Biostar Pharmaceuticals, Inc. (BSPM)

[finesand]

Shaanxi Aoxing Pharmaceutical Impact

Timeline

 
 - 2011-10-11 $17.43 Acquisition of Shaanxi Weinan Huaren Pharmaceuticals 
 - 2013-04-xx $4.34 New All Time Low 
 - 2015-08-xx $4.34 Going Lower  
 - 2015-09-30 $4.55 3Q2015 where Aoxin GMP Certification Issues Started, No Production 
 - 2015-11-23 $4.20 3Q2015 PR and SP sliding further 
 - 2016-05-xx $1.08 New All Time Low 
 - 2018-01-21 Week O $2.15 L $2.02 H $5.97 C $3.32  
 - 2018-01-29 Liao Huiping from Aixong promoted to BOD 
 - 2018-01-31 GMP Certification re-issued, Production kick-off in coming months - preparations ongoing (PR'ed 2018-02-07) 
 - 2018-02-11 Week O $5.00 L $3.76 H $5.02 C $3.86 
 - 2018-02-15 Chinese Spring Festival up until 2018-02-21 
 

Reverse Splits in 2012 and January 2016

Annual revenue decline in 2015 due to loss of Aoxing production


2018-02-07 PR of re-issued GMP certification states

Mr. Wang Ronghua, the Chairman of Biostar, stated: "The Company is pleased to have completed the GMP certification inspection and approval process. We expect that the GMP certification renewal will allow us to resume our production in the coming months as the Company makes preparations to carry on with the implementation of its business plan and growth objectives."

Hence we can assume that the facilities are all upgrades and production ready, while last steps are being prepared.
Therefor no huge cost burden shall be expected from here on.

Conclusion
Continuation of SP recovery, swinging upwards regaining a floor holding over $5.55.
Heading towards previous production revenue levels, chart suggest recovering even $7.04 - $12.85 long term Fibo levels.

The late dip since 2/15 was probably due to a simple TA cooling period, but also aligns with the Chinese Spring Festival. The latter ends today 2/21.

Fibonacci Chart uses 2 ranges:
- Long from 2014 16.44 -> 1.23
- Short from 3Q2015 5.55 -> 1.23

Weekly


Daily


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Disclaimer: This is not an investment advice. I am long, but may trade at any time.
Charts courtesy of 01, DD partner in crime (o8>