Solomon has mentioned that the shares have often traded at a p/e of 8, and that multiple on 2011 earnings would get the price to $4.00, or thereabouts. Of course, the forward p/e would be "only" 4. I put "only" in quotation marks, because whereas it's a very, very low valuation for a fast growing company, it is well above that afforded the U.S. listed Chinese small cap companies.
That's the main reason to expedite any Asian exchange listing. This and possible future dilution need to be addressed on the conference call, along with business execution and new projections, as well as new public relations initiatives to promote investor awareness and promote company credibility.
If they continue with Nasdaq first, Solomon's comments indicate that he wasn't thinking of a reverse split. And I'm sure there'd never be a 1 for 10 split; 1 for 2 perhaps.
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