Kingtone - 300% Potential
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At 9:30 a.m. this morning, executives from Kingtone Wirelessinfo Solution Holding Ltd. (KONE) rang the opening bell for trading at the Nasdaq MarketSite in New York. There were pictures aplenty, with the requisite staged applause and deep grins, that made for such easy and welcome public relations copy for investors and the local media back home in Xi’an China.
Despite the "campaign stump speech" nature of it all, it’s a drill Nasdaq happily and willingly repeats, seemingly endlessly, day after business day. There are good reasons for that: The companies love the increased visibility and prestige and Nasdaq, which had been locked in an eternal listings war with the NYSE Euronext (NYX), a company that it was trying to buy it and that has a much more well-known bell-ringing ceremony – needs to keep them happy, proud and listed. For an annual fee that runs $37,500 on average (this doesn’t include the $25,000 or so listing fee), Nasdaq has little option but to keep the factory line of good cheer and congratulatory gestures going.
So Kingtone gets its star turn and its executives get their faces plastered in lights across Times Square. What investors are getting is an entirely different thing.
Pretty much all one needs to know about Kingtone is that its chairman, founder and largest shareholder Tao Li is the founder, chairman and largest shareholder of China Green Agriculture (CGA), a company under SEC investigation since January. CGA, a manufacturer and developer of humic acid fertilizer, is considered one of the more compelling Chinese reverse-merger absurdities in an era that has not lacked for them. (This is arguably the definitive investigative analysis of CGA and its operations; FI, for its part, raised some questions almost one year ago.) For a pro-CGA view, there are the loyalists at The Motley Fool.)
It gets worse. Kingtone shares its headquarters office with CGA and its chief financial officer, Denver-based Ying Yang, was CGA’s CFO when it released many of its most preposterous claims. Its defining economic attribute (outside of having to downsize its initial public offering from 30 million shares to 15 million shares; it didn’t work, and the stock dropped sharply in its first weeks trading) is related party transactions with CGA and the disclosure that chairman Li, who owns 48% of the stock, will spend more than 70% of his time on other, non-Kingtone matters.
A slack jaw is the only reaction to a few moments spent studying Kingtone’s financials. At bottom, we have a company that has been fully operational for about five years and is proudly claiming that its “proprietary core middleware platform” for “enterprise mobile solutions” allows it an almost 61% net income margin, despite spending only $179,000 on research and development. Microsoft’s (MSFT) management would, if these claims were remotely replicable anywhere else in the global economy, be on notice. As it is, the folks from Redmond will have to get by with spending $8.7 billion on R&D to make a 30% net margin.
(An amusing aside: The Financial Investigator reached a Nasdaq spokesman, Robert Madden, on his cell phone for comment. After learning who was asking the questions and their nature, Madden suddenly developed an inability to hear the conversation and hung up, promising to call back. He never did.)
There is, in a sense, little to be had for investigating Kingtone and its prospects since it is the slower-witted sibling of a more robust corporate flytrap. In reality, Kingtone is less a standalone economic venture than it is the thin end of a colossal marketing wedge from the U.S. in which Nasdaq sends its senior vice president in charge of new listings, Robert McCooey – accompanied by a slew of bankers and PR staff – on due diligence trips.
It’s not clear what McCooey, whose background is in running an NYSE floor brokerage, uncovers on these sorts of trips. Given McCooey’s pride of place at the opening bell ceremony for a host of Chinese reverse-merger disasters, it is doubtful that he uncovered very much, at least at China MediaExpress (CCME). (The Financial Investigator tried to ask him, but Nasdaq refused to make him available.)
McCooey, whatever else has come of his due diligence efforts, deserves a fair amount of credit for an effort that has brought at least 95 reverse-merger names to Nasdaq over recent years. Though a growing number of these companies have been halted or sunk due to their status as works of corporate fiction, their millions of dollars in both application and annual fees are real enough to Nasdaq OMX (NDAQ).
