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I agree with the short covering,(I didn't want to bring up the rs!) however I just wish they were not going so steep with the R/S, 1 for 39 shares is brutal, with no real info such as audited American dollar #s for 2006? and a stable proven business(Only 2005 and then a partial 2006, and they have IOU's from another business for their crops from this year since their business got halted by the Government for restructuring I think?). The stoppage on the business this year plus the fact that they are field farming which is not a reliable way of making money, makes me very nervous. I hope the price holds, but I wont be buying any more until the smoke clears after the r/s.
ham
ham, with the R/S coming it looked to me like some covering. I watched the bid and they were fighting over the best lowest bid. They made their trades and the volume brought others here IMO.
There is not much stock available to trade right now. I have it figured that about 12 million shares are in the float. None of the shares from the reverse merger are eligible to trade, all restricted at the moment.
I have had some recent success with Reverse splits as of late. Look at GBRC, I bought at about .021 then the reversed. my 100K became 1000 shares. I sold at 3.75, then it fell back to 1.40 and is now at 3.30 again.
While I am no fan of R/S, done correctly it appears money can be made. When I bought this, it was because of speculation of a reverse merger. I also believed they would do a R/S which they are. I suppose if this runs up .05 or .06 cents before the reverse, I may sell some but I will hold some shares going into this.
Currently I hold INRA just coming off their reverse. Price was .019 before reverse, company did 1-10. Price is now .20 and the funding they have lined up is fixed at .40 plus. I have a pretty sure double anyway based on the info in the 10Q.
The market has been crappy for to long. It is nice to make some coin on programs usually considered death nails.
Best to you,
weo
Funny how much the price swings, Why would anyone sell at .011? the high was .027? thats a huge swing in price. on 1.4 million volume. makes me think the MM's are just playing around. Still watching for now.
I am with you. Don't know what's happening but it sure is interesting LOL
I grabbed a few...lol. eom
Two days in a row of significant buying. Somebody thinks this is a good buy.
Some pretty nice buying today. MM's look like they don't want to move this up, LOL. Hope it continues.
No, I almost started to buy, but realized we are at the end of the year and people are still selling off stock. I really don't have a good plan for this because I'm getting mixed feelings about rushing in to buy. This is not a done deal and they are investing in farming(!?). Its not exactly what I had hoped they would get involved with, I would have preferred some sort of tech business for sure. this is why I think this will be a loooong term investment, so I feel time is on my side.
Did you get your shares? eom
after reading, (finally) the merger details, they may need financing after all. If there plans to quadruple their current land holdings materialize, they will possibly need some money for that and production. That will take some time to see profits, but their margins make it worthwhile. I'm going to buy more but this is going to be a long shot for the long haul,
imho.
well we went lower...im waiting to get more of this and some other stocks at the new year. There is always usually a sale on around Christmas.lol
ham, I agree. It sure looks like someone wants this lower but is taking their sweet time getting there. The more we churn at this range, the less likely we will go much lower.
JMO
That sounds exactly like my story, so we watch and wait some more. If I get another chance with the share price being what I consider more favorable, I will get more shares. If the price goes up or down, I win.
ham
ham, I don't know much either other than the share structure is very favorable at the moment. I bought into this company in the spring for two reasons, low float and the company had a new product it was going to launch in the fall. When the company sold off its debt, I bought more based on the upcoming reverse merger. Now that it has taken place and it's a China based company, I couldn't be more happy. I don't know where this goes but if they release any news or promote this company at all, this stock could really take off.
JMO
I cant wait for news either, but if its anything like it was before when this was Ultradata, they let their 10k's do their talking. I'm going to sit back and 'have a Snickers bar' because I don't expect to hear anything for quite some time. The only chance is that new management will push this, but I really don't see why they have much reason to right now. If what they say is true about the financials, they don't have a reason to need funding for anything? Did they do this merger to have a U.S. $ based stock base rather than a China $ based stock, or am I reading into this wrong? I have zero experience with this type of merger, so any insight to this deal would be appreciated from anyone. I would hope they would have a website in English up and running soon, that would help immeasurably.
I could be wrong but there is no reason for this to fall back to .018. I think we have just about bottomed out and are due the next leg up. If they release any news say goodbye to the .04 cent range.
Just my opinion
If your looking for a bunch of PR's to pump up this stock, your probably not going to get it from this management. Hopefully the new company will get some pr's rolling, but after I can get some more of this stock around .018...
L(.)(.)King & DDing
.0XX < EDIT Would Be Nice Hmmmmmmmmmm !
Not In.
