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I confused you with bbb, sorry.
I don't feel that brave, when the stock is priced below book, with steady cash flow. As I see it, there all the bad, and no good, is priced into the stock.
I was looking at this, and the several other posts re you buying back your shares:
Posted by: _bbb_ Date: Tuesday, March 09, 2010 3:43:34 PM
In reply to: BigGreen101 who wrote msg# 6746 Post # of 6837
Bought another 100 shares today...slowly buying back what i sold...
But you already bought, so you said about a month ago, and you said you were in it for the long term this time. Am I confusing you with someone else?
Asking again, BBB, are you still in, and building that position for the long term, as you suggested a month ago? You said you were in this time for the longer term.
I don't know about $6. I have a hard time believing that the company can trade below asset value, particularly given revenue/cash flow.
I suspect news is on the way. Let the short termers get flushed, at last. The last flush was not strong enough.
Herbie, it seems to me that you often misinterpret my posts, which I assume is influenced by your state of mind. This is at least the second time. And, perhaps I am incorrect, but I consider myself very well versed in English, and a very good communicator. So something is amiss in our communication.
You have once again wholly misinterpreted what I've said, which I have a particularly hard time understanding given my posting record. Notwithstanding, I will clarify: the "stock price" and action is suggesting that the company is at risk of going out of business (i.e., failure), as it's selling below the value of its assets, when anyone rationally evaluating the situation should know that this is not the case.
As I mentioned, I bought quite a bit more just below $8, and intend to hang in here, waiting for the stock to turn a corner. It looks like we have a pretty good wash out here, so good news should be richly rewarded.
Well, it looks like those who wanted out got out with the stock holding that $7.75 level. Hopefully, everyone else is willing to wait for material news. IMO, we're priced for nothing but failure.
Based on communications with the company, I inferred some announcement should be forthcoming.
BB, are you still building your position that you recently initiated? I think this $7.75-$8.10 area is quite an opportunity for those who are PATIENT.
Clearly, this is not a technical play, LOL.
Thanks BG.
Well, the 3 products awaiting final approval have been listed for a long, long time, so it seems. I have to think it's been around 2 years.
I am also wondering what's going on with the Hongrui facility. Company hasn't realized much value from that acquisition.
I just want some signal that things are moving in the right direction. I know that's not really the Chinese style, but they need to appreciate it's foreigners who control the values of these companies.
Best to you.
Yes, I've had those same thoughts as of late. It's definitely frustrating.
I keep assuming that it will come together one of these days. Perhaps I am giving management too much credit, but with the revenue stream they have been able to produce the last several years, they are doing something right, and I can't imagine that they are just going to allow it to languish now.
On another note, it seems like the SFDA needs to get its act together. It appears that a number of Chinese pharma companies have been unable to bring drugs to market as soon as they had had expected. I would really like to see Jiangbo rolling out the new drugs, as well as those from Hongrui.
My fingers are crossed.
Oh well for hoping it was the bottom. At least we've got some volume down here, this time. This thing needs to get flushed out and then we need some good news.
Partial fill at 8.11. That may be it for the day. It should reverse around here, as long as no bad news.
I bought a little more at 8.32, and have more orders in below. At this price, I am not concerned about the set backs. We're below asset value.
It was around 8.45 average. Not the very bottom, but towards the bottom. 3,000 shares.
I bought a few thousand today, at the bottom.
All it takes is 1-2 big sellers to send this stock up or down. Someone really wants out. It's useless to assume whether this is responsive to something known about the company.
I agree, some PR would be welcomed: uplisting, new drug, affirming guidance again, something.
Nah, I dont think we made a bad decision by holding. Maybe for not trading it, but I think it would be silly to throw in the towel here.
But today was a doozie -- not a good one. I'm inferring that some of it could have been from the stink bomb that CHME dropped.
I was hopeful that we would hold 9.60 to 10, until some good news was released. Oh well, it's still the same company it was last week.
I actually bought a little at 9.26.
Best to you guys. Let's hope the patience pays off.
Thanks for the kind message. I was not aware others on this board were not native English speakers. I will be sensitive to that in the future.
I agree about the slow drag in pushing the application through. I think that's why Pope set the deadline -- motivational. Though I also tend to think management suggested that the outstanding question would resolve by then.
I read somewhere else where someone said it took 2 months for the company to respond, and I reserve judgment on that, as it's a second-hand interence and nothing more. I listened to the conference call, and it's entirely possible that there was bank 'n forth for that 2 month period before more was submitted. I just don't know. What surprises me most is that CCGR is not pushing things along, filling the language and cultural void.
Enjoy the rest of your weekend as well. And I am sorry if I snapped back. From day 1 here, I feel like people have disqualified me for being new here, and that seems unreasonable to me. But I shouldn't take that out on you.
Best of luck.
I still don't understand how even re-uplisting could mean that the application was rejected. To reuplist, you would have to have uplisted before, and we all know that's not the case. So, with all due respect, that's not a reasonable interpretation of what I said.
If you look back at the thread, you will see that you anxiously jumped on me about what I meant, and then suggested that something very bad had happened to the company. How and the heck would I know that before it's public. C'mon, brother, this is small stuff, and nothing to sweat.
Perhaps my response was not as cordial regarding what I meant -- insofar as I said you seemed anxious -- but it's rather hypocritical to crucify me over something so trivial.
I tend to think they will work something out in any event as long as JGBO posts a good quarter and moves things forward. Pope didn't invest all that money for a 16% return on a small portion of it (the late interest payment penalty) and then to accelerate the debt based on something the company has no control over -- convertying RMB. And unfortunately, it's not as easy to uplist anymore, because of the taint from several recently uplisted Chinese companies who had to revise their accounting.
