Maybe it was just like a fata-morgana
We are all craving I guess

Tiny possibility that Jiangbo hasn't updated website and forgot to PR the submittal for approval? Or is that too much of wishfull thinking on my side

I guess you are right on your statement that the number isn't the same when it comes to outstanding shares as opposed to the number of shares used in calculations of EPS etc. I didn't realise that.

Sorry, it is approx. 12M:

"Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. The total shares outstanding at February 18, 2010 was 12,031,373."

CC not untill friday, guess they want to give everybody the chance to buy some more cheapies ?!?

Cash approx. 89M, shares 12M. To my best knowledge we're not trading below cash...

The holders of the 50,000 shares short will be happy, they can cover now

@herbieholt: Pope has already sold 1 Million shares in the last few months (if I am right in my post #6616). Okay, that differs from dumping those share all in once. But I am not too afraid of that going to happen.
They will gradually be receiving shares and will continue to gradually sell them. That's my best guess. And it seems to be the best thing for both parties.

BigGreen101: have you noticed that $7,850,000 of both loans has been converted. Those shares (almost 1 Million) have been absorbed by the market pretty well I would think.
This is no absolute-guarantee that the rest will be absorbed so easily as well, I realise that.

Keep us posted on your exit-plan.

Here the filing they own 119k shares on Dec. 31st
www.sec.gov
And here is the official filing that they owned 82.5k shares on 31st Sept 2009. Satisfied now

You are right on the treshold (exact treshold is 9.99%)

I don't know what a secondary means exactly, I think you mean they sell their whole bunch of Jiangbo-shares to another investor?

I hope the CC will bring more clarity on things and they will give extensive updates on their business outlook and guidance.

@BigGreen: don't forget this is the transitional year. Growth is not their main target for 2010. There are other targets that are more urgent: uplisting, getting new drugs out, making an acquisition. I do think growth will come in 2011 and further. Maybe even the last 2 quarters of FY 2010 will show growth, who knows. As always: time will tell. Keep us updated on your exit strategy.

By the way, welcome on board Micro Druggy!

They must have sold some, they held 82.5k shares by the end of Sept 2009. They received 62.5k + 62.5k + 462.5k shares in Oct/Nov/Dec, that makes a total of 670k shares.
If I look here, I see that they owned 119k shares per 31st Dec. so that makes me hink that they have sold some shares in that quarter....don't you think so?

In Oct. and Nov. 2009 we had some high volume days (100k+ shares traded), we now know who was selling (not really a suprise I guess):

"Item 2. Unregistered Sales of Equity Securities and Use of Proceeds"

"In October 2009, the Company issued 462,500 shares of its common stock to certain holders of its 2008 Notes in connection with the conversion of $3,700,000 aggregate principal amount of such Notes pursuant to the terms thereof by such holders."

"In November 2009, the Company issued 62,500 shares of its common stock to certain holder of its 2007 Notes in connection with the conversion of $500,000 aggregate principal amount of such Notes pursuant to the terms thereof by such holders."

The biggest mistake they made in their 10Q is that they misspelled the name of the big chief of Pope: William P. Wills (the man is named Wells) Let's hope Pope will forgive them...

Well net income isn't too bad: 5.4 Million, that is about the same as the 2nd quarters in FY 2009 and FY 2008. But then revenues were higher. So they are making higher margins, that prooves their plan is working.

Good find Ericteg: to me this seems like a positive thing:
1. I would think the cash problem will be resolved by the 35th of Feb and
2. Uplisting should be done by the 15th of April

We can also see that parts of the loans have been converted.
"Note 19- Subsequent event
In January 2010, the Company issued 311,250 shares of its common stock in connection with the conversion of $2,490,000 of May 2008
Convertible Debentures"

"In September 2009, the Company issued 62,500 shares of its common stock in connection with the conversion of $500,000 of convertible debt.
In October 2009, the Company issued 462,500 shares of its common stock in connection with the conversion of $3,700,000 of convertible debt.
In November 2009, the Company issued 62,500 shares of its common stock in connection with the conversion of $500,000 of convertible debt.
In December 2009, the Company issued 62,500 shares of its common stock in connection with the conversion of $500,000 of convertible debt.
"
So in total 12+M shares are outstanding already.

I admit I am feeling dissapointed by this filing. Things should have looked better. But the coming months until April/May will be very decisive !!

I have just been reading your comments on the report. Haven't read the actual report myself yet. That will take me some time.
From your remarks I gather that Jiangbo generated cash but spent that on several things. Maybe they are investing instead of building further on their cash amount, because they think they have enough to make the acquisition they want. If that is the case it is wise to use their money instead of putting it in the piggy-bank...

