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Hey MB, got more EBIG at .185 (another 20k)...loving it! tuna
Chinese SOKF 4.15 +.40 has only about 17mil. OS w/FL of 4-5mil. and having a huge day with it's 3rd highest volume in the past 24 months!! Love this fast growing company that netted .31 in the last 6mos vs .18 the previous year! Have to believe with their growth they'll come in with maybe somewhere in the .70 area for the year which makes it a forward PE of about 5-6!!! Awesome imho...tuna
Yeah MB...I don't need to worry about that wall...long and strong in EBIG for months to come!! It will be fun to get into the .20's though and then .30's, .50's .80's a buck+...etc!! Haha!!
Make it SOKF 4.19 +.44 now wick!
Hey fabian...little SOKF 4.19 x 4.25 now w/last 4.10 +.35 HOD...like it! tuna
And SOKF 4.10 +.35 bid 4.19 x 4.25 now wick on 3rd highest volume in the past 24 months!! Look for a break out above 4.45 52wk high soon imho...also company presented today in Beijing and presents again within the next 10 days or so!! tuna
SOKF 4.10 +.35 new HOD on huge volume for it!! Already the 3rd highest volume in the last 24 months!!
BGMO .16 +.045 shows a PE of 7.62 and just 29.29mil. OS!!! This huge contract win announced today could add a ton to the top and bottom line...seems worth much more imho...tuna
Chinese SOKF 4.05 x 4.09 only about 35k shares from it's 2nd highest volume day in the last 24 months!! Also 6mos. earnings of .32 net income vs .18 previous year make this a real buy for short and long term imho...tuna
Chinese SOKF 4.05 x 4.09 on what may be it's highest trading volume in a single day in the past 12 months!!
Btw fabian, looks like SOKF may have it's highest trading volume in a year today possibly...I think around 160k is tops...and we're at 120k now! tuna
LOL!!! Thanks fabian! I hope SOKF breaks that 4.45 high for us both....and I couldn't ask for more than you're very generous offer either...all the best in all your trades!! tuna
Chinese AMCF 7.97 looking cheap again under $8 here imho..tuna
SOKF 4.05 +.30 HOD on 3rd biggest volume of last 12 months!!!
BMGO .17 x .175 highest bid/ask on the day w/huge contract win news!!
Added more Chinese SOKF at $4 they earned .31 vs .18 in their first 6mos. and certainly believe they can do better than .62 for the year based on current growth...seems too cheap imho...tuna
Also added another 20k BGMO .17 +.055 here...
Put in for 5k more SOKF at 4 partial fill so far!
EBIG .19 +.04 at HOD also...
SOKF $4.00 ask getting hit! Earned .31 vs .18 fully diluted earnings in the first 6mos. Worth way more with the kind of earnings and revenue growth here imho...hope to see a break of the $4.45 52wk high sooner than later! tuna
Make it BGMO .175 +.06 NEW HOD!
BGMO .17 +.055 HOD volume coming in on HUGE contract win news!!
CHOP 7.45 +.35 getting closer to HOD...
EBIG .18 +.03 last day to get in on dividend shares is buying Wednesday as you need to be a shareholder of record on Mar. 15th I believe...tuna
Chinese CHOP 7.40 +.30 reporting earnings Wed...HOD 7.56 so far!
WANG, I got BGMO .16 +.045 on massive contract news:
Bergamo Acquisition Corp. Announces Project for Lebanon
Lebanese Government Providing 100% Financing to Guarantee the Performance of the Project
Press Release Source: Bergamo Acquisition Corp. On Monday March 8, 2010, 9:20 am EST
LAS VEGAS--(BUSINESS WIRE)--Bergamo Acquisition Corp. (OTC Pink Sheets: BGMO - News) is pleased to announce a new solar power project for the Republic of Lebanon. This week Bergamo key management will travel to Lebanon to conclude the Letter of Intent ("LOI") with the Government of Lebanon. Attending this meeting on March 11, 2010 for Bergamo will be Salim Chamdia and Haseeb Fatani, both Vice Presidents of Bergamo E & A. Attending the meeting for Bergamo subsidiary Suntrough Energy, Inc. will be Fazal Chaudhry. The total cost for the project will be USD $500 Million. Under the terms of the LOI, the Lebanese government will provide 100% of the total finance package. Bergamo E & A will be responsible for the technical know-how and will provide a turn-key operation for the government of Lebanon under the terms of the LOI and the letter of credit to be issued by the Lebanese government to support Bergamo activities and its involvement in the project.
