Research - GeoResearch

Tuesday, March 16, 2010

Premier Power Renew Energy (PPRW)

Comments & Business Outlook
For 2010, the Company is expecting: Revenue of $105-$115 million vs. $30.8 million in 2009. Gross margin between 16%-20%. Historically, we have successfully funded the construction of our large scale projects through a combination of debt, equity and vendor partnerships, and this guidance is based on the Company’s ability to continue to do the same in 2010. This is an important and critical…

Research
Premier Power Renew Energy has caught our attention. The company reported higher net income for 2009 vs. 2008 on lower sales. However, company guidance implies revenues will explode to a range of $105-$115 million in 2010 from $30.8 million 2009. As usual their is caveat: "Historically, we have successfully funded the construction of our large scale projects through a combination of debt, equity and vendor partnerships, and this guidance is based on…

Monday, March 15, 2010

Asia Cork Inc (AKRK)

GeoSpecial Notes
See new GeoWire Article…

Bmp Sunstone Corp (BJGP)

Comments & Business Outlook
Non-GAAP net income was $3.6 million, or $0.07 per diluted share, compared to $4.1 million, or $0.10 per diluted share, in the fourth quarter of 2008. On a GAAP basis, the Company reported net income of $2.0 million, or $0.04 per diluted share, compared to $1.4 million, or $0.03 per diluted share, in the fourth quarter of 2008. During the fourth quarter…

Charter Communications (CCMM)

Special Situations
The GeoTeam® has nibbled at CCMM. We noticed some big trades $2.35 below the bid. We refer to this as reverse raisers; wiping out a seller. Over the years this type of price action has indicated a bullish short-term signal for the GeoTeam®. We performed further due diligence and it appears that the company reported 2009 non-GAAP EPS of around $10.00. Combining this revelation with EBITDA per share of around $…

China MediaExpress Holdings (CCME)

Research
New independent article available on CCME…

China Techfaith Wireless (CNTF)

Comments & Business Outlook
TechFaith currently expects revenue to be in the range of US$60 million to US$62 million for the first quarter of 2010. This forecast reflects TechFaith's current and preliminary view, which is subject to change. The company reported first quarter 2008 sales of $48.7 million…

Hambrecht Asia Acquisition (HMAQF)

Blank Check Activity
On March 11, 2010, the shareholders of Hambrecht Asia Acquisition Corp. approved the proposed acquisition. In addition, at the meeting, warrant holders approved the amendment to the warrant agreement to increase the exercise price per share of the warrants from $5.00 to $8.00 and to extend by one year the exercise period and to provide for the redemption of the publicly-held warrants, at the option of the holder, for $0.50 per share upon the closing…

Sunsi Energies Inc (SSIE)

Research
In October of 2009 SunSi Energies Inc. (OTCBB: SSIE), through its wholly-owned subsidiary SunSi Energies Hong Kong Ltd., executed definitive Articles of Association for the creation of a newly formed Joint Venture, which will own and operate an existing Trichlorosilane (TCS) production facility in Zibo, China. As previously announced, SunSi will own 90% of the Joint Venture Company; named Zibo SunSi Chemical Co. Ltd., specifically formed to own the assets,…

Sunday, March 14, 2010

Accuride (ACUZ)

Research
We have stumbled upon another company that has emerged from chapter 11 bankruptcy: On October 8, 2009, Accuride’s U.S. entities filed a voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware. On February 26, 2010, the Company emerged from Chapter 11 with a new capital structure. Additional information surrounding the Company’s restructuring including details of the Plan is available at www.accurideinfo.com…

Artistry Publication (APBS)

Reverse Merger Activity
China Redstone Group goes public via a reverse merger on February 12, 2010. Company Snap Shot: A private cemetery developer and provider of cemetery products and services in Chongqing, China. All of the plots of its first cemetery development project, the 66,660 square meter Chongqing Guiyuan Cemetery I, have been sold, and it is currently developing the Chongqing Guiyuan Cemetery II on over 666,000 square meters of land. Financial Snap Shot: Reference 8k…

Saturday, March 13, 2010

Ensign Services Inc (ESVC)

