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[rem53]

Hier gehören nur News zum Nachschauen und zur Information rein.
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[rem53]

Allgemein:
JIANGBO PHARMAC.

WKN: A0RNJBISIN: US47737R1014

Kürzel:gny1
gny1 bei wo eingeben,schon seit Ihr richtig.

homepage:http://www.jiangbopharma.com/
Produktpalette:http://www.jiangbopharma.com/product1.php?fir_lineid=80
Pipeline:http://www.jiangbopharma.com/product2.php?fir_lineid=80

[rem53]

http://www.jiangbopharma.com/newsview.php?id=100&fir_lineid=…

Genesis Pharmaceuticals Changes its Name to Jiangbo Pharmaceuticals, Inc. to Reflect its Brand Name

LAIYANG, China, April 23 /PRNewswire-Asia-FirstCall/ -- Genesis Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: GNPH - News; the "Company"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced that it has changed its name to "Jiangbo Pharmaceuticals, Inc." ("Jiangbo").

The Company received confirmation from the Department of State of the State of Florida that the Certificate of Amendment to the Company's Amended and Restated Articles of Incorporation to effect a change of its name was filed. The Board of Directors of the Company as well as the holders of a majority of the outstanding shares of the Company's voting stock approved the name change by written consent. The Company will soon receive a new CUSIP number for its common stock, after which a new ticker symbol for the Company's shares will be assigned by the OTCBB. The Company will announce its new ticker symbol and CUSIP number as soon as it receives them.

The Company's wholly owned operating subsidiary Laiyang Jiangbo Pharmaceutical Co., Ltd., a PRC company, markets the Company's products throughout China under the brand name "Jiangbo." Part of the Company's branding strategy includes using similar packaging for its products and creating a product line of drugs which are widely known by Jiangbo's brand name and logo.

"We support Jiangbo with the idea that 'We aim high, We aim wide.' It is part of our corporate culture to provide our customers with products that will help them lead happy and healthy lives. We always strive to produce the best possible quality products and ensure our reputation while we continue to grow our Company's revenues, profits and value," said Mr. Wubo Cao, Chief Executive Officer of Jiangbo.

"We changed our corporate name to Jiangbo to align the name of our public company with the name of our products. With this change, we hope that our customers, partners and shareholders will view our products as synonymous with our Company. We want people to think of only 'Jiangbo' as we continue to improve our Company and expand our product line," concluded Mr. Cao.

[rem53]

http://www.jiangbopharma.com/newsview.php?id=101&fir_lineid=…

Jiangbo Pharma aims high as health care reform rolls out - CFO

Shanghai April 24

By Karl Zhong



Jiangbo Pharmaceuticals Inc., a U.S.-incorporated pharmaceutical company that operates primarily in China and was formerly known as Genesis Pharmaceuticals Enterprises Inc.,is well positioned to benefit from the health care reform given its sound pharmaceutical marketing network and expanded product portfolio, according to Elsa Sung, the company's chief financial officer.




In January this year, the company's wholly-owned subsidiary Laiyang Jiangbo Pharmaceutical Co. Ltd. entered into an asset transfer agreement with Hongrui Pharmaceuticals Co. Ltd. for the purchase of most of Hongrui Pharma's assets, including the production rights to 22 types of traditional Chinese medicines (TCM), at a deal price of RMB 110 million ($16.11 million).




“The acquisition has expanded our product portfolio. Two of the TCM medicines in particular, a drug to treat bone marrow inflammation and a cough suppressant, have great market potential,” Sung said.




According to Sung, the Chinese government's expansion of the new rural cooperative medical insurance program as part of the health care reform will help to promote the company's TCM sales.




Jiangbo Pharma expects to generate fast growth sales for the TCM products by leveraging on its sound marketing network, which consists of 470 full-time sales representatives and 620 part-time representatives in 30 provinces, cities and regions across China.




“Regional distributors are more familiar with the situation in their local markets. Jiangbo Pharma will benefit by working closely with these distributors, especially in the future when essential drugs [which are commonly purchased generic drugs that patients receive reimbursements for under their medical insurance] are distributed on a regional basis,” Sung said. The company recently lowered its wholesale prices in a bid to motivate regional distributors to improve sales.




