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FTK, Niles_Crane3...
Thanks for the FTK posts. I didn't have time to listen to the presentation last night but will over the weekend. The "very large acquisition" sounds interesting. If I remember right, Jerry said in the last presentation that they'll only look at acquiring companies that will contribute a min 15% net profit to the bottom line.
FTK, Niles, Thanks. BTW, it looks like the TWS purchase will be done w/ cash only. No issuance of shares mentioned, so no dilution!
Niles....Will you be posting notes from EnerCom? I won't be able to listen to it till later this evening.
ARSD...Thanks VanGo. A move off the pinks with their kind of earnings will turn this company into a grand slam IMO! A move to the Nasdaq would be more like 10 grand slams in one ball game!
I'm holding and still believe this is one of the most undervalued stocks I've seen posted here!
We'll see what happens.
FTK, (n_c3)...FTK's EnerCom presentation is tomorrow at 11:45 a.m.
http://www.enercominc.com/tosc06/schedule.html
I won't be able to listen to the presentation until tomorrow evening. If you're around during the conference, can you please post notes. I'll try to get to a computer to read them. Thanks.
TBYH, Client base DOUBLED over last 3 months...
(Oct - Dec)
From 10Q released yesterday...
"Net income was $4,732,000 for the three months ended December 31, 2005 compared to $2,584,000 for the same period in 2004. Net income was $7,915,000 for the nine months ended December 31, 2005 compared to $3,723,000 for the same period in 2004, representing a 113% growth. The significant growth mainly came from an increase from income in design fees. For the three months ended December 31, 2005, our client base doubled and Sunplus intends to bring more clients in the foreseeable future."
NSS, (yinser)...If 2006 has bigger potential than the previous 2 record years, this one looks way undervalued. Low share count, no debt, share buyback, and an eps of $1.76 per diluted share for the quarter and $5.62 for the year compared to a $38.60 share price! Thanks. I'm in!
BBC...The beauty here is that Bodisen pays 0 taxes on all this growth!! Bodisen is exempt from paying income tax through the end of 2007. At that time they can apply for another two years of income tax exemption. The Chinese government provides tax incentives and other financial benefits to companies that engage in the agricultural sector.
BBC...New product with strong demand....
Bodisen Biotech Launches New Product, Expands into Agricultural Raw Materials Market, Bodisen Sees Strong Customer Demand
Monday February 13, 8:00 am ET
Bodisen Builds Capacity to Become One of the Largest Producers of Mancozeb
NEW YORK--(BUSINESS WIRE)--Feb. 13, 2006--Bodisen Biotech, Inc., (AMEX:BBC, London AIM:BODI, website: www.bodisen.com) the first China based environmentally friendly bio fertilizer company listed on a US stock exchange, today announced the launch of its new pesticide raw materials production line which is expected to make Bodisen one of the largest producers of Mancozeb in China.
Mancozeb, an essential agricultural raw material for pesticide, has been in high demand amongst farmers worldwide. Mancozeb is the most versatile chemical used in the production of fungicides due to the fact that it can also be utilized as an end product on crops and not just as a raw material. Bodisen's state of the art facility, which is expected to be completed in March 2006, will employ some of the most current agricultural technologies available. The new manufacturing facility gives Bodisen a competitive advantage, which it believes will increase its production density up to 20% higher than its competitors, making Bodisen an emerging leader in China's agricultural and raw materials markets.
Ms. Karen Qiong Wang, CEO of Bodisen commented, "This is the beginning of Bodisen's entry into the highly profitable agricultural raw materials business. It is a natural vertical integration of Bodisen's existing product lines since we already have some of the best agricultural product distribution channels that exist in China. Demand for this new product from our distribution channels throughout China has been very strong and we see it as one of our future growth catalysts for our business. The launch of this new product line will further strengthen Bodisen's leadership position as one of the fastest growing companies in China."
Ms. Wang continued: "With the completion of our recent financing in London, Bodisen is in a strategic position to continue to aggressively grow our business even further into new markets and new product lines. Our planned two new facilities located in the northeast and northwest parts of China will each have the same production capacity and sales growth as our existing facilities. This is a testament to the strong demand we have and continue to see and we are excited to be able to execute on our strategic growth initiatives in meeting this growing demand and generating long term returns for our growing shareholder base."
In January 2006, Forbes Magazine ranked Bodisen the 16th fastest growing company in China.
PLUS...Earnings are out. ePlus repurchased another 276,756 shares of stock at a cost of $3.7M during the quarter and spent $1.6M on legal expenses pertaining to the patent infringement case against SAP. They must feel pretty confident about a win.
Other than that, nothing too exciting.
Revs = $163M
EPS = $0.14
PLUS...Earnings 2morrow BMO. I'll be up early. eom
TBYH, Connecting the dots to BenQ...
- T-Bay conducts its mobile phone design business through its 95% owned subsidiary, Shanghai Sunplus Communication Technology Co., Ltd.
- Siemens Mobile is a major customer of Shanghai Sunplus.
- BenQ acquired Siemens Mobile last October. (The acquisition created the world's fourth-largest handset maker, and the largest mobile phone technology company in Greater China.)
Is in fact Shanghai Sunplus designing mobile phones for BenQ-Siemens???
If so, we could be sitting on a 3G growth goldmine. Read on...
BenQ-Siemens sets out strategy
Saturday, February 11, 2006
BenQ Mobile, the new business group of BenQ Corporation, has unveiled its new consumer brand BenQ-Siemens to a global audience and set out a 2006 strategy for asserting its position in the mobile handset industry which is estimated at Dh367 billion ($100 billion).
