Anything new going on out there Dealer or Harry? This board is dead and your buy assesment Dealerr (although I know you meant well) was incorrect. They may be getting more web traffic but it sure is not translating to sales as their sales are almost non-existent.. Please let me know what our options ar as this is really depressing. Are they a fraud or not?
There is no news - but like the rest of the world; consumers in China - the middle class/working class is in a recession like they are in the U.S. If EU starts to recover in the second half of the year - China's biggest trade partner; spending for CEAI will increase. I have to idea if it going to be online like before which had a super big profit margin or their brick and mortar schools spread out all through China. But a recovery will help CEAI.
Hard to say if it is a fraud or not; I have no idea why the changed accounting firms. I think the one person in the CC kind of avoid the question because CEAI is in rough shape right now. But they went through three CPA firms and all said it was okay and along with two CFOs too. After that; I assume they at least have the CASH which is the main attraction to this stock. I do not like the negative losses which drains about half of the cash due to online development project along building additional new schools. The rest is depreciation and overhead like staffing, etc... I think in the second quarter they will loose $4-6 million and in the third it could be $1-3 million. 4th quarter should be in the black!
my buy sentiment still holds and now more than ever (am not saying this to defend my opinion), if they launch their cloud platform they will be way ahead of competition, hope they will launch it soon anyway.
second :other online education companies are going back to track so as i said the education sector is not a bubble that will burst ,it has a steady growth and particularly in China its rebounding quickly especially the online education.
third: if they are fraud why they are still in the market ,they already took 25m$ or more in IPO ,why didn't the ceo dumb all his 12m shares at the time on 5$ or more,why didn't they buyback the whole company on 1$ it woudn't have cost more than 5m$ ,and they can enjoy the rest.
forth: on the other side yes they are apprentices in whats related to world accounting rules,some of their mistakes are unforgivable ,they are weak in whats related to PR,and for sure they don't know how to maneuver with their PPS,this all that i have to say ,i can't do anything but wait.
I really hope you're right dealer but it is very messy and painful to us stock holders in the meantime. Also, Why didn't they do a one time dividend or buy back more shares before they lost their NYSE status. They should have been all over this as the OTC is almost the same as being completely de-listed or bankrupt. Companies that are clear frauds such as HEAT and SCEI are both still on the OTC from the NASDAQ as well. It also seems like most of these small cap Chinese do not play by the same SEC rules as most US based companies. Maybe its a cultural thing but I'm not sure why its such a mess. JDT,