Wednesday, August 17, 2016 10:41:56 PM
"Throughout the month of March, 2016, our wholly-owned Chinese subsidiary Globalink (Xuzhou) Biotechnologies Co. Ltd, sowed 30,000,000 gingko biloba seedlings in our 100-acre test plot plantation in Pizhou, China. Our first harvest of the gingko leaves will be in September/October, 2016. The leaves will be dried and sold to pharmaceutical manufacturers for extraction of crucial ingredients needed for the manufacturing of healthcare products. The expected yield from the first harvest would be 60 tons after the leaves have been dried. At the current market price, the in ground inventory is worth $3.36 million. The company plans to acquire additional plots of land to expand their production of gingko leaves in China."
The "additional plots of land" aren't detailed in the news release, but recent SEC filings paint the picture - over the next five years, Globalink expects to develop a gingko plantation that comprises approximately 1,553 acres, capable of producing up to 5,600 tons of dried gingko leaves per year. At current market prices, that's more than $300 million worth of gingko leaves, or roughly $17 million worth of revenue bookable by Globalink after paying their contracted farmers/suppliers their cut.
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