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you were wrong about the rising food prices..
commodity prices collapsed. it's time to load up and watch NWD reap the better margins.
you might want to get back in to CAEI now.
just a thought.
New Dragon Asia Corp. (New Dragon) is engaged in the milling, sale and distribution of flour and related products, including instant noodles and soybean-derived products, to retail and wholesale customers throughout China. With a brand name called Long Feng, New Dragon markets its product line through a network of over 200 key distributors and 16 regional offices in 27 Chinese provinces. The Company has eight manufacturing plants in the People's Republic of China (PRC) with an aggregate annual production capacity of approximately 110,000 tons of flour and approximately 1.1 billion packets of instant noodles and 4,500 tons of soybean powder. New Dragon's product breakdown during the fiscal year ended December 25, 2007 (fiscal 2007), was approximately 55% for flour products, 28% for instant noodles and 17% for soybean products.
CAEI taking off.
http://stockcharts.com/h-
sc/ui?s=CAEI&id=p85968149714&def=N&listNum
=11
NWD, taking off
0.170
+0.010 (6.25%)
Feb 23 - Close Open: 0.17 Mkt Cap: 10.36M P/E: 1.60 Dividend: -
High: 0.19 52Wk High: 1.15 F P/E: - Yield: -
this thing is getting ready to take off
Second Quarter Highlights
-- Net revenue increased 78.7% year-over-year to $12.9 million
-- Gross profit increased 38.8% year-over-year to $2.1 million, gross
margin was 16.0%
-- Operating income increased 56.5% year-over-year to $1.6 million
-- Net income increased 111.3% year-over-year to $1.0 million, or $0.02
per fully diluted share
-- Excluding non-cash debt financing expenses, adjusted net income rose
132.7% to $1.4 million, or $0.02 per fully diluted share
-- Successfully completed three construction projects on schedule: phases
one and two of the Tian Fu Garden residential project, phase one of the
Ai Bo Garden residential apartment project and phase two of the
Riverbank Garden Community residential project
-- Secured new construction work with aggregate estimated revenues of RMB
294.2 million ($43 million) and gross profit of $8 million: Ai Bo
Garden Phase Two residential apartment project and the Fu Xing
Committee Bath Center project
CFO diagnosis
Hi Glen,
Mr. Levinson's major responsibility was investor relations. After my appointment as a VP of investor relations in December, Mr. Levinson resigned. There were no disagreements between Mr. Levinson and the company on any matter relating to the company's operations, policies or practices, which resulted in his resignation.
125,000 shares were issued to Mr. Levinson in consideration of him not receiving his 2007 and 2008 option award.
Best,
Jason
Scandalous CFO?
From: Bradford, Glen Richard
Sent: Sunday, February 22, 2009 3:02 PM
To: 'ir@china3cgroup.com'
Hi,
As a prospective investor in CHCG, I noticed Joseph Levinson was your CFO for about the last year. He’s been the CFO of multiple Chinese companies and he’s got a history of resigning from pretty much everything he’s done.
I was curious if I could get his contact information or some sort of justification behind this. He forgo tons of stock option potential by resigning if he actually believes in CHCG.
Thanks in advance and could you please reply to all the people attached in this message?
Glen Bradford
www.glenbradford.com
Lotus Is So Cheap
http://seekingalpha.com/article/121651-lotus-pharma-looks-greatly-underpriced#comment-397943
Lotus Pharmaceuticals, Inc. (LTUS.OB) has bought the rights to Yipubishan, an octreotide acetate injection solution, that treats the symptoms of gastric ulcers and hemorrhages of the upper digestive tract.
Lotus paid 54 million RMB ($7.9 million) for the drug. That was less than its 2008 revenues, which were 67 million RMB ($9.8 million) with a 75% gross profit margin. Lotus projects 75 million RMB of revenue from Yipubishan in 2009 and a 25% per year growth rate through 2011.
Lotus is buying Yipubishan through its “contractually controlled” affiliate, Beijing Liang Fang Pharmaceutical Co., Ltd. Liang Fang already is responsible for distributing Yipubishan in the provinces of Anhui and Inner Mongolia. Along with the rights to Yipubishan, the deal will transfer to Lotus the sales force for the drug in Jiangxi province, Xi'an and Shanghai. Lotus may decide to use that sales force to distribute its own products.
Yipubishan has been on the market since 2004. Its development was supported in part by grants from the Innovation Fund for Small-Medium Technology Based Firms, which is administered by the Ministry of Science and Technology. Yipubishan was the first prescription drug of its kind developed in China to be included in the National Torch Project, which recognizes and promotes commercialization of high-tech discoveries.
Yipuan is currently manufactured by Beijing Si Huan pharmaceutical Co., Ltd., a practice that Lotus will continue.
Lotus says that it has the cash on hand to complete the purchase, which is being paid for in installments over six months. At its most recent accounting (September 30, 2008), Lotus had just $2.6 million in cash. Lotus has also announced a large investment in new facilities located in Inner Mongolia, an investment that includes an industrial park for pharmaceutical companies.
Lotus positioned the purchase as part of its plan to in-license established, successful drugs. The company manufactures its own portfolio of pharmaceuticals, and it also markets drugs for other companies. As part of its distribution network, it owns 10 pharmacies in Beijing.
With 48 million shares outstanding (fully diluted) and a current stock price of $.21, Lotus has a market capitalization of only $10 million. Its 52-week range is $.16 to $1.30. In the first nine months of 2008, the company reported $40.8 million in revenue and $6.4 million of net income. Those numbers suggest that Lotus is greatly underpriced at the moment.
Disclosure: none.
