Auric Goldfinger's Short List Message Board

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Non-Tech : Auric Goldfinger's Short List

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From: Lahcim Leinad	11/15/2010 8:55:42 AM
	of 19428

Muddy Waters on RINO International Corp. (Nasdaq: RINO) Strong Sell RINO claims to be the leader in selling desulfurization (“FGD”) and other environmental equipment to Chinese steel mills. It reported 2009 revenue of $193 million. In reality its revenue is under $15 million, and its management has diverted tens of millions of dollars for its own use. We value RINO based on the cash we believe remains in the company after the most recent raise. Much more: muddywatersresearch.com RINO Comments on Muddy Waters Allegations istockanalyst.com Meanwhile today: 6:58AM RINO Intl misses by $0.11, misses on revs; guides FY10 revs below consensus (RINO) 11.01 : Reports Q3 (Sep) earnings of $0.31 per share, excluding non-recurring items, $0.11 worse than the Thomson Reuters consensus of $0.42; revenues fell 16.7% year/year to $52.7 mln vs the $55.5 mln consensus. Co issues downside guidance for FY10, sees FY10 revs of $203.0-211.0 mln vs. $222.99 mln Thomson Reuters consensus. Affected by reform and contracting cash flows in the iron & steel industry in China, the company is expecting softer demand for its services in the immediate future. From: finance.yahoo.com

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