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This is the end of old GTEC.....another otcbb scam.
I'll Try-But it does not look like I can..
Awesome, How can I get in on this??
Once revoked by SEC.....pretty sure that's it. Worthless stock. If they ever do come back...would be with NEW stock.
The many years of violations and the fact that Jiangbo Pharmaceuticals chose to ignore
the allegations in the OIP, which the Commission spent a great deal of time and effort in serving,
demonstrate that it is necessary and appropriate for the protection of investors to revoke the registration of each class of its
registered securities
http://www.sec.gov/litigation/admin/2013/34-69924.pdf
Is there a possibility that this shell will live on?
Still a very bad taste in my mouth because that things can happen like they happened with Jiangbo, appearently there is no organisation like SEC or Nasdaq or whatever that protects invdestors from these scams. Very big shame...
Apparently nobody cares
Two hundreds days passed now since your post! JGBO is still live for trading. Why did you post the misleading information here? The
new 52-week low 0.0102 just hit today anyway!
JGBO @ .13 HITS UP!!
Hedgebunny, Do you can`t buying @ .01!! = trying bidding @ .07+!!
NSS IT? Looking for CHEAPER MAYBE???
**** Can get this one maybe to .01 or lower maybe???? lol lol lol...
Well, have you gamblers hit pay dirt in this under valued/undiscovered gem yet?
HA HA HA.
How did you know? It closed at 0.13 today anyway!
100 days or so until the stock is revoked and stops trading altogether.
0.07 x 0.13 now from the level2. It was up 85.45% yesterday!
Yesterday JGBO @ .13 up! = .07 x .40 from TD ameritrade = Nice!!
What took the SEC so long? This scam hasn't exactly been a secret and nobody involved has even denied the accusations.
JGBO: SEC Admin Proceeding:
http://www.sec.gov/litigation/admin/2012/34-67833.pdf
The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors that public administrative proceedings be, and hereby are, instituted pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”) against Respondent Jiangbo Pharmaceuticals, Inc. (“Jiangbo” or the “Company”).
After an investigation, the Division of Enforcement alleges that:
A. Jiangbo is a Florida corporation headquartered in Laiyang, China. Jiangbo is engaged in the business of researching, developing, manufacturing, marketing, and selling pharmaceutical products and health supplements in China. Under the stock symbol “JGBO,” the Company began trading on the OTCBB on May 12, 2009 and on the NASDAQ on June 8, 2010. On May 31, 2011, NASDAQ halted trading in Jiangbo’s common stock, and it delisted the Company’s securities on October 17, 2011. Jiangbo’s securities have been registered with the Commission pursuant to Section 12(g) of the Exchange Act.
B. Section 13(a) of the Exchange Act and the rules promulgated thereunder require issuers of securities registered pursuant to Section 12 of the Exchange Act to file current and accurate information in periodic reports with the Commission. Exchange Act Rule 13a-1 requires issuers to file annual reports, and Rule 13a-13 requires issuers to file quarterly reports.
C. Jiangbo is delinquent in its periodic filings with the Commission.
D. Jiangbo has failed to file its requisite periodic reports for its fiscal year ended June 30, 2011, its fiscal quarter ended September 30, 2011, its fiscal quarter ended December 31, 2011, and its fiscal quarter ended March 31, 2012.
E. As a result of the foregoing, Jiangbo has failed to comply with Section 13(a) of the Exchange Act and Rules 13a-1 and 13a-13 thereunder.
In view of the allegations made by the Division of Enforcement, the Commission deems it necessary and appropriate for the protection of investors that public administrative proceedings be instituted to determine:
A. Whether the allegations contained in Section II hereof are true and, in connection therewith, to afford the Respondent an opportunity to establish any defenses to such allegations; and
B. Whether it is necessary and appropriate for the protection of investors to suspend for a period not exceeding twelve months, or to revoke the registration of each class of securities, registered pursuant to Section 12 of the Exchange Act, of the Respondent identified in Section II hereof, and any successor under Exchange Act Rules 12b-2 and 12g-3 or new corporate name of the Respondent.
IT IS HEREBY ORDERED that a public hearing for the purpose of taking evidence on the questions set forth in Section III hereof shall be convened at a time and place to be fixed, and before an Administrative Law Judge to be designated by further order as provided by Rule 110 of the Commission’s Rules of Practice [17 C.F.R. § 201.110].
IT IS HEREBY FURTHER ORDERED that Respondent shall file an Answer to the allegations contained in this Order within twenty (20) days after service of this Order, as provided by Rule 220(b) of the Commission’s Rules of Practice [17 C.F.R. § 201.220(b)].
If Respondent fails to file the directed Answer, or fails to appear at a hearing after being duly notified, the Respondent may be deemed in default and the proceedings may be determined against it upon consideration of this Order, the allegations of which may be deemed to be true as provided by Rules 155(a), 220(f), 221(f), and 310 of the Commission’s Rules of Practice [17 C.F.R. §§ 201.155(a), 201.220(f), 201.221(f), and 201.310].
This Order shall be served forthwith upon Respondent personally or by certified, registered, or Express Mail, or by other means permitted by the Commission Rules of Practice.