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*
o balabanovj
o 5 Comments
o
Lotus is trading at less than 1/4 of book value as well. They have already paid 17m for the land rights and in addition to their already profitable pipeline of drugs which is giving them a P/E approaching 1, when their plant in Inner Mongolia is completed in 3 or so years, they are going to build a plant to produce IV solutions and medical grade corn starch for those fluids. At present, China is only able to domestically produce 8% of it's IV fluid needs. The rest is imported, so if domestic production is available, where do you think Chinese hospitals are going to produce their fluids from? This plant will be run at full capacity from the moment it opens. If Lotus is able to get this plant up and running, just imagine what their bottom line is going to be or more importantly, what the stock price might be 5 years from now! Additionally, as an incentive to make this move into inner Mongolia, they pay no taxes whatsoever for the first 8 years and a reduced rate for the next 8 years, in addition to reduced VAT. Lotus is also only going to be using 1/10th of the land. The rest is going to be sold/leased to other pharmaceutical companies who wish to take advantage of the Inner Mongolia tax break. This, along with other funding means will help assure Lotus' financial success in getting this project off the ground.
James B. Balaban, M.D.
Feb 20 03:28 AM |Report abuse | Link | Reply
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o balabanovj
o 5 Comments
o
Below is the same comment as above, but without the errors and assumptions!
Lotus is trading at less than 1/4 of book value as well. One very crucial point that you neglected to mention is that they have paid for land usage rights at an industrial park in Inner Mongolia and are just waiting for the final central government permit to begin construction of a new plant. They have already paid 17m for these land rights and in addition to their already profitable pipeline of drugs which is giving them a P/E approaching 1, when their plant in Inner Mongolia is completed in 3 or so years, it will produce IV solutions and medical grade corn starch for those fluids. At present, China is only able to domestically produce 8% of it's IV fluid needs. The rest is imported, so if domestic production is available, where do you think Chinese hospitals are going to get their fluids from? This plant will be run at full capacity from the moment it opens. If Lotus is able to get this plant up and running, just imagine what their bottom line is going to be or more importantly, what the stock price might be 5 years from now! Additionally, as an incentive to make this move into inner Mongolia, they pay no taxes whatsoever for the first 8 years and a reduced rate for the next 8 years, in addition to reduced VAT. Lotus is also only going to be using 1/10th of the land. The rest is going to be sold/leased to other pharmaceutical companies who wish to take advantage of the Inner Mongolia tax break. This, along with other funding means will help assure Lotus' financial success in getting this project off the ground.
James B. Balaban, M.D.
Feb 20 03:46 AM |Report abuse | Link | Reply
0 0
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o balabanovj
o 5 Comments
o
At $0.20/share, this is one stock that most of us could afford to pick up 10,000 shares or so and forget about 'em for the next 4-5 years. That's my plan anyway. I should have picked up more the other day when the shares retreated to their previous 52 week low. I won't let the opportunity pass again.
JBB
Feb 20 04:32 AM |Report abuse | Link | Reply
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o arnolds 134
o 3 Comments
o
looks like a winner
Feb 20 10:58 AM |Report abuse | Link | Reply
0 -1
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o Alanthill
o 1 Comment
o
First they have to achieve their "make-good" target in Q-4...equal to the first three quarters net profit. They will have to ramp up their collection of receivables and delay expenses into Q-1 to make the target. If they fail in this effort expect to see the stock trading at new lows in short order.
Feb 21 11:49 AM |Report abuse | Link | Reply
+2 0
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o Marcap
o 116 Comments
o
Website
I would not be too hasty. More often than not, when a stock is trading at or near its 52 week low, despite what the "published" numbers may otherwise suggest, there is a real good reason for it trading as low as it is. But unfortunately quite often that reason is known only to those privy to such unpublished information, and once made public, it is far too late for the average investor to do anything about it.
Take Friday's trading for example...over 2.5 times the average daily volume, yet the stock still dropped in price almost 10%. In my opinion, that suggests something is very seriously wrong.
On Feb 20 04:32 AM balabanovj wrote:
> At $0.20/share, this is one stock that most of us could afford to
> pick up 10,000 shares or so and forget about 'em for the next 4-5
> years. That's my plan anyway. I should have picked up more the other
> day when the shares retreated to their previous 52 week low. I won't
> let the opportunity pass again.
>
> JBB
Feb 21 12:48 PM |Report abuse | Link | Reply
+1 0
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o Glen Bradford
o 95 Comments
o
Website
I've been covering LTUS, I have a comment for the writer of this article. Adam Wasserman is the CFO of multiple chinese companies. In fact, I'll quote him: "Hi Glen:
Me and my team manages
GHII – Gold Horse International, Inc.
LTUS – Lotus Pharmaceuticals, Inc.
CWSI – China Wind Systems, Inc.
We also are involved with
GNPH – Genesis Pharmaceuticals Enterprises, Inc.
And several US public entities and on a limited basis another Chinese companies with the symbol CAAH.
I leave for China on the 10th to go to LTUS and CWSI.
Adam Wasserman
"
Anyway, the issue most people are going to overlook with LTUS is that they signed into a contractual agreement that they will have problems funding through their working capital. Furthermore, if they are unable to raise additional funding, they lose the whole she-bang. To the author: Look into GHII as well. Write one about that. If you need more companies in china that kick butt, shoot me an e-mail. I'm just glad that this article got published. I've been sending seekingalpha articles on some of these microcaps and they overlook them probably because I don't come from the name. If you would like, I could write a synopsis on several companies and you could send it to them for me.
Thoughts?
Anyway, I talk with Adam frequently... and am knee deep in chinese companies in general.
Feb 21 03:10 PM |Report abuse | Link | Reply
+1 0
*
o Glen Bradford
o 95 Comments
o
Website
Furthermore, if you're aware that LTUS is on sale, why don't you own it?
Where is your credibility? If you're going to say that it's on sale.. Buy it.
I don't let life pass me by.
Glen
haha. not just yet.
i've got equally attractive companies i'm watching. CYXN is just one of them. I can forgo 2 out of 7 opportunities and still be diversified and have a gangbusters portfolio.
get ready ... load up on this one.
if you don't your a baboon. probably the kind with the big red butt.
1 year time line and you aint seen nothing. granted, you might get it a bit cheaper as the firesales continue... happy bidding
Glen
not miserable.. and it's not that low. for example.. if i wanted to buy 5% of the company at $0.07, that would be impossible right now. I've been the bid on this stock the last month or so... stealing this company from the chumps selling it.