Forged from a dynamic and complementary partnership between the former Siemens handset business and the Asian consumer electronics group BenQ, the new company will focus on expanding its product portfolio in the 3G arena and using the multimedia strengths of BenQ to create a clearly differentiated product proposition.
With an objective to achieve a financially stable business by the end of 2006, BenQ Mobile has adopted two key principles to drive its business forward, focus and simplicity: focus on consumers and market proximity and simplicity across all operating structures to maximize efficiency.
Headquartered in Munich, the BenQ-Siemens collaboration combines the best of German engineering quality and experience of the telecommunications sector gained over 150 years, with the lifestyle design expertise and speed to market of relative newcomer BenQ.
The partnership benefits from the companies’ respective expertise in R&D, design, customer reach and manufacturing and, most importantly, unites the cultural strengths of each company, under a ‘winning culture’ philosophy.
Together BenQ Mobile is a unique and competitive manufacturer that will innovate and lead the speeding development of mobile technology and digital convergence, taking advantage of an increasingly Asia-centered mobile devices business.
Jerry Wang, executive vice-president and chief marketing officer of BenQ Corporation said:
“We have now successfully united the two companies at an operation level and today marks the start of the next phase in our development - to engage consumers worldwide with the spirit and energy of our combined BenQ-Siemens brand.
“I believe we have the focus, resources and passion to invigorate the market in 2006, especially in 3G and that our strategy will lead to a sustainable and successful handset business that commands a significant share of the market.”
Supporting the repositioning of the company, BenQ Mobile has adopted an aggressive branding strategy and is committed to building a powerful, global consumer brand.
Rooted in the theme of exploration, the BenQ-Siemens brand reflects both sides of the company in balance.
Visually this is shown in the “squound” shape between the words ‘BenQ’ and ‘Siemens’; the union of a square (representing rational thinking) and round (representing emotional touch), and by the colour purple, which fuses the emotional colour red with rational blue.
Beyond graphics the spirit of the new brand will engage consumers that share BenQ-Siemens curiosity and excitement about the possibilities of mobile technology.
Clemens Joos, CEO BenQ Mobile, said “We want to excite consumers that share our belief in creativity and ability of technology to enrich everyday communication.
“The new BenQ-Siemens brand embodies this attitude and during 2006 we will be challenging expectations – not only in the products we launch but also in the way we communicate.
“We have a hugely passionate and experienced team driving this new company and we will build on the existing equity in both brands across the world, to move forward with confidence.”
Additionally, to mark the launch of BenQ-Siemens, the company unveiled the first three products to carry the new joint brand name – EF81, S68 and S88.
All feature slim design and premium metallic finishing but it is the EF81 in particular that provides an indication of the future roadmap: miniaturization of high speed UMTS technology in an ultra thin magnesium clamshell design.
BenQ-Siemens has committed that at least a third of its products launched in 2006 will be 3G and that there will be a significant focus on multimedia; every three out of four products featuring a music player or FM radio and every second phone offering a minimum 1.3 mega pixel camera. From a design perspective BenQ-Siemens will create elegant yet surprising devices that build on the respective expertise of the two companies.
BenQ is renowned for its award-wining design, scooping 115 international design awards in less than four years (2002-06) and Siemens has always had a reputation for ingenuity, introducing both the first slider and mp3-phone.
BenQ Mobile moves into 2006 with the aim to improve its bottom line quarter-on-quarter and achieve financially stable business by the end of the year.
Operators have reacted positively to the new roadmap, which features a high number of 3G and multimedia rich products, and many flagship handsets are now confirmed to be listed across key regions.
The new BenQ-Siemens brand launched today lies at the heart of the company’s aggressive business strategy and is underpinned by a competitive strategy, philosophy and product roadmap for a successful and sustainable future.
BenQ Mobile is an industry leader in wireless communication devices with a high lifestyle appeal.TradeArabia News Service
http://www.tradearabia.com/tanews/newsdetails_snRET_article100482_cnt.html
http://www.benqmobile.com/cds/frontdoor/0,2241,hq_en_0_11784_rArNrNrNrN,00.html
FTK...Buying opp @ $23? EnerCom's next week!
TBYH...Major cutomers include Siemens, CECT, and Panda Electronics (through 95% owned subsidiary Shanghai Sunplus)! They earned $0.14 a share for Q3 while saying Q4 is usually their strongest! TBYH had design contracts for over 180,000 units in January 2006 compared to 980,000 units for all of last year. They have relationships with "over a dozen of the largest players in the mobile device market arena" and anticipate the number of these relationships to double this year!
Here's the clincher..."The Company expects a significant business opportunity from the demand for 3G services in the near future. Few Chinese phone manufacturers even have 3G design capabilities, so we expect not only a major opportunity from local companies but also from the multinational manufacturers."
Because of the huge growth potential and sector, I think it's very fair to give TBYH a PE of 20.
Using a PE of 20 and basing it on TBYH's CURRENT 9 month eps of $0.25, you come up w/ a share price of $5!! That doesn't even take into account future quarters or growth!!
Hard to believe TBYH is trading in the low $3's.
We'll see what happens.
Holding, waiting, and accumulating.
TBYH earned $0.08 in the 2nd quarter and $0.14 in the 3rd quarter! The CEO mentioned that Q4 is usually their strongest quarter of the year. TBYH is trading in the $3.30's?? What is a fair PE based on the huge upcoming growth in 3G???
