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I just put a bottle of bubbly in the fridge. I will be toasting the JBII crew, and all Canadians tonight, as I watch the Olympics, and hope that Canada wins a bunch of medals!
Fri 12 Feb, 8:00 am New York = Tokyo 10:00 PM.
http://www.timeanddate.com/worldclock/fixedtime.html?month=2&day=12&year=2010&hour=8&min=0&sec=0&p1=179
Wouldn't that be like 3:00 pm Pacific time today 2/11?
I found this to be a fascinating interview - China is building a steel plant in Brazil, because they found that it was cheaper to make the steel in Brazil, than in China.
http://www.charlierose.com/view/interview/10851
The soon-to-be richest man in the world, rewards his employees with his own personal shares, he does not dilute shareholders.
http://www.charlierose.com/view/interview/10851
http://www.charlierose.com/view/interview/10851
Charlie Rose interview with Eike Batista.
"The 500,000 earn-out shares excludes the possible issuance of an additional 2,800,000 ordinary shares if the funds left to the combined company following the closing are US$1,250,000 or less."
How much do you estimate will be left after closing?
I would not discount AAPL as yet. Jobs is wily like a fox. He has a very simple plan, control access to media. Music media is itunes, and the itunes store, where they set the price, and the recording industry had to succumb. Remember AAPL bought NEXT. Jobs is PIXAR, and the largest shareholder of the venerable "Disney". That is going to be his lever to the movie on imac/ipod/iphone/ipad business.
Already, without the sale of a single ipad, McMillan publishers got into a beef with Amazon. The size and portability of the ipad make it the ideal tool for students, so textbooks will be modified - formatted for the ipad. Kind of like how ipods spawned podcasts, the ipad will become a portable classroom, and bringing up the rear, will be books and newspapers.
Oh yes, the Golden days of AAPL are yet to come.
I match your hand, and raise you another DOG...SBAY.
Wasn't this part of the deal with Barron's, get a big 10 accounting firm as auditor, along with 180 days to move from OTCBB?
Then why don't they either a)remove the reference from their website, or b) make such an announcement on their website?
As far as I am aware, their contract expires Jan 31, 2010, per email to HCI 12/15/09
Dear Matt.
I noticed from the CYXN fact sheet on your website, that you are being paid to January 31, 2010. Have you negotiated an additional contract with them, or will you be terminating the relationship on the aforementioned date?
Matt Hayden to me
I don’t know that answer. We shall see when Jan. comes around.
Matthew Hayden
HC International, Inc
"We are an informal group of U.S. and Chinese research analysts working for an elite hedge fund clientele" and
"Our short recommendations in the last 2 years were:"
And after 2 YEARS, as of this morning,(when I looked) this enlightened group of "anal ysts" could only manage to grow to 8 followers.
What this shows is that if you want to short a stock, simply write a piece on Seeking Alpha - seems to have done the trick here. We'll really be in for it, if they discover that there was some gossip on CKGT and GCHT.
This is honorable client of Matt Hayden/HC International Inc.
http://www.hcinternational.net/pdf/client_overviews/CYXNcorporateprofile.pdf
They certainly put up some great numbers, and now it looks like they will have to carry the market on their shoulders over the next couple of days. If that happens, look for the squeamish to jump out of China small caps, i.e. more pain. However, most of the stocks followed here are because of strong fundamentals, and that will in time bring in institutional investors, which would lead to a bit more stability.
CSP - forgive me, I can't resist, AAPL weeeeeeeeeeeeeeeeeeeeee, salivating with 480 in my bluechip account.
In 10 days, it lost $10. worth of love. Should be an interesting next 6 weeks. There's a guy who does pretty good, and he seems to think $75.54 is doable.
http://www.mrmarketishuge.com/showthread.php?t=2718
Extension of Time to Complete a Business Combination to 36 Months
We have a period of 18 months from the consummation of our initial public offering within which to effect our initial business combination, with an additional six-month period (for a total of 24 months) if a letter of intent, agreement in principle or definitive agreement has been executed within such 18 month period but as to which the combination is not yet complete. However, unlike many other blank check companies, if we have entered into such letter of intent, agreement in principle or definitive agreement within such 18 month period, we may, prior to the expiration of the 24 month period, call a meeting of our shareholders for the purpose of soliciting their approval to extend the date before which we must complete our business combination by an additional 12 months to avoid being required to liquidate. If the extended date is approved by shareholders we would have a total of 36 months from the date of our initial public offering to complete a business combination. However, during the extended period, we may consummate a business combination that is different from the originally proposed business combination pursuant to which such letter of intent, agreement in principle or definitive agreement was executed.