There is just a large person slowly dumping this company on the market right now. Load up. Sit on the gold. Wait. Retire filthy rich.
Glen Bradford
i've done everything within my power to buy this company through ameritrade.
good news, i met a few people that specifically run flooring departments in retail and have strong positive opinions on cork flooring..
i plan on investigating this more and possibly opening an account with etrade to trade companies like cyxn and akrk, the two i can't buy through ameritrade.
You fail to see that it was trading low all day except the last 10 minutes where someone put through a large buy order. Nothing changed for this company.
It's probably going to open lower monday.. hopefully. cause i want to buy it cheaper. i want more of this.
Glen
the stock price isn't disappointing. it's invigorating for those smart enough to capitalize on buying a firesale company that actually has merit. I unfortunately can't buy CYXN through ameritrade. Otherwise This would be one of my growing positions. I am a stock picker. Selectivity is crucial to success.
Who cares about a chinese company having an american website? NWD's website crashed 2 weeks ago and caused panic selling down 50%. The site will probably come back up.
Glen Bradford
http://www.glenbradford.com
Mr. Bradford:
I did more research on AKRK, but I was not able to get the reason that we are not accepting opening transactions. I did see that there have been no trades filled on AKRK since February 3. That is for the market as a whole, not just for TD AMERITRADE clients.
If you contact the Investor Relations area at AKRK, they may be able to give you more information about why the security is not being traded.
Thank you,
Clinton Pearcy
Apex Client Services, TD AMERITRADE
Division of TD AMERITRADE, Inc.
Glen, thanks for your further input. Unfortunately, we don't know.
We can only think it is the transfer agent issue. But as you can see, it is very tough to pin down.
Regards,
Frank Hawkins
Chief Executive Officer
Hawk Associates Inc.
Phone: (305) 451-1888
Dear Mr. Bradford,
Thank you for your inquiry about opening a new E*TRADE Securities Complete Investment account and purchasing AKRK. We are very excited to see that you considered E*TRADE for your investment and brokerage needs. After review, I can confirm that you will be able to purchase this stock in your E*TARDE account. You are also capable of linking and managing multiple brokerage accounts for yourself and others.
Glen, thanks for passing this along.
I have, in turn, passed it along to the company's SEC attorney.
Thanks for your interest and initiative.
Regards,
Frank
Frank Hawkins
CEO
Hawk Associates Inc.
Phone: (305) 451-1888
Fhawk@hawkassociates.com
I encountered the same problem when trying to purchase shares the other day on my TD Ameritrade account. Did a little research and found that someone else had the same problem when trying to purchase shares from TD Ameritrade. This is what they said on Yahoo Finance Message Board:
TD Ameritrade does in fact prohibit buying AKRK. You can sell the stock in TD accounts but you can't buy it or even deposit shares to increase your position.
The problem is an old dispute between TD Ameritrade and AKRK's transfer agent that has nothing to do with AKRK. I have talked to TD, the transfer agent, the investor relations firm and AKRK's corporate counsel in NY about this issue and nobody is motivated to resolve it. Essentially what is going on is that somebody within TD's compliance department has blackballed the transfer agent with the apparent intent to do harm to his business. So any stock the transfer agent represents is on TD's banned list. This is a sad story.
I encourage all AKRK investors to contact AKRK's investor relations firm and bring pressure to bear on clearing up this issue:
Hawk Associates Inc.
227 Atlantic Blvd.
Key Largo, FL
33037
Phone:
305.451.1888
305.451.3100
(KMM62069093I30411L0KM)
AMNE
I found a penny stock at $0.0035 that is probably worth $1
That's just my calculations. I called up their CEO. Here are some highlights.
Le Reve: what is happening with amne?
21 Jan 09, 22:10
Auger: heh
21 Jan 09, 22:10
glen: if we dont jump the gun?
21 Jan 09, 22:10
Auger: i am waiting for the morning
21 Jan 09, 22:10
glen: that happens right?
21 Jan 09, 22:10
glen: why dont we just wait for the ask to come down in the morning
21 Jan 09, 22:10
glen: i have an idea
21 Jan 09, 22:09
ck74: i have already typed it in as a buy
21 Jan 09, 22:09
glen: oh well.
21 Jan 09, 22:09
Auger: hey!! iremember who tipped you off ;x
21 Jan 09, 22:08
Auger: lol
21 Jan 09, 22:08
glen: i wanna buy in before you raise the ask
21 Jan 09, 22:08
glen: lol
21 Jan 09, 22:08
Auger: i'm gonna bolster my shares in AMNE tomorrow
21 Jan 09, 22:08
ck74: amne looks hawt
21 Jan 09, 22:08
Auger: i will, i pass through new haven on my way home
21 Jan 09, 22:08
glen: you should go visit them, haha
21 Jan 09, 22:08
Auger: originally that is
21 Jan 09, 22:07
Auger: not far from new haven
21 Jan 09, 22:07
Auger: yeah i'm from CT
21 Jan 09, 22:07
glen: yes.
21 Jan 09, 22:07
Auger: you think they know what they're doing right?
21 Jan 09, 22:07
glen: and the housing market there is better than average
21 Jan 09, 22:07
Auger: did you get this from your conversation?
21 Jan 09, 22:07
glen: but, these guys have been doing this stuff for 15+ years in the conneticut area
21 Jan 09, 22:07
glen: he's just been pushing the company all over the place
21 Jan 09, 22:07
Auger: what does the merging and reverse merging mean?
21 Jan 09, 22:06
Auger: glen just did a boatload of research about them
21 Jan 09, 22:06
glen: they are about 20 strong
21 Jan 09, 22:06
glen: they've been merging and reverse merging for a while
21 Jan 09, 22:06
Auger: that's my bet !
21 Jan 09, 22:06
Auger: AMNE
21 Jan 09, 22:06
ck74: who?
