Bodisen Biotech Share Discussion Threads

[cimbom] 04/10/2006 12:29

All the shares for the UK Aim listing were taken up by the instituitions.This is the extract from the rns on the first day of trading on the aim.

Its arrival on AIM follows the completion of a placing which saw institutions
invest #12 million for 1,643,836 new shares at 730p per share. The offer was
more than three times oversubscribed.

[cimbom] 04/10/2006 12:17

Leighbarton:
You are very welcome.
If i'm not mistaken there is only 20% of the shares in freefloat the rest is all held by instituitions.If you want give Charles Stanley a call for more accurate and upto date info.

[leighbarton] 04/10/2006 12:00

Cimbom and miamisteve - again thank for your postings, you are certainly helping me to get up to speed quickly on this, and is exactly how these BBs should operate

This does look to be very undervalued currently and very attractive for a new investor. To summarise as to why this share is currently attracting such a low rating:

1] unsubstantiated rumours on founder's health and problems with distribution plant)

2] dealings with a dodgy advisor

3] hedge on raw material price increases - due to unravel when?

4] overhang of shares as a result of hedge fund manager going bust

5] Agressive shorting of the shares because of above uncertainties

6] Discounting because the company is selling directly to farmers and loaning them money making them susceptable to any agricultural shock in China affecting output as small farmers would then be unable to pay back the loans.

7] Total reliance on the Chinese Mkt (although I thought to be listed in the US they had to have some operation in the US)

Against this the company is offering:

1] Product that not only increases yields to Chinese farmers, but dramatically increase the income they can get from their crops by being able to label them Organic
2] Product that has 900m potential customers
3] Cash rich though money allocated to increase production capacity
4] Huge tax incentives from govt (though some of these may come to an end in 2008)
5] Financial performance of a growth stock
6} Investment in a raw material supplier that in itself is performing well

To me therefore the factors that are of greatest concern are the impact of raw material price increases when their hedges expire and the potential of the company be prone to an Act of God. This latter risk is less than oil companies face having their production rigs hit by hurricanes or typhoons but evenso is a real risk to take into consideration.

Do we know what institutions are in this and how much of the 18m shares are actually in a free float?

On the balance this looks a pretty good story. Let me know if I have missed anything. I'll let you know when I'm in.

[miamisteve] 04/10/2006 11:36

dnevets- Done

Cimbom - Good post. The new issued shares look as if they have already been dumped on the market. Take a look at the 1 month chart and it has been a collapse ever since the 12th when the shares became unrestricted.

[cimbom] 04/10/2006 11:02

This should answer alot of the questions that were asked here yesterday.



Bodisen Biotech: The Little Fertilizer Company That Could
Posted on Oct 3rd, 2006 with stocks: BBC

David Phillips (10Q Detective) submits: Investors in Bodisen Biotech, Inc. (BBC), a manufacturer of organic fertilizers and pesticides targeting Chinese agricultural markets, saw the value of their holdings' lose about 17% last week, as the Company's past relationship with a 'colorful' adviser to emerging Chinese companies came to light.

Bodisen Biotech has since ended its relationship with the advisor, Benjamin Wey, and New York Global Group.

In addition to public relations work here in the U.S., according to an SB-2/A filed with the SEC in February 2006, the Company had an oral agreement with the Beijing office of New York Global Capital, Inc. for the payment of a corporate finance fee of $300,000 for help Bodisen acquire a dual listing on the London Stock Exchange.

Company and Market Description
Emerging from the shell of a start-up stage Internet-based commercial mortgage originator called Stratabid.com, Inc., Bodisen is now a highly profitable, one stop solution provider of the entire planting needs for Chinese farmers. With over 60 different products (sold in all seasons) in four categories: compound fertilizers, liquid fertilizers, pesticides, and agricultural raw materials, the Company has enjoyed-on average-a net margin of approximately 30% across its product lines.

The 10Q Detective first learned of Bodisen when we did our due diligence on China Natural Gas (CHNG), because the Company beneficially owns approximately 2.03 million, or about nine percent, of the Common Stock of CHNG (at $1.39 per share). Through the investment, Bodisen is looking to leverage CHNG's relationships with urea suppliers to obtain price discounts. Urea is a natural gas byproduct used in fertilizer production.