FFHL
Class Action
On October 19, 2007, the Company became aware that a class action lawsuit had been filed in the United States District Court for the Southern District of New York, on behalf of all persons who purchased the Company’s stock from the date of the Company’s IPO on December 19, 2006 through October 16, 2007. The complaint alleged that the Company and certain of its present and former officers, directors, and shareholders violated the Securities Act of 1933.
On November 21, 2007, the Company was given notice that a second class action lawsuit had been filed in the United States District Court for the Southern District of New York, commenced on behalf of all persons who purchased the Company’s stock pursuant or traceable to the Registration Statement and Prospectus issued in connection with the Company’s IPO, during the period from December 19, 2006 through November 12, 2007. The complaint alleged that the Company, its underwriters, and certain of its executives violated Sections 11, 12(a)(2), and 15 of the Securities Act of 1933 by misrepresenting or omitting material information regarding the Company and its business operations.
On January 24, 2008, the Court consolidated into a single action the putative securities class actions pending against the Company and certain of its officers, directors, and shareholders. The Court appointed Ninyat Tonyaz as lead plaintiff, appointed the Rosen Law Firm, P.A. as lead counsel, and granted plaintiffs leave to file a consolidated amended class action complaint. The consolidated action is styled, In re Fuwei Films Securities Litigation, Case No. 07-CV-9416 (RJS).
On March 14, 2008, plaintiffs filed a consolidated amended class action complaint (the "Amended Complaint") naming as defendants the Company, Xiaoan He, Mark Stulga, Jun Yin, Tongju Zhou, Duo Wang, and the Company's IPO underwriters (the “Underwriter Defendants”) — Maxim Group LLC, WR Hambrecht + Co., and Chardan Capital Markets, LLC. The Amended Complaint asserts claims for violation of Sections 11, 12(a)(2), and 15 of the Securities Act of 1933.
On May 14, 2008, the Company and Messrs. He and Stulga filed a motion to dismiss the Amended Complaint in its entirety. The Underwriter Defendants separately moved to dismiss the Amended Complaint.
On November 3, 2008, Plaintiffs filed proofs of service with the Court, indicating that Messrs. Yin, Wang, and Zhou were served with the Amended Complaint on or about August 14, 2008, and that they had 90 days after such date to serve an answer to the Amended Complaint or a motion pursuant to Rule 12 of the Federal Rules of Civil Procedure.
On March 10, 2009, the Company became aware of the initial verdict issued by the Jinan Intermediate People’s Court in the city of Jinan, Shandong Province, concerning the Company’s three major shareholders, Messrs. Jun Yin, Duo Wang and Tongju Zhou. The verdict found the three major shareholders guilty of the crime of misappropriation of state-owned assets relating to tens of millions of RMBs worth of assets during the reorganization of Shandong Neoluck Plastics Co., Ltd. The court sentenced Mr. Yin to death, with a stay of execution for two years. Messrs. Zhou and Wang each received a sentence of life imprisonment. Messrs. Yin, Wang and Zhou challenged the verdict by submitting an appeal.
By letter dated March 17, 2009, Plaintiffs apprised the Court of Fuwei’s March 10, 2009 Press Release disclosing the initial verdict against Messrs. Yin, Wang, and Zhou, and requested that the Court take judicial notice of this press release in adjudicating the then-pending motions to dismiss. Plaintiffs argued that the initial verdict supports their claim that the DMT and Bruckner production lines were wrongfully transferred from Shandong Neo-Luck Plastics Co., Ltd. to the Company. By letter dated March 24, 2009, counsel for the Company and Messrs. He and Stulga submitted a response in opposition to Plaintiffs’ March 17, 2009 letter.
By the Court’s Memorandum and Order dated July 10, 2009, the motions to dismiss of the Company, Messrs. He and Stulga, and the Underwriter Defendants were granted in part and denied in part. At this preliminary stage of the litigation, the Court was required to assume that the facts alleged by the plaintiffs are true and to draw all reasonable inferences in the plaintiffs’ favor. Applying that standard, the Court dismissed plaintiffs’ claims to the extent they were based upon Fuwei’s alleged failure to disclose the DMT arbitration proceeding. The Court also dismissed certain of plaintiffs’ claims to the extent they were brought on behalf of shareholders who did not purchase their shares directly in the IPO.
The Court sustained plaintiffs’ remaining claims. However, the Court noted that defendants may be able to assert affirmative defenses provided by the federal securities laws in a motion for summary judgment, which could resolve the case before trial.
