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AgFeed Industries Inc. (fka FEEDQ)

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Last Post: 12/8/2014 9:06:22 PM - Followers: 55 - Board type: Free - Posts Today: 0
Trading Reinstated for FEED Agfeed Industries Inc. Febuary 2012

Accounting irregularities on the chinese part of this company has caused it to be halted in december 2012.
Most of those are related to the legacy chinese farms(the old-style chinese farms)
Although there  might still be sizeable value in the company, the company still chooces to delist and workt things out from there.

"The Company's first sales of feeder pigs to third parties from Phase I of its Western-style hog farm in Guangxi province commenced in November 2011"

This is from the PR in which they announce their desire to voluntarily delist:





Agfeed  (FEED )- Hog meat business with both USA and China operations.

Run by US management after Chinese management was removed.
2011 forecasted revenue 320 mln

Overall:
-Alltime high prices for hog meat in china 2H 2011
-Chinese pork consumption still rising very fast, biggest pork market in the world allready
-Very strong sector outlook by big companies in this sector like Smithfield (SFD) , also SFD sees insider buys Q3 2011.
Company specific:
-New western style hog plants in china populated in Q1 2011, expected to yield from Q1 2012 onwards
-USA vertical integrated planned with meat processors Kansas Saucage and Pine ridge, mostly intended for chinese exports.


Recent events:
Mid 2010: Chinese company merged with US based M2P2 hog production expertise company
In the past very rapid growth but no corresponding profitability
Q4 2010 : old chinese management was fired and restructuring including chinese layoffs started
Q1 2011 : New american management appointed, including some top ex mcdonalds managers (meat industry background)
-Q1-Q3 2011 Writeoffs in book value for some 2007 and 2008 acquisitions which were overpayed for by old management
-Q1-Q3-2011 Writeoffs in accounts receivable for some the 2007-2008 farms and part of the chinese nutritional operations.
-Q1-Q2 2011 Some 80-85% of those allready written off on book value

July 2011:  Company CEO Stadler presented outlook for 2011 and 2012. Projected 2012 Revenue > 700 million US dollar.
(as they also filed with the SEC, be sure to see the last slide on revenue projections)
http://www.sec.gov/Archives/edgar/data/1331427/000114420411040991/v228787_ex99-1.htm

Q4 2011: Intended vertical integration in the US: As communicated by the company in summer 2011:
"The Company also announces that it has entered into separate non-binding letters of intent to acquire Pine Ridge
Farms, LLC ("PRF") and Kansas City Sausage Company, LLC ("KCS"). It is expected that the combined businesses will
add over $180 million of annualized revenue and over $13 million of EBITDA to the Company's results.
" ( http://finance.yahoo.com/news/AgFeed-Industries-Inc-prnews-2175526133.html?x=0&.v=1)
Sept 2011 : Company announced Kansas City CEO to join the board of directors of Agfeed.
Before closing of the transaction there will be a final check and clean up of the chinese accounting books.
Deadline for the exclusivity letter of intent set at december 1st.
(this did not go through due to the chinese accounting irregularities)

Sept 2011: Agfeed reaches agreement with Iowa state to allow it to pursue vertical integrated company.
http://www.state.ia.us/government/ag/latest_news/releases/sept_2011/AgFeed.html
Sept 2011 : 50k Insider at the market buy:
http://www.insidercow.com/history/company.jsp?company=feed

 
  

                                                                                                                                                                                                                                                                                                                                                                                                          

 

