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YUMBERRIES up 37%!!
CAGC +22%, big spread but getting action
thanks for the heads up bagheera!
CHFR .20 x .22 China Fruit! lol
CSGH (1.90) +18.75 %
GVGDF .83 x 1.01 spread shaping up?
China Sun Group Reports Strong Revenues of $8.3 Million and Achieves Profitability in Fiscal 2007
Old news, but I hope this is what you're talking about SSP
:)
Sep 6, 2007 12:36:00 PM
LIAONING PROVINCE, China, Sept. 6 /PRNewswire-FirstCall/ -- China Sun Group High-Tech Co., (OTC Bulletin Board: CSGH.OB) ("China Sun"), formerly known as Capital Resource Funding Corp., announced today its audited financial results for the fiscal year ended May 31, 2007. All results presented herein are represented in U.S. Dollars. Full details are available on Form 10-KSB filed at http://www.sec.gov.
Highlights
-- Revenue increased eight-fold to $8,275,066 compared to $277,715 for the
year ended May 31, 2006
-- Income from operations grew to $1,400,18 compared to loss from
operations of $343,950 for the year ended May 31, 2006
-- Net Income increased to $529,086 or $0.01 per share compared to a net
loss of $127,601 or $(0.01) per share reported in fiscal 2006
"I enthusiastically report that in our first year of operations we achieved impressive revenue growth and profitability," said Bin Wang, CEO of China Sun Group. "In April 2006, our subsidiary DLX commenced production and quickly amassed sales of over $1.5 million. Our strong performance in fiscal 2007 indicates we can continue to drive sales momentum by servicing manufacturers with the highest quality components for lithium ion battery circuitry."
Accomplishments in Fiscal 2007
-- Successfully acquired, integrated and commenced operations of majority-
owned subsidiary Da Lian Xin Yang High-Tech Development Co. Ltd ("DLX")
based in China. DLX is the second largest non-governmental manufacturer
of high-tech cobalt series products in Asia, according to the Chinese
Battery Industry Association.
-- DLX served six leading battery producers in China since production
began in April 2006. These customers are: Hunan Shanshan Advanced
Material; CITIC Guoan Mengguli Corporation; Hunan Reshine New Material
Co., Ltd.; Changzhou PowerGenie Materials Co., Ltd.; Xiamen Tungsten
Co., Ltd.; and Beijing Easpring Material Technology Co., Ltd., one of
which accounted for 76% of total revenues.
-- During 2007, China Sun launched various marketing campaigns resulting
in adding several new customers including: Zhejiang Tianhong Energy
Technology Co., Ltd.; Zhejiang Wanma Battery Co., Ltd.; Guangzhou
Huaneng Battery Co., Ltd.; and Shenzhen Sunristar Electronics Co., Ltd.
In the international market, China Sun approached potential customers
such as Panasonic, Sanyo, Maxell and Samsung.
-- Began construction on a state-of-the-art R&D test and detection center,
equipped with detection and test apparatus and instruments. The center
will be used to conduct internal product quality controls reviews and
keep abreast of the latest technological developments.
Financial Results
Revenues for the year ended May 31, 2007 totaled $8,275,066 compared to $277,715 for the year ended May 31, 2006, an increase of $7,997,351. The increase resulted from new sources of sales channels and market demand from business development of new customer. Cost of revenues for the year ended May 31, 2007 totaled $4,758,023 compared to $Nil for the year ended May 31, 2006. General and administrative expense for the year ended May 31, 2007 totaled $1,247,533 compared to $163,341 for the year ended May 31, 2006, an increase of $1,084,192. The increase resulted from the allowance of a doubtful account of $777,831 and the overhead for a new office setup in the United States.
Research and development expense for the year ended May 31, 2007 totaled $89,166 compared to $83,000 for the year ended May 31, 2006, an increase of $6,166. The increase resulted from the continuous development of new products and advancement of manufacturing methods.