While maintaining sales of its existing products and growing the market shares of new products form Jiangbo Pharma's short-term strategy, Sung said the company is looking towards merger and acquisition (M & A) deals and strengthening its research and development (R & D) efforts in the long run.




More M & A opportunities have opened up as a result of the economic downturn and the company is eyeing drug developers that hold the rights to national class one or two new drugs, the highest levels of innovation in China, according to Sung.




With regards to R & D efforts, Jiangbo Pharma put about 3.34 percent of its sales revenue towards R & D in the second half of last year, considerably higher than what many other generic drug manufacturers in China allocated to R & D. “We have been working with Shandong University and the Chinese Academy of Sciences (CAS) on new drug development, which gives us priority in commercializing the products they develop,” Sung said.




At the moment, the company has three drugs that are awaiting final approval from the State Food and Drug Administration (SFDA), including Bezoar Yijin tablets to treat inflammation, felodipine sustained-release tablets for hypertension, and Yuandu Hanbi capsules to relieve arthritis pain.




OTCBB-listed Jiangbo Pharma is also currently preparing to list on the Nasdaq within the next six to 12 months, Sung said.




Jiangbo Pharma is located in an economic development zone in Shandong Province'sLaiyang City and produces both western and TCM drugs. Its sales revenue amounted to $60.5 million in the second half of last year, up 40.2 percent from the same period of the previous year.

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http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…

Jiangbo Pharmaceuticals Reports Results for the Third Quarter of its Fiscal Year 2009
On Monday May 18, 2009, 10:49 am EDT
Buzz up! Print LAIYANG, China, May 18 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO - News; ''Jiangbo'' or the ''Company''), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced its financial results for the third quarter ended March 31, 2009 of its fiscal year 2009.


Third Quarter of Fiscal Year 2009 Highlights
-- Total revenue, which reflects newly associated expense restructuring,
was $25.7 million, compared to $28.1 million in the corresponding
quarter of 2008
-- Gross profit was $18.9 million, compared to $21.8 million in the
corresponding quarter of 2008, and gross margin was 73.4% compared to
77.4% in the corresponding quarter of 2008
-- Operating income was $13.3 million, a 53.6% increase from $8.7 million
for the three months ended March 31, 2008
-- Net income was $8.9 million, or $0.44 per fully diluted share, up from
$4.5 million, or $0.46 per fully diluted share, for the three months
ended March 31, 2008
-- Non-GAAP adjusted net income was $10.0 million, or $0.97 per weighted
average share for the three months ended March 31, 2009, up 66.5% from
non-GAAP adjusted net income of $6.0 million, or $0.61 per weighted
average number of shares, for the quarter ended March 31, 2008
-- Acquired Shandong Hongrui Pharmaceutical Factory ("Hongrui") for
approximately $11.2 million consisting of RMB58.6 million in cash
(approximately $8.6 million) and 643,651 shares of Jiangbo's common
stock amounting to approximately $2.6 million
-- Obtained the legal rights to manufacture and distribute Hongrui's 22
Traditional Chinese Medicines
-- Restructured its sales network to distribute products through 28 large
regional distributors
-- Changed the corporate name from Genesis Pharmaceuticals Enterprises,
Inc. to ''Jiangbo Pharmaceuticals, Inc.'' and its stock symbol from
''GNPH'' to ''JGBO''.
-- Launched a new website: http://www.jiangbopharma.com/" target="_blank" rel="nofollow ugc noopener">http://www.jiangbopharma.com/


''Jiangbo had strong financial performance in the third quarter of our fiscal year 2009. Significant increases in sales of Radix Isatidis Dispersible Tablets and Baobaole Chewable Tablets, both of which are Traditional Chinese Medicines, contributed to revenue and operating income growth,'' said Mr. Wubo Cao, Chairman and Chief Executive Officer of Jiangbo.

Third Quarter of Fiscal Year 2009 Results

Total revenue for the three months ended March 31, 2009 was $25.7 million, compared to $28.1 million for the three months ended March 31, 2008.

In January 2009, Jiangbo restructured its distribution and sales system to concentrate on using 28 large independent regional distributors. The independent distributors agreed to take on higher direct marketing and sales expenses if they received lower unit prices for the Company's products. The Company lowered its per unit prices for its three major products to the independent distributors. Jiangbo's new strategy is to use independent distributors for the distribution and sale of its three major products in order to gain access to their knowledge of and access to specific local markets.

