I'm coming at this stock as a short term trader. I bought the oct call options anticipating a pop, which there was for about 2 days and then the price quickly went south due to the delisting info. Not sure if i want to be an investor (long term)and I can't comment on what the true intentions of management are. However, i do think they probably knew that they weren't going to meet the NYSE deadline as far back as spring. As i understand, the differences between the Indian GAAP and US GAAP are minor. Unlike US GAAP the Indian GAAP is not required to go back to 2001 to restate financials. I think they just have to go back to 2008. To go back and audit to 2001 is quite a task and if slight mistakes are made in restating the financials then they will be constantly updating and restating financials, it could go on for a very long time.
If i was going to buy long term then I would wait to read the financials on Wed. Sept. 29 and make a prudent decision. Yes, the price may spike but you'll have a much better idea of the company's financial strength and guidance. Price movement for the these next few days is just based on speculation.
In my best estimation management is focusing on the immeidate operations and long term growth of MT and SAY. They could uplist to the NYSE in the near future. Again, just my opinon from what i've read.
AI
