Seeking Alpha

Richard X Roe

 
View as an RSS Feed
View Richard X Roe's Comments BY TICKER:
Latest  |  Highest rated
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    JoeDiaz1970: If CXDC sells something, clearly you can prove it as an investor. You just have to find what CXDC sells and order it from CXDC's customers. Are you saying that it is impossible to buy CXDC's products? Do you even know what they are?

    KPMG's job is not to prove CXDC's numbers. KPMG's job, theoretically, is to attest to the financials being prepared in accordance with US GAAP - not to uncover fraud. In reality, KPMG is facilitating fraud, and that is why the judge suspended them.
    Jul 10 11:22 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    thub: Of course it can be easily proven that Dow Chemical has sold TPO, as you can order it yourself from your local distributor. Where can you buy China XD's products? In fact, where can you find what products exactly are made and sold by China XD?

    Yes, on the modified plastics portal by Alibaba ( http://www.1688.com ) you can find actual price quotes about actual products from actual companies - the products of all the major multinationals, as well as the local competitors, are represented. But China XD's products are nowhere to be found - at least I can't find them. So, if you get a chance, can you provide a link on Alibaba or elsewhere about an actual product made by China XD (and sold by its customers, that is, distributors, I suppose) and its price?
    Jul 10 11:17 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    new slang: The actual website that is listed on China XD's product packaging (the 25 kg bags) is actually http://www.xdgfz.com (see http://bit.ly/1rZEPh5 )
    Jul 10 11:00 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    JoeDiaz1970: I know it, because it is written on the actual stolen photo on China XD's website. Can't you read?
    Jul 10 10:55 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    new slang: True. You just confirmed that KPMG has been suspended. In other words, what I said is true.

    KPMG knew the Chinese and US laws very well, so when it signed up China XD as a client, it knew perfectly well that it will have to violate either Chinese or US laws eventually. In other words, KPMG is facilitating fraud by failing to provide the documentation requested by the US regulators, while hiding behind an "ignorance" excuse.
    Jul 10 10:53 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    hzk: The CFO had the opportunity to answer in today's press release by China XD. Can you tell us what his answer was?
    Jul 10 07:18 PM | 1 Like Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    googlefan: I have been unable to find any public filing (or statement) by Kingfa about the alleged 30% trading activities generating 3% gross margins. mronz has also been unable to provide a link to such a filing. It is more likely than not that China XD's management lied about Kingfa in its presentation - it is not the first time. For example, China XD management claimed in a 10K ( http://1.usa.gov/1jhWo9n , page 10) that Kingfa entered the automotive modified plastics market in 2006, which is patently untrue, as public documents show that Kingfa has been selling automotive modified plastics at least since early 2004, when it had over 60 actual certified products with Ford, GM, Nissan, and Toyota. At the time, China XD was a dilapidated "factory" making nylon.
    Jul 10 07:16 PM | 1 Like Like |Link to Comment
  • Extraordinary Cash Flow Drives These China XD Plastics Yankee Bonds With 9% Yields! [View article]
    piggybanksdead: Sorry, but I don't see http://bit.ly/1rZvTIx written anywhere on China XD's supposed product. I see http://www.xdgfz.com, on the bags: http://bit.ly/1rZEPh5

    Maybe IBM in Germany has negative assets, but the IBM in the US had $123 billion in positive assets and only $106 million in liabilities. I suggest you find and consult a qualified investment advisor before it is too late.
    Jul 10 06:01 PM | Likes Like |Link to Comment
  • Extraordinary Cash Flow Drives These China XD Plastics Yankee Bonds With 9% Yields! [View article]
    piggybanksdead: I was unaware that it had been "scientific proofed by stanford university, that American Companies have more frauds, and more often collapse than Chinese reverse mergers." Since you are not a native English language speaker, maybe you misunderstood that "proof?"

    I have personally verified that IBM, HP and Apple have at least some sales, since I have personally bought their products. On the other hand, you can't show me any evidence that China XD is selling anything. Where can I buy China XD's products? The company's website is http://www.xdgfz.com, as shown on a bag of supposed China XD product, according to a promotional video about the company. Have you visited that website?

    In fact, since you claim to know who makes China XD's equipment, it is even more strange that you can't verify the number and capacity of the "custom" extruders that China XD supposedly has.
    Jul 10 05:12 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Micro_Cap_Maven: I wasn't aware you were so interested in what I had to say about China XD. If you had questions, you should have asked. And it is not too late yet - there is still another 100% downhill.

    If all the longs were so confident like you are, why are they still selling after the stock dropped over 10% today?
    Jul 10 03:55 PM | 1 Like Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    JoeDiaz1970: KPMG's willful violation of US securities laws is no mumbo-jumbo over jurisdictional & access to records issues or a molehill. But yes, KPMG is still facilitating fraud, while it is appealing and trying to settle.
    Jul 10 03:50 PM | 1 Like Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Bleecker: Don't worry - the Rosen Law Firm is preparing a class action lawsuit on behalf of China Mobile Games investors. China XD is not China Mobile Games!!!
    Jul 10 03:32 PM | 2 Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    Micro_Cap_Maven: You misunderstood. Whether the stock price is $100 or $1, the eventual downside move of a fraud is still 100%.
    Jul 10 03:27 PM | Likes Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    JoeDiaz1970: KPMG, China XD's auditor, has definitely been suspended, basically for facilitating fraud, but is now appealing. Here is the full decision: http://1.usa.gov/1eP4Ynu
    Jul 10 03:24 PM | 1 Like Like |Link to Comment
  • China XD Plastics: When The Numbers Don't Add Up, There's Over 80% Downside [View article]
    moogwai: It is not about the new plant. According to China XD's filing, the local government in the city where the plant is supposed to be built was offering China XD a loan at 0%. China XD now says it does not need it.

    If the debt is now yielding 8.7%, why isn't China XD buying it back with a loan taken at 0% from the local government?
    Jul 10 03:08 PM | Likes Like |Link to Comment
COMMENTS STATS
1,042 Comments
328 Likes