Alfredlittle.com(A*L)publishescuttingedgelongandshortinvestmentideas andresearchfocusingoncompaniesoperatinganddoingbusinessinChina.A*L isprimarilysupportedbytheeffortsofanalystsandinvestorsbasedin China.A*Lwelcomesanyonetocontributearticlesandreportsforpublication providedtheymeetthesitesstandards. Ourcontributorsareveryexperiencedinvestors,analysts,investigatorsand otherprofessionalsfromacrossChinaandNorthAmerica.A*Lactsasaplatform foritscontributorstoanonymouslysharetheirbestinvestigativeresearchand investmentideaswithoutfearofthreatsandunwarrantedretaliation. AlloftheresearchandideaspresentedonA*Larebynatureinstantlysubjectto intensepublicdebate.A*Lnegativereportsareimmediatelyattackedbythe subjectcompanysmanagement.A*Lpositivereportsareoftenheraldedby companymanagement.Asinvestors,analysts,auditorsandregulatorsreview thefactspresentedinA*Lreportsthetruthisoftenquicklydeterminedandthe stockpriceadjuststoreflectreality.

y.Inmanycasesregulators(SEC,NASDAQ, NYSEandPCAOB)auditorsandindependentdirectorsandenforcementagencies (suchastheU.S.DepartmentofJustice)havetakenactionbylaunching investigations,delistingstocksandtakingcivilactionincourtagainst managementoffraudulentcompaniesfirstexposedbyA*L. Intodaysreportwebrieflysummarizethehistoryofourpublicationsonatotal of19companiessinceA*LsinceptioninMay2010.Weconsiderasuccessful publicationonethatconvincedinvestors,analysts,auditors,independent directorsorregulatorstotakeactionacknowledgingpartorallofthereports findingsarecredible. Basedonthiscriteria,A*Lhaspublishedsuccessfulinvestigativeresearchand reportson15companiestodateasoutlinedbelow.

WhataretheCredentialsofAlfredlittle.com?

Alfredlittle.com Successful Publications

1. CHNG Short Position Price before Publication: $7.17 Recent price: $1.97 5/20/10 Pointed out aggressive accounting and noted its Chairman admitted what amounted to Foreign Corrupt Practices Act (FCPA) violations disclosed in their Q1 2010 results

8/13/10 Company admitted its Chairman borrowed $17.7 million from the company without disclosing it and warned investors could no longer rely upon the companys previous financials. 12/6/10 Auditor Frazer Frost resigned 12/23/10 CFO David She resigned 1/28/11 We published a follow up negative report. 9/21/11 NASDAQ halted CHNG after management announced previous financial results could no longer be relied upon.

2. CNTF Long Position Price before Publication: $3.15 Closed out price: $4.04 (10/15/10) Recent price: $2.21 8/27/10 Pointed out the stock looked cheap. 10/15/10 Reported our contributor sold his position at $4 or higher.

3. CGA Short Position Price before Publication: $10.05 Recent price: $5.48 8/31/10 Pointed out 12 signs of fraud investors should monitor to avoid losing money in Chinese RTO stocks. Pointed out numerous signs of fraud at CGA. 9/3/10 We published a follow up negative report. 9/14/10 We published a follow up negative report. 10/19/10 We published a follow up negative report. 1/12/11 Company press release acknowledged the US Securities and Exchange Commission (SEC) has launched an informal inquiry into the company. 5/6/11 - Company disclosed in its form 10-Q that the SEC is conducting a formal investigation into its previously reported financials and other fraud allegations.

4. RINO Short Position Price before Publication: $15.52 Recent price: $0.12

11/10/10 Pointed out its VAT filings in China indicated it's a fraud. 11/19/10 - RINO's Board of Directors filed an 8-K declaring previously filed financials should no longer be relied upon. 12/2/10 - NASDAQ delisted RINO stock. RINO disclosed that the company has been notified by the Staff of the Securities and Exchange Commission (the "SEC") that it is conducting a formal investigation relating to the Company's financial reporting and compliance with the Foreign Corrupt Practices Act.

5. YOKU Short Position Price before Publication: $38.9 Closed out price: $32.48 (1/21/11) Recent price: $18.99 1/11/11 Pointed out the company would have trouble ever turning a profit and was overpriced. Noted the position was closed out on 1/21/11.

6. CCME Short Position Price before Publication: $13.14 Recent price: $0.23 2/7/11 Pointed out the company had long been suspected of fraud and would have a hard time refuting short sellers allegations. 3/8/11 Follow up negative report showing one of their airport bus businesses was in reality unprofitable and that the company concealed its founders efforts to sell his shares. 3/11/11 NASDAQ halted CCME stock. Auditor Deloitte resigned, citing the management's representations can no longer be relied upon and recommending an independent investigation. The CFO and a director representing the Private Equity investor C.V. Starr both resigned on the same day. 5/19/11 - NASDAQ delisted the stock.

7. DEER Short Position Price before Publication: $11.24 Recent price: $4.83 3/10/11 (Seeking Alpha first publication) Pointed out numerous problems with the company including an overpriced land purchase that allowed management to divert

funds from the company. Note: Seeking Alpha re-published an updated version of this report on 3/17/11. 3/16/11 We published a follow up negative report. 3/18/11 We published a follow up negative report. 9/6/11 Published strong evidence based on a series of phone calls, emails and recordings to prove DEER likely committed fraud through land purchases in Wuhu where over $20 million in land purchase rebates went unaccounted. Urged US regulators to act.

