CFO permanently barred by PCAOB from any registered accounting firm
The present CFO was with LTUS and WEMU.Is that relevant? Is the history of the auditors important in the Chinese RTO space? One should welcome all trueful posts about LPH accounting.Respect all warming signs,even the smaller ones.LPH has many.
I sold with a nice profit many months ago after watching the dangling carrot games from April 2011 to January 2012.
If this goes through, good luck to all. However, the RTO space is full stocks that dropped 80% because things didn't pan out as was promised, not to mention cases where the facts were fraudulently misrepresented.
Sure there is an underlying business, but no one can truthfully say they can verify the deposits on hand with refinery suppliers or the escrow deposits. In the land of China, inability to verify is part of the game, and part of the risk. GLTA.