Sino Clean Energy Announces Asset and Cash Verification Results
Sino Clean Energy Inc. (NASDAQ: SCEI) today announced that Thornhill Capital LLC recently completed its Asset and Cash Verification Reports for the Audit Committee of the Company.
As previously noted, the Audit Committee engaged Thornhill, an independent third-party evaluation agency, to conduct certain analyses to assist the Audit Committee and its professionals to investigate allegations made by short sellers.
Last November, the Company announced Thornhill's reconciliation of the Company's tax returns filed with the State Administration of Taxation and its filings with the State Administration of Industry and Commerce against audited financial information filed with US Securities and Exchange Commission under US GAAP. Since that time, the Audit Committee requested Thornhill to do additional work, and provide additional reports, regarding verification of fixed assets and cash. Thornhill has now completed its analysis and provided its reports on these two additional matters.
