presented and in accordance with GAAP. The financilas are an accurate representation of the companyies financial condition. All the shorts were screaming scam in 2011 and 2012 and they were padding all their numbers. They continue to LIE LIE LIE.
actually the auditors wouldn't be able to discover any kind of fraud - they are just going through the paperwork the company prepares for them. I have worked many years for PwC and I know what I am talking about.
It would take fraud on a massive scale involving bankers, customers, partners, the entire BOD and the front office, with no one in that group ever uttering a peep about it. There are too many people in this company with real reputations to protect, and that would be subject to U.S. criminal penalties if they were complicit in such a fraud. It's hard to comprehend the possibility of LLEN's partners and customers ALL making up PRs about agreements and supply contracts that were fraudulent. It's hard to believe that many components either would participate or could keep fraud a secret, considering the consequences and what little there would be to gain. As they say in the legal profession, anything is possible, but this appears to be highly improbable.
You worked for PwC and could not figure out the correct revenue for the 228,000 tons of coal production in the first quarter. Oh my gosh and you think we should believe that you know what you are talking about. Get real!
bomb..according to the CPAs I have spoken to..that is the best comment a company can hope for. The shorts(probably one guy with no job and many aliases) have lied and carry no credibility here. We are going much much higher.
Kabani or KPMG reports/"audits" are USELESS
"Although the plain text of audit reports clearly indicates the nature of the conclusion as being the auditor’s opinion based on audit procedures applied rather than a guarantee of the accuracy of the underlying financial data, many plaintiffs have argued that the role of the accountant is more like that of a guarantor of the accuracy of the company’s financial data. Up until now, there was only limited precedent supporting the auditor’s position to the contrary. The Longtop Financial decision, however, clearly articulates that the auditor’s conclusions are to be treated as opinions rather than as statement of fact."