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That guy from Muddy Waters who after being questioned on the video of 8/26 and made a statement that he is still holding SHORTED shares of this company never really indicated how many shares. Of course he also never indicated if he would sell the shares tomorrow or wait until the PPS reaches further down to rock bottom.
There a lesson to be learned from all this. If this verdict stands up Muddy Waters will add more subscribers and will use the profits from this deal to dig out for many more similar "dirty tricks" companies that can make the subscribers rich. I might decide to follow future selections that they pick for a hanging. LOL!!!!
PwC issued its interim report on 8/11
Sino filings stated that PwC issued its interim report on 8/11.
Today's news and regulatory filings indicate that numerous Chinese managers were suspended based on the findings of the interim report.
No reporting on this material event in the subsequent (8/15) quarterly filing.
Globe and Mail news reports indicate that PWC went to OSC with its findings (as they have a responsibility to do).
The Sino Directors in Canada look like they tried to extend the cover-up. (did not report the suspensions, or evidently forward the report to the regulators per the news reporting). They only got away with this for 2 weeks, and now may face their own charges for attempting a cover-up.
The plot thickens. OSC had access to the interim report and made it's decision to halt trading
[url][/url][tag]http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=83760&tid=3794&mid=3794&tof=18&frt=1[/tag]
It'll reopen at about .30, if it ever reopens
trading suspension is possible. this can be zero
The OSC doesn't take fraud lightly
http://business.financialpost.com/tag/sino-forest/
I see Texas Redneck only manages to regurgitate what bloggers say, glad your not actually doing this professionally
They both had temp suspensions. Fresh news on SINO which I believe is a step in the right direction....
http://finance.yahoo.com/news/Sino-Forest-Announces-cnw-741729599.html?x=0&.v=1
HRBN and HOGS haven't been suspended from the NASDAQ as of yet
HRBN took a hit on Friday with this SNOFF news and will never make it to the bogus $24 buyout price the company spewed. As for HOGS, well it's been on a down hill slide since the chink scams were first brought to public attention
This SNOFF thing wasn't even NASDAQ, it got halted from the pinks!
Next is GREYS
Really? How about HRBN as of recent. Or HOGS. Do some research redneck.
Ya, that would be a first. Hasn't been a chink scam been vindicated yet!
not worried Sam. Quite the opposite. Positive when this resumes trading their name will be cleared and vindicated from any false charges.
Down there in Texas nothing but steers and queers I've heard. Shut your yap Yosemite Sam.
Allen Chan has resigned: http://www.bloomberg.com/news/2011-08-28/sino-forest-says-ceo-chan-steps-down-during-regulator-s-probe.html
Sino-Forest CEO Chan Resigns Amid Regulatory Probe into Revenue, Holdings
By Erik Larson and Christopher Donville - Aug 28, 2011 6:38 AM ET .
Sino-Forest Corp. (TRE)’s chairman and chief executive officer, Allen Chan, “voluntarily resigned” after trading in the company’s shares was halted pending a regulatory probe of its revenue and timber holdings.
William Ardell, the lead director of Sino-Forest’s independent committee, which is reviewing the allegations, was named chairman, while Judson Martin, an executive director, is the new CEO, the company said today in a statement. Sino-Forest also placed three employees on leave after “certain information” was uncovered by the committee, it said.
The Ontario Securities Commission, Canada’s main shares regulator, said on Aug. 26 that Sino-Forest may have misrepresented revenue and inflated its timber holdings. The company’s shares have fallen 67 percent in Toronto trading since short-seller Carson Block’s Muddy Waters LLC published a report June 2 alleging that the company was a “fraud.”
“The allegations made in the OSC’s temporary order, while unproven, are of a serious nature,” Sino-Forest, based in Hong Kong and Mississauga, Ontario, said in the statement. “The company’s business is complex, the scope of the review is significant and there are enormous amounts of data that have been marshaled and are under review.”
Sino-Forest has denied Muddy Waters’ allegations and established an independent committee of directors to respond to the accusations.
The timber company’s shares closed down 29 cents, or 5.7 percent, at $4.81 on Aug. 25 on the Toronto Stock Exchange, the day before trading was halted.
Ontario’s securities watchdog on Aug. 26 initially ordered Chan and four other Sino-Forest group executives to resign and later rescinded the order.
The suspension of trading in Sino-Forest’s shares didn’t cause a default under the company’s guaranteed senior notes or its convertible senior notes, according to the statement.
To contact the reporters on this story: Erik Larson in London at elarson4@bloomberg.net; Christopher Donville in Vancouver at cjdonville@bloomberg.net
To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net
loool, SNOFF was allways in pinks... As well as Nestle, Rolls Roys, etc....
Buy Fear...loaded 10k low 1s..after they come back, back to $3-5.
First I seen a chink pink get halted.