The Company lowered its unit prices charged to independent distributors by an average of 26.0% for Clarithromycin Sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tablets. The decrease in revenue from lower prices for these three major products was partially offset by an increase in sales revenue from Radix Isatidis Dispersible tablets, a new product launched in December 2008, and other Traditional Chinese Medicines acquired from Hongrui in January 2009.

Sales volume for Clarithromycin Sustained-released tablets and Baobaole chewable tables was higher in the three months ended March 31, 2009 than in the three months ended March 31, 2008. Clarithromycin Sustained-released tablets, Itopride hydrochloride granules and Baobaole chewable accounted for approximately 88.6 % of the total revenue in the three months ended March 31, 2009. Sales volume for Radix Isatidis Dispersible tablets grew throughout the three months ended March 31, 2009.

Gross profit in the third quarter of fiscal year 2009 was $18.9 million, compared to $21.8 million in the prior year's corresponding period. Gross margin was 73.4%, compared to 77.4% in the prior year's corresponding period because of the impact of lower unit sale prices for the Company's three major products.

Research and development costs were $1.1 million for the three months ended March 31, 2009, compared to $1.0 million for the three months ended March 31, 2008.

Selling, general and administrative expenses were $4.5 million for the three months ended March 31, 2009, a decrease of 63.1% from $12.1 million in the three months ended March 31, 2008. Salaries, wages and related benefits decreased by 73.1% from $7.5 million for the three months ended March 31, 2008 to $2.0 million for the three months ended March 31, 2009 primarily because of the significant decrease in commissions paid to the Company's sales representatives. Overall sales commissions declined as a result of cost savings associated with the increased use of 28 independent distributors.

Income from operations was $13.3 million for the three months ended March 31, 2009, a 53.6% increase from $8.7 million for the three months ended March 31, 2008.

Other expense, comprised primarily of interest earned, interest owed and amortized debt discount, was $1.1 million compared to $2.0 million for the three months ended March 31, 2008.

Net income for the three months ended March 31, 2009 was $8.9 million, $0.44 diluted earnings per share, compared to $4.5 million, and $0.46 diluted earnings per share, for the three months ended March 31, 2008.

Excluding a loss from discontinued operations of $103,008, a gain on trading securities of $204,134, and amortization of debt discount and issuance costs related to convertible debentures of $1.2 million, non-GAAP adjusted net income for the three months ended March 31, 2008 was $10.0 million, $0.97 per share, compared to adjusted net income of $6.0 million, $0.61 per share, for the three months ended March 31, 2008.

Nine Month Operating Highlights

Total revenue for the nine month period ended March 31, 2009 was $86.2 million, up 21.0% from $71.3 million for the nine month period ended March 31, 2008.

Gross profit for the nine month period ended March 31, 2009 totaled $66.5 million, up 24.2% from $53.5 million for the nine month period ended March 31, 2008. Gross profit margin was 77.1% for the nine month period ended March 31, 2009, compared to 75.1% for the corresponding period in 2008.

Operating income for the nine month period ended March 31, 2009 totaled $32.1 million, a 45.3% increase from $22.1 million in the corresponding period in 2008. The Company's operating margin increased to 37.2% from 31.0% compared to the same period in 2008, as result of the Company's continuing efforts to reduce its expenses and control its costs.

Net income for the nine month period ended March 31, 2009 was $17.4 million, $1.27 diluted earnings per share, compared to $12.9 million, $1.14 diluted earnings per share, for the corresponding period in 2008. Total shares outstanding as of May 14, 2009 were 10,351,448.

Excluding a loss from discontinued operations of $1.7 million, a loss on trading securities of $1.3 million, and amortization of debt discount and issuance costs related to convertible debentures of $3.2 million, non-GAAP adjusted net income for the nine month period ended March 31, 2008 was $23.5 million, $2.37 per share, compared to adjusted net income of $14.8 million, $2.28 per share, for the nine month period ended March 31, 2008.

Financial Condition

As of March 31, 2009, the Company had $86.1 million in cash and restricted cash. Working capital was $85.6 million, up from $72.5 million as of June 30, 2008. Current liabilities were $27.4 million and convertible debt, net of $29.8 million discount, was $5.0 million. Shareholders' equity was $113.9 million, compared to $95.5 million as of June 30, 2008.

