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Fushi Copperweld, Inc. Message Board

  • harrison202002 harrison202002 Mar 11, 2011 7:13 PM Flag

    Guys listen up

    I am a CPA that works on publicly held companies. Accounting is complex (especially tax provisions) and there are CPA firms out there doing work on public companies that are not really qualified and it would appear that their old firm was not. I actually have had several clients in the past that had much worse problems than what appears here some time ago. It appears that the accounting problems here are limited to three areas. That said when you have a restatement the areas that are found that need restating can balloon into additional areas. No one is alleging fraud here. Their CPA firm is mandating that FSIN make these changes otherwise they won't sign off on the financials. The CPA firm is not willing to take on the risk. And the risk is considerable here for the CPA firm (I used to work for Andersen) This company recently changed CPA firms to go with KPMG. This is a good thing and might be presenting you a buying opportunity if you can look out a little forward. That said at least one of the companies that I worked on that had a restatement dropped 25% the day they announced the restatement. So buckle your seatbelts or jump out of the car. Personally I bought more in the afterhours

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    • FSIN presenting at Roth Conference Tuesday at 2;30 PST

    • I wash my hands of you idiots.

      The least anyone will get for their shares is $11.50.

      Ren Tech or Asensio or anybody else playing Baby Games until the deal goes through is pretty darn disgusting at this point.

      It's vile bullying of those without deep pockets by those with deep pockets - and we all know Ren Tech has the deepest.

      I think the Short side's behavior here is now verging on the clearly illegal - not to mention immoral.

      And I really WILL go the Nasdaq and the SEC on it, if it goes any further.

      The "Bird Game" element between a Ren Tech and me makes it even worse.

      I suspended my blog series about the Bird Game, because I thought the Gamers and I had reached a tacit agreement - I wouldn't sue them, and they'd stop harassing me in the Market.

      In just the past couple of weeks, they have come back with a vengeance, why I don't know. New traders? New Botmasters?

      I don't know, and I don't care. But I am not going to allow you to go to ridiculous lengths, on this stock or any other.

      By Monday morning, we will have a timetable for the results and a timetable for the takeout deal being accepted or rejected.

      If no one else brings up the malicious efforts of our Bullying Shorts, then I will.

      I know there are a couple of other cases like this among the China Hybrids, but this one has been by far the silliest and nastiest both.