China Shengda Packaging Group Inc fka CPGI

[emailcheque]

The stock was up 31.87% for the week ending October 19. The company has a cash position of $14.4 million and restricted cash of $18.5 million. Total short- and long-term loans are $12.5 million which makes the company's net cash position $20.4 million. The company has 38,790,811 shares outstanding which makes net cash of $0.53 per share. The company has a book value of $2.64 per share. The stock is trading at a P/E ratio of 6.67. I believe it is likely that the offer price will be raised to at least $2 per share