Biostar Pharmaceuticals, Inc. (BSPM)

[viking86]

Michael: nice update. You certainly have dotted the i's here.

99M to 100M rev for 2010 appears indeed to be a realistic target. Especially if Q2 rev comes in b/w 23M and 24M as I expect which means 74 to 82% up yoy. We"ll see.

But a P/E estimate of 15 for the year seems high to me, considering current trailing PE is about 6.4 and P/E reached a high of 10 when the price was $5. I would realistically expect something in the range of 10 to 11, max 12.


22.8 million net income/32 million shares = .7125 EPS
Just want to point out that 22.8M is your estimate for 2010 net income. It cannot be applied to 32M shares which is your worst case O/S estimate for 2011. To compare apples with apples, you need to apply the 32M shares to a 2011 estimate of net income to determine 2011 eps. Unless you think such a dilution is possible in the second half of 2010. But even then the FD will be weighted down for the year, so it will be much less than 32M.