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Sino-Forest Update: "Office Temporarily Closed"

Tyler Durden's picture




 

A harbinger of what the front office doors of various investors in Sino-Forest will soon look like...

From a reader:

A friend of mine went to check out their Toronto office on Friday.    All the lights were off and boxes were stacked up against the front door.  He said it was the smallest office in the building.   I asked him to go take a picture this morning.  He did - a new sign was up on the door.  Office temporarily closed. 

Indeed.

h/t Tom

 

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Mon, 06/06/2011 - 08:59 | 1342922 plocequ1
plocequ1's picture

Seth Davis bitchez

Mon, 06/06/2011 - 09:00 | 1342924 Dolemite
Dolemite's picture

Gravity. What goes up must come down.


Precious metals to present good buying oppurtunity after a near term correction?

Gold and silver showing signs of weakness, and oil is confirming.

http://deadcatbouncing.blogspot.com/

Mon, 06/06/2011 - 09:53 | 1343082 Temporis
Temporis's picture

Why do I see your deadcatbounce blog link smeared over ever post on ZeroHedge?

Shits getting old man.

Mon, 06/06/2011 - 10:07 | 1343131 LowProfile
LowProfile's picture

Word

dead cat, if you want to build an audience, you're going to have to do it the hard way.  Which is going to be pretty hard, considering I didn't see anything other than the "same old, same old" on your site.

Mon, 06/06/2011 - 10:36 | 1343203 JW n FL
JW n FL's picture

I dont hate it when its in the mix, but not always the first fucking spot? or first 5 or what-the-fuck-ever! I come here for my "Fight Club!" not for some loser who is shamlessly plugging themselves all the fucking-live-long-day!

 

You fucking spammers save your shit for not the first thing I have to look at!

 

Or else!

Mon, 06/06/2011 - 10:56 | 1343266 CrankItTo11
CrankItTo11's picture

Zero Hedge really just needs to apply "nofollow" for links in the comments section. That way, people can't just boost their website SEO by posting links here. It won't stop everyone, but anyone with half a brain won't waste their time posting links on a website that doesn't allow web crawlers to follow them.

Mon, 06/06/2011 - 09:10 | 1342959 Internet Tough Guy
Internet Tough Guy's picture

You're either slinging crack rock or you got a wicked jump shot.

Mon, 06/06/2011 - 10:41 | 1343206 JW n FL
JW n FL's picture

+++++++++++++++++++++++++++++++++++++++++++

 

http://www.youtube.com/watch?v=rdciOXroU9o

 

Things Done Changed - Biggie (Original Version)

 

 

Mon, 06/06/2011 - 11:04 | 1343274 plocequ1
plocequ1's picture

Best rap album ever made and im not crazy about rap. A must have in your CD collection

Mon, 06/06/2011 - 09:02 | 1342923 mynhair
mynhair's picture

Just transitory.

Mon, 06/06/2011 - 09:03 | 1342926 Dolemite
Dolemite's picture

ZING ;)

Mon, 06/06/2011 - 09:07 | 1342953 Manthong
Manthong's picture

Soft patch.. or a slow patch - depending on the mouthpiece, but definitely a patch.

Mon, 06/06/2011 - 09:03 | 1342925 firstdivision
firstdivision's picture

Paulson was last seening charging at the door with a battering ram.

Mon, 06/06/2011 - 09:00 | 1342927 Josh Randall
Josh Randall's picture

Fumigation - bad gas

Mon, 06/06/2011 - 09:00 | 1342929 Poule Mouillee
Poule Mouillee's picture

They've gone to count trees to make sure the number is correct.

Mon, 06/06/2011 - 09:58 | 1343117 Troll Magnet
Troll Magnet's picture

if that's the case, it shouldn't take long.  the sign should read, "be back in 15 minutes" instead.

Mon, 06/06/2011 - 09:05 | 1342934 monopoly
monopoly's picture

GM. Makes me so glad I avoid most stocks. Have no desire to gamble. Odds much better in Nevada.

Mon, 06/06/2011 - 10:50 | 1343257 snowball777
snowball777's picture

You'll note there are many more pro poker players than roulette or craps.

Mon, 06/06/2011 - 09:06 | 1342939 RowdyRoddyPiper
RowdyRoddyPiper's picture

Sino Forest...The "Bre-X" of Trees.

Mon, 06/06/2011 - 09:07 | 1342941 Ancona
Ancona's picture

HA HA HA HA.

Well, another fifty million in "investor" cash has jusst disappeared in to teh Chinese wilderness, never to be seen again.

Mon, 06/06/2011 - 09:10 | 1342964 Manthong
Manthong's picture

Macau is wilderness?

Mon, 06/06/2011 - 11:21 | 1343336 snowball777
snowball777's picture

By Western regulatory standards? Yes!

Mon, 06/06/2011 - 09:03 | 1342943 pepperspray
pepperspray's picture

Only trees worth growing in that broom closet is some G13

Mon, 06/06/2011 - 09:18 | 1342972 lizzy36
lizzy36's picture

From the Sino-Forest Datat Room:

For our purchased plantations, we have applied for the corresponding Plantation Rights Certificates with the relevant local forestry bureaus. As the relevant locations where we purchased our purchased plantations have not fully implemented the new form of Plantation Rights Certificate, we are not able to obtain all the corresponding Plantation Rights Certificates for our purchased plantations. Instead, we obtained confirmation of our ownership of our purchased plantations from the relevant forestry bureaus. Based on the relevant purchase contracts and the approvals issued by the relevant forestry bureaus, we legally own our purchased plantations. (Excerpt from AIF)

72 hours and counting and this is the best they can come up with. Brilliant.