Bodisen's organic products have many advantages over chemical fertilizers. Its fertilizer products improve crop yields by 10% to 35% and are sold at prices similar to chemical fertilizers. Additionally, Chinese farmers that use Bodisen's organic fertilizer can have their fruits and vegetables government certified as "organic produce," which command as much as 200% higher in retail prices compared to non-organic produce, therefore substantially increasing farmers' income levels.

Bodisen's compound fertilizer products offer ease of use, because they are applied one time while each type of chemical fertilizers may have to be applied separately.

The Company is growing its business in a favorable market environment. The agricultural industry is strongly supported by the Chinese government. China, with 1.3 billion people, is one of the largest importers of grains in the world. Much of China's urban population of 500 million depends on imported grains to support higher demand for meat. In order to reduce dependence on foreign grains, the Chinese government supports the agricultural industry by providing many incentives to agricultural product companies. Bodisen enjoys tax-free status and is exempt from sales tax, VAT, agricultural product tax and income tax (income tax holiday through the end of 2007 and renewable thereafter).

Financial Analysis
The Company generated revenues of $26.9 million for the six months ended June 30, 2006, an increase of about $13.8 million, or 105.3%, compared to $13.1 million for the prior year period. Management believes that the strong first half of the year was made possible by repeat business from a loyal base of customers buying more items from Bodisen's product line (as they keep achieving greater crop yields).

Gross margin, as a percentage of revenues, increased from 37.4% for the six months ended June 30, 2005, to 39.6% for the six months ended June 30, 2006. The increase in gross margin was primarily attributable to an across the board increase in the selling price of its products.

Comprehensive income increased by 117.1% to $7.6 million (share-net of $0.48) during the six months ended June 30, 2006, as compared to $3.5 million (share-net of $0.22) for last year. The increase was attributed to a successful marketing campaign focused on increasing cross selling of all Bodisen's products to its customer base, and growing demand in new markets and regions throughout China. The Company also benefited from a prudent decision made in December 2005 to lock in raw material costs before cost increases were announced in the 1H:06.

[Ed. note. Talk about controversy! On December 8, 2005, Bodisen issued a $5.0 million promissory note to Amaranth Partners L.L.C. The obligation was used to lock in hedges against the aforementioned raw material cost increases in the current fiscal year. Amaranth Partners L.L.C. is a Delaware-registered subsidiary of the Greenwich, Conn.-based hedge fund Amaranth Advisors that collapsed after a misplaced bet on natural gas! The loan has since been paid back.

However, in connection with the issuance of the Note, the Company agreed to issue to Amaranth a warrant to purchase 133,333 shares of the Company's common stock at $7.50 per share (subject to adjustment). Given the liquidation going on over at Amaranth, one would suspect that these shares will hit the market--putting some short-term pressure on the price of Bodisen, too.]

Accounts receivables rose by $10.0 million in the 1H:06, resulting in negative cash flow from operations of about $(3.7) million.

The Company also advances credit to certain vendors for purchase of its material. The advances to suppliers are interest free and unsecured. The advances to suppliers amounted to $9.9 million at June 30, 2006.

Although red flags do exist, in our view, we can shrug them off (for now) because the Company does have a strong balance sheet without any long-term debts. As of June 30, 2006, working capital was $29.0 million (net unsecured advances to suppliers and monies kept in a bank account for investment in a new compound fertilizer plant in Xinjiang Province A La Er City).

Book value stood at $3.36 per share.

Valuation Analysis
In a short time the Company has gained a reputation for producing "green" products that address farmers' concerns in a market that is growing exponentially. Bodisen could easily earn $1.00 per share this fiscal year and is selling for a fraction of the [TTM] 36.5 and 22.5 P/E multiples commanded by agri-chemical giants Monsanto Co. (MON) and Swiss Syngenta AG (SYT), respectively.

The 10Q Detective prefers to look beyond Bodisen's short-term worries, because we see a favorable profit picture in this Company's future (forward five-year average growth of about 35 percent per annum).

Bodisen has one of the largest Chinese agricultural product distribution networks. The Company has Product Sale Agreements with more than 155 wholesalers in addition to the current potential to reach more than 60% of China's agricultural markets. As previously mentioned, the Company is building a new compound fertilizer plant in Xinjiang Province.

Our two-year target price is $26.00 per share, which implies (among other variables) the issuance of an additional seven million shares for future capex needs; the Company growing at 35% per annum; gross margins of at least 36.7%; equity risk premium of 5.0%; and an assumed WACC of 10 percent.

