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GT Advanced Technologies Inc. Message Board

phoenix_goal 11 posts  |  Last Activity: Aug 21, 2014 9:57 AM Member since: Oct 23, 1998
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  • Today's Vancouver Sun has the story.
    Huang has been released from Chinese jail and returned to Canada.
    Search Huang Vancouver Sun for story and video.

  • Reply to


    by maxmeili Aug 15, 2014 1:27 AM
    phoenix_goal phoenix_goal Aug 17, 2014 4:10 PM Flag

    Au contraire, the 10K that was filed showed an increase in sales with a good profit margin and most important over $3/share cash with minimal debt. The SEC is who you could attack for the unreasonable request imho to reaudit 2009 which has apparently delayed 2012 and forward. KPMG accepted 2009, that should be good enough for the SEC.
    Please post the "negative words from Markscheid", this is news to me and quite frankly unbelievable from a current Director of Jinko Solar. Speak truth my man or be silent!!!!
    Any thoughts on Jon Carnes upcoming hearing with the Canadian SEC in BC?

  • Reply to

    This one should comes top

    by royal_th Aug 7, 2014 11:57 AM
    phoenix_goal phoenix_goal Aug 7, 2014 5:27 PM Flag

    The other China stocks did not have Loeb & Loeb and Shearman & Sterling representing the company. Loeb have been on the job now for close to six years. My strong belief is they would have ceased acting long ago if they had any concerns. I see your sentiment of Strong Sell has been removed.
    Just to refresh your memory this what S&S found true.
    "InMay 2011, the Audit Committee engaged Shearman & Sterling LLP to lead the independent investigation into these allegations. Each of these allegations was thoroughly investigated. While some issues remain as to production at the Company's Tongchuan biodiesel facility, and while the investigation revealed the need to strengthen internal controls and take similar measures, the primary substance of all other allegations has been proven groundless. Sales of biodiesel accounted for approximately 17% of the Company's revenue in FY2010. The Committee applauded the Company for its full cooperation given throughout the investigation."

  • phoenix_goal phoenix_goal Aug 7, 2014 1:21 AM Flag

    Lesspheus, KPMG withdrew their opinion because of concerns over management representations not the numbers. The new auditors confirmed 2010 and 2011. With the class action dismissed which I think was a big issue for Gao, I expect we will see audited financials long before Oct 31. The cash is in the bank, the operations are real and Gao owns half the company. He received close to $20 million from secondary sales prior to early 2009, he founded the company, yes the bio diesel ops were likely a tax scam but those days are long gone. Perhaps you may wish to help out Jon Carnes when he faces the Canadian SEC this fall.

  • Reply to

    No changes.

    by royal_th Jul 29, 2014 11:26 AM
    phoenix_goal phoenix_goal Jul 31, 2014 9:37 AM Flag

    Likely because they still own enough prefs that can be converted to common.

  • SHANGHAI (Reuters) - Major Chinese banks have temporarily suspended a yuan remittance service after a state broadcaster accused the country's fourth biggest lender Bank of China (BOC) of allowing wealthy Chinese to launder money offshore through the scheme, the Wall Street Journal reported on Tuesday.

    The paper, citing unidentified sources, said Bank of China, Industrial and Commercial Bank of China Ltd (ICBC) and China CITIC Bank Corp had halted the service which had been approved by the central bank about two years ago.

    A Bank of China source with direct knowledge of the matter said the bank had temporarily halted the service.

    "The bank understands that there are management and risk control issues with the program, especially in relation to the junior employees involved," said the source, who declined to be named.

    Public relations officials at Bank of China and ICBC could not be reached for comment while a CITIC Bank official refused to comment on the Wall Street Journal's report.

    Last week China Central Television (CCTV) aired what it called an undercover investigation program that uncovered a little known service called "You Hui Tong", which allows wealthy Chinese individuals to take part in investment emigration programs in other countries to move cash offshore in amounts that exceed the annual cap of $50,000.

    The program quoted an unnamed BOC source who said the scheme was kept a secret because BOC knew it was illegal, but BOC denied the allegations.

    The news prompted the country's central bank to look into the allegations, according to the official Xinhua news agency.

  • Reply to

    6/24 Court Meeting

    by ss08852 Jun 24, 2014 8:40 PM
    phoenix_goal phoenix_goal Jul 11, 2014 12:41 PM Flag

    Yesterday was the deadline for the plaintiffs to file, anyone know if they did?
    They were asked to prove certain statements in their claim which of course they cannot as the 2011 10K refuted their claims.
    Still believe Gao wants the litigation gone before filing current financials

  • Reply to


    by rwsmd1234 Jun 20, 2014 3:10 PM
    phoenix_goal phoenix_goal Jun 20, 2014 3:58 PM Flag

    My two bits worth is Gao is waiting and likely the auditors as well for the California legal actions to end.
    I remember a publication ban which may also impede a PR. If anyone can update the case please jump in.

  • Reply to

    Markscheid Gone!

    by lbcb321 Jun 3, 2014 10:28 AM
    phoenix_goal phoenix_goal Jun 3, 2014 4:19 PM Flag

    Ok, I'll bite, Markscheid's compensation is spelled out in the agreement, CBEH did not say he was no longer a Director, just that he is not going to be paid for being a Director. Does have anyone have more info regarding the California legal action. I am guessing that Gao asked Markscheid to end the action and the continuance sealed Markscheid's fate. At least Gao says he intends to find a replacement Director. Since Gao votes over 50% of the stock, the minority votes are a nullity. Folks, we ride at the back of the bus until a solution is reached in California.

  • phoenix_goal by phoenix_goal Jun 3, 2014 11:53 AM Flag

    Buyers are there for the sellers.
    Still all very interesting and VERY tied to the Ca court proceedings.
    Pity we can not get an update from CBEH on the proceedings.

  • Need a shareholder in court to report is the message here.

    Item 5.02. Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

    On May 28, 2014, China Integrated Energy, Inc. (the “Company”), informed Mr. Stephen Markscheid that it was not going to renew his independent director agreement for the 2014-2015 year. There were no disagreements between the Company and Mr. Markscheid relating to the Company’s operations, policies or practices. The Board of Directors intends to appoint a new director to fill the vacancy.

    On May 29, 2014, the Company renewed the independent director agreement for Liren Wei. In connection with the renewal, Mr. Wei’s fees for serving on the Board and as Chairperson of the Audit Committee were increased to $90,000. All other material terms remain the same. The agreement shall be effective as of May 31, 2014.

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