Cash, bank loan and credit line. No shares issued.
Great point. The CEO is a young man in his early 40's, he might become the next T. Boone Pickens in China at this rate. Partnering with the government, and the govenment acting as LPH's facilitator for new facility purchases, the terms of the loan could be quite impressive! Also, new facilities every 2 years and LPH is a multi-billion dollar NYSE company in the near future.