China Tracker - Details for SOKO Fitness & Spa (SOKF)


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 WARNING: Form 15 filed with the SEC!
 SOKO Fitness & Spa
You have been redirected from SOKF.OB to the new ticker symbol.
Shares Outstanding (MRQ): 21.96 mill
New Shares / Dilution (TTM): 3.79 mill20.89% 
Cash (MRQ): 15.67 mill15.86% 
Account Receivables (MRQ): 0.18 mill0.19%
Account Receivables (Q/Q): -0.93 mill  
Long-Term Debt (MRQ): 1.52 mill1.54%
Revenue Growth (Q/Q): 4.70% 
Revenue Growth (Y/Y): 27.14% 
Net Income Growth (Q/Q): -6.91% 
Net Income Growth (Y/Y): 11.91% 
EPS Growth (Y/Y): -7.43%
Net Margin (Q/Q): 29.4% (33.1%)-3.70% 
Net Margin (Y/Y): 29.4% (33.5%)-4.00% 
EPS | P/E (2 MRQ Projection): $0.577.87
CFPS | P/CF (2 MRQ Projection): $1.034.39
Price/Sales (2 MRQ Projection): 2.46 
Price/Book (MRQ): 1.75 
Auditor: Friedman 
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2010-10-31): $0.607.50
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2008-04-11 

 Business Outlook

On July 27, 2011 Merger Sub acquired 90.79% of the total issued and outstanding shares of Common Stock of SOKO and completed a "short-form" merger with SOKO continuing as the surviving corporation pursuant to Section 253 of the General Corporation Law of the State of Delaware. As a result of the merger, SOKO became a wholly owned subsidiary of Queen Beauty, quotation of the Common Stock on the OTC Bulletin Board ceased and SOKO filed a Form 15 with the Securities and Exchange Commission to terminate its reporting obligations as a public company under the U.S. securities laws on July 27, 2011. Existing stockholders of the Common Stock will be notified by mail of the cancellation of their shares and their right to receive $4.50 in cash per share upon the submission of their stock certificates in accordance with proper procedures.

(Source: PR Newswire, 2011-07-27)

SOKO Fitness & Spa Group today announced that it was informed by Tong Liu, its Chairman and Chief Executive Officer, Xia Yu, its Chief Financial Officer, Bingrong Wu, its Vice President, Chunying Liu, its Director of Operating, Lei Jiang, its Director of Marketing, Guozhe Li, its Director of Investment and Development, Qinyue Sun, Su Liu, Xiangjin Yin, Guerrilla Partners, L.P., Hua-Mei 21st Century Partners, LP, IDG-ACCEL China Growth Fund II L.P., IDG-ACCEL China Investors II L.P., China Golden Leaf Equity Fund SPC, Golden Year Holdings Limited and Lucky Eagle Limited that they have entered into a contribution and subscription agreement with Queen Beauty and Wellness Group Limited (Queen Beauty), SOKO Acquisition Corporation, a Delaware corporation and wholly owned subsidiary of Queen Beauty, China Consumer Capital Fund (CCC) and Mousserena, L.P. (Mousse) pursuant to which (i) the Contributing Stockholders agreed to contribute their 90.79% of the shares of common stock, $0.001 par value per share, of SOKO (the "Common Stock") to Queen Beauty in exchange for 10,819,999 ordinary shares and 9,488,945 preferred shares of Queen Beauty, (ii) CCC, Golden Year and Mousse agreed to contribute an aggregate $9,999,994.50 in cash in exchange for 2,222,221 preferred shares of Queen Beauty and (iii) Queen Beauty agreed to contribute all of the shares of Common Stock contributed to it by the Contributing Stockholders to Merger Sub in exchange for one (1) share of common stock of Merger Sub.

As a result of these transactions, Merger Sub will acquire 90.79% of the total issued and outstanding shares of Common Stock of SOKO and Merger Sub intends to complete a "short-form" merger with SOKO continuing as the surviving corporation pursuant to Section 253 of the General Corporation Law of the State of Delaware. As a result of the merger, SOKO will become a wholly owned subsidiary of Queen Beauty. Upon completion of the merger, existing stockholders of the Common Stock will be notified by mail of the cancellation of their shares and their right to receive $4.50 in cash per share upon the submission of their stock certificates in accordance with proper procedures, quotation of the Common Stock on the OTC Bulletin Board will cease and SOKO will file a Form 15 with the Securities and Exchange Commission to terminate its reporting obligations as a public company under the U.S. securities laws.

(Source: PR Newswire, 2011-07-25)

SOKO is affirming its gross revenue guidance for fiscal year 2011, ending May 31, 2011. Revenue for the fiscal year is expected to range from $39 million to $42 million, which if achieved, would represent year-over-year growth of approximately 30-40%. SOKO expects its revenue growth to be driven by a combination of new facility openings, an increase in the number of members and clients at its existing fitness and spa facilities and an increase in average revenue per customer.

During the fourth quarter of fiscal 2011, SOKO plans to add four new facilities to its portfolio through a combination of new construction, majority acquisition and the establishment of management agreements at minority-owned facilities, bringing the total number of new facilities added in fiscal 2011 to 16. SOKO expects that capital expenditures associated with these facilities will be fully funded from cash on hand and operating cash flow.

"We believe we have built a strong foundation upon which to continue building our business throughout China. Consistent with our past practice, we plan to continue our expansion focus on strategically targeted, economically stable tier-two markets in which we can build market share and quickly establish brand equity. The execution of our growth strategy is proceeding according to plan, with 12 new facilities opened during the first nine months of fiscal 2011, and another 4 under construction or engaged in pre-opening activities. In the fourth quarter and into our fiscal 2012, we will continue to target new strategic markets and identify ways to extend our demographic and geographic footprint, increase our customer base, capture market share and continue to grow our business."

(Source: PR Newswire, 2011-04-14)

    see all Business Outlook notes

 Analyst Coverage (show more)
2011-07-26Roth CapitalDowngradeNeutral$4.50
2011-04-15Roth CapitalReiterationBuy$5.25
2011-03-01Roth CapitalInitiationBuy$6.00
2011-01-04Global HunterInitiationBuy$7.00

SOKF is currently followed by 2 analysts. 1 give the stock a positive rating, 1 rate it neutral and 0 give it a negative rating. The average price target is 5.75, which implies 27.77% upside from current price.


 Investor Presentations
2011-03-04 (HTML)   VIEW
2010-07-12 (HTML)   VIEW
2010-03-16 (HTML)   VIEW
SOKF
Retail/Consumer

COVERAGE SUSPENDED OR TERMINATED
 
READ: Score Cards Explained
SAFETY/RISK SCORE
HIGH RISK
DETAILS: Safety/Risk Model for SOKF
Current Price:  $4.50
F10k Day (2008-09-03): 462.50%$0.80
2009 Close: 66.66%$2.70
2010 Close: 11.11%$4.05
High (2011-03-04): -6.25%$4.80
Low (2011-06-02): 80.00%$2.50
Exchange: PRIVATE
Market Capitalization: 98.83 mill
Total Shares: 21.96 mill
Float: n/a
Avg Volume: n/a
Last Quarter: 2011-02-28
Revenue (MRQ): 10.28 mill
Net Income (MRQ): 3.03 mill
Op. Cash Flow (MRQ): 7.06 mill
all financial data provided without warranty