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Gulf Resources, Inc. Message Board

  • mrgaming99 mrgaming99 Jan 3, 2013 1:22 PM Flag

    THE DEVIL IS IN THE DETAILS

    As a forensic accountant, the validity of this company's financial statements can be found in many unsuspecting areas. Why did no one look into the meager salaries drawn by the officers of the company for a company making millions of dollars per year. In the last proxy statement filed, the CEO (the highest paid employee) earned $46k in salary, no cash bonus, and this is the highest amount earned in the past 3 years. This would imply the company does not have the cash ($58 million) or the $11 million in earnings (last 9 months) it purports to have. Forget the stock option awards -- it is not cash. Trace the cash. Where is it? The Devil is in the details.

    Sentiment: Strong Sell

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    • "As a forensic accountant," ROFLMAO!!!! He must be more of a "foreign sick bean counter"!!!

      Sentiment: Strong Buy

    • possible explanations are:

      1, CEO saving cash for possible going private plan
      2. CEO not taking salary due to a class action lawsuit filed for secuity violation laws (still unsettled)
      3. CEO may be paid from one of the related companies
      4. company is giving generous payment terms to customers which causes liquidity issues
      5. company is saving cash for M&A
      6. CEO doesn't need the cash, independently wealthy

    • Company CEO Age Pay

      GURE Xiaobin Liu 45 45K

      CCCL Jia #$%$ Huang 55 20K

      ZSTN Bo Zhong 62 44K

      CPSL Tak Tai Li 33 84K

      CHOP Mingwang Lu 62 18K

      TSTC Han Daqing 49 80K

      OINK Hanying Li 62 50K

      SHZ Xiao-Jing Yu 56 294K

      ZOOM Lei Gu 50 216K

      YZC Yingmin Zhang 60 32K

      EDS Shuipan Lin 45 42K

      ALN Si Chen 50 0K

      CHGS Shunging Zhang 59 77K

    • LOL! There are some CEOs of American mega cap companies that earn $1.00/year and their companies are loaded with cash!

      Sentiment: Strong Buy

      • 1 Reply to cancel190
      • I see the short interest is still using the same short logic. Excellent. Now if they could only provide EVIDENCE of wrong doing, I mean, it's only been two years since the allegations of fraud slammed the company down and made Kerrisdale a fortune...two years...two years....two years...two years....two years...two years....and still no evidence has surfaced to support the bogus allegations....AMAZING.

        I'm LONNNGGG

        Sentiment: Strong Buy

    • As an account, which i am looking at yhr balance sheet we can see the outflow a cash grom the balance sheet, it did not go to shareholders in any incentives or kind. The money hasn't been reinvested to promote growth. The return on investment has been none existing. We see that in the share price today. Living in China for 3 years, my guess the owner will want to buy it back cheap cheap chaep, Chinese buy things at rock bottom bargains. I seen it befor and muchy patients is required with ths one. Buy on the Dips.

      Sentiment: Buy

    • As a forensic accountant same as your claim, see the following:

      When you compare the salaries to other legit Chinese RTO's they are right in line.

      Another way of looking at it: Chinese workers make on average roughly 5 times less than American workers ($2.75 per hour versus $13.75 per hour). To compare the two you'd look at the salary times 5 or roughly $230K in the case of the CEO which isn't all that different from small cap American companies.

      I'm surprised a forensic accountant would take a base salary figure and look at it at face value without doing any research.

      • 1 Reply to sigtaushanksta
      • The Chinese worker makes less because their companies are not as profitable as US companies. $11 million earned in 9 months is a bad year for this company based on its statements and only pays $46k to it most valued employee. Trace the cash -- oh they just used it to make a related party purchase. Funny how that cash is only spent that way. No dividends, no bonuses, very fishy. What does the CEO of Baidu earn?

        Also, stop the absurd comparisons to Apple. Their stock is at least worth the paper it is printed on.

        Sentiment: Strong Sell

    • so let me get this straight...according to your logic Apple's CEO Tim Cook (remember Jobs famously took only $1 in salary) only earned $900,000 in salary. Since that is an infinitesimally smaller percentage to apple's cash position as compared to GURE's CEO to GURE's cash position, Apple mustn't have the cash either. Of all the dumb arguments that people have made about this stock, this is about the most ill reasoned I have come across. It is so stupid (and I rarely use the word), that I don't think it was ever brought up when fraud allegations were flying everywhere for this company. I don't think I've ever had more cause to ignore user than seeing your statement. Goodbye.

      Sentiment: Buy

    • ceo earned modest salary imply that the company does not have cash?

 
GURE
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