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CHİNA BİOTİCS AŞ Message Board

  • acorisk acorisk Jan 28, 2011 4:32 PM Flag

    Big 4 is real -vote to switch auditors now, or let BDO finish year (yr ends March 31) -- Smart Move

    Consistent with communications previously, the company plans to not disrupt (or slow down) current moves to fiscal transparency.

    However, they are bringing it up for discussion at the shareholder meeting.

    Prudent move - finish current year (year ends 3/31) with current auditor, with external oversight. Then bring new Big 4 auditor on for yr ending 3/31/12

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    • As far as your other questions go - the annual report contains a full audit (the audit that the company plans on having current auditors finish for this year, with oversight by the new auditors)...

      So, for 2009 report issued in 2010 - BDO was the auditor.

      for the 2010 report that will be issued in 2011 BDO will be the auditor(unless stockholders vote otherwise at the annual meeting on the resolution about finising this year with current auditors before moving to big 4 for next year)

      This year, the company has brought in the big 4 with anticipation of having a big4 auditor for the 2011 year

    • The Company has entered into an agreement with the Chinese government to construct a new facility in the Yangling Agricultural High-tech Industries Demonstration Zone ("Yangling"). The Company expects to spend an amount of no less than $50 million in two years on the Yangling facility.

      So, the 150 ton Phase I is up and running and the note to build it was paid off Dec 2010. ($25 milllion + interest)

      the Phase 2 within that factory site is under construction and is getting paid for out of IPO funds ($18 million)

      the New factory referenced above, will be built over 2 years at a cost of $50 million -- OUT of EXISTING RESERVES...

      So, capacity goes up each of the next few years as distribution goes up too...

    • The Company's construction of its new production facility has been on schedule since the most recent year-end report. The Company commenced commercial production at the new facility in February 2010. Phase 1 of the project involves constructing a facility capable of producing 150 tons of probiotics per year and costs $28 million, $25 million of which has been paid in 2010, and the balance is scheduled to be paid by the end of the calendar year 2010. Phase 2 of this project commenced in December 2009 and is expected to cost $18 million, which is scheduled to be paid in fiscal year 2011. The construction of Phase 1 of the plant is being funded by cash received from the sale of a convertible promissory note to Pope Investments II LLC on December 11, 2007. The construction cost of Phase 2 of the plant is being funded by cash received from the public offering of our common stock in October 2009. In this regard, we have leased 36,075 square meters of land in the Shanghai Qingpu Industrial Park District, on which we are constructing the new bulk manufacturing facilities. The plant will have an initial capacity of 150 tons per year with room for expansion to 300 tons per year

    • If the shorts are feeling over their heads on a stock heading north, there are a number of way they can hedge to decrease exposure.

      Selling expensive puts as they try to drive the stock down is one way...

      Of course, the best way would have been to be in on the original short and just cover. It's getting harder and harder to drive this stock down at this point.

      Great earnings coming on Friday
      Confirmed 8 digit bank balances
      2 - senior diligence visits from Royal - potential partner or aquirer

    • Ok, I will play your stupid game. No.

      Now you answer my questions: What about the shorts selling puts? Why would shorts sell puts? Why would they lower the price they are getting, if they were selling puts? Are the 10-Qs audited, or not? Simple questions. Let's see what you got.

    • You still did not answer about getting paid. Please, again, answer the question directly on the original thread.

      It should be simple... For instance you could say 'YES' or 'NO'

      Thx in advance.

    • You are really pathetic. If you have read the 10-Qs then you should know the answer to your stupid question? What is the answer? do I have to help you?

      Aren't you the same bozo who said that the shorts are selling puts, and selling them for less money? I asked you to explain why shorts would be selling pouts, and deliberately lowering the price of the puts. Can you explain that? Of course you can't, because it is lunacy. You are not equipped to discuss even the basics, but you as me if i have been paid. Are you being paid to make longs look stupid? That is precisely what you are doing.

      Now what about the 10-Qs? Are they audited? I will give you a chance to answer. I would suggest you read one or two before continuing to make a fool out of yourself. you should be paying me for the education I am giving you. Actually were are even, because I owe you a lot for your comedy.

    • I.ve read. Am testing your heresay. Once again. Please post primary data quote and source.

      PS ... Attack the messenger debating (ad hominem) gets you an Fail in a basic logic /debating class. Why, as such a clearly mar one, Don, would you resort to a strategy that makes you look sophomoric? It doesn't fit with your described self.evaluation of confidence.

    • You don't even know the basics. Have you read any of the 10-Qs? Read them. Your answer is there. Let's see if you have the brains to discover it. Get back to us and let us know what you find out. You people are comical.

    • Please post where you are not seeing these results .earnings. Audited or reviewed by auditors or retained advising accountants. Seems unlikely that these results next week wouldn't.t be bulletproof with all the scrutiny on the company

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