North China Horticulture, Inc. - IDCX.OB
(iBox Updated 8/8/11 by BeachCracker)
LongSheng Village, Tangshan Town, Zhengan District
Dandong City, Liaoning, P.R.China
The following industry information has been obtained from various market research reports and publicly available sources. We believe this information to be current and reliable. However, we have not independently verified such information, and you should not unduly rely upon it.
Blueberries are flowering plants of the genus Vaccinium. Blueberries are either consumed fresh, frozen or processed into food products. China has historically not been a major producer or consumer of blueberries. In recent years, Chinese farmers have begun to cultivate blueberries in earnest due to the high price that can be commanded in the market. Research demonstrating the health benefits associated with blueberry consumption has been followed by increasing global demand and production.
In the U.S. market, the two largest uses for blueberries are baked goods and non-alcoholic beverages. The following table provides a breakdown of U.S. blueberry processing usage:
Our products consist of blueberry seedlings of sizes ranging from 2 inches to 8 inches tall. We sell a variety of blueberry seedlings, including the following varietals: Vaccinium, V. ugilinosum and V. vitis-idaea. The images below show the cultivation of blueberry seedlings in our greenhouse facilities.
Our Corporate Structure
All of our business operations are conducted through our Hong Kong and Chinese subsidiaries and controlled affiliate. The chart below presents our corporate structure:
Latest 8-K Filing - July 1, 2011:
"On June 23, 2011, North China Horticulture, Inc. (the "Company") entered into a Leasing Agreement (the "Agreement") with the Youhao Forestry Bureau, Heilongjiang Province (the "Bureau"). Pursuant to the Agreement, the Company will lease 59 acres of blueberry fields from the Bureau. The lease will expire on June 30, 2061 and the cost of the lease is $613,000 payable within three days of the date of the lease."
Over $8,000,000.00 in Assets:
Over $4,500,000.00 in Gross Profit Reported:
We have a sales staff dedicated to generating sales as well as attending sales fairs and trade shows. Our sales staff is compensated on a salary plus commission basis. Our customers often seek us out directly as we are well known in the industry as a high quality provider of blueberry seedlings. Customers are responsible for all costs associated with product pickup and transport arrangements. In 2008, we sold all of our products to a related party, Yichun Lindu Shanyeguo Development Company, but we have since made efforts to diversify our sales channels. In 2010, our top six customers accounted for 78% of our total sales. The table below details our top customers in 2010:
Nanjing Forestry University Science and technology Development Co., Ltd
1,163,375 17 %
Qingan County Qingan Town Ji'an Committee
1,173,357 17 %
Qingan County Qinlao Town Qinpu Committee
912,006 13 %
Qingan County Qinlao Town Qinlao Committee
733,832 11 %
Qingan County Qinlao Town Qinfa Committee
715,539 10 %
Qingan County Qinlao Town Qinfu Committee
695,726 10 %
The principal raw material used in our production is the blueberry seedlings, but our raw materials also include the supplementary materials applied to facilitate seedling growth such as fertilizer. The majority of our raw materials are purchased in our local area. The table below details our major raw material suppliers in 2010:
Dandong Beilin Trading Co., Ltd
1,214,208 59 %
Dandong Shengyuan Agricultural Co., Ltd
435,613 21 %
Changchun Senyuan Fertilizer Co. ,Ltd
191,839 9 %
1,841,660 89 %
We currently employ a staff of approximately 208 employees. We believe we are in material compliance with all applicable labor and safety laws and regulations in the PRC, including the PRC Labor Contract Law, the PRC Unemployment Insurance Law, the PRC Provisional Insurance Measures for Maternity of Employees, PRC Interim Provisions on Registration of Social Insurance, PRC Interim Regulation on the Collection and Payment of Social Insurance Premiums and other related regulations, rules and provisions issued by the relevant governmental authorities for our operations in the PRC. According to the PRC Labor Contract Law, we are required to enter into labor contracts with our employees and to pay them no less than the local minimum wage.
The last filing shows 50M OS and 1.1M Float->>>
As of March 31, 2011, the registrant had 50,000,139 shares of common stock outstanding.
OS = 50,000,139
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Potential Bounce Underway: