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AERL up today.....
Set to announce audited earnings for the year tomorrow. Also anticipated is the 20 cent dividend announcement.
CHGY requests an extensions but....
Within the extention there was this quote on expectations.
"The Company’s revenues for the fiscal year ended November 30, 2011 increased to approximately $158 million from approximately $88 million for the fiscal year ended November 30, 2010. In addition, net income for the fiscal year ended November 30, 2011 increased to approximately $28.5 million from approximately $17.6 million for the fiscal year ended November 30, 2010."
With 45 million shares O/S, that means about 63 cents for the year and for the past quarter it was about 18 cents, which is huge.
AERL: Its been on fire for 2 days
NEP....Its not that difficult for auditors to confirm the relationship with PetroChina. For the end of the year audit, you select 2 or 3 months and send a confirmation to PetroChina asking them if NEP sent over xxx number of barrels of oil for the following months. Its all computerized and should be simple for PetroChina to confirm. Then you compare what PetroChina confirms and what NEP has on their books. Typically if there is a legitimate relationship, the only problems are end of month timing issues.
Anybody want to venture a guess as to why the movement upwards today?
Anyone sold their shares to the shorts?
Given the high interest rate some of these shorts are paying, has anybody attempted to or has sold some shares to the shorts.
Lots of good things going on.
1)They are about to complete 2 acquisitions. See the deposits section of the 10k
2) Anticipated growth rate of 25-30% for this year.
3) Nasal Drug approval is imminent.
4) A top 4 auditor will be used for the 2011 audit.
5) sales force will increase substantially.
6) Entering 4 new provinces in China.
7) Stock buyback when mgmt is able to get devise a method to get large amounts of cash out of China. Restrictions by the gov't creates an obstacle for management.
9)Pristine balance sheet where the working capital amounts to about $35 million.
10) Company should easily surpass the 12 million in rev's from the 1st quarter of 2010. Comparatives will look very favorable.
Links not working rrcd
What needs to be done, is find out who paid Cintron and Muddy Waters for their hit pieces.
The people who paid them needed their research to cover the insider trading that was occuring.
This is flat out an "insider trading" scandal
People were profiting from shorting, typically its the other way around when you hold insider info.
JoeN, are you still in contact with the people at the SEC?
RedBull,
I don't think the shorts knew where to look for the fraud. I think the shorts got it from a "good source" that Deloittes was going to walk. But, they didn't know why?
They tried throwing the kitchen sink at CCME and it was embarassingly bad. Weren't they the ones filming the wrong buses or make hokey taped phone calls, or falsifying documents?
Simply they had "insider" information but they didn't know the full reason for Deloittes walking but they needed a story, however bad it was, to short and make their money. They needed to put something in print. Giving them credit is misdirected. Look at the evidence they forwarded.
JMHO
I see from Yahoo that Ping bit the bullet at Global....I'm mad at her as she said she confirmed the cash. Global should get sued.
Question for Redman
Since you've got so many years of experience as an Auditor have you ever been on an audit of a public (or private) company and been under pressure from the outside to look for fraud? Have you walked away similiar to reason that Deloittes gave?
Do you think Deloittes wanted to get rid of the audit because of all the controversy surrounding CCME and to protect deloittes reputation.
I was with AA&Co. for only 3 years and never experienced walking off an audit, but you must have been a partner somewhere and have some real war stories.
Was there an acknowledgement by the company that they would post quarterlies?
With the stock halted some of those shorts are crapping their pants worrying or else they're harassing the NAZ to lift the halt.
RRu2, it was some group out of Hong Kong who did NEP forensic audit, Ernest and Young worked on Sarbanes Oxley internal control stuff with NEP
Value I appreciate your comments.
Are you saying someone tipped off DTT that their previous audit(2009) didn't catch fraud created by CCME mgmt.
So DTT goes in this year with a list of things to follow up on which they took for granted last year.
Then all these shorts coordinate these attacks knowing DTT would uncover the fraud.
Again,for me, there was nothing the shorts presented that knocked our socks off especially after people started to uncover all the errors the shorts were making.
Did they pay a class action lawsuit.
They paid $1.16 million for "late registration statement"......sounds like they paid some money to lawyers who were part of the class action lawsuits.
Question for Ratobranco,
Rato, congrats on being right about CCME.
