I am updating my staus.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
CLEM incremented rev and earnings estimates - delay 1 month on opening new plant because delay on getting plants equipment (if I read that right) - should be open around about now according to PR. Somewhere around 32 cents for first half of year. New plant is being opened in stages but will double capacity by March 2011.
Much better bargins out there but I just like the companies metrics.
rich
When they originally started forensic investigation an analyst commented that company weren't hopeful that they were going to hit July 15th deadline. Given that jobs tend to take longer than expected - guess what? They will probably miss it.
Further, since Sabine Oxley rules the auditors have to get any documents exactly right or its grounds for being sued - so given its already being sued I'm guessing no one wants to say anything until everything is tripple checked. (Though laughably the last PR had mistake about CFO - perhaps quadruple?)
I'm figuring an extension or pink sheets. Only thing that really matters is whats going to be in 10-Ks and 10-Qs and the ship sea-worthynesscan then be tested. Everything else is letting off steam.
rich
Bid rule makes sense... anyone can buy at any price in last minute. Bid support is more difficult to fake.
Acceptance - so you think the for 8/A thing isn't proof of acceptance then?
cheers
rich
CCME And my biggest reason - and this is where I probably have to disagree with most of you. I have an issue with the business model. I do not believe that streaming video advertising on buses would work in Europe or the U.S. - people would not accept it and advertisers don't want to be seen merely as an annoyance
I live in UK, we dont even like adverts on our TV programs, however, they have tv "news" program on repeat on the trains. I do find it annoying and go and read in the "quiet area". However, I am a tiny minority nearly everyone prefers to be in the TV sections of the train (either they want it or dont care - never asked). My impression is that the bussines model works very well - celebrities and gossip remains popular with the travelling public.
Anyone have a different experience?
rich
CNAM - I'm sure someone will but at the earliest IR opens 9am tues and trading begins at 9.30 - will they get in contact with CEO on China time? Dunno... worth thinking about in case no formal answer available.
Even when answer available we still need to have sanity test on the reply.
rich
CNAM - Very odd - two ideas off top of head - so probably wrong...
1) They were exercised was last day of quarter - though it was optional from 14th of April. Did he agree to option those earlier and it just went through on last day of quarter?
2) Are Chinese citizens restricted in buying shares, in any way, on US exchanges? I remember UTA boss bought shares at higher value than was on exchange but cant remember why.
rich
I stated what I thought I knew with language that showed I was unsure. I then asked what Viking actually knew. My view was vague as I thought that's all I needed but now people are going into specific words so it's time to look in more detail.
In otherwords I was confused with the on going discussion and was asking what other people thought. I certainly wasn't "making things up".
rich
Surely the word "treatment" is key? After that all the other words are secondary.
rich
Just wanted to point out that Elaine probably didnt tell you the whole truth about the ad issue.
My impression was the language used absolutes (you will be healed, say) when, unsurpringly, people react differently and help isnt certain (you may benefit, say)
Is that wrong? What was the whole truth?
rich
BSPM - he looks better CFO purely from experience of BDO and E&Y and the fact that he works in China vs America.
She resigned at the end of a quarter so, on the surface, it looks like some orgaisation has gone into the departure.
<shrug>
rich
Previous CFO:
Elaine Zhao has been our chief financial officer since July 1, 2007. In 2005, she founded ELZ Accountancy Corp., a Los Angeles based accounting and financial advisory firm, and she has served as its president since that time. Ms. Zhao continues to work for ELZ. In her work with ELZ, Ms. Zhao has served clients including privately owned and publicly traded company in various industries and has worked with banks in financing small businesses. Ms. Zhao has held Series 7 and 66 licenses as a broker at a national brokerage firm and is an independent financial advisor. From October 2000 to October 2005, Ms. Zhao worked as accountant and auditor at Liang & Company Accountancy Corp. in Los Angeles. Ms. Zhao is a co-founder of the Southern California Chinese Professional Association. She holds an MS in Finance from the Kelley School of Business at Indiana University and is a Certified Public Accountant.
Yup, there's no problem with marketing providing the explain whats going on. Essentially, people can do the sums and get expectations that are ahead of the curve. So, when the numbers come out there is disappointment almost locked in.
We can't underscore to management enough about dilution. The rap Chinese firms are getting is diluting machines. Cash flow and EPS growth is what the market wants to see CNYD and SOKF have held up very well over the last quarter. SO, BSPM have a great product and we just want them to sell it first - let the earnings and, hopefully, pps and cash increase before worring about new projects and any additive dilution.
We saw how popular SKBI's choice to increase dilution before finishing vaccine project was to the market - basically a license to short. I'm prepared to wait for the SGA to be pulled back and earnings flow through provoiding they are also patient with their growth strategy!
rich
PUDA - so this is nothing new but just showing that they are progressing with the mines (Da Wa Coal & Guanyao Coal)?
