OTCPK:TOUBF - Post by User
Comment by
scobieon Sep 27, 2011 5:22pm
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Post# 19090582
RE: RE: One minor problem ya think?
RE: RE: One minor problem ya think?my personal feeling and that's all it is, is that it is Sino that wanted the halt. Therefore the audit committee found something, took it to the board and the board said 'send her in'. PWC is under contract to Sino not the OSC. Something questionable found, no doubt. Outright fraud? Could just be a couple of bad apples in the bunch. Certainly they can be found in any company if you look for it. The osc isn't doing an investigation, they are relying on the committee's work. The osc is a bunch of clerks that get on the phone and say 'where is your quarterly report?' They don't have the manpower nor the bucks to hire a bunch of high-priced consultants to trip on over to China and get in pwc's way. Check out their org chart....and Sino was damn close to getting green certification....process takes 5 years. You don't get that without trees. The arm's length transactions could be problematic but note that TRE kept money on the side in case these guys didn't pay the VAT taxes. I remain hopeful.