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Thanks Citrati that looks like what I am seeing in my account.
Thanks for contacting the Co. Hope we have good news from them soon. This stock is driving me up the wall. Schwab keeps coming up with trades after the close that Yahoo and others don't see like a 50% drop well after the close yesterday. Others seeing this?
If it wasn't for past disappointments I would consider this to be fantastic news for GoldSands. As I understand it we have already proved there is gold in economical quantities so the potential negative is the time frame of option 1. The fact that they already have a team on site is encouraging.
Here is the URL for the Aug 2 update
http://www.goldsandsco.com/downloads/GoldSands-Press-Release-Aug-2-2012.pdf
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Fantasy Finance
XI'AN, China, May 24, 2012 /PRNewswire-Asia/ -- China Integrated Energy, Inc. (OTC Pink: CBEH) ("China Integrated Energy" or the "Company"), a leading non-state-owned integrated energy company in the People's Republic of China, today announced the completion of the thorough Independent Investigation conducted by the Audit Committee into allegations raised in reports published in early 2011. Although the specific findings and conclusions of the Committee, as advised by its legal and forensic accounting professionals, remain privileged, the Company announced that the Committee has informed it that the Committee is satisfied that the vast majority of the short sellers' claims were baseless. Based on its investigation, however, the Committee has made observations, primarily regarding strengthening internal controls, which the Company will actively pursue.
Beginning in March 2011, short sellers calling themselves Sinclair Upton and Alfred Little published claims that China Integrated had made misrepresentations or other alleged wrongdoing regarding (1) cash in the bank, (2) related party transactions allegedly benefitting the Company's Chairman and his family, (3) the Company's overall financial health, as demonstrated by differences between Chinese filings with the SAIC and US filings with the SEC, (4) certain accounting practices, (5) the value and ownership of gas stations owned or leased by the Company, (6) the Company's affiliations with educational and research institutions, (7) the Company's auditors, (8) whether the Company enjoyed certain tax exemptions, (9) the Company's licenses , (10) the VIE structure, (11) the Company's wholesale distribution network, and (12) the Company's production of biodiesel.
In May 2011, the Audit Committee engaged Shearman & Sterling LLP to lead the independent investigation into these allegations. Each of these allegations was thoroughly investigated. While some issues remain as to production at the Company's Tongchuan biodiesel facility, and while the investigation revealed the need to strengthen internal controls and take similar measures, the primary substance of all other allegations has been proven groundless. Sales of biodiesel accounted for approximately 17% of the Company's revenue in FY2010. The Committee applauded the Company for its full cooperation given throughout the investigation.
Speaking on behalf of the Company, its Chairman, Xincheng Gao, stated: "We are heartened, but not surprised, to hear the Audit Committee's conclusions. From the day the short sellers issued their attacks, we have consistently and vehemently denied them. Unfortunately, in this climate, people like the short sellers can say anything and then it is up to the Company to prove its innocence. While we are happy that we have been able to do so, the effort has cost the Company, and therefore its shareholders, a great deal. We are of course struck by the fact that the short sellers accused us of making false statements to benefit ourselves financially, when, in fact, that is precisely what the short sellers did. We will continue to defend ourselves and also continue to work with the Audit Committee to resolve any remaining issues regarding biodiesel production. We also appreciate that this thorough evaluative process inevitably and productively leads to useful recommendations, which will make our Company stronger and even more responsive to the interests of its shareholders."
About China Integrated Energy, Inc.
China Integrated Energy, Inc. is a leading non-state-owned integrated energy company in China engaged in three business segments: the production and sale of biodiesel, the wholesale distribution of finished oil and heavy oil products, and the operation of nine retail gas stations. The Company operates biodiesel production capacity within two plants located in Tongchuan, Shaanxi province, and one plant in Chongqing, China. The Company utilizes a distribution network covering 16 provinces and municipalities, established over the past 11 years, to distribute both heavy oil and finished oil, including gasoline, petro-diesel, and biodiesel. For additional information on the Company, please visit http://www.chinaintegratedenergy.com.
An online investor kit including a company presentation, news releases, price quotes, stock charts, and other valuable information for investors is available at http://www.chinaintegratedenergy.com. To subscribe to future releases via e-mail alert, visit http://www.chinaintegratedenergy.com/alerts
Safe harbor statement
This news release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. For example, statements about the future use of the proceeds are forward looking and subject to risks. China Integrated Energy, Inc., may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q, and 8-K in its annual report to shareholders, in news releases and other written materials and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under law.
