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I just have to post my thoughts regarding potential share
price. Regardless of past prices/runups, the current O/S
of almost 1.3 billion, at one dollar/shr gives a valuation of 1.3 billion dollars. That price, to me is a stretch, I'd be delighted with .20-.50
I hope that's doable, before this gets picked up for less.
Opposing opinions will not be allowed.
:)
WiMax update CC from Intel(30 min +).
http://biz.yahoo.com/cc/9/101089.html
Press Release Source: Encore Energy Systems
Encore Energy Systems Completes Acquisition of BioConversions International and Schedules Additional Biofuel Acquisitions
Wednesday February 11, 2009, 11:37 am EST
Yahoo! Buzz Print OXFORD, MS--(MARKET WIRE)--Feb 11, 2009 -- Encore Energy Systems (Other OTC:ENCS.PK - News) announced today it completed its acquisition of BioConversions International. The transaction record date is 5 February 2009.
All record-date stockholders and all prior EGVI stockholders will receive, pro rata, $2,000,000 in Convertible Preferred Stock. The Preferred Stock may be converted into Common Stock annually. The Conversion feature will expire in 5 years.
This dividend is in addition to the previously declared cash dividend whereby all royalty income from the Company's patents will be distributed directly to stockholders. Shareholders will receive new Preferred Stock paying yearly dividends of cash or common stock upon redemption.
Investors should expect regular updates and press releases on the following:
-- New web sites, corporate image and published business plans
-- Details regarding geothermal royalty schedule, and the Preferred Stock
dividends
-- Published financial reports on the combined entities no later than 1
March 2009
-- Guidance on 2008 performance and Revenue and Debt elimination to be
released before financial reports
-- Financial projections regarding both revenues and asset growth through
the company's planned acquisitions
-- New LOIs and planned acquisitions of various biofuel production
facilities
-- Biofuel production and distribution agreements
About Encore Energy and BioConversions
ENCS is an international aggregator bio-diesel reactor technology, fuel distribution, production systems and fuel production facilities.
The Company also owns the patents for the use of grey-water, and domestic water in heat exchanger systems. They also provide all forms of conventional geothermal heat exchange systems. See our video at http://www.encoreenergyinc.com. The Company licenses its patented technology to other energy-related businesses.
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's web-site version of this press release contains various RISK FACTORS (and are incorporated herein by reference) and should be read before any investment decision.
Contact:
Contact:
Encore Energy Systems, Inc.
Investor Relations
Email Contact
888.234.0963
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How about two guys and two hammers?
:)
SteveP, according to an article in today's WSJ(p. B1), the total
landline user count for all of India is 40 million. Most
of the use, and the growth of 10-11 million/month is on
the wireless side.
Are you here to make money or is this a "morality play"
for you?
I get the feeling Telmex IS happenening(EOM).
Wow, the gloom and doom tag team is out in force today.(EOM).
Who decicides who has the "right" to invest in anything?
You?
LOL.
"dramatic sweeping gestures"???
not seeing those.
"convertible debt cowboy"??
very colorful language, BUT! this is DD?
haven't seen this stuff in the filings, have you.
all in your VERY humble (useless)opinion.
GLTAEB.
So,
your DD consists of staring at the share price?
Wow!
Why is it problematic??
I don't see a problem.
GLTAL.
1/7 to 1/10 in Vegas(EOM).
Form 8-K for ENERGROUP HOLDINGS CORP
--------------------------------------------------------------------------------
30-Dec-2008
Change in Directors or Principal Officers, Financial Statements and Exhib
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective December 29, 2008, Mr. Zhang Yizhao tendered his resignation as the Chief Financial Officer of Energroup Holdings Corporation (the "Company"). Ms. Wang Shu, whom was the Chief Financial Officer of the Company from December 31, 2007 until September 18, 2008, will resume the position of the Company's Chief Financial Officer effective on the same day as Mr. Zhang's resignation, unless and until earlier terminated, or she resigns and when her successor is duly elected and qualified.