The Letter of Credit will be issued to Bergamo E & A, the wholly owned subsidiary of Bergamo Acquisition Corp. It should be noted that Bergamo will not be required to find a lender or finance source for the project. It should be also be noted that all of the terms have already been agreed to in advance of this meeting. This meeting is to formalize understandings and move forward between Bergamo E & A and the Government of Lebanon.
For most of the past two weeks, Bergamo President and CEO Hillard Herzog has been overseas in connection with the agreement with Esoft Informatics Private Ltd. The Company anticipates an announcement on that funding shortly. Mr. Herzog's travels are total and apart from the project in Lebanon as announced in this release today.
The Bergamo team is aggressively working on other projects and will be updating investors as developments are confirmed.
Certain statements contained in this document may constitute "forward-looking statements." When used in this document, the words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "investigate," "looking at" as they relate to Bergamo Acquisition Corp. or its management, are intended to identify forward-looking statements or information. Such forward-looking statements include, among others, the expectations or claims, as applicable. Forward-looking statements and information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors could cause Bergamo actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or information, including among other things, those risk factors which are discussed elsewhere in documents that Bergamo files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements or information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Bergamo Acquisition Corp. expressly disclaims any intention or obligation to update or revise any forward-looking statements and information whether as a result of new information, future events or otherwise. All written and oral forward-looking statements and information attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements.
Contact:
Bergamo Acquisition Corp.Hillard Herzog, President & CEO, 702-269-Investor Relations John Pentony, President, 972-292-930John@QuarterbackIR.comorThe Eversull Group, Inc.Jack Eversull, President, 972-378-7917 or 972-571-1624jack@theeversullgroup.com
tuna
Thanks wick...added CHOP + SOKF today so far...btw SOKF making 2 presentations this month also and earned over .30 for the first 6mos and with earnings and revs soaring I have to guess they'll earn well in excess of double that for this year...tuna
SOKF $4.00 +.25 making 2 presentations this month:
SOKO Fitness & Spa Group to Present at Upcoming Investor Conferences
Press Release Source: SOKO Fitness & Spa Group, Inc. On Thursday March 4, 2010, 7:00 am EST
HARBIN, China, March 4 /PRNewswire-Asia-FirstCall/ -- SOKO Fitness & Spa Group, Inc. (OTC Bulletin Board:SOKF.ob - News) ("SOKO"), an operator of fitness centers, beauty salons and spas in Northeast China as well as suburban Beijing, today announced that company management will present at the following upcoming investor conferences:
-- Rodman & Renshaw Annual China Investment Conference at The Regent Hotel in Beijing, China on March 8, 2010 at 3:15pm Beijing time (2:15am Eastern time); -- Roth 22nd Annual OC Growth Stock Conference at The Ritz-Carlton in Laguna Niguel, California on March 17, 2010 at 9:00am Pacific time.
An audio and slide webcast of each presentation will be available under the "Events and Presentations" page on the "Investor" section of SOKO's website at http://www.sokofitness.com/Investors/company2-5.htm . Following the live presentations, archives will be available for 90 days.
To request a one-on-one meeting with representatives of SOKO or to be added to SOKO's email list, please contact Lee Roth at soko@tpg-ir.com or call 212-481-2050.
About SOKO Fitness & Spa Group, Inc.
SOKO Fitness & Spa Group, Inc., an OTCBB listed company (SOKF.OB), is an operator of fitness centers and beauty salons and spas in key cities in Northeastern China as well as in suburban Beijing. SOKO provides programs, services, and products combined with exercise, education, and nutrition to help their members lead a healthy life and achieve their fitness goals. For further information, please go to http://www.sokofitness.com .
To be added to SOKO's email distribution for future news releases, please send your request to soko@tpg-ir.com.
Cautionary Note Regarding Forward Looking Statements
This press release and the statements of representatives of SOKO Fitness & Spa Group, Inc. (the "Company") related thereto contain, or may contain, statements that are not historical facts and are therefore "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, beliefs, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, results regarding the Company's expansion strategies, service offerings, client, membership and customer figures, proposed new center openings and prospects and strategies for growth, may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company does not undertake any obligation to update any forward- looking statement, except as required under applicable law.
