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China Green Agriculture, Inc. (CGA)
NYSE - Nasdaq Real Time Price. Currency in USD
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Some interesting points from their 10Q:
1. Book Value for CGA is $31.86
2. Gross Profit $14.4M (increased from 14.7% to 16.8%)
3. Doubtful accounts allowance $37.1M (22.8% a decrease from 26.7% of 6/2020)
Overall a very good step on the right direction. However, a much further reduction of SG&A is required to turn a profit.
Buy the dip!
Well we probably won't see a press release but today or Monday probably going to be a 10-Q quarterly results filing that will set the tone for the stock price. Every year but one in the last 5 years it's been filed on 5-15.
Can we stay above $15.00 today? Sure, why not? 😁
Another 10Q released and another huge loss...what else is new! CGA is now down to $5 million in cash from $150 million "on the books" a couple of years ago. There must be some type of stock price manipulation going on for the price of this stock to have increased so much since the beginning of year. I find it amazing that the diehard advocates of the company continue to support such a dishonest management team.
their preliminary proxy seems to be introducing three new directors to the Board, all related to cryptocurrency/blockchain
CGA continues its upwards trend. Although this is a mysterious share my gut feeling tells me that this is not het the end of the increase. 20 or 30$ are no longer imaginary
May come down to $7
I was about to invest in this. The financials looked very very good. But you have to do your due diligence. And even if you have formed a shareholder group, it doesn't mean you'll be left with anything at the end. Anyone that wants to invest, please read this first. I have no interest or short interest in this. Just looking out for other investors.
My impression is that CGA directors are not in any hurry to raise the value of their shares.
With this policy, many of us get tired and sell and while they buy super cheap shares.
When they need it (and it will be before 06.30.2019), they will take out the news of the repurchase of own shares and of dividend payments, and they will have accumulated many more profits.
Do not let us cheat, be patient and never sell and only buy at these levels !, (and up to $ 5 when we are approaching the date indicated).
There is hardly any risk, the company has shown to be "real", it is expanding in a transcendental market for China and continues to earn more and more money and increasing its assets.
It is a privilege to be able to get such cheap shares of such a company.
This is only my impression, Luck.
As of March 31, 2019, cash and cash equivalents were $69,242,037, a decrease of $81,563,602, or 54.1%, from $150,805,639 as of June 30, 2018. Does anyone know if this was used to increase inventories and advances to suppliers? if not, what? Trying to determine if this is a temporary reduction.
CGA just sold 471,000 shares at $12 per share for $5.6M (see SEC filing). The shares are unregistered and were sold to the same company that bought 500,00 shares in April (Shaanxi Baoyu Science and Technology Investment Company). Li's ownership and shares recently sold by CGA now amount to 47% of outstanding shares. It looks to me that Li is trying to get enough shares to secure a majority on any future vote. Looks like he wants to go private or merge the company with some other entity and want to make sure he has the control to do whatever he wants.
Does anyone know (or intuit) something that could justify such a rapid rise (and with enough volume), of the shares of CGA in these last two days?
I would appreciate opinions !.
Does anyone know or guess what may be the cause of this drop in the value of CGA shares?
What do you think is due to this sharp rise in the shares of this company? But fundamentally significant of this rise is what happens with such a large "hiring volume".
"On April 5, 2021, China Green Agriculture, Inc. (the “Company”) entered into certain Security Purchase Agreement (the “SPA”) with certain “non-US persons” as defined in Regulation S (“Regulation S”) promulgated under Securities Act of 1933, as amended (the “Securities Act”) (the “Purchasers”) in connection with a private placement offering (the “Offering”) of 2 million shares (“Shares”) of common stock, par value $0.001 per share, of the Company. The purchase price per share of the Offering is $7.00. The transaction contemplated in the SPA closed simultaneously with the execution of the SPA."
To better communicate with CGA management, we have formed a shareholder groupt. Our group now has shareholders representing over 2.7 million shares (>7% share ownership). If you would like to join the group, please email me at CGAshareholders@yahoo.com and let me know how many shares you have. I will seek your opinion on our communication and keep you informed on CGA management's response.
What is happening today?
Who can tell me something?
It seems that at last, we are going to see our trust with CGA rewarded, and our fidelity with this fidelity with this company.
Convertible notes Explanation
Many thanks to Karel for your explanation!
There are 630,000 convertible notes floating (used to finance acquisitions), 510,000 maturing on June 30th 2019 and 120,000 at Dec 30th 2019. They have been given a nominal value of 100 RMB each have an annual interest rate of 3%.
After the mature date they stop gaining interest and the note holders can convert the notes into common stock. At the mature date what happens depends on the share price:
If 75% of the share price is less than 5$ (share price is < $6.66), they will be converted as #stocks = (note nominal value with interest) / $5.
So with current conversion rates:
#stocks = (630,000 * 100RMB * (1.03)^3) converted to dollar / $5 = $10,850,000 / $5 = 2,170,000
If 75% of the share price is more than 5$, they will be converted as #stocks = (note nominal value with interest) / (75% of share price at date of conversion).
Now it depends on the share price, let's assume the share price is $10 at the time of conversion, then
#stocks = (630,000 * 100RMB * (1.03)^3) converted to dollar / (0.75 * $10) = $10,850,000 / $7.5 = 1,446,000
At worst 5.63% stock dilution (2,170,000 new shares if share price < $6.66), but less dilution if the stock price > $6.66.
The 3rd Quarter 10Q has been released prior to a press release. That's weird! Will they even disseminate a press release or convene a earnings call?? The numbers look good...not sure why they wouldn't want to talk about the quarter. More than $150 million in cash assets now.
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