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rjm77me
rjm77me vip
P&P Score: 99.94   Points: 616.65   Accuracy: 77.28%   Average Pick Score: 0.89   Annual Return: 32.85% (94.05% since 7/16/09)  

rjm77me's Blog : I will be short of Chinese reverse merger companies in this rally

Date September 1, 2010  Edited: September 1, 2010    Comments Comments (3)    Rate this post Recommend This Post (78)   
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Example
RINO
has had three auditors and four CFOs in the past four years, while restating its financials twice. "Every company has some deficiencies in internal controls," says Woo. "These are newly public companies."
Most the companies do not trade in China and as such do NOT get audited by China regulators.
The stocks just trade as ADR's in US and all the companies are loacted in China and SEC can not do much here any way. China does not accept any request from US or rarely do some thing about it.
So it is buyers beware
One of chinese companies filled income of 23 million and same company filled income of 8 Million in china and CEO says he can explain the difference???? Nice math
Please do your own home work or read barron this weeks papaer
Tags : CXDC AND LIST GOES ON   RINO   CHNR  

3 Comment(s):

Author rjm77me     Date September 1, 2010 15:38 Abuse this post Report Abuse
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stocks like CHNR did not move up on this huge up day
It is like I warned on EXPR about 5 weeks ago - EXPR fared worse than retail sector.
my complaint was three brokers who brought IPO up graded to strong buy with in two days - helping insiders bail out
Author rjm77me     Date September 1, 2010 18:33 Abuse this post Report Abuse
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I will be away for 1 week and will not publish any blogs - see you after a week. i will monitor my trades time permitting
Author rjm77me     Date September 17, 2010 16:42 Abuse this post Report Abuse
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Check out DGW, CAGC, BORN, RINO, CBPO
These companies were formed with reverse Financial Engineering and did not participate in any up side in last two weeks.
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