Cemtrex Inc (CETX)

[stockmasterflash]

That preferred shares so recently issued

are being priced by the market at a 22% yield should tell you that there is a serious doubt about the veracity of this company's financials.

Preferred priced by the market at a 22% yield is a red flag in itself. I'd be willing to bet that if you can find other instances in the past of companies with preferreds that sold off so badly, so quickly, they likely went BK or worse. Certainly not retiring them at par.

Run a screen on companies whose debt or preferred yields 22%. Being in the company of a crowd ike that is nothing to be proud of