Replies to post #7296 on Longwei Petroleum (fka LPIH)

[viking86]

my point was, empty or not the Haujie facility had plenty of whistles and bells to be worth the 115m it was appraised at. They sure didnt get it for free.

I didnot follow this stock on a daily basis but I know they had the 85m cash for a while as cash balance from previous years (at least per their reports) and had it as a deposit for Haujie for a while until they came up with the balance from the cash flow of H2'12. If they didnt have any business from Taiyuan and Guijao, how in the world did they acquire Haujie? Was it just given to them for free or what? Did Toups also work for them free and paid everything out of his pocket....?

[faxedreceipts]

I remember Toup's saying that the 86 million was verified by the auditors. That boy better lawyer up.