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In regards to today's CCME PR - the upfront fee is signficant, but you are gaining access to a very select group of people. Targeted advertising for the "flying class" (i.e. those with expendable income) in China. I would suspect ad rates for these airport buses would far exceed typically bus ad rates throughout the country.
IF CHFI is selling and has more to sell, the best thing JADA can do is wait until CHFI's shares are depleted before they start releasing PRs (assuming there is good news to release- i.e. contracts, etc). With CHFI's selling out of the way, there will be little shares available when the positive news comes sending this up very fast. Again, look what happened last spring/summer with GFRE. Fun to think about the possibilities here assuming the company continues to execute.
Thanks.
This filing was as of March 31, 2009. Wonder how many of those 4.3M shares they've already sold. Hopefully most of them.
CSP,
Do you have any idea how many shares of JADA China Finance owns? If they are liquidating their position, things could really get interesting once they are done - combine that with a modest recovery in china small caps along with impressive earnings next month and this could be trading well over a dollar.
CHFI had a position in GFRE last year that they liquidated - the stock was selling well below any reasonable value - GFRE took off once they were done and continued to explode heading into the uplisting.
Made my first JADA buy today.
I agree msgbrdinfo - i would not have bought shares today to "play" the CC, but i also would not have gone into Monday with shares short. Short covering makes more much sense to me for this afternoon's volume and price rise.
Sino Agro Food, Inc. Provides Corporate Update
Companies:Sino Agro Food Inc
Press Release Source: Sino Agro Food, Inc. On Friday January 29, 2010, 9:15 am
GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (Pink Sheet:SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, is pleased to provide shareholders and prospective investors with a Corporate Update.
Heng Sing Tai Agriculture Development Co. Ltd has received a RMB 900,000 Government grant to improve infrastructure. Current projects being funded by the grant are improvements to plantation service roads and irrigation systems at several site locations. The Company has also begun construction on a more efficient processing and packaging facility. Dryer unit construction continues to move forward and is currently ahead of schedule which should allow greater capacity earlier than expected.
Company efforts to become fully reporting and quoted on the OTCBB continue to move forward on schedule. Financial reports for 2008-2009 are currently under review with audits expected to be started in late February.
Company efforts to provide adequate and current information by meeting Pinksheets Alternative Reporting Standards is currently under review by Pinksheets issuer services. The Company has been provided a list of comments and is currently working with its securities attorney to respond. The Company recently filed an Issuer Information and Disclosure Statement pursuant to Rule 15c2-11 with Pinksheets in order to seek the “PS” market tier rating.
Mr. Lee Solomon, Sino Agro Food, Inc. CEO, stated, “We are thankful for the continued support of local governments in our operations. There have been many worries by investors over the tightening of monetary policy in China. This really has no impact on us as Agriculture is exempt in the recent changes to monetary policy in China. Government grants and farmer subsidies are allowing us to operate with positive retained earnings that are fueling growth internally.”
The Company recently conducted a shareholder conference call providing updates on operations and guidance for 2010. To download the complete 15.28 MB version in MP3 format please use the following link.
http://www.mediafire.com/?1fmqnuymmqn
To down load the Company’s January 2010 Investor Presentation please use the following link:
http://www.siafchina.com/download/20091224.pdf
ABOUT SINO AGRO FOOD, INC.
Sino Agro Food, Inc. (“SIAF”) (http://www.siafchina.com) is an integrated, diversified agricultural technology and organic food company focused on developing, producing and distributing agricultural products in the Peoples Republic of China. The Company intends to focus on meeting the increasing demand of China’s rising middle class for gourmet and high-quality food items. Current lines of business include the manufacture and distribution of Bio-Organic Fertilizer and Stock-Feed, as well as, fisheries, dairies, and Hylocereus Undatus plantations. SIAF’s products are produced to meet the high organic quality standards of the United Kingdom. SIAF is owner of a patented process; the conversion of corn stalk into high quality feed for livestock and is the “Master Licensee” for China with exclusive right to a patented Bacterial used in converting food based agriculture produce wastes into nutritional feed products that are also applicable in the manufacturing of Bio-Organic fertilizer. The Company also holds the “Master License” for China on a modern re-circulating Aquaculture Technology “A Power RAS Technology” that has the capacity to commercially grow quality table fish and seafood free from chemical and pollution in enclosed modules on land in a system designed to promote economic sustainability and viability. Currently the Company has total employment of 520 persons of which 60 are skilled and experienced management staff.
