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so what's the right price?
It was truly an exercise in self-discipline to take some off the table now as I do think we are going much higher. Trying not to be too greedy these days!
Sold 40% of my JADA position. Pretty much riding free shares now. If it pulls back due to earnings (which I doubt) or 10-K extension (possible), will look to buy back. If not, will enjoy the ride with my remaing 60%. Good luck to all!
Strong volume in the first hour. Appears to be strong accumulation - very controlled buying
burp -
you still in JADA? curious what your TA is telling you based on the past week's action. earnings hopefully out this week.
http://seekingalpha.com/article/195915-top-50-companies-of-2010-part-1?source=yahoo
Top 50 Companies of 2010 (Part 1)
by: Zack Buckley March 28, 2010 | about: BSPM.OB / CHBT / CHGY.OB / CSGH.OB / DJSP / EAR / JADA.OB / LPIH.OB / SKBI Zack Buckley 1
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Share0 After researching over 5000 companies, I have come up with 50 stocks that I believe to be the most undervalued companies in the world. While I do not know where they will be going in the next year, as I cannot predict the market in the next six months, I believe in the next 5 years investors will be very rewarded by purchasing these companies.
The purpose of this series is not to go into great depth in the greatest opportunities in the world, but to cover enough to prove that listening to me in the future is worth your time. I will guarantee we’ve done much more research than my cursory summaries show. I am so emphatic about the prospects for these companies that I am going to China this summer for 3 months to visit these companies. I have created a tier system for the companies. While I think they are all great buys, the articles are tiered beginning with my favorite companies in the first article and progressively less attractive but still very undervalued companies in later articles.
My first company is HearUSA (EAR), a potential buyout candidate. It is only an 80 million dollar company, yet Siemens (SI) has 600 million euros to purchase a company and cannot purchase any company that competes with EAR. You do the math. EAR is also expanding their business across the US.
Another US company is DJSP Enterprises (DJSP), my last US company for the top 50. They service foreclosures in Florida and are expanding their business across the US. As we all know, foreclosures are sky high in Florida and high across the US. The P/E is 5 and they are expanding rapidly.
China Sun Group High Tech Company (CSGH.OB) is a battery manufacturer in China with three main products: cobalt carbonate, cobaltosic oxide and lithium cobalt oxide, used in the production of lithium-ion batteries with a P/E of 8.33. For FY2008, CSGH saw revenue growth of 46% and net income growth of 27%.
Biopharm Asia is trading at a P/E of 4 and expanding quickly, with 22% revenue growth in 2008. BFAR has its own line of Chinese traditional medicines, and is also a distributor of pharmaceuticals. BFAR should now only be purchased by investors who understand the implications of the CFO resigning and that this is either a great opportunity or a great problem, and that I know that I do not know.
Skystar Biopharmaceuticals (SKBI) is a fantastic company due to a strong sustainable competitive advantage they have due to being the only veterinary medicine company in China that is not a stated owned enterprise. With a p/e of 6, over 30% annualized growth, and return on equity currently over 50%, this is a no-brainer.
Biostar Pharmaceuticals (BSPM.OB) is another great pharmaceutical company with a sustainable competitive advantage; BSPM has the only government approved OTC treatment for hepatitis b in China. This may affect up to 130 million people. BSPM is expanding their sales outlets from 3,500 to 10,000 just this year. With a p/e of 8, this company is incredibly cheap both on a current and forward looking basis.
China Energy Corp (CHGY.OB) is a 100 million dollar company divided into two business segments, their coal group and heat power segment. Their coal production in 2010 is estimated to be larger than 2008 and 2009 combined due to a change in their mining methods which changes the recovery rate from 35% to 80%.
China Biotics (CHBT) plans to quadruple revenues. While it may currently look expensive with a p/e of 23, at full capacity this company could be as low as 5.75, not to mention they expect to continue growing rapidly in subsequent years, with a potential 1000%+ revenue growth in the next 5-10 years.
Longwei Petroleum (LPIH.OB) is a $2.20 company with $.65 EPS based on 2011 guidance due to capacity expansion. Rumors are that things are going as planned and they should be able to continue growing.
I will leave you with a somewhat speculative but extremely rewarding company. This is a 48 million dollar company with a current p/e of 4.2. Jade Art Group’s (JADA.OB) mine can produce up to 40,000 tons of jade per year. That makes 128 million in revenue at full capacity. With profit margins hovering around 60%, I conservatively estimate net income of 60 million, which would put the company at a p/e of less than 1. Jada is a growing company; just for it to return to a reasonable p/e of 10 would make the stock a 20 bagger.
I advise that you look through the disclosure statement to figure out which stocks I feel are the most undervalued. You can tell this by what I own.
