MFH Adds Influential Paul Gillis PhD CPA To Board
Seeking Alpha Analyst Since 2019
Summary
- June 2020 price jump is related to Dr. Gillis being added to the MFH Board; bringing accounting expertise and credibility.
- Financial MFH has enough cash to survive for a year.
- Long term this stock is a lottery ticket.
Dr. Gillis has a laundry list of outstanding credentials that bring credibility to any Chinese banking firm; see list below:
- Professor of accounting at the Guanghua School of Management, Peking University in Beijing, China.
- Blogs at www.chinaaccountingblog.com.
- Testified before the U.S.-China Security and Economic Commission, the International Auditing and Assurance Standards Board, and the OECD.
- Was a member of the Standing Advisory Group of the Public Company Accounting Oversight Board from 2012-2013
- Gillis: "The Big Four and the Development of the Accounting Profession in China" (Gillis, 2014) writes about the development of accounting ideology in China, how the Big Four gained access to China, and how this has affected the Big Four
- Retired from PricewaterhouseCoopers in 2004 following a 28 year career in the United States, Singapore, and China.
- Specialties: International tax, China tax, United States Tax
- Financial accounting, IFRS US GAAP
MFH looks like it can survive for another year based on 06/12/2020 20-F filing.
- Current Assets :2,133,775
- Current Liabilities: 836,552
Long term the China/US deterioration relationship, lack of China accounting transparency, a rise in populism, and existing players in a crowded market shapes my view that this stock is a lottery ticket.
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