The company is profitable. And has a net asset base of $500M.
They were able to get a $25M loan from ECAB through a convertible note in late 2014. More recently, they got a low interest rate loan from 2 US institutions totalling $25M, I think, but had to give them stock as collateral. In China, SJAP can get a bank loan.
It shouldn't be hard for this company to get another convertible note. They have the most efficient prawn technology (know-how) in the world.
I wouldn't worry about the legal aspects of CJV's or EJV's. You should worry more about all the companies that have VIE's in China. And start with the big ones trading at a P/E of 20.
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