China Continental (fka CHCL)

[PrincessLeia]

10-K omissions and errors?

CHCL's 10-K for 2001 shows issuances of new shares (page F-6) on November 19th and December 14th at a price of $0.04. This makes no sense whatsoever. CHCL may have had a legitimate business reason for temporarily concealing the true amount of new capital being raised if it were in negotiations to make large purchases and did not want the other parties to know the extent of its financial resources. However, there should have been some note stating that the price was preliminary.

Yesterday, WHB emailed Harvey G. for clarification about the actual present size of Dongwu Farm. No response has been received yet. Under Part I, Item 1., the size is given as 252 square miles rather than 156 sq. miles.