Takeover Time Files Definitive Consent to Oust Cheetah Net's Entire Board
CTNT is trading near its 52-week low of $2.28 (14% above the low) on light trading volume (0.1× avg).
Summary
Takeover Time 2026 filed its definitive consent statement to remove all five Cheetah Net directors and elect its own slate, with a 60-day consent window that began October 19. The campaign hinges on whether the court invalidates the CEO's disputed 100,000 Class B shares, which carry 1.5 million votes.
Key Events · Corporate Governance and Compliance · CTNT
-
Five-for-Five Board Replacement Sought
Three mutually conditioned proposals set the board at five seats, remove Huan Liu, Xianggeng Huang, Xiangan Ruan, Huiping Chen and Huibo Deng without cause, and elect Ovsepyan, Matthews, Harris, Grimes and Qin.
-
Consent Window Opened October 19
The first signed consent was delivered October 19, 2026, starting the 60-day DGCL §228(c) period; Takeover Time calculates 676,229 affirmative votes are needed on its adjusted base of 1,352,457 votes.
-
Disputed Class B Block Decides Outcome
Takeover Time excludes the 100,000 Class B shares sold to CEO Huan Liu on October 7 (1,500,000 votes, about 53.30% of voting power) from its count; the Delaware Court of Chancery has not ruled on their validity.
-
Post-Election Agenda Sketched
Takeover Time expects to recommend the new board review the $41.11M Shanghai Kesheng receivable, internal-control remediation, capital-raising strategy and Nasdaq compliance, and consider a rights plan and limits on written consent.
Analysis · CTNT · Trade & Services
An activist group holding essentially no stock is asking shareholders to sign written consents removing all five Cheetah Net directors and installing its own slate, with a 60-day window that opened October 19. The outcome decides who controls a company that has already burned through two reverse splits and a $35.28M ATM in 2026, and whose CEO Huan Liu holds roughly 53.30% of voting power after the disputed October 7 Class B sale. Takeover Time is counting votes as if those 100,000 Class B shares do not exist, so the real question is whether the Delaware Court of Chancery voids them before the consent threshold is tested. If the slate wins, Takeover Time says it would review the Shanghai Kesheng $41.11M receivable, capital-raising strategy and possibly a poison pill and limits on written consent.
How filings like this one have moved
In the 30 days to Oct 20, 2026, 37.4% of the 952 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. 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 $2.59 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.5M. The 52-week trading range was $2.28 to $63,599.58. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.