I remember looking at this one a couple of years. For me, there was a mountain of red flagged and even A fair chance of potential fraud.
A bit of investigating beyond the headline numbers is recommended.
Like is said its been a couple of years since I looked, but from memory I found issues around:
- consignment of stock
- how the cash could ever be repatriated out of China.
- the owner using the listing as a way of getting their money out of the business.
- related party transactions.
- Ceo was paid an handsome 6 figure salary but the CFo was paid some paltry sum (like $25k)
It was around 6c then I think and it was the first time I've ever thought about shorting a share.
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I remember looking at this one a couple of years. For me, there...
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