$$ D E T O N A T I O N $$
http://www.marketwatch.com/news/story/...BE8AA%7D&dist=TQP_Mod_pressN
gruß
The Chinese environmental technologies company, which provides power generation and industrial dyeing enterprises with proprietary cleanup equipment, has formally engaged an auditing firm in New York and a Shanghai-based law firm to handle its in-China legal matters.
Through November 2006, this "green power" company reported unaudited, net profits of about $4 million after taxes, an increase of nearly 100% from fiscal year 2005. Its total assets exceeded $15.5 million, based on information provided by the accounting firm.
The Chinese health foods beverage company completed the pre-audit procedure in February 2007. Now, it is in the process of formally engaging a qualified U.S. auditor. This Chinese company produces a wide array of beverages, including yogurt drinks that presently sell in California, in addition to its 15-province market coverage in China.
Through December 2006, this health foods beverage company reported unaudited, net profits of about $1.4 million. Its total assets exceeded $15 million, based on information provided by the accounting firm.
From his Beijing office, Genesis Director Dr. Shaohua Tan stated: "Additional candidate partner companies are being screened in China by the Genesis team. Our goal is to sign up 4-6 new partners in the next 12-18 months. Each could provide Genesis with substantial profits and assets enhancement.
"However, this is a challenging and risk-laden process. Followers of the Genesis business model must understand that, until the Chinese partner company officially reaches public company status and files its initial Form 8-K, a high degree of risk exists that the partner may not ever attain that status. While the receipt of such stock is contractual, Genesis still recognizes that such compensation is conditional on performance and specific deliverables," reminded Dr. Tan.
The complete letter is accessible at http://www.genesis-china.net/letters.html, on the Genesis website, or by email and regular mail upon requests made to the Corporate Headquarters in Boca Raton, Florida.
Among the key points of the letter are:
-- For fiscal year 2006, the Company reported net income of $2.9
million and assets of $7.2 million, making the year its most
successful in its history. This equated to net income of $0.03
per common share, fully diluted, and a positive increase,
year-to-year, of $6.6 million. Its revenues reached $6,750,229 as
compared to $154,580 for the year ended September 30, 2005, an
increase of $6,595,649 or 4267%.
-- From its evolving Genesis Equity Partners program, an umbrella of
limited liability subsidiaries, the Company believes that it
could generate at least $2 million in profits from each Chinese
partner company. Such projected profits are based on the first
graduate of the revitalized program, Lotus Pharmaceuticals, Inc.
(LTUS : lotus pharm inc comNews , chart , profile , moreLast: 1.75-0.25-12.50%10:00am 03/07/2007Delayed quote dataAdd to portfolioAnalyst Create alertInsiderDiscussFinancials Sponsored by:LTUS1.75,
-0.25,
-12.5%
)
that actually produced profits far exceeding these
levels. Genesis projects it could add as many as six new partners
to its existing four contracts, and envisions profits possibly
reaching $20 million and assets of $30 million or more.
-- Management holds that forming a turnkey operation coupled with
sustainability and repeated success should convince the U.S.
investment community that Genesis is for real and deserves the
consistent support that would limit the current vagaries and
uncertainties of the Bulletin Board market place. The letter
concludes by stating that "management has reached the point that
it welcomes being judged by results and not promises."
so what: gute news, die amis kaufen wie verrückt und der maydornreport hat sie auf der watchlist mit kaufempfehlung. ran an die buletten - sagt der berliner - es ist zeit für einen sauberen start gen norden! annie
Lotus CEO Liu Zhongyi described how the Beijing-based company intends to start a major expansion program through acquisition and its well-performing R&D program. His comments followed Lotus' obtaining initial financing of $3 million in February:
"We have targeted the acquisition of a Beijing company that is a major drug supplier to 99% of the 'Triple A' hospitals in Beijing (the highest grade hospitals in China), and to 90% of the 'Double A' hospitals in Beijing. These dominant market positions are valuable to Lotus to market its current drug products as well as reselling new drugs from overseas pharmaceutical companies. If completed, this acquisition could add about $100 million to Lotus's annual revenues.
