Activist Takeover Time Launches Full Board Replacement Campaign at Cheetah Net
CTNT is trading near its 52-week low of $2.4 (1.2% above the low).
Summary
Activist investor Takeover Time 2026 LLC has launched a consent solicitation to replace Cheetah Net's entire five-member board, citing governance failures, ineffective controls, and the $41.1M Shanghai Kesheng receivable. The campaign is preliminary, with no record date set, and Takeover Time currently holds zero shares.
Key Events · Corporate Governance and Compliance · CTNT
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Full Board Replacement Campaign Launched
Takeover Time 2026 LLC filed a preliminary consent solicitation to remove all five incumbent directors — Huan Liu, Xianggeng Huang, Xiangan Ruan, Huiping Chen, and Huibo Deng — and elect five nominees: Natasha Ovsepyan, Jourdan Matthews, Walter Harris, Carol Grimes, and Yan Qin.
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Three Mutually Conditioned Proposals
The campaign uses an integrated three-proposal structure: set board size to five, remove all incumbents, and elect the five nominees. None takes effect unless all three are approved, designed to prevent the incumbent board from adding seats to dilute the takeover.
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Governance Failures Cited
Takeover Time cites ineffective disclosure controls and material weaknesses in internal controls, the concentration of Chairman/CEO/interim CFO roles in Huan Liu after the CFO's May 2026 resignation, and the $41.1M Shanghai Kesheng receivable due December 30, 2026.
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Activist Holds Zero Shares
Takeover Time sold all 12,306 post-split shares on September 28, 2026, reducing its ownership to zero. The campaign is being waged without any economic stake, with estimated solicitation costs of $50,000 to be borne initially by Takeover Time.
Analysis · CTNT · Trade & Services
Takeover Time 2026 LLC, controlled by Natasha Ovsepyan, has filed a preliminary consent solicitation to replace Cheetah Net's entire five-member board. The campaign targets the company's governance failures — ineffective internal controls, material weaknesses, the concentration of CEO/CFO roles in Huan Liu, and the $41.1M Shanghai Kesheng receivable — and proposes three mutually conditioned actions: set the board at five seats, remove all five incumbent directors, and elect five Takeover Time nominees. This is a hostile board takeover attempt at a company trading near its 52-week low with a market cap of only $3.2M, following a year of massive dilution and two reverse stock splits. The solicitation is preliminary, with no record date set, and Takeover Time currently holds zero shares after selling its entire position on September 28, 2026 — meaning the campaign is being waged without any economic stake in the company.
How filings like this one have moved
In the 30 days to Oct 1, 2026, 41.6% of the 317 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CTNT was trading at $2.43 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.2M. The 52-week trading range was $2.40 to $63,599.58. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.