If they don't get listed on Nasdaq than your $18 is a reasonable exit price...

But uplisting can be delayed but why would it be cancelled? If they recieve comments from Nasdaq they can always try to solve the issues?
BTW have you had contact recently with Crocker Coulson or Ms. Sung that makes you believe uplisting has become uncertain?

On the yahoo-board someone hints that the delay is cause by the fact that these 6-month numbers have to be audited. This audit is needed for the listing on NASDAQ. Let's hope this is the last step, than next week will pe a nice week for us.

@Bigplay777: I guess you are dissapointed in how things went sofar and that is why you have set a fairly low pricetarget? I admit that I have expected things to happen faster than they have alsot. To me that is what the company & IR-firm have made us believe / read between the lines. Uplisting 2008, new drugs in 2009. That all has been postponed.
But I think these things are going to happen eventually. Maybe all of it will happen this year or some events not untill next year. Still the fundamentals are very good. Only negative to shareprice are the debentures and warrants. But as soon as we are on the Nasdaq the institutions will come in. My guess is they will see beyond this debt and warrants, therefore I hope price will continue to rise steadily from these levels to $35-40. Without a big drop because of conversion of debt an dexcercise of warrants.

Personally I haven't made up an exit-strategy for myself. My goal always has been $40. I don't think we will get there this year, maybe after all conversion etc has been done and a big acquisition has been made and to become clear in the quarterly-numbers. This could mean I have to hold untill 2013-2014? Who knows.
On the other hand if we were to rise fast (before Nov.) to let's say $30-35 I would be very tempted to sell, because we have come so close to my goal so fast...

You shouldn't be back before May 2011 then, when the 30M debt converts !? Or do you think JGBO will convert before because they meet all the requirements (volume-weighted-average-price, volume, etc)

Damn, dind't read the filing well, I guess it is delayed 5 days (quarterly report) and would have been 15 days if it were an annual report.
Consensus on yahoo-board is that the filing will be out next Monday (22nd Feb).

Go Jiangbo !

Well I was playing the devil's advocate I guess. Your explanation may sound plausibel, I admit that. It still doesn't make it good news. But I can wait till March 3rd or so to find out.

Here it is, filing numbers on Q2 late this time:
read it yourselves

What a bullshit excuse:
"Due to the fact that the Company needs to obtain its financial information from its overseas operations, the audit of the Company’s
books and records for the six months ended December 31, 2009 is taking longer than expected. As a result of the foregoing, the Company
could not finalize its financial statements within the prescribed time period."

Only messages on yahoo-board. Haven't seen a SEC-filing by the company yet. Look here for SEC-filings for yourself

Supposedly Jiangbo will file the numbers late this time.

It is good to know then that Jiangbo has enough money to do an acquisition without having to go to the bank to get a loan. I hope this weeks finally we'll resume the uptrend. Uplisting, anyone?

All good things take time...

(I thought I'd throw in a one-liner because there really is still no news)

Short Interest for January 29, 2010

Short Interest: 50,029
Percent Change: 22.68%
Average Daily Share Volume: 23,201
Days to Cover: 2.16

Don't know what to think. Going short when uplisting news is on its way doesn't seem wise.

This week we can expect the numbers on Q2. So guaranteed there will be some action again. Good luck all.

I tried to make a sound bottom for the shareprice, but unfortunately, we have crashed through it . . .

Filled: 100 shares @ $11.15

I'll try to add 100@$11.40 (maximum bid). I am not such a big spender as the guys on the yahoo-board...

How much cheapies did you grab ?

You're welcome. Now for something else.
Check this. As of 31st Dec. Pope held 119k shares. Last time they reported that were 82k shares. But my bet is they held a lot more in the weeks that lie between these reporting dates, but they were selling some shares. So outstanding number will have increased: debt got converted or warrants excercised. My bet the outstanding number of shares rose to at least 12 Million shares, we'll see.

Bring us the Nasdaq listing and then the numbers on Q2-2010!

Better use this one , it makes clear that the numbers are always at least two weeeks old!

Don't have it yet, I always look it up at this website. Then click the tab "Short Interest"
There is a delay of approx. 2 weeks before the numbers can be found on the web.

Green is good.

I don't think so, but as always: only time will tell

I feel the same way about trading as you do...
I hope we won't regret that.
To me $40 is a real possibility too, within 1-2-3 years. But absolutely not if we don't make it to Nasdaq.

Does this help explain the pps of past few weeks?
I don't get it...

Date     Short interest  
 Jan 15, 2010   40,780  
 Dec 31, 2009   37,052  
 Dec 15, 2009   39,187  
 Nov 30, 2009    8,287 

This company is valued lower that it has net cash ?