Eft Holdings (EFTB) research, news, and more from GeoInvesting

Company description

Wed, 07 May 2008 04:00:00 GMT

EFT BioTech, Inc. is an E-Business Company serving consumers with EFTB's world-class products, through an online business platform as its primary means to attract and cultivate its Affiliate network program. EFTB consumers can become EFTB Affiliates by sharing EFTB's product information with other potential consumers. EFTB offers its Affiliate network a portfolio of world-class products to market, and a robust infrastructure through which to receive payments and manage their customer referral sales.

Comments & Business Outlook

Tue, 18 Sep 2012 04:00:00 GMT

EFT HOLDINGS, INC.

Consolidated Statements of Income (Unaudited)

	Three Months Ended
	June 30, 2012			June 30, 2011

Sales revenues, net	$	602,086		$	9,520,294
Shipping charges		117,617			1,001,810
Access fees		108,270			-
Transportation income – Excalibur		-			1,012
		827,973			10,523,116
Cost of goods sold		135,936			1,190,596
Shipping costs		418			630,962
Operating costs - Excalibur		254,562			291,473
		390,916			2,113,031
Gross profit		437,057			8,410,085
Operating expenses:
Selling, general and administrative expenses		1,446,928			1,982,111
Provision for inventory obsolescence		683,687			-
Marketing expenses		-			41,441
Royalty expenses		59,052			271,925

Total operating expenses		2,189,667			2,295,477
Net operating income/(loss)		(1,752,610	)		6,114,608
Other income
Interest income		93,239			185,396
Interest expense		(36,573	)		-
Loss on disposal of fixed assets		(12,656	)		-
Gain/(loss) on disposal of securities available-for-sale		(619	)		86,000
Dividend income		14,459			12,528
Foreign exchange gain/(loss)		(74,830	)		611,642
Other income		1,628			2,393
Total other income/(loss)		(15,352	)		897,959

Net income/(loss) before income taxes and non-controlling interest		(1,767,962	)		7,012,567
Income taxes		-			-
Net income/(loss)		(1,767,962	)		7,012,567
Non-controlling interest		103,964			329,835
Net income/(loss) attributable to EFT Holdings, Inc.	$	(1,663,998	)	$	7,342,402

Net income/(loss) per common share
Basic and diluted	$	(0.02	)	$	0.10
Weighted average common shares outstanding
Basic and diluted		75,983,201			75,983,201

Comments & Business Outlook

Mon, 23 Jul 2012 04:00:00 GMT

EFT HOLDINGS, INC.

Consolidated Statements of Operations (Unaudited)

	Three Months Ended						Nine Months Ended
	December 31, 2011			December 31, 2010			December 31, 2011			December 31, 2010

Sales revenues, net	$	847,462		$	3,305,807		$	13,090,135		$	10,857,113
Shipping charges		316,470			854,770			1,680,353			2,606,500
Transportation income/(loss) – Excalibur		(4	)		81,329			1,020			139,113
		1,163,928			4,241,906			14,771,508			13,602,726
Cost of goods sold		260,991			1,696,916			2,173,965			4,098,657
Shipping costs		145,803			531,885			1,133,616			1,516,778
Operating costs - Excalibur		284,656			451,326			838,963			2,273,975
		691,450			2,680,127			4,146,544			7,889,410
Gross profit		472,478			1,561,779			10,624,964			5,713,316
Operating expenses:
Selling, general and administrative expenses		2,116,501			1,833,110			5,991,874			5,565,850
Marketing expenses		115,398			299,374			223,393			853,133
Royalty expenses		157,790			502,566			872,191			1,522,251
Impairment loss of loan receivable		-			1,567,000			-			1,567,000
Impairment loss of transportation equipment		-			1,164,091			-			5,364,091
Total operating expenses		2,389,689			5,366,141			7,087,458			14,872,325
Net operating income/(loss)		(1,917,211	)		(3,804,362	)		3,537,506			(9,159,009	)
Other income/(expense)
Interest income		96,545			254,770			393,918			764,984
Gain on disposal of held-to-maturity securities		-			243,855			-			243,855
Gain on disposal of securities available-for-sale		4,195			22,590			98,559			116,239
Dividend income		12,882			9,586			38,935			21,355
Foreign exchange loss		(194,970	)		(6,248	)		(1,106,848	)		(1,924	)
Other income		111,567			23,087			116,329			58,173