My question is: Was there anything produced by the shorts on SA, in particular MW and Cintron that swayed your decision that there was fraud occuring at CCME.
I fully agree with RedBull and have posted previously that the shorts knew that DTT had a high probability of resigning.
But all the stuff produced by the shorts was absolute crap. They were forging documents, filming wrong buses etc. The shorts just needed cover for the "inside" information they were holding.
But I'd like your take on what the "shorts" produced and if anything was compelling.
joeN, there's revalued warrants in the $1.86 you're posting. It'll probably end up being around 22 cents for the quarter, which was expected.
Cash situation is good, and the new acquisition looks to be on track. Plus normalized production is great. What exactly is normalized production though.
Even better, Brent is still over $100.
Also we've got the AUDITOR to sign off and a 10k on its way is the best news
Rato that's not true of all companies.
BSPM has a CFO with a masters in Accountancy and is a CPA with a pretty good resume.
Value,
I honestly think this was an "inside" job.
I think MW and Citron got wind that Deloittes was looking into resigning but needed to monetize the information. Where they got the info from I'm not sure but perhaps a Deloittes employee was yapping.
The anaysis performed by MW and Cintron was so bad it stunk. They forged documents and had those hokey telephone calls. People like Ping and WCT quickly debunked all their allegations. MW and Cintron didn't know where to look for the problems but they knew the "end results".
Don't give those shorts any credit until we get more info on the problem at CCME and then compare it to what the shorts were forwarding.
If the CEO halted the stock until the 10k comes out.....has he (as RRU2 pointed out on the CGS board) trapped the shorts????
That would be hilarious if came out with great numbers and other info to crush the shorts.
Don't you guys find it amazing the amount of volume that is required to push this up 30 cents. Plus who the heck is doing all the selling.
Goro
Perhaps the major shareholder is ready to buy the remaining shares.
My one worry is that they might have to do 1 more financing if I remember correctly.
Goro
Gold is down $4 today and this thing has been moving like a rocket the past week. Something is a brewing.
Production capacity issues or more technical issues.
I read Dave's blog/website, it seems that they had a heck of a problem with technical issues which MIGHT have limited revenues last quarter.
Anyone else get that feeling after reading Dave's reply from the company for various questions?
Rawnoc, I believe they'll try they'll developed a method to squeeze oil from steel....bahahahaha
Dave,
do you email these guys any longer? If you do, have they answered any of your questions.
After reading your previous blog post....how many mills do they have?.....is it 2 or 3 in Western Australia.
I see that the Plant Property and Equipment is up for the quarter but there wasn't mention of a 3rd mill.....nor is there anticipated increase in staff or PP&E.
I didn't even see the backlog mentioned within the 10Q.
Subsequent to making this post, I see that under "Liquidity"....they are looking into financing an expansion in a overseas market.
How much did we think it cost them in EPS to setup mill #2?
MM are playing games
Per ameritrade level 2, the bid and ask was $2.89 x $3.00
I put in an order for 5k shares 2 hrs before the close at $3.00 ....the MM (UBSS) wouldn't give me my shares...bunch of jerks.
3rd Mill Gilead
Didn't they expense all of the costs for the 2nd mill.....are they capitalizing the cost and depreciating the 3rd mill costs?.....or are they waiting until the 3rd mill to be in production before expensing these costs?
So many acctg questions and such little time...lol.
Info can't be correct
Rawnoc said we were going bankrupt. This info can't be true.
Gilead please post
the latest news release on the IHUB value microcap board....I'm hot a premium member. We need to get this info out.
I wonder if there are 300 shareholders, given how small this company is. The $4 min is for the Nas small cap board and $5 for the regular board.
Anyone ever ask
Would they consider getting off the bulletin board and try for AMEX or Nasdaq?
Someone remind me, how many shares outstanding in the company and what % is held by the insiders?
Where is Rownoc??
What kind of bump if any will we get tomorrow morning?
We should have known something was coming out in the form of a PR....just look at the action of the stock the past few days.
Why couldn't they do this during the day?
Why late in the evening.....don't they know what time it is?
Everyone has a pretty good ideal what NEP quarterly earnings will be because of their production numbers. Compared to the previous years numbers they'll be down.
The thing of real interest is their acquisition of the drilling company and what they plans will be going forward.
I agree with ambulance blues
They also didn't mention or make direct reference to the finished goods inventory in the PR they pushed out yesterday.