TBYH...T-Bay Holdings Reports 50% Earnings Growth
Thursday February 9, 10:11 am ET
- Net Income of $4,650,000 in Third Quarter, 50% growth compared to $3,090,000 in the Prior Year
EAGLE, Idaho, Feb. 9 /PRNewswire-FirstCall/ -- T-Bay Holdings, Inc. (OTC Bulletin Board: TBYH - News) today reported significant growth in earnings for the three months ended Dec. 30, 2005 as compared to the same quarter of the previous year. The Company reported net income of $4,650,000 or .145 EPS as compared to net income of $3,090,000 or .10 EPS for the same period in the prior year. Net income for the nine months ending Dec. 31, 2005 was $7,833,000 or .25 EPS as compared to $4,229,000 or .14 EPS for the same period in 2004. The management of T-Bay is excited with the operational results in Q3, and is optimistic to meet the $10.5 million net profit goal in financial year 2005- 2006.
"The fast growth in design fee revenue brought about higher profit margins and 40% growth in net income compared with the same period 2004 demonstrating that focusing on design fee revenue was the right decision. Our advantages in design field will attract more new clients in the near future."
Murry Zuhe Xiao, Chief Financial Officer of the Company said, "We are one step closer to the expected $10.5 million net profit goal. The sale of products in 4th quarter, usually to be the best in the year around, suggest we are on track to meet this goal."
He also mentioned the settlement of about $4.5 million Accounts receivable, which was used for purchasing new equipment. "It is common in design area that manufacturers delay the payment. Management of accounts receivable is very important, and we are paying more attention to it."
HRBN...What I really find interesting is that Harbin is now a supplier for Daqing Oilfield Company. (I take it they will be supplying Daqing with certain types of motors)....
Daqing Oilfield is the largest oilfield in China at present.
Daqing Oilfield Company Limited is the operator of exploration and development in Daqing Oilfield.
Main Business Activities-
- Exploration and development
- Oil refining, petrochemical industry
- Pipe transportation service
- Scientific research and technical service
http://www.daqing.com/english/
HRBN...Their net earnings will still be slightly higher than last quarters. An eps of $0.65 to $0.67 is excellent for an $8 growing company IMO.
I'm holding onto this one. Hope we hear more on their "NEW International partners" in the upcoming 10k.
BTW, I was just looking at Baldor and even though they are a much larger company, they earned $0.62 last year and trading at over $29.00 a share.
HRBN...NEWS! FINALLY!!...Harbin Electric Announces Preliminary Earnings for Fiscal Year 2005
Wednesday February 8, 9:00 am ET
HARBIN, China, Feb. 8 /Xinhua-PRNewswire-FirstCall/ -- Harbin Electric, Inc. (OTC: HRBN - News) announced today preliminary results for the fiscal year ended December 31, 2005. The company expects to report net income between $10.1 million and $10.4 million, or earnings per share between $0.65 and $0.67. Gross margins remain stable at near 50% and operating margins remain near 42%. These results will be discussed in greater detail in the company's SEC Form 10-K filing to be submitted in March 2006.
'We have exceeded our goals and are pleased with the strong finish we had to fiscal 2005,' said Mr. Tianfu Yang, Harbin Electric's chairman and chief executive officer. "The continued year-over-year growth of our domestic business in China and contributions from new international partners drove results. Our operations continue to increase revenues and maintain their favorable profit margins.'
'I am also excited to announce that Harbin Tech-Full Electric, our wholly-owned operating subsidiary in China, has recently been selected, through a request for proposal, to become a member of a group of suppliers for Daqing Oilfield Company,' continued Mr. Yang. Daqing Oilfield Company specializes in the development and drilling of oilfield and natural gas for the petrochemical industry. Currently, Daqing Oilfield is the largest oilfield in China.
'Recently, we have begun developing sample motors for the Beijing subway mass transit project. The mass transportation market remains a focus for us and this is the first step in what we believe to be one of our greatest opportunities in China,' stated Mr. Yang. The Chinese government estimates that, by year 2020, the total overall investment in municipal subway projects will exceed RMB800 billion (approximately US$100 billion). Several other cities have announced plans to adopt subway lines driven by linear motors. With a linear motor for propulsion, this new type of subway offers many benefits that greatly reduce the construction requirements of tunnels and track paths.
'These recent developments are symbols of the market recognition of our manufacturing capability and broad array of motor products. We have the capability to address a multitude of industries with our manufacturing capacity and product lines which include custom linear motors, micro motors, complete motor systems and other electric components. Harbin Electric will continue its focus in these areas as well as developing additional products,' said Mr. Yang.
Mr. Yang continued, 'In summary, 2006 will be a year in which Harbin Electric penetrates new industries, develops new products, and continues to gain share within current customers while expanding into the international marketplace. We have many initiatives underway which are making us a much stronger company than we were a few short months ago. We look forward updating you as we continue to make progress.'
SSKILLZ1, Re: The CNXT freeze...Cancel. Damage has been done. Maybe now it'll go back up, LOL.
Can I freeze CNXT BMO at yesterdays closing price of $3.36? If I can, go ahead and freeze it. First HRAY gets hit and now CNXT. LOL! So much for my pick 6.
BBC...News out this morning on AIM listing. It'll be interesting to see what happens after last weeks pullback...
Bodisen Biotech Completes Dual Listing of Shares on the London Stock Exchange AIM, Raised GBP 12 Million (US$21.36 million) in Strategic Financing with UK Institutional Investors, Bodisen Management Rings Opening Bell in London
Monday February 6, 7:30 am ET
NEW YORK--(BUSINESS WIRE)--Feb. 6, 2006--Bodisen Biotech, Inc., (AMEX:BBC, London AIM:BODI, website: www.bodisen.com), the first China based environmentally friendly bio fertilizer company listed on a US stock exchange, announced the successful completion of financing and dual listing of its US shares on the London Stock Exchange AIM market. Bodisen sold 1,643,836 (slightly over 9% of post offering outstanding shares) at GBP 7.30 (Approximately US$13) per share. No warrants or options were associated with this offering. Bodisen has a total of 17,764,836 shares outstanding after the transaction. Bodisen will primarily use the proceeds to expand manufacturing facilities and marketing to two new large farming regions of China which each has the similar manufacturing capacity and revue potentials as Bodisen's existing facilities.
