CHFR - it's early for this one. Things to consider about China Fruit:
Taken from the latest quarterly report. If you are long here, just know that seekers will come soon. This is for them:
• April 1, 2006 – CHFR bought Jiangxi Taina Nanfeng Orange Co., Ltd
• In 2007, they bought their tangerine supplier who had approximately $1.2 million in assets.
• In 2008 – set up franchise retail stores and relocated headquarters to Beijing. The first retail store in Beijing opened in Nov. 2007. As of June 30, 2009 they have 9 retail stores. They had more stores but the economic downturn caused them to close some, leaving 9.
• June 2009 – sold alcoholic beverage component for $450,000 – payment made by August 31, 2009.
• “Tai Na International will be devoted to build up our brand name in China fruit market through setting up a series of franchise retail stores. We believe the franchise retail stores will facilitate the process from our plants to the markets, provide us with the platform to collaborate with other strategic partners and diversify our products. We expect sales to increase during the second half of 2009 as the recovery of current economy, and our moves toward implementing our business plan, including the increase in franchise retail stores, the increase in marketing budgets.”
• “We had cash of $104,418 on hand as of June 30, 2009. Currently, we have enough cash to fund our operations for about six months.” (I guess now since they have collected the $450,000 from sale of alcoholic beverage component, they have over $500,000 in cash.)