21 Jan 09, 22:06
Auger: yeah
21 Jan 09, 22:06
glen: they have "Green" insulation
21 Jan 09, 22:06
glen: profit margins are increasing
21 Jan 09, 22:06
glen: they are in a profitable nitch already
21 Jan 09, 22:05
Auger: haha
21 Jan 09, 22:05
glen: hes probably going to acquire some debt
21 Jan 09, 22:05
glen: he knew more vocabulary than me.
21 Jan 09, 22:05
Auger: hrm
21 Jan 09, 22:05
glen: the guy is lucid
21 Jan 09, 22:05
Auger: haha
21 Jan 09, 22:05
glen: the guy has connections
21 Jan 09, 22:05
Auger: what's the report??
21 Jan 09, 22:05
glen: alright.
21 Jan 09, 22:04
ck74: i think the LONG TERM they will do ok.. BUT will need recovery of the auto industry to really take off again
21 Jan 09, 22:04
Auger: but hey trust your gut
21 Jan 09, 22:03
Auger: but i changed my mind
21 Jan 09, 22:03
Auger: i was thinking the same thing
21 Jan 09, 22:03
ck74: correct i think i am gonna gamble on them
21 Jan 09, 22:03
Auger: they have huge payments coming
21 Jan 09, 22:03
Auger: if their shares don't take off they're gonna go bankrupt
21 Jan 09, 22:03
ck74: not rightnow they ust are reworkingcuz they took xm over.
21 Jan 09, 22:03
ck74: they are gonna do good at superbowl
21 Jan 09, 22:02
Auger: sirius is flirting with bankruptcy
21 Jan 09, 22:01
ck74: siri
21 Jan 09, 22:01
ck74: sirius
21 Jan 09, 22:00
Auger: what stock?
21 Jan 09, 21:58
ck74: wouldyou go after a stock with a possable reverse split coming?
21 Jan 09, 21:57
Auger: must be a good convo?
21 Jan 09, 21:57
tocamix90: w t f
21 Jan 09, 21:57
glen: phone still
21 Jan 09, 21:48
Auger: oh man i'm eagerly awaiting the results of this phone call
21 Jan 09, 21:44
Auger: 8:45
21 Jan 09, 21:44
SuperTrader: as i do most of the time
21 Jan 09, 21:44
SuperTrader: It's kind of late there, I suspect you will get the machine
21 Jan 09, 21:42
Auger: i'll be waiting : )
21 Jan 09, 21:42
glen: on phone
21 Jan 09, 21:40
Auger: haha awesome
21 Jan 09, 21:40
glen: haha
21 Jan 09, 21:40
glen: calling ceo
21 Jan 09, 21:40
Auger: its got some contact info
21 Jan 09, 21:39
Auger: is their website, i'm sure you already knew that though
21 Jan 09, 21:39
Auger: http://www.sprayfoamnation.com/home.php?cat=0
21 Jan 09, 21:39
Auger: not that
21 Jan 09, 21:39
Auger: whoops
21 Jan 09, 21:39
Auger: http://www.marketwire.com/press-release/American-Green-Group-Inc-936722.html
21 Jan 09, 21:38
glen: i figure average salary is $50K
21 Jan 09, 21:38
Auger: ah
21 Jan 09, 21:38
glen: depends how many people are employed
21 Jan 09, 21:38
Auger: so they got enough overhead to cover it
21 Jan 09, 21:38
glen: i'm trying to figure out how many people work for AMNE now
21 Jan 09, 21:38
glen: 1.2M is your gross margin
21 Jan 09, 21:38
glen: http://investorshub.advfn.com/boards/board.aspx?board_id=7107
21 Jan 09, 21:37
SuperTrader: KEME is looking good for the morning susie
21 Jan 09, 21:37
SuperTrader: but, if the stock goes up you could lose who knows how much
21 Jan 09, 21:37
Trader gal: whats looking good for tomorrow
21 Jan 09, 21:37
Auger: glen you're gonna have to fill me in, i'm not quite following your math
21 Jan 09, 21:37
SuperTrader: and make the difference
21 Jan 09, 21:36
SuperTrader: then when the price goes down, you can buy the shares cheaper to cover your short sell
21 Jan 09, 21:36
glen: 4M*.3=1.2M
21 Jan 09, 21:36
glen: 2.5+1.5M=4M
21 Jan 09, 21:36
SuperTrader: sweet toca
21 Jan 09, 21:36
SuperTrader: If you shorting something you are basically selling shares you dont really own at the price that they are at
21 Jan 09, 21:35
Auger: i'm glad i asked for your opinion ;x
21 Jan 09, 21:35
tocamix90: up to 1.15 after hours
21 Jan 09, 21:35
Auger: nice digging
Hey Asylum,
I've been watching what you guys are doing.
I might try and best pizza sauce.
Let's see what he's got.
Glen
China Yongxin Pharmaceuticals, Inc. (CYXN): Profitable Company ...
International Business Times - Dec 17, 2008
1228310916
1277131213
Stockguru.com: Stocks to Watch for December 3, 2008 - SCLX, VSUL, ...
Manufacturing Business Technology - Dec 3, 2008
1228226881
1276872725
China Yongxin Pharmaceuticals, Inc. Establishes Retailing Chain...
CNNMoney.com - Dec 2, 2008
great company.. unfortunately ameritrade wont let me buy it.
http://www.glenbradford.com
the bid is higher than the last trade price.
this company rules. i ran the discounted cash flows on revenues and net income, this company is growing like a tree on stereroids...
with growth of 30% plus and a P/E as cheap as it is.. the only issue i have is low volume.. and the fact that ameritrade wont let me buy it...
http://www.glenbradford.com
hey invisible hand.. it's gbrad86, this is the tag i'm going to use from now on.. i had to have a moderator fix my account..
this company is growing its backlog and eating expenses 2008 so that it can bust out an incredible 2009. get ready. i'm loading.
you might be a fool for selling. might not be.
•
NASDAQ has extended its suspension of the rules requiring a minimum $1
closing bid price and a minimum market value of publicly held shares
(MVPHS).