Total other income/(expense)		30,219			547,640			(459,107	)		1,202,682

Net income/(loss) before income taxes and non-controlling interest		(1,886,992	)		(3,256,722	)		3,078,399			(7,956,327	)
Income benefit/(taxes)		-			(143,539	)		64,900			(145,939	)
Net income/(loss)		(1,886,992	)		(3,400,261	)		3,143,299			(8,102,266	)
Non-controlling interest		565,639			876,257			1,230,751			4,143,406
Net income/(loss) attributable to EFT Holdings, Inc.		(1,321,353	)	$	(2,524,004	)		4,374,050		$	(3,958,860	)

Net income/(loss) per common share
Basic and diluted	$	(0.02	)	$	(0.03	)	$	0.06		$	(0.05	)
Weighted average common shares outstanding
Basic and diluted		75,983,201			75,983,205			75,983,201			75,983,205

Investor Alert

Thu, 28 Jun 2012 04:00:00 GMT

Section 1 Registrant’s Business and Operations

Item 1.02 Termination of a Material Definitive Agreement.

On June 15, 2012, EFT Holdings, Inc. (the “Company”) received a letter (the “Letter”) from Meifu Development Co., Ltd. (“Meifu”), a company incorporated in the Republic of China (“Taiwan”), wherein Meifu served notice of a termination (as of that date) of its contracts with the Company for the purchase of an office building in Taipei, Taiwan (the “Taiwan Building”) and a purported forfeiture of the Company’s deposit of approximately $17.3 million (the “Deposit”). The Company is currently considering how to respond to the Letter.

On May 2, 2011, Jack Qin, as an agent, entered into agreements with Meifu and TransGlobe Life Insurance Inc. (“TransGlobe”) to purchase the Taiwan Building, which is under construction and expected to be completed by the end of 2013. On July 1, 2011 and July 7, 2011, the Company’s wholly owned subsidiary (EFT Investment Co. Ltd. (Taiwan)), as a party to the contract in place of Jack Qin, entered into two sets of agreements with the sellers of the office building that provided for substantially the same rights and obligations as the original May 2, 2011 agreements.

The total purchase price for the Taiwan Building, which consists of 14 floors and 144 parking spaces, is approximately $237.9 million. Pursuant to the terms of its agreements with Meifu and TransGlobe, the Company was obliged to pay the Deposit to Meifu, a separate deposit to Transglobe and to make twelve (12) installments (in various amounts) until the completion of the building project. The residual payment of approximately $164 million was due at the time of completion of the building project.

The latest payment to Meifu, in the amount of approximately $13.4 million purportedly due on January 20, 2012, was suspended by the Company due to, among other things, the failure of Meifu to comply with certain conditions precedent applicable to the agreements. Meifu has declared in the Letter that its contracts with the Company for the Taiwan Building have been terminated and that the previously paid Deposit is forfeited. The Company is currently considering how to respond to the Letter, and will take all steps to protect its rights.

Comments & Business Outlook

Sun, 11 Dec 2011 05:00:00 GMT

EFT HOLDINGS, INC.

Consolidated Statements of Operations (Unaudited)

	Three Months Ended						Six Months Ended
	September 30, 2011			September 30, 2010			September 30, 2011			September 30, 2010

Sales revenues, net	$	2,722,379		$	3,785,434		$	12,242,673		$	7,551,306
Shipping charges		362,073			868,200			1,363,883			1,751,730
Transportation income – Excalibur		12			57,784			1,024			57,784
		3,084,464			4,711,418			13,607,580			9,360,820
Cost of goods sold		362,843			1,173,703			2,168,430			2,401,741
Shipping costs		356,851			669,319			987,813			984,893
Operating costs - Excalibur		55,513			218,680			144,497			910,572
		775,207			2,061,702			3,300,740			4,297,206
Gross profit		2,309,257			2,649,716			10,306,840			5,063,614
Operating expenses:
Selling, general and administrative expenses		1,814,909			1,919,937			3,727,617			3,663,000
Depreciation		285,674			942,738			557,566			981,818
Marketing expenses		66,554			277,858			107,995			553,759
Royalty expenses		442,476			512,747			714,401			1,019,685
Impairment loss of transportation equipment		-			4,200,000			-			4,200,000
Total operating expenses		2,609,613			7,853,280			5,107,579			10,418,262
Net operating income (loss)		(300,356	)		(5,203,564	)		5,199,261			(5,354,648	)
Other income (expense)
Interest income		111,977			338,103			297,373			510,214
Gain on disposal of securities available-for-sale		8,364			88,557			94,364			93,649
Dividend Income		13,525			11,769			26,053			11,769
Foreign exchange gain (loss)		(1,523,520	)		(128,105	)		(911,878	)		4,323
Other income		2,369			19,836			4,762			35,086

