I've been massively accumulating the stock today. I've followed the company for about a year and always wondered why they wouldn't file with the SEC. Had I not been asleep at the wheel in the past couple of days, I would have seen them catching up in all of their filings. This company has $1.7 BILLION in assets and 15,000 employees and I've determined (not filed yet) that their Q-4 of 2009 numbers are $211 million in revenue and for the entire year, about .55 in EPS.
Why all of a sudden is this monster company filing SEC reports for the past 6 years ? Well this morning I spoke with the company and learned that they're ready to expand their agricultural side of the business and will be looking for somewhere in the range of $50 to $100 million via an offering, but only after they're trading on the Nasdaq. They're currently talking to CCG (Crocker Coulson) about representing them as the company's IR firm and they're planning many investment road shows, etc. The remainder of their 10-Q's and 10-K's will be completely filed within 2 to 3 weeks and then they plan on putting out many more PR's about what the company's been up to lately and where they plan to go. I was told that they've taken a great deal of heat and rightfully so from past investors for appearing to have just dropped off the face of the earth when in fact the company is raidly growing.
Even with the recent big run-up in the stock price, this company will soon command a very respectable P/E and I suspect that by the end of April, the stock will probably be trading somewhere around $3.50 IMO.
I think YHGG will hit many many radars over the weekend for sure and see a very nice gap on Monday.
Chickenhats, OK, so we have seen one filing in the time period you mentioned. I guess that is a start. Any idea when the delinquent 2007 & 2008 filings will be done? Supposed they are as they were posted on the old YHGG website, so all it should take is geting it in SEC format and submitted. Any thoughts? TIA.
chickenhats - After doing the calculation I arrived at similar figures for Q4 - $210 million in revenue and roughly $.15 EPS for the quarter. That could be an answer to the question "why now"? Obviously the financial markets recovering in general, but in particular it looks like growth for YHGG picked up slightly in Q4, and Q1 2010 should be an easy comparison. So this would be an opportune time to try and raise capital, after of course, becoming current in filings and moving to Nasdaq/AMEX.
I sort of compare YHGG to RHGP (not nearly as big as YHGG), another pink sheet company that's actually going to be jumping straight to the AMEX and bypassing the OTC-BB. RHGP has 2010 EPS guidance of .52 (almost identical to YHGG for 2009) and even as a pink, the stock has risen recently from the $1.25 area up to $3.00, settling yesterday at $2.72