Mon, 06/06/2011 - 09:47 | 1343064 gmrpeabody
gmrpeabody's picture

If a tree falls in a forest that doesn't exist.....

Mon, 06/06/2011 - 10:10 | 1343146 ugly_avatar_Muir
ugly_avatar_Muir's picture

The English reminds me of e-mails promising $100,000's if I first wire a nominal sum to Liberia...

Mon, 06/06/2011 - 09:19 | 1342976 Seasmoke
Seasmoke's picture

hold all deliveries until june 22....LOL

Mon, 06/06/2011 - 09:44 | 1343060 BobPaulson
BobPaulson's picture

Yeah, cause on June 22, it will all be good again. :P

Mon, 06/06/2011 - 09:17 | 1342981 Chippewa Partners
Chippewa Partners's picture

T I M B E R R R R R R R!!!!!!!!!!!!!

Mon, 06/06/2011 - 09:24 | 1343002 WhOracle
WhOracle's picture

The company noted it also intends to announce the name of
an international accounting firm that it has hired, later today.
It will also host a tour of its Chinese plantations in July that
will be open to analysts.

Plane ticket not included, "So long suckers"...

Mon, 06/06/2011 - 09:28 | 1343004 Mitch Comestein
Mitch Comestein's picture

I just talked to Michael.  The rip on Sino-Forest is now $4!.

Mon, 06/06/2011 - 09:35 | 1343030 Foul Ole Ron
Foul Ole Ron's picture

This one will have legs. While it's perfectly fine it seems for Chinese companies to rip people off once the investors are your average sort of investors / dupes it's another thing gouging Paulson and the like. Some peoplea are going to feel some heat over this one. Still, sure is funny to watch for now.

Mon, 06/06/2011 - 09:38 | 1343041 casey13
casey13's picture

The market is currently saying they don't believe the aligations. Up 52%. 

Mon, 06/06/2011 - 09:46 | 1343072 Tyler Durden
Tyler Durden's picture

Look at the short-interest.

Mon, 06/06/2011 - 09:52 | 1343074 d00daa
d00daa's picture

LOLOLOL, "up" 52% from $4.81, on a stock that was priced in the high teens a few days ago.

Yeah, that's some real market conviction there.  Buy that dead cat bounce with both hands, casey.

Mon, 06/06/2011 - 09:53 | 1343092 casey13
casey13's picture

If the shorts really believed it was a fraud they would not buy back.
If the company is delisted then they pay no taxes on their gains.

Mon, 06/06/2011 - 09:55 | 1343099 Rusty Shorts
Rusty Shorts's picture

"Meanhile, Carson Block, Hong Kong-based founder of Muddy Waters Research, told Bloomberg News his company will keep betting against Sino-Forest Corp. until the shares reach “zero.” "

 

http://business.financialpost.com/2011/06/06/sino-forest-fights-back/

Mon, 06/06/2011 - 09:51 | 1343075 weltvermesser
weltvermesser's picture

Market might be wrong.

Company today stated: Sino-Forest has released today on its website a summary schedule of cash and cash equivalent and short term deposits along with a detailed listing with copies of its bank statements confirming the cash held within the Company as at that date. The Company has conducted business in the ordinary course since then and made ordinary course expenditures, and its cash remains intact with the majority of it in banks in Hong Kong.

BUT there are no such certified statements on the website. i couldn`t find any. + if they have 1 Billion in cash like they claim. why not distribute meaningfull dividend to show everyone they are solid.

Dead CaT bounce. delist to come! imho

Mon, 06/06/2011 - 09:57 | 1343080 Franken_Stein
Franken_Stein's picture

 

They are scrambling to hire some 100000 migrant workers to plant some trees made of plastic or rubber, but only the first 3 rows, no flyovers allowed, to show that their business is actually "flourishing".

Potemkin's villages anyone ?

 

Everything alright, nothing to see here, please move on.

Just a minor glitch and misunderstanding.

Very transitory and soft-patchy indeed.

 

Regards, your Chinese state ministry for security and harmony

 

Mon, 06/06/2011 - 10:00 | 1343109 Rusty Shorts
Rusty Shorts's picture

 - ah yes, the 'ole "slip shuck"

Mon, 06/06/2011 - 09:54 | 1343086 Übermensch
Übermensch's picture

Was that note stuck from the inside or the oputside?

Mon, 06/06/2011 - 09:51 | 1343089 Confucious 222
Confucious 222's picture

Easy fix. They just hire Peter Diamond, Nobel Prize-winning top USA educated Economist Extraordinaire, to turn it all around.

Understand he is between "assignments" this very day.

Mon, 06/06/2011 - 10:01 | 1343105 dwdollar
dwdollar's picture

Sino-Suckered.

Mon, 06/06/2011 - 09:59 | 1343120 Blankman
Blankman's picture

Its that damn emerald ash borer

Mon, 06/06/2011 - 10:14 | 1343151 Miss Expectations
Miss Expectations's picture

Well, should reactor 4 blow up (or melt down) I suppose the Japanese could move to the empty Chinese cities and work on these plantations.

PS...perhaps Hat Tip Tom could ask his friend to stop back at the Toronto office on June 22nd and provide another photo update?

Mon, 06/06/2011 - 10:23 | 1343162 Fix It Again Timmy
Fix It Again Timmy's picture

Sino-arrah, suckers...

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