The Company generated $41.1 million in cash flow from operating activities in the first nine months of its fiscal year 2009, compared to $17.7 million for the first nine months of its fiscal year 2008. The Company believes that its strong cash position will sustain its future working capital needs and successfully implement its growth strategies which include the expansion of manufacturing facilities.

Recent Events

On April 23, 2009, the Company announced that it changed its corporate name from ''Genesis Pharmaceuticals Enterprises, Inc.'' to ''Jiangbo Pharmaceuticals, Inc.'' to align the name of the public company with the name of its products. Management wants to associate the brand name ''Jiangbo'' with the Company while it continues to develop its brand and corporate image, and expands its product line.

Jiangbo's stock started trading on the Over the Counter Bulletin Board under ticker symbol "JGBO" on May 12, 2009. The Company's shares ceased trading under the ticker symbol "GNPH" at the close of business on May 11, 2009. The Company's shares are identified under a new CUSIP Number: 47737 R 10 1. The Company still plans to apply to list its common stock on a senior U.S. stock exchange.

In April, the Company announced that it began marketing and selling three Traditional Chinese Medicines. They are Yi Mu Cao Gao (a motherwort herb electuary sticky syrup), Gan Mao Zhi Ke Ke Li (an antipyretic and antitussive granule), and Kang Gu Sui Yan Pian (an osteomyelitis treatment tablet). In April, Jiangbo started to produce Laiyang Pear Cough Syrup and New Compound Foliumisatidis Tablets. Laiyang Pear Cough Syrup helps relieve coughs arising from colds and other illnesses. Market feedback has shown that children like its fresh pear taste. New Compound Foliumisatidis Tablets address influenza symptoms and includes both western chemical ingredients and traditional Chinese herbs.

Sales of these five products are expected to be $2.0 million in the fourth quarter of the Company's fiscal year 2009, which ends on June 30, 2009, and an estimated $8.0 million in fiscal year 2010.

Business Outlook and Guidance

In April, the Company reaffirmed operating income guidance of $40 to $43 million for its fiscal year ending June 30, 2009, and adjusted its revenue guidance for its fiscal year ending June 30, 2009 from a range of $122 million to $130 million to a range of $111 million to $116 million. This adjustment to revenue guidance was mainly because of the Company's charging lower unit prices to the 28 independent distributors which sell and distribute the Company's three major products. The Company expects to meet or exceed its fiscal year 2009 guidance.

On April 6, 2009, China unveiled its ''Guideline of Deepening the Reform of Health Care System'' (''Guideline''), a blueprint for health care over the next decade. By 2020, the world's most populous nation plans to have a basic health care system that can provide "safe, effective, convenient and affordable" health services to urban and rural residents. The State Council announced an investment of 850 billion Yuan (US $124 billion) to implement the health care reform plan in China.

''We believe that the Chinese government's planned reforms for China's healthcare system will increase demand for Jiangbo's products because a number of Jiangbo products are used to treat common and widespread illnesses. Several of our products should be good candidates for inclusion on provincial and the national drug lists, which are used to stock clinics and hospitals. We look forward to working with the government's planned programs to help meet the needs of an increasing number of China's consumers,'' concluded Mr. Cao.

Conference Call

Jiangbo Pharmaceuticals, Inc. management will host a conference call at 9:30a.m. Eastern Time on Tuesday, May 19, 2009 to discuss financial results for the quarter ended March 31, 2009. Mr. Wubo Cao, Chairman and CEO, Mr. Haibo Xu, COO and Ms. Elsa Sung, CFO, of Jiangbo will be present for the conference call. To participate in this live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time of 9:30 a.m. Eastern Time on Tuesday, May 19, 2009: [phone]. International callers should call [phone]. The Conference Passcode is 564 145 01. Replay of the conference call will be available from Tuesday, May 19, 2009 at 11:30 a.m. Eastern for 14 days. To access the replay, call [phone]. International callers should call [phone]. The Conference Passcode is: 547 268 69.

