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sorry
I wrote that Google Chrome was a new browser, overlooked someone already mentioned it...
It works fast!
Greetings from Holland and GLTA
Maybe they are aiming (It's their slogan: Aim wide, aim high) for listing on Nasdaq (National market) which requires a pps of $5.00?
http://www.wilmerhale.com/files/upload/Nasdaq_Listing_Requirements.pdf
There is no PR about the R/S. Is that because SEC rules forbid them to publish anything because there numbers on FY 2008 are due within a few days?
I hope they are doing this to establish uplisting. 40-1 means a pps of $ 8.00 that's enough to uplist to any major board. That would finally mean good news!
Greetings from Holland and GLTA
No doubt about that, but when?
Sept. 2008
Jan. 2009
2015 ?
All the best to you too, John
Maybe Long even helped you to bail out, that would be ironic ?!
Let's hope this is not one of those jumps followed by a fallback. I am crossing my fingers the results got out and someone is very pleased with them and starting to buy... we'll see. No news out yet, or am I missing something.
Greetings from Holland and GLTA
Ha, I've got more time than money. So I'll wait
On GTEC's website it says:
5. When is the next earnings release?
Genesis Pharmaceuticals Enterprises, Inc.'s quarterly earnings reports are tentatively scheduled to be released 6 weeks following a quarter-end and 10 weeks following the year-end. All earnings releases are posted on our website.
See this link http://www.genesis-china.net/others.asp?fir_lineid=75&sec_lineid=480
That would give an expected date in the first week of September. (June 30th + 10 weeks)
I guess we all have to wait and keep our fingers crossed that the numbers will be good (very likely) and that the market picks them up (not so likely, unfortunately).
Have a nice weekend all.
Greetings from Holland and GLTA
Let's hope it causes a nice long rally...
I guess there will be no 4th quarter report, they will just bring out the numbers on the whole fiscal year 2008 which ended June 30th. This annual report has to be out 60 days after June 30th so that makes August 29th.
Good post BigGreen101. That just about sums it up!
Quote:
The Board of Directors also authorized and approved creation of a Compensation Committee that will, among other things, make recommendations to the Board of Directors concerning salaries and incentive compensation for the Company's officers.
Is it often that companies have a Compensation Committee? Seems they want to give themselve some more shares?
Even a new drug hasn't helped the pps to climb? What will? I hope enthusiasm will be there when the results of FY 2008 are announced...
Has anyone read this?
http://ih.advfn.com/p.php?pid=nmona&cb=1216407174&article=27322460&symbol=NB%5EGTEC
Sure contains a lot of info. Especially page 52 and further.
Could it be Mr. Clinton has been dumping 1.5 million shares on us since February?
Maybe some financial expert will be reading it and post his findings here..
I have checked on GTEC's website and this new drug (Radix) has the same status as 3 other drugs. Therefore I think announcements on the other 3 (or 4) will be made soon hereafter. I think this one has just a small impact, that's understandable if you look at the expectations given:
The Company estimates that its sales of Radix Isatidis Dispersible Tablets in fiscal year 2009 ending June 30, 2009 will be approximately US$4.2 million and an estimated US$10 million in fiscal year 2010.
Genesis has all of manufacturing equipment needed to produce Radix Isatidis Dispersible Tablets, and has concluded its marketing research and planning for this new product. The Company estimates that its first year working capital and marketing expenses will be approximately US$1.0 million.
Only 4m million, that's just 4 percent of the annual total.
Only 1 million dollar of working capital. That means of that 30 million they just acquired, bigger amounts are needed for the other drugs, and thus those other drugs will generate more revenues/income ?
Greetings from Holland and GLTA
Say welcome to the new drug:
Genesis Pharmaceuticals Announces SFDA Approval for Radix Isatidis
Dispersible Tablets
LAIYANG, China, July 15 /Xinhua-PRNewswire-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GTEC) ("Genesis" or the "Company"), a leading pharmaceutical company in the People’s Republic of China, today announced that the Company received approval from the Chinese State Food and Drug Administration ("SFDA") to start producing and distributing Radix Isatidis Dispersible Tablets.
Radix Isatidis is an herbal-based traditional Chinese medicine used to cure viral influenza. Radix Isatidis is very popular in China because people there believe it has fewer side affects than western medicines. Most Radix Isatidis products are in powder form, which has to be dissolved in hot water. Genesis will be the only company in China to manufacture Radix Isatidis in dispersible tablet form. Radix Isatidis Dispersible Tablets will be more convenient to take, easier to absorb and are more stable than Radix Isatidis products in powder form.
Radix Isatidis Dispersible Tablets will be sold over the counter in pharmacies, a rapidly growing distribution channel for drugs in China. The Company will start distributing Radix Isatidis Dispersible Tablets within three months, and will make this medicine widely available to customers throughout China.
