How's this for starters to get the investigation ball rolling?
TTCM China claimed they owned a power plant.
TTCM China claimed the power plant was generating electricty.
TTCM China claimed they expected $1.5 million in revenue from the power plant within a year.
TTCM China now admits they never owned a power plant.
TTCM China never explained that discrepancy.
TTCM China claimed they had the rights to mine and were going to begin mining vanadium.
TTCM China claimed they expected $7 million in revenue and $5 million in profit within a year.
TTCM China now admits they never mined vanadium.
TTCM China has never explained that discrepancy.
TTCM China claimed to be growing "faster than expected" and had a much larger backlog than the $25 million backlog they had the year before.
TTCM China then issued a series of press releases in late 2006 through early 2007, claiming they were negotiating and had signed some of the largest contracts in their company's history.
TTCM China claimed that several of these contracts were "work-in-progress".
TTCM China then issued a press release several months later indicating they had an almost identical revenue to the previous year.
TTCM China then made an announcement several months later that they had $23 million in backlog that did not include a number of the contracts they claimed they had signed six months earlier. (contracts that totaled around $100 million)
TTCM China has never explained those discrepancies.
There are many other discrepancies.
I believe any independent and objective reviewer of the facts would agree this company needs to be investigated because of what the company itself has said.
I believe the data from Reuters is by itself enough of a reason to investigate the company. According to the Reuters charts, TTCM China is losing money hand over fist, has terrible margins, and, surprise surprise, horrible management effectiveness.
Any objective reviewer of these FACTS would say an investigation is in order. IMO the company should be suspended from issuing shares immediately because of the facts that are already known.
AI
