Biostar Pharmaceuticals, Inc. (BSPM)

[GorillaGorilla]

I think your being a bit hard on them. This is a cheap company - they don't need to beat estimates they just need to keep showing significant growth - clearly they are doing that.

We would have all liked to have had them beat their estimates but they had to change course in the year. They would have started the year going for growth and ended it with having to conserve cash - which meant a change of sales policy and missing estimates. I have to say knowing this and that the balance sheet now has $16M in cash makes me a very happy investor.

I would have thought that Zushima was about the SFDA giving it the OK? If that's the case I can't blame BSPM. They are more in control of the raw material but it's a first year and sometimes things aren't as expected. I wanted to hear something about that in Q3 CC but can't remember anything. (Perhaps I missed something?)

They are talking of a TOP4 auditor - that is above the call of duty (I'm not sure the market will reward it when it changes? Dunno lets see). They are one of the few companies to suggest that they are expecting significant growth in 2011 (30 - 35%) but that was others putting words into their mouths rather than their considered position.

High quality earning company at P/E 4 wanting TOP4 auditor and expecting to show some growth in 2011. They have done a more credible performance than the stock market would seem, on the face of it, to have rewarded it.

rich