Replies to post #9101 on Longwei Petroleum (fka LPIH)

[Watcher31]

LPIH under reported earnings, that all I saw from the SEC fines.
Public Record on the SEC settlements...
It looked like they used the license in China to book trades of oil thru the storage location, never said the oil was ever at the location, they just used the license to trade it and make $$$
There did not look like any fines on that part...

So bottom line is they were making a lot of money before the shorts killed it.
Might still be making money as the China Oil Trading license has MAJOR VALUE