Replies to post #12510 on First China Pharmaceutical Group Inc (fka FCPG)

[pack10]

Good post Novice. All of us long time posters on this board know that Wang's goals involve two years of completed financials.

I admit earlier this year I felt First China should have been able to get the financials out for everyone to see. I was wrong in that thought process. I contracted a well known partner in an accounting firm and he told me it would not at all be unusual for a complete audit to take 12 to 15 months. I suspect we will be getting the 10k and q's buy the end of Nov. A guess, but it fits in this time frame of 12 to 15 months.

[TTjack]

Talk about sticking your foot in your mouth! My whole rant post was based on my misunderstanding that CEO Wang was receiving a 2% of revenue bonus without qualification. After re-reading the paragraph regarding bonuses I realized that I had not studied it as carefully as I should have. There is a $1,500,000 cap on the bonuses and they are to be paid after 10-K and 10-Q filings. Thanks for pointing that out novicetrader1.
BTW I think I have found the new XYT distribution facility. If you copy these coordinates 25.0970527778, 102.665425 into the Google Earth search bar you’ll go right there. Regards to all.