Later, The Team.
I sold everything. Day 1 of the increase I sold half of my position and I was riding free shares. Sold the rest at 0.036. Little bit disappointed with the way they communicate. I'll watch it go to around 0.015-0.02 and step in again.
One big highlight is management owns 92% of the stock. I don't know how it can get any better than that.
JMO
FWIW, at present there are only 50 million shares authorized of which 17.5 million or so was outstanding prior to this agreement. An additional 27.5 million plus shares were issued to the shareholders of COHD corporation making 45 million plus issued and outstanding. At present, neither the 27.5 million or the 234,000 class D preferred shares are registered nor can they be traded. Today the float is still around 12 million per the latest 10Q and the 8k filed on Monday Nov. 13th.
Since the shares were issued to mostly management, I highly doubt they will sell anything at this point. The first thing they must do is get approval from shareholders to increase the authorized. That shouldn't be a problem since they own 92% of the shares. Once that passes, they could convert their shares if they wanted but I haven't seen any direct management sell shares. I do believe they will increase the authorized shortly. What I don't understand is why they just didn't do this right now?
The 8K has some interesting information in it such as the right to redeem the Class D preferred shares at any time after Aug 1st 2007. at which time if any shares are redeemed they would be reduced from the outstanding.
When I read stuff like this I wonder why they put this information in here if they have no intentions of doing this.
I believe this stock is terribly undrvalued here and expect to see some significant increase shortly.
JMO
weo
Haven't jumped in yet. Watching on the sidelines.
Still here and don't plan on selling anytime soon. Let the MM's play their games.
Nope, bailed today. Take over a company, and then make no announcement as to plans or directions, to help guide shareholders?
I chose to sit on the sidelines for now.......down a couple of hundred, but better than losing it all.
Guys, still holding? good luck....
MM SBSH has been trying to put this down for two days and lack of volume is winning. This is ridiculously undervalued with what is currently happening.
Lately I have seen SBSH selling everything down. It makes me wonder how these guys can legally do this.
JMO
As good a reason as any........time will tell
My guess is that they will promote to the 20,000 distributors they have before doing a public awareness program. What better way then to promote the stock then to the people who believe in the product. IMO
Pretty surprised to see not a word from the company, other than an 8K.......if folks are concerned over a potential P&D, the company so far is acting just the opposite........ why go public if you're not going to publicize?
Need some news from the company to give this thing a boost. Big board plays are required to give mid-quarter guidance, so as not to "surprise" shareholders when 10Q's are filed. Too bad that's not a requirement in pennyland.
Taking the 3qtr numbers from the 8K:
$2.2M in revenues through first nine months, annualizes to a $2.9M year, or 14% year on year growth (nice!)
Net profits of $820K through nine months annualizes to nearly $1.1M, or a 29% year on year improvement! (very nice!)
Also, at $1.1M net profit projection for the year, and 50M shares outstanding, thats an EPS of nearly $0.022 - using a common P/E ratio of 10-15x, that equates to a justifiable pps of $0.22 to $0.33 - seems like we have a bargain on our hands at the moment.........fingers crossed....... JMHO
Chevy, I agree. Nice to see some volume today and some share price appreciation.
Thanks for the info as it will help many new investors with taking a position here.
Best to you,
weo
The 8K basically makes it a done deal, as I believe the text itself stipulates the share exchange occurred Monday, Nov 13. What's holding the stock back right now, IMO, is that some brokerages, like Scottrade, are restricting online buys. Concerns over "potential manipulation". The only manipulation I can see is that the brokers got caught by surprise on the RM and weren't ready for it........
Starting to move today, so perhaps the restrictions are now lifted.
Check the numbers some of us have posted from the 8K. These are cheap shares right now, IMO.......
Based on the 8K, I would think this is a done deal. Hopefully we will hear closure of this soon and move from here.
JMO
Thanks to all for posting your DD on China Organic Health Products, as I could not find much about it. I bought this stock a while ago, looks like it will do well.
LOOOKS LIKE BOOK VALUE IS 12.1 cents per share
Preferred shares are voting shares
UDTA only has 59 million shares auth. cannot issue any more shares unless the author. shares are increased
Stockholders’ Equity
d.
Common Stock
The Company has authorized, issued, and outstanding share capital of 50 millions shares of common stock at $0.121 per share as of June 30, 2006 and September 30, 2005. During nine months ended June 30, 2005, the Company issued an additional 49,850,000 shares of its common stock to a group of investors in exchange for 21,601 tons of food grants at an aggregated value of $6,173,725. The fair value of the crops was determined by reference to the market price of the goods at the date of the contribution and certified by the local appraiser
that's why i'm here, too, 53chevy! good luck to you!