For more information, please contact: The Piacente Group, Inc. Investor Relations Brandi Floberg or Lee Roth Tel: +1-212-481-2050 Email: soko@tpg-ir.com Shawn Qu SOKO Fitness & Spa Group, Inc. Tel: +1-908-208-8681 Email: shawnqu@sokofitness.com Judy Jiang SOKO Fitness & Spa Group, Inc. Tel: +86-451-8770-2280 Email: judyjiang@sokofitness.com
tuna
SOKF $4.00 +.25 presenting today and again Mar. 17th:
SOKO Fitness & Spa Group to Present at Upcoming Investor Conferences
Press Release Source: SOKO Fitness & Spa Group, Inc. On Thursday March 4, 2010, 7:00 am EST
HARBIN, China, March 4 /PRNewswire-Asia-FirstCall/ -- SOKO Fitness & Spa Group, Inc. (OTC Bulletin Board:SOKF.ob - News) ("SOKO"), an operator of fitness centers, beauty salons and spas in Northeast China as well as suburban Beijing, today announced that company management will present at the following upcoming investor conferences:
-- Rodman & Renshaw Annual China Investment Conference at The Regent Hotel in Beijing, China on March 8, 2010 at 3:15pm Beijing time (2:15am Eastern time); -- Roth 22nd Annual OC Growth Stock Conference at The Ritz-Carlton in Laguna Niguel, California on March 17, 2010 at 9:00am Pacific time.
An audio and slide webcast of each presentation will be available under the "Events and Presentations" page on the "Investor" section of SOKO's website at http://www.sokofitness.com/Investors/company2-5.htm . Following the live presentations, archives will be available for 90 days.
To request a one-on-one meeting with representatives of SOKO or to be added to SOKO's email list, please contact Lee Roth at soko@tpg-ir.com or call 212-481-2050.
About SOKO Fitness & Spa Group, Inc.
SOKO Fitness & Spa Group, Inc., an OTCBB listed company (SOKF.OB), is an operator of fitness centers and beauty salons and spas in key cities in Northeastern China as well as in suburban Beijing. SOKO provides programs, services, and products combined with exercise, education, and nutrition to help their members lead a healthy life and achieve their fitness goals. For further information, please go to http://www.sokofitness.com .
To be added to SOKO's email distribution for future news releases, please send your request to soko@tpg-ir.com.
Cautionary Note Regarding Forward Looking Statements
This press release and the statements of representatives of SOKO Fitness & Spa Group, Inc. (the "Company") related thereto contain, or may contain, statements that are not historical facts and are therefore "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, beliefs, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, results regarding the Company's expansion strategies, service offerings, client, membership and customer figures, proposed new center openings and prospects and strategies for growth, may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company does not undertake any obligation to update any forward- looking statement, except as required under applicable law.
For more information, please contact: The Piacente Group, Inc. Investor Relations Brandi Floberg or Lee Roth Tel: +1-212-481-2050 Email: soko@tpg-ir.com Shawn Qu SOKO Fitness & Spa Group, Inc. Tel: +1-908-208-8681 Email: shawnqu@sokofitness.com Judy Jiang SOKO Fitness & Spa Group, Inc. Tel: +86-451-8770-2280 Email: judyjiang@sokofitness.com
tuna
Chinese steel CHOP 7.37 +.27 earnings Wed:
China Gerui Advanced Materials Group Limited Announces Reporting Date and Conference Call for Fourth Quarter and Full Year 2009 Financial Results
Press Release Source: China Gerui Advanced Materials Group Limited On Thursday March 4, 2010, 9:00 am EST
ZHENGZHOU, China, March 4 /PRNewswire-Asia-FirstCall/ -- China Gerui Advanced Materials Group Limited (Nasdaq:CHOP - News) ("China Gerui," or the "Company"), a leading niche and high value-added steel processing company that utilizes advanced technology to produce specialty steel products in China, today announced that the Company will report its fourth quarter and full year 2009 financial results before the market opens on Wednesday, March 10, 2010.
The Company will also host a conference call at 8:00 am ET on Wednesday, March 10, 2010.
Listeners may access the call by dialing +1 (877) 456-7316 five to ten minutes prior to the scheduled conference call time. International callers should dial +1 (706) 758-1304. The conference participant pass code is 60267064.
A replay of the conference call will be available for 14 days starting from 9:00 am ET on Wednesday, March 10, 2010. To access the replay, dial +1(706) 645-9291. International callers should dial +1 (800) 642-1687. The passcode is 60267064.
