bradford86...reply to your private message......
I only have a free member status on IHUB, so can only reply through this public post.
MCI worldcom scam: I gather from the tone/language in your message that you are definitely leaning toward the "RHGP is a scam" side of the fence. I've followed RHGP since it first went public and nothing in its past/current filings leads me to reach a similiar view.
The growing accounts receivable is obviously an area that any investor should be aware of and monitor. But I think it may be too early to declare RHGP as being a "scam". Sometimes these types of financial issues have a way of working themselves out or a point is reached where it just no longer becomes a determining factor to investors. Unless I'm mistaken accounts receivable is something that has "plagued" other China stocks that have gone on to perform well.
As somewhat of an aside: Over the last year or so it has been kind of interesting to note how many China stocks with "problems" or "issues" have actually turned out to become fantastic performers, at least from a share price standpoint. For example, I distinctly remember earlier in 2009 when many investors had a decidely negative opinion on CKGT because the company auditor had a history that made many people very "uncomfortable". Less than a year (and multi-bags) later CKGT is a stock that a lot of people think highly of. Interesting how things/views can change.
Vincent Rinehart: You mentioned that RHGP should be looked at with serious caution because Vincent Rinehart at one time owned the shell that RHGP reverse merged into. While you may have had bad experiences in the past with your Rinehart investments, I guess I just don't really see any significant reason to be concerned about whether this potentially makes RHGP a scam. There are no relationships of any kind between Viking Investments (who purchased the shell from Vincent, and then RM Renhuang into the shell), RHGP and Vincent. And as far as I am aware, following the reverse split prior to the reverse merger Vincent's only remaining financial tie to RHGP was a total of around 5,000 shares of common stock.
Renhuang has been around for awhile and has done nothing: I'm not exactly sure if you are referring to RHGP's business operations or the stock. Granted, from a business operational standpoint RHGP hasn't been posting triple digit quarterly or annual jumps in revenue/earnings like has been seen in other China stocks, but I don't think that should necessarily disqualify RHGP from being a potentially good investment.
If you are referring to the stock, the fact that the share price hasn't done a whole lot over the last year or so can probably be attributed to the fact that the company was deliquent on its filings and pretty much had fallen silent over that period.
As has been shown/proven by many other China stocks in the last year, perceptions can change.