•
These rules will be reinstated on Monday, April 20, 2009.
in the short run, this market is a retarded voting machine that suffers from electrical surges. in the long run ... it's a weighing machine.. CAEI weighs in at about $15 for me.
Selling at $1 is baboon. But hell, you may get it cheaper cause of Nasdaq regulations and funds dumping.. it just got put on the...
Halter USX China Index Announces 2008 Results and Adds New ...
www.glenbradford.com
www.glenbradford.com
LTUS News yesterday, Lotus Pharmaceuticals announced that contractually controlled Beijing Liang Fang Pharmaceutical Co., Ltd. ("Liang Fang") entered into an intellectual rights transfer contract with Beijing Yipuan Bio-Medical Technology Co., Ltd. ("Yipuan") in December 2008 to acquire the drug Yipubishan, a highly effective and stable octreotide acetate injection solution, according to a clinical research report issued by Beijing Union Medical College Hospital Center for Clinical Pharmacology, used to treat the symptoms of gastric ulcers and hemorrhages of the upper digestive tract since 2004.
the issue with lotus for me is that their huge loan in inner mongolia could default of they dont get a bank loan.. and then they lose all their investment..
good news! adam wasserman is on the job... and he's a great CFO.
even if they lose their investment, they're selling at less than book value and will grow! yay! big money!
http://www.glenbradford.com
Orsus Xelent Sees 16% Gain in Revenues in 2008: Despite Economic Environment Anticipates Sales in 2009 Will Grow More Than 15% as It Begins to Broaden Product Lines
Highlighted Links
Orsus Xelent Technologies
NEW YORK, NY--(Marketwire - December 30, 2008) - At the annual meeting held today for Orsus Xelent Technologies, Inc. (AMEX: ORS), a designer and manufacturer of award-winning mobile phones for the Asian market, Mr. Wang Xin, the Company's CEO, updated guidance for the year ending December 31, 2008.
In his comments to shareholders, Mr. Wang stated, "In the face of the ongoing restructuring of the Chinese telecommunications market and the deteriorated economic and financing conditions, which led to increased competition, in 2008 we pursued a successful strategy of focusing on sales of lower end handsets mainly in China's rural areas. This has permitted us to achieve still another year of double digit growth and helped us to maintain our market position."
"I am pleased to report that for the full year of 2008," Mr. Wang said, "our results are expected to be slightly above the low end of the 15% to 20% range we had projected, with revenues currently estimated to exceed $104.3 million, or approximately 16% ahead of results in 2007."
He added that "the Company expects to achieve a profit in 2008, however, it is too early to disclose a specific number."
Reflecting the Company's strategy, approximately 83% of the Company's phone sales in 2008 were phones priced below 1500RMB per unit. Nevertheless, these phones offered a very competitive array of features and highly appealing designs which proved attractive to customers.
Another Year of Growth in 2009 Despite Economic and Financing Hurdles
"In 2008, we were hampered by both external industry and economic conditions and an inability to achieve a level of financing that would have permitted a stronger R&D effort as well as the acquisition of a manufacturing facility. We believe this acquisition also would help generate further improvement in margins and an ability to improve our reaction to changes in the marketplace," Mr. Wang said.
"Going into 2009, we continue to seek the financing necessary to complete our target acquisition of Dalian Daxian Investment Development Co. LTD, which is currently on hold. In this regard, we would hope that our strong track record of success as a public company will help us achieve our goals in this area which we think will solidify our growth prospects," he added.
"At the same time," he said, "we do expect to be able to begin to broaden our product line again in 2009, in particular with respect to 1) the distribution of 3G products which we believe could contribute 15% of our total sales, 2) entering new markets like CMMB (China Multimedia Mobile Broadcasting) which could account for 5% of total sales, and 3) increased collaboration with telecom operators and professional customers which could account for 20% of sales. In general, we will continue to focus on the Company's traditional strengths, through which we expect to see steady improvement in our GSM products."
"Recognizing the constraints of the economic environment, we nevertheless believe that the strategy we have in place for 2009 will generate a profitable sales increase of at least 15% compared with the current year, which we believe can be achieved without additional equity financing or our completion of the targeted acquisition as previously discussed. We hope this proves to be conservative if the economic environment shows sign of improvement and we can achieve our financing and acquisition goals," Mr. Wang said.
About Orsus Xelent Technologies, Inc.
Incorporated in the State of Delaware and headquartered in Beijing, China, Orsus Xelent Technologies, Inc. is an emerging designer and manufacturer of award-winning mobile phones for the Asian market, primarily the People's Republic of China ("PRC"). The Company's business encompasses the design of mobile phones, related digital circuits, and software development, and it is a recognized pioneer in mobile phone integration technology. It introduced the region's first wristwatch-style cellular phone, and it continues to break new ground with state-of-the-art phones that include advanced features such as fingerprint recognition and touch-screen displays. The Company also is focused on developing and marketing, under its Proxlink trademark, special application mobile phones for specialized users in a wide variety of professions in business and government. Since the Company's launch in 2004, it has established "Orsus" as a popular brand and achieved a significant share of the world's largest mobile phone market. It maintains more than 179 service call centers across the PRC, with additional offices in Shanghai, Hong Kong, Shenzhen, and Tianjin. For more information, please visit the Company's web site: www.orsus-xelent.com.
Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.
http://www.glenbradford.com
gbrad86 to disappear:
this is my new alias...
NWD is definately a BUY with a time frame 2+ years..
there is a catalyst at $0.83
care to guess what that catalyst is?
Mr Mak's original employment contract with New Dragon Asia expired in December 2008. Although Mr Mak had been in discussions with the company's board of directors to extend his employment agreement, he ultimately decided to end his tenure due to family obligations.
Ling Wang, director and chief accounting officer, will assume Mr Mak's duties. The company has commenced a search for a new CFO.