Reverse Merger Activity
Ensign Services Inc. (OTCBB: ESVC) announced that it completed a reverse merger with Tin Nghia Petrol Joint Stock Company in August 2009. Management believes the reverse merger transaction is one of the first successful reverse mergers of a Vietnamese company on the U.S. stock exchanges. The Company intends to complete a name change to Timex Assets and Services Company Snap Shot: (Reminds us of CBEH in some respect). Timex A&S has 28…

Share Structure
Post Merger Share Calculation: 10,000,000: Pre reverse merger outstanding shares 45,900,000: Newly issued shares of Common Stock (August. 2009) GeoTeam® best effort calculation of total post reverse merger outstanding shares assuming full conversions: 55,900,000 Note: Pursuant to the Escrow Agreement, the Company placed 30,405,800 Acquisition Shares into an escrow account, pending the approval and registration of the Subsequent Acquisition in…

Friday, March 12, 2010

Solar Enertech Corp (SOEN)

Liquidity Requirements
The Company has incurred significant net losses and has had negative cash flows from operations during each period from inception through December 31, 2009 and has an accumulated deficit of approximately $72.2 million at December 31, 2009. For the three months ended December 31, 2009, the Company had operating cash flows of approximately $0.1 million and incurred a net loss of approximately $3.9 million. The Company’s consolidated financial statements have been prepared on…

Thursday, March 11, 2010

Benda Pharmaceuticals Inc (BPMA)

Investor Alert
The Company has become aware that Excalibur Limited Partnership and Excalibur Limited Partnership II (the "Plaintiffs") filed a motion for summary judgment in lieu of a complaint pursuant to CPLR § 3213 (the "Motion") with the Supreme Court of the State of New York (the "Court"), alleging that the Company has been delinquent on the payment of an aggregate sum of $600,000 and accrued interest and costs arising from the Convertible Promissory…

Research
Net revenue decreased by $2.51 million (or 12.6%) to $17.35 million for the nine months ended September 30, 2009 from $19.86 million for the nine months ended September 30, 2008, while the net revenue decreased by $0.73 million (or 11.0%) to $5.90 million for three months ended September 30, 2009 from $6.63 million for three months ended September 30, 2008 Decrease in revenue is principally…

Djsp Enterprises (DJSP)

Comments & Business Outlook
2009 Financial Highlights Revenue for the quarter increased 33.3% to $70.5 million from $52.9 million in last year's comparable period. For the year 2009, revenue increased 30.7% year over year to $260.3 million. Adjusted Net income was $12.1 million in the fourth quarter. For the 12 month period, adjusted net income was $44.6 million or $2.14* per share. Adjusted…

Golden Elephant Glas Tch (GOEG)

Research
Comments from third quarter 10Q: Our financial and operating results for the quarter ended September 30, 2009 were, and are expected to be for the foreseeable future, suboptimal due to the worldwide global economic crisis. Since many of our customers operate in industry segments that have been hardest hit by the economic crisis, such as the automotive, construction and home furnishing industries, our performance has consequently suffered. Until the amelioration of the economic crisis, particularly in the industry segments…

Renhuang Pharmaceuticals (RHGP)

Comments & Business Outlook
The Company increased the price on Shengmai Granules based on continued strong sales volume and market demand for the product. "While we had assumed a price increase for Shengmai Granules in our outlook, the ability to quickly implement this price increase reinforces our confidence in the fiscal 2010 guidance," said Mr. Shaoming Li, Renhuang's Chairman and CEO. "Renhuang remains committed to delivering the best value proposition for our customers by providing high quality healthcare products and investing in…

Smtc Corp (SMTX)

Comments & Business Outlook
"Historically, the Company has not provided specific full year financial guidance. However, in the first quarter there are signs of some economic recovery and customer inventory rebuilding. Accordingly, we are experiencing continued strong order flow from longstanding and newer customers together with a strong opening backlog, which should result in continued sequential revenue growth in the first quarter, and continuing strength through the first half of the year." stated Mr. Caldwell. Source: PR Newswire (March…

