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was there an actual figure given for the revenue they did not recognize for doubtful accounts like last Q?

I did not see it in the 10Q. Given the exchange rate impact last quarter, I think it would add a couple of percent to the revenue. With the go-private offer, Wu may not have wanted to share this detail as it only makes things look a little better than if you just look at the shipping volume.

The company paid $3 million and 3.6 million shares for acquisition of the customer list. This was supposed to increase margins not decrease revenue

Given that they could have shipped more to the Hebei province and not recognized the revenue, 2012 revenue could be understated. Comparing 2011 to 2012 is not really comparing apples to apples. Also, at its current share price, the $3M plus 3.6M shares is only $22.5M, which is less than 5% of this year's revenue. Not really that material.

On another topic, it looks like the shorts covered 530,000 shares or 20% of the short interest during the last 2 weeks of October. That is pretty aggressive short covering.

Did anyone find it curious that Sam was not on the call? I wonder if there was some internal conflict over the go-private offer.
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