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Ya, that is a very likely scenario. They just have to trace it back to those persons handling the receiving of cash sales. There must be a head overseeing the cash.

DelphinusSnow      ( Date: 24-Mar-2011 23:55) Posted: one of the audit chks is to count the physical cash on hand. i'm sure the auditors did that too that is why took so long to suspend..... and for companies that holds lots of cash, they are supposed to buy insurance.... the best to hope for now is...one of the directors took the cash for own use....somehow manage to borrow here n thr...then 2moro suddenly " oh i found the cash under my table! who wld have tot it dropped thr!" . hpong5      ( Date: 24-Mar-2011 23:50) Posted: If cash really missing, will be very serious liao

 

of cos is towarn them about s-chips! not this share!

rotijai      ( Date: 24-Mar-2011 23:57) Posted: already suspended liao.. nth to warn..they cant buy this counter even if they die die wanna buy.. may be they can buy from those who got stuck here stan19      ( Date: 24-Mar-2011 23:50) Posted: why cannt continue... should let it stay top to warn all the new forumers...

 

already suspended liao..

nth to warn..they cant buy this counter even if they die die wanna buy..

may be they can buy from those who got stuck here

stan19      ( Date: 24-Mar-2011 23:50) Posted: why cannt continue... should let it stay top to warn all the new forumers...

 

they may do that, borrow from somewhere to fill it up....but who still trust this type of company?

DelphinusSnow      ( Date: 24-Mar-2011 23:55) Posted: one of the audit chks is to count the physical cash on hand. i'm sure the auditors did that too that is why took so long to suspend..... and for companies that holds lots of cash, they are supposed to buy insurance.... the best to hope for now is...one of the directors took the cash for own use....somehow manage to borrow here n thr...then 2moro suddenly " oh i found the cash under my table! who wld have tot it dropped thr!" . hpong5      ( Date: 24-Mar-2011 23:50) Posted: If cash really missing, will be very serious liao

 

one of the audit chks is to count the physical cash on hand. i'm sure the auditors did that too that is why took so long to suspend.....

and for companies that holds lots of cash, they are supposed to buy insurance....

the best to hope for now is...one of the directors took the cash for own use....somehow manage to borrow here n thr...then 2moro suddenly " oh i found the cash under my table! who wld have tot it dropped thr!" .

hpong5      ( Date: 24-Mar-2011 23:50) Posted: If cash really missing, will be very serious liao. hpong5      ( Date: 24-Mar-2011 23:36) Posted: They mentioned more cash sales. Maybe the cash they never bank in, so auditor is unable to verify the cash balance

 

Ya don't believe what analysts say, they are paid to do that. Just do our homework and won't get conned. Last day before it halted, I did heard some bad news but didn't know so fast gone case. Still waiting to sell at 0.28 as thought they push up to sell.  That day open 0.26 then stop moving, drop all the way down should have sold.  So fast wipe out by tsunami, no more chance, has been holding since listing till now. Luckily did earn some from 0.30 to 0.47 in & out. The last round set cut off 0.39 all gunna knock out but still considered lucky.  Now left a bit hope have some miracles can sell off. Lesson learnt, when BB run, be decisive to cut even when losing. Not always so lucky will come back!

 

If cash really missing, will be very serious liao.

hpong5      ( Date: 24-Mar-2011 23:36) Posted: They mentioned more cash sales. Maybe the cash they never bank in, so auditor is unable to verify the cash balance. Andrew      ( Date: 24-Mar-2011 23:28) Posted: Yalor, when auditor open their mouth, it will affect stock price.  I think they have tried a few round to validate before reaching this conclusion and then made such a statement. Since it was audited by IPO Manager for the KDR listing......there may be an element of fraud lor. Or the IPO Managers are too busy playing golf with Chair-meh.......

 

why cannt continue... should let it stay top to warn all the new forumers...

 

Haha ya.

rotijai      ( Date: 24-Mar-2011 23:39) Posted: haiyo.. no need to discuss this liao la.. there are 1001 possibilities and we have no clue at all.. just REMEMBER... or WRITE A BIG PAPER AND STICK TO UR WALL..                                                                                                   " DON'T BUY CHINA PENNY STOCKS"                                                                                     hpong5      ( Date: 24-Mar-2011 23:36) Posted: They mentioned more cash sales. Maybe the cash they never bank in, so auditor is unable to verify the cash balance

 

their excuse  for the first sgx query on their fin report also quite weird... short term loan increase eventho hving  extra huge  cash balance...