Use of Non-GAAP Financial Information

This press release includes certain financial information, adjusted net income and adjusted fully diluted earnings per share, which are not presented in accordance with GAAP. Adjusted net income was derived by taking net income and adjusting it with a loss from discontinued operations, unrealized losses on trading securities and non-cash amortization of debt discount and debt issuance costs related to convertible securities. The Company's management believes that these non-GAAP measures provide investors with a better understanding of the Company's historical results from its core business operations. To supplement the Company's condensed consolidated financial statements presented on a GAAP basis, the Company has provided non-GAAP financial information, which is adjusted net income and adjusted earnings per share, excluding the impact of these items in this release. The non-GAAP information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP financial information provided by the Company may also differ from non-GAAP information provided by other companies. A table below provides a reconciliation of the non-GAAP financial information to the nearest GAAP measure.

About Jiangbo Pharmaceuticals, Inc.

Jiangbo Pharmaceuticals, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong province. Jiangbo is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. http://www.jiangbopharma.com

Safe Harbor Statement

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to introduce, manufacture and distribute new drugs. Actual results may differ materially from predicted results, and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's ability to obtain raw materials needed in manufacturing, the continuing employment of key employees, the failure risks inherent in testing any new drug, the possibility that regulatory approvals may be delayed or become unavailable, patent or licensing concerns that may include litigation, direct competition from other manufacturers and product obsolescence. More information about the potential factors that could affect the Company's business and financial results is included in the Company's filings, available via the United States Securities and Exchange Commission.


For more information, please contact:

Jiangbo Pharmaceuticals, Inc.
Ms. Elsa Sung, CFO
Tel: [phone]
Email: [e-mail]
Web: http://www.jiangbopharma.com

CCG Investor Relations, Inc.
Mr. Crocker Coulson, President
Tel: [phone]
Email: [e-mail]
Web: http://www.ccgirasia.com


JIANGBO PHARMACEUTICALS, INC. AND SUBSIDIARIES
(FORMERLY GENESIS PHARMACEUTICALS ENTERPRISES, INC.)
CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
(UNAUDITED)

For the Three Months Ended For the Nine Months Ended
March 31, March 31,
2009 2008 2009 2008
REVENUES:
Sales $25,725,837 $26,231,191 $85,991,330 $66,648,051
Sales-related
parties -- 1,869,092 243,943 4,611,849
TOTAL REVENUE 25,725,837 28,100,283 86,235,273 71,259,900


Cost of sales 6,853,810 5,896,113 19,705,020 16,626,461
Cost of sales -
related parties -- 441,709 54,500 1,117,918
COST OF SALES 6,853,810 6,337,822 19,759,520 17,744,379

GROSS PROFIT 18,872,027 21,762,461 66,475,753 53,515,521

RESEARCH AND
DEVELOPMENT EXPENSE 1,098,675 967,930 3,295,125 2,170,240

SELLING, GENERAL AND
ADMINISTRATIVE
EXPENSES 4,477,356 12,136,164 31,111,752 29,269,330

INCOME FROM OPERATIONS 13,295,996 8,658,367 32,068,876 22,075,951

OTHER (INCOME) EXPENSE:
Other (income)
expense, net (281,570) 1,244,892 1,062,959 1,217,385
Other (income)-
related parties (76,552) (27,415) (313,276) (80,851)
Non-operating
(income) expense 150,466 (529) (471) (232)
Interest expense,
net 1,241,843 526,509 4,143,968 925,993
Loss from
discontinued
operations 103,008 228,812 1,693,830 341,743
OTHER EXPENSE, NET 1,137,195 1,972,269 6,587,010 2,404,038

INCOME BEFORE PROVISION
FOR INCOME TAXES 12,158,801 6,686,098 25,481,866 19,671,913

PROVISION FOR INCOME
TAXES 3,302,953 2,211,265 8,093,320 6,808,625

NET INCOME $8,855,848 $4,474,833 $17,388,546 $12,863,288

OTHER COMPREHENSIVE
INCOME:
Unrealized holding
(loss) gain $(200,025) $(270,351) $(2,147,642) $1,347,852
Foreign currency
translation
adjustment (201,173) 1,960,948 378,284 3,428,779