Disclosure: Author holds long positions in LPIH.OB, CSGH.OB, EAR, DJSP, BFAR, SKBI, CHGY.OB, CHBT, JADA.OB, BSPM.OB
About the author: Zack Buckley Zack Buckley is CEO of UncoveringAlpha.com. He developed his investing methodology by synthesizing the ideas from the best investors of all time, based on their track record. This led him to closely follow Warren Buffett, Peter Lynch, George Soros, Seth Klarman and Benjamin Graham. Using a value... More
http://seekingalpha.com/article/195915-top-50-companies-of-2010-part-1?source=yahoo
Top 50 Companies of 2010 (Part 1)
by: Zack Buckley March 28, 2010 | about: BSPM.OB / CHBT / CHGY.OB / CSGH.OB / DJSP / EAR / JADA.OB / LPIH.OB / SKBI Zack Buckley 1
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an article to Customize Font Size: PrintEmail Recommend 0 Share this page
Share0 After researching over 5000 companies, I have come up with 50 stocks that I believe to be the most undervalued companies in the world. While I do not know where they will be going in the next year, as I cannot predict the market in the next six months, I believe in the next 5 years investors will be very rewarded by purchasing these companies.
The purpose of this series is not to go into great depth in the greatest opportunities in the world, but to cover enough to prove that listening to me in the future is worth your time. I will guarantee we’ve done much more research than my cursory summaries show. I am so emphatic about the prospects for these companies that I am going to China this summer for 3 months to visit these companies. I have created a tier system for the companies. While I think they are all great buys, the articles are tiered beginning with my favorite companies in the first article and progressively less attractive but still very undervalued companies in later articles.
My first company is HearUSA (EAR), a potential buyout candidate. It is only an 80 million dollar company, yet Siemens (SI) has 600 million euros to purchase a company and cannot purchase any company that competes with EAR. You do the math. EAR is also expanding their business across the US.
Another US company is DJSP Enterprises (DJSP), my last US company for the top 50. They service foreclosures in Florida and are expanding their business across the US. As we all know, foreclosures are sky high in Florida and high across the US. The P/E is 5 and they are expanding rapidly.
China Sun Group High Tech Company (CSGH.OB) is a battery manufacturer in China with three main products: cobalt carbonate, cobaltosic oxide and lithium cobalt oxide, used in the production of lithium-ion batteries with a P/E of 8.33. For FY2008, CSGH saw revenue growth of 46% and net income growth of 27%.
Biopharm Asia is trading at a P/E of 4 and expanding quickly, with 22% revenue growth in 2008. BFAR has its own line of Chinese traditional medicines, and is also a distributor of pharmaceuticals. BFAR should now only be purchased by investors who understand the implications of the CFO resigning and that this is either a great opportunity or a great problem, and that I know that I do not know.
Skystar Biopharmaceuticals (SKBI) is a fantastic company due to a strong sustainable competitive advantage they have due to being the only veterinary medicine company in China that is not a stated owned enterprise. With a p/e of 6, over 30% annualized growth, and return on equity currently over 50%, this is a no-brainer.
Biostar Pharmaceuticals (BSPM.OB) is another great pharmaceutical company with a sustainable competitive advantage; BSPM has the only government approved OTC treatment for hepatitis b in China. This may affect up to 130 million people. BSPM is expanding their sales outlets from 3,500 to 10,000 just this year. With a p/e of 8, this company is incredibly cheap both on a current and forward looking basis.
China Energy Corp (CHGY.OB) is a 100 million dollar company divided into two business segments, their coal group and heat power segment. Their coal production in 2010 is estimated to be larger than 2008 and 2009 combined due to a change in their mining methods which changes the recovery rate from 35% to 80%.
China Biotics (CHBT) plans to quadruple revenues. While it may currently look expensive with a p/e of 23, at full capacity this company could be as low as 5.75, not to mention they expect to continue growing rapidly in subsequent years, with a potential 1000%+ revenue growth in the next 5-10 years.
Longwei Petroleum (LPIH.OB) is a $2.20 company with $.65 EPS based on 2011 guidance due to capacity expansion. Rumors are that things are going as planned and they should be able to continue growing.
I will leave you with a somewhat speculative but extremely rewarding company. This is a 48 million dollar company with a current p/e of 4.2. Jade Art Group’s (JADA.OB) mine can produce up to 40,000 tons of jade per year. That makes 128 million in revenue at full capacity. With profit margins hovering around 60%, I conservatively estimate net income of 60 million, which would put the company at a p/e of less than 1. Jada is a growing company; just for it to return to a reasonable p/e of 10 would make the stock a 20 bagger.
I advise that you look through the disclosure statement to figure out which stocks I feel are the most undervalued. You can tell this by what I own.
Disclosure: Author holds long positions in LPIH.OB, CSGH.OB, EAR, DJSP, BFAR, SKBI, CHGY.OB, CHBT, JADA.OB, BSPM.OB
About the author: Zack Buckley Zack Buckley is CEO of UncoveringAlpha.com. He developed his investing methodology by synthesizing the ideas from the best investors of all time, based on their track record. This led him to closely follow Warren Buffett, Peter Lynch, George Soros, Seth Klarman and Benjamin Graham. Using a value... More
adama4 - is it your belief that if Repsol is still in, that they would have to pay a whole lot more to close the deal than was originally laid out in the LOI given that the 3/11 deadline has passed?
adama4 - do you still think Repsol is in the picture or not?
if not Repsol, then they better move fast because we have a hole to drill before the end of 2011! no doubt Ray will get it done!
sahd3g - any idea why they halted trading for this? big news yes, but kind of surprised trading halted for it.