IT IS HEREBY FURTHER ORDERED that the Administrative Law Judge shall issue an initial decision no later than 120 days from the date of service of this Order, pursuant to Rule 360(a)(2) of the Commission’s Rules of Practice [17 C.F.R. § 201.360(a)(2)].
In the absence of an appropriate waiver, no officer or employee of the Commission engaged in the performance of investigative or prosecuting functions in this or any factually related proceeding will be permitted to participate or advise in the decision of this matter, except as witness or counsel in proceedings held pursuant to notice. Since this proceeding is not “rule making” within the meaning of Section 551 of the Administrative Procedure Act, it is not deemed subject to the provisions of Section 553 delaying the effective date of any final Commission action.
By the Commission.
Elizabeth M. Murphy
Secretary
Yes. It was 77.8% up yesterday after hitting the new low 0.0612! The 52-week range is 0.0612 ~ 0.25 now.
JGBO @ .16 HITS UP! = Very nice up!!
go JGBO!!
What was that? A 100 share order to drive it from 7 cents to 16 cents. This is setting up badly. 5 cents coming soon
The 52-week price range is 0.0612 ~ 0.26 now. Bottomed out today?
It is up 77.78% now! Huge bouncing (161.44%) today! You should buy!!
New 52-week low 0.0612 was created today! Anyway the bid is up 14.4%
at 0.07 now!
Great, MY! It is up 44.7% today! GN!
JGBO @ .09 HITS UP!! = GN VI!!
If you guys buy the shares at the ask then the volume will kick in!
Bouncing? The volume is zero!!!
No. It is bouncing now. The bid is up from the previous 0.0612! 0.09
will be hit very soon due to extremely oversold and undervalued now!
Next stop...1 cent
The good news is: IHUB has finally fixed JGBO quotation page issues!
Yes. The MM never filled my bidding order!
Do u trying bid!!
Yes. JGBO is very cheap now! I tried to add more shares and no fills yet...
JGBO @ .0622 hits down now = go JGBO cheap!!
GN, MF! Someone just dumped 500 shares at the 52-week low .081 right after the market close!
still holding!!
P.s. Tomorrow I willl go to work. GN VI!
Someone dropped the ask to 0.082. Then 900 shares was slapped at ask
and now it is 0.081 x 0.095 anyway!
The big institution Pope Investments might make another big purchase
which should drive the price up! Hopefully Pope will slap the asks!!
Yes, Lol!! = plenty time!!
I thought you were buying up all of the 10 cent shares? What are you waiting for?
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Outstanding Shares: 13,692,179 shares.
Floating Shares: 7,370,000 Shares.
Shorting Shares: 110,181 Shares On 04/30/2012.
Insiders Ownership: 40.91%.
Institution Ownership: 3,247,785 shares or 23.72%.
(Pope alone owns 2,234,088 shares or 16.32% of OS)
Shareholder's Equity: $184,707,495.
Book Value: $13.49 Per Share.
Total Cash: $146,930,000.
Cash Value: $10.73 Per Share.
Revenue: $98,510,000.
Revenue Per Share: $7.88.
Gross Profit: $71,350,000.
Diluted EPS: $2.56.
Operating Cash Flow: $47,780,000.
Leveled Free Cash Flow: $24,310,000.
52-Week Range Before Halt: $3.01 ~ $10.98.
52-Week Range After Halt: $0.0811 ~ $0.8.
Middle Section, Longmao Street Area A Laiyang Waixiangxing Industrial Park Laiyang City, Yantai, 265200 China | |
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Jiangbo Pharmaceuticals, Inc. engages in research, development, production, marketing and sales of pharmaceutical products in People's Republic of China ("PRC") through its operating subsidiary, Laiyang Jiangbo Pharmaceuticals Co., Ltd. ("Laiyang Jiangbo"). Jiangbo purchases patents for drugs or develops sophisticated drugs through collaboration with leading research institutions. The Company is well positioned to benefit from rapidly growing pharmaceutical market in China by its well known brand, experienced management, skilled workforce and extensive distribution network.The company is located in Northeast China in an Economic Development Zone, Laiyang City ,Shandong Province.
Jiangbo has 470 full time sales representatives and 620 part time representatives located in all major commerce areas across China. The company has numerous GMP (Chinese State Drug Administration or the SDA) approved manufacturing facilities and production lines,to produce various forms of Traditional Chinese Medicines and Western Medicines. The Company has a production capacity of 6 billion tablets, 70 million boxes of granules and 50 million boxes of capsules. 12 million bottles of Syrup and 8 million bottles of electuary. The acquisition of Hongrui in January 2009 increased Jiangbo' product portfolio from 6 to 28 products. The Company's best selling products include Clarithromycin sustained-release tablets, Itopride Hydrochloride granules, Baobaole Chewable Tablets, Radix Isatidis Dispersible Tablets. Currently Jiangbo has three new products in the pipeline awaiting final SFDA approval.
English
http://www.jiangbopharma.com/
Chinese
http://www.jiangbo.cn/
Chinese (Translated...use the linkbottoms on the bottom , they work) :
http://translate.google.de/translate?js=y&prev=_t&hl=de&ie=UTF-8&layout=1&eotf=1&u=http%3A%2F%2Fwww.jiangbo.cn&sl=zh-CN&tl=en
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