My understaning from the, confusing, conference call is: PUDA awaits the announcement that they have permission to get digging from the government.
rich
CCME - right, independent good news. Thanks Rames eom.
rich
As you say this company percentange of SGA is a big unknown. Revenues have shown continued growth and increasing profit - the only worry seems, bizzarely, to be management generated and that is: what % SGA they are going to come out with next? It's totally out of the investors hands - and hence a legitimate reason for fear in the stock.
What management need to show is:
What are their aimed advertising costs for the coming quarters. They did an excellent job of confusing the last CC when they said contradictory statements
1) They were going to increase SGA in proportion to their revenues
2) They were going to hit their net income targets.
It doesn't even matter if they want to increase SGA for this year and the back it off next year. All they need to do is clearly transmit the plan to investors.
Personally, what I want to see is them looking to make company cash flow positive and a clear focus on putting their money on high margin business - I would like them to underline they have no interest in diluting the stock at $3 (I know there was email to effect but I want it repeat on CC).
rich
Yup, I agree with Ryan, it makes you look a chump if you give it $20 and it remains $8. Even if we're so fortunate to end up in the double digits then a good earnings report can allow them to upgrade - this is a "show me" market after all.
rich
CCME - Global Hunter - what's their reputation then? I'm ignorant about Global Hunter. What we got there? An incremental boost in interest and reputation for CCME.
It's good for CCME managment as it validates what they've been saying that they've been in "discussion" with insitutions.
We've had other coverage but your saying this was paid?
rich
ECRI on Chinese Economy
- Basically, seeing short term slowdown but longer term indexes only show slowing of growth.
- Manufacturing Index & Export Index showing short term slowdown
- Housing Index seemed steady to positive.
http://www.bloomberg.com/video/61174796/
Anyone know how to learn more about indexes without paying large amounts of $$$?
rich
China Daily reported, even later than AP , that CCME added to Russell.
Wasnt expecting the headline in prominant part of China daily business section. Interesting that they bothered.
http://www.chinadaily.com.cn/business/2010-07/01/content_10046175.htm
rich
China shipping container to-add surcharges on cargo-box shortage
Maersk has increased orders for new containers and re- activated vessels parked during the recession to help move empty boxes from the U.S. to Asia. Containers are used to ship manufactured goods such as furniture, clothes and auto parts from factories in China to shops in the U.S. and Europe
http://www.chinadaily.com.cn/business/2010-06/26/content_10024260.htm
rich
elainezhao@biostarpharmaceuticals.com
From PR...
http://finance.yahoo.com/news/Biostar-Pharmaceuticals-Inc-prnews-3378386452.html?x=0&.v=18
rich
They were dealing with one large distributor worth 30% of revenues and contractually locked in with them...they would have trouble leveraging any control over the relationship.
Maybe good, maybe bad but it's a barrier, now removed, to improve the situation. I know CGA proposed removing the worse 10% of it's distributors each year - I don't see why they can't focus on improving their distributors terms as each contract comes up for renewal.
So, long term it's the right choice for the companies growth.
rich
Renminbi deserves depreciation
Your not alone in this view - this was originally in FT.
http://www.chinadaily.com.cn/opinion/2010-06/22/content_10000565.htm
rich
YONG - the problem with YONG is that it's growing revenue at 50 - 80% Y/Y and if they can't improve the cash flow they are going to need more working capital. This is an attempt, which I hope will be sucessful, to improve cash flow.
Given they are a few weeks from announcing record revenes and net incomes I would prefer that the stock appreciated before being used in such a manner.
They certainly telegraphed that they were looking at distributors in the last CC but thought cost seems a little higher than expected. That said, if they continue to grow, as I think they will, over the next 2 years at this rate then, as said, for cash flow reasons it's is a required purchase.
The proof will only come when see Q3's receivables / inventories I guess. Last year they had $43M in receivalbes in Q3 - and revenues of $30M - this can't continue and they have to increase cash cycle. They collect most of them in Q4 and this years Q1 but doesn't help them during Q2 and Q3 of this year.
rich
Ah, well, good news for you there Cous - there FY was end of april so they have until mid July.
rich
LPIH - well, stating the obvious... they are building a gas piplines. However, assuming that someone built an oil pipline then they couldn't sell it without a gasoline permit that LPIH had.
Even if they did have a permit the point of LPIH is that they have a reserve capacity. If the pipline halts for one reason or another then the flow stops and the coal plant, or whatever, has no oil and it can't function. LPIH is offering a business critical reserve that, come what may, is available and keeps your company going.
LPIH has pipelines going from their base to their clients - perhaps they could do with having a pipeline into their base?
rich
CCLWF - this 100M in cash. Do we know why they need so much?
From memory they need 20M this year and 20M next year to add new product lines. They are cash flow positive and have around $20m in the bank - they would have made $3M in cash but for the final payment need for the new goan facility.
So, the thing that worries me is that they have some requirement for cash (perhaps futher product lines?) and can they be patient for the share price to represent the value of the business rather than diluting, like some trigger happy management I could name, while housing in China doesn't have investor confidence?
The alternative was that they issued too many shares and warrants in the first place and don't have imminient need of the cash?
