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Origin Agritech Limited (SEED)
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Does the Chinese agency responsible for making the decision follow a schedule or due dates like the FDA does? If so, does anyone know the date the decision for SEED's approval is expected by?
George - I tried calling China, but they wouldn't accept my collect call... Do you think they have email in China yet? Or maybe I can send a faxsmile to the Ag Ministry.
I double my position today.
George, I'll call China and let then know we're ready for the GMO approval announcement.
I just don't see this moving in the near-term. The stock price is going to fall to whatever price the $25M dilution is executed at.
$25M of dilution coming our way per SEC filing.
I hope they sold the $25M dilution when this was in the $26's.
The highly anticipated annual policy guideline for agriculture is issued today. For the first time, it proposes an orderly commercialization of GM seeds. Since this is a guideline, no details or timeline were included.
The relevant part is as follows in original Chinese:
Agriculture is a good sector, and SEED is doing well.
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Ministry of Agriculture policy Google translated:
Notice of the General Office of the Ministry of Agriculture and Rural Affairs on Encouraging the Original Innovation of Agricultural Genetically Modified Organisms and Regulating the Transfer and Breeding of Biological Materials
Ministry of Agriculture and Rural Affairs websiteRelease time: 02-1815:53Information Center of the Ministry of Agriculture and Rural Affairs
Agricultural and rural (agricultural and animal husbandry) departments (bureaus and commissions) of all provinces, autonomous regions and municipalities directly under the Central Government, agricultural and rural bureaus of Xinjiang Production and Construction Corps, and all relevant units:
In order to implement the spirit of the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China, the 2020 Central Economic Work Conference, the 2020 Central Rural Work Conference and the National Conference of Directors of the Agriculture and Rural Department, and give full play to the core role of biological breeding innovation in shaping the new advantages of agricultural science and technology competition, in accordance with the Biosafety Law, the Seed Law and Agriculture Regulations on the Safety Management of Industrial Genetically Modified Organisms and other laws and regulations further promote and standardize relevant activities for the research and development and application of agricultural genetically modified organisms. The relevant matters are notified as follows.
First, encourage original innovation and support high-level research. Support the research and development activities of innovative agricultural genetically modified organisms such as new genes, new traits, new technologies and new products. The newly developed agricultural genetically modified organisms should have breakthroughs, innovations and progress compared with similar approved production and application safety certificates. Low-level and homogeneous R&D activities are not supported.
Second, strengthen product iteration and support high-level breeding. The biological breeding level is measured based on the main varieties in production, and agricultural genetically modified organisms that have obtained the production application safety certificate are encouraged to transfer to excellent varieties. The comprehensive agronomic characteristics of the converted varieties should not be lower than the local main varieties.
Third, give full play to the role of the market and promote the transformation of achievements. Give full play to the decisive role of the market in resource allocation, and the research and development results will be tested by the market. Actively carry out comprehensive evaluation of agricultural genetically modified organisms production supporting characteristics, market maturity, product competitiveness, technological innovation and so on, select major achievements that can meet production needs, meet market needs and lead the future trend, open up key links from research and development to application, and accelerate the promotion and application of results.
Fourth, strengthen the cultivation of the main body and give full play to the leading role of enterprises. We will implement the dominant position of enterprises in the promotion and application of agricultural genetically modified organisms, support enterprises to form innovative consortiums, and promote the integration and promotion of innovative resources. Guide the high-quality agricultural genetically modified research and development achievements of colleges and universities to gather in enterprises according to the market mechanism. We will promote the cooperation between science and enterprises in genetically modified research and development, and encourage enterprises, enterprises and colleges and universities to jointly apply for production and application safety certificates, so that enterprises can truly become the main force of R&D, application and trade.
Fifth, standardize the flow of biological materials and strengthen traceability management. If the transfer and breeding of agricultural genetically modified biological materials at the stage above the production test, the legal entity shall report in writing to the Agricultural Genetically Modified Biological Safety Management Office of the Ministry of Agriculture and Rural Affairs 30 days in advance, providing relevant information such as whereabouts, use, traceability management, liability and obligations, and the text of the agreement drawn up by both parties (see the attachment for the format) . Transfer transfer and breeding report is included in the review of safety management measures in the safety assessment of agricultural genetically modified organisms.
