Replies to post #56113 on China Growth Stocks

[Rames]

BORN - if what you conclude as likely is actually true...

- BORN lied about their technology
- BORN lied about their margins
- BORN lied about their taxes
- BORN lied about revenues and earnings

Then this would be a major scandal - completely unrelated to financial sharks and reverse merger tricks. We would have two second tier investment banks (Piper and Cowen) either colluding or utterly failing doing the most basic due diligence preparing the IPO. Both came out this week defending BORN. Heads will have to roll... And all controlling authorities, from the SEC to NYSE, the committees and auditor, would be in severe trouble as the magnitude of this could (at least should) not possibly have gone unnoticed. This is a NYSE IPO and not some former penny stock uplisted silently after a reverse split etc.

I don't know anything about the process of making edible alcohol, can't possibly judge who is right or wrong here. Just saying...

[derek2000]

BORN Little

I downloaded and read through the "contract" per Mr. Little's link. There are two documents per Little's link, one Chinese and another the English translation of the Chinese version.

Unlike what Mr. Little described in his blog, the so called "contract" is not the actual contract at all.
The document is from Wantong Machinery, which could be bidding BORN's project. It is kind of document that you normally find in an early stage of bidding, but could become a attachment in the final bidding package.

There is no indication that BORN had awarded the contract to this company.

In addition, I am trying to figure out if the machine described within the document (the "contract") could be a pre-processor for what BORN is doing, not necessarily a replacement for BORN's existing machines.

I have no position in BORN, and do not plan to go long or short until BORN is below its pre-October level (less than 8). Just want to check how much meat Little brings to the table.

PS. Link to the documents

http://cid-5a008536448fa3aa.office.live.com/browse.aspx/Borun