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Re-Stated financials posted.
Looks like they have corrected an overstatement of revenue and net income for 2012 quarter 1 and 2, the overstatement Lokked to be about a million in revenue and a couple million in net income. For net income it changed from 12 million to about 10 million...not a huge deal. The CEO and CFO also signed attesting to the results...they had not done that before per Sarbanes-Oxley.
Financials are still unaudited.
What effect? Seems none...not sure if more restatements are to come... Anyone know?
That's good news. Maybe it is because I'm on an iPad and an iPhone. Just get a blank box pop up.
Looks like the halt will continue until they release more info. Still a T2.
The video does not load for me. Anyone else get it to play? Any thoughts?
RD,
I tend to agree with you and I hope they are putting together something. But I have to wonder if even the best rebuttal will have any effect against the fear of Chjna RTOs, the basic Chinese discrimination, the fact there are so many short sellers...I hope we hear something soon. Should be okay for them to do a release to tell us if they are preparing something as another said earlier. Maybe that message will produce something.
I am far from convinced by that geo report.
Train transport is the biggest hole in their case and your point about the acquisition is a valid one too. Sad what a little media can create at times...fear tactics are everywhere...
Best to you.
I think lots of Wall St people will publish a report like this and they profit handsomely when they trade the stock today...all loaded up short yesterday I'm sure. And they make money on all the people they tell they are doing it with...I'm sure there is a group of them...obviously a couple of their crew (or a few who are not part of the crew...or that the crew pissed off...) leaked those photos someone was posting yesterday or day before...
Am I off on this?? So this should be interesting.
Seems like LPH would need to show that business is indeed occurring. Either produce invoices from clients or post a live video cam and or get media involved with a story. Ideas? Would it matter?
Bring in another auditor??
I feel the report is sketchy as they can't provide conclusive evidence either...those photos and supposed videos can't be confirmed to be real. And saying yoire sending them to the SEC proves nothing.. But I course I know you can't prove them false...or can you?
How many trust GEO?
Do they have an auditor? I didn't see one listed on the quarterly report.
So earnings around the 15th this month? Any expectations?
Thanks,
Nealio
Broke 1M shares with 1:45 hrs to go(that was amount of shares traded yesterday)...great sign for further price increase. Anyone have a short term target?
Golden Cross; supposed to be VERY bullish. Can anyone confirm?
Wow! Nice breakout. Anyone else still holding this? I saw a price target of 4.50 by at least one analyst, anyone have any other price targets? Looks to be going well over $4 or am I wrong?
News: the former CFO has been hired on an interim basis until a new CFO can be hired. I assume this is to complete the annual earnings report. Maybe it is just to get am official signature on that document. Hmm stock seems to have a muted response to this. No real movement. So we wait for earnings early next month.
CHGY earnings are due around March 1.
Here is a well written assessment of CHGY's current situation. Comments?
CHGY is scheduled to file it's annual report on March 1. I will not be surprised in the least if they request an extension (as they did last year, even with a CFO in place). I am expecting a minimum of .53 cents a share and more likely in the neighborhood of .60 in earnings. They have ramped up their mining activities, increased their coal trading business and extended the reach of Heat and Power to additional customers. In 2010 they earned .39 for the entire year. This year they earned .42 through Q-3. Before 2010, CHGY received a significant government subsidy in Q-4 for providing heat at below market rates. In 2010 they received the subsidy in Q-3. In 2011 there has been minimal subsidy payments received through Q-3. Unless the government has abandoned the subsidy (hard to believe because they regulate the below market rates) CHGY should have received a whopping subsidy in Q-4. If you couple the anticipated subsidy payment with the strong earnings from the coal group we should see approximately .60 per share in earnings. Even if no subsidy is paid in Q-4 earnings will be approximately .53 per share, a 33% increase over 2010 earnings, even without the subsidy. So, place your bets. Do you believe, as some do here, that CHGY is a scam set up only to benefit Mr. Ding, or do you believe this is a legitimate enterprise, with exceptional management that has established themselves as a primary coal supplier in Inner Mongolia. CHGY is not without it's warts (they care little for shareholder communications, financial controls obviously need tightening, and most importantly they have been slow to identify additional accretive coal mine acquisitions........the primary catalyst that will propel the stock above the pennies it currently trades for.) All that being said, I am a happy shareholder at these levels, and hope to see a return to a more realistic PPS sooner rather than later.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=68182&tid=3598&mid=3598&tof=2&frt=2
Well written post on anticipated earnings and the facts around the company at this date:
