Posted On: 01/06/2014 10:50:12 PM
Post# of 3844
Has anyone read through the SEC filings on 1/2/14?
http://www.sec.gov/Archives/edgar/data/148830...inbody.htm
"One investment had been booked at the lower valuation based upon the first half of a transaction and the company had not restated the valuation to the proper face value of an investment in preferred stock upon receipt of the actual certificate. That change resulted in an approximate $700k increase to the balance sheet . In addition, based upon documentation review by the auditor, agreements by the Company for lease and operating relationships with business in China had been booked by the company as a VIE and both parties agreed that the consolidated financial statements should be changed to eliminate the consolidation based upon the auditors determination. This change affected revenues and expenses."
Does this mean they have 700K more than what was documented?
http://www.sec.gov/Archives/edgar/data/148830...inbody.htm
"One investment had been booked at the lower valuation based upon the first half of a transaction and the company had not restated the valuation to the proper face value of an investment in preferred stock upon receipt of the actual certificate. That change resulted in an approximate $700k increase to the balance sheet . In addition, based upon documentation review by the auditor, agreements by the Company for lease and operating relationships with business in China had been booked by the company as a VIE and both parties agreed that the consolidated financial statements should be changed to eliminate the consolidation based upon the auditors determination. This change affected revenues and expenses."
Does this mean they have 700K more than what was documented?
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