uptownman68

China BAK Battery: Prepare for the Short Squeeze This Week

I don't recall the company saying anything about changing auditors to "save money" what they said was that there was a disagreement over their lack of financial controls as KPMG saw it. They said that the company had a lack of exectuive management with accounting knowledge and a general lack of understanding of GAAP principles. You need to go read the 8-k. None if this was disclosed in the original press release and it wasn't until after they had some egg on their face that they refiled the report to include the statement in the press release. The company might have a lot of opportunity for gorwth because of the technology but management has shown that they can not be trusted to act in shareholders interest. you don't resolve accounting issues by firing the auditor and hiring a new one.