Skystar Bio-pharmaceutical Co. (fka SKBI)

[236T568]

How bad are things over at SKBI?

bad, real bad!

from SKBI's NT-10Q filed today with the SEC:



http://ih.advfn.com/p.php?pid=nmona&article=69342553&symbol=SKBI

(3) Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?
x Yes ¨ No

If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

Since 2014, the Registrant extended payment terms to its distributors that are responsible for collecting payments from the Registrant’s customers. As a result, the Registrant expects that its accounts receivable will increase by approximately $16 million and unrestricted cash will decrease by approximately $14 million as of September 30, 2015 as compared to the same period of the last fiscal year. Because of slowing market demand, the Registrant expects that its sales for the three months ended September 30, 2015 will decrease by $11 million as compared to the same period of the last fiscal year.



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So SBKI's unrestricted cash position was at $0 as of Sept 30, 2015 compared to the same quarter last year of $14 million


and


SBKI's revenues for the 2015 3rd quarter have now fallen an incredible 61% to $7 million from $18 million compared to the same quarter last year - a very very significant drop!