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Yongye International, Inc. Message Board

  • mcflyjmu mcflyjmu May 27, 2013 8:54 AM Flag

    The Halt

    The interesting thing here is the SEC has not launched an investigation yet. If there is fraudulent activity, generally the SEC is in the lead or becomes notified and opens up the investigation. What is going on may be a case of an overzealous Nasdaq that has been burned many times by fraudulent Chinese stocks.

    Having said that, YONG should continue it's quest to go private whether halted or not. Tying the privatization to being listed makes no sense to me.

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    • What may be interesting to all of us is that there are currently (as of this minute) seven (7) stocks halted by the NASDAQ. Of these seven (7), three (3) are companies in China. What is also interesting is that these three (3) companies in China are the only stocks halted for more than a day or two. Drilling down the two(2) other than YONG have significant issues publicly announced, in their reporting or earns. YONG seems to be the only one that has been keeping up with all of the SEC requirements for reporting and is generating profits. The question is whether the NASDAQ is targeting companies in China and due to YONG having the delay in their 10K report; they go entangled in the NASDAQ net. I guess time will tell.

      There was a China company, TSTC Telestone Tech that the NASDAQ delisted yesterday due to not providing requested information. This company was halted in April and was delisted June 3rd only about six (6) weeks later. Obviously, with YONG being halted in excess of ten (10) weeks, the NASDAQ doesn't yet feel that delisting is appropriate at this time. All we can do is hope that YONG continues its dialogue with the NASDAQ and the NASDAQ eventually is satisfied with their answers. If or when YONG gets through this in one piece, I feel that if will enhance their credibility significantly and that is why the NASDAQ is making sure every "I" is dotted and "T" is crossed. Once YONG is cleared by the NASDAQ their legitimacy becomes unimpeachable. It would be like the NASDAQ endorses them, and that is something I'm sure the NASDAQ would not do purposefully. IMHO

      Sentiment: Strong Buy

      • 2 Replies to wtd1776
      • On the other hand, is doesn't appear that NASDAQ is over aggressive in targeting Chinese countries. The reason I say that is there are currently 127 Chinese companies listed on NASDAQ. If three are halted, that means 124 are not. There must be something that makes YONG's numbers more questionable to NASDAQ than the other 124. YONG adopted a revenue recognition policy that makes it impossible to forecast earnings and revenue in upcoming quarters. It also makes it very tough to compare results to a prior years. The CFO said at the conference call he did not know if the company hit Morgan Stanley's price targets(that should be pretty important). The company also couldn't come to agreement with KPMG with regard to their last year end numbers. There are lots of places YONG could be more clear with their numbers.

      • its about to get the good housekeeping seal of aproval

    • except, the longer they are halted means they can not supply the needed information, which probably means they might be guilty of some fraud. then there will be lawsuits upon lawsuits and the people wanting to take it private might have some big second thoughts as they do not know the liabilty that can hit the company. if it stays halted long enough and is eventually delisted, shareholders will be scared and there will be a big selloff if it opens on the pink sheets. stock price will sink, buyout offer maybe delayed or canceled. no one wants past fraud b... s..... . it is not good, the longer they can not show everything is kosher.

 
YONG
7.050.00(0.00%)Jul 3 1:00 PMEDT

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