From the 8K:
"Upon completion of the Share Exchange, there were 45,034,840 shares of Ultradata common stock issued and outstanding. In addition, there were three series of Ultradata convertible preferred stock issued and outstanding, which can be converted into 539,959,296 common shares, yielding a total outstanding on a fully-diluted basis of 584,994,136 shares."
From the 8K, the preferred share count is 5M, convertible to the 540M illustrated above. (Series B, C & D, the bulk of which resides with the new company)
"Ultradata is authorized to issue 50,000,000 shares of Common Stock, $.01 par value per share, of which 45,034,840 shares are outstanding."
Of the total, 260M (44.5%)are owned by the officers and directors of the company, but according to the 8K, the company reserves the right of redemption:
"Section 5. Redemption. At any time after August 31, 2007, the Corporation shall be entitled to redeem the shares of Series D Convertible Preferred Stock by giving written notice to the registered holders thereof not less than 15 nor more than 60 days prior to the redemption date."
What I cannot decipher from the 8K are the restrictions on when the officers can convert preferred to common. Typically, there is a 2yr restriction, but I cannot find such clarification in the 8K.
From what I can make out from the 8K, the float at this time appears to be 17.5M shares...
"(G) There shall be issued and outstanding 17,548,665 shares of Ultradata common stock"
But I'm not sure of the correlation, JMHO
Brikk, I agree with your perception. The more I read of the 8K, the more encouraged I became.
This stock had little visibility until today, so we bought in at an early stage. As word spreads of a profitable peeny play, with upward opprtunity, more players will join, appying upward pressure on the pps.
Despite some of the brokerage manipulations today, this should see a sweet rise in the coming days, and a very bountiful return for those of us in early.
i'm simply asking you to clarify your statement. if you can't then... thanks for sharing your DD. ;)
I've done my DD...Their site is in Chinese...and I'm not planning to touch it....Please do your own DD and make decision based on your own DD.
1. when are the shares convertible?
and
2. what was the revenue number stated on the website...
and
3. whose website are you talking about?
tia.
Two things I don't like their filing:
1) Ultradata issued to the shareholders of China Organic (a) 27,486,175 shares of common stock and (b) Series D Preferred Stock, which is convertible into 469,760,000 shares of common stock.
With 469M shares that can are convertible, this can be diluted to hell...I originally thought they only have 17M shares
2) Their revenue is a lot less than what(which was around $5M) they stated in their website....pretty fishy to me
did anyone notice it says their business growth in 2006 came to a halt after the first quarter? it was due to rebuilding their distribution network to comply with government regulations. now that that hurdle is behind them, i'd say we can multiply existing gross 06 earnings by 4, AT LEAST.
i think it's reasonable to assume 2007 revenues will exceed $9M... who wants to do the math on the O/S and calculate us a pps??
are we talking nearly .18 in revenues/share? gross margins are ~50% on the foods sold, higher for the cosmetics and supplements.
these are all wild guesses, because i don't know the share structure yet, but could it be this is a .90 stock at a 10 P/E..?
more conservatively let's calculate it using the profits from Q1 x 4...
$ 3,281,672/50M = .066/share x 10 multiple... .66/share
_________
First 9 Months of Fiscal 2006
Total
Revenue
$2,194,224
Net profit
$820,418
and there's more:
_____________
Liquidity and Capital Resources
At June 30, 2006 we had working capital of $7,701,604 and no long-term liabilities. Accordingly, we have sufficient capital resources to fund our business for the foreseeable future.
that filing is great. here is another key element of their success:
_____________
The relatively high level of profitability that we experienced in our first seven months of operations was attributable to two essential characteristics of our business model:
·
There are thousand of individuals involved in selling our products – but we employ only 16 of them. The remainder are owners or employees of the companies that distribute for us. As a result, in the year ended September 30, 2005 we realized $2.5 million in revenue with only $84,709 in selling expense.
·
Our manufacturing activity is completely outsourced to enterprises dedicated to organic agricultural manufacturing. As a result, during the year ended September 30, 2005 our general and administrative expense equaled only approximately 4% of our revenue. In that year our depreciation expense – often a major factor in agribusiness operations – was only $2,315, since we own no manufacturing equipment.
Great news! Growing revenues, NET profitability!
Yep, good looking day. Love to see another day of 4 million plus volume. That will get this thing going.
JMO
tosssssserrrrsss ! we'll get them after all
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