a reverse split with only 35 mil shares doesn't make much sense.
next step? they go private at $2. jmho of course.
$23 million is all they would need to repurchase the 11.5 million shares they don't already own. They can easily handle that with their cash on hand as well as their planned borrowing.
more likely they look to steal the company at $2------remember these are the Chinese.
exactly what you don't do if you are looking to go private; this one shows all the indications imo.
They are every bit as good a contrary indicator as Kramer.
Barrons' recent record as a contrary indicator has been almost on a par with that of Kramer--although not quite yet.
[a]sustainability has to be proven---this was their first profit in nearly 20 years of existence. If it continues the stock will rise.
[b] untaxed income doesn't get a very large multiple.