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Hello $13, bye bye $12. Oops too early....
Tomorrow another day with +100k shares traded?
I think so.
Cash and debt, we have them both here, fortunately we have a lot more cash than debt!
On yahoo board someone suggests it could be that there were warrants excercised and the shares then sold. That sounds plausible, but who would be buying such an amount of shares, if not an institutional buyer it has to be an insider (could only be Mr. Cao) or the company itself?
If it were warrants than the company has been paid 200,000 x $8 and it had to pay 200,000 x $12.39 if they bought the shares back themselve. Not a bad deal paying $4.39 a share...
Does a company have to file that with SEC? (buying back shares, I mean)
Or am I missing something?
Time will tell and I don't think we will have to wait long
Another 100,000 shares traded already ?
Say hello institutional buyer!
Would be cool if an insider bought that number of shares!
Or maybe the company is/marketmakers are working on these requirements:
The May 2008 Notes are convertible at the option of the Company if the following four conditions are met: (i) effectiveness of a registration statement with respect to the shares of the Company’s common stock underlying the Notes and the
Warrants; (ii) the Volume Weighted Average Price (“VWAP” of the common stock has been equal to or greater than 250% of the conversion price, as adjusted, for 20 consecutive trading days on its principal trading market; (iii) the average dollar trading volume of the common stock exceeds $500,000 on its principal trading market for the same 20 days; and (iv) the Company achieves 2008 Guaranteed EBT (as hereinafter defined) and 2009 Guaranteed EBT (as hereinafter defined).[/]
WHat is happening here ?!?@!?@!?!?@@#$%^&
Pope dumping cold be true: nice profit $4 dollar a share for them.
Or it could be institutional buying,
or Mr. Cao wants some more shares himself now that they are cheaper than after the uplisiting,
or sharebuyback program in action 195,300 x $ 12.39 = $ 2,400,000
I am a little confused...
I am sorry guys, I wanted some more shares...
I admit I haven't found any other company yet that PR'ed that they had filed the application. I am very confident we will be on the Nasdaq before the end of the year. And then after that we will see other nice news. I think 2010 is going to change from a "transitional year" to a GREAT YEAR!
GLTA
Nice to read what has happened with the pps of other chinese companies that have uplisted recently:
http://www.thestreet.com/story/10601158/china-uplisted-stocks-to-watch.html
I hope the people of JGBO have read all the documents on this website: http://www.nasdaq.com/about/china_listing_guide.stm
then we should be just fine within a few weeks!
New highs on the way for sure.
But as always, time will tell.
I have found one: http://www.breitbart.com/article.php?id=prnw.20081208.CNM034&show_article=1
They say they filed an application but (so far) didn't make it, still on OTC:
http://finance.yahoo.com/q?s=KVME.OB
Nice to see some new names here. I hope this wakes up this board a little. Would be nice to get some more discussions going and maybe new people provide new insight.
Traderfan I think you are right on the fact that JGBO themselves called 2010 a transition year and therefore we are having a little stagnation. I remember they made a statement that their prediction for FY 2010 only included the drugs they were selling already: the new drugs that are expected hadn't been included. So my bet is we will see better than predicted revenues (and thus net income).
First things first: uplisting. I think I've read somewhere that review of the application could take 6-8 weeks. So Biggreen's guess would be very plausible.
@LordVader: I doubt by the way if JGBO still owns shares of Lotus, I can't find any mention here:
http://moneycentral.msn.com/ownership?Holding=5%25+Ownership&Symbol=LTUS
BigGreen101, as always you've summed it up quite well. Short term we should be golden. I share your concern on the mid-term forecasts because of the debts. On the long term, after these debts have been repaid or converted, I see a bright future ahead.
I have googled a lot trying to find more info on that problem with cash flowing from China. Been trying to find out if, how and when other companies have resolved that issue. Unfortunately the issue stays a little foggy to me...
I was thinking how come that you have a chinese accent ?
LOL
Wubo Cao holds about 4~5 million shares but unfortunately he doesn't post here...
AccipiterQ, you can count me in! I am holding shares for sure. Been holding for long and I am going to hold on till we've seen: 1. uplisting, 2. new drugs, 3. acquisition.
Not going to sell before we've reached $40. I know that may take 3-4 years, but could happen a lot earlier too. It all depends on how fast things will happen. Once we're uplisted JGBO could make fast progression.
