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FAB Universal Corp. Common Stoc Message Board

  • joebigbuck joebigbuck Jan 15, 2014 4:57 PM Flag

    Trading halt.......

    I spent a few minutes talking to IR today, and while there is no new information out there it's pretty clear that the opinion of management is this needs to start trading ASAP.
    That was news to me, as there has been many different opinions as to who originated the trading halt in the first place. After my conversation it was pretty clear it came from the NYSE.
    What's also clear is they are focused on the concerns the NYSE has and have provided them additional information that being is being digested with the hope it will be enough to alleviate their concerns enough to remove the halt.
    It was stated they are in the process of interviewing 3rd parties to begin the independent investigation and their accounts are working on getting the restatements out ASAP. My guess is no way will the NYSE lift the halt until at least the restatements are done.
    They also stated business was going forward and all the statements they made in the last C.C. still apply. Apparently in China no one knows or cares it's halted.
    I'm thinking it will begin trading in another couple months when Q4 numbers are due out. There should be plenty of new information to digest by then both from a long and short standpoint. I'm also thinking Q4 will be a blow out quarter for them, which however will mean nothing if the current issues causing the halt are addressed properly.

    Sentiment: Hold

 
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