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There was also an issue around the corporate structure from...

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Gralynchett

369 Posts.

24/06/16

16:35

Post #: 18116844
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Originally posted by Gralynchett ↑

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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There was also an issue around the corporate structure from memory. I'll try to dig up my notes when I get home.

SBB Price at posting: 2.1¢ Sentiment: None Disclosure: Not Held
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