Post by
granqueso on Jul 25, 2014 8:57pm
Some news on Greenstar
I did some poking around and this is what I found out. Some of this is known but I will go over it so as to provide context. Bear with me.
As you Greenstar has obtained a new financial chop and is in the complicated of clarifying its financial situation.
First, I am told that there is no truth to speculation in this forum that the company may have trouble finding an auditor to prepare its financial statements. However, some clarifications must be obtained. To that end the company presently has a lawyer in China attemptinf to check the veracity of financial data presently available. Only once this is done can the auditor step back in. The auditor has already spent a lot of time, money and energy on a first trip to China in a first failed attempt to produce the statements and will not do so again until the lawyer has completed his work.
That said, this will take time. We're already entering the last week in July. Don't expect anything before the end of August. And, I am told there is some sort of deadline (the nature of which is unclear) of September 3rd.
I am also told that operations in the field and in the plant are ongoing. That does not seem to be a concern.
I hope this helps.
Comment by
proinvestor91 on Jul 28, 2014 10:58pm
"Things take a long time in China" Considering they aren't on the Chinese Stock exchange or reporting to any bodies there so I'm not sure how the issue is really China related . hiring people in China to do work should be as quick if not quicker as in north America .