Renewable Energy- Bullish divergence detected in the indicators.

I don't get this. REAG asked for extension of time to hold AGM and was given the 'yes' fr SGX - because it needed time to supply business data to its independent auditor. Why is this a reason for not holding the AGM yet? Why does the auditor even need to scrutinise the cashflow and profit forecasts of the company?


Announcement:
The Group has, in mid June, provided to the Group’s independent auditor (“Auditor”) the cash flow and profit forecasts (“Forecasts”) of the Group’s wholly-owned subsidiary, Renewable Energy Asia (China) Co. Ltd (“REAC”), for the next financial year ending 31 March 2012. To support the Forecasts, the Group provided the sale contracts on-hand, potential projects in the pipeline, as well as gross profit margin estimations of REAC.
After a preliminary review by the Auditor, the Auditor requested for more data and evidence from REAC to support the estimations used in the Forecasts. These included a revision of the Forecasts, as well as supporting evidence of expected margins and expenses, production capacity, and personnel resources, which require more time to collate.

cheap became cheaper. Now 5 cents. Unbelievable. and Scary.
maybe 3 cents, I will tikam
[hr]
[garl 11-07-2011]:

More tempting now at 6.7? Or more scary?

No 3 cents.... Instead up a bit to 7+c. Actually not a bit , it's 40% up from 5 cents.

Chairman Xu Jian's vehicle bought on 26 July 1.504 million shares at 6.58 cents.
Is this a real bargain when REA has a number of issues facing it?
 

8.1 cents now! Won't bother to consider any more..... But regret not picking it up at 5 cents. Missed a 60% return in a matter of weeks.

So how now brown cow? REAG is 5.9 cents currently and would be worth a lot if they can sort out the accounting matters soon. Their wind farms need to get going ....then the income stream is assured.

Stock has stabilised for a few weeks already at around 6 cents. Surprised to read that the CEO, Mr Woo, has resigned. Less than a year on the job.

To be replaced by Dr Zhang, the current dy chairman. The Chinaman connection becomes pronounced.