Ms. Wang is a graduate of Liaoning University, with a major in accounting. Ms. Wang has more than 12 years of experience in finance. From 1996 to 2001, she worked at Dalian Huaqiao House Development Company as its chief accountant. In 2001, she joined Dalian Chuming Group Co., Ltd., and served as the Company's Chief Financial Officer from December 31, 2007 until September 18, 2008. Ms. Wang is also a member of the Company's Board of Directors.
The terms of Wang Shu's employment as Chief Financial Officer of the Company is set forth in an employment agreement dated December 31, 2007. A copy of Ms. Wang's employment agreement was previously filed with our Current Report on Form 8-K on January 7, 2008.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
10. 3 Executive Employment Agreement dated December 2007 between Company and Ms.
Wang Shu (1)
--------------------------------------------------------------------------------
(1) Previously filed with our Current Report on Form 8-K on January 7, 2008 and incorporated herein by reference.
--------------------------------------------------------------------------------
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right, they closed 12/31/07...
and we heard about it when?
http://biz.yahoo.com/iw/080108/0346044.html
He do have a way with words, eh?
GLTAEB.
Or maybe
bass ackwards....
he has his own agenda and he's sticking to it.
GLTAEB.
:)
IRIS, I'm surprised, after the way you've been badmouthing
ONEV, you're buying?
Plus, if I thought I was dealing with liars, I'd be
long gone.
GLTAEB.
You asked veno, but....
it seems to me that some buying is there early, but stops before the SP moves up much.
Then somebody comes in with a mil or so at .001 to knock it back.
2 MMs passing a block back and forth to hold the .001 level?
IMO.
Omehay, well said, right on, but these naysayers will never give up. They obviously have a stake in seeing ONEV fail,
or at least keeping the SP low.
GLTAEB.
"The facts about OTC stocks that sink below a tenth cent a share in value at any time are solid and irrefutable. None of those companies have ever recovered. Ever. ONEV may be an incredibly remote exception. I'd put the odds at around 500,000/1. About the same odds as the Telmex "deal" ever producing revenue significant enough to draw an 8K or be called "material"."
You didn't state the above "facts" as your opinion. Did you get them from SEC FILINGS?
"do your research on this company from THE SEC FILINGS ONLY."
Telling people how to do research?
My,my.
Do not base any NON-investment (or sale of ONEV stock) on anything you read here.
IMO.
Looks good to me(EOM).
Form 10-Q for ENERGROUP HOLDINGS CORP
--------------------------------------------------------------------------------
19-Nov-2008
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
Note Regarding Forward-Looking Statements
This quarterly report on Form 10-Q and other reports filed by Registrant from time to time with the Securities and Exchange Commission (collectively the "Filings") contain or may contain forward-looking statements and information that are based upon beliefs of, and information currently available to, Registrant's management as well as estimates and assumptions made by Registrant's management. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. When used in the filings, the words "anticipate", "believe", "estimate", "expect", "future", "intend", "plan", or the negative of these terms and similar expressions as they relate to Registrant or Registrant's management identify forward-looking statements. Such statements reflect the current view of Registrant with respect to future events and are subject to risks, uncertainties, assumptions, and other factors (including the risks contained in the section of this report entitled "Risk Factors") relating to Registrant's industry, Registrant's operations and results of operations, and any businesses that Registrant may acquire. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned.
Although Registrant believes that the expectations reflected in the forward-looking statements are reasonable, Registrant cannot guarantee future results, levels of activity, performance, or achievements. Except as required by applicable law, including the securities laws of the United States, the Registrant does not intend to update any of the forward-looking statements to conform these statements to actual results. Readers are urged to carefully review and consider the various disclosures made throughout the entirety of this quarterly report, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operations, and prospects.
In this Form 10-Q, references to "we", "our", "us", "our company", "Energroup" or the "Registrant" refer to Energroup Holdings Corporation, a Nevada corporation.
