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what do you expect?
Oh?! The D was removed...they need to warn us when things like this happen...lol
WTF is going on...was the PPS ever at $.001 today or the last few days...geez...
Once you taint the auditor the company is in the same bag. Companies have to do due deligence to make sure it hires a competent auditors You just scared me. You say Chinese mgrs get confused and "manipulate" the FS as they do in their system. If that is true then all the numbers coming out of China are manipulated and its only a matter of time before the house of cards fails. If they fail the entire global system will collapse. I PRAY that is not what you meant.
It cannot help us retail investors who are starved for retirement returns to hear this kind of investigation is going on at the SEC. What the "heck" was Allen Greenspan and Dubya's administration thinking when they concluded that the street could adequately self police. Dumb...just plain Dumb!
Once you taint the auditor the company is in the same bag. Companies have to do due deligence to make sure it hires a competent auditors You just scared me. You say Chinese mgrs get confused and "manipulate" the FS as they do in their system. If that is true then all the numbers coming out of China are manipulated and its only a matter of time before the house of cards fails. If they fail the entire global system will collapse. I PRAY that is not what you meant.
It cannot help us retail investors who are starved for retirement returns to hear this kind of investigation is going on at the SEC. What the "heck" was Allen Greenspan and Dubya's administration thinking when they concluded that the street could adequately self police. Dumb...just plain Dumb!
I doubt that...you actually think the auditores would get punished and the companies go free...wow!..no wonder wall street is in trouble...and the public thinks the game is stacked against them!
The Yahoo Finance Report reads as follows:
The SEC Is Conducting A Wide Investigation Of Possible Chinese Stock Fraud
Fraud has plagued several Chinese IPOs in recent years.
China Energy Savings Technology, Fuwei Films, and China Water and Drinks, after they listed here, were found to have engaged in fraud.
Fuqi International received a delisting notice from the Nasdaq, and manufacturer Rino was delisted after it admitted claims about certain contracts were fake.
China Life Insurance was plagued by $652 million in "financial irregularities" months after it floated
Plans for listing China's only privately held bank were delayed after the firm admitted faking a shareholder meeting; and the IPO of retail giant ITAT stalled due to doctored sales figures and shoddy accounting.
So it's no surprise the SEC is allegedly investigating accusations that American firms and individuals, with co-conspirators in China, have defrauded American investors out of billions of dollars via specific method of taking a company public: the reverse merger.
The SEC won't confirm or deny the probe, but according to The Street, there's a suspicion that:
[S]tock manipulators have devised a kind of template for stock fraud -- one that exploits fundamental weaknesses in the regulatory apparatus of the two countries -- and now use the template to cheat investors in deal after deal.
Of special concern to the commission is a class of company brought public in the U.S. through a back-door process known as a reverse merger.
In a reverse merger (or reverse IPO), a private company purchases a public 'shell' company and the two entities merge. The publicly traded company is known as a "shell" because all that remains is that firm's organizational structure.
The shell company issues the majority of its shares and gives board control to its new owner, and the reverse takeover is complete. Circumventing all the usual complexities of taking a firm public, now the privately held company is a publicly held company.
The NYSE's takeover of Archipelago Holdings was a reverse merger.
And it's this process by which U.S and Chinese firms are taking advantage of investors, the SEC allegedly believes.
A firm that represents 50 Chinese companies said, "the attention given to the bad seeds is overblown and... 'people have seized on that to go out and attack high-quality companies that have done nothing wrong -- on thin evidence.'" The same individual also acknowledged there has been "financial chicanery by some reverse merger companies."
Read more: http://www.businessinsider.com/sec-probes-china-stock-fraud-network-reverse-merger-nyse-2010-12#ixzz18yXCzuOh
The potential is there I agree IF the reported results are accurate... You down play the fact that the SEC is looking at the auditors...by association that means the companies are also suspect...if the auditor did not do quality work then everything reported is suspect...the market may have smelled this before the story broke and that is why the PPS has not moved...the big institutions and those in the know (market makers) are leary of these small startups being able to produce such results so soon...can you say 1929?
Are these stellar results FAKE? HELP! Commments...please!
Hey everyone have you heard that the SEC is investing Chinese IPOs who buy shell companies in the US and do a RS to avoid scrutiny and enjoy the value of being listed in the US? Yahoo finance has a story:
China Stock Fraud: SEC Probes "Reverse Merger" Network
Posted Dec 22, 2010 08:22am EST by Aaron Task in Investing
Is this what is wrong with HELI? Any comments?
The SEC is investigating the Auditors and lawyers who help do this. Scott Eden says 1/3 of all small caps may be FRAUDULENT! WOW!!!
I pretty much agree...assuming everthing is on the up an up...these kinds of results HAVE to be rewarded by the market. If cash keeps accumulating...the need for dilution is out the window unless mgmt is unscrupulous...the RS planted that idea in investors minds...RSs are usually associated with uncrupulous mgmt...
On the other hand an RS is almost ALWAYS a bad thing...markets DO NOT LIKE them because it signals that the mgmt "does not have" investor interest at heart...and mgmt is capable of doing investors in at a moments notice...so it may take a LONG time for confidence to return to this stock...IMHO...
I share your concern...you would think a stock with such STELLAR results would be the darling of the markets eye...why is NO ONE interested...there MUST be something that we retail guys can't see that is holding it back...I wonder out loud !