A live and archived webcast of the call will be available on the Company's website at http://www.geruigroup.com/Investors.html . To listen to the live webcast, please go to the Company's website at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software.
About China Gerui Advanced Materials Group Limited
China Gerui Advanced Materials Group Limited (formerly Golden Green Enterprises Limited) is a leading niche and high value-added steel processing company that utilizes advanced technology to produce specialty steel products in China. The Company produces high-end, high-precision, ultra-thin, high- strength, cold-rolled steel products that are characterized by stringent performance and specification requirements that mandate a high degree of manufacturing and engineering expertise. China Gerui's products are non- standardized commodity products, tailored to customers' requirements and subsequently incorporated into products manufactured for various applications. The Company sells its products to domestic Chinese customers in a diverse range of industries, including the food packaging, telecommunication, electrical appliance, and construction materials industries. For more information, please visit http://www.geruigroup.com .
For more information, please contact: Company Contact: Email: investors@geruigroup.com Website: http://www.geruigroup.com Investor Relations Contact: CCG Investor Relations Mr. Athan Dounis Phone: +1-646-213-1916 Email: athan.dounis@ccgir.com
tuna
Yes it is buxmaker...thanks for the heads up! tuna
LOL!!! Good one MB!! Go EBIG!!!
Gapper CHOP 7.37 +.27 reports Wed. another Chinese steel company I like besides awesome CNAM:
China Gerui Advanced Materials Group Limited Announces Reporting Date and Conference Call for Fourth Quarter and Full Year 2009 Financial Results
Press Release Source: China Gerui Advanced Materials Group Limited On Thursday March 4, 2010, 9:00 am EST
ZHENGZHOU, China, March 4 /PRNewswire-Asia-FirstCall/ -- China Gerui Advanced Materials Group Limited (Nasdaq:CHOP - News) ("China Gerui," or the "Company"), a leading niche and high value-added steel processing company that utilizes advanced technology to produce specialty steel products in China, today announced that the Company will report its fourth quarter and full year 2009 financial results before the market opens on Wednesday, March 10, 2010.
The Company will also host a conference call at 8:00 am ET on Wednesday, March 10, 2010.
Listeners may access the call by dialing +1 (877) 456-7316 five to ten minutes prior to the scheduled conference call time. International callers should dial +1 (706) 758-1304. The conference participant pass code is 60267064.
A replay of the conference call will be available for 14 days starting from 9:00 am ET on Wednesday, March 10, 2010. To access the replay, dial +1(706) 645-9291. International callers should dial +1 (800) 642-1687. The passcode is 60267064.
A live and archived webcast of the call will be available on the Company's website at http://www.geruigroup.com/Investors.html . To listen to the live webcast, please go to the Company's website at least fifteen minutes prior to the start of the call to register, download and install any necessary audio software.
About China Gerui Advanced Materials Group Limited
China Gerui Advanced Materials Group Limited (formerly Golden Green Enterprises Limited) is a leading niche and high value-added steel processing company that utilizes advanced technology to produce specialty steel products in China. The Company produces high-end, high-precision, ultra-thin, high- strength, cold-rolled steel products that are characterized by stringent performance and specification requirements that mandate a high degree of manufacturing and engineering expertise. China Gerui's products are non- standardized commodity products, tailored to customers' requirements and subsequently incorporated into products manufactured for various applications. The Company sells its products to domestic Chinese customers in a diverse range of industries, including the food packaging, telecommunication, electrical appliance, and construction materials industries. For more information, please visit http://www.geruigroup.com .
