Too bad YONG management didn't go after those bloggers/short sellers who wrote these false reports on YONG and drove the stock price significantly down, making plenty of money from their boggus reports. Deer, SCEI and silvercorp had the guts, yes it costs money but now "Alfred Little" people are in trouble and people behind the blogger's site have been identified and the discovery process has started to find out how they built their "story" and how much money they made out of it. They could face a financial penalty and even jail time. It seems that a key figure has moved from Las Vegas to Canada to try to escape potential legal issues but we will see what will happen. Again too bad YONG didn't take the legal route to go after those bloggers, it did calm them significantly and the amount of shorted shares for DEER which used to be even higher than YONG as a % of float, over 3m shares on a float of less than 20m shares, is now below 800k shares. The short sellers are for sure now a lot less active on this company.
I have written to them in the past about using some of their money to "go after" the illegal manipulators of their stock. I will write again. However, I don't think they have a clue about what to do. They need to find a consultant specializing in this sort of thing. They went from one WEAK PR firm to another. And, their counsel in NY must be a joke to let this continue as well.
jon: While you are guessing and admiring your po-dunk college diploma on the wall, can you also guess which dictionary says that the meaning of "imminent" or "about to happen any moment" is "in hours, days," not in months?
I assume by now you have translated the two Yongye patents, and you have realized that Yongye is a complete fraud. You have also already read the SEC regulations, and realized that an employee is a an employee. That is why you are so disturbed.
LOLz. If aliens invade the Earth in 20 years, and the stock market is shut down, Ian/Richard will probably say, "I told you the company's delisting was imminent."
That's his sleazy game at work.
BTW: to any new folks on the board. I'm embarrassed to say I used to take this clown Ian/Richard's points somewhat seriously. I've since realized he'll just say whatever nonsensical, slanderous thing he can in order to discredit the company. His brain is like factory of un-researched, slanderous ideas.... and at this point, I'm guessing he's a hired hand... I mean the guy spends his entire miserable life slandering a company. (BTW Ian/Richard: someone like you telling someone else that he "should be ashamed" is comparable to a meth'd-out, morally decrepit used car salesman saying such a thing.)
Yongye International today announced that on November 16, 2010, the Company formed a strategic partnership with Farmer's Daily. Farmer's Daily was established over 30 years ago and was the first, and is currently the largest, national newspaper in China targeted at rural residents. It is also the largest print media administered by the PRC Ministry of Agriculture. This represents the first time Farmer's Daily has formed a strategic partnership with an operating business like Yongye.
"Our management team and board of directors are committed to enhancing shareholder value and are confident in the long-term health and future financial performance of our business. Based on current market prices, we believe that our shares are presently undervalued in the marketplace. Our board of directors is contemplating various alternatives to address this issue and will make an announcement as soon as the board determines the appropriate course of action."
There is a strong seasonality to our business with 70% to 80% of full year sales occurring in the second and third quarters. As such, we have historically had significant inventory needs. Our inventory level is determined by our management team based on our market assessment and confidence in future sales. We provide our key distributors up to six months credit terms and our very rapid sales growth means we have also seen an increase in our accounts receivable. That said, we believe we have secure accounts receivable. We have no bad debt in this regard and no accounts receivable outstanding over six months. Additionally, the efficiency of our cash collection efforts continued to improve this quarter as evidenced by our improved days sales outstanding for the quarter. We have a positive operating cash flow trend. We were very close to operating cash flow breakeven in the third quarter and expect to become operating cash flow positive in the fourth quarter. We have also significantly enhanced our borrowing power by securing lines of credit from commercial banks to help manage our working capital needs.
Yongye International today responded to recent analyst reports and web-based articles which inaccurately characterize Yongye's business, make false accusations regarding the Company's financials and related party transactions, and draw unwarranted inferences from documents that were filed by third parties with the Chinese government. The Company believes that these analysts and or the parties that have hired or are affiliated with them have engaged in reckless attempts to negatively influence trading in Yongye's securities for their financial benefit.
richard_x_roe: Disclose this - How many times have YOU been the defendant in a DEFAMATION Lawsuit(s)???
YONG's EARNINGS REPORT was stellar great!!! Furthermore, the Forward Guidance for Revenues is nearly DOUBLE that of the Analyst Consensus!!! LOAD UP!!! INVEST in YONG!!!
KEY EXCERPT (Business Outlook/Forward Guidance), I QUOTE:
<< Business Outlook
For the full year 2012, the Company reiterates its expected revenue between $495 million and $515 million and adjusted net income between $110 million and $120 million, which excludes the impact of non-cash expenses related to share-based compensation for management and independent directors, the amortization of the acquired Hebei customer list, and a change in the fair value of derivative liabilities. The Company also expects that its branded retailer network will be expanded to 35,000 by the end of 2012, which represents a 16.3% increase over the 2011 year-end number of 30,086. >>
As the LIE$ are unraveled via STRONG EARNINGS REPORTS, more and more defamation lawsuits will be filed against those that seek to ruin the reputation of hard-working, honest Chinese companies operating with honesty and integrity.
The DEATH PENALTY would be too easy on those that are PROVEN to be LIARS, spewing defamatory, misleading, blatant lie$. I prefer to see this kind of "human garbage" spend the rest of their years in prison.