unfortunately I am not short here .... but still happy one more fraud gets delisted .... more work needs to be done ... but I will keep up in cleaning out all these fraudsters
I agree with you as with Mad .... sellers have a reason to act .... buyers have a reason to buy .... while both havin' a reason, volumes tick up
I could possibly decide a real investor to put money at work into a company admitting it defrauded investors while needing to restate last two financials ?
ehi useless&fraudster Mark !! are you doing here !!??
what about your fantastic LLENs ?
and ... Fab ... ? maybe even better ?
ohhhhh ... I am so sorry for you LPH stake ... but never mind, you'll make a fortune with VIPS !
Sentiment: Strong Sell
price is the question ... SEC determining it
I hope for class action members SEC will be severe enough to pretend a huge settlement offer
SEC must use MZ/Puda case as an example to all other fraudsters
Nov 18th, 2013 (Geo Report)
"On Friday, November 15, 2013, a Seeking Alpha contributor, "Unemon1" alerted GeoInvesting to an undisclosed RMB 100 million ($16.4 million) Chinese bond issuance by FAB. The implications of this development are significant, especially when one considers that FAB operates through Variable Interest Entities (VIEs) wherein U.S. investors have been found historically to have questionable legal claims to assets and cash flows."
Nov 20th, 2013
"FAB Universal (NYSE MKT#$%$), a worldwide distributor of digital media and entertainment, repeated today its vehement denial of the recent allegations raised by short-sellers in their self-serving “reports"
Dec 10th, 2013
"It has been determined that one of the Company’s variable interest entities (VIE), conducted a $16.3 million bond offering in China which was not reflected on the Company’s financials. The Company is taking steps to determine both how this occurred and what controls are necessary to ensure that it does not happen again."
Luckely enough, Nasdaq halted the stock on Nov 21st ... otherwise, many investors trusting FAB would have bought additional shares on the basis of a completely fake press release
FAB must be delisted. The company's management is as fake as their filings.
that's exactly the point .... business model is dead in itself given all other providers of same service directly in your device .... kiosks arent existing for a reason .... they are useless