09-12-2012, 08:00 PM
Market value has shrunk approx 100 times from its peak price of one dollar plus
Those fund houses must have been cursing !!!
Those fund houses must have been cursing !!!
(06-12-2012, 04:10 PM)potatolover Wrote: The magnitude of bad debt might have been severely under-estimated, i.e. the real situation is several times worser than expected...
According to Edge Magazine, domestic manufacturing industries are still facing a lot of OVERCAPACITY and factory output prices have remained depressed....
Reached an all time low of $0.018 today.
All time high = $1.14 (??)
Market cap only $7mil now...
Well, there is some chance that it might recover if starch price recovers...
(15-11-2012, 02:06 PM)Curiousparty Wrote: It has debt (DBS, local banks, CB) of $770 mil.
But adding up inventory (assuming 10% margin), A/R (assuming 10% bad debt) and cash only gives 572mil.
There is a gap of $200mil RMB.
Even if all the A/Rs are collected back, does it have enough cash for next harvesting cycle. Can Essence even start the next cycle?
The BIG QUESTION MARK is the A/R. Before it can be collected back and appear as CASH on B/S, it is still considered worthless!