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Still a very bad taste in my mouth because that things can happen like they happened with Jiangbo, appearently there is no organisation like SEC or Nasdaq or whatever that protects invdestors from these scams. Very big shame...
Thanks for keeping us informed. Let the truth be known...
This is a 100-bagger, to the downside!
Are you sure?
Because I don't think so and you know I am right...
I like this stock, it reminds me of the unimportance of money...
I can now look back at my huge loss with a smile, is that zen or what
To the ones I've had a meaningfull contact with on this board: happy holidays !
(I know it is a little early, but I didn't want to let the opportunity go by)
Where are the numbers on fiscal year 2011, that ended June 30th?
Where are the numbers on Q1 of fiscal year 2012, it ended Sept. 30th?
FRAUDSTERS
If you think $14 is a realistic target, you probably will buy my shares for $7 without a doubt.
You would make me happy...
Yeah right ...
I think it will soar up to the original shareprice of $16 (from just after the reverse merger in 2007), and then we all will be happy.
Let's party, who brings the kool-aid?
Sure believe him and buy all the shares you want. I can give you a couple of thousand shares for free...
So Pope is going to get their money back and we are really left with an empty bag?! See today's filing.
And here the contract.
What a f'ed up joke this is !
Where were SEC and Nasdaq when this glamorous stock was admitted to list?
I am sorry BigGreen, I can't give you info because I haven't been there. I was too afraid that I would hurt someone, if I actually went to the shareholdermeeting....
I guess now we know what it is to be a bagholder.
Man am I pissed off.
If you check filings with SEC of Pope, Wellington, Sansar they held a huge amount of shares. But it is still not 100% sure they where holding these at the moment of the halt. Since then none of these companies have filed their holdings.
If they where still holding, I hope such companies will find a way to get Jiangbo on the right track, then maybe for us "simple shareholders" something of value will remain...but I doubt it. I guess that &*#*& of Wubo Cao tricked us all and the big ones included.
I am very mad, not only at the company but also at myself.
If it sounds to goo to be true, it probably is too good to be true. Should have listened... now I am holding a bag and going to loose serious money. Learning a lesson the hard way.
What if other law-firms start class action lawsuits also? Which to join or can only one firm actually file such a lawsuit?
Does anyone of you guys know if I can join such a lawsuit since I am from europe?
Am going to lose an awfull lot of money, sure would like to get some money back.
@Thunderstuck: I guess you're visiting the annual meeting for professional reasons or are you dissapointed as we all are, and going there as shareholder on a personal note?
A (short) summary of your visit and findings would surely be appreciated.
How can Nasdaq and SEC and accounting firms let such companies as these get listed on Nasdaq?
U N B E L I E V A B L E
I agree with the part where you say that you see it get worse, but I can't imagine how things could get better...
There is a lot to read in the latest filing...
Serious trouble....
They are hiding some massive issues. Damn damn damn
Someone wants to join me in attending the next shareholders meeting in China, in a few weeks? Maybe we can claim our money and give them back their worthless shares....
So Jiangbo will be delisted soon? And then we can dump our shares on the OTCBB for pre-merger prices, like $0.05
Pope now owns more than 1,750,000 shares, is that because they have been awarded shares instead of a payback of the debt? Or is his another penalty Jiangbo had to pay?
Their number went from 744,696 to 1,750,056 that is a big increase?!
@valueinv:
I've sent an email to Coulson last week: no answer.
The latest filing handles an annual meeting during which a vote will be held for a stock incentive plan for employees, right, like they can do something with a piece of worthless paper?!
What is going on here, why can't we find out why the trading is halted, what does Nasdaq want to find out?
I should expect a PR from JIangbo, but on the other hand maybe they aren't allowed to bring news out untill they have fulfilled Nasdaq's requests. Shame that nasdaq doesn't make clear what they asked for. I sure don't hope my shares will turn out worthless, that would make feel like a very dumb M^%^%F^*ER....
I can't believe Pope holds more than 1 Million shares and this thing is halted. What about Wellington, they wouldn't hold on to 600k+ shares to see those turn into toiletpaper, would they?
