Replies to post #48852 on $heff's $tation of $tocks & $olid DD

[read_this_n0w]

Yes, do read the sept news items

-company has been writing off chinese assets for two quarters now with new american mangement in place and new accounting firm

Price beaten down from 3$ before chinese managemen was fired, down to 1$ in july. (Stock is bashed daily btw and book value at the time was 2.5$ or something ) Stock ran up from 1$ to 2$ before august quarterly numbers, those included some 14mln in writeoffs on older chinese farms and chinese accoutn receivables.
Stockprice was shorted down to 1.30 and later a buck again.

As a result some lawfiorm prs that the investigates feed price drop and basically soliciting for a lead plaintiff to hire them. Ambulance chasers imo. Argument was: price dropped sharp and writeoffs were done. So hedgie runs it up and drops it after the cc and as a result they want someone to hire them :p.
So there is NO lititigation,merely lawfirm doing a PR that they are "investigating" and that they want someone to hire them. After first firm two or three others added to that.


late september the company added ceo of kansas saucage added to the board (intended company to takeover by Agfeed) and a two man "council" to do a final checkup on the chinese books, one of the two being the new board member from kansas saucage.
Stock was halted for 30 minutes the monday after that announcement and with info company gave the exchange it was open for trading.

So to me it reads like they are allmost done cleaning their books and joining of the kansas saucage ceo to me signals the intention is still there for the US merger/acquisitions to go ahead.

So to me reads like final cleanout before company will merge/acquire kansas saucage and pine ridge (both US companies)

On a side note: keep in min inst interest is low, so yes price and retail owners are played with... no big dog guarding the stock/value at the moment.