When a company is in default there is no official proof that what a company states it's AS is it's actual AS. Example QTMM went into default with X amount AS. While in default QTMM raised it's AS shares. When QTMM came out of default it had Y more AS then when it went in. So while a company is in default how can an auditor sign off that AS represented in a 10Q or 10K financials is accurate? PS The scandal didn't stop one of the biggest companies in China from hiring him. And he delivered.