Value Microcaps Motherboard

[jtomm]

CAGC: Concerns

Reportedly has Same auditor as BBC, and the guy who reverse-merged CAGC public will no longer talk to Herb Greenberg.
(read the whole thing, including comments, to keep it in context)

http://blogs.marketwatch.com/greenberg/2006/10/bodisen_bruhaha.html

Len, I'd noticed this one awhile back, but must say that the connections, even if distant, to some of these other chinese fiascos kept me from buying. The balance sheet is great if it's true. But CESV seemed to have a great balance sheet too. CAGC having same auditor as BBC concerns me.

Those 100% losses on an investment can be bothersome. lol

Another thing that concerns me is the website. Not saying it absolutely has to be a scam, but just some concerns. Notice that they are not really trying to sell product. Lots of handy stuff for investors though. Ticker symbol on nearly every page:

http://www.chinaagritechinc.com/index.htm

Vague descriptions of their products. No pictures of management. Almost looks like a template website that could be put up in 30 min. Compare the CAGC website to a Canadian company website in similar biz, Hanfeng Evergreen. Pics of management, pics of product, concerted effort sell product, deals with majors, etc:

http://www.hanfengevergreen.com/index.php

And another thing I found concerning is you can hardly find anything on the internet that isn't basically just a reprint of one of CAGC's press releases. Couldn't find much in the way of independent verfication.

Also, (this is from memory, may have changed now) there was no independent directors on the board. And no audit committee. That's the way you'd want it set up if you were trying to pull a fast one. And from what I recall, there was also something screwy about one of the key employees was working for free, yet owned no shares, and wasn't related to anyone. Like I say, that's from memory (may not be exactly correct), but some pretty flaky stuff at one time, IMO.

Who knows, might be a perfectly legit company, but just seems like a few red flags to me.