Also Chinese SNBP .24 earned .03 vs a loss of .02 for '09 vs same 9mos period in '08 and deserves a much higher pps imho...here's an excerpt from their recent earnings report:
"Net income increased $3,874,632 from a net loss of $1,622,692 for the nine months ended February 28, 2009 to net income of $2,251,940 for the nine months ended February 28, 2010. The increase in net income was due to the increase in sales and decrease of the stock-based compensation expense.
Earning Per Share was $0.03 compared to $(0.02) for the same period 2009.
Financial Position
As of February 28, 2010, the Company had $790,142 in cash. Operating activities have generated $986,716 cash during the nine-month period that ended February 28, 2010. Working capital became positive in the period ended February 28, 2010 for the first time since the reverse take over in 2008. During this quarter, the Company raised $1,500,000 capital through a private placement. The Company has partially repaid the bank loan using funds from the placement, reducing an outstanding bank loan balance to $220,050. Net worth increased dramatically from $776,831 at May 31, 2009 to $8,998,121 at February 28, 2010. Total assets have increased by $5,458,792, from $5,956,443 at May 31, 2009 to $11,415,235 at February 28, 2010.
Business Outlook
Dr. Huang expressed the Company's satisfaction with its third quarter results. "The numbers show the growing strength of our financial performance and position," he said. "They also show the soundness of our strategy as we prepare to take the Company to the next level."
About Sinobiopharma
Sinobiopharma Inc. is a fully integrated and highly innovative specialty pharmaceutical company engaged in the research and development, manufacture and marketing of biopharmaceutical products in China, one of the world's fastest growing pharmaceutical markets. Known as Dong Ying (Jiangsu) Pharmaceutical Co. Ltd. in China, the Company's current therapeutic focus is on anesthesia-assisted agents and cardiovascular drugs."
I'm bullish on the company personally...suggest reading the entire report...tuna
Consider anything a fish says as borderline entertainment at best, and most likely another lousy stock pick he'll lose his tail on again. circa 2005 source unknown
AI