OVERVIEW
Headquartered in the City of Dalian, Liaoning Province of the People's Republic of China (the "PRC" or "China"), we are a meat processing company primarily involved in the slaughtering, processing, packaging and distribution of pork and pork products. We also process and sell seafood, such as minced fillet products, which accounted for a small portion of our revenue (approximately 1.35%) in the third quarter of 2008.
We are the first pork producer in China to receive "Green Food" certification from China's Ministry of Agriculture. Green Food is an innovative certification program unique to China that is awarded to food processors who produce using environmentally sustainable methods and meet certain high technical standards of quality control, safety, and product quality, and generate low levels of pollution. The Green Food certification is based on standards defined by the Codex Alimentarius Commission ("CAC"), a joint body of the United Nations Food and Agriculture Organization and the World Health Organization. We also received ISO 9001:2000 certification that covers our production, research and development and sales activities.
Currently we have a wholesale and retail distribution network and sell either directly or indirectly across northeast China, including supermarkets and hypermarkets.
As of September 30, 2008, we had 595 employees, of whom 423 were operating personnel, 106 were sales personnel, 4 were research and development personnel and 62 were administrative personnel.
Dalian Precious Sheen Investments Consulting Co., Ltd., or Chuming WFOE, is our holding company established in China for our three PRC operating subsidiaries, collectively referred to elsewhere in this report as the "Chuming Operating Subsidiaries":
1. Dalian Chuming Slaughter and Packaging Pork Company Ltd. ( "Meat Company"), whose primary business activity is acquiring, slaughtering and packaging of pork and cattle;
--------------------------------------------------------------------------------
2. Dalian Chuming Processed Foods Company Ltd. ( "Food Company"), whose primary business activity is the processing of raw and cooked meat products; and
3. Dalian Chuming Sales Company Ltd. ("Sales Company"), which is responsible for our sales, marketing and distribution operations.
The Chuming Operating Subsidiaries are spin-off constituents of a former parent company, Dalian Chuming Group Co., Ltd., or the "Group." Our primary business activities are the production and packing of fresh pork and production of processed meat products for distribution and sale to clients throughout the PRC. Chuming WFOE was incorporated in China as wholly foreign owned enterprise on in December 2007. Chuming WFOE's parent company is Precious Sheen Investments Limited ("PSI"), a holding company established in the British Virgin Islands in May 2007.
Pork is widely regarded as China's most important source of meat and is consumed at a much higher rate than other categories of meat. China, which is the largest pork-consuming nation in the world, consumed a total of 52 million metric tons in 2006, over half of the global consumption. Despite a decline in 2007 due to the blue ear disease, or Porcine Reproductive and Respiratory Syndrome (PRRS), China's pork production is expected to recover to 48 million metric tons in 2008, according to a forecast from the United States Department of Agriculture Foreign Agriculture Service (USDA FAS) in Beijing. We believe that increasing levels of consumption of pork products in China is linked to the rapid development of the Chinese economy, urbanization and strong income growth.
Aside from increasing aggregate consumption, based on management's research pork consumption patterns in recent years have shown two main characteristics. The first is that per capita pork is consumed at higher rates in the urban areas of China as opposed to rural areas, although the rate of growth in these urban consumption rates is relatively slight. The second is that consumers' consumption preferences appear to have shifted from frozen meat to fresh meat, and from fat meat to lean meat, with a tendency toward high quality cuts. Management believes these trends continue to be very favorable to our business which is based on mechanized meat processing and sales to urban consumers.
During the third quarter, Beijing hosted the 29th Olympic Games. China's state-owned electrical power grid had to cut the power supply to some provinces to ensure sufficient electricity supply to Beijing during the games. This resulted in occasional interruptions in production in our factories, due to intermittent power failures. Nevertheless, we managed to increase our production of various pork products. We increased total production to a company record high 23,490 tons in the third quarter of 2008, as we produced 19,044 tons in the second quarter of 2008, and 16,892 tons for the third quarter of 2007. Fresh pork sales and production have been growing at a faster rate than frozen pork in terms of our revenue and production volume during the past several quarters.
