"On October 10, 2019, the Company loan approximately RMB 14.3 million (approximately US$ 2.0 million) to Yangling Sankang Agriculture Development Ltd. The repayment date is June 30, 2020, the monthly interest rate is 1% after January 1, 2020."
There is no debate on that entry. I will ignore your claim of this funding being diverted to salaries and instead pay attention to: "The aggregate audit fees for 2019 paid and payable to Friedman LLP were approximately $220,000. "
The bottom line:
2.05m plus 1% monthly interest 7.5m USD order completed in Q2 14m USD bank financing arrangement to accelerate receivables
can all help to wipe out short term and long term debt. With audited revenues for 2019 of 40m USD and projected to increase by at least 20%, the market cap of the stock should be valued near $100m USD.
In the short term, the April 8th PR confirmed management are trying to resolve the convertible debt. Now we see there is 2.05m USD due within 2 weeks. In the long term, expensive debt can be removed with their large revenues.
The business is in the right area for growth in biofertilizer, soil remediation and aquaculture markets that access 1.4 billion consumers. Foreign entities are trying to access China for it also. The market is huge and long term.
I care about the due diligence directly affecting KWBT now and in the future that relates to my investment here.
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