Heng Jing Lu, chairman of New Dragon Asia, said: "On behalf of the board of directors of New Dragon Asia, I would like to thank Peter Mak for his service to the company over the last four years. Mr Mak has played an important role in our company's development and we wish him all the best in his future endeavors."
http://www.datamonitor.com
Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon
For when gbrad86 gets disabled:
Gold Horse International, Inc. Announces Strong Results for Second Quarter Fiscal 2009
* Wednesday February 18, 2009, 8:00 am EST
* Yahoo! Buzz
* Print
HOHHOT, China, Feb. 18 /PRNewswire-Asia/ -- Gold Horse International, Inc., (OTC Bulletin Board: GHII - News; "Gold Horse" or "the Company"), a multifaceted business group that controls and operates a construction company, real estate development business and a hotel in Inner Mongolia, China, today provided its financial results for the three and six months ended December 31, 2008.
Second Quarter Highlights
-- Net revenue increased 78.7% year-over-year to $12.9 million
-- Gross profit increased 38.8% year-over-year to $2.1 million, gross
margin was 16.0%
-- Operating income increased 56.5% year-over-year to $1.6 million
-- Net income increased 111.3% year-over-year to $1.0 million, or $0.02
per fully diluted share
-- Excluding non-cash debt financing expenses, adjusted net income rose
132.7% to $1.4 million, or $0.02 per fully diluted share
-- Successfully completed three construction projects on schedule: phases
one and two of the Tian Fu Garden residential project, phase one of the
Ai Bo Garden residential apartment project and phase two of the
Riverbank Garden Community residential project
-- Secured new construction work with aggregate estimated revenues of RMB
294.2 million ($43 million) and gross profit of $8 million: Ai Bo
Garden Phase Two residential apartment project and the Fu Xing
Committee Bath Center project
Second Quarter Results
For the second quarter of fiscal year 2009, net revenue was $12.9 million, up 78.7% from $7.2 million in the same quarter of 2007. Construction revenue was $11.9 million, or 92.2% of net revenue, up from $6.2 million, or 85.6% of net revenue, for the three months ended December 31, 2007. The significant increase was mainly due to several major construction projects: River Bank Garden (buildings 5 to 8 and phase two), Tian Fu residential project (phases one and two), the Ai Bo Garden residential apartment project (phase one and two), the Lanyu Garden Number 3 Residential Project and the Fu Xing Committee Bath Center project. Revenue from the hotel segment was $0.9 million, up 19.6% from $0.7 million in the same quarter prior year and revenue from the real estate segment was $0.1 million, down 54.0% from $0.3 million a year ago due to the Company's sale of its remaining real estate inventory and refocused business strategy to concentrate on its construction segment.
"Our strong second-quarter results reflect the continued success of our experienced management team in executing a business strategy that capitalizes on our excellent government relationships and core competencies in construction and project management," said Mr. Liankuan Yang, chairman and CEO of Gold Horse International, Inc. "Given our established presence in an expanding region and the Chinese government's stimulus plan to foster real estate and infrastructure construction, we are confident that we will secure additional profitable projects to meet our guidance for 2009."
Gross profit for the quarter was $2.1 million, up 38.8% from $1.5 million for the same quarter last year. Gross margin was 16.0%, down from 20.6% compared to the same period prior year. The decrease in gross margin was primarily due to increases in costs for building supplies and labor costs incurred on projects.
Operating expenses for the quarter were $0.5 million, or 3.5% of net revenue, down slightly for the three months ended December 31, 2007, or 6.3% of net revenue. While the Company incurred higher depreciation and amortization expenses, operating expenses decreased slightly due to decreases in salaries and employee benefits and general and administrative expenses.
Operating income for the quarter was $1.6 million, up 56.5% from $1.0 million for the same period prior year. Operating margin was 12.5% for the quarter, compared to 14.2% for the same period in 2007.
Net income for the quarter was $1.0 million, or $0.02 per fully diluted share, compared to net income of $0.5 million, or $0.01 per fully diluted share, for the same period prior year. Excluding non-cash debt financing expenses, adjusted net income was $1.4 million, or $0.02 per fully diluted share compared with adjusted net income of $0.6 million, or $0.01 per fully diluted share, a year ago.
Six Months Results
Net revenue for the six months ended December 31, 2008 was $42.3 million, up 150.7% from $16.9 million in the same period prior year. Construction revenue was $40.3 million, or 95.1% of net revenue, up 186.4% from $14.1 million, or 83.3% of net revenue, in the same period of 2007. Revenue from the hotel segment was $1.7 million, or 4.0% of net revenue, up 7.2% from $1.6 million, or 9.3% of net revenue, in the same period prior year. Revenue from the real estate segment was $0.4 million, or 0.9% of net revenue, down 69.6% from $1.3 million, or 7.4% of net revenue, in the same period prior year. Gross profit was $6.5 million, or 15.4% of net revenue, up 91.0% from $3.4 million, or 20.2% of net revenue for the same period of last year. Operating income was $5.7 million, or 13.4% of net revenue, up 154.1% from $2.2 million, or 13.2% of net revenue, in the same period of 2007. Net income was $3.4 million, or $0.06 per fully diluted share, up 180.3% from $1.2 million, or $0.02 per fully diluted share in the same period of 2007. Excluding non-cash debt financing expenses, adjusted net income was $4.3 million, or $0.07 per fully diluted share for the six months ended December 31, 2008, compared with adjusted net income of $1.4 million, or $0.02 per fully diluted share, in the same period last year.
Financial Condition
As of December 31, 2008, Gold Horse had $0.2 million in cash and cash equivalents, $10.0 million in working capital and a current ratio of 2.1 to 1. At quarter end the Company had short-term debt, including the unamortized discount on the Company's convertible debt, of $2.3 million and long-term debt of $4.4 million. Shareholders' equity stood at $25.3 million, up from $21.8 million as of June 30, 2008. Cash used in operating activities during the first half of fiscal 2009 was $5.2 million, and was used to fund construction in progress and accounts receivable. The Company is currently in negotiations with several banks and expects to secure short-term bank loans by the end of the third quarter of fiscal 2009. In addition, the Company has established a special committee to accelerate collections of accounts receivable in order to improve cash flow.