Usually they get suspended from the NASDAQ and go pink
This is what can happen to SNOFF after it resumes trading... Just an oppinion.. (deep dip and rebound to the level and even a lil higher before it got halted)
Read this article too if you have time...
http://seekingalpha.com/article/284541-lihua-international-we-think-undisclosed-related-party-transactions-occurred?source=yahoo
Nah, I hate lines
Jimo this crap will end over just same as oilexco.....
They will liquidate assets just to repay part of the loans and nothing left for common......
Here is what a U1 trading halt is... 26-Aug-11 07:26 pm
Trading Halt - Foreign Market/Regulatory Halt
Trading is halted because the OTC Equity Security or the security underlying an American Depository Receipt ("ADR") that is an OTC Equity Security ("OTC ADR") is listed on or registered with a foreign securities exchange or market, and the foreign securities exchange, market, or regulatory authority overseeing such issuer, exchange, or market, has halted trading in such security for regulatory reasons because of public interest concerns.
http://www.otcbb.com/news/tradehalt/halt...
Wondering if the right eye is fully functional????????
I bees da one on da left
ay ay ay , can't figure wich one are you on Ihub, LMAOOOO
Your timing may be a little off, but thats usually not a big deal...I would, however, suggest maybe taking shorter strokes.
That my friend makes you a GREAT WRITER, LOL
Mikey I'm doing something now that you don't do it for over 15 years allready. I might be wrong in timing, correct me please..........
i wrote:
Get a ticket and wait in line.
Don't stop please...............................LMAOOOO
Can U pass a penny to me please??????? I AM BROKE! PUT ALL MY LIFE SAVINGS INTO SNOFF TODAY.....
Well Chit....I was going to throw some beer money at it Monday morning....guess I'll just have to use the money for beer instead.
bwahahahaha, keep it coming maaan, I love it. Try to drink heavy shit and read Ihub boards, loooool
GRRRRRRRRRRRR, Bro I'm allready drinking and don't give a chit if it opens on monday, tuesday or next weekend, LMFAOOOOOO
Love YA all!
I love that car, and even more the girl hugging the car
Chill down Bro, looool, if the Company is for real the halt will be lifted and we can have MOASS...
At this point it's a waiting game.. Holding few k shares only, not biggy for me
Bashers getting over excited this will resume fairly quickly IMO.
Chit, even Paulson had a position in this mess? lmaooo
U1 Trading Halt - Foreign Market/Regulatory Halt
Trading is halted because the OTC Equity Security or the security underlying an American Depository Receipt ("ADR") that is an OTC Equity Security ("OTC ADR") is listed on or registered with a foreign securities exchange or market, and the foreign securities exchange, market, or regulatory authority overseeing such issuer, exchange, or market, has halted trading in such security for regulatory reasons because of public interest concerns.
http://www.otcbb.com/news/tradehalt/haltcodes.stm
Have no clue, but I think halting is not the same as suspended. If the Comapny complies with the appropriate reqest(s) the trading can resume. One never knows, hehe.
What is a U1 Halt does anyone know? trying to find what this code is cant find it
Calm down man. It's a halt not a trading suspension. Big difference guy/girl.
OMG! SNOFF gets (((HALTED))) thats exactly what I was worried about= sometimes people are so stubborn and just DONT listen...
I figured the EOD wasnt retail buying ...
It was shorts making a wise exit by covering their position
They would rather close out and move on than to get caught in a HALT, even though they could make more money later, many jdont want their funds held up!
Sorry Folk$...
I and others tried to send warnings, of the possible HALT!
Around 5 was a good time to leave.
It was getting a little too quiet.
Paulson left the boat in the 5$ range and the two other hedge funds jumped in the 4-7$ range. All the buying pressure back in july was created by these two funds. They own nearly 20% of the float. I really dont know what's going to happen from now!!! gl
I placed an order last night before going to sleep.. when i woke up - 445 shares of SNOFF @ 2.50 had already gone thru.
Now i cant sell them because i am in OntariO.
WHAT CAN I DO ?
do u guys think this is rebound back to 4.00 per share
When do you guys think the cease order will come off.?
Do you think we have lost all of our investments ?
Is this the end of SNOFF ?
Thanks
concerned Investor.
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Paulson's Comments Upon Previous TRE/SNOFF Holdings | Link Here |
Shares Outstanding ► | 245.7 million shares (as of 12/31/2010) |
Shares in Float ► | 203.8 million shares (as of 12/31/2010) |
TSX Venture Market Information |
Email: louisa-wong@sinoforest.com
CANADA Corporate Administration Office Sino-Forest Corporation | 90 Burnhamthorpe Road West, Suite 1208, Mississauga, Ontario Canada L5B3C3 Tel: +905 281 8889 Fax: +905 281 3338 Email: info@sinoforest.com |
HONG KONG Executive Head Office Sino-Wood Partners, Limited (wholly-owned subsidiary of Sino-Forest Corporation) | Room 3815-29 38/F, Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong Tel: +852 2877 0078 Fax: +852 2877 0062 Email: info@sinoforest.com |
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