For more information, please contact:
China Integrated Energy, Inc.
Roger Zheng
Investor Relations
Tel: +86-29-68592316
Email: zx@cbeh.net.cn
Web: www.chinaintegratedenergy.com
Christensen
Mr. Chen Yuanyuan (English and Chinese)
Mobile +86 139 2337 7882 in China
ychen@christensenir.com
Mr. Tom Myers (English)
Mobile +86 139 1141 3520 in Beijing
tmyers@christensenir.com
WESTMINSTER, Colo., May 14, 2012 (GLOBE NEWSWIRE) -- Arete Industries, Inc. (OTCQB:ARET.PK - News), announced today that it will publish its financial results for the first quarter of 2012 after the market's close on Tuesday, May 15, 2012. Due to a technical issue with the filing, the conference call and simultaneous webcast was rescheduled to begin on Wednesday, May 16, 2012 at 10:00 am EDT and last for one hour.
http://finance.yahoo.com/news/arete-industries-reschedules-conference-call-192801426.html
deepsea is still hanging on and hoping, remembering the days when it was proven that there was gold in them there swamps.
Dad (while things are slow) great picture of Bora Bora, I spent 4 months there on my boat in 1985 including more than a month anchored near the bright spot on the motu at 9 o;clock from the small cloud in the center of the picture. No hotels there then and, although I have walked many reefs at night admiring the wild life, that is the one I remember best.Teaming with life and just spectacular.
4fatcat4 did you get the impression listening to the FOX segment,as I did, that the MIT spider silk researcher did not know about KBLB? Is that possible?
FOX news just did a segment on the extraordinary attributes of spider webs featuring a scientist from MIT. I believe he said we are currently unable to produce web in quantity.
Kraig Biocraft Laboratories Featured in Current Issue of Textile World
MarketwirePress Release: Kraig Biocraft Laboratories, Inc. – 1 minute 43 seconds ago
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Kraig Biocraft Laboratories, Inc.
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LANSING, MI--(Marketwire -02/07/12)- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB.PK - News) (Pinksheets: KBLB.PK - News) announces that the Company's spider silk technologies, including Monster Silk, are featured as the "Quality Fabric of the Month" in the current issue of the leading textile industry publication Textile World.
An electronic version of the Textile World article titled Spider Silk: Potential Unleashed, is available online at the following link, http://www.textileworld.com/Articles/2012/January/Jan-Feb_issue/Departments/QFOM_Spider_Silk.html
"We're honored to be featured in the current issue of Textile World as the 'Quality Fabric of the Month,'" stated Company CEO and founder, Kim Thompson. "This recognition of our achievements and our products by this leading industry publication just at the time when we are moving to commercialize our Monster Silk product could not have been more timely. I want to say thank you to the people at Textile World. For many executives in the textile industry this article will be their first glimpse of how our Company's scientific breakthroughs are making recombinant spider silk a viable, unique and exciting reality."
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com) is a fully reporting biotechnology company that has achieved a series of scientific breakthroughs in spider silk production, with implications for the global textile industry.
Cautionary Statement Regarding Forward-Looking Information
Statements in this press release about the Company's future and expectations other than historical facts are "forward-looking statements." These statements are made on the basis of management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as "believes," "plans," "expects," "anticipates," "foresees," "estimated," "hopes," "develops," "researching," "research," "potential," "could" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals should all be considered forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Management cautions that its ability to further its research, and create commercially-viable products may be affected by the competitive environment, the Company's financial condition and its ability to raise sufficient capital to meet the financial obligations of its business plan and to fund its continuing operations.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Contact:
Ben Hansel
Hansel Capital
Email Contact
(720) 288-8495
The stock of Zoltek (ZOLT) a manufacturer of high tech Carbon fibers used in the manufacture of wind turbine blades is up 67% in less than a month.
http://community.nasdaq.com/news/2012-02/a-stock-i-wrote-about-is-up-67-in-less-than-a-month.aspx?storyid=118659&source=TheMotleyFool
I don't believe our fibers will be in direct competition with carbon fiber as it's strong suit is very low stretch beneficial in composite layup of light strong Propeller blades boat hulls, masts and rigging, airplane parts and the like but this shows a strong demand for high tech fibers.
For the layman who has problems understanding this science how about a video demonstration. Presuming it is impractical to construct a web to capture a 747 in flight how about something heavy, like a horse for example, suspended from the minimum silk required?