Due to a shortage in supply, live hog prices rose significantly in 2007. Retail pork prices are an important component of China's Consumer Price Index (CPI), a key inflation indicator. In order to moderate increases in the CPI and maintain the living standard of its lower-income population, the Chinese government (as it pertains to the pork industry) has implemented a number of policies to encourage pork production. These policies are now beginning to take effect, and as a result, the price of pork to consumers has stabilized during the past several months. In the near future, we expect pork prices to continue to stabilize, or even begin to decline.
In China, the pork processing industry remains fragmented, and we believe, inefficient. As smaller players experience pressure from margin compression and stricter government regulations, we believe scaled pork processors, like ourselves, will be positioned to make acquisitions on favorable terms in order to capture market share, gain scale, secure raw material, and access more customers. We expect that the combined factors of stricter hygiene regulations, increasing competition from well-financed players, and struggling meat suppliers, will induce industry consolidation in the coming years. We believe we are in a strong position to continue to take advantage of the Chinese government's support for leading pork producers, these market consolidation trends, and the emerging hog supply situation. Management believes that this is a long-term trend.
Given the current competitive market conditions, we constantly strive to impose strict quality control in our products and utilize state-of-art slaughtering and cutting lines (which are imported from Stork Co. of the Netherlands), to ensure our product quality, increase awareness of our brand and develop customer loyalty. Our research suggests that consumers in China are increasingly conscious of food safety and nutrition, and they using their purchasing power to demand safer and higher quality food products for their families. For example, the recent tainted milk crisis in China prompted consumers to abandon milk and dairy products, and this has had a devastating impact on milk producers.
--------------------------------------------------------------------------------
We place a very high priority on food safety and integrity. For the feeds which are used for our hogs, we control and monitor our feed sources by acquiring feeds only from qualified suppliers who are licensed in the nation or the province, and then carry out comprehensive tests to ensure quality. All of our production lines have also passed the Hazard Analysis and Critical Control Point (HACCP) test, which is certified by Moody International Certification Ltd. Management anticipates that companies such as ours, with quality meat processing and modern logistics systems, will benefit as they capture market share and build consumer brand loyalty.
Management believes that we need to broaden our geographic sales network and diversify our customer base. Currently our distribution network is still limited to Liaoning province, especially Dalian city. In the near future we need to further extend this network and penetrate to all the northeast provinces of China. A broader customer base can not only mitigate our reliance on certain big customers, but also bring us more opportunities. We believe a broader market for our products can increase demand for our products, reduce our vulnerability to market changes, and provide additional areas of growth in the future.
Our top ten customers accounted for 62.54% for our total sales for the quarter ended September 30, 2008. We plan to position our business to diversify our customer base, which is expected to lower this percentage gradually in the future.
Management presently anticipates continued growth in our sales growth. Nevertheless, our ability to meet increased customer demand and maintain profitability will however continue to depend on factors such as our production capacity, availability of working capital, input costs, as well as the other factors described throughout this report.
CRITICAL ACCOUNTING POLICIES AND ESTIMATES
Our management's discussion and analysis of our financial condition and results of operations are based on our combined financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of these financial statements requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported net sales and expenses during the reporting periods. On an ongoing basis, we evaluate our estimates and assumptions. We base our estimates on historical experience and on various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
While our significant accounting policies are more fully described in Note 2 to our combined financial statements included in this report, we believe that the following accounting policies are the most critical to aid you in fully understanding and evaluating this management discussion and analysis:
Method of Accounting
We maintain our general ledger and journals with the accrual method accounting for financial reporting purposes. The financial statements and notes are representations of management. Accounting policies adopted by us conform to generally accepted accounting principles in the United States of America and have been consistently applied in the presentation of financial statements, which are compiled on the accrual basis of accounting.
Principles of Consolidation
The consolidated financial statements, which include the Company and its subsidiaries, are compiled in accordance with generally accepted accounting principles in the United States of America. All significant inter-company accounts and transactions have been eliminated. The consolidated financial statements include 100% of assets, liabilities, and net income or loss of those wholly-owned subsidiaries.
