They had the CEO of the Nasdaq on...CNBC did everything possible to try to get him to say that Chinese reverse merger companies were subjected to less standards than other companies...the CEO repeatedly said "not true", Chinese reverse merger companies are subjected to the EXACT same standards as American companies. Over and over CNBC tried to get him to say something negative...they were totally unsuccessful. Interesting interview, especially in light of the questionable "reports" out from boutique research companies, and a particular shill on CNBC who has repeatedly tried to make a blanket generalization. Nasdaq CEO said "absolutely not true" to the insinuations.
what else should he say ? He certainly wouldn't like to be involved in any litigation because of poor listing standards which haven't been disclosed so far.
It is a fact, that there has been fraud in chinese reverse merger companies and I guess we will see much more of that in the days and months to come but I doubt that Kandi will be on this list. Obviously they don't fake their numbers as poor as they look like.
I like Melissa Lee, but it was a dumb question: "Can you guarantee that there is no fraud in the Chinese Reverse Merger companies?" He gave exactly the right answer (and what I expected) ... "I can't guarantee there's no fraud in the American Reverse Merger companies either!" (both paraphrased from my memory of the interview.)
This boils down to do you trust the auditor as much as anything for any of these companies ... do they do their job with diligence the way they're supposed to. Do they have a tract record?