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CIWT - China Industrial Waste Management Announces Change of Audit Firm 07/19 05:01 AM
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DALIAN, China, July 19, 2011 /PRNewswire-Asia/ -- China Industrial Waste Management, Inc. (CIWT:$0.9500,$0.0000,0.00%) , a leading environmental services and solutions provider in China, today announced that it has dismissed Jewett, Schwartz, Wolfe & Associates ("JSW") and engaged the firm of UHY LLP ("UHY") as its new independent registered public accountant. The change was announced on Form 8-K and filed with the US Securities and Exchange Commission on July 7, 2011.
Both the dismissal of JSW and the appointment of UHY were considered and approved by the Board of Directors of the Company.
UHY has been a leading accounting firm specializing in serving China-related companies and addressing the complexity of cross-border financial reporting issues. Ranked by Accounting Today as a Top 20 professional services firm, UHY has more than 1,000 professionals across the US. UHY's international network also ranks among the top 15 accounting organizations based on the criterion of combined fee income.
In connection with the audits of the Company's financial statements for the fiscal periods ended December 31, 2010 and 2009, and through June 30, 2011, there were: (i) no disagreements between the Company and JSW on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to the satisfaction of JSW, would have caused JSW to make reference to the subject matter of the disagreement in its reports on the Company's financial statements for such periods, and (ii) no reportable events of the type listed in paragraphs (A) through (D) of Item 304(a)(1)(v) of Regulation S-K.
"It is important to note that we have made this change not as a result of any disagreement with JSW," commented Mr. Jinqing Dong, Chairman and Chief Executive Officer of China Industrial Waste Management (CIWT:$0.9500,$0.0000,0.00%) . "We are very pleased to be working with UHY."
CNBI China BCT Posts 2010 SAIC Reports to its Website 07/19 05:00 AM
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LIUZHOU CITY, China, July 19, 2011 /PRNewswire-Asia/ -- China BCT Pharmacy Group, Inc. (CNBI:$2.05,00$0.00,000.00%) , , ("China BCT" or the "Company"), a leading pharmaceutical distributor, retail pharmacy, and manufacturer of pharmaceutical products in Guangxi Province, China, today announced that the Company has posted its 2010 State Administration for Industry and Commerce ("SAIC") reports, along with a reconciliation to certain corresponding figures disclosed in the Company's 2010 U.S. Securities and Exchange Commission ("SEC") filings, to the Investor Relations section of its web site at: http://ir.stockpr.com/chinabct/SAIC_Reports.
"In addition to corporate presentations, press releases, SEC filings and other shareholder resources, we have posted the 2010 SAIC reports for each of China BCT's three subsidiaries to our website," commented Mr. Hui Tian Tang, Chairman and Chief Executive Officer of China BCT Pharmacy Group, Inc. (CNBI:$2.05,00$0.00,000.00%) "By providing investors with financial information above and beyond required disclosure, we aim to promote transparency and differentiate our Company from our peers," Mr. Tang concluded.
Snagged a starter of TKC @ 12.89 Friday, 52wk low..like the company. Nice steady divi too..
GURE - 4 Million shares short, P/E of 2 here, Earnings 8/15
http://finviz.com/quote.ashx?t=gure
XING presentation :
http://www.cosun-xing.com/Down/Xing_Ops_01.ppt
Slide 19, lol...
Qiao Xing Universal Resources Files Its 2010 Annual Report on Form 20-F
http://biz.yahoo.com/prnews/110715/cn36148.html?.v=1
thanks for the clarification
NIVS 8K - Am I reading this incorrectly? This sounds like a good thing: housecleaning. These parties terminated their engagements with the special committee (which was formed for an internal investigation) after their involvement was complete. The company is enacting these recommendations...would love to hear a different take on this, perhaps I am reading this completely wrong.
KEYP - On July 5, 2011, Keyuan Petrochemicals, Inc. (the “Company”) received a letter from The NASDAQ Stock Market (“NASDAQ”) indicating that based on its review of the Company and pursuant to NASDAQ Listing Rule 5101 and Listing Rule 5250 (c)(1), the NASDAQ staff (the “Staff”) has determined that “continued listing of the Company’s securities on The Nasdaq Stock Market is unwarranted.”
In accordance with the procedures set forth in the NASDAQ Listing Rules, the Company timely appealed the Staff determination, and requested a hearing before a Hearings Panel.
In response to questions raised concerning the Investigation Team’s interim report, referred to in the Company’s press release published on July 11, 2011 and included in its Interim Report on Form 8-K filed with the SEC on July 11, 2011, the Company would like to clarify the following points: (1) the final investigation has not been completed by the Investigation Team, (2) the Investigation Team was not in a position to determine that the Company's accounting for revenue from certain customers had been "accounted for appropriately," as these are determinations to be made by the Company and its independent auditors, (3) the interim report was issued by the Investigation Team to report its findings in connection with certain sales and customer transactions, neither Pillsbury, Deloitte, King & Wood nor the industry expert “separately verified the accuracy of information related to the Company's 2010 sales”, and (4) the Investigation Team made no determination in the interim report that the Company is on "solid financial footing."
Free Nitwit!
Suspended Until 09/04/2011 08:10:44 AM
Another green day in the Paltalk room...weeee!
CCCL long alert
DQ looking very cheap, at what point would you buy?
premium service pumping hard yesterday....
4.26
Nasdaq To Delist China Agritech, Cavico Corp, Converted Organics -- CAGC CAVO COIN NDAQ NLTX TDBK
they havent havent had HCI for awhile...ive heard they will be re-engaging a pr firm in the fall
what about us young guys? we like milfs too!
busy bee this morning!
Have to tell you friend, this board has the most informative ibox on ihub. Great work!
