Replies to post #2989 on Longwei Petroleum (fka LPIH)

[bradford86]

I've had people try to buy my warrants for $0.75

that's effectively the right to purchase at $3.

I said no.

[rjp]

Hey Fernando,
I really appreciate you posts as always. Did you visit LPH on your China trip?
What's your veiw on management if you met them?

I'm a little concerned with their accountants - Child Von Wagoner and Bradshaw, small company of 25 partners and staff and got bad raps from the PAOCB for previous Company audits done in both 2009 and 2010.
Does this really mean Child Von Wagoner is not up to it? I notice PAOCB also found fault with Deloitte audits for instance.

What do you think. Should they get a better auditor?
I think they can afford a top 20 auditor now but it seems as if PAOCB look hard enough, they'll find faults in most audits anyway?

http://pcaobus.org/Inspections/Reports/Pages/default.aspx