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Gulf Resources, Inc. Message Board

  • holywallst holywallst Apr 26, 2011 12:35 PM Flag

    SeekingAlpha being sued by DEER 4 false allegations

    I hope you know that

    Those that look at the lengthy SA report and say: gee it must be true, they wrote so much, I just have to say, really are you really that stupid?

    SA was short the stock prior to the article, they made multi-millions probably on it, you dont think they can write a lengthy article with graphs and data to fool you, when they know they will make millions of it??/

    By the way, DEER is suing Seeking Alpha for similar false reports and using that report to profit themselves. GFRE should sue SA as well

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    • come on, don't be naive, the guys at gfre are collecting too....oh, i get it now, they are gonna say, now that we made a bundle we are gonna
      go long now for all us dummies and this
      "might" keep the s.e.c off their backs....

    • One day you will realize the best and quickest way to make a lot of money is go to China, investigate these companies, find the fruads, purchase the shares and expose them. Do what they do. You talk relatively easy money. That is it. Do it yourself. Heck w/ Research. Obviously a lot of bad apples out there. Find out the bad apple, expose it and retire. No reason in defending a Fraud!!!

      Sorry to all the longs. I got in this at just over $4 and sold today at 3.31. Not pleased w/ my loss either.

    • it's a lot fun watching little boys panic because they have all their bread in one basket

    • R.I.P.

    • Inappropriate Self-Dealing

      GFRE has a disturbing history of inappropriate self-dealing. Immediately after going public, GFRE purportedly acquired a target company at a massively inflated price. This target was owned at the time by the chairman of the board of directors of GFRE, Ming Yang, and his family. In order to make the transaction appear appropriate, GFRE submitted false financial statements for the target company.

      On February 5, 2007, shortly after consummating the reverse-merger transaction that enabled GFRE to list on US capital markets, GFRE purportedly acquired SYCI for an aggregate purchase price of $18,900,000. The owners of SYCI received 8,094,059 of newly issued shares of GFRE’s common stock and $2.55 million in cash. The value of these shares would climb to as high as $120 million.

      According to publicly available records obtained in China, SYCI was actually far less valuable at the time of the acquisition than the financial statements of SYCI filed with the SEC lead investors to believe. In the following table, we have set forth a comparison between the financials of SYCI for FY 2006 filed with the SEC and the financials filed with the SAIC.

 
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