Replies to post #684 on China North East Petroleum Holdings, Ltd.(fka CNEP

[GorillaGorilla]

LPIH released results on Feb 16th which if you believe GAAP numbers was 15 cents loss. [1]

It opened at 2.29 and closed at 2.53... in the preceeding days it's back to 2.34 [2]. I suspect market is waiting for the future earnings. I don't think describing it as "hammered" sums up the situation properly.

If people believe it made a loss surely the pps should be plummeting? But of course it didn't, since it's an imaginary loss.

Acountancy creates a framework which is meant to explain how the company is doing. Warrant charges would seem to fail to tell the story.

I have no idea how the market will take a warrant loss on the day it announces it's earnings but I'm pretty sure in the long run it going to totally discount them.

[1] http://finance.yahoo.com/news/Longwei-Petroleum-Announces-prnews-1549007467.html?x=0&.v=2

[2] http://finance.yahoo.com/q/hp?s=LPIH.OB

rich

[jimbonano]

Long History
Better positioned
Producing assets
Increased property rights
Guaranteed sales
Drilling rigs/services
Known reserves
Actively producing

I would get on the long side of this one and wouldn't play this one short - -

[ratobranco]

The issue is also, who is trading the stock? LPIH is an OTC stock traded entirely by retail investors who are less likely to understand GAAP accounting and its implications.