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Longwei Petroleum Investment Holding Limited Message Board

  • hshinti hshinti Jun 26, 2012 9:32 AM Flag

    Independent Reconciliation on Tap!

    Longwei has also reported that its independent auditor, Child, Van Wagoner & Bradshaw, PLLC, Certified Public Accountants ("CVB"), has completed its field work in Taiyuan City for the tax reconciliation report commissioned by the Company's Audit Committee (the "Tax Reconciliation Report"). CVB is Longwei's Public Company Accounting Oversight Board qualified independent auditor with offices in the U.S. and Hong Kong. As part of the Tax Reconciliation Report, CVB has, among other things, reviewed the Company's management reports and independently obtained information related to income tax and value added tax filings with the PRC's State Administration of Taxation ("SAT"), as well as filings with the PRC's State Administration of Industry and Commerce ("SAIC"). The verification procedures included independent access granted to CVB of the SAT tax system information and a site visit to the local SAIC office in the provincial capital of Taiyuan City to directly obtain Company filings. The Company anticipates receiving the final Tax Reconciliation Report from CVB in July 2012.

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    • Yet here you are - desperately serial re-posting PR on a Yahoo Message Board in an attempt to influence 'a lot of retail investors' for your own financial gain. How'd that work out for that NEP outfit? Proud of your 'influence' there?

      Anyone that needs censored, PR-approved happy news ONLY message board in order to buy a stock shouldn't even be in the markets. I expect RedChip to endlessly promote the stock - that's what they're paid to do. Your futile attempt to control the free exchange of opinions *here* is getting old. Believing that this board actually has some affect on the stock price is outright delusional.

    • LPH has instructed it's PCAOB accounting firm to INDEPENDENTLY OBTAIN the SAT and SAIC data from the CHINESE GVT to conduct and complete RECONCILIATION which will reported in JULY 2012!

      This is an unprecedented action in the Chinese Small Cap Space.

      LPH is the RTO Last STanding. Plain and Simple!

      Very long LPH!

      • 2 Replies to hshinti
      • Piece of history: Naysayers thought the reconciliation wasn't going to be published, LOL.

        Sentiment: Strong Buy

      • "...The Company anticipates receiving the final Tax Reconciliation Report from CVB in July 2012..."

        And there you go... you will only ever see a CVWB 'report'; not a chopped SAIC Annual Inspection, not a chopped SAIC business license, not a SAT tax filing: just an internally-commissioned CVWB REPORT. Admittedly better than nothing, but Toups has not disappointed: "Trust us - look, our auditor even checked!"

        Isn't this exactly where Longwei is right now? "Trust us - our auditor said so!"

        Anyways, this is obviously your clearance for all-caps, exclamation-riddled glee postings for the next month, Hshinti. You and Paul^2 have nailed this with iron-clad, irrefutable, verifiable proof of... well, CVWB's word, I guess. Nothing shady here all along - I am humbled by Cai's commitment to transparency.

        [And I hate to point out the obvious here, but why hasn't CVWB been doing this as a normal course auditing LPH every year? How were they auditing LPH until now - by twitter? So ALL this time, they've *never* done the most basic of independent auditing checks and looked at their client's SAT filings? <sigh...> ]

0.01-0.04(-80.00%)Oct 9 12:05 PMEDT