Business Outlook
For fiscal year 2009, Gold Horse expects to generate combined revenue of approximately $90.0 million from its construction, hotel management and real estate development operations. The construction division is expected to generate the majority of revenue in fiscal 2009 due to the number of construction projects in progress and management's strategy to selectively bid on profitable projects. The hotel management segment is expected to remain consistent with fiscal 2008. For the real estate segment, continued interest rate cuts and the Chinese central government's commitment to offer more affordable property in its effort to weather the current global financial crisis should stimulate the real estate sector over time. Currently the Company expects to receive annual payments from projects built by Gold Horse and sold to educational institutions.
"We see many potential business opportunities for our construction business, especially given the Chinese government's recent allocation of RMB 4 trillion to encourage affordable housing, rural development and infrastructure projects in response to the current global financial crisis. In addition, the Chinese government continues to foster the real estate market by lowering interest rates," commented Mr. Yang. "While the near term impact of these measures is not clear, we believe they provide favorable long term benefits for our construction and real estate development businesses," added Mr. Yang.
Conference Call
The Company will host a conference call at 9:00 AM Eastern Standard Time on Wednesday, February 18, 2009 to discuss results for the quarter ended December 31, 2008. To participate in the conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: 888-339-2688. International callers should dial 617-847-3007. The passcode for the call is 722-936-38. If you are unable to participate in the call at this time, a replay will be available for 14 days starting from Wednesday, February 18 at 11: 00 AM Eastern Standard Time. To access the replay, dial 893-541-79. International callers should dial 617-801-6888. The conference passcode is 893-541-79.
Use of Non-GAAP Financial Information
GAAP results for the three month and six month periods ended December 31, 2008 and for the three and six months ended December 31, 2007 include certain non-cash debt financing expenses. To supplement the Company's condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information, which are adjusted net income and adjusted fully diluted earnings per share, excluding the impact of these items in this release. The Company's management believes that these non-GAAP measures provide investors with a better understanding of how the results relate to the Company's historical performance. A reconciliation of adjustments to GAAP results appears below (Table 2). This additional non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information that the Company provides also may differ from the non-GAAP information provided by other companies.
About Gold Horse International, Inc.
Gold Horse International, Inc., through its wholly owned subsidiaries, Gold Horse International, Inc. (Nevada) and Global Rise International Ltd., controls and operates Inner Mongolia Jin Ma Construction Co., Ltd., Inner Mongolia Jin Ma Hotel Co., Ltd., and Inner Mongolia Jin Ma Real Estate Development Co., Ltd., all based in Hohhot, the regional capital of Inner Mongolia Autonomous Region in China. Jin Ma Construction has been providing construction and general contractor services in Hohhot to both private developers and to the local and regional governments since 1980. Jin Ma Hotel owns, operates and manages the Jin Ma Hotel, a full-service, two-star hotel and restaurant and banquet facility located in Hohhot. Jin Ma Real Estate develops residential and commercial properties in Hohhot.
Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties such as the ability of the Company to secure short term bank loans and accelerate collection of receivables, lack of materials, projected earnings not realized and other risks of construction that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its Web site (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
- Financial Tables Follow -
Table 1
GOLD HORSE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
For the Three For the Six
Months Ended Months Ended
December 31, December 31,
2008 2007 2008 2007
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
NET REVENUES
Construction $11,894,829 $6,177,624 $40,273,271 $14,061,393
Hotel 858,378 717,526 1,687,464 1,573,712
Real estate 149,490 324,714 382,190 1,255,528
Total Revenues 12,902,697 7,219,864 42,342,925 16,890,633
COST OF REVENUES
Construction 10,207,643 5,177,403 34,590,647 11,867,776
Hotel 475,448 379,225 921,535 861,604
Real estate 157,087 177,375 300,303 742,029
Total Cost of
Revenues 10,840,178 5,734,003 35,812,485 13,471,409
GROSS PROFIT 2,062,519 1,485,861 6,530,440 3,419,224
OPERATING EXPENSES:
Hotel operating
expenses 16,659 21,138 32,290 56,314
Bad debt expense
(recovery) (11,285) 6,797 (193,901) 307,691
Salaries and
employee benefits 150,307 184,297 301,848 318,498
Depreciation and
amortization 209,654 126,690 438,257 226,116
General and
administrative 87,151 118,256 294,479 283,727
Total Operating
Expenses 452,486 457,178 872,973 1,192,346
INCOME FROM OPERATIONS 1,610,033 1,028,683 5,657,467 2,226,878
OTHER INCOME (EXPENSES):
Other income (expense) 2,086 (1,672) 2,378 (1,672)
Interest income 551,373 2,027 552,318 2,114
Interest expense (671,835) (227,692) (1,336,226) (292,405)
Total Other Expenses (118,376) (227,337) (781,530) (291,963)
INCOME BEFORE PROVISION
FOR INCOME TAX 1,491,657 801,346 4,875,937 1,934,915
PROVISION FOR INCOME
TAXES 500,236 332,158 1,500,742 730,857
NET INCOME $991,421 $469,188 $3,375,195 $1,204,058
COMPREHENSIVE INCOME:
NET INCOME $991,421 $469,188 $3,375,195 $1,204,058
Unrealized foreign
currency
translation gain 9,130 398,951 63,724 558,025
COMPREHENSIVE INCOME $1,000,551 $868,139 $3,438,919 $1,762,083
NET INCOME PER COMMON
SHARE:
Basic $0.02 $0.01 $0.06 $0.02
Diluted $0.02 $0.01 $0.06 $0.02
WEIGHTED AVERAGE COMMON
SHARES OUTSTANDING:
Basic 52,625,473 51,161,837 52,585,038 50,580,920
Diluted 58,971,403 59,434,147 58,930,968 55,902,121
Table 2
Gold Horse International, INC.
