SUPER X AI TECHNOLOGY $SUPX
Pelican Way Research • Published 9/8/2025 • A Classic "China Hustle"
CORE INVESTMENT THESIS
SUPX is a classic "China Hustle" scheme masquerading as an AI technology company through undisclosed related party transactions and fake product claims.
The company shows multiple red flags including funneling money to related parties, copying competitor products, false NVIDIA partnerships, and leadership with regulatory sanctions. Pelican Way Research concludes this is headed materially lower.
COMPANY OVERVIEW
PanaAI ($3M) and Mindenergy ($9M+) transactions with shared addresses and directors
Claims NVIDIA partnerships but companies not found in official partner directory
Products appear identical to Nationgate servers and Phanteks towers with SUPX logo
LinkedIn shows only 3 employees despite claiming 51-200 company size
China Hustle Red Flag Analysis
KEY PLAYERS
Previously led Ample Capital, fined $5.5M for inadequate due diligence. Suspended 17 months by Hong Kong regulators. Fired from SUPX in June 2025.
Listed as director of PanaAI and secretary of ASPAC. Both entities share same residential address, indicating undisclosed related party status.
Both individuals serve as directors at PanaAI and Mindenergy, proving related party connections that were never disclosed to investors.
Pelican Way Research's Verdict
According to Pelican Way Research, Super X AI Technology ($SUPX) is a classic "China Hustle" scheme designed to enrich insiders through undisclosed related party transactions and fake business claims. The company exhibits all hallmarks of fraudulent Chinese reverse mergers including money funneling, fake partnerships, copied products, and sanctioned leadership. Pelican Way Research concludes this stock is headed materially lower.