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Alfred Little

 
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  • FAB Universal's Undisclosed Acquisition Of Beijing Vanpos Telecom [View article]
    Older - Any guess as to how many Media kiosks there really are? 400,000 Beijing membership cardholders, using how many Media kiosks?
    Sep 2 12:01 PM | Likes Like |Link to Comment
  • FAB Universal's Undisclosed Acquisition Of Beijing Vanpos Telecom [View article]
    Until I exposed that FAB had not deployed 3,954 media kiosks in Beijing (which has now been confirmed by FTI), I am certain that nearly every FAB investor was under the impression that "5c" and "5c Intelligent Media Kiosk" and "media kiosk" all meant the same thing. It is pretty clear to anyone who reviews FAB's historical filings. So just how few "media kiosks" are there in Beijing? FAB won't say.
    Aug 29 10:49 AM | Likes Like |Link to Comment
  • FAB Universal's Undisclosed Acquisition Of Beijing Vanpos Telecom [View article]
    I think Ms. Wang could use the recorded interviews of herself in FAB's office, doing FAB's work as director of franchisee sales, to defend the claim that she was never an employee of FAB. She'd make a great whistleblower!
    Aug 18 07:29 PM | Likes Like |Link to Comment
  • FAB Universal's Undisclosed Acquisition Of Beijing Vanpos Telecom [View article]
    First of all, if you have a mandarin/english speaking friend, I would welcome them to check the translation. My team and I go to great lengths to get them right. Yes, my translator has a habit of manually saving his work ever 5 minutes or so, inflating the number of revisions. Earlier this year I hired a translator with a masters degree but his work still requires a true native english speaker to proof and consult to get the proper english sense/meaning of some of the Chinese colloquial or idiomatic phrases. I welcome anyone to challenge my translations. To date, no one has found any material errors in them.

    To answer your concerns regarding the quality of the interviews, the most important point I stress to my investigators is to try to avoid posing leading questions to the "witness." I want these interviews to stand up in court. I want the interviewee's answers to be clear. Of course interviewees cannot be trusted to be honest, hence I like to conduct multiple interviews of different people, with potentially different points of view. Often the results will vary (the number of Beijing media kiosks reported by the couple dozen people interviewed varied from just 30-40 to as many as 1400. But no one said 4,000!) My investigators are also trained to ask the same question, repeatedly, in different ways, during the course of the interview and follow up interview (when possible) to see if the answers match.

    Thank you for your interest in the quality of these reports.
    Aug 18 07:25 PM | Likes Like |Link to Comment
  • FAB Universal's Undisclosed Acquisition Of Beijing Vanpos Telecom [View article]
    I will soon publish my interviews of her, which she can use to defend herself against FAB's unscrupulous charges. I'd be happy to assist her to file a whistleblower complaint to the SEC against her employer.
    Aug 14 11:03 AM | Likes Like |Link to Comment
  • FAB Universal's Undisclosed Acquisition Of Beijing Vanpos Telecom [View article]
    Obviously you have a lot of technical skill analyzing the metadata of the documents. Beyond providing my assurances that all my documents are legitimate and translated as accurately as possible, I can say that:
    1) Translators are non-native English speakers.
    2) They frequently start/stop/save their work as they translate, generative dozens of revisions.
    3) Following translation the document is further reviewed by others, including myself, to further improve the translation for native english speakers to comprehend.
    4) The final versions are then formatted to match each other (font, layout), since they were sometimes prepared by different translators.
    5) They were shared and sometime re-shared with different regulators and with FAB's counsel
    6) The most recent versions were then reassembled together to publish this week.

    The versions the public has today are the most accurate available at this time. If anyone knows a good Chinese translator they are welcome to check them. I'd be more than happy to correct any errors.
    Aug 13 01:55 PM | Likes Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    Older is right about the website. But Fabgou.com looks like another fraud. Scroll to the very bottom and try to click the 4 buttons, which supposedly should link to FAB's various ecommerce business license/registrations. The buttons don't work. Compare the function of the same buttons on the JD.com website, that FABgou.com appears to be a clone of: http://www.jd.com
    Jul 28 09:51 AM | 1 Like Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    A real company with a wildly profitable kiosk business, free of pirated content, 1) would have published the kiosk locations on its website, years ago, 2) would not suddenly stop selling wildly profitable kiosks after a short seller challenged their existence, 3) would not secretly issue high interest bonds when the company is awash with cash, 4) would conduct an independent investigation, not an internal investigation, and would have launched it immediately, not waiting several months later 5) would NEVER delay a year-end bank balance verification of $100M and then downgrade from a low-tier auditor to a bottom tier in the middle of a trading halt to finish the audit prior to the belated investigation
    Jul 17 09:48 AM | 1 Like Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    Very good point, the short term loans and secret bond issued by FAB's Chinese subsidiaries are nonsensical for a company supposedly flush with cash.
    Jul 14 04:33 PM | 1 Like Like |Link to Comment
  • FAB: Where Are Your Beijing Media Kiosks? [View article]
    Frankly, I believe that the exchanges want to seem "fair" to Chinese companies and give them the maximum possible amount of time to respond to fraud allegations. But most people agree that giving FAB 8 months after it admitted secretly issuing bonds in China is a ridiculous amount of time. The "patience" of the exchange is probably due to the tremendous desire by the exchanges to attract gigantic lucrative new Chinese IPOs like Alibaba. Being "soft" of fraud makes the U.S. exchanges a much more desirable venue for Chinese companies. It is completely unfair to investors, both long and short.
    Jul 12 11:09 PM | 3 Likes Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    Older - I don't see any indication in the 2013 Q1 10-Q that all FAB sells are Brand Licenses or that the majority of its kiosks are anything other than media kiosks or that FAB is not engaged in the operation of the media kiosks. Please show me what I missed and I'd be happy to reconsider.

    Per Q1 2013 10-Q: "FAB Media was incorporated as a private enterprise in the PRC and is primarily engaged in operating and providing proprietary multimedia kiosks for music downloads, information exchange and advertising." and "FAB kiosks, located in high-traffic areas of office buildings, shopping malls, retail stores and airports, are self-service terminals that provide a range of entertainment and consumer applications."
    Jul 12 11:04 PM | 1 Like Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    Lucky, I don't buy any of these excuses. FAB's auditor downgrade was precisely the opposite of what a real company would do. It was just a desperate attempt to keep the fraud alive a little longer.
    Jul 12 10:54 PM | Likes Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    So Lucky, do you have any idea where the 3,954 media kiosks are in Beijing, or how many of those are actually media kiosks, now that FAB disclosed that only "some" are media kiosks? Any idea why FAB won't disclose the locations?
    Jul 12 10:49 PM | Likes Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    Owen - the stock is halted so that's why its not trading. The 100 shares you see is a mistake. When it reopens it will no doubt trade millions of shares
    Jul 12 10:40 PM | Likes Like |Link to Comment
  • FAB Universal: Glaring Contradictions In Its 2013 10-K [View article]
    Goolie - Covering creates a taxable event, but until a short position is covered there is very considerable borrow fees that have to be paid to securities lenders, that over time wipe out a huge chunk or even all of the profits.
    Jul 12 10:39 PM | Likes Like |Link to Comment
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