Good morning 'SSHatty'. So let's start with the most important news of he day. Novices Memphis Tigers won last night. Then like 'H' I've got the Badger / Gator matchup. Bad news, Buffet does not need to send me his billion dollar check. So sad, I was going to buy fcpg ---- lol.
My response to your questions put forth are not going to put your mind to rest anymore than other posts over the 18 months by a number of folks here. Without question or hesitation, the public relation performance of fcpg has been horrible at best. Grade it a F-. If you look at past releases, you will see the contact given as Evergreen and the telephone number is answered by a gentleman named Brad. I urge you to contact him and he answers the telephone, and if busy, will call you back. IMO, Brad has been straight forward providing what information he is able to (allowed to). In my conversations with Brad, he is just as eager to move forward as we are. But we know he is only given what can be stated publicly at this juncture, nothing more, nothing less. He is held captive by fcpg management. Give him a call he might be able to give further insight.
Fcpg made a strategic mistake with EFP and to rehash where blame is placed is not worth our time. The new auditor, Marcum, took an extended period of time to complete there dd of fcpg. If you look at their website, they have extensive experience within the prc with numerous offices and personnel. More importantly, the key for me is the understanding of taxation issues in the prc and how it can be disseminated and translated successfully to filings with the SEC. This past year the SEC and Chinese govt have been at odds as you know, and ?Marcum has navigated those waters. Marcum agreed to perform audits for fcpg because after exhaustive dd on their part they see fcpg as a growth company. The foundation for audits were laid by EFP, now Marcum will finish them with commentary that compliments the specific landscape fcpg operates in and satisfies the SEC. Though I would like to think we could see something by end of March, I personally think it will be mid April. Needless to say when these filings take place, the percentage of Internet sales vs other avenues will be better defined. It is a no brainer that if fcpg has not moved forward in creating a more substantial platform for Internet sales and record keeping there is a problem. I think we will see that sufficient progress has been in that arena which has allowed the company to extend its reach beyond current province. Fcpg has not lost a major contract as it would have to have been recorded as a material event. Fcpg must also be maintaining the contract with their supplier who had committed to giving fcpg favored tier pricing. The major supplier of fcpg helps differentiate itself from competition in the province. Without favored pricing, fcpg is or would have been done by now IMO. It's a fact fcpg is in business and making deliveries. My friends have worked in the prc, they work in the equity markets as previously disclosed, and verified this fact. Others on this board have said similar things but I cannot vouch for them. I can for my business contacts. Anyway, boots on the ground as you put it will take fcpg nowhere. The pharma market in the prc will only succeed with advanced systems via Internet as there are supply / demand problems. Drugs need to be dispensed more effectively now and that pace will only hasten. Again we will find out shortly what fcpg has done. Fcpg is generating revenue and we have all guessed at what the number will be for 2012 and 2013. My opinion we will be in the 65-70 million dollars in annual revenue. Without the filings there is no mystery that fcpg has been precluded in obtaining more favorable financing with existing debt or it's restructuring, and getting additional capital for expansion, etc. IMO fcpg has been working to resolve a number of these items concurrent to Marcums work. So let me summarize my position for what's its worth. Fcpg has been dismal in communicating with investor community and shareholders. Fcpg has failed to file on time yet pulled out an ace with marcum whom will shortly present fcpg as a growth company. Fcpg is and has been generating revenue. The future of fcpg will not be as a stand alone company. Fcpg cannot grow fast enough by itself, but it can grow by merger, acquisition and be simply purchased itself. How clean fcpg comes out of the filings and what financial outlets become available will dictate Wangs next move. Yourself, I, hell any poster here has been dubious, yet at some level understand fcpg is a revenue producing business and as such remained long to see the events unfold shortly. IMO, and only my opinion, wang has held the ship at shore and made improvements unknown to us. Numerous doors are going to open and as shareholders, our patience and loyalty will be rewarded. For many here, it begs the question ........ What is exit strategy and how much on percentage basis to stay long. Nice problem . Best to you, and the entire group here, David
AI
