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CSKI Patents are Valueless

|Includes:China Sky One Medical, Inc. (CSKI)
CSKI Patents are Valueless
China Sky One Medical may not have many character traits that I admire but they certainly are bold. Imagine the audacity required to inflate the value of patents 30 fold in the space of three years. The same seven patents CSKI valued at less than $500,000 in 2006 now sport a classy $15mm valuation. The really bold part of the equation is that these patents are complete fabrications. The patents don’t exist.
CSKI also proudly trumpets the groundbreaking work they are doing in cancer research. Endothelin-1 is mentioned dozens of times in the 10-K and represented as a patent or patent application that CSKI owns. They don’t. Unlike the other seven patents though, this one actually exists. The problem is that it is owned by some else, not CSKI. Pretty bold to claim ownership of seven non-existent patents and another that isn’t yours.
I am short this stock and trying to increase my position.
Stocks: CSKI