Yuhe Intl Inc (YUII)

GeoSpecial Notes
YUII is down sharply this morning on details in an 8K mentioning that its independent registered public accounting firm, that Grant Thornton is resigning as the Company’s independent registered public accounting firm effective immediately. Details: In the Company’s Annual Report on Form 10-K/A filed on June 3, 2009, the Company has concluded that certain related party loans between the Company and Shandong Yuhe Food Group Co., Ltd. have constituted…

Wednesday, March 10, 2010

A & J Venture Capital Group (AJVE)

Research
On January 10, 2010, we entered into a joint venture with an unrelated third party to form a new company called “A&J Brewery Ltd.” After the new company is set up we will own 50% of the common stock. We will jointly operate the new venture with the third party, who will be mainly responsible for the marketing, exporting, production, and management of the plant. We will be responsible for the business…

Charter Communications (CCMM)

Research
We will track Charter as it emerged from Chapter 11 on November 30, 2009. Coding as GeoSpecial on the radar. We are not sure if this restructuring story has legs. It requires more due diligence. EBITDA is $21.00 per share, but we are still attempting to get a grip on EPS. The Company has applied to NASDAQ to list its Class A common stock and believes it will be in a position to complete the listing…

China Gerui Advanced Mate (CHOP)

Comments & Business Outlook
"We are pleased with our fourth quarter and full year results," said Mr. Mingwang Lu, Chairman and Chief Executive Officer. "Our top line growth was driven by our ability to increase the volume of our sales to meet continued robust customer demand and rising average selling prices for our products. The majority of our revenues come from the domestic consumer market in China, which we believe will continue to exhibit growth. Additionally, our continued focus on operational efficiency and…

Eastern Envtl Solutions Corp (EESC)

Research
We will follow the Eastern Envtl Solutions more closely due to the following events: Announced that it will increase its disposal capacity by 25% in the first quarter of 2010 at its Harbin municipal solid waste (MSW) landfill. GlobeNewswire (March 1, 2010) Entered into a letter of intent with Veolia Environment, one of the world's leading environmental services firms, on a project to establish a power plant that would utilize recaptured landfill gas from…

Hambrecht Asia Acquisition (HMAQF)

Financial Target Agreements
5,800,000 newly issued SPAC Shares, will to be held in an escrow account by an affiliate of Honesty Group’s Hong Kong counsel, and delivered to the former shareholders of Honesty Group if the Combined Company meets certain net income targets contained in the Share Exchange Agreement. The 5,800,000 escrowed SPAC Shares will be delivered to the former shareholders of Honesty Group in 2011 and 2012 as follows: 5,000,000 SPAC Shares will…

Blank Check Activity
Hambrecht Asia Acquisition is set to vote on a business combination proposal with the Chinese subsidiaries of Honesty Group: SGOCO Technology Ltd Company Snap Shot: The company designs and manufactures SGOCO brand LCD products in China SGOCO currently sells its products via multiple channels including computer stores, distributors and specialty retailers, but is focused on developing a more vertically integrated Direct Store Delivery system, via a strategy referred to as SGOCO Clubs. SGOCO currently sells…

Liquidity Requirements
At the end of 2009, Honesty Group had $1.5 million remaining under its $7.4 million multi-year technology and manufacturing grant from Jinjiang City. Honesty Group also had $36.2 million in approved credit lines with its various banks. Because of our record of growth, profitability, and technology-based manufacturing, management is confident that the Jinjiang City government and its banking group will continue to support us with needed capital resources in the future. Two of Honesty…

Harbin Electric Inc (HRBN)

Comments & Business Outlook
Looking ahead, Mr. Yang commented, "We are ready to move the Company forward to a sustained profitability in 2010 supported by a solid platform that we have built over the past years as we expect continuous growth and leverage our strong financial position and promising portfolio of products. Although the first quarter is traditionally slower with the long Chinese new-year holiday, we do not expect this seasonality to impact our business significantly compared to the fourth quarter. We also expect that the…

Perma-Fix Environment Services (PESI)