Seen this way, it becomes very understandable how Kingtone could not only get a listing but a generous helping of free publicity as well. After all, its check cleared.
Vor der Bekanntgabe der Halbjahreszahlen hatte das Management einen Umsatz zwischen 18,8 und 20,2 Mio. $ prognostiziert, also aben sie mal eben die Umsatzprognose um 60% gekappt.
NetIncome sollte laut der Prognose für das Gesamtjahr zwischen 10,2 und 11,6 Mio. $ liegen, jetzt aufeinmal nur noch zwischen 100.000 und 750.000 $, mal eben um 95 % revidiert.
Sorry...aber so arbeitet kein seriöses management..verkauft jetzt schnell, bevor in amerika die börsen öffnen (kurs akt. 0,57€)
http://www.finanznachrichten.de/...naudited-financial-results-008.htm
Based on the results of the first six months of fiscal 2011 and lower anticipated sales for the second half of fiscal year 2011, in light of increased competition, price pressure and continuing negotiations for new contracts that were expected to be signed earlier in the year, the Company is revising its previously released guidance for fiscal 2011. It now expects revenues in the range of $7.4 million and $8.8 million and net income in the range of $0.1 million and $0.75 million.
ja, die Zahlen sind schon sehr bitter und enttäuschend. Da fragt man sich schon, wie sowas passieren konnte.Können die so schlecht planen oder haben die ihr Geschäft einfach nicht im Griff?
We believe that, within the next several years, growth will accelerate as government agencies and companies will increasingly adopt mobility to increase efficiency and better manage risks."
DIes ist noch der einzig hoffnungsvolle Satz...
Zu verkaufen denk ich ist in diesem Kursbereich fast schon sinnlos, weil ob man jetzt 70, 80 oder 90% verlust hat, ist dann auch nicht mehr ganz entscheidend^^...
Ist nun die Frage wie weit es noch runter geht.Dass der Boden allmählich gefunden sei, hat man ja schon öfters gehoft!
Die brauchen jetzt einfach ein zielgerichtetes, sinnvolles und erfolgreiches Management dass den Laden wieder in die Spur bringt.
Aber der Zock ging wohl ganz einfach in die Hosen, da hat DerAktionaer einmal mehr nur eine Blase erzeugt...
Ich hoffe darauf das CGA mit 13Tage short interest rate, gleiches gelingen wird. Noch 4 Wochen bis zu den Quartalszahlen.
Hier geht zu CGA:
Wenn der wegbricht, dann gute Nacht. Wenn ein ähnlich starker dazu kommt, dann ist Weihnachten.
Komisch wie die Ahnungslosen immer wieder ihre Statements raushauen wenn es mal gerade nicht läuft.
Danach wird CGA steigen. Einfach geil, wenn man sich auf einen Konzern spezialisiert hat.
Shares Outstanding5: 1.40M
Float: 1.13M§
Aber es besteht ebenfalls eine sehr gute Chance für die Schwester CGA. Werde bei Eröffnung kaufen. Short Squeeze bei CGA ist möglich.
20160120|KONE|195020|2141|606508|Q
20160120|CGA|17709|200|22360|Q
bist Du drin geblieben?
Wenn die unter 2 fallen werde ich kaufen. Bei Kone sollte man immer einen automatischen Verkaufsauftrag setzen. Man kommt sonst nicht zum verkaufen, bei den spastischen Zuckungen, die Kursverlauf so hinlegt. Geht immer alles zu schnell
Es gibt soweit ich weiß keinen Grund für den Anstieg. Dieses spatische Zucken haben wir seit Jahren.
Die Schwester von Kone ist CGA. CGA bietet wenigstens vernünftige Zahlen, ahtte schon mal eine Divi gezahlt und hat nachweislich Erfolge. Es sind diverse chinesiche Internetseiten bekannt wo man sehen kann das dies Unternehmen real ist.
Die IR ist bei beiden Unternehmen katastrophal.