Great news! Looks like we have to surrender a little more acreage, but no worries there as we have plenty to keep us busy. Let's see what happens with Repsol now or whoever else may be in play for their share! Great job Mr. Leonard!
Announces 2010 Guidance
Based on the current customer base, geographic coverage, network of express buses and existing revenue streams, CME’s management projects that its 2010 net income (non-GAAP which is before share based compensation or fair value adjustments for the Company’s financial instruments), will be in the range of $71 million to $75 million. These projections exclude the impact of any possible acquisitions, additional of new buses and new investments in other media projects in 2010.”
I think we'll see something today. Just my uninformed guess though.
Any word from your colleague re JADA? Have you considered contacting the company to discuss your new IR firm? Thanks.
Are we to assume that Repsol was given a 5 day extension on finalizing their deal with HDY until the MOU is approved by Guinea? I thought yesterday was the deadline for them to close.
CSP,
Has your business partner been able to learn anymore about JADA during his China visit? Thanks.
Good to know. As long as the insiders aren't selling, I'm not too concerned with all the selling going on - just wish they'd hurry up and finish.
Any idea what the reporting requirements are for insider selling on OTC stocks? There would obviously be concerns if insiders were selling right now...
http://www.vanguardngr.com/2010/03/03/erhc-to-expand-operation-in-nigerias-onshore/
ERHC to expand operation in Nigeria’s onshore
Business Mar 3, 2010 By Yemie Adeoye
RHC is a sub-Saharan,
energy investment company with a strong Nigerian background.The American oil company with a single largest Nigerian interest of 43 per cent has also decided to expand its shareholding with its recent move to get listed on the London Stock Exchange and subsequently on the Johannesburg stock Exchange. This is aimed at giving more people around the world the opportunity of having a stake in the fast expanding oil investment company.
Petroluem Minister
The company was represented at the just concluded Nigerian Oil and Gas (NOG) 2010 conference in Abuja.
The company’s Vice President Corporate Development Mr David Bowell, Chief Operating Officer Peter Ntephe and Financial Controller Sylvan Odobolu all spoke with energy correspondents on immediate plans of the company in its effort to expand operations and create more presence in Nigeria.
Excerpts
ERHC’s planned investment in Nigeria
We will be looking at the oil services; anything that can enhance the delivery of our products is an investment that could make sense to us. And we are looking at a number of such opportunities in Nigeria. From oil service companies, to refineries, we’ll probably leave that to the experts because it is a technical business that is highly capital intensive and the returns on investments while not steady are not as spectacular as they are. So we see ourselves as primarily an upstream company with some presence in oil services.
Our strategy is to get into production and again that’s where the battle is very interesting, you can’t buy into some of these projects that are very close to production. If we can get into any of those, it will make a lot of sense to us because we make a lot of revenue from extra productions and recycled into our business to try to expand it. We rely solely on share capital, held by our share holders.
Securing credit lines to finance operations
What we are looking at is listing on the London Stock Exchange. The idea is that we will do that to generate funding to be able to expand our business in Nigeria and the advise we’ve taken is that we will raise share capital available to companies through the capital market just as Oando is raising money in London, Afren has raised over hundred million dollars over the last year in London, and we believe we’ve got an attractive set of assets and an attractive set of strategy, so we should also follow suit.
This means of financing is available to companies such as ours and we will end up raising money through the London Exchange. Afren has raised over hundred million dollars in the last year in the London Exhange and we believe that we have got an attractive strategy that we should use as well and that is what we shall do.
Interests despite uncertainties in the Nigerian oil and gas industry
We believe that this is a crucial time and we also believe that if you go to sleep, you will miss the boat and coming at this time when the risks are perceived to be higher than other time is actually a good time to get a good deal.
If you wait for the smaller players to come in, you’re going to miss some of the better deals and also you end up paying more, and we believe we understand the market perspectives than most of the international companies. As far as the PIB is concerned, the Nigerian government is not going to be part in destroying the goose that lays the golden eggs because every body we’ve spoken to tells me that the Niger Delta needs investment, and they can’t make it unattractive for companies like ERHC to come in or we take our money and go somewhere else. So I don’t think that’s going to happen.
Strategy of operations in the Niger Delta
Our strategy is to partner with Local players. We are actually by ownership structure an indigenous company and we believe that to succeed in Nigeria we needed an indigenous company as a partner. So it boils down to choosing your indigenous partner very carefully in participating in a joint venture where our strength is needed with those of the joint venture.
It is coming in a very well sought out manner in working with the right people, if you work with the wrong people its not going to work.