COMPREHENSIVE
INCOME $8,454,650 $6,165,430 $15,619,188 $17,639,919


BASIC WEIGHTED AVERAGE
NUMBER OF SHARES 10,277,762 9,740,129 9,937,190 6,507,435


BASIC EARNINGS PER
SHARE $0.86 $0.46 $1.75 $1.98

DILUTED WEIGHTED
AVERAGE NUMBER OF
SHARES 10,907,231 9,740,129 10,599,615 7,081,791


DILUTED EARNINGS PER
SHARE $0.44 $0.46 $1.27 $1.14



JIANGBO PHARMACEUTICALS, INC. AND SUBSIDIARIES
(FORMERLY GENESIS PHARMACEUTICALS ENTERPRISES, INC.)
CONSOLIDATED BALANCE SHEETS

A S S E T S
March 31, June 30,
2009 2008
(Unaudited)

CURRENT ASSETS:
Cash $82,338,527 $48,195,798
Restricted cash 3,713,775 7,839,785
Investments 672,682 2,055,241
Accounts receivable, net of allowance for
doubtful accounts of $525,268 and
$155,662, respectively 21,688,723 24,312,077
Accounts receivable - related parties 187,766 673,808
Inventories 3,863,947 3,906,174
Other receivables 81,784 152,469
Other receivables-related parties 317,412 --
Advances to suppliers and other assets 130,088 1,718,504
Total current assets 112,994,704 88,853,856

PLANT AND EQUIPMENT, net 14,162,421 11,225,844

OTHER ASSETS:
Restricted investments 400,050 2,481,413
Financing costs, net 1,406,717 1,916,944
Intangible assets, net 17,404,557 9,916,801
Total other assets 19,211,324 14,315,158

Total assets $146,368,449 $114,394,858

L I A B I L I T I E S A N D S H A R E H O L D E R S' E Q U I T Y

CURRENT LIABILITIES:
Accounts payable $5,523,666 $2,341,812
Short term bank loans 2,197,500 2,772,100
Notes payable 3,713,775 5,843,295
Other payables 4,074,203 3,671,703
Customer deposit 4,102,000 --
Other payables - related parties 176,666 324,972
Accrued liabilities 754,315 173,604
Liabilities assumed from reorganization 1,613,935 1,084,427
Taxes payable 5,276,690 166,433
Total current liabilities 27,432,750 16,378,346

CONVERTIBLE DEBT, net of discount $29,820,431
and $32,499,957 as of March 31, 2009 and
June 30, 2008, respectively 5,019,569 2,500,043

Total liabilities 32,452,319 18,878,389

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY:
Preferred stock Series ($0.001 par value;
20,000,000 shares authorized; none issue,
or outstanding) -- --
Common stock ($0.001 par value,
22,500,000 and 15,000,000 shares authorized,
respectively; 10,435,099 and 9,767,844
shares issued and outstanding, respectively) 10,436 9,770
Paid-in-capital 76,168,319 45,554,513
Capital contribution receivable (27,845,000) (11,000)
Retained earnings 56,390,950 39,008,403
Statutory reserves 3,253,878 3,253,878
Accumulated other comprehensive income 5,931,547 7,700,905
Total shareholders' equity 113,916,130 95,516,469
Total liabilities and shareholders' equity $146,368,449 $114,394,858



JIANGBO PHARMACEUTICALS, INC. AND SUBSIDIARIES
(FORMERLY GENESIS PHARMACEUTICALS ENTERPRISES, INC.)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

For the Nine Months Ended
March 31,
2009 2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $17,388,546 $12,863,288
Loss from discontinued operations 1,693,830 341,743
Income from continuing operations 19,082,376 13,205,031
Adjustments to reconcile net income
to cash, net of acquisition
provided by (used in) operating
activities:
Depreciation 464,094 375,456
Amortization of intangible assets 371,925 113,578
Amortization of deferred debt
issuance costs 510,227 47,583
Amortization of debt discount 2,679,526 671,296
Bad debt expense 368,840 (112,459)
Gain on sale of marketable securities (106,865) 19,819
Unrealized loss (gain) on trading
securities 1,255,522 1,150,516
Other non-cash settlement (20,000) --
Stock-based compensation 43,340 28,750
Changes in operating assets and
liabilities
Accounts receivable 2,353,566 (7,246,740)
Accounts receivable - related parties 488,646 (1,403,383)
Notes receivables -- 59,790
Inventories 205,471 27,542
Other receivables 63,170 (254,886)
Other receivables- related parties (317,303) (81,384)
Advances to suppliers and other
assets 1,602,693 (391,526)
Accounts payable 3,171,180 1,159,105
Accrued liabilities 682,145 301,290
Other payables 194,283 2,146,659
Other payables - related parties (58,580) (962,509)
Customer deposit 4,100,600 --
Liabilities assumed from
reorganization (1,164,323) (1,162,133)
Taxes payable 5,107,831 10,006,057
Net cash provided by
operating activities 41,078,364 17,697,452

