Tuesday, February 06, 2007 12:23:50 AM
Genex Pharmaceutical, Inc., formerly known as KS E-Media, Inc. (the Company), was incorporated in the State of Delaware on February 28, 2002. Prior to June 17, 2004, the Company was considered a development stage company. The Company was a start-up Internet based Fulfillment Company based in Vancouver, BC, Canada.
On June 8, 2004, the Company entered into a Share Purchase Agreement with Tianjin Zhongjin Biology Development Co., Ltd. (TZBD), a company formed under the laws of the People's Republic of China, and the shareholders of TZBD. Under the terms of the agreement, the Company acquired 100 percent of TZBD's shares in exchange for 3,658,375 restricted shares of the Company's common stock which were issued to the TZBD shareholders. On June 17, 2004, the stock purchase made pursuant to the Share Purchase Agreement was consummated. On June 27, 2004, the Company effectuated a three-for-one stock dividend of the Company's common stock. On June 29, 2004, the Company changed its name to the present name.
TZBD's Chairman of the Board of Directors, Mr. Fuzhi Song, has been appointed the Company's President, Chief Executive Officer and Chairman of the Board of Directors. Mr. Shuli Zhang has been appointed Chief Financial Officer and Treasurer. Ms. Sufen Ai has been appointed as the Company's Secretary. Mr. Mayur Pandya resigned as an officer and director of the Company effective June 18, 2004.
http://finance.yahoo.com/q?s=GENX.OB
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17.8 million shares outstanding
1.5 trailing Price/Earnings (.066 cents per share)
.76 trailing Price/Sales
http://www.genexpharm.com/download/FactSheet.pdf
Genex manufactures and sells a bovine-based bone grafting material to Chinese hospitals and is already profitable. However,
please note the possible significance of the following which is still very speculative, but potentially significant:
In August 2004 GENX signed a non-binding letter of intent to acquire Tianjin Zhongjin Pharmaceutical Company, which was the world's second largest manufacturer of Vitamin B1 in 2003-2004.
http://www.genexpharm.com/download/New20040819.pdf
If this acquisition were to occur it could have quite a positive impact on the stock if the acquisition terms are anywhere close to what were outlined in the LOI press release. Apparently,
during 2004 Zhongjin underwent a $20 million expansion in cooperation with BASF (the large German chemical company) that would make Zhongjin the world's largest manufacturer of Vitamin B1. Production in the new facilities was scheduled to begin in the first quarter of 2005. http://www.genexpharm.com/
Either way, GENX is another potentially lucrative "China Play" that investors with vision and patience (and a strong constitution) may find very interesting. Good luck to all! Do your own DD!!!!
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