Jiangbo Pharmaceuticals, Inc.(fka JGBO)

[996]

You are right on the specific targets, there where a few in regard to 2008 and 2009 revenues and eps. These targets where met, so no problem there.
You say CEO is in control, but will he stay in control, if he is losing majority of shares: Pope can't own more than 9.99% so all extra will have to be sold to other investors. CEO now owns about 4.8 Million, that is less than 50% already. Look here. If a company/investor was able to buy all the shares on the market it could get the majority (theoretically).

Maybe Pope has already started selling. The MM's are doing a fine job to keep pps on a nice level for Pope: buying at $8 and selling at $10.50, that is a nice profit. (I consider the close on $10.01 of yesterday a mistake)
So you see I share your scary thoughts for some part.

Why can't JGBO begin using their money earlier than Q3 and Q4 ?

Short term bank loans are approximately 2 Million, that is not so much in regard to their cash.