Mark; You seem to have missed the whole point with the COSO...
First of all; the FACT that SIAF has carved out TRW should give SOME trust, no? At least people would use it against SIAF if they HADN'T, but the fact that they HAVE does not matter at all? Rather confusing...
TRW gained some magical powers? That's your words, and it is also your words that TRW has "lots of cash now". I don't know why you claim SIAF to have said things they never have, or why you choose to use charged words in such a way.
BTW; TRW is not the "same assets" as SIAF owned prior to the carve-out, you got that one wrong as well, and the WHOLE PURPOSE of the carve-out is to get a fair valuation of TRW - it is "slighty" premature to claim that this does not create any real value. How do you know? "Chinese companies" doesn't have the same bias on HK as on OTC, so how can you be so certain that TRW will be the exception to that "rule"?
Front for the operation and quiet bunch of locations? So you're ignoring the fact that people on this board have been to china and seen the "front"? I assume the chinese television company is in on the hoax as well then? If you're trying to imply that TRW is a fraud, then please explain how they are able to not only fool shareholders and professionals alike, but also D&B and ABC!
Speaking of D&B; We have an independent appraisal done by D&B, on behalf of ABC (not SIAF/TRW mind you), who values TRWs net assets way above the market cap of SIAF. Of course, net assets doesn't matter much if they aren't able to turn that into profits... However, we also have a valuation (I beleive it was done by D&B as well, although I would have to check) of a fair value on the same level (if you're interested I can find the numbers, but I don't bother if you're not interested).
What I find mind-boggling is that people would dismiss the D&B-reports (which ABC has paid for, i.e if anything the numbers in the report are conservative) and claim that TRW is worthless without providing any facts or valid reasoning whatsoever. What's your take on TRW fair value, given the net assets, profits or other criterias? (we can even skip the growth story of TRW until we get the loan or the pre-IPO is done)
Ah, well. I'm of for the day. Back tomorrow.
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