$40million in 2019 revenue and current OS puts us much higher. This figure completely ignores the company guidance of a 20% increase in sales for 2020 but it shows the PPS is now undervalued based on a conservative valuation for KWBT.
They announced a $7.5m Q2 deal with a Chinese state owned company to expand biofertilizer markets and new joint venture in the soil remediation market that is receiving government support.
I meant that PPS fell for the day with the broad market. Over the past year, the low price is clearly due to the dilution that occurred. Not surprisingly, that is exactly what Kiwa Biotech are trying to remedy by seeking alternative sources of funding.
You confirmed you do not know if new Chinese investors will be bad for KWBT PPS. I do not know the outcome for KWBT PPS either but I can see Kiwa Biotech management prefer this route instead of more convertible debt. I am optimistic their "corporate update for all shareholders" contains a plan of action that has a good chance of success for KWBT common stock.
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