Bunky, I'm not sure what you mean by the "credibility" of CPHI. In the past, investors have been concerned by:
a) High A/R balances and long pay-back periods.
b) Lack of an investor relations/PR campaign.
I think the company has sufficiently addressed (b), hiring a new IR firm recently and making several presentations to investors at conferences at Roth Capital and elsewhere in the past few months. A/R collection times have been a problem for the company, and are likely to remain an issue as long as they have hospitals for clients. For some reason, these institutions in China don't pay in a timely fashion. This is not a company specific problem, but an industry-wide issue. The company maintains that all its A/R will be collected, but its not unusual to see bills go unpaid for a year or more.
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