Investment Risks and Considerations
Risks to our opinion include gross margins squeezed by unanticipated raw material cost increases; unexpected competition from international agri-chemical giants; and, pricing power erosion related to declining economic benefits to farmers (defined in terms of crop yield and prices).

Management owns a significant amount of the Common Stock, giving them influence or control in corporate transactions and other matters, and their interests could differ from those of other stockholders. Two of Bodisen's principal executive officers, CEO Wang Qiong and President Chen Bo, collectively own approximately 45.48% of the Existing Common Stock. As a result, they are in a position to significantly influence or control the outcome of matters requiring a stockholder vote, including the election of directors and the approval of significant corporate transactions.

Bodisen's financial success depends upon the development of The People's Republic of China's agricultural industry. Roughly half of the PRC's labor force is engaged in agriculture, even though only about 10% of the land is suitable for cultivation. Although the PRC hopes to further increase agricultural production, incomes for Chinese farmers are stagnating. Despite the Chinese government's continued emphasis on agricultural self-sufficiency, an inadequate infrastructure, from port facilities to a lack of warehousing and cold storage facilities impedes the domestic agricultural trade.

Bodisen relies on local farmers to purchase its products, which are generally purchased under a "Cash on Delivery" or (as previously mentioned) on a 9-12 months credit; the farmers' inability to sell their agricultural goods could therefore hinder their ability to timely pay their credit obligations to the Company.

Of concern, in the 2Q:06, days-of-sales outstanding jumped almost 21 days to 97 days (as compared to the 2Q:05). To our new readers, this means that it is taking longer for Bodisen to collect on what it is owed by its customers-indicative of an 'easy money' lending policy? Management does note, however, in its SEC filings that credit terms of the sales vary from COD through a credit term up to 9 to 12 months.

However, should central China be hit with an 'Act of God'--floods, drought, or locusts--the allowance for doubtful accounts of $697,209 might prove to be woefully inadequate.

The People's Republic of China's Economic Policies could also affect the Company's business. Substantially all of the Company's assets are located in the PRC and substantially all of its revenue is derived from operations in the PRC. Accordingly, results of operations and prospects are subject, to a significant extent, to the economic, political and legal developments in the PRC.

BBC 1-yr chart:





Editor David J Phillips is long shares of Bodisen Biotech and China Natural Gas but has no financial interest in any other company mentioned in this posting. The 10Q Detective has a full disclosure policy.

[dnevets] 03/10/2006 21:59

miamisteve,
Please could you add the news and fundamentals to the thread header? Thanks.

[miamisteve] 03/10/2006 19:31

LeighBarton - The investment has double in value and although not clear it seems that with a gas biproduct one of bodisens raw materials they will have some leverage on the supply.

The initial fall off was attributed to the rumour that the ceo / founder was severely ill and unable to work, (apparently she had gone for a medical check up) and that the main distribution plant had been closed due to roadworks.

Incidentally I am planning to do a site visit when I am next in China. It won't be for a few months yet, but will report back my findings.

[cimbom] 03/10/2006 15:07

About China Natural Gas, Inc.

China Natural Gas, Inc., ("CHNG"), a Delaware company, is the first China based US public natural gas services provider that owns and operates a 120 kilometer long compressed natural gas pipeline in China's Xi'An area, a fast growing Chinese city supported by a population of approximately 8 million and is the "gateway" to the broad Western regions of China. CHNG has three profitable business segments: end user delivery of natural gas services to residential, commercial and industrial customers; wholesale natural gas to retail natural gas filling stations; and retail natural gas at company-owned natural gas filling stations. The city of Xi'An has approximately 20,000 Taxis, 3,000 buses and 2,000 special purpose vehicles that are powered by compressed natural gas. Approximately 8.6% of the company's shares are owned by Bodisen Biotech, Inc. (AMEX: BBC)

[leighbarton] 03/10/2006 14:57

Cimbom, thanks for that info - doesn't however really tell the shorting story that seems to be behind this dramatic sell off. Also I am puzzled by the investment in China Natural Gas - is it because they are a high energy comsumer?

[cimbom] 03/10/2006 14:25

This has just been released now.Bodisen has a share in this company.