Bodisen's shares started trading in the AIM market of the London Stock Exchange on the morning of February 6, 2006 with the company's management team ringing the opening bell in London. Global investors are able to buy the same Bodisen common stock listed both on the American Stock Exchange and in London.
Bodisen's successful dual listing and capital raise was advised by UK investment bank and Nominated Advisor Charles Stanley, reporting accountant Deloitte & Touche, global law firms Reed Smith and Jones Day, and Bodisen's advisors in the US and China - Wall Street firm New York Global Group and its Beijing based China subsidiary.
According to Charles Stanley, UK institutional investors showed strong interest in Bodisen's offering by oversubscribing for the offering several times. The Company's shares were placed with a limited number of international institutional investors outside the United States. Bodisen is the largest China based company listed on the London Stock Exchange AIM market.
Ms. Karen Qiong Wang, chief executive officer of Bodisen commented, "In our news release dated July 19, 2005, Bodisen announced its endeavor to seek dual listing of shares in London. The goal was to raise growth capital, expand our institutional shareholder base and potentially increase our product distribution to international markets. Since our listing on the American Stock Exchange in August 2005, we have experienced greater liquidity as well as strong institutional interest from global fund managers. In addition, due to our increased visibility, Bodisen has received many requests from US, European and Asian agricultural product companies wishing to potentially become Bodisen's product distributors for their local markets. While Bodisen continues to explore ongoing strategic discussions while experiencing strong sales and earnings growth in our core markets in China, Bodisen must be able to increase manufacturing and supply capabilities to satisfy overwhelming product demand from Chinese farmers. Bodisen branded products stand for high quality and higher crop yields, at similar costs to traditional chemical fertilizers. Bodisen's products will fundamentally change Chinese farmers' fertilizer use behavior from chemical fertilizers to natural fertilizers like ours. We are taking market share away from chemical fertilizer companies, including global industry players who have much longer presence in the Chinese market."
Ms. Wang concluded," Bodisen is dedicated to serving the best interest of our shareholders through solid revenue and earnings growth. During the process of our share placement in London, we were pleased that the entire financing was completed with a limited number of well known large institutional funds with a long-term investment focus. The financing was overwhelmingly received in London with strong institutional demand as evidenced in the total buy order interest. The total number of new shares offered is relatively small while the benefits from increased share liquidity could be significant."
In January 2006, Forbes Magazine ranked Bodisen the 16th fastest growing company in China
HRBN, (michael t)...
Here's the news on the automobile motor...
http://www.harbinelectric.com/download/news20050802-2.pdf
Here's the institutional buying...
http://www.nasdaq.com/asp/holdings.asp?mode=&kind=&timeframe=&intraday=&charttype=&a...
HRBN...New institutional buyer in for 123k shares of HRBN, (Greenville Capitol Management).
Institutions now own 1.7M shares (over 11.5%) of this little tight-lipped otcbb company.
The clincher will be if and when Harbin releases news on the automobile motor they talked about last Aug...
"Now that we have passed the TS16949: 2002 authentication, we will immediately enter the automobile motor and electric markets according to our company's growth strategy to implement the company's initiatives on acquisitions and development of various motors and electric products for vehicles. This will further expand our company's markets and bring even more value to our shareholders"
Numbers aren't due out until next month, but I'm hoping for an eps of $0.25+ for Q4, which IMO, will put the share price into double digits.
Holding, waiting, and accumulating!
TBYH, (n_c3 & abh3vt)...I think both TBYH & CNTF have very high potential for 2006. I have good holdings in both.
3G's the place to be!
NCNC...It says in the Arabian Access report that upcoming projects are expected in California, Washington and Canada... http://www.arabianaccess.com/Reports/NewCentury_report_final.pdf
We'll see what happens. Thanks for yesterday's responses.
NCNC...Been reading the NCNC posts and like what I've read. What really has me interested in this company is the fact the CEO mentioned they will apply for the AMEX or Nasdaq this year. Well $0.65 a share won't get them there (I don't think). I can't see a reverse split with only 10M shares outstanding, so the CEO must feel they're going to come in with strong numbers over the next couple of quarters, which will help get the share price up.
NCNC earned $0.04 a share last quarter with quote requests running at the highest level in its history. So I'm thinking current fair value should be around $1.60.
I'm in!
HRBN...The recent SB-2 filed by HRBN stated they've entered the International market. Out of 160 employees, 34 of them (OVER 20%) are in the research and development department.
They are currently working with Zhejiang University where they are jointly developing a Permanent Magnetism Synchronization Servo Motor. (Harbin's CEO, Mr. Yang, graduated from Zhejiang University with a Masters degree in Electric Motor Automation and Control.)
The only response I could get from the company is that they are hoping to break out their International orders in their 10k, due out in March. (They would not mention any specific customer). They are working on initiatives to become a stronger public company which should also be in the 10k. They also have plans to list on a higher exchange, but no time frame was given.
HRBN sure has been tight-lipped lately. Still think this is an excellent L/T investment based on growth. 2006 eps could come in at over $1.00 IMO, especially now that they've entered the International market!
Time will tell...We'll see what happens.
