Bodisen Biotech Share Discussion Threads

[hvs] 24/7/2007 16:12

How right could salted crab have been.

SPOT ON.

[miamisteve] 24/7/2007 11:34

My reinvestment of the cash I pulled out of BODI has now made back 100% of my losses although because bodisen are a significant shareholders in CHNG I think Wong will have one more laugh at my expense with some pressure on the CHNG share price due to these results.

[miamisteve] 24/7/2007 11:31

Well. Thats worse than I thought. revenue down by over 50% and swinging from 15cent profit to 8 cent loss.

Sold my last holding today (4% of initial holding). Much lower than I would've liked, and at a huge discount to NAV.

Regarding NAV I think it is highly unlikely that those $20m of AR will be paid (i suspect that they never existed).

On the 27th of this month the class action lawsuit is going to resurface. The preliminary hearing will decide whether the case proceeds or not.

[bonzophil] 12/7/2007 10:50

Interims due in mid August - I see the price either going down 100% or up 200%.
Definitely one for the brave. Good header title miami.

[leighbarton] 12/7/2007 09:33

Miami - well done on the recuperation. I decided to use the remains of what I pulled out of here to day trade in some blue chips. Can't say I am anywhere close to recuperating 60%.

[miamisteve] 12/7/2007 07:42

Stegro - Will update the header when I have the chance. Have to admit having sold almost all my holding in bbc. Moved to CHNG.OB and have recouped 60% of my losses at this point.

Bodisens stake in CHNG has risen by around 80%, and is now worth $10m.

If you stripped out these and cash and wrote of the AR leaves the company on an enterprise value of less than x3.

The problem is that you can't trust these people. They have lied continuously.

[bonzophil] 10/7/2007 14:43

Stegrego - what does your 'Is the 14 month target of £15 meant to be an offer for the whole company?'refer to?
Edit - forget that Ive just noticed the header

[stegrego] 09/7/2007 19:23

Is the 14 month target of £15 meant to be an offer for the whole company?

If so its overpriced....

[leighbarton] 09/7/2007 16:58

I'm still watching this from the sidelines. Your post of May 1st is bang on the money. I can't really see what will need to change to get me back in to this. so watching from an interest point only.

[bonzophil] 09/7/2007 16:39

Is there anyone out there?

[bonzophil] 01/5/2007 16:54

The first quarter results came out on the 10th May last year. It will be interesting to see if there is any growth this year in sales / operating profit. I agree with your points Leigh regarding the annual results. There is no mention either of when the factory in the NW will be operational, and whether there is the business to keep it busy. We are now on a historic pe of about 4 which while cheap is not surprising. I think we will need to see the company addressing some of the corporate governance issues before we see much life in the shares.

[leighbarton] 01/5/2007 13:47

Any comment on the results is outweighed by the Amex delisting and resultant litigation proceedings. A number of points from the filing:

Wey got massive compensation, previously undisclosed from the various placings. $5m from the AIM listing alone. Why?

Part of the proceeds for the placing were to be used to build a factory in the NE. They subsequently decided not to do this. Why? what has the money been used for instead?

The company is making loans left right and centre. Huge advances to its suppliers, even larger ones to its customers. This now has risen to $18m. Remember this is to pure peasant farmers. No issue when things are going well, but should there be a drought then these farmers will have no reserves to honour their commitments. At $7m I was fairly relaxed about this, but this has soared since the interims. It would be good to have a geographic analysis of where these loans are distributed to see the exposure the company has to drought prone regions.

Corporate Governance is clearly an issue here with previously undisclosed dealings by the management and founding investors, distributions of which were made from a reserve over the last financial period. 738,000 shares are still o/s in this regard (shares unclaimed by fouding investors). What's this all about.

All these factors I think cloud what otherwise look a healthy set of numbers. The risk factor I think is just too high, with the possibility that the company could still take a hammering. Not tempted back in in spite of (maybe because of) the recovery in share price.

A real shame but it does highlight the potential risks of investing in Chinese entities. Let's hope BODI is a one off, and got away with it because it did reverse into the market as opposed to going through the rigours of an IPO.

[acko2001] 01/5/2007 09:18

No comment on the results?

[bluebarrie] 17/4/2007 14:37

good point well made

[richard carstone] 17/4/2007 14:24

I hope not to be in a position to check anything with Sam Goldwyn for some years yet.

[bluebarrie] 17/4/2007 14:22

Caution indeed but based on the previous figures.. Worth a little speculative grab of a couple of k .... So I am in.. HELLO ALL...
"Luck is being able to spot an opportunity before it passes you by" or something like that.. Check with Sam Goldwyn.

[leighbarton] 17/4/2007 13:40

Richard, I agree I would be very cautious about any announcements made by this company, especially if they feel that the US regulators are no longer brething down their necks. I'm still glad I got out when I did, even though the share is now 30% up since then.

[richard carstone] 16/4/2007 22:54

Incredible.

I expected everyone to be sighing with relief at the chance to offload a lot less catastrophically. Instead they're putting faith in figures on a bit of paper produced by these directors and unconfirmed by anyone else.

[bonzophil] 16/4/2007 17:14

Good idea Super

[supersturrock] 16/4/2007 15:25

Shall we all agree to migrate to the Organic thread ???

[supersturrock] 16/4/2007 15:24

Influence - exactly. At the present time nobody knows how many shares are in issue or supposed to be in issue. Presumably, the audited accounts will have to be qualified until this is sorted out.

[influence] 16/4/2007 15:20

one of the reasons the accounts (not that we have seen them) is unaudited is because the company do not know how many shares are in issue!

[influence] 16/4/2007 15:13

annual results are unaudited!!!

[cimbom] 16/4/2007 13:38

They are unaudited unil the end of the month!