Notes from conference call.. Genesis Pharmaceutical Enterprises, Inc. (GTEC)
somebody brought up a issue regarding a company or stock called Green powers, which Elsa, CFO is not familiar with.. upon scanning the SEC files, there's absolutely nothing in them regarding any green anything.. Accordingly, this person said, it is a over two year old issue.. Item is not Genesis Pharmaceutical Enterprises, Inc. business nor concern.. Seems to be a past issue with old company..
The participants were all very pleased with GTEC's progress and income.. However, all requested more communication from the company to shareholders and public, including increased exposure.. The CFO and IR both stated this quarter the company will be increasing their focus on the current shares holders interests and increasing communication.. , while the company is always looking for increased shareholder support, it was said that it has plans to increase current shareholders support throughout the summer.. ..
Itemized O/S is to be released,
Highlights included,
the acquiring of a large parcel of land next to the plant, as expansion and growth is increasing rapidly. The land was a one time expence..
One drug is approved and awaiting production release from the china SSBA..(china's version of the FDA). there's a reorganization going on within the SSBA and has/is causing some delay..
However, this single drug is of the four we've been waiting to be released. is on the edge of becoming a production item.. It's formula has passed all tests and requirements, waiting for the SSBA to catch up.. .
The company is very anxious to get this drug to the market, and will PR eagerly once it's ready to go.. while it has passed all required test, the company takes a Conservative approach and although shareholders would have liked to be informed on it's progress, company does not want to underestimate it and will share it's release once it is completely ready for production..
The BOD is still undecided about conducting a R/S, and looking into up-listing for the time being.
Acquiring further equity financing is on hold as well the company; "is not committed to looking for the previous announced 30 mil, in equity financing" ..
The company is far more interested in revenues and income then pumping this stock like many pinks and BB's do.. It is proud of the increased growth, revinues and expects shareholders to concentrate on it's massive growth and Superior income levels verses hype too...
this items were reiterated three times.
Third Quarter 2008 Highlights:
-- Revenue totaled $28.1 million, up 48.5% year-over-year
-- Gross profit totaled $21.8 million, up 60.7% year-over-year
-- Gross margin was 77.4%, compared to 71.5% a year ago
-- Net income rose to $4.5 million, up 138.46% from the quarter ended
March 31, 2007, $0.01 per basic and diluted share
-- Engaged Moore Stephens Wurth Frazer & Torbet, LLP as independent
auditor
Corn-fused-us Long-vestor ancient saying: Patience and small movements keep a steady course.
I don't have a humble opinion!
At's ma boy!
