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 board-replacement campaign for Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT) to demand accountability for share-price losses, reverse splits, equity issuances, overseas lending, and the restoration of CEO Huan Liu's majority voting control.
Liu and Fairview Eastern increased their combined voting power from approximately 1.7% to 50.8% on June 15, 2026, after CTNT sold Liu 200,000 fifteen-vote Class B shares for $400,000, which was subsequently used to authorize a reverse split without separate approval from unaffiliated Class A stockholders.
CTNT Class A shares declined approximately 99.4% from the September reverse-split-adjusted equivalent of $247.50 to $1.57 by November 6, 2026, a period during which Liu's voting majority was restored.
On October 9, 2026, CTNT sold Liu an additional 100,000 Class B shares for $330,000, granting him 1.5 million votes and restoring his voting power to approximately 53.3%, causing the stock to fall another 40.5% by November 6.
Takeover Time has filed a lawsuit in Delaware Chancery Court challenging the October Class B issuance, arguing that the choice of fifteen-vote shares was unnecessary given the company's alleged need for only $330,000 and the existence of a live board challenge.
A preliminary-injunction hearing regarding the disputed votes is scheduled for November 18, 2026, following the court's denial of immediate emergency relief on October 21.
CTNT reported approximately $29.5 million in unsecured loan receivables from two overseas borrowers as of September 30, 2026, raising questions from stockholders regarding credit concentration, security, liquidity, and repayment risk.
CTNT's proxy statements indicate there were zero full Board meetings and zero Compensation and Nominating/Corporate Governance Committee meetings in fiscal years 2024 and 2025.
Takeover Time has requested complete minutes for the October 6, 2026 Class B issuance, stating these requests have not been fully satisfied by the company.
Natasha Ovsepyan, the managing member of Takeover Time 2026 LLC, stated she launched the campaign using personal funds within less than two months without holding a board seat or access to corporate treasury.
Takeover Time nominated five directors for replacement: Natasha Ovsepyan, Jourdan Pierce Matthews, Walter Franklin Harris, Carol Grimes, and Yan Qin.
Stockholders supporting the campaign are urged to return a GREEN consent card consenting to fix the board at five members, remove incumbent directors, and approve all five nominees.
The incumbent Board's WHITE card functions as a revocation tool that withdraws prior affirmative consents to Takeover Time's proposals if signed, dated, and returned with all boxes blank.
The consent solicitation is separate from the company's December 3, 2026 annual-meeting proxy vote.

Company: Takeover Time 2026 LLC
Keywords: Takeover Time 2026 LLC, CTNT stock, Cheetah Net, CTNT news, CTNT shareholders, CTNT consent solicitation, green consent card, shareholder vote