Where is the news?
Nice volume, start of a rally?
I hope they will be buying a company that is very good in western medicines. With Hongrui they already bought a company which has a lot of TCM's.
Hi BigGreen101, my guess is that we will be reading news within a month.
That is based on this post:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41981008
and this one:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41982778
There is aways a little bit of uncertainty. I haven't heard the conference call myself and think it is a little strange they didn't mention it there ?! But then again someone on this board gave a plausible explanation: they aren't allowed to mention that they have submitted their application. Just to make sure hat a company can't use that in a pump and dump operation.
Something else that came across my mind:
If all the possible shares and warrants of the financing deals came in to the float, total outstanding would be something about 17 Million shares. Pope may not hold more then 9.99% of the outstanding shares. So they have to sell and others will buy these shares. Is it possible that Pope and Mr. Cao then wouldn't have a majority together with Qiao Pengju anymore? Together those 3 own about 7 Million shares (See page 69 of the last 10-K), that is more than 50% now, but if the oustanding shares go up to 17 Million that is far less than 50%. What to think of that?
Other things that strikes me:
Wang Renhui sold all his/her 600k+ shares to Qiao Pengju?
Ardsley held 1.2 Million shares if I read correct in the 10-K filing from 2008 and has sold everything? They aren't mentioned on page 69 of the 10-K on FY 2009.
One thing is good: ask steadily creeping up.
The other way around.
In the worst-case-scenario we will have 17 Million shares and then some in a few years.
My personal goal for selling my shares is $40, I think I've mentioned it before
When will I be able to sell?
Let's take last years 28.9 Million net profit as starting point for FY 2010. Let's assume a growth of 15% per year starting next year:
FY 2010 28.9 Million
FY 2011 33.2 Million
FY 2012 38.2 Million
FY 2013 43.9 Million
FY 2014 50.5 Millon
Earnings per share: 50.5 Million / 17 Million shares = $ 2.97
PE-ratio of 15 on Nasdaq, results in a shareprice of 2.97 x 15 = $ 44.55 There we are, we've reached my goal!
And that in a worst-case-scenario! Can you imagine what a postive scenario would look like?
(I know that this last statement is not completely true, there are always worst case scenarios: bankcruptcy etc, but I guess it is safe to assume that will not be the case.)
Confidence:
Pope has confidence in JGBO, they are still holding their maximum allowed number of shares. They got a lot of those shares for $8 I guess, and are not selling at this level. Looks like they are expecting more, just like we all are!
From page 69 of 10-K filing (PDF):
Pope Investments LLC(5)(6)
5100 Poplar Avenue, Suite 805
Memphis, Tennessee 38137
Number of shares 1,113,090
Percentage of oustanding 9.99 %
We've found the way up again I see.
Huge volume too (at least there are more shares traded than I own).
Clock is ticking:
money transferring out from the PRC
hello Nasdaq
new drugs
acquisition
new TCM's
...
...
Ericteg, thanks for your elaborate posting, great! It does seem that Elsa is on the safe side with everything she states, just as the company does with every PR of JGBO.
By the way, first quarter of FY 2010 is over already. Six weeks from new we'll have the numbers, let's see if they manage to work other things out before that.
Let me see where we will be this time around next year:
shareprice now $ 11
uplisting +$10
2 (out of 4) new drugs 2x +$2.50 = +$5
acquisition of a new drug or even a complete company +$2.50
a few new TCM's from Hongrui's line up +$2.50
That all ads up to: $31.00
Remarks on my calcultion are welcome, just trying to evaluate where we are and where we reasonably could be next year.
I will dig it up from my archives
If it helps: you are not alone. I have been buying shares since 2000. Some of them as low as $ 3.75 others as high as $16 (that was in 2007 just after the merger). I don't regret any buy at all. In the long run, 1-2 years, I am confident I will make a decent profit on every single transaction.
I have said before: fiscal year 2010 could change easily from transitional year to excellent year: we only need a few things to happen. Uplisting, new drugs, nice acquisition. Maybe luck is on our side this year...
Time will tell, just hold on.
As far as I understand the debentures it is like this: the conversion price for the debenture is $8, that's why $500,000 was paid in 62,500 share. It is a fixed price and as far as I understand the terms there is nothing renegotiable.
The warrants have a conversion price of $10. Pope isn't allowed to wown more than 9,99% of the outstanding shares.