PostSubject
#2908   Don't know how to answer that one but SamLevi 12/08/14 09:06:22 PM
#2907   Glad to hear that, I did as well. SamLevi 12/08/14 09:05:53 PM
#2906   Sami. Received the paperwork and sent it in. Moneytree420 12/08/14 08:01:14 PM
#2905   Thanks. I was checking bigcharts, not Yahoo. beachboy3 12/08/14 04:24:21 AM
#2904   http://finance.yahoo.com/q;_ylt=Avj.Acw48NlayFs67wacuhveAohG;_ylu=X3oDMTBxdGVyNz SamLevi 12/08/14 02:33:35 AM
#2903   Hey Sam, I haven't followed FEED since I beachboy3 12/07/14 07:03:46 PM
#2902   Yes that is part of the class action SamLevi 11/18/14 01:08:44 PM
#2901   Yes, you do qualify and don't worry about SamLevi 11/18/14 01:07:56 PM
#2900   Sam ~ Help ! I did send back Indiana1 11/18/14 10:38:11 AM
#2899   Sam - I have been checking the yahoo Indiana1 11/18/14 10:24:11 AM
#2898   Because you sold your shares before August. You SamLevi 11/18/14 01:08:58 AM
#2897   sam this exchange has gone on a lot General Grievous 11/17/14 11:18:13 PM
#2896   Unfortunately, no. SamLevi 11/17/14 08:19:16 PM
#2895   Isn't my recognized loss .03 cents per share General Grievous 11/17/14 07:58:33 PM
#2894   The Recognized Loss is $0.00 per share so SamLevi 11/17/14 07:38:59 PM
#2893   My sell date is before August 1 and General Grievous 11/17/14 06:37:42 PM
#2892   You sold your shares before August 1st, 2011 SamLevi 11/16/14 01:05:11 AM
#2891   I'm confused.. U said I wasn't eligible.. Y General Grievous 11/15/14 10:42:04 PM
#2890   Not sure what the reason is, it might SamLevi 11/14/14 10:58:01 PM
#2889   Because I didnt hold into the halt right General Grievous 11/14/14 10:46:11 PM
#2888   You are not eligible unfortunately. SamLevi 11/14/14 10:39:53 PM
#2887   Thanks for the reply. So I guess General Grievous 11/14/14 09:52:21 PM
#2886   All shares purchased and sold on or before SamLevi 11/14/14 09:47:33 PM
#2885   Ok, i finally checked and it shows I General Grievous 11/14/14 09:30:26 PM
#2884   Paper work should be sent to you soon. SamLevi 11/10/14 01:38:59 AM
#2883   Glad to hear that! How many shares did SamLevi 11/10/14 01:38:42 AM
#2882   I got the paperwork in the mail too..I General Grievous 11/09/14 08:21:55 PM
#2881   Great news indeed. When should we see Moneytree420 11/04/14 10:40:56 PM
#2880   Excellent, SamLevi. I'm delighted for FEEDQ shareholders per Renee 10/20/14 06:26:10 PM
#2879   Have a new update for everyone: SamLevi 10/20/14 03:11:34 PM
#2878   Okay. So what can one expect to payupdeadbeat 10/02/14 02:17:43 PM
#2877   The calculation of the $18 million that the SamLevi 09/16/14 12:44:27 AM
#2876   SamLevi....I'm unsure how todays SEC release will impact Renee 09/15/14 10:57:15 PM
#2875   Refer to my most recent post on here! SamLevi 09/15/14 09:43:05 PM
#2874   Great news for those FEED shareholders! SamLevi 09/15/14 09:40:54 PM
#2873   goodnight mrs calabash wherever you are fwb 04/14/14 11:52:54 AM
#2872   I posted this way back in December. pray 04/11/14 04:11:00 PM
#2871   Thank you, will do! SamLevi 04/11/14 11:25:42 AM
#2870   Fingers crossed for you, SamLevi. I hope you Renee 04/11/14 11:24:44 AM
#2869   Final decision as of now is some time SamLevi 04/11/14 11:23:24 AM
#2868   Even though the stock registration was revoked you Renee 04/11/14 11:21:27 AM
#2867   I still owned a decent amount of shares SamLevi 04/11/14 11:05:31 AM
#2866   From the Admin Proceeding this morning it shows Renee 04/11/14 11:02:49 AM
#2865   The bankruptcy case is still in tact correct? SamLevi 04/11/14 10:54:31 AM
#2864   FEEDQ revoked registration: Renee 04/11/14 09:34:40 AM
#2863   Trying to flip it for a quick buck, pray 03/13/14 12:29:18 PM
#2862   not sure why people are still buying this one IPO$ 03/13/14 12:04:11 PM
#2861   It was to be shut down in January. pray 03/13/14 12:02:51 PM
#2860   http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370541102314#.Ux-hBvld wall_street61 03/11/14 07:49:20 PM
#2859   Acctg fraud listed on SEC web site - IPO$ 03/11/14 04:14:20 PM
PostSubject