GlobeNewswire·Nov 9, 2026, 7:43 AM ET

Enough Is Enough: CTNT's Board Has Had Its Chance; Now Stockholders Deserve Theirs

CTNT

Takeover Time 2026 LLC is leading a contested campaign to replace Cheetah Net Supply Chain Service Inc. (CTNT) directors & demand accountability for share-price losses, reverse splits, equity issuances, & overseas lending.
CEO Huan Liu's voting power increased from 1.7% to 50.8% after purchasing 200,000 fifteen-vote Class B shares for $400,000 on June 15, 2026.
Liu regained approximately 53.3% voting power after acquiring 100,000 additional Class B shares for $330,000 in October 2026.
CTNT Class A shares declined approximately 99.4% from the September reverse-split-adjusted price of $247.50 to $1.57 by November 6, 2026.
Takeover Time filed a proposal to remove the incumbent Board on October 1, 2026, & is challenging the October Class B issuance in Delaware Chancery Court as it could frustrate the consent campaign.
A preliminary injunction hearing regarding the disputed 1.5 million votes is scheduled for November 18, 2026.
CTNT reported zero full Board meetings in fiscal 2024 & 2025, prompting demands for complete meeting minutes & approval records.
The company acknowledged two reverse splits in 2026 (1-for-200 in April & 1-for-150 in September) & reported $29.5 million in unsecured loans to overseas borrowers.
Natasha Ovsepyan, Takeover Time's managing member & nominee, stated she used personal funds to launch the campaign & has no Board seat or access to corporate treasury.
Stockholders are urged to return the GREEN consent card to support replacing the Board with nominees Ovsepyan, Jourdan Pierce Matthews, Walter Franklin Harris, Carol Grimes, & Yan Qin.
The incumbent Board's WHITE card functions as a revocation tool that could withdraw prior affirmative consents to the Takeover Time proposals if signed & returned blank.