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ecorunner

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ecorunner

Re: Al4343 post# 50060

Wednesday, 04/16/2014 3:36:57 PM

Wednesday, April 16, 2014 3:36:57 PM

Post# of 64649
In 2013, the company acquired 100% of Surf Investments and entered into a series of lease arrangements through XuFu which was previously consolidated as a Variable Interest Entity. While the lease agreements are still in force and generating revenues, the company is working with XuFu to ensure that sufficient operational and financial controls are in place to warrant consolidation and has de-consolidated for the purposes based upon the suspension of the management and related agreements creating the VIE. It is expected that this will be resolved in the second quarter of 2014.

We are in the second quarter. it will not be a long wait for a solution.
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