Annual sales of Radix Isatidis in China are estimated to be over US$1.43 billion. The Company estimates that its sales of Radix Isatidis Dispersible Tablets in fiscal year 2009 ending June 30, 2009 will be approximately US$4.2 million and an estimated US$10 million in fiscal year 2010.
Genesis has all of manufacturing equipment needed to produce Radix Isatidis Dispersible Tablets, and has concluded its marketing research and planning for this new product. The Company estimates that its first year working capital and marketing expenses will be approximately US$1.0 million.
"We are pleased to receive approval from the SFDA to produce and distribute Radix Isatidis Dispersible Tablets," said Mr. Cao Wubo, Chairman and CEO of Genesis Pharmaceuticals Enterprises. "We will distribute this new drug through our existing nationwide marketing and distribution network, and believe it will quickly become popular among a wide range of customers, from young to old people."
About Genesis Pharmaceuticals Enterprises, Inc.
Genesis Pharmaceuticals Enterprises, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People’s Republic of China. Its operations are located in Northeast China in an Economic Development Zone in Laiyang City, Shandong province. Genesis is a major pharmaceutical company in China producing tablets, capsules, and granules for both western and Chinese herbal-based medical drugs.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company’s actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company’s ability to introduce, manufacture and distribute new drugs. Actual results may differ materially from anticipated or predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company’s ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company’s business and financial results is included in the Company’s filings, available via the United States Securities and Exchange Commission.
For more information, please contact:
Genesis Pharmaceuticals Enterprises, Inc.
Ms. Elsa Sung, CFO
Tel: +1-954-727-8436
Email: genesispharm@gmail.com
Web: http://www.genesis-china.net
CCG Elite Investor Relations, Inc.
Mr. Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgelite.com
SOURCE Genesis Pharmaceuticals Enterprises, Inc.
-0- 07/15/2008
/CONTACT: Ms. Elsa Sung, CFO of Genesis Pharmaceuticals Enterprises, Inc., +1-954-727-8436, or genesispharm@gmail.com; Mr. Crocker Coulson, President of CCG Elite Investor Relations, Inc., +1-646-213-1915, or crocker.coulson@ccgir.com/
/Web site: http://www.genesis-china.net
http://www.ccgelite.com /
(GTEC)
Greetings from Holland and GLTA
No action untill fall? Summer will be boring here...
Doesn't matter if rewards are good.
I am still holding my 112k shares. Some of these days I regret I haven't sold before. Other days I can still see a bright future. Who else is holding on?
(Maybe this can help us past the time...)
On the other hand, we can always blame the Germans...
Thanks Long, you always know how to make GTEC look like my best investment ever! I hope your words will prove right!!
Patience pays? Pffff, maybe in the long run...
Why bigplay777?
Are you thinking something like this?
Or am I diluting too fast in this table?
Carl, that's enough food for thought for now.
The problem is they surely didn't authorize 900 million shares for nothing. Eventually this number will be outstanding. It will take a few years I hope...
But on the other hand, there is the fact of growth: if GTEC keeps growing about 30% every year the numbers could look like this:
2008 $ 29 million earnings before tax
2009 $ 38 million
2010 $ 49 million
2011 $ 64 million
then we do the math:
uplisting is a fact by then (?)
using a PE of 15 (like AOB)gives us
900 million shares (maximum dilution)
earnings per share 64 / 900 = $ 0,071
price per share 15 x 0,071 = $ 1,07
That is okay for me!
Carl, then Wubo Cao has a big problem: eps = 20/513 = 0.038$ and that means he will lose his shares in escrow ?! (If: net income = earnings before taxes, which I am not sure off...)
Or is your calculation wrong because eps is usually calculated with earnings before taxes and you are calculating with net income (=earning after taxes?)
I can assure you it isn't me. But I hope we will see a lot more buyers soon. Let's say buyers who are willing to pay $1 or so per share. That would be nice...
Fiscal Year 2008 has almost finished for gtec. Nothing of what was promised has been realised: uplisting, new drugs. Oh, I just forgot, they did realise one thing: financing of 30 million dollar. [cynical mode on] That was a great deal. [cynical mode off]
Only 5 days left in FY 2008, I guess that won't bring us much good. But then it aso could mean a lot of great things will happen in FY 2009. Let's hope we will be rewarded...
I really think GTEC should give a clear outlook for FY 2009 when they present the numbers on FY 2008. That will happen within 10 weeks from June 30, so that will be september at the latest.
Greetings from Holland and GLTA
I am going to write a critical mail to Elsa Sung and Crocker Coulson. In my opinion last couple of press releases were lousy. I think we all deserve to know a few things:
- why such a lousy financing deal, was GTEC in a hurry ?