You need to relax, brother. I don't care how long anyone has been here, nor should you. It's immaterial.
I don't know what kind of work you do, but the "Re" line in any letter pertains to the subject of same. It is shorthand for "regarding." Not my fault you missinterpreted. I clarified my intent. I hardly pestered or badgered. You made an incorrect assumption, and I corrected it, without making fun of you. So get over it. There is no shouting going on, other than your tirade. And this is not the first time on this board someone has spouted off about how mong they've been here. Is this some sort of elite club, or is the intent to exchange ideas.
I've never bitten anyone's head off on this board. I'm sure I disagreed, but I'd like to think there is value in differing opinion.
If this is all about how long you've been here, I suppose it will always be the 4 of you until your replaced.
You need to relax. It's not worth getting all hot and bothered over minutae.
And I meant "delist" not "unlist," my bad.
Next time, if you don't understand, ask. But it's hardly constructive for you and someone else to share the same interpretation and then for that to motivate you to point out that my post was somehow deficient. I thought most people knew what "re" meant, but I stand corrected.
"Re" means regarding. I've never heard of re-uplisting. You either uplist, or you don't, as far as I know, that is, unless you get unlisted (punted back), and then list again.
The letter is attached to the Q2 report, between Pope and JGBO. It provides for the uplist deadline. While I view this as largely motivational, I strongly suspect that there is something to this date -- someone knowing something believes that there is a distinct possibility that uplisting can be achieved by this date. That doesn't mean it will, but I don't think this date was chosen out of thin air.
You may say, well why then the date for interest payment. I believe that was intended to encourage the government to allow for an exception, though it didn't work.
It's my belief that if JGBO performs per guidance, and gets back on track in terms of bringing its new products to market, and buying new ones, and building out the new propery, Pope will remain confident that it will see a great ROI on its investment. If I am mistaken, you can always sell your shares. : )
Boy, you're an anxious one. "Re" means regarding.
Stock mostly traded between 9.90 and 10 today. Performed well against a tape that took down many stocks the last 2 hours of the day. Nothing to worry about at this point.
Take it easy.
This only becomes relevant if good, unexpected news.
They wouldnt put anything about the uplisting in a presentation, other than already public information. And the only numbers that dropped were the PPS. It confirms guidance again. I view this positive, quite positive.
First and foremost, they must meet guidance. If they can do that, the rest is not as concerning, as the business continues to show it can produce cash. Sure, uplisting is nice, but that will come in any event.
I contacted the company, and was told they are hard at work re uplisting, and that the Pope situation is being worked on actively, suggestive of some kind of workout, regardless. If they make their numbers, then Pope is happy with $8 shares.
Nothing unexpected is good, isn't it?
You need to more closely evaluate the provision. There's much more to it than that, Herbie.
I think you saw it: the letter agreement, Herbie. Unquestionably, Pope is pushing hard on this, to motivate JGBO. It's a HUGE priority.
Nope, absolutely insisting in writing.
I can't agree with that. It's on an independent course, just dealing with formalities, and it's also for Pope, who is insisting that it get done. That alone is enough to drive it. That's why I don't hesitate to hang in here. Pope is in there directing now.
Herbie, I don't know how you can infer that, particularly given the agreement with Pope. I can nearly assure you that it happens in the next few months. A bad quarter has no bearing on uplisting. For a microcap, there are few with a better balance sheet.
I sent a letter to Crocker and Elsa, and did not hear back. Make of it as you will. In any case, someone was sure willing to pay $10 for shares today, without it dropping out all day, which comforts me a little.
I have no idea what to expect in the short term. But hope shines eternal.
They have a lot going on right now, and they may want to keep things on the down low.
Most stocks have far more shorts, so I would infer nothing from it. It could be a hedge.
Herbie, I know, I've read your posts, I was just playing around. If you dont want to buy anymore don'e. But I understand the temptation. I have more of this than I probably should in light of the size of my portfolio, and I was still tempted to place orders when it dropped below 9.50 yesterday.
You've made a lot of money. And you'll make more.
You think it's going higher, and you want it to go higher immediately so you don't buy more cheap? Huh? Man up, bud. ; )
The opportunity is ripe. As someone stated over on Yahoo, some of the likely selling consisted of large holders from that board. They will soon regret it.
There is immense upside here, and the technicals are quickly corrected and getting back into firm. This last quarter was but a blip.
Hmmmm, a committed long term bagger now, huh? Just joking.
I assume you have some target, right?
Anyway, good luck to you.
So you got in at 9.90 today? Nice!
I bought as low as mid 8s, but started too early. In any event, my basis is around $10, so it's all good. It's even lower, if I include some swing trading. I'll sell a little here and there after runs, like the few shares I caught at $10.49 today, which I bought a few bucks cheaper. But make no mistake, I am playing for more than $2 per share. A lot more.
Do you really trust technicals, given the volume and strange patterns? Are you counting on favorable news re workout with Pope, uplist, etc.? I'm counting on all that, and think there is a very good chance it plays out. That said, I am surprised how quickly this bottomed out and popped. I didn't expect it. Any ideas as to why?
We'll see. Anyhow, good luck.
Nice allegiance to the chart. I guess it goes to show you, you may not catch the bottom, but it all works out well, as you sold way above your buy-in point. Nicely done.
Curious, where did you buy in today, if you don't mind sharing?
I finally went green today when it hit $10.49 today, but then it got socked back. All in all, a very good day and pretty decent volume.
Good luck. Looks like the bull is rattling the cage again.