The Sao-Tomeans have announced that their licensing round is going to commence in March this year, and they are going to start a six month licensing rounds for nineteen blocks in what they call the Sao-Tomean (Exclusive Economic Zone) EEZ. But because of what we’ve done in the area in the past, ERHC have the right to choose two blocks of the hundred per cent of ownership each and also has a right to choose 215 per cent interest in two other blocks.
We have to pay a signature bonus on that. We have recently negotiated with the Sao-Tomeans, chosen two blocks, blocks 4 and 11, and we will choose two in the 15 per cent interest in due course which is being negotiated with the Sao-Tomeans.
The EEZ is deep water and it is difficult to get into these fields until we’ve negotiated and the Sao-Tomeans can tell us what the developments would be, but we would know that in the next six to nine months.The currently owned blocks of the JDZ
We are a large working interest holders in the JDZ and the thing to understand about our holdings in the JDZ is that we have what’s called the carried interest, in other words, the operators of the blocks have to pay our development costs, and they can recover that money out of all that was taken out of that block in due course so we don’t have any monetary obligations in the JDZ.
The operators who got interested in blocks 2, 3 and 4. Sinopec is the operator in block 2 and Addax in blocks 3 and 4. Phase one of exploration drilling in that area has happened and is completed, we’re waiting for the results which would be announced within the next month or in six weeks and then we move on to phase 2. We have been following negotiations with the Joint development Authority (JDA)
Ownership structure of ERHC
The company has about two and half million (2,500,000) shareholders, and from a number point of view the vast majority of them are Americans, but from a per centage point of view the company is about 51/52 per cent owned by Nigerian interest, and our biggest single shareholder holding about 43 per cent is the Chrome group, and the remaining 8 to 9 per cent is held by a number of individuals and companies.
Outcome of a recent investigation
The thing to understand is that it was an investigation. They came in and did their investigation, the investigation then went quiet, and in January of this year the authorities returned all the paper works they had taken from us as part of their investigation, and the investigation, if it had proceeded would have led them charging us in the US courts for some criminal misdemeanor and they have not done that, and the fact that they returned all of our documents simply indicates that they are not going to do that. The investigation started in 2005 and it is now 2010 and the expectation is that if they had found anything wrong they would have charged us. As far as we are concerned we’ve got a clean record.
Local content
If we operate in Nigeria we have to be subject to the country’s laws and rules so we would create a reporting structure and a monitoring structure to ensure that we comply with local content requirement and I do not think there is any long term benefit in trying to find a way around these policies as it is more benefitial to play by the rules and that is what we would do.
Scope of operation
We see ourselves strictly as energy investors, we do intend to reinvent the wheel, we speak to people who are good at actually operating them and we would want to tune up with those people, indigenous and non indigenous depending on circumstances of a particular investment opportunity.
Attraction to Nigeria
We have always been attracted to the Nigerian environment, the issue has always been that of corporate development where all of our assets are in the JDZ and the phase one development process that was completed requires that we focus our attention and resources on that, now if that is completed we can start moving forward and looking at other opportunities, also we started off in the JDZ and from the operations point of view our mnagement5 was focused on the JDZ our resources so that we could focus on other areas and as i said earlier we are looking to expand from sub-Sahara down to Capetown, and you don’t just decide to do that on one day and start on day two, it takes time to develop the expertise, the networks, and so on. So that is principally we’re we come from and why we are where we are today.
Wish them luck contacting someone at JADA for an update. Their US contacts per their website are out of date numbers. Any idea if they currently have a IR firm at all? For a company that has such a large insider ownership, you'd think they'd be a little more interested in promoting their company.
i've followed this stock for quite a while. just recently made my first purchase. did not invest based on message board postings, but was just asking a question. i tend to be a little skeptical of someone who has so much unavailable information and so many contacts.
new to ERHE.
question for board regulars. is markgovols the only source of all the rumors out there and is he considered pretty respectable here?
thanks.
As many shares as have traded the past few weeks, I would have thought CHFI would be close to done. Guess we'll have to wait for them to finish up before we make any big moves here.
Important part of PR:
Mr. Hongjun Wang, President of China North East Petroleum, commented, "We are working diligently with our financial and accounting teams to fully evaluate the cumulative impact of these non-cash charges to our 2008 and 2009 financial statements. We want to clarify to our shareholders that this restatement is not related to our Company's business operations, and this disclosure will have no impact on our previously reported revenues, cash balances or EBITDA. This disclosure is solely to adjust for non-cash accounting items. We look forward to updating our shareholders on any developments related to this subject in the future."
Not currently in NEP, but if this drops enough should provide a very nice reentry point for those who took profits after the runoff end of last year.
