They did everything right, but the Auditor is throwing up barriers at the last minute due to some land-rights evaluation issue (Earlier this year, they took some land-rights for some A/R value as a trade).
Holy crap haha.. their auditor isn't Madsen and Associates is it? lol..
Then at the last minute the auditor threw up "barriers" like you just said about the land-rights evaluation. They made SIAF write off $19.6M in 2006 and $6.7M in 2007 of goodwill based on the land-rights acquisitions. The CEO was pissed and fought it, ended up loosing the fight and it ended up delaying the filing a whole year. Now he has to audit 2008-2009 lol before he can file.
Fwiw, had the auditor not made SIAF write off the $6.7M in 2007, their audited balance sheet and EPS would have been much much higher.
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