Anyway, they have shown savvy in buying warrants and I wonder if they can keep these smarts up?
rich
LLEN - for all the dilution LLEN has done they have maintained Y/Y EPS growth - they are cash flow positive and had $15M in the bank + money from a mine sale.
I would be expect it to be positive to EPS growth but the market is going to have to guess while they sort this out and yes that probably includes issuing shares at some point.
Previous deals have been leased deals which work out very well for LLEN shoreholders but it's not a given - we await details
rich
NEP - thats rubbish situation to be in. "Rubbish" is as strong a word as I will use on this forum
rich
NEP - the only good thing you can say is that we know we are going to get a 10-K and a 10-Q (s) before trading on AMEX. Is it possible to be end up pinksheet and start trading while awaiting the SEC filings? Gulp, I hope not.
They have a self styled forensic auditor as CFO so we should know where we stand then. I don't see why I should disbelieve his conclusions, whatever they will be.
As a shareholder I want them to get it right first time but if I was an option holder I would want as much information as possible before deciding to excise options - assuming they are in the money. Tricky situation whatever happens and rumour is it could be another month yet.
rich
LLEN - well as a shareholder, I'm totally up for that, having taken, along with many here, a kicking from all thinigs Chinese is 2010 I could do with some Weeeeeee. Suspect they need to give some purchase details for all of the coming bump to stick.
As you say the wording is strong.. compared to Hon Shen where they were just "excitied" [1]. It's a postive move and the volumes are a step up - as they promised during their last presentations.
Dickson Lee, Chairman and CEO of L&L, stated: "These latest acquisitions are a continuance of our planned expansions for fiscal year 2010. We are excited to expand our relationship with Hon Shen as we work to improve production, operational efficiency, and environmental and safety standards at the Hon Shen facilities. The planned acquisitions will further our goal of becoming a vertically integrated energy company serving China's high demand for energy and coal." [1]
I also like fact they are developing the facilities so have a chance to get things done right first time.
Don't want to sound like wet blanket - more positive but keeping feet on ground and won't complain about any updraft.
rich
[1] http://www.prnewswire.com/news-releases/ll-international-announces-definitive-agreement-to-acquire-hon-shen-coking-operations-67170302.html
LLEN - I've got them down as doing half million tonnes of coal (thermal and coking) and 200K of washing. These are being upgraded to 900K and 600K for mining and washing respectively. I say, got them down because there is so much going on with the company I'm not sure I have exact numbers - I'm waiting for 10-K. I know the upgrade for washing was meant to be done by 1st June.
Aquistions aren't a slam dunk "Hon Shen Coal" from as much, as I can tell had poor margins, which was why they sold them again - they alluded to this in CC and the 10-Q's breakdown of coking looked disappointing (I think they mixed both coking mine facilities together so I couldn't distinguish). I hope they learn from that mistake and get this one right.
Extra 750K coal and 900K washing looks great and while the 1 million tonne coking facility won't come on line for 16 months so from mid term pps will be heavily discounted on new coking facility benefit but it means that LLEN are doing what they promised which is buying coal firms that need investment which means better negotiationing position.
I guess it comes down to what deal they get? Should be good for this FY year 2011 and great for the long term investor in FY 2012. I wonder if this changes their 2011 estimates or was it already allowed for?
rich
We've seen it only takes a few days above pps to uplist; we saw with BSPM and SCOK. My comment was really "we aint seeing a Form 8 today" - next week..., then perhaps.
The pps doesnt stop the application but we need to pass all the criteria before uplist.
If management hit their targets - which they seem to be exceeding so far and dont dilute at this level - likely as they seem to want to get the new plant functioning. Then I'm sure most on the board is happy to wait out the short term pps fluctuations.
rich
The pps was below 2 until today... Don't think it's possible. But hey, I won't complain.
rich
I didn't ask - he didn't venture anything.
We know that they've handed in the paperwork and I don't think they can say anything beyond that.
rich
LPIH's medium term plans
I seem to remember that LPIH doesn't have any plans beyond just running the company this year? I think this is more than enough! We just want the new plant to be a success - earnings grow and stock appreciate to something like it's actual value before they consider anything else.
I seem to remember from a CC that our mate Jim said that they weren't going to do anything else.
Just chatted to IR Alex - they concurred - but they equally could just of told me what I wanted to hear.
Anyone have another source of this information?
rich
How uplisting works (Pearson article)
Pearson worte interesting article on uplisting and it might be informative to some folks on the board.
Imp points
1) The bid price is the critical factor not the last trade
2) It can only take a few days above the listing requirement to uplist - not 30 days etc that have been bandied about.
http://www.thestreet.com/story/10725448/1/how-an-uplisting-works.html
rich
SSE - you have to laugh - all the asian indexes are up except SSE - equally obvious is that unless China is economically sucessful the world indexes are going no-where fast. Someones wrong.
rich
SKBI - see previous post - I was confused by the blanks everywhere (I haven't looked at many S1s) more than a comment on the chances of using the filing.
rich
SKBI - worked it out - lots of blanks in the S1 filing which confused me - but headline number is near the top.
rich
SKBI - so thats a potential dilution but nothing fixed yet? Or has everything been settled?
rich