I've been trying to research the facts presented in the video.
At this point, I'm not able to duplicate the address search and find the building on Google maps. But, it seems to me that if they were at the wrong address, it would have been very simple for CEU management to post pics of the correct building with their rebuttal facts. The fact that the address of the building is not disclosed in the 10-K and that management has not provided a written and detailed response to the video certainly leaves me very uncomfortable.
I'm also very concerned about the audits having been conducted by a very small CPA firm in New York with no clear expertise or physical presence in China is problematic for me. I've been burned before by small CPA firms needing cash -- without any deep pockets to protect and likely without meaningful error and omissions insurance.
I'm also concerned that the young CEU CFO Mr. Pan just passed the CPA exam a couple of years ago, lives a long ways from China in Oklahoma, and appears to have no prior public company auditing or reporting experience. I suspect he may have stepped into his first career position with his new CPA certificate and gotten in over his head.
I still have a small position in CEU so I hope the video conclusions about CEU fraud are wrong -- but at this point I am quite concerned that their conclusions may be largely correct.