OTCPK:TOUBF - Post by User
Post by
bendergardenon Jun 06, 2011 7:08pm
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Post# 18678102
Some notes from TD
Some notes from TDThis is what they had to say:
1. MW has a basic and fundamental misunderstanding of Sino's business model
I think we can say this is obviously true. The nattering on about 50,000 trucks needed to move trees, all the while not realizing the sale was standing timber and not harvested logs was absolute amateur blundering. Unbelievably idiotic by Muddy Waters.
2. TD had hoped for a more comprehnsive response on Friday
Well, who didn't. Now Monday is done, and they are no better off.
3. That full disclosure of ownership would encompas potentially thousands of documents
This is a misunderstanding by TD of the situation. They needed to get some key ones up lightning fast, and then continue to add to the postings in steady increments. Investors would get the idea soon enough. No one needs to see them all.
4. They then note that while there is clear misunderstanding, there are serious enough allegations that need to be addressed.
TD has obviously seen things that clearly concerned them.
5. TD expects the commitee to take several weeks to respond.
Get serious. Again, get key itmes up asap, and go from there.
6. TD has suspended coverage.
TD has distanced themselves from the company, and won't make a call. Again, they obviously saw enough to seriously concern them.
Sop TD has basically fled the scene, and is of the opinion you might hear from the commitee in a few weeks.
OK then.
I have no idea how this will end, but that is a gutless and utterly useless response.