CHGY is scheduled to file it's annual report on March 1. I will not be surprised in the least if they request an extension (as they did last year, even with a CFO in place). I am expecting a minimum of .53 cents a share and more likely in the neighborhood of .60 in earnings. They have ramped up their mining activities, increased their coal trading business and extended the reach of Heat and Power to additional customers. In 2010 they earned .39 for the entire year. This year they earned .42 through Q-3. Before 2010, CHGY received a significant government subsidy in Q-4 for providing heat at below market rates. In 2010 they received the subsidy in Q-3. In 2011 there has been minimal subsidy payments received through Q-3. Unless the government has abandoned the subsidy (hard to believe because they regulate the below market rates) CHGY should have received a whopping subsidy in Q-4. If you couple the anticipated subsidy payment with the strong earnings from the coal group we should see approximately .60 per share in earnings. Even if no subsidy is paid in Q-4 earnings will be approximately .53 per share, a 33% increase over 2010 earnings, even without the subsidy. So, place your bets. Do you believe, as some do here, that CHGY is a scam set up only to benefit Mr. Ding, or do you believe this is a legitimate enterprise, with exceptional management that has established themselves as a primary coal supplier in Inner Mongolia. CHGY is not without it's warts (they care little for shareholder communications, financial controls obviously need tightening, and most importantly they have been slow to identify additional accretive coal mine acquisitions........the primary catalyst that will propel the stock above the pennies it currently trades for.) All that being said, I am a happy shareholder at these levels, and hope to see a return to a more realistic PPS sooner rather than later.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/threadview?m=tm&bn=68182&tid=3598&mid=3598&tof=2&frt=2
Has anyone ever looked into suing Cheng in Chinese courts? Is there any avenue there? How much would it cost (is it cheap in China, cOmpared to US)?
At what point is he commuting fraud or negligence in not reporting anything about the financial state or operations to the shareholders?
Thoughts?
Quarterly Report: delay notice filed and info about revenue and profit given in delay notice. Looks like a good report with big increases in revenue and earnings. Should see a pop when the report is released.
Not that I'm saying I know if they are still a going business or not but this video shows all the things you were raving about:
I didn't think it had been stated that it was an 'independent' investigation. I guess I missed it.
Thanks,
Nealio
Please comment on the following I found on page 13 (note the last sentence states an independent investigation is ongoing):
That Deloitte resigned likewise does not support a reasonable inference that the
Company’s prior financial statements were materially false or misleading when made. Deloitte
simply raised questions, not factual conclusions, and those questions were also derivative of the
short seller attacks. Deloitte’s stated reasons for resigning were its conclusion that the Company
was “minded not to proceed in good faith on the basis of our requested course of action” – to
conduct an independent forensic investigation – and its loss of confidence in the representations
of management and the commitment of the Board and the Audit Committee “to good governance
and reliable financial reporting” Compl. ¶ 53. The Company has, in fact, proceeded with
Deloitte’s requested course of action and an independent investigation is underway.
IS THIS NEW INFORMATION?? If so that is a positive I guess.
Thanks,
Nealio
Does anyone know if there has been any institutional buying in the last few months?
Thanks and GL,
Neal
Do you think that NEP can pull back into the 5 dollar range in the next month? Or will we languish?
Has anyone bought more recently?
I think we're going to see the stock drop some more on Tues and maybe Wed due to all this lawsuit PR. I'm going to likely use that opportunity to load up on some stock in the 7's...anyone think it will go lower than low 7s?
The last couple trading days have been easy money and I bailed late Friday as it seems to be looking to go lower before recovering whenever the company drops some good PRs.
Thoughts?
GLTA.
Neal
Held tight above $1 today. Hmmm, wish the story would get out to more people.
A little disappointed that this contract (see below) to employ a public relations company has amounted to nothing as far as I can tell. There has only been the basic minimum of communication; let's hope it improves!
On April 5, 2010, China Agri-Business, Inc. (the “Company”) and Christensen International Limited (“Christensen”) executed an Investor and Media Relations Service Agreement (the “Agreement”), dated as of March 31, 2010. Pursuant to the Agreement, the Company retained Christensen to provide public relations services to the Company for a term beginning on April 1, 2010 and ending on March 31, 2011. The Agreement renews automatically for one year terms thereafter until terminated by mutual written agreement. In consideration for Christensen’s services, the Company will pay to Christensen an annual fee of $100,000, payable in equal quarterly installments. The Company will also reimburse Christensen for all reasonable expenses Christensen incurs in providing services to the Company.
This article almost answers your question:
http://www.fool.com/investing/general/2010/11/17/why-this-stock-is-a-winner.aspx
Nealio
New 52-week High of 0.98 !!