8. CBEH Short Position Price before Publication: $3.76 Recent price: $0.78 3/28/11 Pointed out video surveillance and numerous other evidence the company was defrauding investors. 3/30/11 We published a follow up negative report. 3/31/11 - Chinese RTOs: What Can Investors Buy When Even Big Four Auditors Fail? Pointed out KPMGs failure to verify biodiesel production at CBEH. 4/5/11 Published article on Seeking Alpha noting that Alfredlittle.com began full cooperation with CBEHs independent investigators and auditor. 4/20/11 - NASDAQ halted CBEH stock upon the announcement of independent investigation of the audit committee of the Board of the Directors. 4/25/11 We published a follow up negative report. 4/27/11 - Independent director and audit committee chair Larry Goldman resigned, citing the obstruction of their investigation by CBEH's management had resulted in no possibility that the investigation could be conducted with independence and integrity, and result in a fair and comprehensive report. 5/2/11 CBEHs Auditor KPMG resigned and withdrew its previous 2010 audit opinion, stating the previous financials should no longer be relied upon. 5/3/11 We published a follow up negative report. 6/16/11 - NASDAQ delisted CBEH stock.

9. PUDA Short Position Price before Publication: $9.10

Recent price: $0.60 4/8/11 Pointed out the chairman secretly sold half the company to Chinese PE investors, pocketing the proceeds, and pledged the other half of the company as collateral for a secret $530 million high interest loan. 4/8/11 - NYSE Amex halted PUDA stock on the same day of the release of our initial report. Independent Board committee of PUDA started an investigation. 7/12/11 PUDA auditor resigned and declared previous financial statements should no longer be relied upon. 8/10/11 PUDA received notice of delisting from NYSE. 9/1/11 PUDA independent board committee released interim findings of its investigation that explicitly confirmed each of our allegations. 9/7/11 SEC notifies PUDA Chairman of its intent to file civil charges against him on allegations that he violated certain U.S. securities laws. 9/7/11 Follow up article commenting on SECs announcement of possible civil action against PUDA Chairman.

10. ADY Long Position (#1) Price before Publication: $7.30 Close out price: $9.23 (4/26/11) 4/14/11 Published a report detailing ADY as one of the three Chinese RTO stocks in a short term basket trade.

11. CFSG Long Position Price before Publication: $5.90 Close out price: $7.19 (4/26/11) 4/14/11 Published a report detailing CFSG as one of the three Chinese RTO stocks in a short term basket trade. 5/20/11 CFSG announced a $9 per share buyout offer for its stock from its management and Bain Capital.

12. HRBN Long Position Price before Publication: $18.60 Close out price: $18.62 (4/26/11)

4/14/11 Published a report detailing HRBN as one of the three Chinese RTO stocks in a short term basket trade.

13. SCEI Short Position Price before Publication: $2.81 Recent price: $1.29 4/28/11 Pointed out SCEI stock is likely worthless based on video surveillance of its idle production plant, official tax records and other evidence. 5/3/11 We published a follow up negative report. 5/4/11 We published a follow up negative report. 5/5/11 We published a follow up negative report. 5/9/11 We published a follow up negative report. 5/17/11 SCEI audit committee chairman Joseph Levinson resigned after spending less than 3 weeks on his job. 5/19/11 - We published a follow up negative report. 5/20/11 - We published a follow up negative report. 5/24/11 - We published a follow up negative report. 5/25/11 - We published a follow up negative report. 9/5/11 Independent director and audit committee member Brock Silvers resigned.

14. CTE Short Position Price before Publication: $4.02 Recent price: $2.35 (stock halted since 8/16/11) 8/16/11 Published a report with detailed evidence to show that CTE, its largest customers and suppliers are likely nothing more than empty shells with little or no sales or income. 8/16/11 NASDAQ halted CTE stock upon the release of our research findings and sent a demand for information to the company. 15. SVM Short Position Price before Publication: $7.84 Recent price: $6.97

9/9/11 British Columbia Securities Commission announced investigation into allegations against SVM 9/13/11 Pointed out SVMs questionable customers, geologists, production, quality and serious related party failures 9/13/11 Alfredlittle.com offered to share evidence and fully cooperate with the BCSC investigation 9/19/11 Pointed out evidence showing SVMs earnings are inflated at least 5X

Alfredlittle.com Publications Pending Outcome

1. HOGS Short Position Price before Publication: $8.39 Recent price: $9.33 8/18/11 Pointed out HOGS phony sales booked at the defunct, undisclosed Shanghai subsidiary as well as its questionable retail segment revenue. 2. ADY Long Position (#2) Price before Publication: $6.48 Recent price: $5.37 8/19/11 Published a detailed report analyzing ADY as an attractive long trade o a stand-alone basis.

3. HRBN Short Position Price before Publication: $17.44 Recent price: $20.78 9/6/11 Published detailed evidence based on a series of phone recordings to prove HRBN committed fraud through a phony, non-existent land purchase, as well as likely misappropriation of $23 million investor funds. Urged US regulators to act.

4. SCOK Short Position Price before Publication: $3.51 Recent price: $3.51

9/20/11 Pointed out SCOKs failed coalmine consolidation and questionable financials

Cumulative Publication Performance:

15 Successes Zero Failures 4 Pending Outcome