BODISEN BIOTECH INC

China Natural Gas Expands to China's Most Populous Henan Province With Four New Retail Gas Stations
10/3/2006

NEW YORK, Oct 3, 2006 (PrimeZone Media Network via COMTEX News Network) --
China Natural Gas, Inc. (OTCBB:CHNG) (www.naturalgaschina.com), the first China-based natural gas public company traded in the U.S. capital market, today announced that the company has initiated construction of four new company-owned retail natural gas filling stations in Henan province, China's most populous province. Construction of the four new stations is expected to be completed in two months. The company currently has 11 operating stations.

Chairman and CEO Qinan Ji said: "With a population of more than 100 million, Henan represents a significant opportunity for us to expand our business model into one of China's largest retail markets for alternative fuel. We look forward to launching additional stations in the near future."

About China Natural Gas, Inc.

China Natural Gas, Inc. ("CHNG"), a Delaware company, is the first China-based U.S. public natural gas services provider that owns and operates a 120 kilometer-long compressed natural gas pipeline in China's Xi'an area, a fast growing Chinese city supported by a population of approximately 8 million and is the "gateway" to the broad Western regions of China. CHNG has three profitable business segments: end user delivery of natural gas services to residential, commercial and industrial customers; wholesale natural gas to retail natural gas filling stations; and retail natural gas at company-owned natural gas filling stations. The city of Xi'an has approximately 20,000 taxis, 3,000 buses and 2,000 special purpose vehicles that are powered by compressed natural gas. Approximately 8.6% of the company's shares are owned by Bodisen Biotech, Inc. (AMEX:BBC).

Safe Harbor Statement

This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of China Natural Gas, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

This news release was distributed by PrimeZone, www.primezone.com

SOURCE: China Natural Gas

China Natural Gas, Inc. Investor Relations: The Piacente Group, Inc. E.E. Wang [phone]

(C) Copyright 2002 PrimeZone Media Network, Inc. All rights reserved.

© 2006 Stockgroup Media Inc. | Disclaimer

[cimbom] 03/10/2006 14:16

This article is one of the few articles which tell the story as it is with an unbiased view.



Bodisen Biotech Inc.: Chinese Fertilizer Company's honeymoon on AIM, NYSE hits a bump
By William Foss


The 28th of March was a big day for Bodisen Biotech.

The company's maiden results since initiating a primary listing in New York and a secondary listing in London were closely watched by many pundits on both sides of the Atlantic to see how the fertiliser company faired. Compared to 2004, revenues grew 91% to USD $31 million and net income was up 75% to USD $8.8 million.

Furthermore, the order book for 2006 is already greater than 2005 and the company has also received an additional 2 year leave from paying Income Tax. Not to mention that during 2005, Bodisen successfully doubled it's organic fertiliser capacity and also acquired a strategic stake in China Natural Gas Company (OTCBB: CHNG).





Since moving onto the New York & London boards, Bodisen's market capitalisation has reflected an expectation of strong growth going forward, and the company didn't disappoint.

Bodisen currently has over 60 products on offer to farmers in over 20 provinces in China. The company boasts that its organic fertilizers are competitvely priced to chemical alternatives, but also offer up to 35% higher crop yields, improved soil conditions and also allows farmers to increase their own selling price by having their produce certified as organic green foods. Bodisen intends to aggressively expand market reach in China, and has also used the increased awareness from the dual listings as a way to start negotiations to form joint ventures with companies in the west. Perhaps the most compelling statistic of all supplied by Bodisen, is the fact that of the 1.3 billion people living in China, 900 million are farmers whose livelihood is dependent on crop yields - a massive market. Bodisen currently generates 67% of it's revenues from organic fertilisers - over the next 5 years organic fertilisers are expected to increase in use from 6% to 20% of the overall USD $25 billion Chinese fertiliser market.

So why have the shares plunged this morning?

Until this weekend the company had enjoyed a positive start to its life on the AMEX and LSE. Forbes Magazine named it as one of the Top 20 fastest growing companies in China, and the recent secondary London listing was claimed to be three times oversubscribed (Bodisen raised £12 million). The cash is earmarked for the construction of two new manufacturing plants, one in Helongjiang and the other in Xinjiang and also for purchasing raw materials and working capital. In January this year China also added a boost to Bodisen's business by eliminating a 15.5% agricultural tax on farm output as part of wider reforms to encourage greater productivity and output from China's agricultural industry to meet growing needs of the domestic economy.


