OTCPK:TOUBF - Post by User
Post by
bendergardenon Jun 06, 2011 6:07pm
442 Views
Post# 18677888
In the MW report
In the MW reportThey mention that addresses of some of the subsidiaries of Sino are actually empty lots, fields, etc. I would imagine at this point that this has been verified, as it would be relatively easy to do.
Sino's office in toronto is closed, as of last week. With a "back in 3 weeks' note. Cute.
Credit Suisse has lowered their target price today to $6.00. They obviously have gone through the report and done some checking of some of the more easily verifiable things. Because they could have suspended coverage, or any other neutral stance, but they have gone ahead and hacked the valuation. They found enough, obviously.
I wasn't sure how things would go today. If the stock had climbed back to $15, on the heels of some believable pushback from Sino, I wouldn't have been overly surprised. It looked vaguely promising before markets opened that Sino would be feisty today.
I did note, that the things Sino said that they would post to support their case, could have been sourced and posted in a hour , at most, last Thursday afternoon, if they really wanted to. And don't kid yourself on that. It could have been done in an hour. So I was questioning the sense of urgency pretty early today.
I get this strange sense that Sino is stalling, while they key people and documents disappear.
Who knows I guess.
Good trade from $5.00 to $8.00 though. You could see that coming a mile away.
I would give this about 2 more days at the absolute max. If Sino hasn't completely shut this down by then , it's becasue they can't and won't be. And thats being pretty astronomically generous, as it should already be over, if Muddy was dead wrong.
I wonder what will come out of the analysts only conference that Muddy is hosting.
Dismal.