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Saturday, March 25, 2006

CXTI Sept 05, 2005 10-Q/A

This is old news, but I compared CXTI's Q3 quarterly report here with their amended Q3 quarterly report here. The diff output is located here. Have fun going through it, if you choose to do so.

This is the worst sort of nuisance filing. It contains a huge number of formatting changes, grammatical corrections, and such. There's only one significant change that I found, and even that change wasn't anything too important: they included a subsequent event that we already know about.

Conclusion: So these people are apparently newbies at doing SEC filings. I've seen this many times before with other Chinese reverse mergers. I suppose you could argue that if the SEC filings had been done flawlessly, that would be a red flag. I consider this a non-issue.

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