Material Weakness happened in 2007 and 2009.

This sentence is on Page 21 of 10K, 2009.

There can be no assurance that a material weakness will not arise in the future.
As a result, current and potential stockholders could lose confidence in our financial reporting,
which would harm our business and the trading price of our stock.

Will material weakness happen again?
Angela Chen has created 2 material weakness in PSEM and she is still in PSEM. This company is amazing. PSEM wants to collect 100 MW so Angela Chen can be kicked out.

Finance department has sky high turnover rate.
No one can last for longer than 1 year. Some even disappear within 1 week.

Cheap, Cheap, Very Cheap!