Total other income (expense)		(1,387,285	)		330,160			(489,326	)		655,041

Net income (loss) before income taxes and non-controlling interest		(1,687,641	)		(4,873,404	)		4,709,935			(4,699,607	)
Income benefit (taxes)		64,900			(2,400	)		64,900			(2,400	)
Net Income (loss)		(1,622,741	)		(4,875,804	)		4,774,835			(4,702,007	)
Non-controlling interest		335,277			2,792,696			665,112			3,267,149
Net income/ (loss) attributable to EFT Holdings, Inc.		(1,287,464	)	$	(2,083,108	)		5,439,947		$	(1,434,858	)

Net income/ (loss) per common share
Basic and diluted	$	(0.02	)	$	(0.03	)	$	0.07		$	(0.02	)
Weighted average common shares outstanding
Basic and diluted		75,983,201			75,983,205			75,983,201			75,983,205

The Company’s products are sensitive to business and personal discretionary spending levels and tend to decline or grow more slowly during economic downturns, including downturns in any of the Company’s major markets. The current worldwide recession is expected to adversely affect the Company’s sales and liquidity for the foreseeable future. Although the Company has mitigated decreases in sales by lowering its levels of inventory to preserve cash on hand, the Company does not know when the recession will subside and when consumer spending will increase from its current depressed levels. Even if consumer spending increases, the Company is not sure when consumer spending will increase for its products which will affect its liquidity

CFO Trail

Sun, 13 Nov 2011 05:00:00 GMT

On August 30, 2011, Jeffery Cheung resigned as the principal financial and accounting officer of EFT Holdings, Inc. (the “Company”), as disclosed in the current report filed on Form 8-K with the Securities and Exchange Commission on August 29, 2011. On November 4, 2011, the Company has appointed William Sluss to act as the Company’s interim chief financial officer until such time as the Company is able to appoint a new chief financial officer.

Comments & Business Outlook

Thu, 25 Aug 2011 04:00:00 GMT

EFT HOLDINGS, INC.

Consolidated Statements of Operations(Unaudited)

	Three Months Ended
	June 30, 2011		June 30, 2010

Sales revenues, net	$	9,520,294	$	3,765,872
Shipping charges		1,001,810		883,530
Transportation income – Excalibur		1,012		-
		10,523,116		4,649,402
Cost of goods sold		1,805,587		1,228,038
Shipping costs		630,962		315,574
Operating costs - Excalibur		88,984		691,892
		2,525,533		2,235,504
Gross profit		7,997,583		2,413,898
Operating expenses:
Selling, general and administrative expenses		1,912,708		1,743,063
Depreciation		271,892		39,080
Royalty Expenses		271,925		506,938
Marketing expenses		41,441		275,901
Total operating expenses		2,497,966		2,564,982

Net operating income (loss)		5,499,617		(151,084	)

Other income (expense)
Interest income		185,396		172,111
Gain on disposal of available-for-sale securities		86,000		5,092
Dividend Income		12,528		-
Foreign exchange gain		611,642		132,428
Other income		2,393		15,250
Total other income		897,959		324,881

Net income before income taxes and non-controlling interest		6,397,576		173,797
Income taxes expense		-		-
Net Income		6,397,576		173,797
Non-controlling interest		329,835		474,453
Net income attributable to EFT Holdings Inc.		6,727,411	$	648,250

Net income per common share
Basic and diluted		0.09	$	0.01
Weighted average common shares outstanding
Basic and diluted		75,983,201		75,983,205

Liquidity Requirements

Thu, 25 Aug 2011 04:00:00 GMT

On May 2, 2011, Jack Qin, as an agent, entered into agreements to purchase an office building located in Taipei, Taiwan. The office building is under construction and will be completed by the end of 2013. The total purchase price for the office building, which consists of 14 floors and 144 parking spaces, is approximately $248 million. On May 31, 2011, EFT Investment Co. Ltd. (Taiwan) assumed the same rights and obligations under these agreements. As of the date of this filing, the Company’s Board has not approved the purchase of the building. The Company has made payments of $21 million toward the purchase price as of August 11, 2011. The Company intends to retain one floor of the office building for its own business operation and plans to sell the majority of the remaining floors.