Income from operations for the year ended May 31, 2007 totaled $1,400,185 compared to a loss from operations of $343,950 for the year ended May 31, 2006, an increase of $1,744,135. The increase resulted from growth in sales. During the years ended May 31, 2007 and 2006, net cash used for operating activities was $730,162 and $651,081, respectively. During fiscal 2007, operating funds were primarily used for working capital and increase the balance of trade accounts receivable.
Net cash used for investing activities was $72,764 and $5,836, for the years ended May 31, 2007 and 2006, respectively. During fiscal 2007, investing funds were primarily used for the purchase of plant and equipment. Net cash received from financing activities was $1,297,272 and $542,623, for the years ended May 31, 2007 and 2006, respectively. During fiscal 2007, financing funds were primarily received from the settlement of the amount due from a related party.
Recent Developments
-- Entered into a contract with the Japanese company Honjo Chemical Co. to
supply them with a fixed amount of 20 tons of cobaltosic oxide every
month, for 12-months, beginning in July 2007. The price of the
cobaltosic oxide to be purchased will be based on the London Metal
Bulletin (MB) (http://www.lme.co.uk). China Sun projects the order will
deliver monthly sales of approximately $1,050,000 per month, resulting
in total revenues of approximately $12.6 million over a one-year
period.
-- In the international market, DLX approached several potential customers
who have shown strong interest in its product line including: Tanaka,
Honjo, HLST, Sanyo, Sony, Panasonic, Nihonkagakusangyo, Maxell, LG,
Samsung, SK, Hanhua and Light & Future.
-- Through its R&D group, China Sun has successfully acquired nanometer
technologies to create the following three series of nanometer metal
products: Nanometer Simple Metal Substance; Nanometer Compound Metal
Substance; and Nanometer Metal Alloy. These innovative technologies
will help meet new demand for state-of-art applications in anode
materials.
-- In June 2007, DLX entered into a Contract of Cooperation to purchase
80% of the mining and prospecting rights to cobalt mine owned by
Shengbao Group and South African Shengbao Mining Enterprises
(collectively "Shengbao") in Lubumbashi, Katanga, Democratic Republic
of Congo. Shengbao will own the remaining 20% and will be given the
right to purchase any surplus cobalt mined, once DLX has filled its
backlog of orders. DLX plans to set-up its own facility near the mine
to produce finished cobalt products from raw cobalt ore in Africa. The
processing facility is designed increase the extraction rate of the
cobalt, and decrease production costs by creating a direct channel from
the mine to the processing plant.
-- The Embassy of the Congo Government visited Capital Resource in August
2007 to discuss government investment strategy in DLX's mining and
production facility in Africa. The Embassy indicated their strong
support and future collaboration in helping DLX achieve its goals.
-- Executive management team of China Sun completes the world-leading
training and consultation program Six Sigma Management
-- Receives Preliminary Accreditation from the State Intellectual Property
Office of the People's Republic of China
-- Effected a corporate name change from Capital Resource Funding Corp. to
China Sun Group High-Tech Co. to better reflect its corporate identity
in the high-tech global lithium battery manufacturing industry and was
assigned a new trading symbol of CSGH.
Mr. Wang commented on the Company's business outlook, "DLX has the expertise and sizable production capacity to support our existing and new customers. The acquisition of the Congo mine, establishment of a comprehensive supply chain for lithium ion batteries and components, and new capabilities incorporating nano-technologies, should increase our market share among lithium ion manufacturers and end users of finished products worldwide. We are on track to substantially grow our revenues and earnings in fiscal 2008 and beyond."
About China Sun Group High-Tech Co.
