Huge YOY increase in 2011 was largely due to Gujiao facility that was purchased in late 2009 and ramped-up beginning in second half FY 2010.
Management intends to close the acquisition ASAP but by end of the year.
Management is putting all cash to use to close on Huajie facility and after that to fill the tanks and ramp-up sales.
Toups is on top of investor concerns and indicated after Huajie is taken care of the board of directors is willing to talk about dividends, but not until then. Toups said they had talked to the big 4 auditors and none of them want to take on new Chinese clients at this times due to problems in the sector. They have also talked to next tier down of auditors. Toups does not think a reverse split will do any good for LPH and I agree with that.
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