Certainly, there will be questions asked about the upcoming 3rd facility and how its going to get done.
I am developing a circumstantial case through various sources about the final denouement in this drama/farce. that leaves me less than sanquine.
The questions that concern me however are related to RedChip toadie and now defrocked former CFO James T. Crane and his tenure at LongWei Petroleum.
In private conversations over the last few days some very smart folks expressed extreme reservation about his tenure in regard to the quality and accuracy of his numbers.
Former CFO Crane appears to be in quite a bit of trouble right now and certainly a line by line look back at his numbers for LPH is REQUIRED if there is to be an end to the speculation about LPHs books.
Going back a few months LPH met with Ernst & Young at a forum run by RadioAvtiveCHIP. Did E&Y take a look at Cranes work and decide to pass on taking LPH on as a client ?
In addition, Assurances have to be given that the 75% owners of LPH are not about gut LPH by removing the value here and placing it in a Chinese shell company out of the reach of US investors AND regulators (see the very alarming Yahoo/Alibaba news)
In closing, it is my understanding that the ranking officers of Puda Coal and LPH are friends.
The recent incredible series of events concerning Puda's CEO selling half the company right out from under US shareholders could not have gone unnoticed by his pal at LPH.
Imo, this is all going to turn out to be a massive home run for LPH share holders if the numbers and paperwork match and the CEO has no intention of pulling a Jack Ma type robbery
Or it could end with US share holders holding worthless wallpaper in a US shell company devoid of any value after the LPH bigwigs decide to move the assets to a Chinese holding company.
The reason I went from one of the biggest private LPH share holders down to where I am now is based on the above reasoning.
In closing, the Yahoo shareholder robbery almost took me out of this investment on Friday and it still might on Monday.