BBC closes over $21!! How about that!!! Feb 6 is the day they start trading on AIM....I think.
http://www.investorshub.com/boards/read_msg.asp?message_id=9216784
BTW, estimated eps mentioned in the previous post DOES NOT include 1 time gains. Including 1 time gains, eps could come in at close to $1.00 for the year.
We'll see what happens.
ARSD...The more I look at this company, the more I like it...
The SEC issue has long been resolved. It happened 3 years ago at a time when the Masane mining project had been delayed because prices for metals were insufficient to attract additional investment required to achieve production. (A link to the filing is pasted below for those who haven't seen it).
Over the last 9 months, ARSD's NET INCOME (after taxes) from CONTINUED OPERATIONS, increased to $10.9M compared to $1.7M last year! (Looks like they're doing fine w/o the mining since mining income = -$447k).
ARSD can easily come in w/ an eps of $0.70 for the year IMO.
What's fair value based on a listing on the OTCBB? $7.00 - $10.00? With that kind of share price, how about a private placement to help raise money to get the Masane mining project off the ground, especially w/ the price of metals where they are today?
ARSD is also working on forming a joint venture. They have until May '06 to start implementing a work program to build the mine....
From recent 10q....
MINING SEGMENT...
This segment is in the development stage. Its most significant asset is the Al Masane mining project in Saudi Arabia, which is a net user of the Company's available cash and capital resources. Implementation of the project has been delayed over the last five years because open market prices for metals were insufficient to attract additional investment required to achieve production. As world economy and metal prices have improved over the last year, investment viability has improved and steps are being taken to take advantage of the improved investment climate.
On February 23, 2004, the Company's President received a letter from the Deputy Minister of Petroleum and Mineral Resources of the Kingdom of Saudi Arabia stating that the Council of Ministers had issued a resolution, dated November 17, 2003, which directed the Minister, or whomever he may designate, to discuss with the President of the Company the implementation of a work program, similar to that which is attached to the Company's mining lease, to start during a period not to exceed two years and also the payment of the past due surface rentals. If agreeable, a document is to be signed to that effect. The resolution stated further that, if no agreement is reached, the Ministry of Finance will give the Council of Ministers its recommendation regarding the $11 million loan granted to the Company.
After discussions with the Deputy Minister, the Company President responded in a letter to the Minister dated, March 23, 2004, that the Company will agree to abide by the resolution and will start implementing the work program to build the mine, treatment plant and infrastructure within two years from the date of the signed agreement. The work program was prepared by the Company's technical consultants and attached to the letter. The Company also agreed to pay past due surface rentals, which totaled approximately $586,000, in two equal installments, the first on December 31, 2004 and the second on December 31, 2005, and to continue to pay surface rentals as specified in the Mining Lease Agreement. On May 15, 2004, an agreement was signed with the Ministry covering these provisions. If the Company does not implement the program during the two-year period, the matter will be referred to the Ministry to seek direction in accordance with the Mining Code and other concerned codes. The Company is currently in the preliminary stages of negotiations with a viable joint venture partner and feels that sufficient progress will be made by the May deadline to justify an extension of time, if necessary, on agreement with the Ministry.
Also from 10Q in regards to the $11M owed to the Saudi Arabian Government & the $947 owed to employees....
Regarding the note payable, this loan was originally due in ten annual installments beginning in 1984. The Company has neither made any repayments nor received any payment demands or other communications regarding the note payable from the Saudi government. By memorandum to the King of Saudi Arabia in 1986, the Saudi Ministry of Finance and National Economy recommended that the $11 million note be incorporated into a loan from the Saudi Industrial Development Fund ("SIDF") to finance 50% of the cost of the Al Masane project, repayment of the total amount of which would be made through a mutually agreed upon repayment schedule from the Company's share of the operating cash flows generated by the project. The Company remains active in Saudi Arabia and received the Al Masane mining lease at a time when it had not made any of the agreed upon repayment installments. Based on its experience to date, management believes that as long as the Company diligently attempts to explore and develop the Al Masane project no repayment demand will be made. Based on its interpretation of the Al Masane mining lease and other documents, management believes the government is likely to agree to link repayment of this note to the Company's share of the operating cash flows generated by the commercial development of the Al Masane project and to a long-term installment repayment schedule. In the event the Saudi government was to demand immediate repayment of this obligation, which management considers unlikely, the Company would be unable to pay the entire amount due.
With respect to the accrued salaries and termination benefits due employees working in Saudi Arabia, the Company plans to continue employing these individuals until it is able to generate sufficient excess funds to begin payment of this liability. Management believes it will be able to maintain sufficient cash to allow the payment of its obligations as any affected employees leave the Company's employment. Consideration is being given to establishment of a Reserve Fund to manage these obligations.
Here's the link to the SEC violation mentioned at the top of the page...
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0000950134%2D03%2D013841%2Etxt&FilePath...
PLUS...There could be a big payday coming for ePLUS if they win their patent infringement case against SAP. (ePlus only has approx 8M shares outstanding). I have no idea which way this will go, but ePlus did win their case against Ariba last year for $37M, and Ariba is a much smaller company. Yesterday SAP mentioned the lawsuit in their earnings report and it just seems a bit odd that SAP would state there's the possibility of adjusting their '05 numbers to reflect any accrual for this matter. Maybe they're working on an out of court settlement. We'll see what happens. The trial's not even suppose to start until March.....
"In April 2005, U.S. based ePlus, Inc. sued SAP in the U.S. for alleged patent infringement. ePlus seeks unspecified monetary damages, permanent injunctive relief, and up to treble damages for alleged wilful infringement. Based on information available as of December 31, 2005, and as of today management does not believe any accrual for this matter in our 2005 results is warranted. Management will be required to review the status of these legal proceedings at the time our final results are published in March and would be required to adjust the figures announced today if information becomes available at that time that would require management to reflect any accrual for this matter in our 2005 results."
http://biz.yahoo.com/prnews/060125/nyw030.html?.v=42
CHNG....The news tied to Bodisen will bring exposure to this company...