--------------------------------------------------------------------------------
Our founders have directly or indirectly owned the three operating subsidiaries since their inception. We also own two intermediary holding companies. As of September 30, 2008, the detailed identities of the consolidating subsidiaries are as follows:
Attributable
Place of Equity
Name of Company Incorporation Interest Registered Capital
Precious Sheen Investments Limited BVI 100 % USD 10,000
Dalian Chuming Precious Sheen
Investment Consulting Co., Ltd. PRC 100 % RMB 29,400,682
Dalian Chuming Slaughtering & Pork
Packaging Co. Ltd. PRC 100 % RMB 10,000,000
Dalian Chuming Processed Foods Co.
Ltd. PRC 100 % RMB 5,000,000
Dalian Chuming Sales Co. Ltd. PRC 100 % RMB 5,000,000
The consolidation of these operating subsidiaries into a newly formed holding company i.e. "the Company" is permitted by United States GAAP: ARB51 paragraph 22 and 23.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from these estimates.
Accounts Receivable
We extend unsecured, non-interest bearing credit to our customers; accordingly, we carry an allowance for doubtful accounts, which is an estimate, made by management. Management makes its estimate based on prior experience rates and assessment of specific outstanding customer balances. In the second quarter of 2008, we revised our customer credit policy and began offering extended payment terms to some of our quality long term customers. In accordance with this revised policy, qualified customers were offered up to a two-month grace period for payment, whereas previously payment was required within 1-2 days of delivery of goods. See "Liquidity and Capital Resources - Cash Flows - Nine Months Ended September 30, 2008". Management may extend credit to new customers who have met the criteria of our revised credit policy.
Inventory Carrying Value
Inventory, consisting of raw materials in the form of livestock, work in progress, and finished products, is stated at the lower of cost or market value. Finished products are comprised of direct materials, direct labor and an appropriate proportion of overhead. Periodic evaluation is made by management to identify if inventory needs to be written down because of damage, or spoilage. Cost is computed using the weighted average method.
Property, Plant, and Equipment
Property, Plant, and Equipment are stated at cost. Repairs and maintenance to these assets are charged to expense as incurred; major improvements enhancing the function and/or useful life are capitalized. When items are sold or retired, the related cost and accumulated depreciation are removed from the accounts and any gains or losses arising from such transactions are recognized.
--------------------------------------------------------------------------------
Construction in progress represents the direct costs of design, acquisition, and construction of buildings, building improvements and land improvements. Capitalization of these costs ceases when substantially all activities necessary to prepare the assets for their intended use are completed. At such point, construction in progress is transferred to its respective asset classification. No depreciation is provided until it is completed and ready for intended use.
Property and equipment are depreciated using the straight-line method over their estimated useful life with a 5% salvage value. Their useful lives are as follows:
Fixed Asset Classification Useful Life
Land Improvements 10 years
Buildings 20 years
Building Improvements 10 years
Manufacturing Machinery & Equipment 10 years
Office Equipment 5 years
Furniture & Fixtures 5 years
Vehicles 5 years
Land Use Rights
Land Use Rights are stated at cost less accumulated amortization. Amortization is provided over its useful life, using the straight-line method. The useful life of the land use right is 50 years.
Customer Deposits
Customer Deposits represents money we have received in advance for purchases of pork and pork products. We consider customer deposits as a liability until products have been shipped and revenue is earned.
Statutory Reserve
Statutory reserve refers to the amount appropriated from the net income in accordance with laws or regulations, which can be used to recover losses and increase capital, as approved, and, are to be used to expand production or operations. PRC laws prescribe that an enterprise operating at a profit, must appropriate, on an annual basis, from its earnings, an amount to the statutory reserve to be used for future company development. Such an appropriation is made until the reserve reaches a maximum equalling 50% of the enterprise's capital.
