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Will History be repeated with time?
BioPharm Asia, Inc. Comments on Current Status of Filing 2009 Annual Report on Form 10-K
4/26/2010 9:47:49 AM
SHENZHEN, China & LOS ANGELES--(BUSINESS WIRE)--BioPharm Asia Inc. (OTCBB: BFAR - News), a rapidly growing pharmaceutical company in China, today announced that it is preparing its Annual Report on Form 10-K for the year ended December 31, 2009. This filing has been delayed due to the change in the Company’s auditors, which occurred in late February, and the recent appointment of Wenzhong Qin as its Chief Financial Officer, which occurred on March 23, 2010.
source: http://www.clinicaspace.com/News/biopharm-asia-inc-comments-on-current-status-of/178013
And when was the 10-k filed after this press release?
May 12 2010.
source: http://google.brand.edgar-online.com/DisplayFiling.aspx?TabIndex=2&FilingID=7250325&companyid=60191&ppu=%252fdefault.aspx%253fcompanyid%253d60191
Given that this time around, they have to file 10-k's for 3 years plus they are under no 15 day time limit, the delay may be excused.
But if history were to repeat itself, which I'm convinced it will soon, we'll all be richer.
That is exactly right. The BFAR numbers redirect to Huachen and like I said here last week there is usually a recording but if you call at the right time someone will answer. Huachen is definitely still in business.
Tight I guess what you're saying is if these entities hold such major blocks and are holding on to it, what reason do the little fishes have to sell off...right?
You're absolutely right. I've decided not to engage in pointless exchanges with certain persons who have made up their minds.
Ok fine.. you're right you're always right.
That's where we disagree. The problem with you is you want everyone to accept your interpretations and your "investigations" as true.
You seem to forget that this company had a history before those PR's you refer to and has never been charged with fraud.
If you're right, fine. If I'm right and you're wrong I make money and you don't. Again I still have no idea what you're doing on this board after you sold out.
If it's an answer you're looking for, you'll be disappointed because no one on this board can give you one.
I for one am not really bothered by the website being inactive because that site is as good inactive as it was active especially in the last year or so. It had not been updated in ages.
Unlike some, I don't believe that the website or lack of frequent communication with shareholders is a sign of a company in trouble. My sense is that one of two things could be happening.
1. Either management has chosen to operate largely in silence and without "harassment" from shareholders (the Chinese do not have the most open culture out there).
2. Or, it could be a strategic move to withhold news which when released now will have little impact on the share price, to be released after the financial statements.
Time will tell but option number 2 is what I'd hope for.
I see the sarcasm and disbelieve written all over. I didn't need to ask about filings and what not. They've made their intentions clear about that. All I was interested in was to find out whether the company or rather any of its subsidiaries were in operation and for that the answer was a clear YES!!!
I called +86 43552 11 803. That's the number on the last 10k. If you call a few times between after 9pm someone will pick up and not just the machine. I do not speak mandarin (save a few words) but thank God I know several people who do.
Another piece of information that might interest some on here is that the phone number on the last 10k filed is active as is the one for the hospital in Fujian even though you might have to try that a few times before it is answered.
An employee of Tonghua Huachen Pharmaceutical a subsidiary of BFAR answered the phone they are indeed still in business as are all other subsidiaries to the best of my knowledge.
Mind you China is a good 12 hrs or so ahead of us (eastern time).
english.jl.gov.cn/News/GeneralNews/201112/t20111206_1114933.html
I think this article is interesting and should maybe enlighten us as investors in this company.
BFAR subsidiary Tongshua Tianbao Cuttivation Company, acquired by Huachen (HERB) another subsidiary of BFAR is in the business of cultivating wood frogs as most of you already know.
If I remember correctly, a forumer questioned how a company could make so much money from cultivating wood frogs? Well it turns out from this article that it's a growing and profitable industry after all with not a whole lot of players.
The PR of December 5 2011 "Preliminary unaudited results from 2011" confirms this increase in profitability and demand for wood frog. All that matters now is validating those numbers and for that, I, like most forumers wait patiently.
My point is it is not unreasonable after all for BFAR to announce increase in profit from woodfrog cultivation.
Thanks for the insight.
so when is the next pop going to be according to your interpretation of the chart?
Has anyone else seen this? Was there an announcement that was missed in June last year?
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=47792513
I'm with you.. it's all or nothing.
Not verifiable according to you. Like I said. I have my reasons for staying in this. I don't know what you have done to try to verify the PR's but I sure do know what I have done. So far I'm convinced it's worth the risk.
Ok thanks. The only thing is unlike you, I don't believe this to be a scam at all. I have my reasons as I'm sure you do too for what you believe.