However, this weekend the NY Post raised concerns over Bodisen's business, the lack of analyst coverage, and the apparent lack of transparency of the company's auditors and US broker. What the NY Post forgot to mention was that London based Charles Stanley Securities have written a note on the company too, but this is only available to institutional investors in the UK. Perhaps Bodisen should consider having an independant research note written to quell the critics?

Bodisen originally reversed into an OTCBB company a few years ago and then moved onto the American Stock Exchange main list last year. The secondary listing in London was an attempt to broaden the companies shareholder base and bring in some institutional support - a look at the volumes traded in New York compared to London quickly reveals that this stock is held by a large number of retail investors in the United States.

Bodisen appears as a very simple business selling an ordinary product into an extraordinary market. However, we spoke to some investors who have visited Bodisen's operations in China, and the impression was that the company is anything but simplistic: Bosidens operations actually incorporates a high level of sophistication, modern factories, and the company also has a sound understanding of the importance of marketing and brand awareness.

Going forward Bodisen has net cash in excess of USD $20 million, a rapidly expanding market to sell its products into and the potential to aggressively grow at home and abroad. On the flip side the company is trading on an high earnings ratio, so any slip ups could be severly punished, as was shown today when a little negative press comment created a severe drop.

[cimbom] 03/10/2006 14:09

dnevets:

Over the last 6 months this has been up and down three times within that price range.The first was just before their first quarter interims.If you take a look at the press releases from may you will see that they have all been caused by a shorting spree.It seems like someone has got it in for this company.As for whether the shorts have been closed they have been opened and closed and reopened and are in the process of being closed at present from my understanding of the state of play at present.

[leighbarton] 03/10/2006 14:09

Yup I am really puzzled - wasn't able to find the articles that so upset NYGG, but note BODI no longer retain their services.

Can anyone provide anymore background as to what has been going on here as these do look "a screaming buy". I note however that liquidity is pretty thin (only offered 750 shares on-line) and only 18.7m shares on the market.

What % of the company is in a free float? and are the shares always so thinly traded?

Sorry for all the questions.

[dnevets] 03/10/2006 13:27

Thanks for that cimbom, I knew I'd read that somewhere!
So do we know if those shorts are still open, or were they closed earlier in the year? (Might account for the recovery from ~450 to ~750?) If so, the subsequent falls could just be PIs 'getting out while they can' after enduring the volatility - which could make it a screaming buy right about.... now! Any thoughts?

[cimbom] 03/10/2006 13:22

LeighBarton:

This share seems to have been a victim of conspired shorting.Read the article with the link below

[dnevets] 03/10/2006 13:18

The chart looks awful, wasn't there a story a few weeks back about a group of shorters in the US that were forcing the price down? Can someone remind me what the gist of the story was?

Regardless of the confusion surrounding the chinese use of the word 'organic', I assume that nobody really cares (after all, the company's sales are all in China, so there would be no confusion about the products, yes?) and that all the growth projections such as those in the thread header still stand?

I'd really like to buy this, but I think it will head lower than the current level. I'll wait and see how it reacts if/when it hits £4...

[leighbarton] 03/10/2006 13:16

OK guys I confess to have accidentally stumbled on this and am really puzzled.

16th fastest growing company in China in an economy that is going super speed already.

Product that addresses the requirements of 900m odd customers

Dual listed with USA listing that normally rates shares such as these higher than the UK

Dual listing meaning these shares should fit into an ISA

What appear to be a great set of interims marginally ahead of IPO

Shares marked down 50% from IPO.

What's wrong here and why shouldn't I be investing up to my eyeballs?

[cimbom] 03/10/2006 13:01

Stegrego you are absolutely right.
How many companies do you know that can boast a set of interims like this:

Interim Results

RNS Number:6071H
Bodisen Biotech Inc
14 August 2006



14 August 2006

Bodisen Biotech, Inc.



