Miranda i write to you in refrence to your coments to pasqual about trading while insolvent, You as a broker should know these are only allegations that pasqual are making BUT based on the financials he isnt far wrong YES the ASX certainly wouldnt let them trade while being insolvent but there are many ways to hide ones insolvency for a certain period this will not continue forever though so unless some serious money comes in they will be in trouble. Yes they will have a separate entity that will check the books and make sure they are not this is all standard practice but again being in business for many many years you can hide things. Dont forget that the Executive chairman of Sino was done for fraud and money laundering and yes we all know about Sino relationship with go connect.
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"THE former executive chairman of ASX-listed Sino Strategic International has been charged with fraud offences in Hong Kong over a property transaction involving the company. Chinese tycoon Theodore Cheng faced District Court on Tuesday on seven charges, including conspiracy to defraud and money laundering, Hong Kong newspaper The Standard reported. Mr Cheng, the nephew of Cheng Siwei, the former vice-chairman of the standing committee of mainland China's parliament, the National People's Congress, denied the charges. Hong Kong's corruption watchdog alleges Mr Cheng bought the 17th floor of a building in Wan Chai through an SSI subsidiary in 2006 for $HK42.2 million ($A5 million)."
GCN Price at posting:
2.9¢ Sentiment: Sell Disclosure: Not Held
