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CHBT: R2Citron vs. Darth Nevader

|Includes:China-Biotics, Inc. (CHBT)
China-biotics: CHBT


Surprisingly the debate re-appears: longs still using investors day to refute the photos. (See yahoo thread here)  (If you are new to the debate, see photos here)
About the Investor Day documents, we don't have them. We only have testimonies.
I once tried to track down the testimonies for the outlet leases. I only found two, Mr. Nevader's and Mr. Wright's. Mr. Wright said that he didn't examine them. He only observed a stack of papers being brought in.
Mr. Wright, on September 24, 2010
"After that Travis Cai brought in the following documents for viewing: bank statements for the three largest bank accounts, tax filings and a tax confirmation letter, and a stack of lease documents for the 103 retail leases that were in force at June 30th 2010. I did not view the leases, but here is the detail on the other portions." <here>
He gets bolder in the comments section of an SA article, December 31, 2010. Note how quickly we progress from 'I didn't view the leases … but … I saw a stack of them brought in' … to …
"You can write all day on this subject, but I've seen the bank statements, tax filings, and leases for the now closed stores all with my own eyes." <here>
 
And Mr. Nevader:
"While the Company could certainly publish the list of its 103 retail locations on its website, it is a moot point since a significant number of the retail locations have been closed since 6/30/10. Therefore, the best way to do due diligence on the Company's prior retail outlets is to review the 103 leases, which were all made available at the Investor Day to anyone who wanted to review them. I looked at the leases, but I am looking forward to the Company closing all of their retail locations for the following reasons: …." <here>
He repeats the claim in comments at SA, but again with no detail. December 31, 2010
EG: "In addition, at the Company's Investor Day on September 20th, I saw a list of all 103 retail locations with addresses and copies of actual leases."<here>
 
If someone has become the evidence, that person must experct to be discussed as evidence.  Investors are leaning on these testimonies. 

There were dozens of people there, but I haven't found their statements. (Anybody know of any?) So when longs use Investor Day as proof, what they really mean is Mr. Nevader and Mr. Wright ... and these two didn't say very much.
Dozens of attendees on a busy investor day ... I doubt that Mr. Nevader had much time to examine the leases. I also doubt that Mr. Nevader reads Chinese or can tell the difference between a CHBT lease and an altered non-CHBT lease. As for Mr. Wright's ability to judge a stack of papers by observing the weight bearing down on someone's arms ....
For the missing outlets and the investor day "proof" ‒ Two individuals.   That's a lot of trust.
 
Position: I am short CHBT
Stocks: CHBT