"Bodisen is confident that the China Natural Gas management team has the experience needed to continue to grow its highly profitable business."
Here's BBC's original PR on the China based natural gas company investment. It was in Oct '05.... http://www.bodisen.com/html/News/News20051008.asp
BBC / CHNG....Bodisen Biotech Announces 8.6% Equity Stake in China Natural Gas, Inc. (Stock Symbol: CHNG)
1/25/2006 8:00:02 AM
NEW YORK, Jan 25, 2006 (BUSINESS WIRE) -- Bodisen Biotech, Inc., (BBC), the first China based environmentally friendly bio fertilizer company listed on a U.S. stock exchange, announced today that one of Bodisen's strategic investment projects, China based Xi Lan Natural Gas Co. Ltd, recently became a public company in the U.S. under the name of China Natural Gas, Inc., (OTC BB: CHNG, www.naturalgaschina.com).
Bodisen owns 2,063,768 shares of CHNG, representing approximately 8.6% of CHNG which it purchased in October 2005 for approximately $2.85 million. One of the key components of Bodisen's compound fertilizer products is urea, which is manufactured through natural gas.
Ms. Karen Qiong Wang, Chairman & CEO of Bodisen commented, "This strategic investment allows Bodisen to potentially benefit from lower raw material costs as China Natural Gas becomes a supplier of natural gas to some of the largest urea manufacturers in the Shaanxi province. Bodisen is confident that the China Natural Gas management team has the experience needed to continue to grow its highly profitable business. China Natural Gas' recent completion of $10.4 million in financing with institutional investors is a testament to the strength and scalability of its business model and its potential as a public company in the U.S. capital markets. Bodisen is pleased to own a significant equity stake in one of China's best run natural gas services providers."
Mr. Minqing Lu, CEO of China Natural Gas commented, "Having completed our recent equity financing with a syndicate that has U.S. and international institutional investor reach, we are now able to move forward with our investment in the construction and acquisition of retail compressed natural gas filling stations in the Xian marketplace. Through our partnership with Bodisen, we will both be able to grow together in China while still maintaining each company's individual focus on producing solid results to enhance shareholder value for our investors."
ARSD, (researcher59)...If ARSD moves to the OTCBB, there's no telling where the stock price will end up. One thing's almost for sure, it'll go up based on earnings. It sounded like ARSD's CEO was straight forward with you so I'm anticipating the move off the pinks. I think it was wadegarret that had a similar conversation with him also. We'll see what happens.
BBC...New 52wk high...InPlay: Bodisen Biotech expects increased revs in 2006 and beyond, says China eliminates agricultural tax (BBC) 15.94 : BBC announces that the Chinese gov't recently eliminated an important agricultural tax that had been levied on Chinese farmers since 1958; Chinese farmers have traditionally been paying on average a 15.5% agricultural tax on farm output. Co says getting rid of the tax will significantly increase farmers' income across China, giving farmers incentives to purchase high quality, higher crop yield environmentally friendly fertilizers from Bodisen. Co says its sales channels have already seen positive responses and increased orders from end user farmers. BBC says it is on track to achieve record earnings growth in 2006 and maintains its position as one of the fastest growing companies in China.
ARSD...Inching up. Still think this is one of the most undervalued stocks mentioned here. Sure would like to see ARSD come off the pinks by Feb. Earned $0.26 last Q w/ no one time gains. This was taken from ARSD's latest 10Q....
The Petrochemical segment completed a de-bottlenecking project on the solvents unit during the later part of the first quarter of 2005. The project added two new, larger fractionation towers and divided the solvent production into two trains. Total capacity of the unit was increased by approximately 30% and functional by March 31, 2005. The Company experienced typical mechanical reliability issues since the startup with the increased volume. These issues were resolved as they arose and the Company is generally satisfied with the performance of the additional equipment. Consistent operation at full capacity of the expanded equipment was attained in the early part of the third quarter 2005. The project cost approximately $1.5 million and was accomplished using current maintenance department employees. No reportable injuries were recorded during the effort.
Toll processing fee revenue for the third quarter of 2005 of approximately $1,212,000 represents an increase of approximately $245,000 or 25% above the fees for the same period in 2004. The toll processing customers are very active and remain on long-term contracts. While there are some fluctuations in tolling volumes handled, toll processing has developed into a stable business and the Company intends to continue to develop opportunities when available. Toll processing fees are expected to rise in the fourth quarter of 2005 as expanded facilities for a major customer were completed in October 2005. The revised contract with this customer will generate additional processing fees and contains a capital repayment feature. The project began operations on schedule (considering the hurricane caused delay) and is producing high quality products in the volumes requested by the customer.
Also, this was released out of China this morning. Hope it's a sign of good things to come for ARSD....."The official noted that upstream industries, such as petroleum and petrochemical industries, registered growing profit by a large margin, due to the ever-increasing oil price in the global market."
http://en.chinabroadcast.cn/855/2006/01/24/262@45707.htm
BBC...Organic road to riches for China's first lady
Karen Wang Qiong's bid to raise money in London is built on a mountain of minerals and China's aim to be self-sufficient in food, writes Frank Kane
Sunday January 22, 2006
The Observer
She is something of a rarity, Karen Wang Qiong. The only woman chief executive of a major Chinese company, one of the few female multi-millionaires in the booming country, and a crusader for ecologically sound business in the great dust-bowl of pollution that is the Chinese economy.
