China Mobile Games (CMGE) published a response to GeoInvesting this morning at about 9:10am. We encourage all of our members to read this response very carefully, as we believe it falls flat and shies away from the key issues that […]
Summary China Mobile Games is a mobile gaming company that we believe is engaging in questionable business practices and operating in a cloud of obfuscation. We believe CMGE could be overstating its revenues significantly through an improperly disclosed relationship with […]
Summary CGA’s response to our original report has consisted of blanket denials and potentially staged investor days, completely devoid of primary source evidence to disprove our thesis After CGA excluded its only analyst from attending its investor days, the analyst […]
Summary CGA claims to have invested $113 million to build out a vast network of franchised retail stores that do not appear to exist. In its 10-K, CGA claims to have 26,175 branded retailers. We have found little evidence that […]
Summary: 344 days of time-lapse surveillance of CGA’s high-margin Jinong fertilizer factory, contributing 75% of CGA’s gross profit, shows it only shipped around 10% of the volume CGA reports it sold. 51 days of time-lapse surveillance of CGA’s low-margin Gufeng […]
Summary We believe Stellar Biotechnologies’ (SBOTF) share price to be a product of a well timed promotional campaign. SBOTF’s share count has risen 88.2% in three short years and the September 2013 PIPE was done at a fully diluted share […]
Summary We offer a rebuttal to all four of XXII’s counterarguments to our piece published Wednesday (yesterday) morning. Rather than worry about the nuanced arguments XXII made in its rebuttal, we believe investors should be more interested in what XXII […]
Call(s) to Action: CBAK ($3.78) – Q3 SEC filing provides more color on CBAK’s current financial state, disclosing that it lost its primary operating assets to foreclosure proceedings. The company is essentially approaching zero cash ($272,115) negative equity of $19.5 […]