A-Power Energy Generation Systems, Ltd.(fka APWR)

[Ecomike]

CGYV hired Deloitte to replace their auditor 2 years ago, and they went back 2 years to redo the prior annual reports due to mistakes in way warrants were valued, and it took over 16 months for Deloitte to complete the redo of 2 prior years reports and the current report before they were current again. They were already an OTCBB stock, so the ticker just changed for 20 days, then back, but the stock price got hammered for a good year. Then the reports started trickling out, with minor changes in the non-cash earnings based on the non-cash changes in warrant (derivatives) values, and the stock rallied back to old levels. All was much to do over nothing. Being a NASDAQ stock, a long delay could hurt! That is worth discussing. What is the latest status. I thought their reports were current?

APWR is not the only China stock late on its annual report. Seems to be a sector problem, partly because they only do the annual audit once a year, and it seems to delay the reports as the auditor must start from scratch and go all the way back, and the quarterly accounting people are not the same people as the auditors. I think the shorts know that, expect this sort of delay and they time their attacks for the this part of the year each year on the China/US stocks like this one? That is also why I look to start buying now, or at least redo my DD now.