I saw John Keenan last night. He is back here in the West Indies for a few days but just came from Peru where he is still working on gold projects. He is no longer associated with either of the Gold Sands projects of interest to us but did say mining Co's in Peru were generally having difficulty locating the money to start up operations. Wish I had more information.
BMSPF- don't post much but thanks for the tip. That 50k puts me up to my limit on this one but I'll be watching closely. deep
hope so that was me. Now someone elses turn.
Had a no conditions bid in at $2.50 all day, no fill but three fills at $2.40 near the close??
$200 oil within 24 months?
http://www.fool.com/investing/general/2011/11/16/200-crude-in-2012.aspx
Interesting article on GOLD. It would be nice to be in production as gold heads for $4,000.
Did John Paulson Kill the Gold Rally?
By Alex Dumortier | More Articles
November 5, 2011 | Comments (2)
Even as a long-term bear on the metal, I was initially puzzled by gold's underperformance over the past couple of months, just as the European sovereign debt crisis moved into high gear.
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I thought I had the answer -- or a convincing explanation, at the very least -- for this conundrum. However, the Financial Times broke a story this week that has forced me to toss out my hypothesis.
The biggest gold bull of them all
I track a small number of investors, and John Paulson -- the man who made billions of dollars personally by betting against the subprime-mortgage market -- is among them. Was he at the origin of or a significant contributor to gold's underperformance? It seemed like a viable explanation when you put the following four observations together:
Paulson's funds have performed atrociously this year, down by almost half this year after a one-fifth decline in September alone. Investors in his flagship fund have seen all their gains in the fund since 2008 evaporate.
Gold was one of the firm's most profitable positions in 2010 and in 2011.
Gold, by way of the SPDR Gold Trust (NYSE: GLD ) , is the firm's largest reported position, with a value of $4.6 billion at the end of June
Paulson & Co. is the largest owner of the SPDR Gold Trust -- by a wide margin -- and the only hedge fund manager in the top 10.
Along with many others, I was expecting an enormous wave of redemption requests from Paulson's outside investors in response to the funds' miserable returns this year. Surely, Paulson is liquidating part of his gold inventory to meet redemptions, I thought.
There's no motivation to sell
Thankfully for Paulson, his investors have remained remarkably loyal -- for now, anyway. In a letter to his investors on Tuesday, he wrote that redemptions totaled less than 8% of firm assets -- less than the typical end-of-year redemptions the hedge fund manager receives. Consequently, it's highly unlikely that Paulson has been selling gold, or not in a significant proportion, at any rate.
What about on an ongoing basis: Does the overhang of that huge gold position present a risk to other investors? That's unlikely, and here's why. Paulson & Co. partners are now the largest investors in his hedge funds, representing more than a third of the assets under management, with John Paulson the largest single investor. The gold positions facilitate gold-denominated share classes in his hedge funds; the firm offers this option for every single one of his funds. However, the investors who have taken advantage of this option are mainly Paulson himself and some of his partners.
Conviction is very high
Everything I've read and heard -- including from people who have sat in on a presentation of the firm's thesis for gold -- suggests that the level of conviction regarding this trade is very high. (My colleague Chris Barker has high conviction on gold, and he's found 5 Clever Ways to Get Gold for Free .) Don't expect Paulson or his partners to bail out any time soon; in May, he told investors that gold could rise as high as $4,000 an ounce over the next three to five years. Given the link between the two, that high-conviction stance probably applies to the sizeable positions Paulson & Co. has accumulated in some gold miners:
Security
Ownership %
Shareholder Rank
Position value
SPDR Gold Trust -- 1 $5.3 billion
AngloGold Ashanti (NYSE: AU ) 10.4% 2 $1.8 billion
Gold Fields (NYSE: GFI ) 6.7% 4 $824 million
NovaGold Resources (AMEX: NG ) 8.4% 2 $185 million
Position as of June 30, valued at Nov. 2 prices. Source: S&P Capital IQ.
So if Paulson isn't responsible for gold's mid-air stall in an environment in which it should be soaring, is there a wider trend at work that could mean the end of the bull market in gold? Remember that in July and August, gold experienced a meteoric rise, achieving an all-time nominal high above $1,910 on Aug. 22. Even though gold has been in a bubble at least since the third quarter of 2010, we had yet to witness such an acceleration in prices, which is characteristic of many bubbles.
