Major Update On RINO ........
Today I received a phone call from Charles Shin, Director of Investment Banking for Canaccord/Adams. We spoke for 35 minutes about RINO and various other companies that Canaccord/Adams has conducted extensive due diligence on.
With regards to RINO, all I can say is WOW !! Mr. Shin recently traveled to China with a team to pay a visit to RINO. He spent alot of time with the CEO and stated that this guy is a true visionary and one of the most impressive CEO's he's ever met. He stated that RINO is currently operating at 100% capacity.
The CEO presented future plans to Canaccord/Adams and is confident (are you ready for this ?) that RINO will eventually grow from a $335 million dollar company today (at $13.38) to a $15 BILLION dollar company (US Dollars).
Charles and I both agreed that most investors have the wrong perception of RINO's revenues from desulphurization systems and accessories, as they make up 75% of RINO's current revenues and alot of people think that these revenues will dry up after 2010. Mr. Shin and his team learned that this couldn't be farther from the truth, as RINO has mega repeat revenue sources surrounding desulphurization. Most importantly, RINO's sludge treatment equipment is set for commercialization in the next couple of months and revenues will be massive.
Mr. Shin has arranged for RINO's new CFO (Jenny Liu) to call me at 3:00pm E.S.T. this Friday to further discuss the comany's business, etc.
At $13.38, RINO currently trades on the Nasdaq with a P/E of 7.1 based upon 2009 full year EPS of $1.86