So I didn't quite know what to expect as I made our appointment in London's glitzy Park Lane Hilton last week, where Wang is staying while she meets potential investors in her company, Bodisen. Images of the Empress Cixi (the last adult representative of the Manchu dynasty) played in my mind for a while, mixed with stereotypical Suzy Wong glamour, maybe?
As it turned out, I was not far off. Wang has an imperial loftiness in her manner, and, like the empress, has succeeded in a world dominated - almost to the point of exclusion - by men. 'Be a real man - that is how to succeed in Chinese business,' she says, with the finality of a decree from the Forbidden City.
But she looks very much like a modern Chinese lady riding the crest of the country's economic boom, with all the trappings of the post-punk Shanghai-chic mode: distressed hairstyle, polka-dot top and designer spectacles - the very height of fashion in the ostentatious world of Chinese haute couture. All that is appropriate for a woman who is worth something approaching $70m (£39m) through her holding in Bodisen, and who has made it to the glossy rich-lists of the American business magazines. (Forbes recently placed her company at number 16 in its Top 100 list of Chinese growth companies).
But her style also masks a serious entrepreneurial career in the less-than-glamorous world of organic fertiliser, and a determination to extend modern, ecology-friendly farming methods in the world's most populous country, where throughout history the need to feed ever-increasing numbers of people has put a great strain on the land. 'The government wants to reduce the polluting effects of old farming methods, and we can help do that,' says Wang.
The authorities in Beijing have a bolder long-term aim as well. They want to make China self-sufficient in food. The country has been able to feed itself throughout long periods of its history (though always prone to flooding, drought and subsequent famine - some 20 million Chinese are estimated to have died in 1959 in a man-made famine during Mao's Great Leap Forward), but agricultural production has not been able to keep pace with the population and economic growth of recent decades. China is a net importer of food, including, ironically, rice.
Farmers have traditionally tried to increase their crop with modern nitrate-based fertilisers, manufactured according to Western agri-business formulae, but this has had the inevitable and damaging side-effect on run-off and soil erosion. As only 15 per cent of China's huge land mass is arable, the problem is now critical. Just last year, Beijing abolished all agricultural taxes, in an effort to stimulate farm efficiency and stop the drift away from the land and into the booming (and polluting) cities.
Wang's background gave her some unique insight into these problems. She graduated in 1986 in agronomy, and later did a masters in environmental protection. After an early career in agricultural import-export, she was in the right place to catch the first wave of the modernisation of Chinese business.
'The government began to reform state-owned enterprises and encouraged employees to start their own business, so I began a liquid fertiliser business,' she says, through an interpreter. (Like many Chinese entrepreneurs, she has not felt the need to learn English, though her aides say this may change.)
She became president of the Yang Ling Chemicals Company, based in the town in Shaanxi province where Bodisen currently has its headquarters. Shaanxi, bang in the middle of China's great bread-basket area between the Yellow and Yangtse rivers, has traditionally been a dynamic farming economy, and Yang Ling was chosen by the government as an area for research and development in modern farming methods.
It was here, too, that she met Chen Bo, the 48-year-old president of Bodisen who is credited as a great innovator and motivator within the company. They were original shareholders of the new Bodisen group, formed in 2001, which listed its shares on the Amex market last year, and they still have 24 per cent each.
The next phase of the company's development is to list its shares on the London Alternative Investment Market (Aim), raising £10m of new money to upgrade its facilities in Yang Ling, and invest in new manufacturing and distribution. Hence the whirlwind round of meetings with investment institutions in the City over the past few days, leading up to the beginning of trading on 6 February - a date which is, apparently, auspicious for new enterprises, according to Chinese astrology.
She is bringing her company to Aim because, she explains: 'There is a lack of funding for smaller-sized companies in China. There is not much access to capital from the banks or sophisticated markets unless you are a large company.'
Wang and her entourage were obviously feeling the pace of all those back-to-back meetings when we met last week, at the end of another long day explaining to the financiers exactly why they should put their money in a fertiliser company from the Chinese boondocks. What exactly is Bodisen's unique selling point?
'We produce fully organic products, designed to maximise, in a non-harmful way, the efficiency of the land,' she says. All very well, but what are they made from? If they are organic, there can only be one main source, I think to myself, but find it difficult to raise this tastefully in the lobby of the Hilton hotel in mixed company. 'They are not manure,' she says, obviously reading my thoughts via her interpreter. 'Fertilisers can come from animal products, fishmeal or lots of other natural sources, but we have found some special constituents.'
She and her interpreter lean forward on their seats, as though preparing to share a secret with me. I shuffle forward too - I am about to hear the agri-business equivalent of the formula for Coca-Cola.
'Fossilised mineral deposits,' she whispers. 'We have a mountain of it near the factory, Tong Chuan mountain. We have the rights to exploit the mountain for 100 years, and there is enough there to keep all the farmers happy for as long as that,' she says with a little smile of pride. There are grins of satisfaction all around her entourage.
The stuff from Tong Chuan (presumably some sort of prehistoric potassium deposits) is mined and injected with other, eco-friendly chemicals that encourage bacteria to develop in the soil. 'It even reverses the damage that's already been done,' says Wang triumphantly.
From there, Bodisen products, running to some 60 lines, are sold to a network of 150 wholesalers, and then on to individual farmers. With a farming population of 800 million, the Chinese market is potentially huge; the export possibilities have not been explored yet.
If Wang gets her £10m from the Aim market - and the reception she has received in the City suggests it is a comfortable target - she will use it to modernise the Shaanxi facilities, which employ 530 people, and open two new centres, in the north-eastern province of Heilongjiang and at Xinjiang in the north west. Both are huge, but under-exploited farming areas, and their climate would represent a new challenge for Bodisen.
