Zeev's Turnips Patch-No Politics (ZEEV)

[fabian]

conelda...sorry it has taken so long to get to your question on Rino [we did not see it for a while on PM]
We feel like we got hit by a rino with this one.
It's taken such a pounding that at least going by what analysts think, it sure looks deeply undervalued.
What was distrubing are some ethical questions that came to light after the conference call. One of the analysts got an answer or answers to a question that she was higly dubious of.
It cast management in a poor light and were kind of touchy about the ethics of management. Tha along with the poor reaction to the earnings, we frankly should have cut this one out with a loss.
Now that it's in the $13s...we'll hold it for some recovery but with questions about the management, we won't add, not even here although it's highly likely one will make money from a buy in the $13s.
Pretty nasty environment for SC China stocks lately. Even beating earnings expectations from highly thought of managements often have resulted in a qick kick to the rear.
It will end, can't say when though.
It's times like this that we really want to have full trust in the ethics and ability of managent.
One can reasonably expect good recoveries when the time comes and new highs in due time.
thanks
F
Rino has made some changes...mabye to address investors concerns about ethics and ability of the CFO and they appointed a Chief Strategy Officer.
This may help. Hope so.

RINO"), designs, manufactures, installs and services proprietary and patented wastewater treatment, desulphurization equipment, and high temperature anti-oxidation systems for iron and steel manufacturers in the People's Republic of China ("PRC"), announced today that its board of directors appointed Mr. Ben Wang as the Company's new Chief Financial Officer effective April 27, replacing Ms. Yi Liu (Jenny), who resigned from the position of Chief Financial Officer on the same day due to personal reasons. Mr. Ben Wang, age 37, earned his Ph.D. from the Columbia Business School in New York, NY in 2003. He was awarded an M.E. from Tsinghua University and a B.E. in Electronic Engineering from University of Electronic Science & Technology of China. He is also charter holder of CFA (Chartered Financial Analyst) and FRM (Financial Risk Management). Mr. Wang has extensive experience in public company analysis, qualitative and quantitative financial analysis and most recently served as Chief Financial Officer for New Oriental Energy & Chemical Corporation (Nasdaq:NOEC - News), and was previously an equity research analyst at Brean Murray Carret Co., Ltd. Prior to that, Mr. Wang performed risk solutions consulting in Standard and Poor's, and was a senior equity research analyst at Century Securities Co., Ltd. based in Beijing, China.

Additionally, the Board of Directors also appointed Mr. Harold Epps, as the Company's Chief Strategy Officer. Mr. Harold Epps, age 47, is also currently the President of RINO Technology Corporation, a wholly owned California subsidiary of RINO. He was awarded a Masters of International Management Degree from Thunderbird School of Global Management in 1993 and an MBA from Arizona State University in 1992. Mr. Epps has extensive experience in International merger and acquisitions, strategic planning, business development, and capital markets. He will be responsible for assisting with the architecture and implementation of RINO's growth strategy both in the PRC and abroad. Mr. Epps will complement Mr. Wang's expertise to jointly drive decision-making to create medium and long-term operating and financial improvements. Prior to joining RINO in 2009, Mr. Epps served as VP and Senior Business Development Officer for the CIT Group's International Trade Finance division.

The Company also recruited an assistant to Mr. Zou, RINO's Chief Executive Officer. This candidate has extensive experience in the U.S. capital markets and will assist with all shareholder and corporate communications. In addition, the management team expects to add a new financial controller who is a CPA and has U.S. GAAP experience, in addition to an internal auditor with SOX 404 experience. Both candidates will support Mr. Wang while expanding the breadth of depth of RINO's finance team.