On September 9, 2009, an Answer to the Amended Complaint was filed on behalf of the Company, Mr. He and Mr. Stulga. The Underwriter Defendants also filed an Answer to the Amended Complaint. The answering parties denied liability to the plaintiffs and asserted numerous affirmative defenses to the plaintiffs' complaint. On October 2, 2009, the Court entered a case management plan and scheduling order, which sets deadlines relating to pre-trial discovery, mediation, and dispositive motions.
On November 12, 2009, the Company become aware of the final verdict issued by the Supreme People's Court of Shandong Province, concerning the three major shareholders, Messrs. Jun Yin, Tongju Zhou and Duo Wang. The Supreme People's Court upheld the initial verdict issued by the Intermediate court in March 2009. All of the personal property of these three shareholders will be confiscated by the Chinese government. Messrs. Yin, Wang and Zhou have no involvement in Fuwei’s day-to-day operations.
The Company may encounter damages from the class action complaint, and its operation and financial statement may be adversely effected. As of September 30, 2009, the Company’s management believed that the allegations are without merit. However, we are currently unable to reasonably estimate the amount or range of possible losses that will result from the ultimate resolution of this matter. Currently, there is no evidence or legal findings indicating that the asset, which the Company acquired from auction, could be disposed. At present, it is difficult for the management to predict how the change of 65% shares ownership will affect the Company.
The Company’s management continues to believe that the plaintiffs’ allegation’s are without merit. The Company intends to defend itself vigorously against the claims and has engaged a law firm in this regard. However, the Company's management is currently unable to reasonably estimate the amount or range of possible losses that will result from the ultimate resolution of this matter. As of September 30, 2009, the Company has not accrued any liability in connection with this litigation except for the defense expenses.
Well I just cancelled my 2K bid @2.98 after seeing a fill for 16,500 @2.8891 wonder what's up with that??!!
Or perhaps, our window into China - Google, may be closed.
Red sea? You on the wrong continent, today I see
CPQQ, CMFO +.18
SGZH +.22
CYXN, CSGJ, SIAF +.01
CHGI, CREG +.08
LTUS +.05
CHGS +.13
SBAY +1.75
YYIN +.57
CWS
If that was the clue on Jeopardy, then the question would be -
What stock is the closest to a bungee cord?
I just cannot understand this daily and intra-day up and down!
There was a portion of the replay, that was choppy, so if you heard the original, what exactly did he say about $20MM and 5MM shares???
YYIN
TIANJIN, China, Jan. 12 /PRNewswire-Asia-FirstCall/ --
Yayi International Inc., (OTC:YYIN) (BULLETIN BOARD: YYIN) ("Yayi International" or "the Company"), the first mover and the leading producer and distributor of premium goat milk formula products for infants, toddlers, young children, and adults in the People's Republic of China, today announced the premiere of a new television advertising campaign that continues to build its brand for its goat milk products nationwide
The 15-second commercial started airing January 1, 2010 on the China Central Television Channel 1 (CCTV-1) at the beginning of the channel's flagship national news program (XinWenLianBo) at 7pm and is considered one of the most valuable prime-time advertising time slots by Chinese advertisers. Advertisers tend to compete for prime-time advertising time slots to grow their brands into industry leaders, as shown by Wanglaoji, a Chinese herbal tea brand that scaled up sales after it ran its advertisement campaign on CCTV-1. As a national television network, CCTV is considered a more preferred outlet for companies in China to build a national brand. In addition to the evening news program, the Company's commercial is also airing during two afternoon programs on CCTV-1
"Although it has only been 11 days since the commercials first aired, we have created quite a stir within the dairy industry in China. The reaction particularly from cow milk powder distributors has been intense, as we believe we have paved way for a new and exciting market segment," said Ms. Li Liu, Chief Executive Officer of Yayi International. "We plan to continue including TV ad campaigns as a permanent component of our marketing strategy in order to aggressively convey the benefits of goat milk to a broader audience."
Yayi International plans to run the commercials for one year on CCTV-1 and to expand its advertising campaign to CCTV-3 and CCTV-8 in the second quarter
To watch Yayi International's TV commercial, please click here: http://www.ccgasiair.com/content/yayi-international-inc
About Yayi International
Yayi International is the first mover and the leading producer and distributor of premium goat milk formula products for infants, toddlers, young children and adults in the People's Republic of China. Its current formula product lines are targeted at the premium market segment and health-conscious consumers. The Company's distribution network comprises of approximately 3,600 retail points including infant-maternity store chains, supermarkets, and drug stores as well as catalogue sales across China
Holy crap, we are up 28.85% in 1 day!!!!
GURC
Born Nov. 9, 2009 @ $1.65 now $4.50
every time you catch one, another pops up.
YYIN
While we're following
CMFO for fish
SIAF for cows
YUII for chickens
let's not forget the goats at YYIN are also having fun!
