Commenter Fiona suggested that we take a closer look at Kevin Theiss, IR man to the stars. He has had a really bad week.
By your author’s count, Kevin serves as the paid shill for 5 companies. All 5 are Chinese reverse-merger dreck. Let’s dive in!
First there is the world-famous China Agritech (CAGC), with one of the world’s finest CFOs, Gareth, and a board that includes Gene Michael Bennett. The 10K is late, and CAGC shares remain halted. The firm is still searching for an auditor.
Then there is China Shen Zhou Mining (SHZ). SHZ also features Gene Michael. Although Kevin happily put out a press release to announce the formation of SHZ‘s own Very Special Committee, Kevin did not put out a press release the next day announcing the departure of the CFO. SHZ tried to sneak that by in an 8K filing.
Another one of Mr. Theiss’s clients is China Automotive (fka Visions in Glass) (CAAS fka VSIO). China Automotive was a reverse-merger abortion orchestrated by Tim Halter of Halter Financial fame. Tim Halter‘s father and brother got into some hot water with the SEC recently. Read about that here and here. Barrons has run extensive articles on Tim Halter and the shenanigans in the Chinese reverse merger septic tank. Read those here and here. Just this morning CAAS announced that is will be late with its 10K and will have to restate 2009 and 2010 statements.
Another client is ShengdaTech (SDTH). Like CAGC, Shengda has been halted. The company has not filed its 10K, and is the third of Kevin’s clients to form a Very Special Committee. This is from a press release:
SHANGHAI, March 15, 2011 /PRNewswire-Asia-FirstCall/ — ShengdaTech, Inc. (Nasdaq: SDTH), a leading manufacturer of nano-precipitated calcium carbonate (“NPCC”) in China announced that it had appointed a special committee of the Board of Directors to investigate potentially serious discrepancies and unexplained issues relating to the Company and its subsidiaries’ financial records identified by the Company’s auditors in the course of their audit of the consolidated financial statements for the fiscal year ended December 31, 2010.
Kevin must be pretty busy with the damage control this week. At least his final client is making things easy for him. Yanglin Soybean (YSYB), an little OTCBB number which almost never trades, and has a tiny $19mm market cap. Yanglin started life as Victory Divide Mining (VCDV) one of Glen Little‘s stable of shells out of Midland, TX. Given its roughly 200 shares per day average volume, he probably has plenty of free time to concentrate on his other fine clients.