FORWARD LOOKING STATEMENTS
This release contains certain “forward-looking statements” relating to the business of SIAF and its subsidiary companies, which can be 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 that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on SIAF’s current expectations and beliefs concerning future developments and their potential effects on SIAF. There can be no assurance that future developments affecting SIAF will be those anticipated by SIAF. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. SIAF undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Contact:
Sino Agro Food, Inc.CEO Mr. Solomon Lee, 86-20-22057860info@siafchina.comorMr. Chad Sykes, 281-210-4204Investor Relations (US)
I will be quite disappointed if HDY has to go the fund raising route again. I appreciate all Ray has done, but he should have had the foresight to raise all the cash needed the last go around to get us thru this time until JVs are signed - envisioning that delays were a potential possibility. No doubt, if that is what we hear about on Monday, the stock will drop - shareholders will be frustrated --- it may very well be our only option right now if JVs are not ready to sign on and if cash has not been appropriately managed. Hoping for the best, but would not at all be surprised with more delays and more dilution.
Thanks for posting that. Very helpful. Given when the deal closed, it probably takes at least a month or so to do all the interviews necessary then additional time to get board approval for the change.
I've sent multiple emails but haven't heard anything back yet. Will post if I do.
Wasn't aware that a change in auditors was a part of the deal. Understandable if it was - makes since to want a larger firm involved. My only question is the timing.
Whoever is doing the audit for the year end 12/31/09 will be responsible for signing off on the numbers before the company issues the 10-K --- no doubt that is the new accounting firm. I have no problem with the change, it just seems it would have been wiser to have made the change last fall to give the new firm plenty of time to get in and do all the preliminary work necessary with a new client.
Biostar Pharmaceuticals, Inc. Announces Change of Auditor
http://finance.yahoo.com/news/Biostar-Pharmaceuticals-Inc-prnews-871007582.html?x=0&.v=83
This is a little concerning to me. Not as concerning if the former auditors had resigned, but still concerning given the timing. Much audit work/prep is done well before fiscal year end. In addition, most of the year end work for companies with 12/31 year end would have been done or at least in mid-process by now. It just seems an odd time to bring on a new crew. I used to work for an int'l CPA firm. If we brought on a new client in late January with a 12/31 fiscal year end that was a public company - well we'd be scambling. I've emailed the company to gather a little more info. If anyone is able to gather anymore info regarding the timing of this change, please do share.
i considered buying some xodg a while back, but was concerned when i saw the independent auditor resigned last august.
http://biz.yahoo.com/e/090831/xodg.ob8-k.html
a change in auditors happens on occassion as companies often go out for bid to help lower their fees. however, auditors resigning happens much less frequently. could never get comfortable enough to pull the trigger on a buy here. with the cfo leaving and the late filing, another red flag in my book. the LED market is hot right now - look at CREE's recent earnings. still, i wouldn't touch this one until the integrity of the books/management was a little more clear. not making accusations here as all may be well, i would just be cautious here until some of these red flags are cleared up.
A lot of companies make the move from AMEX to Nasdaq - the downside is cost. Obviously, it would be preferable and cost efficient to just go straight to the Nasdaq. I do think the Nasdaq listing requirement is 30 or 60 days of trading over $4. A reverse split prior to uplisting would take care of the pps issue though as they would look at the post RS split price and apply that backwards to meet the requirement (this happened with GFRE last fall). Obviously a RS would require board approval though. Here's a link that provided some helpful info on the Nasdaq uplisting requirements.
http://www.nasdaq.com/about/NGSRequirements.pdf
CCME down but on such low volume. As soon as the buyers step back in here, this thing should move up nicely. Hopefully acquisition news is not too far off. Warrant overhang gone after Friday.
Per the 11/3/09 8-K regarding uplisting and penalty for missing deadline for uplisting to major exchange:
The Company has agreed that if its common stock is not listed on a national securities exchange within one hundred and forty-five (145) days of the Closing Date, the Company shall pay the Investors as liquidated damages and not as a penalty, an amount equal to twelve percent (12%) per annum, based on the lesser of (i) the Purchase Price or (ii) that percentage of the Purchase Price which the shares of common stock issuable upon conversion of the Series B Preferred Stock and issuable upon exercise of the Warrants (the "Underlying Shares") bears to the number of shares of common stock initially issuable upon conversion of the Series B Preferred Stock, provided, however, such payment of liquidated damages shall not accrue until the Company fulfills all of its requirements for listing on a national securities exchange.
Any thoughts as to what the recent price action does for the uplisting? Does this mean a move to the AMEX as opposed to the Nasdaq is more probable or are we looking at some type of reverse split - like a 2 for 3 - to get us over the $4 threshold? Personally, I'd prefer a modest RS and a listing on the Nasdaq.
Bought more today. Should the warrant overhang be completely gone in the next week or so?