For more information, please contact: Company Contact: Email: investors@geruigroup.com Website: http://www.geruigroup.com Investor Relations Contact: CCG Investor Relations Mr. Athan Dounis Phone: +1-646-213-1916 Email: athan.dounis@ccgir.com
tuna
SOKF 4.00 +.25 HOD on over 5X normal daily volume here!! Fast growing and low PE Chinese company with lots of room for upside imho...tuna
Thanks buxmaker...will look at BGMO...tuna
Alert: Chinese SOKF 4.00 +.25 just starting imho w/4.45 as 52wk high....tuna
SOKF 3.95 +.20 HOD ask popped to $4 now wick!! Love this company! tuna
I agree fully on EBIG .17 +.02 now MB!!! Love this one!! tuna
Yeah wick! Check SOKF 3.90 +.15 just beginning to go here with good volume for it...and earned .17 per share reported in Jan for Q2 vs .10 previous year! And that's on more shares OS!! Worth a good look imho...tuna
Chinese "HOT" added SOKF 3.85 +.10 just beginning to get noticed and earned .17 vs .10 on more shares OS per last Q report in Jan:
SOKO Fitness Reports Second Quarter Fiscal 2010 Results
Net Income Improves by 89% on 61% Revenue Growth Year-over-year; Company to Host Conference Call on Tuesday, January 19 at 8:30 AM Eastern Time
Press Release Source: SOKO Fitness & Spa Group, Inc. On Thursday January 14, 2010, 6:15 pm EST
HARBIN, China, Jan. 14 /PRNewswire-Asia-FirstCall/ -- SOKO Fitness & Spa Group, Inc. (OTC Bulletin Board: SOKF) ("SOKO"), an operator of fitness centers and beauty salons and spas in China, today reported financial results for the second quarter and first six months of fiscal 2010, ended November 30, 2009.
Second Quarter and Recent Financial and Business Highlights -- Revenue increased 61% to $7.4 million, compared with revenue of $4.6 million in the second quarter of fiscal 2009. -- Revenue increased across each of the company's business segments, with spa and beauty services and products accounting for 80% of revenue, fitness centers accounting for 15% of revenue and the beauty school accounting for 5% of revenue. -- Total professional services were $5.3 million, up 73% year-over- year; -- Total product sales were $598,000, up 102% year-over-year; -- Membership fees were $1.1 million, up 19% year-over-year; and, -- Revenue from beauty school tuition was $392,000, compared with $314,000 in the second quarter of fiscal 2009. -- Gross profit was $5.2 million, or 70% of revenue, compared with $3.0 million, or 65% of revenue in the second quarter of fiscal 2009. -- Operating income improved by 76% to $3.2 million, compared with $1.8 million in the second quarter of fiscal 2009. -- Net income improved by 89% to $3.2 million, or $0.17 per share (diluted), compared with net income of $1.7 million, or $0.10 per share (diluted) in the second quarter of fiscal 2009. -- As of November 30, 2009, cash and cash equivalents were $3.64 million, an increase of 91% over $1.91 million as of May 31, 2009. -- Opened its first "non-surgical medical beauty spa" in Harbin, China in an effort to expand SOKO's range of services and capture potential new revenue streams. -- Expanded geographic reach by securing 51% interest in two fitness centers in suburban Beijing, marking the company's initial entry into the Beijing market.
"Our quarterly results reflect the strength of our cross-selling business model and continued execution of our business strategy," said Tong Liu, Chief Executive Officer of SOKO. "During the first half of fiscal 2010, we continued to expand our brand by opening new facilities, including Yoga Wave II and the Harbin Queen Medical Beauty Spa, which is our first facility licensed to perform non-surgical medical aesthetic procedures. We believe that the medical beauty segment is a potentially high-growth market where there are significant barriers to entry due to licensing requirements. As such, we believe we are well positioned to secure additional revenue from our existing customer base with these medical beauty services, as well leverage this offering to attract new customers who should be candidates for our full range of fitness, spa and beauty services. In line with our strategy, we will continue to focus on promoting our higher margin business segments such as our yoga centers and spa and beauty service offerings. Importantly, while we continue to open new centers, our operating costs remain in-line with our revenue. With a 62% increase in SG&A expenses in the second quarter, we achieved a 77% year-over-year increase in operating income.
"Following the close of the second quarter, we also acquired a majority interest position in two fitness centers in Beijing. This marks our initial entry into this important region and serves our objective of geographic expansion through strategic acquisitions. These centers are located in a suburban area of Beijing and, as such, we believe they face less competition from peers that are operated in the central Bejing area and are thus consistent with our acquisition strategy. We expect to continue to execute on our growth strategy based in opening centers in second tier cities such as Harbin where we believe we can achieve the swiftest impact. In addition, we will also strategically evaluate opportunities to open centers in or around first tier cities, such as Beijing, so long as they fit in with our core strategy of opening facilities where we believe there is low penetration from peers and we can adequately compete.
"With the expanding breadth of our service offerings and a growing client base, we believe we are well positioned to grow our business, with our existing members and clients representing the ideal target customers for the full breadth of our products and services," Mr. Liu concluded.