Pursuant to the terms of these agreements, the Company is obliged to pay the remaining twelve (12) outstanding installments with various amounts due over the next twenty-six (26) months till the completion of the building project. The next payment, in the amount of approximately 14 million, is due on November 21, 2011. Each subsequent quarterly payment, starting from April 20, 2012, is approximately $4 million. Finally, the residual payment of approximately 170 million is due at the time of completion of the building.

Investor Alert

Sat, 23 Jul 2011 04:00:00 GMT

Excalibur filed a lawsuit against Jiao Ren-Ho (former chairman of Excalibur) in the Taiwan Shihlin District Prosecutors office in February 2010. Excalibur alleges, among other things, that Jiao Ren-Ho committed the offences of capital forging, fraud, breach of trust, and document fabrication.

Comments & Business Outlook

Thu, 10 Feb 2011 05:00:00 GMT

Latest 10q filing for the quarter ended 12/31/10

Comments & Business Outlook

Fri, 28 Aug 2009 04:00:00 GMT

We believe that the Business to Customer business is robust and that consumers have become more confident in ordering products, like ours, over the internet. However, the nutritional supplement and cosmetic e-business markets have and continue to become increasingly competitive and are rapidly evolving. Barriers to entry are minimal and current and new competitors can launch new websites at a relatively low cost. Many competitors in this area have greater financial, technical and marketing resources than our Company. Continued advancement in technology and increasing access to that technology is paving the way for growth in direct marketing. We also face competition for consumers from retailers, duty-free retailers, specialty stores, department stores and specialty and general merchandise catalogs, many of which have greater financial and marketing resources than we have. Notwithstanding the foregoing, we believe that we are well-positioned within the Asian consumer market with our current plan of supplying American merchandise brands to consumers and that our exposure to both the Asian and American cultures gives us a competitive advantage. There can be no assurance that we will maintain our competitive edge or that we will continue to provide only American made merchandise.

However, the global economy is currently undergoing a period of unprecedented volatility, and the future economic environment may continue to be less favorable than that of recent years. This has led, and could further lead, to reduced consumer spending in the foreseeable future, and this may include spending on nutritional and beauty products and other discretionary items, like our products. In addition, reduced consumer spending may drive us and our competitors to decrease prices. These conditions may adversely affect our revenues and profits.

Our long-term plan is to use funds from the private placement and revenues earned for investments and acquisitions to allow us to grow our existing business operations and to enter into additional territories. To date, we have not located any acquisition targets nor do we have any commitments for capital expenditures, other than Excalibur. We believe that due to the current global economic recession, there might be material opportunities for us to acquire smaller companies at discount prices. There can be no assurances however that we will be successful in doing so. Our expansion will rely to a great degree on global economic conditions and perceived future changes. Until such time, we intend to retain our cash reserves to fund our operations.

Source: SEC Form (10Q For the quarterly period ended June 30, 2009)

Comments & Business Outlook

Tue, 21 Jul 2009 04:00:00 GMT

Our products are sensitive to business and personal discretionary spending levels and tend to decline or grow more slowly during economic downturns, including downturns in any of our major markets. The current worldwide recession is expected to adversely affect our sales and liquidity for the foreseeable future. Although we have mitigated decreases in sales by lowering our levels of inventory to preserve cash on hand, we do not know when the recession will subside and when consumer spending will increase from its current depressed levels. Even if consumer spending increases, we are not sure when consumer spending will increase for our products which will affect our liquidity. We believe we have enough capital to fund our operations during the next 12 months.

Source: SEC Form 10K (For the fiscal year ended: March 31, 2009)

Potential Valuation Scenarios

Sun, 15 Feb 2009 05:00:00 GMT

Previous valuation scenarios should not be relied upon, due to a recent significant decline in revenues and profitability.

The situation may be temporary:

Our Revenues decreased from $22,984,940 for the nine months ended December 31, 2007 to $12,993,810 for the nine months ended December 31, 2008. Revenues decreased because of natural disasters that occurred in China from extreme cold, earth quakes, and monsoon and interruptions caused by delivery problems due to the Beijing Olympics.

The GeoTeam® will monitor the next few quarters for signs of a rebound.