Gold bulls: You're safe for now
Following that overheating, a decline and a period of pause is hardly surprising, and price increases in the last couple of weeks suggest that the rally may already be resuming. In other words, you look safe for now, gold bulls, as the European crisis and other problems provide fuel to the gold rocket. But don't forget that gravity will eventually assert itself -- make sure you've pulled the ripcord before then.
With gold prices at historic highs, one little-known company is minting a fortune -- find out which is "The Tiny Gold Stock Digging Up Massive Profits."
Hi snotter
Nice to see a post here and if there was a recent change to the web page it is at least a small indication of some life in the Co. I keep wondering how much of the total property they have to test mine before they go rent one of those small Beaver Dredges and processing plants and get on with it. The numbers looked good enough from the test mining that even that might have been profitable and if they need more results why did they quit? Sure wish Pat was back on the radio.
Thanks Crumb, Schwab picked up on your 2 share purchase and it dropped my account almost half my initial purchase back a 1.2 cents a share.
Hi Z06 MAN the numbers continue to look very good. I do get impatient with the apparent foot dragging. Lets get on with it. Hope you are clear of Monster Irene. Fortunately it hadn't got going when it passed here last week. We just got 3 inches of rain and gusty winds.
I guess I can mount my FCGD certificate on the bathroom wall next to my CMKX and GM certificates.
I wondered about that as it sounds like FCGD mite loose there mineral rights and they are adjacent to GSDC.
I can't believe they are thinking of acquiring more mineral rights instead of exploration and mining on the massive amount of land they already control.
We may exercise the initial option to acquire a thirty-three percent interest in the Mineral Rights by fulfilling the following conditions:
? Issuance of 500,000 shares of our common stock to Temasek within thirty
(30) days from the Effective Date (issued March 19, 2010);
? Payment of $250,000 to Temasek within twelve months of the Effective Date (paid on January 24, 2011); and
? Issuance of 1,000,000 shares of our common stock to Temasek or its designee within twelve months of the Effective Date (issued January 27, 2011).
In the first quarter of 2011 we exercised the initial thirty-three percent option and acquired a thirty-three percent interest in the Mineral Rights by paying to Temasek the balance of the consideration required to exercise the initial thirty-three percent option. Since the execution of the Option Agreement, we have satisfied the requirement to pay $250,000 by the issuance of 2,500,000 shares and warrants and have issued 1,500,000 shares of our common stock to Temasek in accordance with the terms of the Option Agreement.
We may exercise the second option to acquire the second, thirty-three percent interest in the Mineral Rights, resulting in the acquisition of a sixty-six percent interest in the Mineral Rights, by fulfilling the following conditions:
? Exercise of the initial option to acquire a thirty-three percent interest in the Mineral Rights;
? Payment of an additional $1,000,000 to Temasek within twenty-four months of the Effective Date (January 25, 2012); and
? Issuance of an additional 1,000,000 shares of our common stock to Temasek or its designee within twenty-four months from the Effective Date (January 25, 2012).
- 9 -
Table of Contents
We may exercise the third option to acquire the final, thirty-four percent interest in the Mineral Rights, resulting in the acquisition of a one-hundred percent interest in the Mineral Rights, by fulfilling the following conditions:
? Exercise of the first and second options to acquire an aggregate sixty-six percent interest in the Mineral Rights;
? Payment of an additional $2,000,000 to Temasek within thirty-six months of the Effective Date (January 25, 2013); and
? Issuance of an additional 2,000,000 shares of our common stock to Temasek or its designee within thirty-six months from the Effective Date (January 25, 2013).
Upon our acquisition of a 100% interest in the Mineral Rights, Temasek is entitled to an annual 2.5% net returns royalty. However, if we pay Temasek an additional $2,000,000 within ninety (90) days of its acquisition of a 100% interest in the Mineral Rights, Temasek will only be entitled to an annual 1.0% net returns royalty from us.
If we exercise the second, thirty-three percent option, resulting in the acquisition of a sixty-six percent interest in the Mineral Rights, but fail to exercise the final option and fail to acquire a 100% interest in the Mineral Rights, we and Temasek will form a joint venture in which we will be wholly responsible for developing a feasible mining project and all necessary facilities and Temasek shall retain a carried free interest in the mining rights. If we do not develop a feasible mining project within three years of the Effective Date, we will be required to pay Temasek an advance minimum mining royalty of $500,000 per year, which will be deducted from Temasek's net return royalty.