Interim Results for the year ended 30 June 2006
Review and Extracts of the Form 10-KSB as required by the Securities and
Exchange Commission


Second Quarter Revenues Grow 95% Year-over-Year to $16.4 Million; Second Half of
2006 Growth Outlook Positive with Company Expansion



The following are some of the key financial highlights for the quarter ended
June 30, 2006 from the company's Form 10-Q filed with the Securities and
Exchange Commission (SEC) today:



SECOND QUARTER FINANCIAL & OPERATIONAL HIGHLIGHTS



* Revenues grew 95% to $16.4 million from $8.4 million in the same period of
2005.
* Gross Profit increased to $6.4 million from $3.3 million in the same
period last year.
* Net Income grew 118% to $5.9 million from $2.7 million in the same period
of 2005.
* Fully diluted EPS increased to $0.32 from $0.17 in the same period last
year.
* New fertilizer supply contracts for 200,000 metric tons signed to expand
into Xinjiang Province.

[stegrego] 03/10/2006 12:57

If the US papers didnt keep on sowing seeds of doubt about the company it would be well over 10 quid by now...

[cimbom] 03/10/2006 12:55

dnevets:

Your guess is as good as mine but my gut feeling tells me that this has now bottomed out and is well undervalued.If this goes any lower then this market is more than corrupt.

[dnevets] 03/10/2006 12:40

Is it safe to buy yet, or are they heading for sub £4?

[cimbom] 03/10/2006 12:01

Bodisen Biotech Nominated as One of Five Finalists for AIM 'International Company of the Year' Award, Receives Bank Association of Shaanxi Honor
NEW YORK, Oct. 2, 2006 (PRIMEZONE) -- Bodisen Biotech, Inc. (AMEX:BBC) (LSE:BODI) (website www.bodisen.com), the first China-based environmentally friendly bio-fertilizer company listed on a U.S. stock exchange, and dually listed in London, today announced the company has been informed that it is one of five finalist companies for the AIM 2006 International Company of the Year award.


The London AIM stock exchange currently includes companies from sixteen different countries outside the United Kingdom. Sponsored by PriceWaterhouseCoopers and the London Stock Exchange, the International Company of the Year Award is given to reward all-around excellence in AIM companies that are incorporated overseas. This year, Bodisen was one of approximately 20 companies that were considered as potential finalists for the award. The winner of the award will be announced on October 26, 2006.

The company announced that on Thursday, September 28, 2006, Bodisen was recognized by the Bank Association of Shaanxi with an "Honorable and Credible Enterprise" recognition. The honor is given to companies with a strong credit standing within the Shaanxi banking community.

"We are pleased and honored to receive recognition for Bodisen's achievements both locally in our home province of Shaanxi and internationally on the London Stock Exchange, where we have been listed since February of this year," said Chairwoman and CEO Karen Qiong Wang.

About Bodisen Biotech, Inc.

A Delaware company, Bodisen is headquartered in Shaanxi, China's agricultural hub. In January 2006, Bodisen was ranked the 16th fastest growing company in China by Forbes China. The Bodisen brand is a highly recognized fertilizer brand in China. Its environmentally friendly "green" products support the mandate of the Chinese government to increase crop yields for the purpose of decreasing China's dependency on food imports. Utilizing proprietary agricultural technologies, Bodisen sells over 60 packaged products, broken down into 4 product categories: Organic Compound Fertilizer; Organic Liquid Fertilizer; Pesticides & Insecticides, and agricultural raw materials. Bodisen's organic fertilizers are government certified as "organic" and can be absorbed by plants within 48 hours and enrich soil conditions without the damaging effects associated with chemical fertilizers. Bodisen's products address grains, vegetables, and fruit crops and have been proven to increase crop yields by 10% to 35% while being environmentally friendly. Among China's population of 1.3 billion, approximately 750 million are farmers or have agriculture related jobs whose incomes depend on their crop yields. With approximately 600 (and growing) nationwide distribution centers, Bodisen has experienced rapid growth.

Safe Harbor

This press release may contain forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of Bodisen Biotech, Inc. management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.

CONTACT: The Piacente Group, Inc.
Investor Relations:
E.E. Wang
[phone]

[miamisteve] 30/9/2006 05:56

Bodisen Biotech Ends Relationship With New York Global Group
NEW YORK, Sept. 29, 2006 (PRIMEZONE) -- Bodisen Biotech, Inc. (AMEX:BBC) (LSE:BODI) (website www.bodisen.com ), the first China-based environmentally friendly bio-fertilizer company listed on a U.S. stock exchange, and dually listed in London, today announced that on Thursday, September 28, 2006, the company terminated its relationship with New York Global Group, a former U.S. corporate advisor to the company.