OTCPK:TOUBF - Post by User
Post by
LongoGlueStickon Aug 27, 2011 11:05am
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Post# 18985955
my take on TRE
my take on TRE1. The OSC overstepped its legal authority when they demanded that the 5 top execs resign. I like the fact that Chan and the other 4 fought back with their lawyers to have this recinded. Reports in the National Post make the OSC out to be a bunch of clowns who don't know their legal authority. I like the fact that Chan is staying on at this point because to me, it shows me that he is not going to go without a fight. What might seem like a fraud could simply be the accounting practices of another country other than Canada, and for that SINO needs more transparency on what they are doing. This stock has traded for 15 years and not one analyst suspected anything wrong with SINO, other than 34 year old Carson Block who seems to want to make a name for himself.
Funny thing about this is, I have watched Carson Block's interviews before that halt and he seemed very arrogant and short on actual facts. When I watched him yesterday on Bloomberg when the stock was halted, his arrogance was gone and he actually looked a little concerned to me. Apparantly he has a huge short position, and as some people on this board have pointed out the shorts and longs are in the same precarious position as we don't know where TRE is going to go when it starts trading again (if it starts trading again)... But quess what, what happens if we hear that company ABC wants to buy TRE for $10 a share? Some of the shorts are going to get burned and the longs who bought low will make a profit. Just be patient because we don't know how Allen Chan is going to fight back. We don't know what tricks he has up his sleeves. Chan could make a mockery of the Carson Block and the OSC, and to an extent, he already has...