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  "docSlug": "85021cb773d9",
  "documentTitle": "RINO International Corp. (RINO)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2010-11-10 00:00:00",
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  "notes": "The slide uses a narrative structure to highlight discrepancies in accounting and legal filings.",
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      "text": "These inconsistencies indicate that there was a rushed effort to account for the funds.",
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      "text": "The notes to the 10-K state that Zou and Qiu borrowed “approximately” $3.5 million, and had repaid $300,000 by the time of filing. However, the balance sheet netted the $3.5 million against $494,614 RINO owed to the couple as of December 31, 2009, showing a “due from shareholders” balance of $3,005,386. On the other hand, the cash flow statement shows that during 2009, RINO made a “payment to shareholder” of $5,093,486, while showing “proceeds from shareholder” of $1,532,372, which produces a net amount of $3,561,114. These inconsistencies indicate that there was a rushed effort to account for the funds.",
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      "text": "38 RINO International Corp. December 31, 2009 Form 10-K (filed March 31, 2010), p. 35.",
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      "evidence": "The document concludes that RINO is not a viable investment opportunity",
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