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Longwei Petroleum Investment Holding Limited Message Board

  • hshinti hshinti May 4, 2012 8:48 AM Flag

    LPH Earnings CC May 15 10 a.m. EST

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    • It does not take a top financial analyst or even a good accountant to see big problems in the reported earnings of the company.
      The quarterly earnings are not audited and a quick look can see many problems.
      The most obvious is they are saying revenue is higher yet operating expense is 35% lower.
      You just do not have higher revenue and have such a big drop in operating expense.
      There appears many more problems but that is the most obvious and because of likely false reporting both the CFO and the auditors will not do the reconciliation where the CEO allowed comments it would be done months ago and anyone could do the reconciliation in a matter of days.

      • 1 Reply to ja546
      • JA : Then sell and get out. What you described makes no sense. This company has had SEC reviews twice before for the past two acquisitions and LPH passed mustard then. Unless you can bring more to the table than your own week analysis then I suggests you sell and move on. I for one am looking to add to my position here. This company has no debt, and is purchasing their new facility with cash. This business model is just not very sexy and pretty predictable. So there is no need to cook the books as you suggest. You are just plain wrong and that is it. Maybe you have ulterior motives, because it seems you are just trying to talk the stock down. Maybe to buy at a lower price who knows but your analysis just does not make sense. I do not share your fraud concerns.

    • It will be interesting to see if the CEO wants to continue to post false quarterly income statements to show flat earnings year to year likely causing both the CFO and auditor to not do the reconciliation.
      Will be looking again at the operating expense to see if it is again down more than 35% from last year.

      • 2 Replies to ja546
      • JA546: When you post such allegations “CEO wants to continue to post false quarterly income statements to show flat earnings year to year likely causing both the CFO and auditor to not do the reconciliation." you need to prove your case.
        First of all you have to remember the CFO is an American citizen and the company he works for is listed on the AMEX/NYSE board. That means he is subject to criminal action in the US if he knowingly and deliberately files false reports. So when you make such allegations I think we need to see your proof. Just saying does not mean it so.
        You need to be a lot more forth coming with your facts because you just come across as short basher.

      • rosebowl@rocketmail.com rosebowl May 4, 2012 11:25 AM Flag

        JA546 is again posting false accusation against LPH management in attempt to spread FUD against LPH.
        He has no proof, just rumors and lies.

    • rosebowl@rocketmail.com rosebowl May 4, 2012 10:09 AM Flag

      Hopefully nothing new will be announced, which will aggravate the heck outta the flippers and traders and prompt them to sell.
      I need more shares at the current or lower prices.

    • Not quite. LPH is an accelerated filer therefore should have its 10Q report deadline 40 days after quarter end = so they should report on 10th May the latest and have conf call probably next day.

      15th May conf call suggests that results will be reported on 14th may. So, aren't they accelerated filer yet?

      Requirements by SEC:

      http://www.sec.gov/answers/form10q.htm

      • 1 Reply to marek602
      • Toups has stated on almost every call for the last few that they are an accelerated filer. So....they may be filing on the 10th, but not having the CC until the 15th. This will give Mr Toups a chance to prepare complex responses such as "yes we are still working on that", "I don't know", and the classic "no one is more frustrated with the pps than the controlling shareholders". They are always delivered with such commitment and passion that they just never get old. I for one can hardly wait....

 
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