SOKO currently operates 15 facilities in key cities in Northeastern China including nine beauty salons and spas, five fitness centers and yoga studios and one beauty school, as well as two fitness centers in suburban Beijing. At the end of the second quarter of fiscal 2010, SOKO had 14,909 fitness club members, and 19,893 beauty salon and spa clients. In addition, SOKO has four facilities under construction: The Da Qing beauty salon and spa, one beauty salon in the Long Dian building in Harbin, as well as one fitness center and one yoga center.
Second Quarter Financial Summary:
Total Revenue for the second quarter of fiscal 2010, ended November 30, 2009, was $7.4 million, an increase of 61%, over revenue of $4.6 million in the second quarter of fiscal 2009. The increase in revenue was largely attributed expansion of our facilities and services including increased sales from existing members and clients, sales of add-on services to members and clients and continued efforts to add new members and clients in new and existing facilities.
Gross profit for the quarter was $5.2 million, or 69.5% of revenue, compared with $3.0 million, or 65.5% of revenue for the comparable quarter in fiscal 2009. The increase in margins for the period was [primarily the result of the addition of the non-medical beauty service offering].
Selling, general and administrative expenses were $2.0 million, an increase of approximately 62% over $1.2 million in the second quarter of fiscal 2009.
Net Income increased 89% to $3.2 million, or $0.17 per share, based on 18.2 million weighted average shares outstanding, compared with $1.7 million, or $0.10 per share, based on 17.0 million weighted average shares outstanding, for the year-ago period. The increase in net income was related to the increase in revenue, as well as a reduction in interest and other expenses.
As of November 30, 2009, SOKO had cash and cash equivalents of $3.6 million, an increase of 2% compared with $3.6 million in the prior quarter, and a 91% increase over $1.9 million reported on May 31, 2009.
Company and Market Outlook
"As we move into the second half of our 2010 fiscal year, we believe SOKO is positioned to continue its growth," said Mr. Liu. "Our strong member retention rate of approximately 81% remains above the industry average and provides a potential base of recurring and predictable revenue while we execute on our growth initiatives. We continue to expand our product and service offerings with an emphasis on growing our client and membership bases to drive our existing facilities into maturity, a cycle we typically achieve within two to three years following each center's opening. With new SOKO- operated facilities opened earlier this year and four new facilities currently under construction, we believe we are well on our way toward reaching our goal of adding 7-9 new centers to our portfolio in calendar 2010.
"We further believe that the number of potential customers for SOKO's fitness and aesthetic offerings are expanding as the upper and middle classes in the cities in which we operate are becoming increasingly affluent. With an established, well-respected brand and a loyal existing customer base, we are confident that we can capitalize on these favorable market trends in order to continue growing our business," Mr. Liu concluded.
Conference Call
SOKO will host a conference call for interested investors and analysts on Tuesday, January 19, 2010, at 8:30 a.m. Eastern time. To participate in the conference call, please dial 877-941-8416 toll free from the U.S, or 1-480- 629-9808 for international callers.
An audio replay will be available approximately one hour after the conclusion of the call and will be made available through Tuesday, February 2, 2010. The audio replay can be accessed by dialing 1-800-406-7325 toll free from the U.S., or 1-303-590-3030 for international callers, and entering access ID number 4201679.
About SOKO Fitness & Spa Group, Inc.
SOKO Fitness & Spa Group, Inc., an OTCBB listed company (SOKF.OB), is an operator of fitness centers and beauty salons and spas key cities in Northeastern China as well as in suburban Beijing. SOKO provides programs, services, and products combined with exercise, education, and nutrition to help their members lead a healthy life and achieve their fitness goals. For further information, please go to http://www.sokofitness.com .
To be added to SOKO's email distribution for future news releases, please send your request to soko@tpg-ir.com.