New Citron hit piece out on ZAGG
http://www.citronresearch.com/index.php/category/citron_reports/
Auditor resignation: (Filed June 23rd)
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7681110
Delisting notice: (Filed July 5th)
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7698861
China Said to Discuss Letting SEC Probe Mainland Firms for First Time
http://www.bloomberg.com/news/2011-07-05/china-said-to-discuss-allowing-sec-probes-of-mainland-firms-for-first-time.html
Excellent, thanks. GWMGF looks like the winner....
Rodman and Renshaw on AUTC 7/01/2011
AUTC: Rating Under Review
20-F Annual Report Deadline Missed: SEC requires foreign issuers to file their 20-F within six months of their fiscal year end. For AUTC this would imply a June 30, 2011 deadline for year ending on December 31, 2010. The company has missed this deadline, and announced that it will file a form 12b-25 for an extension. Management has attributed this delay to a dispute on the accounting treatment over the company’s earn-out shares. Press release also stated that the company is seeking guidance from Office of the Chief Accountant (OCA) of SEC, and potentially have to restate its 2009 historical financial statements. Additionally management discloses that the company is currently under an investigation conducted by SEC, and management is fully cooperating with SEC in providing information needed. Given the company’s inability to file its 20-F in a timely manner we are removing our financial projections for AUTC and putting our rating on the company Under Review from our prior Market Perform rating. We will revisit our rating upon receiving further clarity / updates from management and SEC.
Company Description: AutoChina International Limited (Nasdaq: AUTC) is a commercial vehicle sales and leasing company in China that primarily operates through its wholly owned subsidiary, AutoChina Group Inc. (ACG). The company completed the sale of its automobile dealership business for a total cash consideration of $68.8 MM on December 14, 2009. AUTC has been focused on expanding its commercial vehicle financing network and value added services across China. According to the company’s SEC filing and press releases, as of March 31, 2011, the company owns and operates a total of 318 commercial vehicle leasing centers in China. In 2010, AutoChina leased 12,561 units of trucks, a 66.1% increase from a year before.
Risks: a) Availability of finance, b) Risk associated with conducting business in China, c) Highly competitive nature of automotive sales and services industry, d) Risk associated with prevailing economic conditions, and e) Failure in expanding commercial vehicle financing center. f) Uncertainties around SEC investigation. g) Delay in 20-F filing and a potential restatement.
Notice Regarding Privacy and Confidentiality:
This material has been prepared for informational purposes only. While it is based on information generally available to the public from sources we believe to be reliable, no representation is made that the subject information is accurate or complete. Past performance is not a guarantee nor does it necessarily serve as an indicator of future results. Price and availability are subject to change without notice. Additional information is available upon request.
Since Rodman & Renshaw, LLC is not a tax advisor, transactions requiring tax consideration should be reviewed carefully with your tax advisor. Similarly, Rodman & Renshaw, LLC is not a law firm and provides no legal opinions or legal advice.
Rodman & Renshaw, LLC may make a market in the securities being discussed.
Rodman & Renshaw, LLC and/or its officers or employees may have positions in any of the securities of this (these) issuer(s).
Red Flag Soap in Artificial Life (ALIF) Continues
Item 4.01
Changes in Registrant’s Certifying Accountant.
(a)
Dismissal of Principal Accountant
On June 27, 2011, the audit committee of Artificial Life, Inc. (the "Company") approved the dismissal of BDO AG ("BDO") as the Company’s principal accountant effective immediately.
BDO has not issued a report on the financial statements of the Company in either of the two most recent fiscal years.
BDO was engaged by the Company on April 20, 2011. Since that date, there were no disagreements between the Company and BDO on any matters of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of BDO, would have caused BDO to make reference to the subject matter of the disagreement in its report on the Company's consolidated financial statements, and there were no reportable events as that term is described in Item 304(a)(1)(v) of Regulation S-K, except as set out below.
During the course of the audit of the Company's financial statements for the fiscal year ended December 31, 2010, BDO raised a number of accounting matters that would have prevented BDO from rendering an unqualified opinion if the issues were not resolved. There were discussions between the Company, its audit committee and BDO in connection with these matters, which principally related to: the commercial substance of certain material transactions, accounting for recognition of revenues (including timing and actual receipt of cash), valuation of intangible assets, the impact of these matters on the Company’s financial statements as of December 31, 2010 and whether prior years’ financial statements were affected by these matters, and accounting for a joint venture agreement.
These issues remained unresolved at the end of BDO’s engagement, which occurred before BDO could complete its work on these and other issues. In addition, as of the date of the Company’s termination of BDO’s engagement, BDO was unable to determine whether the Company had taken timely and appropriate remedial actions with respect to possible illegal acts, within the meaning of Section 10A of the Securities Exchange Act of 1934, identified on June 1, 2011 by BDO to the Company.
In connection with the above, at the recommendation of management, the audit committee of the Company engaged accounting consultants on June 18, 2011 to perform an analysis of the above described issues. Such accounting consultants have met with the Company's audit committee on these matters, have been instructed to continue their work and will continue to report to the audit committee which will determine what, if any, action should be taken. The Company believes that such actions will constitute prompt remedial action. The Company’s audit committee will also be addressing these matters in connection with its appointment of a successor auditor.
The Company has provided BDO with a copy of the foregoing statements and has requested that BDO furnish it with a letter addressed to the Securities and Exchange Commission stating that BDO agrees with the Company's statements in this Item 4.01(a). A copy of BDO's letter stating its agreement with such statements is attached as Exhibit 16.1. The Company has authorized BDO to respond to inquiries of the successor accountant concerning the matters set forth above.
http://chinainvestorking.blogspot.com/2011/07/red-flag-soap-in-artificial-life.html