A qoute form last filing:
In August, 2009, the Company entered into a Letter Agreement with Pope Investments LLC (“Pope”), pursuant to which the Company issued 82,500 shares of common stock to Pope in lieu of payment of the $660,000 in cash interest that was due and payable to Pope with respect to November 2007 Debentures and the May 2008 Notes held by Pope. In exchange, Pope agreed to waive certain events of defaults (as defined
in the November 2007 Debentures and May 2008 Notes) that had occurred as a result of the Company’s failure to timely make interest payments on the November 2007 Debentures and May 2008 Notes that were due and payable on May 30, 2009, and agreed not to provide written notice to the Company with respect to the occurrence of either of such events of default.
In September 2009, the Company issued 62,500 shares of its common stock in connection with the conversion of $500,000 of May 2008 Convertible Debentures.
Hmmmm, you could be right on the not so good numbers of coming Q1.
As for answers don't get your hopes up too high. In my experience Crocker is very fast indeed, but Elsa hasn't answered any of my past mails...
I think fundamentals are good, it is nice that they have hinted on doing something with their cash. That is our hope to see higher prices short term. Other factors that will help are uplisting, a new drug with the revised outlook that goes along with that. If nothing like that happens I think shareprice could even drop back below 11. But I am going to hold on because 2010 can change from not so good to a great year if all these positive promisses would come true.
Dark shadows are caused by the cash-transfer-problem and convertible debentures. I think they should communicate more clearly on that...
I keep in mind your last remarks, but then realise that since the merger took place Oct 2007 I've had a personal goal of $40. It has been 2 years and we're not even halfway yet, maybe we'll go faster the next 2 years. Then again from 40 to 100 is a big step, but absolutely not impossible. The first step should be uplisting, let's hurry to get that done and over with...
Time will tell. Thanks for sharing
I am going to read this every night before I go to bed, just as long untill we reach a more acceptable shareprice. Let's hope that what we read between the lines will all come true in FY 2010.
“Fiscal 2010 is expected to be a transitional year for Jiangbo as we (1) upgrade our TCM production facility, (2) prepare for the introduction of new drugs, and (3) pursue additional opportunities for both organic growth and potential strategic acquisitions. Our current outlook reflects only the drugs that we have in hand today and will be subject to update as we execute strategic initiatives to expand our market position and profitability in the future. We remain very confident regarding our future growth prospects and look forward to sharing further details with our shareholders as our expansion plans reach a definitive stage,” Cao stated.
Was hoping to find some interesting stuff, although there is a lot of info, I haven't found anything really new.
Browse for yourself:
http://jiangbopharma.com/pdf/
http://jiangbopharma.com/uploaded/
Valid until June 2010, so they'll have work to do in the coming months.
http://jiangbopharma.com/uploaded/200905080013173.jpg
Thanks Ericteg!
It is remarkable that Elsa again emphasised that predicted revenues are based on those drugs that are selling now and not on future drugs. That makes me think that they will surely reach higher revenue than predicted. That's good.
So we can almost certainly state:
- uplisting in calendar year 2009
- new drug (1 out of the 4 already known) in calender year 2009
- new acquisition and/or new drugs (besides the 4 we already know of) in fiscal year 2010
Yep, I`ve made up my mind, I`ll have to hold on to my shares for a little longer but it will be worth it...
Was there any mention of a future dividend?
How about the share buyback program, was there an update on that?
Money transferring out from china: any progress an this issue?
We remain very confident regarding our future growth prospects and look forward to sharing further details with our shareholders as our expansion plans reach a definitive stage," concluded Mr. Cao.
Behind the screens they are working on a lot of other things besides uplisting. Maybe fiscal year 2010 will be the year of positive surprises. 2008 and 2009 definitely will be surpassed I hope !
To be very honest with you guys:
In the long run things have only gotten better, they will make more profits next year with less revenue. So if they get revenues growing again (after 2010) because for example Hongrui will be attributing more, the profits will be even bigger!!
The huge amount of 100+ Million in cash is nice: what can we buy or what medicines can be developed with that kind of money ?!
Finally one of the four pending new drugs is almost SFDA approved!
Bigplay thanks so far for informing us!
Ericteg your summary afterwards will be appreciated very much!
We're getting beat up because 2010 is going to be a "transitional year"...
And still no word on uplisting in the Outlook they presented
maybe during the CC they will mention it, if not then what ...