Earnings Per Share
We compute earnings per share ("EPS") in accordance with Statement of Financial Accounting Standards No. 128, "Earnings per share" ("SFAS No. 128"), and SEC Staff Accounting Bulletin No. 98 ("SAB 98"). SFAS No. 128 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as the income or loss available to common shareholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., contingent shares, convertible securities, options, and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.
Recent Accounting Pronouncements
In March 2008, the FASB issued SFAS No. 161, "Disclosures about Derivative Instruments and Hedging Activities, an amendment of FASB Statement No. 133" ("SFAS 161"). SFAS 161 applies to all derivative instruments and related hedged items accounted for under SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities" ("SFAS 133"). SFAS 161 requires entities to provide greater transparency about (a) how and why an entity uses derivative instruments, (b) how derivative instruments and related hedged items are accounted for under SFAS 133 and its related interpretations, and (c) how derivative instruments and related hedged items affect an entity's financial position, results of operations and cash flows. SFAS 161 is effective for financial statements issued for fiscal years and interim periods beginning after November 15, 2008.
--------------------------------------------------------------------------------
In May 2008, the FASB issued SFAS No. 162, "The Hierarchy of Generally Accepted Accounting Principles" ("SFAS 162"). SFAS 162 identifies the sources of accounting principles and the framework for selecting the principles used in the preparation of financial statements of nongovernmental entities that are presented in conformity with generally accepted accounting principles (the GAAP hierarchy). Statement 162 will become effective 60 days following the SEC's approval of the Public Company Accounting Oversight Board amendments to AU Section 411, "The Meaning of Present Fairly in Conformity With Generally Accepted Accounting Principles."
In May 2008, the FASB issued FSP Accounting Principles Board ("APB") 14-1 "Accounting for Convertible Debt Instruments That May Be Settled in Cash upon Conversion (Including Partial Cash Settlement)" ("FSP APB 14-1"). FSP APB 14-1 requires the issuer of certain convertible debt instruments that may be settled in cash (or other assets) on conversion to separately account for the liability
(debt) and equity (conversion option) components of the instrument in a manner that reflects the issuer's non-convertible debt borrowing rate. FSP APB 14-1 is effective for fiscal years beginning after December 15, 2008 on a retroactive basis.
We are currently evaluating the potential impact, if any, of the adoption of the above recent accounting pronouncements on our consolidated results of operations and financial condition.
RESULTS OF OPERATIONS
Comparison of Three Months Ended September 30, 2008 and September 30, 2007.
The following table sets forth the results of our operations for the periods
indicated as a percentage of net sales:
Quarter Ended Quarter Ended
September 30, % of September 30, % of
2008 Sales 2007 Sales
Sales $ 53,725,596 100.00 % $ 35,160,526 100.00 %
Cost of Sales 47,254,631 87.96 % 29,430,153 83.70 %
Gross Profit 6,470,965 12.04 % 5,730,373 16.30 %
Selling Expenses 878,893 1.64 % 1,597,626 4.54 %
General & Administrative Expenses
734,976 1.37 % 459,975 1.31 %
Total Operating Expense 1,613,869 3.01 % 2,057,601 5.85 %
Operating Income / (Loss) 4,857,096 9.04 % 3,672,772 10.45 %
Other Income (Expense) (320,037 ) 0.60 % (418,298 ) 1.19 %
Earnings Before Tax 4,537,058 8.44 % 3,254,474 9.26 %
(Income Tax Expense) / Deferred
Tax Benefit 216,770 0.40 % 749,504 2.13 %
Net Income $ 4,320,288 8.04 % $ 2,504,970 7.12 %
Earnings Per Share
Basic 0.25 0.19
Diluted 0.20 0.15
Weighted Average Shares
Outstanding
Basic 17,272,756 13,409,120
Diluted 21,182,756 17,272,756
--------------------------------------------------------------------------------
