzhou this time for Boss Pei’s sake. They were looking to sell off their shares cheaply now that it had become rubbish in their hands. Since the shares had already been sold, it meant that the investment had completely failed. How could they still have the mood to eat?
Many people could not understand why Li Shi was so calm.
Boss Pei had previously sold the Cold-Faced Lady’s shares to earn a few million yuan. Now, even if he were to take out three million yuan to play the game, he would not incur a loss. Boss Li had invested money into the Cold-Faced Lady, and even bought some shares at a cheap price. No matter how you looked at it, this was a huge loss. Yet, he did not look upset at all?
It was hard to understand.
Although they were all investing, investors in Beijing did not think much of investment companies in small places like Jingzhou. After all, investors in Beijing invested in internet companies with unlimited potential. What could they invest in a small place like Jingzhou?