NEWS
http://finance.yahoo.com/news/China-North-East-Petroleum-prnews-1800935786.html?x=0&.v=77
China North East Petroleum Announces Revisions to Previously Issued Financial Statements for 2008 and 2009 Due to Non-Cash Accounting Adjustments
-- Revisions Will Have No Impact on Revenue Recognition, Cash Balances, Liquidity and Capital Resources Reporting Nor Will they Impact the Company's Operations --
Companies:China North East Petroleum Holdings Limited
Press Release Source: China North East Petroleum Holdings Ltd. On Tuesday February 23, 2010, 4:01 pm
HARBIN, China and NEW YORK, Feb. 23 /PRNewswire-Asia-FirstCall/ -- China North East Petroleum Holdings Ltd. (the "Company" or "NEP") (NYSE Amex: NEP), a leading independent oil producing and oilfield services company in Northern China, today announced that as a result of the preparation of responses to comments the Company received from the Securities and Exchange Commission (the "SEC") in connection with the SEC's review of the Company's Form 10-K for the year ended December 31, 2008, the Board of Directors of the Company determined that the Company's financial statements for the year ended December 31, 2008, and each interim quarter within that year, and for the quarters ended March 31, 2009, June 30, 2009 and September 30, 2009 should no longer be relied upon as a result of certain non-cash errors contained therein regarding the accounting for: (i) warrants issued in conjunction with certain financings in 2008 and 2009, which warrants should have been classified according to EITF-0019 as liability instruments rather than equity instruments; (ii) interest expense calculated using the effective interest method that should have been recorded in each of the reporting periods in question, arising from those certain financings in 2008 and 2009; (iii) changes in the fair value of the reclassified warrants; (iv) ceiling test impairment calculations prepared by the Company for the reporting periods ended December 31, 2008 and March 31, 2009; (v) depreciation, depletion and amortization expenses related to the company's oil and gas properties, net; (vi) recognition of employee stock-based compensation expense; and (vii) a modification of the February 28, 2008 secured debenture that occurred on March 5, 2009, which modification should have been treated as an extinguishment pursuant to EITF 96-19.
The Company is currently evaluating the cumulative impacts of these non-cash charges to the financial statements for the reporting periods in question, and will issue further disclosure detailing the impact and the net result of these changes to the financial statements as soon as possible. The Company is preparing amended reports for the December 31, 2008 Form 10-K and 2008 and 2009 Forms 10-Q in question, including restated financial statements, and will file those amended reports with the SEC when they are completed. As all of the errors noted herein are non-cash charges, the Company will not report any change to its previously disclosed revenues, cash balances or liquidity and capital resources disclosures.
The audit committee of the Company's board of directors has discussed the forgoing matters with the Company's Chief Financial Officer and its current and former independent registered public accounting firms.
Mr. Hongjun Wang, President of China North East Petroleum, commented, "We are working diligently with our financial and accounting teams to fully evaluate the cumulative impact of these non-cash charges to our 2008 and 2009 financial statements. We want to clarify to our shareholders that this restatement is not related to our Company's business operations, and this disclosure will have no impact on our previously reported revenues, cash balances or EBITDA. This disclosure is solely to adjust for non-cash accounting items. We look forward to updating our shareholders on any developments related to this subject in the future."
Additional information related to this subject can be found in the Company's 8-K filed today with the SEC.
ABOUT CHINA NORTH EAST PETROLEUM
China North East Petroleum Holdings Limited is an independent oil company that engages in the production of crude oil in Northern China. The Company is a pioneer in China's private oil exploration and production industry, and the first Chinese non-state-owned oil company trading on the NYSE Amex.
The Company has a guaranteed arrangement with the PetroChina to sell its produced crude oil for use in the China marketplace. The Company currently operates four oilfields in Northern China. The Company also recently added an oil service subsidiary through its acquisition of Song Yuan Tiancheng Drilling Engineering Co. Ltd. ("Tiancheng"). For more information about the Company, please visit http://www.cnepetroleum.com .
Statements in this press release, including but not limited to those relating to the Company's or management's intentions, beliefs, expectations, hopes, projections, assessment of risks, estimations, plans or predictions for the future, including the impact of the restatement, timing of filings with the SEC and other statements that are not historical facts are forward-looking statements that are based on current expectations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that these expectations will prove correct. Important factors that could cause actual results to differ materially from those in the forward-looking statements include delays and uncertainties that may be encountered in connection with the restatement, final audits and reviews by the Company and its auditors, and other risks described in the Company's annual report on Form 10-K for the year ended December 31, 2008 and its other filings with the SEC. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Investors should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement and the Company undertakes no duty to update any forward-looking statement.
For more information, please contact:
United States:
Chao Jiang
Senior Vice President, Corporate Finance
Tel: +1-212-307-3568
Email: chao.jiang@cnepetroleum.com
Bill Zima
ICR, Inc.
Tel: +1-203-682-8200
China:
Yang Dio Zhang
Chief Financial Officer
Tel: +86-451-5558-0253
Email: dio.zhang@cnepetroleum.com
sahd3g -
read this post on the JADA Yahoo board. interesting speculation regarding China Finance. knew you were in both so thought you might find it interesting. Post was posted by "theuntamedbull" today on Yahoo's JADA board:
Ill try with China Finance and Ill begin by saying what you know is obvious, this is my speculative opinion. There is A LOT more information out there then people recognize, but most people aren't willing to speculate and this is, after all, a speculators sport. I think many people that come to the Stock Market forget that.