Guess we are not alone going down the drain. Or have the big institutions got out on time?
If it sounds too good to be true it probably is too good to be true?
Time will surely tell, but I feel screwed by those M&^%^%F*&*&RS
I guess we are getting screwed or what....
Today's price-action makes me
I guess this is the lowest price in quite some years?!?
$3.14
Anyone listen to the CC ? Some comments or quotes would be appreciated.
Today was a perfect day again for shorts to cover....
Why still no solution for transferring money from PRC to USA?
Why not even a conference call this time?
?
Sure we have a stunning $146M in the bank, but what are they going to do with it? Jiangbo will porbably buy a distributor, is that going to use up al that cash?
There is an agreement that arranged for interest and penalties to be paid in shares. That was about the interest and penalties until March 1st (for the $5M deal). Jiangbo still has to repay the debt itself and any interest after this date. There is no agreement on repaying the debt itself... The $5M deal had to be repaid in Nov 2010.
Then there is the the $30M deal which has to be repaid 31st May 2011. Probably they will not be able to do that, so expect some news on that in the coming weeks...
That is what I can make of it, would like to see some confirmation, I am not that good with SEC filings.
It always make me wonder why others don't see it like that and start buying shares.
I guess the only things that are in the way of reaching a shareprice like $15-20, are finalizing the deal with Pope (Jiangbo still needs to repay the debt, don't they?)and the warrants that expire in 2013.
We are all eagerly awaiting the numbers of the 3rd quarter. I have been reading through the old numbers of the fiscal years 2008/2009/2010. As I combine those with the first quarters of fiscal year 2011, that brings me to the following calculations.
Q1-FY2011 net income 10.5 Million
Q2-FY2011 net income 11.1 Million
----------------------------------------------------------
Now if we take the worst Q3 and Q4 of 2008/2009/2010:
Q3 assuming a net income of 4.5 Million (like Q3-FY2008)
Q4 assuming a net income of 7.0 Million (like Q4-FY2010)
That adds up to a total net income of 33.1 Million
Approx. 14 Million shares outstanding -> EPS $ 2.36
----------------------------------------------------------
Now if we take the best Q3 and Q4 of 2008/2009/2010:
Q3 assuming a net income of 15.1 Million (like Q3-FY2010)
Q4 assuming a net income of 11.4 Million (like Q4-FY2009)
That adds up to a total net income of 48.1 Million
Approx. 14 Million shares outstanding -> EPS $3.43
----------------------------------------------------------
Multiply those numbers with a P/E of 7 that should bring us a shareprice of $ 15 - $ 21
I'll keep on daydreaming...
As with all my trades in the last few years I'll probably regret it soon....
Or maybe this time things are really changing to the better for Jiangbo.
To make a positive contributiuon to this board:
I just purchased 1,000 shares @ $4.00
Nice work guys! Something is about to happen I guess.
Start from scratch, so that we lose all the rubbish from the past?
By the way: congratulations on your new position: Moderator
That explains the downward pressure on the stock-price I guess. But what do shorts know that we don't, for them to take such large short positions?
On the other hand, what I don't like:
they generate only 4.4Million in net income from 100M+ revenues.
I bet Jiangbo has some plans to upgrade that number a bit ....
Finally some real news...
Cash 135 Million !
Net income 11 Million !
Basic earnings per share $ 0.87 !
Nice, nice, nice
Think of this:
traditionally the 3rd and 4th quarter bring in more net income than Q1 and Q2.
Net income:
Q1 10 Million
Q2 11 Million
Q3 11 Million (assumption)
Q4 11 Million (assumption)
That means a net income of 43 Million, divide that by let's say 14 Million shares: eps = $ 3.07 !!!
Multiply that with a very conservative PE of 5: price per share $ 15
Numbers are going to be late, see filing, just can't find how many days later...
Seems Wellington has increased its position in Jiangbo, they now own 692,200 shares. (Why are there two almost identical filings on this? Or do they own 2x 692,200 shares?)