There is no assurance that a commercially viable mineral deposit exists on any of the properties underlying our mineral property interests, and a great deal of further exploration will be required before a final evaluation as to the economic and legal feasibility for our future exploration is determined. We have no known reserves of any type of mineral. To date, we have not discovered an economically viable mineral deposit on any of the properties underlying our mineral property interests, and there is no assurance that we will discover one. If we cannot acquire or locate mineral deposits, or if it is not economical to recover any mineral deposits that we do find, our business and operations will be materially and adversely affected.
Then why the heck did they stop testing!!
Income Statement
http://finance.yahoo.com/q/is?s=fcgd.pk
Hi Z06 MAN many thanks for the "heads up" Fortunately I have been loading "Kraig" for a year now and agree with you on the potential.
When I jot down the rough numbers on GSDC they indicate that with gold at these prices they could pay for a $5,000,000 dredge with the profits from less than 90 days of operation then bank over $55,000 a day. What are we supposed to make of no action in light of that? Makes me think there are some big problems I am not aware of. KT is to quiet but the silence here is deafening.
Do I recall correctly that GSDC was estimating the cost of recovery with the large dredges would be $250 to $300 an oz? With Gold over $1,700 the next move seems obvious to me.
Gold and diamonds jumping out of the ground WOW.
At the current price of gold would it not have been profitable to continue with the Test Mining? The stock price is not showing much confidence. at this rate I may be living off bananas soon, fortunately this island is covered with them!! deep
China Integrated Energy: Ripe for Significant Upside After Appointing New Auditor and Updating Guidance
3 comments | August 4, 2011 | about: CBEH
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China Integrated Energy (CBEH) last week announced the appointment of a new independent auditor, Sherb & Co., LLP, to replace KPMG. Sherb & Co will commence its audit work to re-audit the company's annual results for the year ended December 31, 2010 and will also begin the process to review the company's quarterly financial results for 2011.
With this latest step, the company is seemingly slowly getting back to business as usual after being severely impacted by, from management's point of view, an evidently somewhat unexpected turn of events earlier in the year, which although initially triggered by a number of articles published by a group of short-sellers, was subsequently handled far too carelessly by the board and for which management has certainly had to take their share of responsibility.
The initial independent investigation, in response to aforementioned publications, by the Audit Committee was cut short due to the resignation of the investigating law firm Pillsbury after payment was delayed to Pillsbury and Deloitte by management. This was due to disagreements with Pillsbury and Larry Goldman, CBEH's previous audit chairman, on both the manner in which the investigation was being conducted and the nature of the information requests by Pillsbury. The company's founder and current CEO, Mr. Gao Xincheng, was seemingly overestimating the level of commitment of its new auditor, especially in light of the whole Chinese RTO saga and possible liability concerns.
The subsequent chain of events whereby within a timeframe of a few weeks KPMG resigned due to "non-cooperation of management with the independent investigation", only 4 months after CBEH completed SOX 404 implementation based on KPMG's recommendations, and the resulting NASDAQ delisting due to "absence of auditor" was evidently unforeseen by management.
Although management was quick to act in hiring Steven Markscheid, former representative of US China Business Council, vice president of Chase Manhattan Bank and First Chicago Bank and director at GE Capital, as independent Director and Audit Committee Chair and renowned international law firm Shearman & Sterling LLP as special counsel to the Company's Audit Committee, it was too late to maintain NASDAQ listing and the share price was decimated to unseen levels. As Shearman & Sterling's independent investigation is advancing and with the appointment of Sherb & Co as new auditor, management is now finally able to provide updated guidance for FY 2011.
Jeff Chan, Chief Financial Officer of China Integrated Energy, said,
For financial year 2011, the Company's sales are currently expected to be $497 million and net income is expected to be $41 million. At the beginning of 2011, the Company provided guidance for sales of $588 million and net income of $72 million.
We have revised guidance downward for the financial year 2011 due to several factors. In the first half of 2011, our biodiesel production facilities in Tongchuan were not producing at planned capacity due to government restrictions on chemical and oil production during the International Horticultural Exposition (the "Expo") in Xi'an, which began in April 2011 and is currently still underway. We were successful, however in our efforts to maintain limited hours of production each day as the local government authorities acknowledged that our production of biodiesel is safer and less pollutive than traditional oil refining. Normal production schedules will resume after the end of the Expo in November 2011.
In addition, the newly acquired equipment for the Tongchuan Phase 2 plant is still undergoing testing. Production is scheduled to commence in the third quarter of 2011. Additionally, one of the production lines in the Chongqing plant was upgraded in the second quarter of 2011, which temporarily reduced our biodiesel production during that period.