 

hpong5      ( Date: 24-Mar-2011 23:36) Posted: They mentioned more cash sales. Maybe the cash they never bank in, so auditor is unable to verify the cash balance. Andrew      ( Date: 24-Mar-2011 23:28) Posted: Yalor, when auditor open their mouth, it will affect stock price.  I think they have tried a few round to validate before reaching this conclusion and then made such a statement. Since it was audited by IPO Manager for the KDR listing......there may be an element of fraud lor. Or the IPO Managers are too busy playing golf with Chair-meh.......

 

haiyo.. no need to discuss this liao la..

there are 1001 possibilities and we have no clue at all..

just REMEMBER... or WRITE A BIG PAPER AND STICK TO UR WALL..

 

                                                                                                " DON'T BUY CHINA PENNY STOCKS"

                                                                                   

hpong5      ( Date: 24-Mar-2011 23:36) Posted: They mentioned more cash sales. Maybe the cash they never bank in, so auditor is unable to verify the cash balance. Andrew      ( Date: 24-Mar-2011 23:28) Posted: Yalor, when auditor open their mouth, it will affect stock price.  I think they have tried a few round to validate before reaching this conclusion and then made such a statement. Since it was audited by IPO Manager for the KDR listing......there may be an element of fraud lor. Or the IPO Managers are too busy playing golf with Chair-meh.......

 

yalor...listed for only  few mths leh...either the IPO managers super cmi or they busy playing golf/drinking& eating with free meis meis with chairman...

Andrew      ( Date: 24-Mar-2011 23:28) Posted: Yalor, when auditor open their mouth, it will affect stock price.  I think they have tried a few round to validate before reaching this conclusion and then made such a statement. Since it was audited by IPO Manager for the KDR listing......there may be an element of fraud lor. Or the IPO Managers are too busy playing golf with Chair-meh....... DelphinusSnow      ( Date: 24-Mar-2011 23:05) Posted: be prepared for the worst....not wanting to scare u....but being in the audit line b4, i can tell u that cash & bank balances  are  very to verify. Auditors send audit confirmations to banks, bank list all the balances that companies have with them, auditors counter-chk to ledger. there may be some unreconciled items but these are easily verifiable (ex, cheques). banks may have made a mistake but that is easily verifiable too coz companies are supposed to keep the deposit slips/chq stubs/etc  and reconcile their bank balances consistently...for auditors to issue such warnings, it must be a pretty material amt too...

 

They mentioned more cash sales. Maybe the cash they never bank in, so auditor is unable to verify the cash balance.

Andrew      ( Date: 24-Mar-2011 23:28) Posted: Yalor, when auditor open their mouth, it will affect stock price.  I think they have tried a few round to validate before reaching this conclusion and then made such a statement. Since it was audited by IPO Manager for the KDR listing......there may be an element of fraud lor. Or the IPO Managers are too busy playing golf with Chair-meh....... DelphinusSnow      ( Date: 24-Mar-2011 23:05) Posted: be prepared for the worst....not wanting to scare u....but being in the audit line b4, i can tell u that cash & bank balances  are  very to verify. Auditors send audit confirmations to banks, bank list all the balances that companies have with them, auditors counter-chk to ledger. there may be some unreconciled items but these are easily verifiable (ex, cheques). banks may have made a mistake but that is easily verifiable too coz companies are supposed to keep the deposit slips/chq stubs/etc  and reconcile their bank balances consistently...for auditors to issue such warnings, it must be a pretty material amt too...

 

Yalor, when auditor open their mouth, it will affect stock price.  I think they have tried a few round to validate before reaching this conclusion and then made such a statement.

Since it was audited by IPO Manager for the KDR listing......there may be an element of fraud lor.

Or the IPO Managers are too busy playing golf with Chair-meh.......

DelphinusSnow      ( Date: 24-Mar-2011 23:05) Posted: be prepared for the worst....not wanting to scare u....but being in the audit line b4, i can tell u that cash & bank balances  are  very to verify. Auditors send audit confirmations to banks, bank list all the balances that companies have with them, auditors counter-chk to ledger. there may be some unreconciled items but these are easily verifiable (ex, cheques). banks may have made a mistake but that is easily verifiable too coz companies are supposed to keep the deposit slips/chq stubs/etc  and reconcile their bank balances consistently...for auditors to issue such warnings, it must be a pretty material amt too.... hpong5      ( Date: 24-Mar-2011 22:59) Posted: Lets see if they will require a Special Auditor. If not, still not the end of the world. Maybe just a case of poor book keeping and not hanky panky business. And will resume trading soonest but be ready for a further selldown...who knows maybe buy up...50/50 chance. Now is the auditor needs more than 3 days to check that's why i think also no choice have to suspend.