China Sun Group High-Tech Co., formerly known as Capital Resource Funding, produces anode materials used in lithium ion batteries. Through its majority- owned operating subsidiary, Da Lian Xin Yang High-Tech Development Co. Ltd ("DLX"), the Company primarily produces cobaltosic oxide and lithium cobalt oxide. According to the China Battery Industry Association, DLX has the second largest non-governmental manufacturer of high-tech cobalt series products in Asia. Through its R&D group, DLX owns a proprietary series of nanometer technologies that supply state-of-the-art components for advanced lithium ion batteries. Leveraging its technological leadership in China, high-quality product line and scalable production capacity, DLX plans to create a fully integrated supply chain from the primary manufacturing of cobalt ore to finished products, including lithium ion batteries. For more information, visit http://www.china-sun.cn/English/Aboutus.asp.
Safe Harbor Statement
Statements in this press release which are not historical data are forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the company's periodic filings with the Securities and Exchange Commission.
SOURCE China Sun Group High-Tech Co.
----------------------------------------------
Thomas Yang
Assistant to the President
China Sun Group High- Tech Co.
Tel: +1-917-432-9350
U.S. or +86-411-8289-7752
China
Fax: +86-411-8289-2739
yang_xianfu@yahoo.com.cn; or Investor Relations: Peter Clark
OTC Financial Network
Tel: +1-781-444-6100 ext. 629
peter@otcfn.com
for China Sun Group High-Tech Co.
Every 4-0 team coming into Buffalo since the 1970s has left 4-1. Saw that on ESPN this evening.
Major streak playing out here once again. We'll see.....
I played CSGH. Is 43MM O/S kinda big for a stock at these price levels, iyo?
Looks good for tomorrow's watchlist, imo. :)
CSGH with ABAT uplisting tomorrow?
check this out
Posted by: wickerman
In reply to: yafu who wrote msg# 1099683
Date:10/8/2007 2:45:17 PM
Post #of 1099786
CSGH & ABAT doublers (new AMEX symbol GBT tomorrow), Chinese battery manufacturer:
http://seekingalpha.com/article/49102-advanced-battery-technologies-to-double-with-new-amex-listing?....
CSGH supplies the lithium/cobalt for the batteries!!
CSGH $2 COME TO DADDY@!
Thanks for the input WildBill. Your input is also greatly appreciated, as always!
AVNR definitely in the list today negger. wish it would have held that opening price level though. watching for afternoon bump. :)
.70 print for you maxie!
CSGH party at the moontower! I think $2 is coming again.
I thik CSGH is explosive too. Looking for $2.00 again today.
CDGT lookin good on L2
NATIONAL SECURITY COUNCIL
WASHINGTON, D.C. 20504
January 25, 2001
INFORMATION
MEMORANDUM FOR CONDOLEEZZA RICE
FROM: RICHARD A. CLARKE
SUBJECT: Presidential Policy Initiative/Review -- The Al-Qida Network
Steve asked today that we propose major Presidential policy reviews or initiatives. We urgently need such a Principals level review on the al Qida network.
Just some Terrorist Group?
As we noted in our briefings for you, al Qida is not some narrow, little terrorist issue that needs to be included in broader regional policy. Rather, several of our regional policies need to address centrally the transnational challenge to the US and our interests posed by the al Qida network. By proceeding with separate policy reviews on Central Asia, the GCC, North Africa, etc. we would deal inadequately with the need for a comprehensive multi-regional policy on al Qida.
al Qida is the active, organized, major force that is using a distorted version of Islam as its vehicle to achieve two goals:
--to drive the US out of the Muslim world, forcing the withdrawal of our military and economic presence in countries from Morocco to Indonesia;
--to replace moderate, modern, Western regime in Muslim countries with theocracies modeled along the lines of the Taliban.
al Qida affects centrally our policies on Pakistan, Afghanistan, Central Asia, North Africa and the GCC. Leaders in Jordan and Saudi Arabia see al Qida as a direct threat to them. The strength of the network of organizations limits the scope of support friendly Arab regimes can give to a range of US policies, including Iraq policy and the Peace Process. We would make a major error if we underestimated the challenge al Qida poses, or over estimated the stability of the moderate, friendly regimes al Qida threatens.
