Carlino

Three Reasons to Heed China Sky One Medical's 10-K Filing Extension

CSKI -- Improper Accounting for Stock-Based Compensation -- Make Good Escrow Agreement
First, have a look at CRTP's (China Ritar Power Corporation) filings. When the net income threshold was met, the company treated the shares as an expense equal to the amount of the market value of the shares for the amount of the grant-date value of the shares as of the date that the Make Good Agreement was signed. CSKI should have done the same thing. Of course, that would have wiped out the company's earnings on a GAAP basis. In its press release, the company never said that its earnings were on a non-GAAP basis.

I sent an email to IR on April 8. They never replied to me.