Good sign...we'll see if it can break $1 tomorrow.
This stock needs exposure! Seems like a good story is brewing and a bright future!
Interesting article on Fool:
http://www.fool.com/investing/general/2010/11/17/why-this-stock-is-a-winner.aspx
Nealio
Up 11% and making an assault on $1.
Shook off bad Mkt and now seeing a good start at some volume. If the stock gets noticed could be some real upward movement.
I'm still holding.
Glty
Neal
Someone should post the info below to the China Growth Stocks board. I think there are some followers there.
Anyone have a view on price action this week?
Best,
Nealio
CHBU: From the 10Q, Looks pretty good! Looks like the new sales network is doing very well! Could really take off in the next year.
Net Income:
For 3 months ended: Sept 09 Sept 10
$251,568 $899,734
For 9 months ended: Sept 09 Sept 10
$612,185 $1,992,263
Sales for the three months ended September 30, 2010 totaled $3,530,563, an increase of $2,913,106, or 471%, as compared to sales of $617,457 for the three months ended September 30, 2009. Sales of our internally made products increased $1,183,386 to $1,800,843 for the three months ended September 30, 2010 from $617,457 for the comparable period in 2009. Retail sales of fertilizer products in our direct sale stores was $2,272,144 for the three months ended September 30, 2010, compared to $0 in the comparable period of 2009.
We believe that the increase in sales was primarily attributable to our “New Agriculture-Generator” campaign, which was designed to expand our distribution network and to establish a closer relationship with farmers through agricultural cooperatives in the rural areas of China. Sales from our direct sales stores amounted to $2,272,144, approximately 64% of total sales in the three months ended September 30, 2010. Sales from our super chain branded stores amounted to $272,963, approximately 8% of total sales in the three months ended September 30, 2010, an increase of $95,643, or 54%, as compared to $177,320 in the same period of 2009. Sales from our traditional sales network amounted to $985,456, an increase of $545,319, or 123%, as compared to $440,137 in the three months ended September 30, 2009. As of September 30, 2010, the Company has 400 direct sales stores which are controlled and managed directly by the Company, and approximately 100 super chain branded stores. The majority of these direct sales stores and branded stores were located in the Shannxi Province (local province) and some of these stores were located in the Hunan and Sichuan Provinces.
http://ih.advfn.com/p.php?pid=nmona&article=45248763
Up to .86
Looking good...last year the earnings were on the 15th. Most CHBU earnings in the last couple years were on the 15, 16, 17, 18th of the month. Looks like definitely early next week.
A couple more days of run-up.
GL
Handbell,
I think you should drop a note to the China Growth board about CHBU.
Volume is looking to beat yesterday and price is upward again. Just need to spread the wealth.
GLTY
I guess well see, the volume will def tell the tale. The new spotlight on China stocks could certainly send it in the right direction. Let's hope they put out a PR about the earnings date, they supposedly hired a PR firm a few months back but it has not showed.
Moving up now +7% !
This is the pre-earnings run that has occurred the last 2 earnings reports. Many new stores have come online and it could have a big impact in revenues.
Glta
Nealio
Earnings within 10 days...the chart shows a historic rise into earnings and it should be more profitable than ever given the positive new revenue source growth.
I think the volume will come next week.
GLTA
CHBU- getting pre-earnings volume and rising. Could be a run. I'm in from about a month ago.
Let's hope volume returns tomorrow.
YONG - anyone know what the big volume is about? Been strong all week long. Looks like a good move.
Wow, I'm pretty sure Gary is wondering why he made you an assistant. There has got to be someone else...
Looking for some gains tomorrow...hope to ride it up with the JADA masters. Let's hope for a market rebound so we can actually make some real cash.
GL.
Nealio
Good day for CHBU. I'm just talking to myself, but it is good to see them put out a PR for the earnings too, and it was pretty well written, accentuating the right things in my opinion. This bodes well for the future as I think they just hired a new PR firm; I think this will result in some well done PRs in the future. Not much volume behind this up move today, but it was on a very BAD and DOWN day for most of the China Small cap sector.
Best of luck to all!
Nealio
The 10-Q was posted today. Any thoughts anyone? Burp?
http://biz.yahoo.com/e/100517/chbu.ob10-q.html
Looks like a positive to me based on the new direct-sales stores network. And there was positive earnings for the last 9-months vs prior year 9-months.
Anyone?
Best of luck,
Nealio
Anyone have any idea when this new PR company will put something out? Any events on the horizon?? Other thoughts?
Thanks, Nealio