InvestorsHub Logo
Followers 7
Posts 812
Boards Moderated 0
Alias Born 01/23/2007

Re: simsim77 post# 2203

Monday, 08/22/2011 11:10:05 AM

Monday, August 22, 2011 11:10:05 AM

Post# of 2230
Because the stock has once again been suspended by the SEC. when it reopens it will be on the Grey Market

http://sec.gov/litigation/suspensions/2011/34-65178.pdf

The Commission temporarily suspended trading in the securities of Puda because of a lack of current and accurate information about the company. Specifically, (1) Puda’s auditors resigned on July 7, 2011 and stated that further reliance should no longer be placed on its previously issued audit reports dated March 31, 2010 and March 16, 2011; and (2) the Audit Committee of Puda’s Board of Directors has announced that it has preliminarily concluded that evidence supports the allegation that there were transfers by Puda’s Chairman in subsidiary ownership that were inconsistent with disclosure made by the Company in its public securities filings. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (“Exchange Act”).