- how come after they financed 5 million they needed yet another 30 million for LFAA?
- what are the plans about uplisting, how, when ?
- those new drugs that were mentioned several times since a few months: how about them when can we expect them?
Somebody wants to add something?
Carl, do you, in other words, mean that:
Wubo Cao places 150 million shares in escrow, he (GTEC) gets 30 million dollar in exchange. So in fact he "sold" his shares for 30/150 = 0.20 $ a share. That sounds like a low price but on the other hand he couldn't sell his shares before because they were restricted.
Or is this my imagination running wild?!
The interview didn't bring anything new. A short explanation of what GTEC is and does. The announcement of the 30 million financing, will be used for LFAA. Really nothing special.
Not everything that is free, is worth doing!
Worth creating an account to watch? Or shouldn't I bother?
John, I agree 100000% with your almost last line: "Because GTEC, imo, should not have agreed to such terms."
But why they did? We'll probably never know. Maybe we should ask next CC? My english isn't that good that I can do that....
Greetings from Holland and GLTA
I cannot imagine they (Wubo, his advisors) haven't taken into account the possible dilution. EPS must have been calculated using the diluted numbers of shares. He is not going to give away 100+ million shares. Thats a worth of more than 20 million dollar!
413 million outstanding 13 june
possible dilution
warrants +75.000.000
notes 30 million / 0.20 = +150.000.000 million (but some of these already in 413 million?)
Worst case:
413 + 75 + 150 = 638 million
eps guaranteed = 0,058 or $38400000
that would mean diluted about 662 million shares > (38400000/662000000=0.058)
I say Wubo is not going to loose his shares in excrow.
NOTE:
I am not an expert, I do NOT know if what I am writing above is 100% right!!!
Greetings from Holland and GLTA
Why not? I really do think so. Cao Wubo wouldn't want to loose 100+millon shares I would say! Or do you think they will fool us on that matter? How can they?
Greetings from Holland and GLTA
John, two things:
First:
I don't really care how many share are outstanding. Because there is a "guarantee" on earnings per share! EPS is the base for valuation of a company. Not the total numbers of shares outstanding or gross profit, just plan and simple: E P S.
Second:
Earlier you questioned the possibility of a reverse split until 2011, because there are notes (or warrants?) outstanding.
They still can do a reverse split, read this (from SEC filing):
Stock Dividends and Stock Splits . If the Company, at any time from and after the Closing Date, while this Note is outstanding: (A) shall pay a stock dividend or otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company pursuant to this Note), (B) subdivide outstanding shares of Common Stock into a larger number of shares, (C) combine (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (D) issue by reclassification of shares of the Common Stock any shares of capital stock of the Company, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding before such event and the denominator shall be the number of shares of Common Stock (excluding treasury shares, if any) outstanding after such event. Any adjustment made pursuant to this Section 3(h)(i) shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.
Greetings from Holland and GLTA
Elsa Sung gets rewarded if uplisting occurs. The bonus is a small amount in comparison with her base salary. Ask yourself:
Is that because:
A. The comopany doesn't think uplisting is possible this year or maybe doesn't want to uplist at all? Then why set a bonus at all?
B. The company thinks uplisting is very realistic scenario and therefore set the bonus not to high because they surely will have to pay out?
I don't know, it just gives me a little bit of hope..
Greetings from Holland and GLTA
John that is exactly why I feel a little bit misled...but I think it surely is possible before 2011. Reverse split is the magic-word.
Who says Ardsley and others want to sell when they can make a few cent per share. My guess is they will want to see a big climb in pps, and they have faith it will. Else they wouldn't have invested that amount of money.
You are in it to see the pps go to $1 and above, aren't you? Me too, I think we all are, we are not going to sell when we make a few dollar on our positions, we want to hit the "jackpot".
So Ardsleu and Pope are almost in the same position as we are. Only they were able to negotiate a better price than we.
But first they have to let the dust settle down and produce some more good Quarterly Reports. In the mean time they can feed us some news about new drugs coming to the market.
John the only option is to do a reverse split 1:20 or so.
You could send her a link to this board. But there always is a chance she already reads here. Maybe she has an alias of her own (Long...?)
Just kidding
News out. But nothing special actually...
900 million shares authorized, we knew that already.
There are 413 million now outstanding?
Quote: " As of June 13, 2008, there were 413,113,760 shares of Common Stock outstanding."
http://app.quotemedia.com/quotetools/showFilingOutline.go?symbol=GTEC&cp=on&name=GENESIS PHARMACEUTICALS ENTERPRISES INC.: PRE 14C&link=http%3A//quotemedia.10kwizard.com/contents.xml%3Fipage%3D5730499
Greetings from Holland and GLTA