Welll...does anyone have any opinions on the fraud and bad accounting stories (i.e. Rino delisted for failing to answer SEC fraud questioins) about Chinese companies. Despite the existence of an "audit" here is the accounting on the up and up? US Legal and accounting professionals are being bambozzled. I see a big down draft in the Chinese market until something happens to re-estblish credibility....comments
All the government support for alternative energy will dry up as of 12/31 2010 and the Tea Party is not going to let any of the subsidies be renewed...so the alternative energy industry will probably return to the duldrums for the forseeable future. (24 months) pending whether Obama is re-elected or defeated and Dems regain control in 2012 or are put out to pasture for good.
Its rare to find a penny stock that engages in a RS from a position of strength. It is usually done to artifically boost the PPS with no underlying strength. Here, if the reported results are credible, this stock should FLYYYYYYYYYYYYYYYY!!!!!!! once the market digests it...also small purchases should generate BIG moves assuming the insiders hold fast...
Good...!!!!
My experience with RS is that the PPS DROPS LIKE A ROCK and its a LONG time before the street has enough confidence to come back to the stock. However, this maybe different in that the company has lots of cash so there should not be any dilution although i see OS went down but no mention of AS...if AS remained at 12B the possibility for dilution just got worse. The facts say it won't happen but who knows but who knows. Mgmt obviusly is hoping that the facts speak for themselves...we wil see.
I though they would reduce AS not OS with a RS...dang!
raysupinhere ... i agree...the potential dilution is massive...and it can happen before anyone gets wind of what is happening...
I guess the question is is the company real. I guess it is but unless you are in china standing outside the HQ you don't know...
Oh Oh....are their doubts emerging about the efficacy of this company. The PPS really ought to be $.50 or so...with the kinds of reports on performance it has released...what is that fish smell...I really really really hope not...the potential is too greate but baby i have seen it many times before...
Unless its a scam ... which i doubt but i have seen it happen...the worst part is we don't have any legal recourse...
Penny...I wonder the same thing!
How do you know insiders are dumping?
I have been taking a beating and making a little money on some of these penny stocks. The whole market for HIGH risk, which is what the OTC and Pink worlds are, has SEVERELY declined for now. IMHO I think this stock maybe the real thing in that it is delivering BLOWOUT results without one "fluff" PR or "horn toot" or any other of the usual stock scam methodologies. The Buffett approach to this is to ACCUMULATE and wait for the market to catch up. I cannot believe that it won't. The 12B AS is worrisome but looking at their results and cash flow it "should not be forced" to issue more shares for working capital. It seems to have plenty. It is just "chugging" along delivering the goods and keeping its mouth shut and letting the numbers do the talking. I LIKE THAT! Maybe this is real. China certainly is tearing the cover off the ball with its country wide performance. It remains to be seen what happens when the Yuan begins to rise, the export markets become competitive again, the US pulls itself from the ditch, the Japanese Yen and the Brazilian Real drop and the price of oil is $150 per barrel. Through all of this I think the Chinese economy will keep humming because it is being forward thinking with alternative energy, mass transit and the concentration of workers and workplaces so that electricity is the main economic bottleneck notwithstanding water and pollution. The income level of the Chinese population will start to generate large amounts of disposable income which will be spent on HELI product line. An additional driver will be the rise of the Yuan which will make domestic products cheaper than foreign. Thoughts...this board must full of sophisticated investors who sit, wait and accumulate like a true Buffett protege. These are only my opinions...I am not a stock advisor...do your own DD
Appears to behave like a PUMP and DUMP! However (IMHO), IF this PIG is REAL and 3/4 of me thinks it is I will accumulate, accumulate, accumulate accumulate. The next ten years is Chinese growth as far as the eye can see. The emerging chinese middleclass will want all the things it sells. Revenue, margins and after tax profits are IMPRESSIVE! It could behave like Baidu or some other stellar chinese performers. SPNG had similar stellar performance and it turned out to be a FRAUD with principles and management arrested and charged with securities fraud. Such charges are not possible here even if it is a scam...the SEC is too weak, feeble and understaffed and with the Tea party in Washingtom Wall Street is BACK in business pump primed by QE2...lets rock! Its only a matter of time...keep your stop loss levels in gear!
Where have we heard that before....?
Because of the risk it is...
Well...what is driving this puny move...will it last?
So the POTENTIAL for DILUTION is ASTRONOMICAL
Volume is steadily decreasing....one of two things...everyone is sitting tight waiting for next report or its a scam and all the players have moved and only fools like me are waiting patiently.
Signals...
you can tell your co-conspirators what to do without a record (phone record , e-mail, someone sees you talking etc)
Thanks moos....
The Auditors Report / Opinion?
A poster on Yahoo finance claimed he purchased a Reuters report on the company and the report listed Michael T Studer, CPA as the auditor. I am trying to do so research on him now. I donot believe he is listed anywhere on the reports filed with the SEC. Does anyone know who the auditor is? If there is one has anyone seen an auditors opinion? I have not and have not been able to find it in the SEC filings....
All of $19K traded today...wow
Is everyone sitting and waiting for the next report? Which will probably be STELLAR. Which makes one wonder...with China's economy being the world's darling and small caps like this one showing so much potential. WTF is the problem?
Interesting that we have a company with $24M in annual sales and the PPS can only generate $17K per day in activity/interest. Hmmmmm! I wonder why? Is it that the chinese are such honorable business men that they don't want to hear themseves talk?
Well...i guess it is safe to label this POS as SCAM...i was the last to post anything since 9/28/10. We all got reamed here!