The long and skinny, CHFI represents an account in the British Virgin Islands that owns Shenzhen Hua Yin, that is a key player in listing these companies (Reverse Mergers like JADA). When they are listed shares are issued as payment consideration that have historically been initially owned by SHY. SHY was listed by China US Bridge Capital which is a subsidiary of China US Capital Holding group along with Gfort Management and China US Venture, and they are all tied back to Brand World Group, but CHFI is the only branch to be publicly listed, which is majority owned by China US Bridge. To estimate the wealth in this chain of connections is impossible right now but it is alot more than China Finance's current market cap. CHFI doesn't seem to be concerned with their share price right now, as much as they are concerned with listing as many of these companies as possible. Check out NEWN, ONP, GFRE, UTA. CHFI didn't hold any of their "consideration" shares anywhere near the highs these stocks made. Instead they sold many of them closer to their lows and reinvested the money to list new companies...CNOA, JADA etc. Now a company smart enough to find great stocks like these cant manage to at least sell near the highs? Well I just happened to notice that some of the same guys that were issued all these shares to pay of GFRE's debt to CHFI just also happen to be some initial investors in JADA, and CHFI received shares of JADA for helping pull off the deal. This is an intricate web of connected capital accounts and right now the current focus is not necessarily on pumping CHFI's stock price, on the contrary the seem to try and keep it low by selling at the exactly WRONG time. Who would have thought?
Check this link out, it is a great place to start.
sec.gov/Archives/edgar/data/11234...
news today or delayed again???
What is up with IV this week? Looks like it is down again this morning. Was hoping to wake up to a few more SHM updates there.
I really think once the PSC is signoff on, we'll be well on our way. Read an article last night on the US's involvement in Guinea and help/encouragement regarding the transitional government. All this bodes well for things for HDY politically there. Randy mentioned yesterday that the Watts were there and very happy with things. Good to know as they control a lot of shares and will be able to start selling some this summer. Hopefully they see the need for a strong stock price for HDY's ultimate success and will do all they can to support the stock price in the future and not cause it undue harm. Lots of good things to be encouraged about here. Institutional support for the stock as well as a big financing deal could really send us north quickly as well. Exciting times!
I just want word of Guinea sign-off. Will be quite relieved once that is done. I hope someone at the meeting asked about the status of things with Guinea and if Ray is still fully confident this will happen soon. Once that hurdle is behind us, I think we should move up nicely from here.
Thanks for the update Randy! Let us know if you hear anything more. Much appreciated!
brooklyn,
didn't realize most of the warrants are held by insiders - good to know.
One more that is worth a look. It is a PK stock.
GYSN.pk
I bought in a few months ago at 14 cents - a modest purchase on my part. In the next few days, they should announce a deal with ShopNBC to sell their products (high end skin care products). Little sales up to this point, but the ShopNBC deal has great potential. The deal hasn't been officially announced yet, but the product just showed up on their website - joint PR expected soon.
http://www.shopnbc.com/SearchM/Default.aspx?page=LIST&free_text=Trilexon
I plan on getting my money out of this one after the initial run - will probably hold on to some free shares. Could be a momentum play in the next week or so leading up to the announced deal for those who want to make a quick trade. Long term, the potential is a little more uncertain - all about selling the product.
Last time I spoke to their IR person, o/s shares were in the mid 60M I think.
EquityNet Research Initiates Independent Research Coverage on Biostar Pharmaceuticals, Inc.
Press Release Source: EquityNet Research On Thursday February 18, 2010, 9:30 am
LOS ANGELES, Feb. 18, 2010 (GLOBE NEWSWIRE) -- EquityNet Research, an independent West Coast equity research firm, announced today that it has initiated coverage of Biostar Pharmaceuticals, Inc. (OTCBB:BSPM - News).
A full copy of the report and disclosure requirements are available at EquityNet Research's Web site: www.equitynet.net.
Biostar is a Xianyang-based developer, manufacturer and supplier of pharmaceutical products and medical nutrients addressing a variety of diseases and conditions, including hepatitis B, a disease afflicting an estimated 8-10% of the Chinese population.
Randy Lewis, CFA, Founder and Senior Analyst with EquityNet who is covering the Company, stated, "The Chinese pharmaceutical market is showing solid and sustainable growth and Biostar's results attest to that. We feel this is a testament to the increasing industry demand and business model that Biostar is executing, and certainly solidifies our confidence in the Company moving forward.
"We believe that the Company holds several competitive advantages, including a market leading position with the only OTC drug for hepatitis B in China and virtually complete control of its supply chain," Mr. Lewis concluded.
