Biostar Pharmaceuticals, Inc. (BSPM)

[finesand]

Research Result of Last Days

(images on the bottom of post)

Chinese FDA for BSPM’s GMP and Company License

GMP License: SN20170253, Valid 2017-11-10 - 2022-11-09
Company License: Valid 2017-11-10 - 2020-12-31

Chinese Gov Website

Company has at least four licensed OTC products to sell.

Company PR'ed GMP renewal late in February, funny, isn't it?
They PR everything late, like now the 10-K. We got used to it.

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Chat with one pharmacy in Shaanxi Province about availability and pricing of BSPM’s Liver/Hepatitis Product.
Result: Newly produced are available to purchase with expiration data 2019.
Note that two other pharmacies around Shanghai and Beijing do not have BSPM’s products available yet.

Products on sale in Pharmacy in Shaanxi Province

Chat with said Pharmacy about pricing, expiration date and whether it is newly produced (PDF file)

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Notes from our debate:
- Demonstrating company is doing their job, no BK, licensed, producing and selling already.
- Chinese speakers doing their fair DD know this already
- Stock had an extra dip from $3'ish to $2 thanks to the late 10-K
- Refundable deposits $26M, OS 3M value at > $8/sh (see on board's Intro)
- Margins are >= 50%
- Company very often does file 10-K/Q late
- GMP license alone and producing again has proper value above $4/sh alone

Good luck & thanks for the late 10-K dip.

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GMP License: SN20170253, Valid 2017-11-10 - 2022-11-09


Company License: Valid 2017-11-10 - 2020-12-31