Good news from China,
China plans to issue biosafety certificates to domestic GM soybean, corn
— 7:44 AM ET 12/30/2019
By Hallie Gu and Shivani Singh
BEIJING, Dec 30 (Reuters) - China's agriculture ministry said on Monday it plans to issue biosafety certificates to a domestically grown, genetically modified (GM) soybean crop and two corn crops, in a move towards commercializing GM grain production in the world's top market.
China will grant the certificate to SHZD32-01 soybean developed by Shanghai Jiaotong University, provided there is no objection during a 15-day period soliciting public opinion, the Ministry of Agriculture and Rural Affairs said in a statement.
If approved, it will become China's first GM soybean crop to receive such a certificate, a first step towards commercialized production.
Dabeinong's DBN9936 corn and double-stacked 12-5 corn developed by Hangzhou Ruifeng Biotech Co Ltd and Zhejiang University were also expected to receive the certificate.
Beijing has spent billions of dollars researching GM crops, but has held back from commercial production of any food grains because of consumer concerns about their safety.
China granted biosafety certificates to its first GM corn varieties and two domestic rice varieties in 2009, but has never moved to commercialize these crops.
Some in the industry believe Beijing's most recent move could mean that China is ready to start commercialization of some domestic GM crops.
"This signifies the policy changes from the central government as China is moving to commercialize GMO corn," said James Chen, chief financial officer of Origin Agritech Limited ( SEED
"GMO corn commercialization would benefit Chinese farmers, especially those in northeastern China," Chen said.
Origin Agritech ( SEED ) received biosafety certificates for its phytase GM corn trait in 2009 and has several new varieties of GM corn in the pipeline for biosafety approval, including insect resistance and glyphosate tolerance double-stacked traits.
China has said it aims to push forward the commercialization of GM corn and soybeans by 2020. Beijing has long approved imports of these products.
"If the government actually issues the certificate, it will be significant progress," said another source with a major developer of GM crop strains in China.
"But it really depends on whether the crops can be commercialized in the end," added the source, who declined to be named as he was not authorized to speak to the media. (Reporting by Hallie Gu and Shivani Singh; Editing by Louise Heavens and Jan Harvey)
Friday after closing my meager shares turned into 100 shares!!!
Something I found on the seed website: Entry into Modification of Material Agreement
Origin Agritech Limited, through its subsidiary Beijing Origin Seed Limited, (together “Company”) and Beijing Shihui Agricultural Development Co. Ltd. (“Shihui”) have entered into new discussions for a revised payment schedule under the original Master Transaction Agreement for the sale of certain identified assets, as previously amended. Shihui has confirmed to the Company its continued interest in completing the transaction, and has cited a difficulty in obtaining financing for the balance of its payment commitments as the reason for the delay in making its payments to the Company for the asset sales to date. The Company is assisting Shihui in its efforts to obtain funding. Although the parties are actively seeking a path to funding and completion of the asset purchase agreements, there can be no assurance at this time that the transaction will be completed as revised.
The new modification agreement revises the payment dates of the original agreement, as modified. The previously agreed November 2017 payment of RMB 43.6MM is to be delayed to December 15, 2017, in respect of the first asset sale, and the second payment of approximately RMB 40MM (subject to adjustment for outstanding payables between the companies) for the balance of the assets is to be made on January 15, 2018.
Additionally, Shihui, which currently has a loan from the Company in the amount of RMB21MM, will repay the full amount of the loan due on December 31, 2017.
Shihui has paid the deposit of RMB10MM at the time of signing the purchase agreement which is to be applied to the second asset sale and has paid total of RMB14mm towards the first closing of the assets.
With only 5.01M shares outstand and only a 3.25M float, this thing could really pop with some solid GMO news. Don't forget it peaked at $150 back around 2009ish when GMO news was stirring.
TOMORROW OVER 1 DOLLAR,GOOD NEWS IN THE WAY.
Mike the GOAT
When is the BLOCKCHAIN announcement
Plant your seeds here and soon you will have a big harvest
Last trade of the day was 247,000 shares, must have been a market order.
conference call!! this is going to be big!!
I could’ve written a better PR after watching the meetings last night. The 1.3 billion population of China creates a huge market opportunity. Using the rural distribution of seeds truly show cases the capability of Elastos technologies. There is a lot riding on this seed deal.
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