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China Education Alliance Inc. Message Board

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  • jtechkid1969 jtechkid1969 Apr 12, 2011 1:51 PM Flag

    With the halt in UTA...

    1, the big problem is the Auditors-they need to be sued and spend some time in jail. Most of these companies were audited for the last couple years obvious not well but investors are relying on third party to look over the numbers. If auditor did there job they would not be listed.
    2, The Banks raised billions for these companies with obvious very little due diligence- These are USA Banks who's expertise was suppose to be China in which they have offices there. What were these guys doing. The only bright spot is the market discounts everything- there will be no more reverse mergers, companies coming out this will have dramatic more transparency,more shareholder friends, and the market is clearing it up right now which is ugly.

 
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