CASH FLOWS FROM INVESTING ACTIVITIES:
Cash used in acquisition (8,581,970) --
Proceeds from sale of marketable
securities 167,623 605,882
Prepayment for land use right -- (8,246,830)
Cash receipt from reverse
acquisition -- 534,950
Purchase of equipment (130,814) (401,302)
Net cash used in investing
activities (8,545,161) (7,507,300)

CASH FLOWS FINANCING ACTIVITIES:
Restricted cash 4,149,305 (5,361,849)
Proceeds from sale of common stock
and options exercised -- 337,500
Proceeds from sale of treasury stock -- 1,977
Proceed from convertible debt -- 5,000,000
Payments on debt issuance costs -- (354,408)
Payments for dividend -- (10,520,000)
Proceeds from bank loans 2,196,750 3,255,360
Payments for bank loans (2,782,550) (5,425,600)
Proceed from officers -- 27,128
Proceeds from notes payable 7,009,097 10,729,040
Principal payments on notes payable (9,161,912) (5,367,191)
Net cash provided (used) in
financing activities 1,410,690 (7,678,043)

EFFECTS OF EXCHANGE RATE CHANGE IN CASH 198,836 1,324,727

INCREASE (DECREASE) IN CASH 34,142,729 3,836,836

CASH, beginning of the period 48,195,798 17,737,208

CASH, end of the period $82,338,527 $21,574,044

SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION:
Interest paid $1,130,837 $331,431
Income taxes paid $4,883,039 $3,615,867
Non-cash investing and financing
activities:
Common stock issued to acquire Hongrui $2,597,132 --



GENESIS PHARMACEUTICALS ENTERPRISES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP NET INCOME

For Three Months Ended For Nine Months Ended
March 31 March 31, March 31 March 31
2009 2008 2009 2008


Net Income 8,855,848 4,474,833 17,388,546 12,863,288
Loss from discontinued
operations 103,008 228,812 1,693,830 341,743
Unrealized loss (gain) on
trading securities, net (204,134) 1,159,409 1,255,522 1,150,516
Amortization of debt
discount and debt
issuance costs related to
convertible debentures 1,203,365 118,149 3,189,752 481,589

Adjusted Net Income 9,958,087 5,981,203 23,527,650 14,837,136

Basic Weight Average
Number of Shares 10,277,762 9,740,129 9,937,189 6,507,435

Adjusted Earnings Per
Weighted Average

[rem53]

http://theotcinvestor.com/jiangbos-restructuring-efforts-app…

Jiangbo’s Restructuring Efforts Appear to be Paying Off
By Justin • on June 8, 2009
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Jiangbo Pharmaceuticals, Inc. (JGBO) posted record earnings of $8.9 million, or $0.44 per share, while retaining a robust balance sheet last quarter. Meanwhile, the pharmaceutical company reaffirmed operating income guidance of $40 to $43 million on revenues of $122 to $130 million amid a growing Chinese pharmaceuticals industry.

Jiangbo Pharmaceuticals, Inc. (JGBO.OB: 11.20 -4.68%), a U.S.-based company developing pharmaceutical products in China, began the year with a restructuring effort that could start paying big dividends. Revenues and net income figures were lower following restructuring charges, but a sharp increase in operating income and non-GAAP adjusted net income show promise.

Jiangbo’s Effective Restructuring

In January 2009, Jiangbo restructured its distribution and sales systems to concentrate on using 28 large independent regional distributors. The independent distributors agreed to take on higher direct marketing and sales expenses if they received lower unit prices for the company’s products. The predictable result is lower revenues, but less expenses and greater income.

Jiangbo’s discounts amounted to approximately 26% during their fiscal third quarter, which led to a drop in revenues. However, expenses fell 63.1% during the same period as advertising costs were shifted to the independent distributors. As a result, operating income increased 53.6% during the period, and the strategy appeared to pay off handsomely.

