Huggy Bear
13 years ago
Not saying GCHT is a CCME by any means, and your points are valid. Perhaps Deloitte has realized they were way too lax in the past verifying the documents of their Chinese companies and no longer wants to be associated with any of them.
I found it interesting that Deloitte told them to find a big 4 to re-audit the old documents - Huh, I thought they were big 4?
Seems like a tongue in cheek slap to the company to me, perhaps questioning whether any other big 4 auditor will ever touch a US listed Chinese company again?
I dont know. I got scalded by holding CBEH too long thinking my investment was isolated a bit and protected by having KPMG on the books.... Wrong..... All of the big 4 auditors have been spanked around to a degree by the space.
Good luck with this, it may pan out, extremely undevalued and thats why I still stalk.
ErnieBilco
13 years ago
Feb 24, 2012 news
GC China Turbine Announces the Resignation of Chief Financial Officer Chen Guijun and Director Marcus Laun, and the Appointme...
GC China Turbine Corporation ("GC China" or the "Company") (OTCBB: GCHT) today announced that Mr. Chen Guijun resigned as the Company's Chief Financial Officer on February 22, 2012 and Mr. Marcus Laun resigned as a member of the Company's Board of Directors, effective as of February 17, 2012.
"I would like to thank Mr. Chen Guijun for serving as the Company's Chief Financial Officer for the past nine months and for his wisdom and guidance, and I would also like to thank Mr. Marcus Laun for serving as a member of the board of directors of the Company for his contributions," said Mr. Hou Tiexin, Chairman of the Company. "We will miss Mr. Chen Guijun and Mr. Marcus Laun and wish them the best in their futures."
The Company also announced the appointment of Mr. Gong Maosheng as Interim Chief Financial Officer effective as of February 22, 2012. An accountant by training, Mr. Gong currently works for the Company's wholly-owned subsidiary, Wuhan Guoce Nordic New Energy Co., Ltd., where he provides financial and accounting expertise.
About GC China Turbine Corp.
GC China is a manufacturer of state-of-the-art 2-blade and 3-blade wind turbines based in Wuhan City of Hubei Province, China. The Company holds a license to manufacture what it believes is a groundbreaking technology which meets rigorous requirements for low-cost and high reliability. For more information visit: www.gcchinaturbine.com
pos_stock_hoarder
14 years ago
I've traded this one a few times (2 out of 3 record, which next to my, ahem, investment in CCME is awesome) and am thinking of playing it long again, what with the price at .39 again.
However, I haven't done a ton of research on this one and this post, from a Yahoo short, gives me pause.
Do you have any comment on it?
TIA
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=te&bn=95435&tid=784&mid=784&tof=1&frt=2#784
BiotechValues
14 years ago
More on Q4 numbers- should be very big...if they were telling the truth
Q4 should be very big for GCHT IF what they stated back in November was accurate.
According to the q3 pr and filing, for the 9 months of 2010 they had sold 47 (out of the 100 units they said they were on track for in 2010)...leaving revenue from 53 units for q4 alone.
GCHT had to push back revenue from 23 units from q3 to q4 due to a customer that had not finished the ground prep for the installation and could not take delivery. They then pr'd in December that those units had in fact been delivered, and that revenue from them would be counted in q4. Then they had another 30 units still slated for delivery in q4 in addition to those 23 units. All revenue should be accounted for in q4- and as of 11/15/2010, they state they were on track to meet the 100 unit goal. Again- this would leave revenue from 53 turbines to be counted in q4.
2011 outlook from November sounds strong with 50-100% growth in turbine sales over 2010:
"Our customers and demand for our turbines, are both strong, and growing. We are very upbeat about our outlook for 2011, and, based on our current pipeline of business, we expect to ship a range of 150 to 200 turbines next year"
http://www.gcchinaturbine.com/news/news.aspx?nrnum=323
Auditor is Deloitte Touche Tohmatsu