Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Wednesday, May 17, 2006
Tutogen Double Message
Tutogen Medical (AMEX:TTG) reports that they will have to restate the last three years of financials as well as the last quarter. They found incorrect costing in intercompany transactions. Deloitte Touche was the auditor. The claim is that earnings were under-reported. At the same time they suspiciously report that Zimmer is looking at making an additional investment in Tutogen. Do you believe in accidents?