GeoInvesting Remains Short China Mobile Games, Questions Company's Contradictions and Reiterates Caution
SKIPPACK, Pa., Feb. 5, 2015 /PRNewswire/ -- GeoInvesting, LLC ("GeoInvesting" or "Geo"), a research company that specializes in providing high quality insights on equities both in the China and U.S. spaces, today announced that it is releasing its third report on China Mobile Games. This report looks at statements the company has made to both its U.S. investors and the Chinese media.
In the report, GeoInvesting highlights statements that China Mobile Games has made which seem to contradict one another. In this report, Geo also points out that China Mobile Games has admitted openly to sharing an address with Zhongzheng, the undisclosed entity in question. Finally, Geo's report points out that the "glaring omission" in its exchange with China Mobile Games has been the company's silence on Chenghai Dan, a former China Mobile Games employee and current legal representative of Zhongzheng. The report, in its entirety, is available at www.geoinvesting.com.
GeoInvesting originally wrote a report called "China Mobile Games: Who is Really Being Played?" on January 15, 2015, which laid out the argument that:
- China Mobile Games is operating in a cloud of obfuscation
- Undisclosed related parties of China Mobile's business remain a risk for U.S. shareholders
- The company could potentially be overstating revenues
Two weeks ago, CMGE issued a response to GeoInvesting's assertions. The company's response lacked key details, failed to address GeoInvesting's concerns, was brief in nature and can be viewed in its entirety here.
On January 26, 2015, GeoInvesting released a rebuttal, available here, where Geo claimed that China Mobile Games' response to this issue seems purposefully vague and unresponsive to our key concerns.
To receive exclusive notice of further reports from GeoInvesting, as well as to access its archive of research and insights, readers can visit www.geoinvesting.com and become part of GeoInvesting's investment community.
Contact
Dan David
Co-Founder and Vice President, GeoInvesting, LLC
(484) 991-8426
About GeoInvesting, LLC
GeoInvesting, LLC is a research company that specializes in providing high quality insights on equities, both in the China and U.S. spaces.
SOURCE GeoInvesting, LLC
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