I try not to post on stock specific boards but I just can't help myself when it comes to this one and the numbers they have.
- As of April 14, 2016, there were 58,510,130 shares of common stock outstanding.
- Revenue for 2015 were $31,424,963 compared to $6,195,313 for 2014
(that's a 400% gain!)
- Cash $52,074,752
(or cash/shr of .90)
- Stockholders equity $64,516,018
(or a book value of $1.10/shr)
- Our operations provided $11,395,670 in cash during the year ended December 31, 2015, as compared to a use of $541,346 in cash from operations that we recorded in the prior period. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11318666
This is their profit for just the last 3 months of 2015!
The profit after income tax attributed to members of the consolidated entity for the period ended 31 December 2015 was $5,933,070.
Revenue for just the last 5 months of 2015 was $22M!! http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11225561
In April 2015, Wonhe High-Tech International, Inc. sold 20,130,000 shares of common stock to 21 unrelated individuals, 3 major shareholders of Shenzhen Wonhe at the time, and 3 unrelated companies in a private offering in the PRC. The purchase price for the shares was approximately RMB 4.72 (US $.77) per share, or a total of RMB 93,000,600 (US $15,196,298). Of the 20,130,000 shares sold, 4,600,000 (22.7%) were sold to the members of the Company's board of directors: Nanfang Tong (1,600,000 shares), Qing Tong (1,500,000 shares) and Jingwu Li (1,500,000 shares). On the date of sale, the Company’s common stock was quoted on the OTCQB at $3.07 per share. However, since over 75% of the shares in this offering were sold to unrelated parties at $0.77 per share, the Company believes that this price was more representative of the fair value of the stock than $3.07. In addition, no shares of the Company’s common stock were traded on the OTCQB from January 1, 2015 to April 22, 2015. As a result, management believes that the $0.77 per share was a fair price and recorded no compensation related to the share sold to the office/ director of the Company.
I know this is a China company but these number compared to the market value is just mind boggling to me. For goodness sake, they have .90/shr in cash! Wtf??
Their 1st Q numbers are only a few weeks away.
Pull up L2 and look how thin this thing is. Also, check out the chart. http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=whht&insttype=&freq=1&show=&time=8