Jiangbo Pharmaceuticals, Inc.(fka JGBO)

[carl_52fl]

Wow, What a crazy 10K for the old GTEC. Lots of questions were answered for me:

1) First of all, no-one should get alarmed at the loss they are showing. Most of this is stock-based compensation that occurred pre-merger, and has no bearing on the new company.

2) The true amount of shares outstanding are really 430M. The first 400M are from the merger(includes options not yet exercised) and the 30M bought by Pope investment.

3) A few lawsuits linger with the old management duking it out. Kenneth Clinton wants to keep the 3+ M shares of LTUS held in escrow for the 300K loan he gave. And this is after they gave him over 3M shares of GHII for additional compensation.

4) The bottom line, I'm not expectinng any dividend. I always contended this was icing on the cake and held to a 0.03-0.05 dividend. If they get those escrowed shares from K. Clinton, this would be another $3M in the kitty.

5) The company took the right route for the shareholders in that they merged with LJ Pharma. It seems the other mergers weren't going well for them.

The sooner the new Genesis Pharma gets rid of this old baggage, the better.