I really appreciate your concern. The fact is I've been holding this since last year. You think one day of trading is going to make me dump it? No way. I did my DD before buying this stock and so far I have not seen any convincing evidence to make me sell it only wild speculation. I don't trade based on wild speculation.
If you accept that the chinese are not as open and PR friendly as most American companies, you'll be willing to buy or even hold on longer if you already have.
so your argument is nothing is true unless it can be found online?
Well thank God you sold out then.. now leave the rest of us to suffer at our own will.
I called this one.. now let them make good on their promise like I suspect they will.
One thing is for sure. There will be a filing soon because it's in the interest of the insider shareholders to do so. We're getting closer with each passing day.
I have a feeling news is on the way. Going to average down. The supposed acquisition should be closing by the end of this month or so.. maybe they'll make an announcement of that coupled with a filing? The perfect recipe to run this up.
Understood. Thanks for the piece of information. If indeed the auditors are the hindrance to the fillings as folks on the other board seem to suggest then I hope they're replaced. The wait here has been really long but I still suspect it'll be worth it in the end.
How do you make that leap in logic? As far as we know these are two distinct companies.
I agree. I've always said that there is something about this company that makes me believe that they're not a scam like others do.
March to May is more than enough time after the appointment of an independent director to file something.. don't care what it is or come up with some market moving update on the current status of the company.
I've been trying to spell out to folks on here why this stock is trading at this level and receiving the kind of negative sentiments that it is but most still remain unconvinced.
This here will take some time. I've been on here for months now and willing to hold till it resurrects or condemned.
Thanks for the info Rdoggy.
It's a matter of semantics and legal terminology.
Not all agreements are enforceable by law. You can have an agreement but not a contract. In this case they will have a contract when all the terms and conditions have been fulfilled. Before then, all they have is an agreement to acquire on paper (negotiations if you will). so "subject to" and "to acquire" mean the same thing in this context.
As much as I admit there are some loose ends,there could be a reason for all of this.
First of all this company has been around for a while and used to
file regularly with the SEC. Something must have happened on or about November 2010 and early 2011 which led to their delinquency and subsequent delisting.
The official record with the SEC points to some internal wranglings, CEO resignations, desire by a subsidiary to not be a publicly traded company, coupled with the expiration of the license of their auditor.
I see a company here trying to get back on its feet as far as filings and maintaining a good public image is concerned. I'm going to give them the benefit of the doubt. It might be a gamble, but the risk reward ratio says it's worth taking.
I refuse to believe that a group of crooks would be able to outsmart us all in this manner and falsify several documents such as leases to land, statement of beneficiary ownership and what have you without being caught at least once.
I have also checked private blogs and Fujian province website and located the address and name of the hospital facility they supposedly recently acquired as well as local newspapers carrying the story.
I'm willing to wait a couple more months. The truth will certainly come out. However unpleasant or otherwise.
Lol.. you're quite funny. Does Michael and Chang go together? According to you probably not. lol.. now this is becoming ridiculous... btw. I did find Elite Capital Advisors. It's a legit co. But I won't spill all the details of what I found but just so you have an idea. check out this link.
http://www.linkedin.com/company/elite-capital-advisors-beijing-china-
Check Elite Capital Group in Hong Kong.I already did.
I think the company has shown that they'd rather do work behind the scene than answer questions from investors. It's just their style... IMO.
If your suspicion were right this thing would have gone dark ages ago. Patience my brother. K. Wong is busy preparing to file those regs that'll make you super rich.
speculation. I wonder if you'll sing a different tune if and when this thing takes off.
you guys need to be patient. ALL these theories because BFAR is not running like the way you'd hope or expect? It's just a matter of time with this thing. Just a matter of how long you wish or can afford to wait but IMO this is legit and will be a money maker in the long run.
Don't you think Mr. Wong would have come out to deny his affiliation to the company if indeed they put his name out as part of their "scam"? Paranoia is probably what you're experiencing as you rightly pointed out but I can't say I blame you for that.. I've had my own spells of that in the past about this company but my faith has been renewed. Here till the end!
I hope people take into account that today was a really bad day on the market.
I believe a number of members have received e-mail responses from that accounting group confirming they're engaged with BFAR.
High volume here today.Lots of activity. Compared to the last few months this is sort of a positive. The anticipation for audited financials starts now. Let those with faith buy more or hold on to what they already have. Interesting times ahead.
well the guy is at least real and his credentials are solid all over. I don't think a discrepancy like whether he attended U kentucky or not is a big deal... it's an omission at worst or could be a recent development. Do you know when that PWC profile was made? or whether or not this is the exact same Kenneth Wong. Mind you names like Wong and Chang are quite common.
I've read the PR today carefully many times. Only one conclusion. These folks are now waking up to reality. It sounds like they have every intention to meet their regulatory obligations now. Can't wait for those filings. Hopefully it's soon.