NVFY - Strong Sell: Nova LifeStyle - Evidence Of Fictitious Sales
Brief Summary
On November 21, 2018 we published detailed analysis on Nova LifeStyle (NASDAQ: NVFY) that concluded with the following note:
If we can absolutely rely on the Company's accounting, then NVFY is a definite buy and an especially good addition to a Graham-like net-net basket.
But since we have some reservations about a few factors, especially with regards to the auditors of Nova Lifestyle, we feel it is prudent to be more careful in our recommendation. Therefore, given the currently available information and provided we don't discover evidence of any irregularities, we cautiously