As previously announced, four gas station leases were cancelled by Shaanxi Highway Services Co., Ltd. as part of the government's effort to reduce the number of gas stations leased to third party operators. As a result, we have received a refund of about $3.9 million (approximately equivalent to RMB26 million) for the advance lease payment that was made at the time we began operating those gas stations.
On July 8, 2011 and July 11, 2011, we received termination notices from Shaanxi Fangwei Road Gas Station and Lantian Gas Station for the gas stations leased by Xi'an Baorun at those locations. The termination of the operating lease for Lantian Gas Station is due to the expected demolition of this gas station in order to widen the road, a project undertaken by the local government...The Company expects to receive a refund for the advance lease payments made amounting to approximately $10.9 million (approximately equivalent to RMB71 million).
As a result of the termination of these leases, our retail gas station segment sales have been reduced.
To date, we have not received the corporate income tax waiver for financial year 2011 from the Xi'an local tax bureau for our Xi'an Baorun subsidiary and, hence, we expect that Xi'an Baorun will be subject to corporate income tax at the rate of 15% since it has been certified as a High & New Technology Enterprise.
Our expenses are also expected to increase due to the cost of the ongoing independent investigation.
The revised guidance reflects the Company's current estimates based on the conditions and trends known to the Company as of the date of this release. Results are subject to change based upon further review by management and future changes in market and operating conditions.
Given the updated guidance on revenue and net income, alongside clarification on the current status of the biodiesel production lines, often referred to in other articles, and clarification on the number of gas stations now managed by CBEH, from 13 to 9 and now 7 stations due to lease terminations (4 owned, 3 leased), it will be interesting to see how the share price will develop in the next 6-12 months.
Comparing the guidance for expected sales of $497 million to the previous year's $438.7 million (2010) and $289.6 million in 2009, the company seems to have maintained its growth momentum despite recent developments. Expected net income of $ 41 million (2010: $37.7 million, 2009: $27.1 million) on 42.2 million shares (diluted) comes down to expected EPS of approximately $0.97 for FY 2011.
Cash and cash equivalents at the end of last year stood at $ 90.3 million compared to $ 62.4 million at the end of 2009. The $90.3 million includes $14.3 million net proceeds from a registered direct offering completed in December 2010, when the share price was still hovering around the $7 range. When taking the current cash on hand, a little over $2 per share, as buffer alongside a very favorable asset/liability ratio (264 million / 34 million last reported) and a P/B of 0.3, the current share price seems attractive in itself.
Given the timing of the provided guidance, it seems unlikely that the independent investigation and re-audit will show either a balance sheet or income statements greatly differing from the guidance provided last week. Time will tell, but this particular stock seems ripe for some significant upside during the second half of this year as management returns focus on running a growing and profitable business and winning back the trust of the investor community.
Links to the discussed PRs, directly from the company website: here and here.
This investor presentation (.pdf) provides some useful information on China Integrated's business.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in CBEH over the next 72 hours.
This article is tagged with: Long & Short Ideas, Long Ideas, Basic Materials, Oil & Gas Refining & Marketing, China
I realize this is old news but interesting
Fiery Volcano In Colombia Spewing Gold
By SANDRA BLAKESLEE
Published: October 28, 1994Sign In to E-Mail
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A volcano in Colombia is spewing more than a pound of gold each day into the atmosphere, a scientist said yesterday. He said the volcano was also depositing 45 pounds of gold a year into the rocks lining its crater.
"I expect there will be a rush to stake claims in this volcano," said the scientist, Dr. Fraser Goff, a geologist at the Los Alamos National Laboratory in New Mexico. Dr. Goff made the discovery at the Galeras volcano in the Colombian Andes.
While gold is sometimes found in extinct volcanoes, Dr. Goff said, the Galeras volcano is venting commercial amounts of gold from its fiery top. This is the first time scientists have detected visible gold particles in an active volcano.
It is not known how much gold the volcano has produced since it began forming more than 500,000 years ago, Dr. Goff said. He presented his findings at the annual meeting of the Geological Society of America in Seattle.
Do we look at the termination of this program in around half the time they originally announced as good news (we have found out what we needed to know so lets move on to the next stage) or not.
In any case the Co. doesn't seem to be anxious to keep the shareholders FULLY informed.
It looks like good news but not sure I have enough information to be optimistic.
GoldSands Reports Results of Mika 2 Test Production
http://finance.yahoo.com/news/GoldSands-Reports-Results-of-iw-579853584.html?x=0&.v=1