SBAY
Rick Pearson interview with Jim Crane -
http://www.thestreet.com/story/10658901/1/sweet-on-subaye-cfo-interview.html
Took a position today, 8K @ 2.12
Decided if I had cows - SIAF, then it was only fair I should have some goats.
I think today's action is as a result of a piece on TheStreet.com today, by Rick Pearson
http://www.thestreet.com/story/10658614/5/separating-winners-from-losers-in-china.html
So a PR to say that sales were $152K more than forecast, and not a simple sentence concerning the status of the land purchase???
Then there is the discrepancy in the numbers quoted -
In it's POS-AM filing of 1/7/10, we read
"The Company has over 469 acres of cactus-farming bases in the Guangdong and Heilongjiang Provinces of China."
PR 1/11/10
"China Kangtai controls over 387 acres of plants and maintains an active R&D group that holds 18 product patents and is seeking another 12."
CKGT - NEWS, PR out today.
So a PR to say that sales were $152K more than forecast, and not a simple sentence concerning the status of the land purchase???
Then there is the discrepancy in the numbers quoted -
In it's POS-AM filing of 1/7/10, we read
"The Company has over 469 acres of cactus-farming bases in the Guangdong and Heilongjiang Provinces of China."
PR 1/11/10
"China Kangtai controls over 387 acres of plants and maintains an active R&D group that holds 18 product patents and is seeking another 12."
NO, DRWI is a Canadian stock = DragonWave, Inc.
In this sphere, you can look at CMP.
Here are some more, wth US symbols.
GLG.TO or GLGL (NASDAQ) - almost a monopoly on stevia, a natural sweetener
KMK.V or KMKCF.PK - mining - copper/gold
GMN.V or GMNFF.PK - mining - metals - trading under cash
JIN.TO or JINFF.PK - mining - gold - 41% owned by largest gold co. in China
ABC.V or ABCXF.PK - glucose - just tripled capacity
HF.TO or HFGVF.PK - fertilizer - 20% owned by Agrium
MCG.V - developing ski resorts in China
MGO.TO or MIGGF.PK - fertilizer
But there is one huge significant difference, if there is a problem, the Chairman can order a change, and fix the problem, they don't have to put up with lobbyists et al.
LLEN (LLFH)
VALUATION
We estimate the Company’s revenue run rate has risen to approximately $26.0 million per quarter. Based on performance in the October 2009 quarter, we expect L&L to be able to earn a 25% net profit margin and convert as much as 20% of sales to cash, implying earnings of $0.25 per share and cash flow from operations near $5.2 million per quarter. If we are correct in these projections, at a price earnings multiple of 10.0 times, suggests a forward value of $10.00 per share.
Our price target of $7.25 falls short of this valuation exercise. We are concerned that investors may be unwilling to according the prevailing valuation multiples to LLFH shares until financing reports provide greater clarity and transparency. While generally favorable in our view, recent balance sheet changes might confuse some investors. Furthermore, the last quarter report held other surprises, including the revelation that the L&L International CEO, Dickson Lee, had previously violated laws related to the sale of securities and is prohibited from certain actions in certain states. Furthermore, the Company apparently has a tin ear with regard to expenses, spending $266,000 on a “China mansion.” While we believe the investment in accommodations for management in China could prove to be a bargain when compared to prevailing hotel rates, the expenditure comes directly after a dilutive equity offering that is resulting in the amortization of approximately $5.0 million in derivative security expense.
Management has disclosed that the Company has applied for listing on a Nasdaq exchange. Approval for listing on a national exchange should be a catalyst for the stock price. Furthermore, we have learned in conversations with management that an accounting consultant has been engaged to advise the Company in compliance with the internal audit portions of Sarbannes-Oxley. Greater attention to internal controls may also help improve transparency and consistency in financial reporting that could ultimately
boost investor confidence.
http://www.crystalequityresearch.citymax.com/f/LLFH_Update_12-28-09.pdf
It's alive!!!! Got back my principal and will ride with 11,500 free shares.
Very good, except for that pesky $12MM in GOODWILL!!
But profits of $7MM versus a total prior $3MM - WEEEEEEEEEEE
CYXN.... PR out today, here is an extract -
With the new stores, the Company now has 96 stores in total in China (including 22 franchisees), offering a broader product portfolio including 98% of the items listed on the recently issued Essential Drug List (EDL) in China. With expanded marketing activities, these new stores contributed to increased revenues in 2009 from the Company's retail drug operations, which increased by approximately 30% over the prior year. These new stores also helped to improve the Company's 2009 gross profit which was $15.2 million and gross margin of 32.6%, representing a significant improvement over the $11.9 million in gross profit and gross margin of 20.1% for 2008