Forward split occurred on July 29th, 2008....50 to 1 ratio
Estimated Market Cap 25.87 million as of 01/20/2011 (By Quotemedia )
Share structure, O/S
117,587,608 as of 01/20/2011 (By Quotemedia) ......an increase of 17.6 million(Approx) from split for compensation for itellectual-propertys and services.
A/S = 2,500,000,000
Subsidary, Dongying BVI also manufactors pharmacuticals. Aquired in Sept. 2008.
After a distinguished 20-year medical career in the U.S. that saw him become the Principal Scientist at Bayer's Pharmaceutical Division Research Centre in New Haven, CT, Dr. Lequn Huang returned to his native China to become founding Chair of Dong Ying Pharmaceutical Co. Ltd. in 2004.
He proceeded to recruit R&D and management teams to accelerate the growth of Dong Ying into a premier developer and manufacturer of innovative pharmaceuticals for the Chinese domestic and international markets.
Headquarters and a 30,000 sq. meter SFDA GMP-certified production facilities are located in the Nantong Economic and Technology Development Zone, which qualifies Sinobiopharma for extensive tax benefits. R&D labs are located in Nanjing, a major R&D centre with several universities and research institutes. A nationwide distribution network enables Sinobiopharma to market its products in every major city in China.
Demand for Flagship product expected to increase. Cisatracurium Besylate (skeletal-muscle relaxant) produced
by SNBP, requires no refidgeration...unlike any of the other manufactors products.
Dr. Lee Huang, "The market has shown a strong need for our flagship product, KuTai-(cisatracurium b.)
and the sales increases from this product are expected to continue for the next 2 years."
Production of KuTai was temporarily halted to upgrade the equipment.
These upgrade were done to facilitate the expected increases in orders, and to provide economies of
scale. Production of cisatracurium besylate at the Dongying facility was uninterupted.
SNBP manufactoring site now able to meet demands for it's products in the forseeable future.
Current output could be doubled at anytime without the need for additional expenditures for new equiptment.
Financial highlights include:
2010 fiscal year
Total revenue increased 101% in 2010, to approximately $7.7 million-- compared to the $3.9 of the 2009 fiscal year ending May 31st.
Gross margin increased 142% from the prior year.
Net income increased $ 2.9 million. (As opposed to 2009's loss of $2.2 million while the manufactoring facility was expanded.)
Sales revenue increased to $1,902,376 for the six months ended November 30, 2008 from $583,748 in the corresponding period in 2007.
- Gross profit increased to $1,223,180 (64% of sales revenue) from $116,009 (20% of revenue).
- Increase in sales volume and the improvement in gross profit percentage are both due to growth in sales of Cisatracurium Besylate., a skeletal muscle relaxant. Sales of this product increased to $1,756,798 in the six months ended November 30, 2008 from $505,331 in the six months ended November 30, 2007.
- Operating expenses for the six months ended November 30, 2008 were $2,115,788, as compared to $366,833 for the six months ended November 30, 2007. The most significant category of expenses was stock-based compensation of $972,375 in the six months ended November 30, 2008 compared to $nil in the same period in 2007, as the Company granted stock options to various directors, management, employees and consultants upon completing the reverse acquisition and effectively taking the Dongying companies public.
The second most significant expense category is professional fees, which have increased to $290,109 form $30,036 in the same period of the previous year. The main reason for the increase is the reverse acquisition, which required a substantial amount of legal, accounting and audit work to bring the Chinese companies up to U.S. financial reporting standards and to advise on and document the legal agreements.
Link to Harbinger research, buy reccomendation stating company is undervalued for it's position.