Sinobiopharma, Inc. (fka SNBP)

[pappy]

Nice to see the buying continue again today.

Buy volume swamped sell at the bid volume almost 3-1.

With 6=50k trades done at the ask or between the bid & ask.

I have seen no news to account for this increased volume other than the new company presentations available on snbp's website.

I was asked on Yahoo where I might sell shares since the pps is increasing.

Well I believe the present fundamentals support a pps around $0.40 or 8x 2011 eps.

However snbp is a long term position for me based on the CEO's experience & ability to deliver expected results.

So I plan to trade around a core position as long as the bottomline continues to outpace the increased share count by at least 20%.

Let's see how & when they bring more new drugs on line as there is no doubt that the pipeline is very promising.

As more new drugs make a dent in overall revenue I would consider raising my fair value p/e but until then I feel a forward p/e ratio around 8 considering this is a Chinese pharm. is about right.imo