Comments & Business Outlook
Dr. Centofanti concluded, "Looking ahead, we continue to position Perma-Fix at the forefront of the nuclear waste treatment and nuclear services industry. In addition to the opportunities in our base nuclear waste treatment business, we have identified sizeable opportunities treating higher activity wastes, as evidenced by recent shipments in the third and fourth quarters of these types of waste streams. We have also operated onsite at Hanford for over a year and we have built a solid reputation for our work…

Tuesday, March 9, 2010

Alpha Pro Tech Ltd (APT)

Comments & Business Outlook
Al Millar, President of Alpha Pro Tech, commented, "Our fourth quarter revenues and profitability continued the positive momentum that we experienced in our earlier quarters in 2009, which allowed us to deliver record results. We continued to see substantial sales growth in our REX Synfelt synthetic roof underlayment and, to a lesser extent, our house wrap products. We are currently working on opportunities with existing and new distributors, and we are optimistic about the Building Supply segment throughout 2010 and…

Asia Entertainment & Reso (AERCF)

Investor Presentations
Asia Entertainment & Resorts Nov. 2009 Investor Presentation…

Monday, March 8, 2010

China Energy Corp (CHGY)

Research
On March 2, 2009 we initiated a trading position in China Energy shares in the mid $1.00 area. The company reported it 2009 financial results via a 10K filing: >--------------------------------------------------…

China Mass Media Corp (CMM)

Comments & Business Outlook
"Conditions in the Chinese advertising market began to improve towards the end of 2009. We saw our clients start to become much more active in allocating their advertising budgets to both new and old projects during the fourth quarter. We took advantage of our strong media resources to meet their increased demand and higher advertising budgets." "We are confident that the economy and the advertising industry will remain strong throughout 2010. We closely reviewed our stock of media resources last quarter and…

Jade Art Group Inc (JADA)

Comments & Business Outlook
"...Chinese economy is recovering and showing great improvement. This has a positive impact on the commercial and residential construction markets and the high-end jewelry market into which the company sells raw jade. The new sales policy, reduction on the rate of sales advances on new orders from 30% to 10%, is another factor that contributes improving the revenue JADA indicates that is not in need of capital." Source: SEC Third Quarter 10Q filing…

Soko Fitness & Spa Group (SOKF)

Investor Presentations
March 2010 Investor Presentation…

Friday, March 5, 2010

Ats Corp (ATSC)

Comments & Business Outlook
Based on ATSC`s year to date profit margins, the Company is updating its EBITDA (1) guidance for 2009. The Company is now increasing its EBITDA (1) forecast for the year to be between $12 million and $13.5 million. The Company is reiterating its revenue guidance range of $121 million and $125 million. Dr. Bersoff commented, "We have consistently exceeded our target EBITDA and EBITDA margins each quarter of 2009 and expect…

Research
We will be tracking the Ats Corp story due to: New contract awards. PR Newswire (March 4, 2010) The company strong EPS growth in its third quarter. (Revenues are still weak).BusinesssWire (November 09, 2009) The stock trades at less than one times its book value per share of $2.19…

China Electric Motor Adr (CELM)

Share Structure
Post IPO Share structure as a result of a reverse merger transaction on March 3, 2009, private placement transactions and subsequent IPO on February 3, 2010. 4,612,662: Pre reverse merger outstanding shares 4,612,662: Pre reverse merger warrants outstanding shares 3,260,659: Shares cancelled as part of the Share Exchange 3,985,768: Warrants cancelled as part of the Share Exchange (626,…

Renhuang Pharmaceuticals (RHGP)

Investor Presentations
Renhuang Pharmaceuticals March 2010 PresentationBest if viewed at full size. Hit escape to exit…

Spectrum Brands Inc (SPEB)

Special Situations
On November 6, 2009 we issued an alert that SPEB had recently emerged from Chapter 11 bankruptcy. Over My Twenty years of investment experience buying stocks that have emerged from bankruptcy have been a highly rewarding strategy. During the chapter 11 process the company communicates with the courts and debt holders to develop a viable operating plan that will ensure the survival of the company, while satisfying its obligations. Typically, all or a good deal of the common stock is cancelled and new…

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