Blog with (mostly) shorts: http://www.3footcrowbar.com/ Twitter: https://twitter.com/MattBerry01 Interests: -- reading up on bounded rationality, behaviorism, and philosophy -- writing down observations and organizing them into book form -- bicycling Favorite authors: Emerson, Shakespeare,... More
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What's wrong with CHBT? -- China-biotics, a resource page 0 comments
I am short CHBT -- and here's why
RECENT
http://www.bdowatch.com/ challenges BDO International and BDO Limited with long list of problems
CHBT is over, March 18, 2011 - ursamajor5813
http://seekingalpha.com/instablog/775517-ursamajor5813/150135-chbt-is-over
China MediaExpress: Stocks to Watch in the Wake of This Scandal, March 15, 2011, Ian Bezek
http://seekingalpha.com/article/258245-china-mediaexpress-stocks-to-watch-in-the-wake-of-this-scandal?source=qp_article
China Biotics: The Numbers Don't Add Up, March 15, 2011, China Economic Review)
http://seekingalpha.com/article/258364-china-biotics-the-numbers-don-t-add-up?source=qp_article
The Missing Outlets -- It's so simple a child could understand it
The company claimed 103 outlets last summer. That number was challenged by CitronResearch, alleging that most were fictional. The company provided addresses of the outlets. Investigators took photos of the locations of those addresses, proving they were not CHBT outlets. The company changed the wording of its release, saying that these were just locations where product could be found (and much of that wasn't even true). As of today we still do not have a full list of addresses for the dedicated outlets claimed in SEC documents. Instead, CHBT claimed to close 95 outlets in three months, conveniently eliminating the need for providing a list.
Addresses and photos
http://www.therealchbt.com/index.php?option=com_stores&view=list&Itemid=8
www.therealchbt.com/
Original Citron Posts
http://www.citronresearch.com/index.php/2010/08/30/it-doesnt-take-a-microscope-to-see-whats-wrong-with-china-biotics-nasdaqchbt/
http://www.citronresearch.com/index.php/2010/08/31/china-biotics-nasdaqchbt/
http://www.citronresearch.com/index.php/2010/09/14/china-biotics-chbt-is-a-fraud-%E2%80%93-now-sue-citron-we-dare-you/#more-434
http://www.citronresearch.com/index.php/2011/01/26/china-biotics-nasdaqchbt-what-really-happened-last-week/
Chinese Company Analyst's Updates on Investigator's
http://seekingalpha.com/instablog/659080-chinese-company-analyst/92765-china-biotics-an-investigation-of-its-alleged-store-base
http://seekingalpha.com/instablog/659080-chinese-company-analyst/90918-chbt-store-verification-results-start-rolling-in
My blogs/articles on the missing outlets
http://seekingalpha.com/article/251960-china-biotics-record-earnings-don-t-negate-five-unresolved-issues?source=qp_article
http://seekingalpha.com/article/244256-china-biotics-strategy-or-cover-up
http://seekingalpha.com/instablog/582827-matt-berry/129274-china-biotics-testimony-forensics-and-the-case-of-the-missing-retail-outlets
The Chinese Financial filings do not Match the SEC filings -- and the numbersare not even close
http://seekingalpha.com/article/223068-china-biotics-vs-spreadtrum-communications-why-aic-filings-matter
Should the SAIC and SEC Documents roughly match?
Waldo Mushman
www.waldomushman.com/SAIC.html
from the article, "Texas Short Seller Fights China Fraud in $20 Billion U.S. Shares" ~ noir.bloomberg.com/apps/news?pid=newsarc...
"... as Roth Capital’s due diligence procedures “evolve,” it checks SAIC filings now too." ~ Ibid.
Chinese Company Analyst Website
http://chinesecompanyanalyst.com/faq-on-saic-financial-statements/
SAIC home
Zheng Zhaohui (AKA, Xia Cao/Summer Grass) Widely Followed ChineseForensic Accountant doubts CHBT's cash and tax claims
They trade for a penny now. http://finance.yahoo.com/q?s=CXTI.PK
"SEC suspends trading in China Expert Technology"
http://www.reuters.com/article/2007/10/01/sec-chinaexperttechnology-idUSN0130735920071001
For more, see Chinese Company Analyst's "Not all bdos are the same"
http://seekingalpha.com/article/213213-orient-paper-not-all-bdos-are-the-same
CHINA RTO Auditors in the News
"SEC probes Chinese Reverse Mergers and their US Auditors"
http://www.businessweek.com/news/2010-12-21/sec-probes-chinese-reverse-mergers-and-their-u-s-auditors.html
"China Marine Food Group: Auditor's Role in Another Alleged Fraud"
seekingalpha.com/article/210294-china-ma...
"CMFO’s Auditor’s Role in Another Alleged Fraud"
http://chinesecompanyanalyst.com/2010/06/15/cmfo%E2%80%99s-auditor%E2%80%99s-role-in-another-alleged-fraud/
"SEC Fines Audit Firm, Bars Partner Over China Energy "Fraud"
http://www.bloomberg.com/news/2010-12-21/sec-fines-audit-firm-bars-partner-over-china-energy-fraud.html
www.thestreet.com/story/10952867/1/secs-...
Roth goes to Investor's Day on September 20, 2010.
Roth downgrades to sell the next day.
tinyurl.com/2awsxw7 (read text)
Links here
tinyurl.com/2ahulcj ;
and here
tinyurl.com/2az3zvt
China-biotics belongs to the "China RTO" category: News
"Beware This Chinese Export"
online.barrons.com/article/SB50001424052...
Shanghai Numbers: series of Articles on the China RTO situation
http://www.thestreet.com/stock-market-news/10922214/the-shanghai-numbers/the-shanghai-numbers.html
SEC's New Focus
"Chinese companies trading in U.S. face increased scrutiny by SEC, Congress, and private plaintiffs"
http://www.lexology.com/library/detail.aspx?g=073b6026-fb05-45f5-ba1b-b506ec668c83
"Congress and SEC Hit Stocks Made in China"http://online.wsj.com/article/SB10001424052748704610904576032091919244966.html?mod=WSJ_hp_LEFTWhatsNewsCollection
SEC Probes China Stock Fraud Network
http://www.thestreet.com/story/10952277/1/sec-probes-china-stock-fraud-network.html
CHBT filings with the SEC
sec.gov/cgi-bin/browse-edgar?company...
(If you have references that you think would be valuable to others who are investigating CHBT, please post them in the comments section.)
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