Cautionary Note Regarding Forward Looking Statements
This press release and the statements of representatives of SOKO Fitness & Spa Group, Inc. (the "Company") related thereto contain, or may contain, statements that are not historical facts and are therefore "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, beliefs, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believe," "expect," "anticipate," "estimate," "intend," "plan," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results, including, without limitation, results regarding the Company's service offerings, client and customer base, proposed new center openings and prospects and strategies for growth, may differ significantly from those set forth in the forward-looking statements. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact: The Piacente Group, Inc. Investor Relations Brandi Floberg Tel: +1-212-481-2050 Email: soko@tpg-ir.com SOKO Fitness & Spa Group, Inc. Shawn Qu Tel: +1-908-208-8681 Email: shawnqu@sokofitness.com SOKO Fitness & Spa Group, Inc. Judy Jiang Tel: +86-451-8770-2280 Email: judyjiang@sokofitness.com SOKO FITNESS & SPA GROUP, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (IN US DOLLARS) (UNAUDITED) FOR THE SIX MONTHS FOR THE THREE MONTHS ENDED ENDED NOVEMBER 30, NOVEMBER 30, 2009 2008 2009 2008 (RESTATED) (RESTATED) Net Sales $13,843,683 $8,885,158 $7,413,179 $4,608,291 Cost of Sales (4,451,744) (3,015,436)(2,262,805) (1,590,281) Gross Profit 9,391,939 5,869,722 5,150,374 3,018,010 Selling, General and Administrative Expenses: 3,899,759 2,576,336 2,001,385 1,234,151 Operating Income 5,492,180 3,293,386 3,148,989 1,783,859 Other Income and Expenses Interest expenses (31,564) (106,632) 961 (56,624) Other income 33,298 2,606 17,776 191 Other expenses (3,934) (165,721) (3,463) (96,380) Total Other Income and (Expense) (2,200) (269,747) 15,274 (152,813) Income Before Income Taxes 5,489,980 3,023,639 3,164,265 1,631,046 Provision for Income Taxes 47,904 51,437 24,024 26,305 Net Income 5,442,076 2,972,202 3,140,240 1,604,741 Less: net (loss) attributable to the noncontrolling interest (162,151) (147,544) (36,384) (71,664) Net Income Attributable to SOKO Fitness & Spa Group, Inc. $5,604,227 $3,119,746 $3,176,623 $1,676,405 Other Comprehensive Income Foreign currency translation adjustment 4,695 260,748 25,977 17,788 Comprehensive Income $5,608,922 $3,380,494 $3,202,600 $1,694,193 Basic and Diluted Income per common share Basic $0.33 $0.18 $0.19 $0.10 Diluted $0.31 $0.18 $0.17 $0.10 Weighted average common share outstanding Basic 17,000,000 17,000,000 17,000,000 17,000,000 Diluted 18,168,443 17,000,000 18,168,443 17,000,000 SOKO FITNESS & SPA GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN US DOLLARS) NOVEMBER 30, 2009 MAY 31, 2009 (UNAUDITED) ASSETS Current Assets: Cash & cash equivalents $3,638,308 $1,907,640 Restricted cash -- 7,233 Accounts receivable, net 411,431 110,541 Inventories 1,430,666 1,391,302 Advances to suppliers 2,861,514 993,084 Employee advance 87,531 54,783 Prepaid expense 192,019 146,959 Total Current Assets 8,621,469 4,611,542 Property, plant and equipment, net of accumulated depreciation 24,637,890 19,674,394 Other Assets Security deposit 109,711 47,853 Deferred rent 719,338 589,188 Deposit to suppliers 1,464,847 1,464,530 Investment advance 1,171,795 399,750 Goodwill 2,793,607 2,525,778 Total Other Assets 6,259,298 5,027,099 Total Assets 39,518,657 29,313,035 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Short-term loans 3,310,322 2,196,795 Accounts payable, accrued expenses and other payable 833,606 471,457 Unearned revenue 5,084,363 1,909,755 Taxes payable 423,134 360,229 Contingent liability 200,000 200,000 Total Current Liabilities 9,851,425 5,138,236 Stockholders' Equity Preferred Stock, $.001 par value; 10,000,000 shares authorized; - 0 - shares issued and outstanding at November 30, 2009 and May 31,2009 -- -- Common stock, $0.001 Par value; 500,000,000 shares authorized; 17,000,000 shares issued and outstanding at November 30 and May 31, 2009 17,000 17,000 Additional paid-in-capital 2,361,716 2,346,397 Additional paid-in-capital - Warrants 639,253 639,253 Accumulated other comprehensive income 1,915,447 1,910,752 Retained earnings 24,819,341 19,215,114 Total Stockholders' Equity 29,752,757 24,128,516 Noncontrolling interest (85,525) 46,283 Total Equity 29,667,232 24,174,799 Total Liabilities and Stockholders' Equity $39,518,657 $29,313,035
In at 3.85 here...tuna