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At GEO, our focus is on providing high quality insights on mid and micro cap equities, both in the China and U.S. spaces. Since our inception, we have come to be known by our GeoBargain selections, a group of stocks with a specific set of criteria that has proven to help them perform better than... More
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  • Puda Coal (PUDA) Investigatory Report - Probe into Corporate Structure 2 comments
    Apr 8, 2011 11:34 AM | about stocks: PUDA

    Introduction

    Puda Coal (NYSE AMEX:PUDA) grabbed our attention at the beginning of March 2011 during our continuing effort to potentially allocate funds to a very select number of ChinaHybrid companies attempting to survive in a challenging environment that has not been kind to Reverse Take Over firms (RTO) . We felt that solid analyst estimates combined with the strong pricing of its most recent public offering on December 8, 2010 substantiated a complete review of the company, which we had hoped would validate investor optimism. To our surprise, during our investigation of PUDA’s SAIC filings, we discovered:

    • A corporate ownership structure that is materially different from the structure reported to the SEC in the Company’s 2010 Form 10-K filed on March 16, 2011.
    • Numerous material and undisclosed share ownership transfers since the Company listed its shares on the Nasdaq exchange in September 2009, that bring into question the claims of public shareholders on at least 50% of PUDA and its assets, earnings and cash flows.

    See full report and supplements.


    Disclosure:  Short PUDA stock, position in PUDA puts as time of report.
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Comments (2)
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  • bigbarry
    , contributor
    Comments (314) | Send Message
     
    Shoulda, woulda, puda!

     

    Pound that b*tch!
    8 Apr 2011, 03:17 PM Reply Like
  • ridcorruption2
    , contributor
    Comments (2) | Send Message
     
    Any comments now on Puda? Please let us know. Your short followers are waiting.
    29 Apr 2011, 06:50 PM Reply Like
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