 

buy up only possible if their bank reserves really the same as what they stated in the unaudited financial  yr report... else...

hpong5      ( Date: 24-Mar-2011 22:59) Posted: Lets see if they will require a Special Auditor. If not, still not the end of the world. Maybe just a case of poor book keeping and not hanky panky business. And will resume trading soonest but be ready for a further selldown...who knows maybe buy up...50/50 chance. Now is the auditor needs more than 3 days to check that's why i think also no choice have to suspend.

 

not sure if this is merely a coincidence of what? three s-chips which were suspended are all audited by E & Y........something fishy ?

warrenbegger      ( Date: 24-Mar-2011 23:15) Posted: Simple, u said u got $100,000. I ask u to show me and if u really take out and prove me, i got nothing to said and u r honest. If u cant take out, cant prove it, act blur and dont know where $ goes, then something is very wrong. U CEO and CFO dont know where the $$$? And need so long to find it? Where is the $$$$$$$?????

 

Simple, u said u got $100,000. I ask u to show me and if u really take out and prove me, i got nothing to said and u r honest. If u cant take out, cant prove it, act blur and dont know where $ goes, then something is very wrong. U CEO and CFO dont know where the $$$? And need so long to find it? Where is the $$$$$$$?????

 

Ya, if like that as what you have explained, a special auditor may be inevitable like the other s-chips' cases.

DelphinusSnow      ( Date: 24-Mar-2011 23:05) Posted: be prepared for the worst....not wanting to scare u....but being in the audit line b4, i can tell u that cash & bank balances  are  very to verify. Auditors send audit confirmations to banks, bank list all the balances that companies have with them, auditors counter-chk to ledger. there may be some unreconciled items but these are easily verifiable (ex, cheques). banks may have made a mistake but that is easily verifiable too coz companies are supposed to keep the deposit slips/chq stubs/etc  and reconcile their bank balances consistently...for auditors to issue such warnings, it must be a pretty material amt too.... hpong5      ( Date: 24-Mar-2011 22:59) Posted: Lets see if they will require a Special Auditor. If not, still not the end of the world. Maybe just a case of poor book keeping and not hanky panky business. And will resume trading soonest but be ready for a further selldown...who knows maybe buy up...50/50 chance. Now is the auditor needs more than 3 days to check that's why i think also no choice have to suspend.

 

be prepared for the worst....not wanting to scare u....but being in the audit line b4, i can tell u that cash & bank balances  are  very to verify. Auditors send audit confirmations to banks, bank list all the balances that companies have with them, auditors counter-chk to ledger. there may be some unreconciled items but these are easily verifiable (ex, cheques). banks may have made a mistake but that is easily verifiable too coz companies are supposed to keep the deposit slips/chq stubs/etc  and reconcile their bank balances consistently...for auditors to issue such warnings, it must be a pretty material amt too....

hpong5      ( Date: 24-Mar-2011 22:59) Posted: Lets see if they will require a Special Auditor. If not, still not the end of the world. Maybe just a case of poor book keeping and not hanky panky business. And will resume trading soonest but be ready for a further selldown...who knows maybe buy up...50/50 chance. Now is the auditor needs more than 3 days to check that's why i think also no choice have to suspend.

 

All u said i totally fully agree! Pros that everyday do,talk,think,analysis,breath investment can also miss kill. And after so many past S-shit scandal, they still dare to promote S-shit again and again. Cause their firm also got it S-shit shareholding, dont load to u then who eat? U eat lor, if u greedy. I think their firm also suffer like siao, and those recent Big Krx institution who take Gaoxian share  at 405 i think also siao liao. They only can unload their share after 6 month of listing i think hold their own babies liao. Will they go mad? siao?

DelphinusSnow      ( Date: 24-Mar-2011 22:46) Posted: i am pretty surprised that investors dun seem to be cursing those analysts. true that the final decision lies with the investor himself, but aren't we letting the analysts off too lightly? they earn alot then anyhow spout nonsense, cause many people to lose money (just imagine someone who doesn't hv much knowledge to invest and listen to them...die man), then just fade into silence, then after some time the news die down...they come out and spout nonsense again....wat a good life...they are the ones who can have access to the documents to those coys/talk to mgmt which we investors might not have access to...if we can't even trust them to do a good job, can't trust the books, can't trust the company, can't even trust SGX, etc...kaoz...now i really know money very difficult to earn....