Energroup Holdings Corp (ENHD)

[v80alue]

ENHD has 800,000 hogs commitment from the group for 2009,2010,2011. They record minimum commitment from the group for remainder of the year. By calculating the difference, one can get the actual hogs they got from the group each Q. With numbers from 10Q, I calculated actual hogs ENHD got from the group per quarter in past 2 years,

Q reporting, Hogs from group
2009 Q1, 141,852
2009 Q2, 135,354
2009 Q3, 397,970
2009 Q4, 124,824
2010 Q1, 133,265
2010 Q2, 158,693
2010 Q3, 123,531
2010 Q4, 260,980 (estimate)

From Above, one can easily see the anomoly for 2009 Q3 and slightly lower number of 2010 Q3. This shapes up well for a good Q4.

From 2009'10k, Their total hogs purchased are 1.2 million, 2/3 is from the group, 1/3 is from the farmer. So the portion from the group is significant.