Source: SEC Form 10Q (For the quarterly period ended December 31, 2008)

Comments & Business Outlook

Sun, 15 Feb 2009 05:00:00 GMT

Industry Trends

We believe that the Business to Commerce -business is robust and that consumers have become more confident in ordering products, like ours, over the internet. However, the nutritional supplement and cosmetic e-business markets have and continue to become increasingly competitive and are rapidly evolving. Barriers to entry are minimal and current and new competitors can launch new websites at a relatively low cost. Many competitors in this area have greater financial, technical and marketing resources than our Company. Continued advancement in technology and increasing access to that technology is paving the way for growth in direct marketing. We also face competition for consumers from retailers, duty-free retailers, specialty stores, department stores and specialty and general merchandise catalogs, many of which have greater financial and marketing resources than we have. Notwithstanding the foregoing, we believe that we are well-positioned within the Asian consumer market with our plan of supplying American merchandise brands to consumers and that our exposure to both the Asian and American cultures gives us a competitive advantage.

Source: SEC Form Third Quarter 10Q (For the quarterly period ended December 31, 2008)

Research

Wed, 14 May 2008 04:00:00 GMT

Came public via a reverse merger. The company is still on the Pink Sheets.

"After giving effect to the exchange, there will be approximately 61,256,900 shares of the Company's common stock issued and outstanding."

(Source: Press November 8, 2007)

Company issued guidance in November 2007 for the year ending December 2007 equating to 100% revenue growth and net income growth. The company did not give earnings per share (EPS) guidance. Using 61.2 million shares outstanding this would translate into $.36 EPS. The GeoTeam is still attempting to find out if guidance assumed any tax. We hope that there will be more information forthcoming soon, as the company recently hired an accounting firm to prepare audited financials.

If guidance is taxed and if the company can continue its growth the stock may attract investor attention. The GeoTeam® also needs to get a better handle on capital and possible share needs.

Potential Valuation Scenarios

Wed, 14 May 2008 04:00:00 GMT

Trailing earnings per share (EPS): $0.36
Forward EPS: NA
EPS past growth rate: 100%
EPS future growth rate: NA

The GeoTeam used 2007 guidance to derive EPS of $.36 in these scenarios. The company still has not reported 2007 results. We also assumed the company to be fully taxed. We will provide an update as soon as more information becomes available.

Short Term (NOW) Scenarios Based on:

P/E of 25 on four quarters trailing EPS: $9.00

P/E of 15 on four quarters forward EPS: NA*

Long Term ( 12 Months Forward) Scenario Based on:

P/E of 25 on four quarters forward EPS: NA*

Alternate Scenarios Based on P/E to EPS Growth Comparison:

Common rule of thumb that the P/E should equal the past EPS growth rate: $36.00
Common rule of thumb that the P/E should equal the future EPS growth rate: NA*

*Estimates and/or guidance not currently available.

These scenarios are not intended to be buy or sell investment advice, but are scenarios based on some commonly used investment guidelines. They are provided to aid investors in making their own investment decisions.

Comments & Business Outlook

Wed, 14 May 2008 04:00:00 GMT

2007 company Provided Guidance:

For the Fiscal year Ended December 31,
--------------------------------------
2007(b)
(Projected)
------------------------
% of
($) Revenue
Revenue
Sales $ 88,000,000 100%

Costs of Goods Sold
Commissions (54,560,000) 62%
Product Costs (9,275,200) 17%
-------------
Total Cost of Sales (63,835,200) 73%

Gross Profit 24,164,800 27%

General and
Administrative
Expenses (G&A) 3,520,000 4%

Other Income from
Operations 1,760,000 2%

Net Income 22,404,800 25%

Source ( Press November 20, 2007 )

Financials

Wed, 07 May 2008 04:00:00 GMT

For the Fiscal year Ended December 31,
--------------------------------------
2006(a)
(Unaudited)
------------------------
% of
($) Revenue
Revenue
Sales $ 44,300,000 100%

Costs of Goods Sold
Commissions (27,466,000) 62%
Product Costs (4,669,220) 17%
-------------
Total Cost of Sales (32,135,220) 73%

Gross Profit 12,164,780 27%

General and
Administrative
Expenses (G&A) 1,772,000 4%

Other Income from
Operations 886,000 2%

Net Income 11,278,780 25%

(Source: Press November 20, 2007 )