Sales. Our sales include revenues from sales of our fresh pork, frozen pork, and processed food products. During the quarter ended September 30, 2008, we had sales of $53,725,596 as compared to sales of $35,160,526 for the quarter ended September 30, 2007, an increase of approximately 52.8%. Our sales for our various product categories in the third quarter of 2008 are summarized as follows:
Third Quarter % of Third Quarter % of % of increase
2008 (amount Total 2007 (amount Total from
Sales by product category in dollars) Sales in dollars) Sales 2007 to 2008
Fresh Pork $ 42,858,853 79.8 % $ 27,499,174 78.2 % 55.9 %
Frozen Pork 4,618,716 8.6 % 2,668,116 7.6 % 73.1 %
Processed Food Products 6,248,027 11.6 % 4,993,236 14.2 % 25.1 %
Total Sales $ 53,725,596 100 % $ 35,160,526 100 % 52.80 %
Third Quarter % of Third Quarter % of % of change
Sales by product category, by weight 2008 Total 2007 Total from
of product (Weight in tons) Sales (Weight in tons) Sales 2007 to 2008
Fresh Pork 18,681 79.5 % 12,922 76.5 % 44.6 %
Frozen Pork 2,190 9.3 % 1,353 8.0 % 61.9 %
Processed Food Products 2,619 11.2 % 2,617 15.5 % 0 %
Total Sales 23,490 100.00 % $ 16,892 100.00 % 39.1 %
In the third quarter of 2008, we raised our average per-kilogram sale prices to our customers, as we did during 2007, which coincided with an increase in the cost of live pigs and other production costs. In addition, despite these consumer price increases, in the third quarter of 2008 our sales volume of fresh pork and frozen pork (by weight) increased by 44.6% and 61.9% respectively. We significantly increased our sales of fresh pork and frozen pork, both by weight . . .
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K9, methinks that having done this, they've cleared all the bad stuff out of the way. Your thinking is on the right track.
They spent alot of time and money to do this, they wouldn't
if they didn't have good stuff coming, IMO.
GLTA.
didn't it also say, "no material effect"?
GLTA.
Press Release Source: S3 Investment Company
S3 Investment Company Files S-1 Registration Statement With Two-Year Audited Financial Statements
<p>Company Plans to Issue Revenue Forecast and Additional Details on Conditions in the China Market
Tuesday November 18, 2008, 12:43 pm EST
Yahoo! Buzz Print DANVILLE, CA--(MARKET WIRE)--Nov 18, 2008 -- S3 Investment Company, Inc. (Other OTC:SIVC.PK - News) and its wholly owned Redwood Capital subsidiary today announced the filing of a Registration Statement on Form S-1 with the Securities and Exchange Commission. The filing is part of the company's efforts to become fully reporting and file for a listing on the Over-the-Counter Bulletin Board market.
The S-1 Registration Statement includes annual reports with audited financials for the 2007 and 2008 fiscal years. After the Form S-1 Registration Statement becomes effective, the company expects to file its periodic quarterly and year-end financial statements in the required timeframes to maintain fully reporting status.
"The filing of the S-1 is an extremely important step in the company's efforts to significantly upgrade its status in the public markets and so that its true value can begin to be reflected in the trading price of its common stock," stated Chairman and Chief Executive Officer Jim Bickel. "Considerable time and effort has already been expended to bring the company this far, including the hiring of a Controller to manage the process of bringing our financials up to date and compiling the information for the S-1. Our Controller has done a fantastic job to facilitate the completion of this filing and will continue to work with our legal and auditing team to ensure that the S-1 becomes effective as soon as possible."
"The reason for all of this effort and commitment of resources is to provide our shareholders increased transparency into the operations of S3 and its Redwood Capital subsidiary. Redwood Capital has approximately 10 projects in process or under review, of which it expects to close between 3 and 5 over the next twelve months. At an estimated $2 million profit per project, closing these projects is estimated to bring the company into profitability in the coming fiscal year. Despite the turmoil in the U.S. market, Redwood Capital's business outlook remains strong."
