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China Auto Logistic Inc. Message Board

  • r.potter76 r.potter76 Jan 17, 2013 9:37 PM Flag

    CALI- does this mean the company already resolved the accounting issue???

    If anyone here read the FORM 10-Q for the quarterly period ended September 30, 2012--there was some question about the company's INTERNAL CONTROL.

    Actually, every quarterly and annual filing, it seems that they keep promising to remediate the material weaknesses identified in internal control over financial reporting of the Company, and yet they keep receiving SEC notices about non-compliance.

    This is actually a muti-million dollar company, and yet it seems like they can't find someone knowledgeable about US GAAP.

    It is not just the internal control, there are also questions about the receivables relating to financing service--about their policy and whether or not this follows , etc...

    I don't understand why this company just cant' comply. The BALANCE SHEET looks good, compared to most penny stock companies.

    They should probably try investing in presenting reliable financial documents just so they could boost investor's confidence.

    Otherwise, it's kind of difficult to tell whether or not this company's really doing well.

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CALI
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