hebercreeper
13 years ago
This is generally reflected early in the most recent 10-k but I don't see it shown in this case.
What I do see that makes me doubt 300 shareholders exist is the following:
CAOPU Enterprise Limited, a BVI entity (“CAOPU”), owns 86.4% of our issued and outstanding common stock. Mr. Jinliang Li, our Chairman, Chief Executive Officer and controlling stockholder, owns all of the issued and outstanding capital stock of CAOPU. CAOPU owns for the benefit and on behalf of (i) Mr. Jinliang Li, 51% of our issued and outstanding shares of our common stock, and (ii) nine (9) other stockholders, own 35.4% of our issued and outstanding shares of our common stock, which stockholders have agreed that CAOPU will hold their shares of our common stock for a period expiring 15 months from the date of the closing of a public offering of our securities. After such 15-month period, unless such 15-month period is extended by the underwriter in the offering, each minority stockholder can publicly sell its respective shares of our common stock in accordance with the any lock-up agreement that may have been entered into by each such person with the underwriter. Although Mr. Li has no pecuniary interest in the shares of our common stock owned by such 9 minority stockholders but held by CAOPU, by reason of his sole ownership of CAOPU, Mr. Li has sole voting and dispositive power over such shares of our common stock.
It's disgusting that such a small formality can wipe the little guy out. I believe that we will someday hear of someone losing it and truly disposing of a fraudster CEO.
john44
13 years ago
Conclusion and
Recommendation
China Shandong Industries, Inc. has a strong
balance sheet, experienced management, great
brand recognition and a rapidly expanding
domestic market. They also have a solid
foothold in the international furniture marketplace,
their products are marketed in highprofile
retail stores and they have a very attractive
P/E of less than 2, all of which leads us to
recommend a BUY for CSNH under $0.80
with the expectation that we could see a 2x to
3x move in the next nine to twelve months.
john44
13 years ago
Summary Balance Sheet
at June 30, 2011
(000s)
Cash 6,654
Net Current Assets 43,142
Net Current Liabilities 13,358
Current Ratio 3.23
Working Capital 29,784
Long-term Debt 0
Equity 63,155
L-T Debt to Equity Ratio 0.00%
Summary Income Statements
For Most Recent Four Quarters
3 mos. 3 mos. 3 mos.* 3 mos.
P&L Data (000s) Jun '11 Mar '11 Dec '10 Sep '10
Revenues 33,607 33,554 21,752 22,747
Gross Profit 9,865 8,510 7,710 6,284
Operating Profit 8,234 6,985 5,409 5,523
Net Income 5,718 5,242 3,872 4,008
EPS 0.13 0.12 N/A N/A
Avg Wtd
Diluted Shares 44,060,840 44,056,765 N/A N/A
Margin Analysis (%)
Gross Margin 29.35% 25.36% 35.45% 27.63%
Operating Margin 24.50% 20.82% 24.87% 24.28%
Net Margin 17.01% 15.62% 17.80% 17.62%
dickmilde
13 years ago
Anyone understand this???
On December 22, 2010, pursuant to Section 242 of the General Corporation Law of the State of Delaware, the holder of a majority of the shares of common stock of China Shandong Industries, Inc. (the “Company”) approved a reverse split of such shares with a ratio of 1-for-1.5, which will become effective on January 18, 2011 (the “Reverse Split”), and the filing of the Certificate of Amendment to the Certificate of Incorporation (the “Amendment”).
On December 23, 2010, the Company filed the Amendment with the Secretary of State of the State of Delaware. Before the Reverse Split becomes effective on the OTC Bulletin Board (the “OTC BB”) on January 18, 2011, it must be approved by the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Company has commenced the process of obtaining FINRA approval. Upon the approval of the Reverse Split by FINRA, each one and half (1.5) shares of common stock outstanding prior to the Reverse Split will be converted into one (1) share of common stock, and all options, warrants, and any other similar instruments convertible into, or exchangeable or exercisable for, shares of common stock will be proportionally adjusted. To the extent any fractional shares of common stock result from the Reverse Split, the Company will round up any fraction of a share to the nearest whole share.
Now a forward 5:1 split?
On March 24, 2011, the holder of a majority of the shares of common stock of China Shandong Industries, Inc. (the “Company”) approved a forward split of such shares by a ratio of 5 for 1 (the “Forward Split”). The Company filed the certificate of amendment to its certificate of incorporation effectuating the Forward Split on March 25, 2011. The Forward Split will become effective on or about April 12, 2011.