"We have also targeted a pharmaceutical manufacturing and marketing company in South China. The value of this company is its strong R&D capability. This company had revenues of about $9 million last year, with a 20% profit margin. It has developed and owns 30 new drugs approved by SFDA, with very strong market prospects. One of the new drugs, already in the clinical trial stage, is classified as a 'National Class One New Drug' for cardiac vascular diseases. This drug is expected to deliver an effective and cheap alternative to the current costly drugs of the same category.
"With appropriate financing, our strategy is that, by acquiring these two companies, Lotus will establish itself as one of the major pharmaceutical companies with much expanded marketing channels and a good range of products, plus a superb R&D capability. The revenue expansion comes from selling a range of both high turn-around products and new and effective drugs through the much-expanded marketing channels. The profit margin improvement comes from selling more self-manufactured drugs. These are the key strategies for a pharmaceutical company to win in China under the current market conditions.
"To summarize our post-acquisition profile, Lotus could have near-term revenues of about $142 Million, with a 10% profit margin. More importantly, it would put Lotus on the fast track to leverage on the synergy of the companies. And we conservatively forecast 20% growth in revenue for the coming years, with an average margin of about 12-15% after acquisitions. This would place Lotus amongst the top 100 pharmaceutical companies in China," Dr. Liu concluded.
2007-04-03 06:30 ET - News Release
BEIJING, April 3, 2007 (PRIME NEWSWIRE) -- Genesis Technology Group, Inc. (OTCBB:GTEC) announced the signing of a contract with a major Chinese steel products company, as the fifth partner company in its private-to-public program. As reported by the Chinese company, fiscal year 2006 showed revenues of approximately $45 million, net income of $6 million, and net assets of $22 million. The Company reported annual revenue growth in excess of 20% for the past three years.
Text zur Anzeige gekürzt. Gesamtes Posting anzeigen...
As part of its suite of services for its steel products partner, Genesis has engaged a Certified Public Accounting firm in Beijing to perform the pre-audit and a Shanghai-based law firm to complete the requisite legal work. Upon completion of this stage of the process, the Company will engage a U.S. auditing firm to conduct a U.S. GAAP audit. The entire private-to-public program, under the "umbrella" subsidiary Genesis Equity Partners (GEP), is estimated to require 6 to 9 months, after which Genesis should earn a significant equity stake in the newly established public company, as it did with Lotus Pharmaceuticals, Inc. (OTCBB:LTUS) last year.
Dr. Shaohua Tan, who negotiated the contract with the steel products company, serves as the Genesis Director at its Beijing executive offices. Dr. Tan commented: "The GEP private-to-public program is a challenging process, requiring committed Chinese partners and experienced U.S. guidance. Coupling Genesis\' skill base with exciting, high-growth Chinese companies can produce benefits for all parties.
"We now have five partner companies in various stages of our program. With the exception of our newest partner, each of these partners has a U.S. corporate identity: (1) Lotus Pharmaceuticals, (2) Gold Horse International, (3) China Environmental Technologies, and (4) Oriental Health Beverages.
"Our fifth partner company, the steel products enterprise, is larger than previous clients and offers Genesis a compelling opportunity for shareholder value creation. With China\'s unrelenting growth and construction, our steel products partner is well poised for a bright future. We shall report as this company moves through the GEP program, as we will with Gold Horse and our two other identified partner companies. We anticipate signing additional partner companies in the near future," Dr. Tan concluded.
About Genesis Technology Group, Inc.
Genesis Technology Group, Inc. (d/b/a Genesis China and GTEC) is a U.S. public company that earns, enhances and markets equity positions in small to mid-sized Chinese enterprises. Commitment, dedication, and expertise are the key components to the Genesis "Mission Statement." It has created a successful profit center by incubating Chinese companies in a wide range of sectors, creating so-coined "partner companies." Genesis makes a long-term commitment with management consultation, board of directors composition, creation and implementation of successful business models, which include expansion of markets in China and abroad. To help drive the success and profitability of these operations, Genesis provides resources and proficiency to maximize partners\' leadership potential in China and attempts to increase high-margin, predictable earnings. For more information, visit http://www.Genesis-China.net.
