Citron reports on Terra Nostra (OTCBB:TNRO)

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Terra Nostra Resources
…Getting’ the Old Gang Back Together

It is like a bad sequel to Oceans 11. Let’s get the gang back together one more time for one more gig. Maybe this one it will be our last, but one never knows…. With a story that lacks the appeal of a Frank Sinatra or a George Clooney, but will certainly leave you scratching your head asking, “doesn’t anyone regulate this?”…Citron introduces to you Terra Nostra Resources.

In the late 1980’s there was a Vancouver Stock Exchange Company called South China Resource Corp that had a joint venture with the Chinese Government to farm prawns. The CEO of the company was James Poe. After some flashy announcements, the stock jumped but the company never delivered on promises to shareholders. One of Mr. Poe’s directors was his own wife Paula Poe. Read more

Citron Updates Home Solutions of America … The Bank Speaks.

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It is beyond debate that Home Solutions of America is facing a cash crunch. We have seen many public criticisms of their constant late or non-payment of subcontractors, while lawsuits and liens keep piling up.

http://pubrec3.hillsclerk.com/oncore/search.aspx?bd=10%2F4%2F2007&ed=10%2F22%2F2007&n=marshall%20investments&bt=O&d=10%2F22%2F2007&pt=-1&dt=ALL%20DOCUMENT%20TYPES&st=fullname

Its lifeline for survival its bank line of credit, collateralized by its receivables, as structured by Texas Capital Bank. Until last week, we were in the dark about the real status of the loan. Read more

Citron Notifies NASDAQ About Home Solutions of America

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Over the past 5 months, Citron Research has delivered groundbreaking research on what we believe is an ongoing fraud in the marketplace committed by Home Solutions of America and its management team.  We have no doubt that this will end badly for shareholders — it has just become a matter of when. 

The company has not only misled investors with its nebulous financial statements, they have now gone as far as filing false documents with the Securities and Exchange Commission.  As CFO Jeff Mattich is preparing his Q3 numbers, he should first look at what he did on the Q2 10-Q.  It was two months ago that the company stated and reflected in their financials an agreement that required approval of their Line of Credit lender. 

Now two months later, the lender still has not signed off on this revised deal with Home Solutions and investors are still unsure about the actual status of the line of credit.  While management flies around on private jets, investors do not even know if the company has enough money to pay its bills…and based on the amount of liens and lawsuits against Home Solutions, we believe the company is facing a major cash crunch that is normally a precursor to bankruptcy.

Attached is a letter written to the NASDAQ explaining Citron’s opinion on the current status of Home Solutions of America disclosure to the public.  This letter was sent via email and certified mail to appropriate persons at the NASDAQ. 

nasdaqwarningletter.pdf

Cautious Investing To All

So You Want to Sue Citron Research.

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As most of you know, my name is Andrew Left and I have been publishing under the Stocklemon.com and now CitronResearch.com banners for over 6 years. A common question I am asked is, “How often do you get sued?” To date, I have been sued 5 times and have never lost a case. The reason is that I am always prepared to defend anything I write in a court of law.

Most recently, Home Solutions CEO Frank Fradella told a Dallas newspaper, “We have spent some significant dollars understanding what our legal rights are against him.” Well we thought we would share with our readers and with Mr. Fradella the fate of two CEOs whose companies filed suit against Stocklemon … one of these fates being realized just last week. Read more

Citron Covers China Medical Corporation (OTC:CHME)

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Its obvious to everyone following the markets that since the Fed rate cut, China stocks are red hot. Contributing factors include China’s robust economy, the weak US dollar, and a typical wave of stock trading momentum …. anything with a China story is running hot.

In case you’re thinking “how do I find a little China stock that isn’t horribly overpriced, that actually has a strong balance sheet, real income and earnings, and hasn’t been discovered yet?”

Take at look at China Medical Corporation Read more