Pending Time Sensitive Decisions
At the close of the Clinton Administration, two decisions about al Qida were deferred to the Bush Administration.
-- First, should we provide the Afghan Northern Alliance enough assistance to maintain it as a viable opposition force to the Taliban/al Qida? If we do not, I believe that the Northern Alliance may be effectively taken out of action this Spring when fighting resumes after the winter thaw. The al Qida 55th brigade, which has been a key fighting force for the Taliban, would then be freed to send its personnel elsewhere, where they would likely threaten US interests. For any assistance to get there in time to effect the Spring fighting, a decision is needed now.
-- Second, Should we increase assistance to Uzbekistan to allow them to deal with the al Qida/IMU threat? [Redacted, Operational detail, removed at the request of the CIA]
Three other issues awaiting addressal now are:
-- First, what the new Administration says to the Taliban and Pakistan about the importance we attach to ending the al Qida sanctuary in Afghanistan. We are separately proposing early, strong messages to both.
-- Second, do we propose significant program growth in the FY02 budget for anti-al Qida operations by CIA and counter-terrorism training and assistance by State and CIA?
-- Third, when and how does the Administration choose to respond to the attack on the USS Cole. That decision is obviously complex. We can make some decisions, such as the those above, now without yet coming to grips with the harder decision about the Cole. On the Cole, we should take advantage of the policy that we "will respond at a time, place, and manner of our own choosing" and not be forced into knee jerk responses.
Attached is the year-end 2000 strategy on al Qida developed by the last Administration to give to you. Also attached is the 1998 strategy. Neither was a "convert action only" approach. Both incorporated diplomatic, economic, military, public diplomacy and intelligence tools. Using the 2000 paper as background, we could prepare a decision paper/guide for a PC review.
I recommend that you have a Principals discussion of al Qida soon and address the following issues:
1. Threat Magnitude: Do the Principals agree that the al Qida network poses a first order threat to US interests in a number or regions, or is this analysis a "chicken little" over reaching and can we proceed without major new iniciatives and by handling this issue in a more routine manner?
2. Strategy: If it is a first order issue, how should the existing strategy be modified or strengthened?
Two elements of the existing strategy that have not been made to work effectively are a) going after al Qida's money and b) public information to counter al Qida propoganda.
3. FY02 Budget: Should we continue the funding increases into FY02 for State and CIA programs designed to implement the al Qida strategy?
4. Immediate [Redacted] Decisions: Should we initiate [Redacted] funding to the Northern Alliance and to the Uzbek's?
Please let us know if you would like such a decision/discussion paper or any modifications to the background paper.
Concurrences by: Mary McCarthy, Dan Fried, Bruce Reidel, Don Camp
Attachment
Tab A December 2000 Paper: Strategy for eliminating the Threat from the Jihadist Networks of al Qida: Status and Prospects
Tab B September 1998 Paper: Pol-Mil Plan for al Qida
look how nice CDGT is playing!
I say YES $2.00 again. :)
thanks for clarification! I always appreciate your input SL!
CSGH well DOMS showed up with the cops. lol
MITR is an MM on PAVC. Sorry for confusion. lol
It's an MM on PAVC
CSGH OMG!
what do you make of MITR SL?
CSGH gonna break $2.00?!!
PAVC who is MITR?
CDGT holding the best gap so far!
SOIGF multi day zinger again!
GM stuffit :)
yessssir! GM all!
Internet. friggin Charter.
man I would have a great week too had I not lost my connection for the better part of yesterday!
still nice with TLTK and CYTV though.
especially when it's the only stock that's up from it's A.M. price levels on my watchlist. lol
I'm OK though. Patience is a virtue.
my buy of $2.50 @ 10:30 RJCT'ed. :(((((((
Thanks ETrade for "protecting me".
SOIGF nice multi day runner!
I've been staring at BRGE for an hour. lol
CNLG restriced online for Eturd. Probably means it's a good buy. lol
Good lord is lunch over yet? lol