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  4. E-Waste Systems, Inc. (EWSI) Message Board

OK, call me negative, but explaining the difficult

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Post# of 3844
Posted On: 03/08/2014 2:00:06 PM
Posted By: BoBo
OK, call me negative, but explaining the difficulty of doing business in China is not an adequate excuse for what happened. The first accounting firm was let go partly due to lack of China experience. EWSI said as much. That's fine and easily defensible. They were a small firm that did an adequate job getting EWSI going, but not a firm they wanted to really grow with. Then Malone was announced ballyhooing their international and specific China experience. Then in hardly more than 4 weeks or so Malone bails. EWSI didn't let them go. Malone bailed!!!!, thus making EWSI look the guilty party. But here's the crux of the issue. Why in the hell would Marty bring on and announce, and dare I say brag, about Malone without completely settling and agreeing on the China revenue issue with them, i.e. how the hell to handle the $700k china revenue? Simply smacks of poor management, I'm sorry. Doesn't matter how you diehards try to spin it. And is what I think is Marty's first stumble that we've seen.

Not to mention trying to do visible business in China at all when it's such a black hole accounting wise. Plenty of other markets in this fast growing industry with much less chance of getting a black eye. Develop China, sure, cause it's a huge potential market, but keep it the hell off the radar till it's safe and known how to do business with them. Another questionable decision IMO.

Anyway, we all know EWSI, any OTC company, is a big risk. One we have all been ready to take. It's just that my idealistic view of EWSI and Marty's infallible management has been shaken a bit, as I'm sure it has with everyone.


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