About EquityNet Research
EquityNet Research was formed to provide the investing public with professional, independent, objective research on under-followed public companies. It does this by preparing detailed reports that highlight the key aspects of each company and its industry. EquityNet strictly maintains independence and objectivity according to the Standards of Professional Conduct of the CFA Institute (CFAI), and though is compensated for performing due diligence and creating reports, thus keeping its research free to the public, does not have extraneous relationships with its followed-companies nor has any present or future pecuniary benefit other than that disclosed for each company on its Web site. EquityNet was compensated $7,000 by GeoInvesting for the due diligence, preparation, and any updates for one year, of the Biostar report. EquityNet is not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell any securities. Price targets should be construed as fair-market-value (FMV) as of the date of any report, using industry-standard methodologies. Many factors can cause stock prices to deviate from FMV, including supply and demand issues, and general equity market conditions.
Contact:
EquityNet Research Randy Lewis, CFA, MBA, Senior Analyst
Thanks for the invite plastipunk
JADA,MNAP,FEEC
JADA - due for a run - big seller (presumably China Finance) is out of the way. incredible value play ere
MNAP - hopefully will get an announcement today to tomorrow on closing the deal with WWI for its Albania property - big deal.
FEEC - nice PR out this morning. I suspect it will rally some today and then settle back down. this is more of a Turtle play than a Hare, but a winner nonetheless. Yes, the o/s share count is high -but take a look of their recent company presentation, they are sitting on a ton of gas and should begin commercial sales 3rd Q of this year. My guess, sitting on this one for a year should be an easy 3 or 4 bagger (buyout potential high as well).
http://finance.yahoo.com/news/Far-East-Energy-Announces-prnews-2852406699.html/print?x=0
Far East Energy Announces Progress of Winter Drilling Program; Added Emphasis on Identifying Additional Areas of High Potential; Imminent Gas Sales Agreement and Pipeline Rerouting; Project Finance Planning; and Date for Annual Meeting
Companies:Far East Energy Corp.
Press Release Source: Far East Energy Corporation On Thursday February 18, 2010, 6:30 am EST
HOUSTON, Feb. 18 /PRNewswire-FirstCall/ -- Far East Energy Corporation (OTC Bulletin Board:FEEC.ob - News) announced today it has achieved significant progress in its winter drilling program, designed to increase gas production from its Shouyang 1H Pilot Area in anticipation of gas sales in the second half of 2010. Specifically, the Company has completed five of the initially planned eight total wells to be drilled in the program. The sixth well is presently underway. Wells seven and eight, as well as three new wells, will spud in early March (after Chinese New Year) and be completed in early April, thus fully utilizing the five available rigs, and bringing to eleven the number of wells planned to be completed by April. Of these eleven wells, nine will be program wells drilled in the 1H Pilot Area intended to expand the field to the west and increase the amount of gas being produced in preparation for anticipated gas sales in the second half of 2010; while two are parameter wells drilled several kilometers to the west and southwest to obtain further information regarding the geographic extent of the high permeability/high gas content area.
The company also announced plans to rapidly begin producing these wells, including a fracture stimulation program of ten wells to be fractured in early March, and six to eight wells in late April. Most will be fractured using improved methods developed by FEEC during its 2009 Work Program, including the use of resin-coated sand to improve the stability and durability of the fracs.
Current plans call for five rigs to commence five more wells in April and early May, with the emphasis increasingly shifting to drilling parameter wells at four to six kilometer intervals to the west, south, and east with the goal of demonstrating that there is a very large area of the Shouyang block that contains high gas content as well as good-to-exceptional permeability. Of the five wells to be spudded in April and early May, four will be parameter wells seeking to ascertain how much of the northern area of the Shouyang Block shares the same rare combination of high permeability and high gas content discovered in the 1H pilot Area.
It is rare to find high permeability and high gas content together in the same coal. The San Juan Basin, is generally considered the most prolifically producing CBM basin in the world, and is an example of what can happen when high perm and high gas content are found in combination along with synergistic geologic and hydrologic controls.
"If our parameter wells continue to show good-to-excellent permeability in combination with high gas content, that will go a long way toward defining the value proposition for our company," said Garry Ward, Senior Vice President of Engineering.
To date, the 1H area pilot wells, as well as parameter wells drilled at intervals of four to six kilometers to the south and to the west of the 1H Pilot Area have revealed estimated permeability ranging from 10 millidarcies (md) to over 100md. Permeability in the 2H area, about 4 kilometers south of the 1H Pilot Area, appears to be around 60 md. In the P2 area, about 6 kilometers west of the 1H, the permeability appears to be between 20 and 40 md; while in the P3 well, about 6 kilometers southwest of the 1H area, the permeability appears to be about 10 to 20 md, This range of permeability is not unlike the San Juan Basin where permeability is generally high ranging from 20 to 40 millidarcies, but can be as much as 65 to 75 md (initial permeability before matrix shrinkage) in the "fairway". Thus, we believe that the estimated high permeability in the 1H Pilot Area and in the parameter wells, combined with high gas content throughout, preliminarily indicates an area of very promising gas productivity potential, particularly relative to typical permeability rates in China.
