China Growth Stocks

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AMBO:Company’s internal controls over financial reporting were not effective.
The numbers can not be trusted!!!
a ambo.pk will come to a broker near you. be ready.

From F-20, page 97 item 15:

Our management, including our Chief Executive Officer and Chief Financial Officer, does not expect that our disclosure
controls and procedures or internal control over financial reporting will prevent or detect all errors and all fraud.

Chief Executive Officer and Chief Financial Officer concluded that the Company’s internal controls over financial reporting were
not effective as of December 31, 2011 and that the following material weaknesses in internal control over financial reporting existed
as of December 31, 2011:
• The Company’s oversight of complex transactions is not effective. Specifically, the analysis by management of certain
transactions and the supporting documentation generated are not sufficiently detailed and timely provided to allow the Board of
Directors to effectively review and approve the transactions. In addition, communication between the Company’s commercial and
finance departments is not sufficient to ensure that these transactions are appropriately accounted for.
• The Company did not have sufficient personnel with appropriate levels of accounting knowledge and experience to
address the high volume of U.S. GAAP accounting issues and to prepare and review financial statements and related disclosures under
U.S. GAAP, including, amongst other things, material adjustments to revenue were not identified on a timely basis.
A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that
there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be
prevented or detected on a timely basis. The above material weaknesses could result in misstatements of accounting for significant
transactions and certain financial statement accounts, including, but not limited to, the aforementioned accounts and disclosures that
would result in a material misstatement in the Company’s annual or interim consolidated financial statements that would not be
prevented or detected in a timely manner.