Jade Art Group Inc (JADA)

[gpg]

What stood out to me was the quote from the CEO (especially part I underlined below):

Commenting on the Company’s financial results for 2009, Hua-Cai Song, Chief Executive Officer of the Company, said, “The inclement weather occurred in China during the year caused conditions unfavorable to mining and transporting Jade Art’s raw materials. Moreover, we feel that the global economic downturn has temporarily reduced the demand of luxury goods, which directly impacted the Company’s commercial and residential construction material markets and the high-end jade jewelry market. Although we have not yet seen a rebound in the luxury goods market, we are well positioned to take advantage of opportunities when economic conditions improve.”

In saying they haven't seen a rebound yet, it is difficult to determine what to expect for the first quarter. Perhaps we can expect a flat growth from 4rth quarter and another 5 cents - which would be fine for the pps I would think. However, the quote leaves some uncertain for how things went for first quarter as well as how thing are going halfway thru the second quarter. This at a time when China is experiencing a lot of growth. In addition, the CEO didn't take the opportunity to discuss the deposit placed for a potential acquisition. Again, I'm glad they issued the PR on one hand, but they could have done a lot more with it.