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  "documentTitle": "RINO International Corp. (RINO)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "presentationDate": "2010-11-10 00:00:00",
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  "notes": "This is a research note from Muddy Waters Research exposing potential fraud or misrepresentation by RINO.",
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      "text": "Were RINO to have really generated the $116.4 million in steel sinter FGD sales it claims for 2009, it is improbable that it would have such a low profile among its competitors.",
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      "kind": "paragraph",
      "text": "In contrast, the producers gave the same two names when asked to discuss the market leaders: Long King, and China City Environment Protection Engineering Limited Company.",
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      "text": "RINO is an obscure player in the steel sinter FGD system industry. The FGD producers (i.e., RINO's competition) with which we spoke were either unfamiliar with RINO, or stated that it is a small company.",
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      "text": "Investors can be forgiven for not understanding that RINO is an obscure company in the steel sinter FGD industry. RINO has not been forthcoming about being in the middle of a crowded field.",
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      "text": "27 http://www.longking.com.cn/Investor.asp?MID=51&NID=424, p. 19\n28 RINO International Corp. December 31, 2009 Form 10-K (filed March, 31, 2010), p. 13.\n29 http://www.longking.com.cn/News.asp?MID=8&NID=278\n30 http://www.miit.gov.cn/n11293472/n11293832/n11293907/n11368223/12484645.html",
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      "text": "RINO: obscuring obscurity",
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