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SkyPeople Fruit Juice, Inc. Message Board

  • TokyoMess TokyoMess Apr 1, 2011 2:35 PM Flag

    Roth Downgrade with $4.50 price target- OUCH!

    The delay of apple concentrate project and undesirable sales of kiwi concentrate/fresh fruits has dampened SPU's growth outlook, in our view, despite strong performance from apple concentrate and beverage lines. Additionally, major deficiency identified in internal control and corporate governance warrants further scrutinization, in our view. We are downgrading SPU shares to NEUTRAL and cutting our PT to $4.50 (from $13.00).

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    • rokium@ymail.com rokium May 12, 2011 1:36 PM Flag

      strong sell for what ? You need to shortsqueeze soon? This stock can pass 4.50 easily and most stocks pass the target price. It means nothing ppl GO LONGS!!!

    • One of my contacts in China has confirmed that due to the warm weather, construction of the Huludoa Wonder project resumed about four weeks ago.

      I'm guessing that the filing of the recent Form 4's and some attempts to fix internal controls has alleviated some of Roth's short term concerns.

      I think we will see a positive report coming out next week and hopefully Roth will change it's tune.

      With some trepedation, I have decided to go long on SPU.

      <The delay of apple concentrate project and undesirable sales of kiwi concentrate/fresh fruits has dampened SPU's growth outlook, in our view, despite strong performance from apple concentrate and beverage lines. Additionally, major deficiency identified in internal control and corporate governance warrants further scrutinization, in our view. We are downgrading SPU shares to NEUTRAL and cutting our PT to $4.50 (from $13.00).>

    • April Fool's joke

      Hope they didn't get any of you.

    • Any ideas what "major deficiencies" Roth Capital identified in internal controls and corporate governance?

      • 2 Replies to dbkim83
      • From the 10-K:

        "In connection with such evaluation, management determined that the acquisition of Yingkou that was consummated in November 25, 2009 was a related party transaction that should have been subject to our policies and procedures governing related party transactions (Statement of Policies and Procedures with Respect to Related Party Transactions). Even though the ultimate purchase price of Yingkou paid by us was lower than the valuation appraised by a qualified third party, thus favorable to us, and there was no affiliation between the relevant directors and officers of the Company and the seller of Yingkou at the time Yingkou Acquisition was initially approved by the shareholders of SkyPeople (China) and the affiliation between the relevant directors and officers and the seller of Yingkou came into existence while the transaction was being delayed and such affiliation ended prior to the consummation of the acquisition, management determined that the failure to disclose the relevant affiliation while the transaction was pending was a material weakness in our disclosure controls and procedures. See Item 9A, Controls and Procedures, Item 13, Certain Relationships and Related Tra nsactions, and Director Independence, and Notes 3 and 4 of Notes to Consolidated Financial Statements for the Years ended December 31, 2010 and 2009."

      • I have no idea where Roth found that "deficiency". BDO's auditor's letter was CLEAN, without negative comments.

 
SPU
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