Far East is in discussions with three separate parties (two pipelines and one CNG company) regarding the potential off-take and sale of gas produced from the 1H Pilot Area. All gas sales will be negotiated by Far East and its partner, China United Coalbed Methane (CUCBM). The two pipeline companies are planning to lay lines of approximately 18 inches in diameter near the Shouyang 1H Pilot Area. An 18-inch line would have the capacity to transport between 30 and 50 million cubic feet of gas per day from Shouyang to the provincial capital (Taiyuan) or other destinations. These developments could enable Far East to initiate gas sales as early as the third quarter of 2010.
"In my estimation, if a pipeline is built within close proximity to us, this is the best of all possible worlds. It could accelerate the date of first gas sales and enhance our ability to sell larger volumes of gas, which means we could soon have a long-term sales contract, revenues, and be moving towards long-term project financing ," said Michael R. McElwrath, CEO of Far East.
As soon as a gas sales agreement is signed, Far East anticipates entering into early stage discussions and planning for long-term project finance.
"We have a number of milestones to reach and check off before we will qualify for long-term project finance," said McElwrath. "However, we have checked off commercial production, and could soon check a gas off-take agreement off the list. Then, hopefully, we will check off gas sales and revenues in the third quarter. We will, of course, have to reach positive cash flow status and sufficient reserves, but we can see the path clearly now, and that is gratifying."
Annual Meeting of Stockholders Announced
Far East also announced today that its 2010 Annual Meeting of Stockholders will be held on December 9, 2010, at 10:00 a.m., local time, at the Crowne Plaza North Greenspoint, 425 N. Sam Houston Parkway E., Houston, Texas. The Board of Directors has established Thursday, October 28, 2010, as the record date for determining stockholders of record entitled to notice of, and to vote at, the 2010 Annual Meeting of Stockholders.
In looking at the 9/30 10Q, there are 119M outstanding shares (300M authorized). Not included in this total though are warrants and options that could be exercised at some point. You'd have to work through the details of these items individually to determine the impact. For example, at 9/30/09, there were almost 12.5M shares under option outstanding. However, about half of these had an exercise prices close to $4 a share. The other half (~5.4M option shares issued this past year) have a exercise price of 35 cents. So of these 12.5M option shares - you'd expect about half to be exercised. It looks like as of 9/30/09, the company had ~48.4M warrants o/s to purchase one share of MNAP. The warrant situation is a little complicated. A lot in the passed have expired unexercised, but it looks like the strike price for a lot of these warrants is 59 cents. Given our current price, I'd expect the warrants that are in the money to be exercied. Positive - cash in the bank - negative is obviously a higher o/s share count.
You mean 10Q is out - not 10K.
It is great news to know both Dana and Repsol have paid their part of the seismic costs. My thought is that if they had significant concerns that the PSC modifications would not be agreed to or that the PSC was at risk in any way, then they would not be so willing to pony up these funds quite yet. Next big hurdle is getting that sign-off from Guinea! Hope Ray's confidence in the CC that this shouldn't be a problem was well founded.
Below is an interesting post from the Yahoo board (poster "Rottenbelly") on JADA. With COGS fixed for the next several years, JADA's challenge really is just moving the Jade - securing customers and maximizing their output to the allowed limit.
What to do with a mountain of Jade... 15-Feb-10 10:17 pm First...I am long on JADA and convinced it can be a huge gainer..the following is my assesment of the JADA situation and possibly why the stock price is struggling
According to the agreement with XiKai Mining, JADA has exclusive rights to distribute up to 90% of their jade production (estimated at 40,000 tons annually) for 50 years. At estimated price of $2750 per ton, that is equivalent to $100MM revenues per year. I think if they had somewhere to sell it, that is what they would happily do.
According to the last 10Q the gross margin on the sale of raw jade is about 92%. The last quarter they had about $10MM in sales (3600 tons), apparently about 40% of quarterly capacity (9000 tons). In order to sell that much they had to offer special credit terms to customers, basically resulting in an increase in accounts receivable for the quarter of over $5MM.
At that rate, 60% of the capacity is not being exploited. I think since they felt the need to offer incentives to customers to make sales, that the restriction in capacity use is not mining challenges, but sales challenges. I also fear that they were able to "over-sell" to some customers with the special terms and those customers filled their inventory and will not be placing orders until those inventories are used up. I think that is the same fear that is sending this stock price down. The problem with JADA is that it cannot seem to put together a few really good quarters....and I am afraid that the next report will flesh out my concerns.
More than anything, this company needs to sell raw jade. They need to expand the sales force dramatically. If they went from sales of 40% production to sales of 65% for a full year they will earn .50 per share and we will have a 10 bagger.
That is why they are offereng special credit terms as they need to sell as much of their quota of that mountain every year as they can. In recovery years that is probably a big challenge...maybe even negatively affecting jade prices.
(A personal note: I worked as a marble and granite buyer for construction projects in Texas in the early 80´s when oil and S & L money was building ornate office buildings everywhere. There was not enough natural stone to go around. I see that possibly happening with the China and developing market boom in the next years. That would put JADA in position to sell out capacity each year and command premium prices)