Future doc, what is your source for this statement? "They have a few foreign factories that can be added onto in order to meet a large demand."
If you are thinking Jade, let me tell you more about Jade.
The Chinese drug and testing industry is highly regulated, maybe even more than the USA. Their agency is the SFDA. They don't mess around over there. In 2007, the executed the head of the SFDA for alledged corruption.
In 2004, AMDL, the previous name for the company, began extensive trials for DR70 (Onko Sure). In 2006, the applied for medical device approval from the SFDA. Also not long after, they negotialted a deal to purchase Jade in exchange for shares in RPC. There was no cash involved because the company has never had any significant amount of cash and the owners of Jade anticipated the revenue from sales of Onko Sure in China would make them millions.
Relations were fine with Jade until 2009. In early 2009, the SFDA REJECTED Onko Sure for approval. BOOM. Jade management exploded. Now they had sold the company for worthless stock who had no product to sell in China.
Question: Why would the SFDA reject a test that was FDA cleared in the USA?
In the same CC where RPC management agreed that Onko Sure had 10 false positives for every accurate results, they also gave a timeline required for any additonal attempt to obtain approval in China. It was years and no additonal attempts have been made.
I have never shorted nor intend to have any financial interest in this stock. I am not connected with anyone who trades, shorts or has financial interests in this stock. I only post facts and my opinions. I do not post on IHUB with different aliases.