But Wang is certainly not shirking the challenge. She sees herself as a standard-bearer for women in Chinese business, and would like to encourage others to follow her example. 'It takes more determination for a woman to succeed in business in China. Men have to be focused and forward-looking and give 100 per cent all the time. Women have to do all that too, but have to give 200 per cent to be successful.'
The CV
Name Karen Wang Qiong. 'Karen' is her chosen English name
Born 1965, Wugong Xian, Shaanxi province, People's Republic of China, to a farming family
Family divorced, with two children at college in Britain hoping to go to Cambridge University. 'She values British education,' says an aide
Job chairman and chief executive of Bodisen, the fastest growing agri-business company in China. It is listed in New York with a market capitalisation of about $240m. In 2001, she was named China Newspaper Association media personality of the year
http://observer.guardian.co.uk/business/story/0,,1691888,00.html
CNTF...TD-SCDMA is now an officially backed 3G standard in China. The announcement was made on friday.
Might want to put CNTF on the watchlist. China TechFaith (CNTF) is a profitable growing handset designer based out of Beijing, that supports all major wireless standards (3G) including TD-SCDMA....
"Now that the government feels TD-SCDMA is ready for prime time, licensing is expected to begin swiftly, and Chinese companies are surely swooning with delight as their balance sheets are about to reap the benefits of their government's handling of the technology battle over China's 3G buildout."
http://rcrnews.com/news.cms?newsId=25392
MORE ON TECHFAITH from businessweek.com...
TechFaith's models are all over China -- and, increasingly, the world
Like so many other young Chinese entrepreneurs, D.F. Dong could practically smell the opportunity before him. As a sales exec at Motorola Inc. (MOT) in Beijing three years ago, he saw Chinese cell-phone makers on the rise, but he found their handset designs uninspiring.
So in July, 2002, he persuaded 13 designers and engineers from Motorola to quit and set up China TechFaith Wireless Communication Technology Ltd. (CNTF), a shop that would develop ready-to-build phone designs for the legions of domestic players joining the fray. "Chinese branding was getting stronger, but the research and development was mostly imported from Korea," says Dong, now 34 and chairman of TechFaith. "I knew I could make money with an R&D company."
There's little doubt that the opportunity was there. By the end of 2002, Dong had signed up three Chinese companies and had 100 people working for him. Today, TechFaith employs 1,800 designers and hardware and software engineers, occupying four floors of an old TV factory in a grubby industrial district near Beijing's Fourth Ring Road. The company has developed more than 100 handset designs for 9 of the top 10 Chinese manufacturers as well as Japan's NEC (>NIPNY), Kyocera (KYO), and Mitsubishi. While many of TechFaith's phones are bare-bones models, the company has also made handsets that play videos and MP3 songs, take photos with 3-megapixel cameras, and include the latest third-generation (3G) technology. Profits, meanwhile, are expected to jump to nearly $39 million on sales of $90 million this year, up from earnings of $18 million on revenues of $47 million in 2004, according to investment bank Kaufman Brothers.
There's just one wrinkle in Dong's happy tale. After opening at $16.25 in an initial public offering on NASDAQ in May, TechFaith's share price traded sideways for three months before tumbling to a recent $9. Investors, it seems, are concerned that China's handset market is due for a shakeout, which could trim the ranks of TechFaith's customers. Another potential worry is growing competition from the 50-plus Chinese rivals that provide handset-design services.
JOINT VENTURE
Despite the stock swoon, there are plenty of believers in the TechFaith story. Qualcomm Inc. (QCOM) and Intel Corp. (INTC) own stakes in the company. And TechFaith and NEC Corp. have a joint venture that last year designed about 20 phones for China and is now developing models -- including 3G handsets -- for international markets. "TechFaith is the leading design house in China in terms of hardware development," Koji Yamasaki, an NEC senior general manager, wrote in an e-mail interview. Kaufman Brothers notes that while other independent Chinese handset designers have so far made only GSM phones (the largest global standard), TechFaith also uses Qualcomm's CDMA technology and is far ahead in 3G. Kaufman analyst Brian White says TechFaith has twice as many engineers as its nearest competitor -- paid $1,000 a month on average, about 10% of what engineers get in the U.S. And, he adds, the company's operating margins of 46% are among the best in the business. "The future for TechFaith is bright," White says.
Dong, meanwhile, says he's not concerned about flagging sales at Chinese cell-phone makers. "If they're losing money, they'll have to outsource to us," he says. But he knows he must expand beyond China to keep growing. Today 70% of Techfaith's sales are to NEC and other non-Chinese customers, although much of that work is on handsets destined for China. So the company is negotiating for design jobs from four of the world's top six mobile-phone makers and this year is opening sales offices in Japan and the U.S. If Dong can successfully break into international markets, TechFaith's future may be bright indeed.
By David Rocks in Beijing
Source: www.businessweek
OCTOBER 24, 2005
BBC...Bodisen Biotech Admits Trading On AIM
(BBC will be the largest Chinese company listed on AIM)
January 19, 2006 07:11 ET (12:11 GMT)
LONDON -(Dow Jones)- Bodisen Biotech said Thursday that it plans to admit trading on U.K. Alternative Investment Market.
Detail of the initial public offering yet need to be confirmed. Bodisen is an independent USA incorporated company listed on AMEX which is engaged in developing, manufacturing and selling organic fertilizers and pesticides in the Peoples Republic of China.
The company's nominated adviser and broker is Charles Stanley & Co..
END) Dow Jones Newswires
Copyright (c) 2006 Dow Jones & Company, Inc.