RECONCILIATION OF NON-GAAP FINANCIAL DATA
For the three For the three
Months ended Months ended
Adjusted Net income December 31, 2008 December 31, 2007
($ in thousands except per
share data)
Net Income (Loss) Net Diluted Net Diluted
Diluted EPS Income EPS Income EPS
Adjusted Amount 1,439 0.02 618 0.01
Adjustments
Interest expense from
amortization of
debt discount 409 -- 136 --
Amortization of debt
issuance costs 38 -- 13 --
Amount per consolidated
statement of operations 991 0.02 469 0.01
For the Six For the Six
Months ended Months ended
Adjusted Net income December 31, 2008 December 31, 2007
($ in thousands except per
share data)
Net Income (Loss) Net Diluted Net Diluted
Diluted EPS Income EPS Income EPS
Adjusted Amount 4,271 0.07 1,353 0.02
Adjustments
Interest expense from
amortization of
debt discount 819 0.01 136 --
Amortization of debt
issuance costs 77 -- 13 --
Amount per consolidated
statement of operations 3,375 0.06 1,204 0.02
Table 3
GOLD HORSE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
As of As of
December 31, June 30,
2008 2008
(Unaudited)
ASSETS
Cash and cash equivalents $243,983 $1,637,986
Accounts receivable, net 11,554,905 7,528,608
Note receivable, net
- current portion 158,618 --
Inventories, net 41,579 56,847
Advances to suppliers, net 98,038 95,754
Other receivable, net 28,761 35,478
Due from related parties 43,074 1,700,036
Deferred debt costs 38,370 115,110
Real estate held for sale -- 125,070
Cost and estimated earnings in
excess of billings 5,103 221,537
Construction in progress 5,084,686 4,537,240
Deposit on prepaid land use rights 1,889,419 2,524,877
Prepaid land use rights
- current portion 3,570 3,561
Refundable performance deposit -- 145,522
Total Current Assets 19,190,106 18,727,626
Property and equipment, net 10,082,495 10,476,397
Note receivable - non-current
portion, net 8,641,523 --
Deposit on prepaid land use rights 802,428 2,182,835
Prepaid land use rights
- non-current portion 163,951 165,312
Total Assets $38,880,503 $31,552,170
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Convertible debt, net $1,773,687 $955,062
Loans payable, current portion 259,695 145,522
Accounts payable 5,436,970 1,278,779
Accrued expenses 596,891 468,235
Taxes payable 839,027 2,215,381
Advances from customers 194,888 192,356
Billings in excess of costs and
estimated earnings 51,228 23,369
Total Current Liabilities 9,152,386 5,278,704
Loans payable, net of current portion 4,387,967 4,490,235
Total Liabilities 13,540,353 9,768,939
Commitments (Note 16) -- --
Stockholders' equity:
Preferred stock ($.0001 par value;
20,000,000 shares authorized; none
issued and outstanding) -- --
Common stock ($.0001 par value;
300,000,000 shares authorized;
52,668,603 and 52,544,603 shares
issued and outstanding at
December 31, 2008 and June 30, 2008) 5,266 5,254
Non-controlling interest in variable
interest entities 6,095,314 6,095,314
Additional paid-in capital 4,689,166 4,571,178
Statutory reserve 1,665,779 1,216,292
Retained earnings 10,451,852 7,526,144
Other comprehensive income 2,432,773 2,369,049
Total Stockholders' Equity 25,340,150 21,783,231
Total Liabilities and
Stockholders' Equity $38,880,503 $31,552,170
Table 4
GOLD HORSE INTERNATIONAL, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six Month Ended
December 31,
2008 2007
(Unaudited) (Unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $3,375,195 $1,204,058
Adjustments to reconcile net income
to net cash (used in) provided by
operating activities:
Depreciation 438,257 226,116
Rent expense associated with
prepaid land use rights 1,786 --
Bad debt expense (recovery) (193,901) 307,691
Interest expense from amortization
of debt discount 818,625 136,437
Amortization of debt issuance costs 76,740 12,790
Recognition of unearned gain (51,735) --
Changes in assets and liabilities:
Accounts receivable (3,847,036) 754,410
Note receivable 200,378 --
Inventories 15,417 (30,785)
Other receivables 40,119 154,832
Advance to suppliers (2,038) (86,010)
Costs and estimated earnings in
excess of billings 217,038 14,289
Real estate held for sale 125,412 647,237
Construction in progress (9,486,120) (978,031)
Refundable performance deposit 145,920 --
Accounts payable and accrued expenses 4,283,475 (642,811)
Taxes payable (1,382,271) (280,423)
Advances from customers 2,038 (459,089)
Billings in excess of costs and
estimated earnings 27,804 (124,843)
NET CASH (USED IN) PROVIDED BY
OPERATING ACTIVITIES (5,194,897) 855,868
CASH FLOWS FROM INVESTING ACTIVITIES:
Repayment of amounts due from
related party 1,661,601 36,128
Proceeds from sale of property and
equipment -- 1,451
Proceeds from return of deposit on
prepaid land use rights 2,028,288 --
Payment of deposits for prepaid
land use rights -- (732,722)
Purchase of property and equipment (17,384) (1,854,866)
NET CASH PROVIDED BY (USED IN)
INVESTING ACTIVITIES 3,672,505 (2,550,009)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from convertible debt -- 2,183,000
Payment of placement fees -- (204,640)
Repayment of loans payable -- (133,222)
Proceeds from sale of common stock 118,000 2,219,252
NET CASH PROVIDED BY FINANCING
ACTIVITIES 118,000 4,064,390
EFFECT OF EXCHANGE RATE ON CASH 10,389 68,065
NET (DECREASE) INCREASE IN CASH & CASH
EQUIVALENTS (1,394,003) 2,438,314
CASH & CASH EQUIVALENTS
- beginning of period 1,637,986 251,044
CASH & CASH EQUIVALENTS
- end of the period $243,983 $2,689,358
SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION:
Cash paid for:
Interest $193,043 $801,336
Income taxes $2,308,429 $946,591
Called into this one..
Asked the question referring to 2009 revenue guidance.
it does not include the wind power facility.