Redwood Capital is a specialist in providing private and public capital for Chinese companies through the simultaneous listing on a North American stock market and PIPE (Private Investment in Public Equity) financing. Its services are designed to prepare, assist and manage client companies through the various stages of the process of an initial public offering or a reverse merger into a publicly traded shell, concurrent capital funding, a progression to a major North American market listing, and multiple Registered Follow-On Offerings for additional growth capital.
"In this very trying time in the global financial markets, China is the fastest growing economy in the world. Despite the current global economic conditions, the impact to China has been relatively minimal. In addition to providing financial forecasting for the company in the near future, we also anticipate providing detailed information as to why China is an ideal market in which Redwood Capital will focus its efforts," Mr. Bickel added.
A link to the company's SEC filings can be found in the Investor Relations section of the S3 corporate website, http://www.s3investments.com/.
To sign up to receive information by email directly from S3 Investment Company when new press releases, investor newsletters, SEC filings or other information is disclosed, please visit http://www.s3investments.com/investors/.
About S3 Investment Company
S3 Investment Company, Inc. (http://www.s3investments.com) and its wholly owned Redwood Capital subsidiary are focused on assisting private Chinese companies in accessing the North American capital markets by utilizing a network of investment banking relationships to achieve reverse merger transactions. For more information, please visit http://www.redwoodcapinc.com.
Any statements contained herein related to future events are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on forward-looking statements. S3 Investment Company, Inc. undertakes no obligation to update any such statements to reflect actual events.
Contact:
Contact:
For S3 Investment Company
Gemini Financial Communications, Inc.
A. Beyer
(951) 677-8073
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I know you didn't address me BUT.............
ONEV had to work with these little guys, probably at hugely
discounted prices, to prove that their tech worked in a production environment. The fact that these small, rural
companies did not renew is not, IMO, a knock on ONEV. They just did not have a huge market to support ongoing usage at
"full price".
Above is just my take, speculation if you will, but I remember JJ saying "You have to walk before you can run".
Moving on to bigger and better things.
GLTAEB.
Thanks for sharing, goalie(EOM).
Possibly they're in a quiet period?
GLTA.
we need patience, else we become patients.
GLTA.
WHERE and WHEN did Dean say anything about these contracts leading to INSTANT break even?
TIA
KK,
I doubt that any response will get you to stop your
endless whining, but I want to mention that, as I'm sure you're aware, that getting a big deal with a Telmex or
MTNL does NOT mean ONEV will instantly be at breakeven.
GLTA.
Steve,
since you don't trust anyone on the boards, and you don't trust the company, WHY are here?
Methinks you have an agenda( you and bulls,SBB and others)
ENHD shows 2 shares traded at 259.25, an increase of
103,700% !
LOL, GLTA.
Desertson, keep in mind that "most companies" are not
trying to meet SEC requirements for proper filings with
information from China, where I'm sure that "normal"
filing requirements and even record keeping are quite different.
GLTA.
snowdog, I've been wondering the same, and it seems to me
that the big money being pulled out of the
markets is because America will be a slow or
no growth economy for a while. Other countries will have similar problems. So where will the money go?
China is not booming they way it was, but could still be
growing nicely compared to other economies.
Me thinks S3 could get a nice (further) boost.
We shall see.
GLTA.
PS Besides the slowing due to the economic turmoil, other
factors affecting the markets seem to be things like:
The Bush tax cuts are about to expire.
Markets MAY already be discounting an Obama presidency,
where a totally Democrat administration and Congress will
try to get the big money to pay for all the social programs they'd like to begin or expand.
IMO, it's a little early to talk about recovery. If the
markets could just stop the downdraft and begin to
stabilize........
GLTA.
It might help if we stop splitting hairs. Sounds to me like
JB is just back from China, prolly got much to do. If the filings are ready, it may still take a little longer to
wrap everything up. After they file, it's still what, 90 days to uplist? 2 closings in Q4, YUM!
I'm among the faithful, based on the DD,
much thanks to RAIN et al.
For those who may have missed it, Warren Buffet filed notice
of the purchase of 10% of a CHINESE battery making Co. We're
following(maybe leading) the smart money.
GLTA.