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kindama

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kindama

Re: tbirdman post# 4921

Friday, 10/04/2013 10:41:07 AM

Friday, October 04, 2013 10:41:07 AM

Post# of 10144
Re: CNIT

This looks suspicious to me.

The company had only $8mm in cash at 6/30 and used $13mm of cash in 1H13.

The stock is trading at 2.5 times tangible BV.

The company has been losing a huge amount of money.

The CEO was buying stock year ago around $1. The company changed form being a US corp to a foreign private issuer. As a FPI, it is not required to disclose insider trading.

It looks to me like there is a strong possibility this news is intended to facilitate insider selling.
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