China Tracker - Details for China Agritech (CAGC)

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 China Agritech
Shares Outstanding (MRQ): 20.77 mill
New Shares / Dilution (TTM): 6.67 mill47.33%
Cash (MRQ): 45.82 mill0.00%
Account Receivables (MRQ): 62.20 mill0.00%
Account Receivables (Q/Q): + 11.00 mill  
Long-Term Debt (MRQ): NO DEBT
Revenue Growth (Q/Q): -30.29% 
Revenue Growth (Y/Y): -11.66%
Net Income Growth (Q/Q): -75.65% 
Net Income Growth (Y/Y): -65.38%
EPS Growth (Y/Y): -76.50%
Net Margin (Q/Q): 8.3% (23.7%)-15.40% 
Net Margin (Y/Y): 8.3% (21.1%)-12.80% 
EPS | P/E (2 MRQ Projection): $0.970.00 
CFPS | P/CF (2 MRQ Projection): -$1.270.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: Simon & Edward
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2010-11-10): $0.950.00 
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2005-02-03 
Uplisting to Senior Exchange: on 2009-09-21 at $6.13 (-100.00% since Uplisting)

 Business Outlook

Recent Chain of Events:
2012-06-27 -- Last SEC Filing
2012-01-16 -- CFO Resignation
2011-05-20 -- Delisting from NASDAQ
2011-04-06 -- Auditor Engagement
2011-03-14 -- Trading halted by NASDAQ
2011-03-14 -- Auditor Resignation
2010-11-13 -- Auditor Change
2010-11-10 -- Last Quarterly/Annual Report: Q3/FY2010 ended September 30, 2010

(Source: Trading China, 2012-09-30)

China Agritech today announced that the Nasdaq Hearings Panel has denied the request of the Company for continued listing and has determined to delist and suspend trading of the shares on The Nasdaq Stock Market effective at the open of business on Friday, May 20, 2011. The Company's shares are expected to subsequently trade on the OTC Market.

The Company remains committed to dispelling the allegations made against our Company. The independent investigation is proceeding under the supervision of the Special Committee. The Company expects the investigation will be completed within the next couple of months. The Company is dedicated to providing accurate and complete information to our shareholders and is focused on completing the investigation and audit process so that concerns about the Company can be properly addressed. The Company expects to be able to file the 2010 10-K within a reasonable time period after the completion of the investigation and audit process.

(Source: PR Newswire, 2011-05-20)

On March 13, 2011, the Company announced that it formed a special committee of its board in order to investigate certain allegations made by third parties with respect to the Company and certain related issues and that the Company would not be able to meet the its Form 10-K filing deadline. E&Y informed the Company that, in its view, there was a material omission of fact from the Company's press release relating to the formation of the special committee, as the press release did not specifically disclose that the independent investigation was related to issues which were identified during the performance of the Company's year end audit. E&Y further advised the Company's representatives that E&Y may resign as the Company's auditors if a revised press release was not issued. The Company, however, believed that the specific disclosure in the press release about the investigation combined with the disclosure of the indefinite delay in the 10-K filing, was a clear indication to the market that issues had arisen in connection with the annual audit which would have to be addressed.

E&Y informed the Company that the issues identified in performing their audit may, if further investigated, have adverse implications for the financial statements covering the three quarterly reports filed by the Company on Form 10-Q during 2010, and advised the Audit Committee to inform the predecessor auditors of the issues identified, so that they can assess the impact on prior financial reports.

(Source: 8-K Filing, 2011-03-18)

    see all Business Outlook notes

 Analyst Coverage (show more)
2011-02-07Brean MurrayDowngradeHoldn/a
2011-02-07Rodman & RenshawDowngradeUnder Reviewn/a

CAGC is currently followed by 2 analysts. 0 give the stock a positive rating, 1 rate it neutral and 1 give it a negative rating.

    see all Analyst Ratings

 Recent Financings
2010-04-28Priced$21.28 mill1.24 mill shares$17.12
READ: Score Cards Explained
DETAILS: Safety/Risk Model for CAGC
Current Price:  n/a
F10k Day (2006-01-27): -100.00%$8.00
2009 Close: -100.00%$13.98
2010 Close: -100.00%$12.27
2011 Close: -100.00%$1.75
High (2012-02-06): -100.00%$2.15
Low (2012-07-30): -100.00%$0.11
Market Capitalization: n/a
Total Shares: 20.77 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2010-09-30
Revenue (MRQ): 23.89 mill
Net Income (MRQ): 1.97 mill
Op. Cash Flow (MRQ): -5.86 mill
all financial data provided without warranty