theflyonthewall.com: LDK Solar earnings don't agree with independent committee findings-Asensio.com
Late last year, LDK Solar (LDK) released the findings of an independent audit committee, which was set up to evaluate a former employee's criticism of the company's inventory reporting practices. The committee found "no material errors in the Company�s stated silicon inventory quantities." However, LDK's Q4 earnings report, released February 25, the company classifies almost $30M of its $380M inventory as "inventories to be processed beyond one year." This is similar to the criticism the company received from former employee Charlie Situ in September of 2007. Asensio.com believes the findings of the independent audit committee are "questionable
These ldk financial guys <i'm being kind> must think these ws analysts are like the no-nothing communist lackeys they deal over there. just dance around an issue, say we have looked at it ourselves and found it to be OK, and don't pay any mind to that other stuff that says its NOT OK.
LDK days of playing games are just about over. these same issues are gonna come up again at the next CC, and the numbers better add up and make sense. They won't, and many more DOWNGRADES AND LAWSUITS are sure to follow. LDK bagholders now know the risk so any 401k's that go BELLY-UP, are your own DAMN FAULT.
From PAID BASHER, yes i shorted this motha back at 44. thanks bagholders !!
Check on http://www.asensio.com . Here he proudly presents himself as a master of short selling.
What strikes me as strange is that his list of his latest reports (since October) consists of 8 out of 12 (negative) LDK reports.
Obviously his only interes is to force the LDK pps down and he seems to be obsessed with (or scared of) LDK.
He could well be one of the naked short sellers that FTD on the SEC regSHO list.
But Asensio's reputation is so sullied that it may be a good sign that he is doing his utmost to blacken LDK, as other parties may start thinking about how many short shares need to be covered.
Looks like asensio got caught with their pants down today. Asensio you're not ML or GS, your opinion won't impact LDK. Like the amateur sheep on this board they probably shorted after the CC and got served today so they put this stuff out.
Welcome to asensio.com a website established in 1996 by Asensio & Company, Inc. (“Asensio”) the first, and as of this date the only, NASD and SEC registered investment firm dedicated to “short selling,” which we call investor advocacy. Importantly, Asensio was dedicated to a particular brand of short selling that involved a unique combination of proprietary trading and public advocacy of its positions.