- Amended Current report filing (8-K/A)
August 13 2010 - 6:03AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON
D.C. 20549
FORM
8-K/A
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d)
OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of
Report (Date of Earliest Event Reported): August 12,
2010
CHINA
AGRITECH, INC.
Exact
name of registrant as specified in its charter)
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Delaware
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000-49608
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75-2955368
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(State
of Incorporation)
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(Commission
File No.)
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(IRS
Employer ID No.)
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Room
3F No. 11 Building, Zhonghong International Business Garden
Future
Business Center,
Chaoyang
North Road, Chaoyang District, Beijing, China 100024
(Address
of Principal Executive Offices)
Registrant’s
Telephone Number, Including Area Code:
(86)10-59621278
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Explanatory
Note
On August
12, 2010
China
Agritech, Inc. (the “Company”)
a
Delaware corporation, issued a press release which contained certain preliminary
unaudited financial results for the second fiscal quarter of 2010 and
subsequently included a copy of such release as Exhibit 99.1 of a Current Report
on Form 8-K filed on that date. The issued press release (the “First
Release”) was not final and contained several disclosures that require
correction . One August 12, 2010, the Company issued a corrective
press release (the “Corrected Release”). This Current Report on Form
8-K/A includes the Final Release as Exhibit 99.1
The table below shows the differences
between the Corrected Release and the First Release:
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Location
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First
Release Disclosure
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Corrected
Release Disclosure
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Paragraph
3
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"After
over 2 years' preparation of technology upgrades and production facility
constructions, we now the largest commercial producer of granular organic
fertilizer with a number of mature products and well established
production capacity, and we are moving full speed on market share
acquisition.”
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"After
over 2 years' preparation of technology upgrades and production facility
constructions, we are one of the largest commercial producers of granular
organic fertilizer with a number of mature products and well established
production capacity, and we are moving full speed on market share
acquisition."
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Paragraph
4 under the heading "Second Quarter 2010 Results"
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General
and administrative expenses for the second quarter of 2010 was reported as
$3.8 million.
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General
and administrative expenses for the second quarter of 2010 were $3.1
million
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Paragraph
4 under the heading "Second Quarter 2010 Results"
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Share-based
compensation for the second quarter of 2010 was reported as $1.4
million.
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Share-based
compensation for the second quarter of 2010 was $1.3
million.
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Paragraph
6 under the heading “Second Quarter 2010 Results”
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The
effective tax rate for the second quarter of 2010 was reported as
18.9%
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The
effective tax rate for the second quarter of 2010 was
19.2%.
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In
the last paragraph under the heading “Second Quarter 2010
Results”
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Non-GAAP
net income attributable to common stockholders for the second quarter of
2010, excluding the non-cash gain in the fair value of warrants, gain on
extinguishment of warrants, and share-based compensation was reported as
$7.3 million, up 30.4%.
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Non-GAAP
net income attributable to common stockholders for the second quarter of
2010, excluding the non-cash gain in the fair value of warrants, gain on
extinguishment of warrants, and share-based compensation was $7.1 million,
up 27.1%.
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In
the last paragraph under the heading “Second Quarter 2010
Results”
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Non-GAAP
diluted earnings per share for the second quarter of 2010 was reported as
$0.37.
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Non-GAAP
diluted earnings per share for the second quarter of 2010 was
$0.36.
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Item 2.02. Results of Operations and
Financial Condition.
On August
12, 2010 the Company
issued a
press release containing certain preliminary unaudited financial results for the
second fiscal quarter of 2010. A copy of the press release is
attached to this Current Report on Form 8-K as Exhibit 99.1.
As provided in General Instruction B.2
of SEC Form 8-K, such information shall not be deemed “filed” for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or otherwise subject to the liabilities of that section, and it shall not
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended, or under the Exchange Act, whether made before or after the
date hereof, except as expressly set forth by specific reference in such filing
to this Current Report on Form 8-K.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
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Exhibit
No.
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Description
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99.1
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China
Agritech, Inc. Press Release, dated August 12,
2010.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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CHINA
AGRITECH, INC.
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Date:
August 12, 2010
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/s/
Yu Chang
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Yu
Chang
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Chief
Executive Officer
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Exhibit
Index
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Exhibit
No.
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Description
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99.1
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China
Agritech, Inc. Press Release, dated August 12,
2010.
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