Before the Forward Split becomes effective on the OTC Bulletin Board (the “OTC BB”), it must be approved by the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Company has commenced the process of obtaining FINRA approval. Upon the approval of the Forward Split by FINRA, each one (1) share of common stock issued and outstanding prior to the Forward Split will be converted into five (5) shares of common stock, and all options, warrants, and any other similar instruments convertible into, or exchangeable or exercisable for, shares of common stock will be proportionally adjusted.
http://sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001417192&type=&dateb=&owner=include&count=40
This puts it back under $1.00... I suppose they gave up on the uplisting?
dickmilde
14 years ago
Looks like a 1 for 1.5 reverse split today...
The share offering and split seem to assure a move to the NASDAQ.
We are offering 5,882,353 shares of our common stock.
Our common stock is currently quoted on the OTC Bulletin Board under the symbol “CSNH.” We have applied for listing of our common stock on the NASDAQ Capital Market under the symbol “CPGY.” The last reported market price of our shares of common stock on December 29, 2010 was $5.10, after giving effect to the 1 for 1.5 reverse stock split referred to herein. If the application is not approved, we will not complete this offering.
http://sec.gov/Archives/edgar/data/1417192/000114420411000136/v206976_rr-s1a.htm
10 bagger
14 years ago
CSNH.. $3.00.. Reverse Split..
ITEM 5.02. Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year
On July 1, 2010, pursuant to Section 242 of the General Corporation Law of the State of Delaware, the holder of a majority of the shares of common stock of China Shandong Industries, Inc. (the “Company”) approved a reverse split of such shares with a ratio within a range of 1-for-2 and 1-for-3 and the filing of the Certificate of Amendment to the Certificate of Incorporation (the “Amendment”) with the ratio to be determined by an executive officer of the Company. On July 30, 2010, Mr. Jinliang Li, the Chairman and Chief Executive Officer authorized the effectuation of a 1-for-2 reverse split (the “Reverse Split”).
On August 3, 2010, the Company filed the Amendment to effect the Reverse Split with the Secretary of State of the State of Delaware. Before the Reverse Split becomes effective on the OTC Bulletin Board (the “OTC BB”), it must be approved by the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Company has commenced the process of obtaining FINRA approval. Upon the approval of the Reverse Split by FINRA, each two (2) shares of common stock outstanding prior to the Reverse Split will be converted into one (1) share of common stock, and all options, warrants, and any other similar instruments convertible into, or exchangeable or exercisable for, shares of common stock will be proportionally adjusted. To the extent any fractional shares of common stock result from the Reverse Split, the Company will round up any fraction of a share to the nearest whole share.
10 bagger
14 years ago
CSNH.. $1.90
Reverse..
ITEM 5.02. Amendment to Articles of Incorporation or Bylaws; Change in Fiscal Year
On July 1, 2010, pursuant to Section 242 of the General Corporation Law of the State of Delaware, the holder of a majority of the shares of common stock of China Shandong Industries, Inc. (the “Company”) approved a reverse split of such shares with a ratio within a range of 1-for-2 and 1-for-3 and the filing of the Certificate of Amendment to the Certificate of Incorporation (the “Amendment”) with the ratio to be determined by an executive officer of the Company. On July 30, 2010, Mr. Jinliang Li, the Chairman and Chief Executive Officer authorized the effectuation of a 1-for-2 reverse split (the “Reverse Split”).
On August 3, 2010, the Company filed the Amendment to effect the Reverse Split with the Secretary of State of the State of Delaware. Before the Reverse Split becomes effective on the OTC Bulletin Board (the “OTC BB”), it must be approved by the Financial Industry Regulatory Authority, Inc. (“FINRA”). The Company has commenced the process of obtaining FINRA approval. Upon the approval of the Reverse Split by FINRA, each two (2) shares of common stock outstanding prior to the Reverse Split will be converted into one (1) share of common stock, and all options, warrants, and any other similar instruments convertible into, or exchangeable or exercisable for, shares of common stock will be proportionally adjusted. To the extent any fractional shares of common stock result from the Reverse Split, the Company will round up any fraction of a share to the nearest whole share.
Item 9.01. Financial Statement and Exhibits
Exhibits
3.1 Certificate of Amendment of Certificate of Incorporation, filed with Secretary of State of State of Delaware on August 3, 2010.