That statement is an obvious mistake Mike, and clearly shows the unprofessionalism of these firms.
That statement belongs in the class action lawsuit against CCME, which is accused of misrepresenting their numbers as it related to bus advertising. Thats the only thing I can think of that makes sense.
I am out of CBEH for now, I held it way too long on the way down figuring that the company would have a quick and strong response to early allegations. The Alfred Little videos really put a lid on any comeback for CBEH stock after they responded to the first round of allegations. Every day CBEH remains silent in their own defense is just hurting the PPS all the more.
I bought CBEH awhile ago when they "upgraded" to KPMG. Then KPMG signed off on a very strong 10-K. Then the original allegations of misappropriated funds and nefarious transactions were announced, and I figured, if this is true than how could KPMG miss this? I sided with KPMG but the silence from them regarding this whole mess got me squirreled too so I sold for a heavy loss.
Too much remains to be countered by CBEH for me to get back in even at this level. If Alfred Little is actually correct about the misrepresentation of biofuels produced and the associated numbers than CBEH is in for a delisting and KPMG is given a black eye.
That said, I am still heavily invested in GU, also audited by KPMG, and if interested take a look at the historical PPS and EPS when peak oil was in effect and realize that all six plants will be up and running soon (three or four have already been fired back up), the copper recycling facility they purchased in the bad times has been putting out good numbers and margins, and when looking at the historical PPS and EPS bear in mind that a 5 for 1 reverse split took place last year to keep compliance and listing on the NYSE.
If history repeats itself here GU could be trading at eighty bucks next year. Heavy institutional buying has been occuring since Nov 2010. It will take some time before the big earnings start showing up again but by the actions of MGMT to remain solvent thru latter 2009 and 2010 really impressed me. They kept a good grip on their cash from 2008 and diversified and didn't panic. They are also no longer subject to value added taxes announced Dec 26, 2010 and back taxes paid in the good times have been refunded, to the tune of around 14M back in their pockets if I remember correctly off the top of my head.
malc