CSP - you mind sharing your thougths as to the potential of a market meltdown here. Evaluating a value play like BSPM is pretty easy, but it is difficult to get a feel for where the world economies and market are headed as a whole --- never liked macro economics in college - sure wish i'd paid better attention!
Can't figure out why BPSM can't get any traction. With uplisting announcement expected any time now and the low valuation, surprised it continues to be sold off at the first signs of strength. Looks like solid support in the low 4s though.
just bought into ccme on wednesday. with the warrant overhang almost behind us, what are the short-term pps expectations here. with a modest PE of 10, this thing could shoot up to 20 in no time based on current year earnings forecast of over $2/share
Randy,
I think Atco meant CCME, not CCEM
The ECSC board is the best investing board I've ever come across. Very well run. I only wish I had more free cash to own more of the stocks recommeded there. Led to several winners there - NEP and BSPM - just recently bought positions in CCME and SIAF as well.
Hi atco,
I did see your post and did notice a pick up in volume after the post. Coincidence or not, who knows. The ECSC board is a great board for sure. Can't post there anymore because I'm too cheap to buy a membership, but read it daily.
Take care and keep reminding everyone on the ECSC's board about FEEC every once in a while.
Just started looking at CCME. Could someone who's been here a while confirm the following:
With today's news, fully diluted shares (including all the new warrants) is just under 40M shares. 2010 estimated net income is $83.5M (almost doubling expected 2009 net income of $42M). This looks like a steal at the current price and growth rates. Am I missing something here???
Any idea if we are bound to Dana/Respol? If a better offer came along, would HDY be prohibited from pursuing?
Before I start delving thru all the releases again, is anyone aware offhand of a timeline for uplisting? News of uplisting or revised upward earnings guidance should send this stock much higher.
I suspect a new oil production lease (or an acquisition increasing reserves) is a top priority for NEP this year. Lets hope the relationship with PTR pays off in a big way. The right lease deal could send this stock up thru the teens into the twenties pretty fast.
NEP appears to be less a valuation play (athough still a little ways to go there) and more of a pure oil play. When NEP was trading at $5, this stock was heading up regardless of what oil did (excluding a huge drop below 60). Now, I would guess the current strength in NEP trading over $10 is more tied to the strength in oil as it has approach a fairer valuation.
keep an eye on MNAP. a big deal will hopefully be finalized sometime next week related to their Albania PSC.
a little reading for those interested:
http://finance.yahoo.com/news/Chairman-and-CEO-of-Manas-iw-3110903857.html?x=0&.v=1
http://finance.yahoo.com/news/Manas-Is-a-Step-Closer-to-iw-931262347.html?x=0&.v=1
NEP - anyone who sold off the last few days buy back their position today?
FEEC - Anyone keeping an eye on FEEC? Since yesterday afternoon's presentation (Pritchard Capital Partners Conf), they are up over 25%. Link to presenation:
http://www.wsw.com/webcast/pritch2/feec.ob/
They have a large number of shares outstanding - 222M fully diluted. But they are sitting on over 2 Tcf of coal based methane in their northern Shouyang acreage alone. The presentation is worth a listen and a look. If anyone gets a chance to listen to the presentation, please share your feedback. I just reentered the stock 3 days ago.
NEP - Thoughts on where support for NEP is?
NEP - For those who took profits in NEP the other day - any thoughts on a reentry point. Feeling a little better this morning about selling 1/2 my shares on Tuesday.
I'm fully invested here and plan on holding my shares for the foreseeable future. Just curious how soon we should expect a move to the Nasdaq (preferable) or the AMEX. I recall the company was under obligation (due to terms in one of the capital raises last year) to uplist by April - is that correct? Best of luck!
Anyone up to speed on where BSPM stands in the uplisting process? Will they need to trade above four for 30 or 60 days before they are eligible to uplist to the nasdaq? Just curious when we should see an announcement.
Mega dittos!
I'm not nearly smart enough to make the kind of return I've made the last few months. Many thanks to all here - especially CSP and the other moderators!
BSPM - Anyone up to speed on where BSPM stands in the uplisting process? Will they need to trade above four for 30 or 60 days before they are eligible to uplist to the nasdaq? Just curious when we should see an announcement.
FEEC -- I agree atco - I just rebought some shares the other day. I don't think FEEC is one that will shoot up overnight like a lot of the movers here, but buying some on the dips to sit on should pay off well in the next year. They are sitting on a ton of CBM gas. The northern Shouyang field has been confirmed to be high permability/high gas content which is a rarity. As you mentioned, 2 pipelines leading to two of the largest cities run thru this area as well. I think $1.50 to $2 a share is very dooable by the end of the year. Not a bad return at all.