Safe Harbor Statement and Disclaimer
Certain statements set forth in this press release constitute "forward-looking statements". Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply Future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company\'s actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company\'s ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company\'s limited operating history, the limited financial resources, domestic or global economic conditions -- especially those relating to China, activities of competitors and the presence of new or additional competition, and changes in Federal or State laws, restrictions and regulations on doing business in a foreign country, in particular China, and conditions of equity markets. More information about the potential factors that could affect the Company\'s business and financial results is included in the Company\'s filings, available via the United States Securities and Exchange Commission. The capital and growth program, the Company\'s central profit center, has specific risks and liabilities. Followers of our business model must understand that, until the Chinese partner company officially reaches public company status and files its initial Form 8-K, a high degree of risk exists that the partner may not ever attain that status. While receipt of a significant equity position in these companies is contractual, Genesis still recognizes that such compensation is conditional on performance and specific deliverables.
CONTACT: Genesis Technology Group, Inc.
Kenneth L. Clinton, President
(561) 988-9880
Fax: (561) 988-9890
info@Genesis-China.net
7900 Glades Road, Suite 420
Boca Raton, Florida 33434
United States of America
News , chart , profile , more
Last:
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
GTEC, , ) announced the signing of a contract with a major Chinese steel products company, as the fifth partner company in its private-to-public program. As reported by the Chinese company, fiscal year 2006 showed revenues of approximately $45 million, net income of $6 million, and net assets of $22 million. The Company reported annual revenue growth in excess of 20% for the past three years.
As part of its suite of services for its steel products partner, Genesis has engaged a Certified Public Accounting firm in Beijing to perform the pre-audit and a Shanghai-based law firm to complete the requisite legal work. Upon completion of this stage of the process, the Company will engage a U.S. auditing firm to conduct a U.S. GAAP audit. The entire private-to-public program, under the "umbrella" subsidiary Genesis Equity Partners (GEP), is estimated to require 6 to 9 months, after which Genesis should earn a significant equity stake in the newly established public company, as it did with Lotus Pharmaceuticals, Inc. (LTUS : LTUS
News , chart , profile , more
Last:
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
LTUS, , ) last year.
Dr. Shaohua Tan, who negotiated the contract with the steel products company, serves as the Genesis Director at its Beijing executive offices. Dr. Tan commented: "The GEP private-to-public program is a challenging process, requiring committed Chinese partners and experienced U.S. guidance. Coupling Genesis' skill base with exciting, high-growth Chinese companies can produce benefits for all parties.
"We now have five partner companies in various stages of our program. With the exception of our newest partner, each of these partners has a U.S. corporate identity: (1) Lotus Pharmaceuticals, (2) Gold Horse International, (3) China Environmental Technologies, and (4) Oriental Health Beverages.
"Our fifth partner company, the steel products enterprise, is larger than previous clients and offers Genesis a compelling opportunity for shareholder value creation. With China's unrelenting growth and construction, our steel products partner is well poised for a bright future. We shall report as this company moves through the GEP program, as we will with Gold Horse and our two other identified partner companies. We anticipate signing additional partner companies in the near future," Dr. Tan concluded.
wäre das schön, wenn der kurs heute kontinuierlich auf 0,20 euro gestiegen wäre und morgen dann auf die altbewährten 0,40 euro...
Verhindert Sarbanes-Oxley Börsengänge chinesischer Firmen in den USA?
Bob Greifeld, President und CEO der Nasdaq, ist der Meinung, dass eine Entschärfung des Sarbanes-Oxley-Gesetzes zu mehr Börsengängen chinesischer Unternehmen in den USA führen würde. Die Gesetzgebung unter Sarbanes-Oxley zur Corporate Governance steht zunehmend in der Kritik zu streng und teuer zu sein. Die Nasdaq wird außerdem eine Büro in China eröffnen, erklärte Bob Greifeld heute – allerdings ohne einen Zeitrahmen für die Durchführung des Plans zu nennen.
powered by
Wenn es so bleibt werde ich wohl morgen nochmal nachlegen. 0,20 ist definitiv eine realistisches Ziel!