this company's margins are razor thin and with the decline of oil price, their numbers will look even worse next quarter, not to mention the P/E on this thing is already in orbit in comparison with the rest of the China small-cap sector. I have a very small short position, as Ameritrade only had 500 shares available for shorting this morning. I think you'd have to be a fool to buy the stock right here above $3.00
The company or CEO isn't going to be buying back shares, especially since they didn't use the opportunity to do so wayyyyy down lower. Their claim to a $2 million share buyback is total B.S., no different than what many other China small-caps have done. This is one short position I'd be totally comfortable in if I had been able to short the number of shares I wanted to.
On a side note, made out nicely on my LOCM shares today. Sold half at $2.82 and looking to buy them back at some point.