Blog Moved

I have moved the blog to http://walrusvalue.blogspot.com/

 

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moving blog soon & walrus value is hiring

Moving my blog soon. Not sure where I want to move it.  Any suggestions?

Blogger has google analytics and allows for more embedding  but the sites generally looks really ugly. Best part it’s free!

WordPress.com, this is what i have now, but I’d want to change it to a matching url. I like wordpress.com layout, but I can’t get google analytics and I have trouble embedding most videos. Best part, it’s free!

WordPress.org, this is what I’d aspire to. I would have my own domain, and lots of flexibility in terms of what I could post and the stats with google analytics.  The worst part, it costs money…and I really dislike spending money.

Right now I am leaning toward Blogger, anyone have any bad things to say about blogger?

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Also, I am currently trying to hire a Taiwanese student or recent graduate to do some research for me. I am utterly fascinated with these Chinese frauds but I can only point out red flags in the SEC filings. I need someone to get me to the next step… SAIC filings, talking to vendors, customers and court filings.

Here is my advertisement I am posting on the internet college board:

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LOOKING FOR: Fraud Investigator, IMMEDIATELY

Hello,

I am an American living in Taiwan looking into several mainland Chinese companies that are possibly committing accounting fraud on the US listed stock exchanges.  I need a native Chinese speaker to help me do research.

DUTIES

1. Researching information on mainland Chinese web sites
2. Calling companies in order to gain information
3. Calling Chinese government offices to get information
4. Translating documents and conversations into English.
5. Reading Chinese financial documents

QUALIFICATIONS

1. Native Chinese speaker
2. Ability to read and  type in simplified  Chinese
3. Ability not to be intimated by high government officials or corporate executives
4. Understanding of Business &  Accounting

PAY

1. 200NT per hour

Call Josh at: 09.75.303081 or e-mail at wallis.joshua@gmail.com

I need someone immediately, please do not hesitate to call if this interests you.

This is a part time job that, that may last a week or a month.  Anyone is welcomed to apply as long as you feel qualified, students or graduates.

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Update: I have already gotten one resume in, I am psyched.

Crazy Disclosure #1

There are some crazy disclosures out there. I read them and I think “how could anyone be long this company…” Here is the first crazy disclosure*

In July 2006, the Company sold all of its interest in DaRen Consulting (China) Ltd. (“DaRen”), to Daren’s management team for a cash consideration of approximately $3,090 (RMB25,000). The Company also released DaRen from the obligation of $6,080 in loans payable to the Company and injected transitional working capital of $1,015 into DaRen. The cash consideration to be received from DaRen was to be paid from DaRen’s net profits over four years through 2010, secured by a share pledge of 44% of DaRens equity. The Company has no involvement in DaRens’s operations after the disposal date. The Company believed that there was significant uncertainty regarding the collection of the proceeds from this sale given the negotiated terms of the agreement and DaRen’s cumulative operating losses. Accordingly, recognition of the sales proceeds of $3,090 was not recorded on the sale date. In July 2007, the Company and DaRen’s management entered into a supplementary agreement to reduce the cash consideration of RMB24,000 (an equivalent of $3,075) to RMB12,500 (an equivalent of $1,711), which was received by the Company in December 2007. An outstanding payable balance to DaRen of $139 was also waived according to the agreement. The total amount of $1,839 was recognized as gain in the consolidated statements of operations in year 2007

*Names have been changed and some numbers have been changed (non-materially) in order to keep this company a secret until a full research report is released in the public domain.

Read The Footnotes!

Currently reading some SEC filings and the footnotes tell such a story of sick corporate governance. I doubt most people would have gone long this company if they would have just read the whole filling.

So please read the filings!

Use Chrome to search through SEC documents easier

I’ve been searching through some SEC documents and at first I was using Firefox but their in browser search isn’t very comprehensive or as useful as Google Chrome.

Just a tip for all those filing lovers.

A Song For all the Shareholders of Chinese Listed Companies

EDIT: I originally embedded a youtube video here, but now, I realized it was a jerky thing to do. For anyone who listened to the song, I hope you were not offended. I’ve lost money before investing into too good to be true RTOs and companies I have done more due diligence on.  Sorry for anyone’s loss of money…that was time at work, birthday gifts, holidays with friends & family, retirement savings and funds for your child’s university education.

Taipei Real Estate Bubble Photos (all photos)

Last Tuesday I hopped on my scooter and took a bunch of photos of newly constructed or near completed empty apartment buildings.

Here are all the photos I took that day. I did take some videos but after watching them, I realized my commentary and unsteady videos were obnoxious. Enjoy the photos.

I realize there probably needs to be commentary on every photos for it to make sense to the viewer. Maybe I’ll do that later.