Despite the positive results, some investors remained concerned over Jiangbo’s net loss. However, a closer look reveals that these losses can be attributed to discontinued operations, a gain on trading securities, and amortization of debt. When these are taken out of the equation, the company reported non-GAAP adjusted net income of $10 million, or $0.97 per share.

Jiangbo’s Robust Balance Sheet

Jiangbo has also managed to keep a robust balance sheet, with $86.1 million in cash and working capital of $85.6 million. Meanwhile, current liabilities stood at just $27.4 million with convertible debt, net of $29.8 million discount, was $5.0 million. Finally, shareholder equity ended the quarter at $113.9 million, compared to $95.5 million as of June 30, 2008.

Meanwhile, strong cash flow generation of $41.4 million during the first nine months of fiscal 2009 will sustain its future working capital needs and successfully implement its growth strategies, which include the expansion of manufacturing facilities. This reduces the risks that the company will need to raise additional debt or equity capital in the near future.

Conclusions

In April 2009, the Chinese government unveiled its “Guideline of Deepening the Reform of Health Care System” – a blueprint for health care over the next decade. By 2020, the world’s most populated nation plans to have a basic health care system that can provide “safe, effective, convenient and affordable” health care services to urban and rural residents. The State Council also announced an investment of 850 billion Yuan (US$124 billion) to implement the health care reform plan in China.

In the end, Jiangbo’s restructuring plan appears to be effective in increasing operating income and should help increase revenue growth rates down the road. Meanwhile, a strong balance sheet and cash flow generation should help it preserve and increase shareholder value over the long-term. Combined with China’s rapidly growing pharmaceutical industry, this is a stock that investors may want to investigate closely over the coming months

[Thypoon]

Search Ticker Not Updated since 6/12/2009 6/15/2009



JGBO

JIANGBO PHARMACEUTICALS INC
Daily Commentary


Our system posted a HOLD today. The previous BUY recommendation was issued on 06.09.2009 (3) days ago, when the stock price was 11.2000. Since then JGBO has gained 8.04% .



The previous SELL-IF signal is now null and void. We allowed two days for the confirmation of the bearish pattern and market denied confirmation. None of the three bearish confirmation conditions were realized.

Continue to hold the stock and wait for a new signal.

Do not bother yourself with further buying or selling as long as the HOLD tag stays. Keep away from short selling as well.

Data provided by: End of Day Data



HOLD


12.100
+0.7100 +6.23%

Candlestick Analysis
Today’s Candlestick Patterns:
White Opening Marubozu




Today a White Opening Marubozu was formed. This shows that the day opened and then the prices continued to go up all day long without coming below the opening level thus forming a long white body, however prices did not close at the high of the day and thus they created an upper shadow.
For more about this candlestick click here.






Stock Quote
Day\'s Close 12.100
Previous Close 11.390
Previous Open 10.500
Change +0.7100
% Change +6.23%
Volume 16,940
Stock Activity
Day\'s Open 11.390
Day\'s High 12.250
Day\'s Low 11.390
20-Day Close M.A. 10.719
50-Day Close M.A. 8.1568
65-Day Volume M.A. 8,167



Two-Year Signal History
Date Price Signal $100
Became
06.09.09 11.200 Buy 1,175
06.04.09 12.000 Sell 1,175
05.27.09 10.100 Buy 989
05.22.09 10.000 Sell 989
05.13.09 7.500 Buy 742
05.01.09 6.940 Sell 742
02.25.09 4.000 Buy 428
02.23.09 4.250 Sell 428
02.18.09 5.000 Buy 503
02.11.09 5.850 Sell 503
01.21.09 4.200 Buy 361
01.15.09 4.200 Sell 361
11.04.08 4.550 Buy 391
10.22.08 6.500 Sell 391
10.03.08 7.500 Buy 451
09.30.08 7.750 Sell 451
09.04.08 9.600 Buy 559
08.26.08 7.200 Sell 559
08.15.08 7.000 Buy 544
08.11.08 7.200 Sell 544
08.01.08 7.640 Buy 577
07.28.08 8.200 Sell 577
06.09.08 8.400 Buy 591
04.24.08 14.000 Sell 591
04.02.08 10.800 Buy 456
03.27.08 12.000 Sell 456
03.24.08 11.600 Buy 441
03.18.08 11.240 Sell 441
03.13.08 12.800 Buy 502
03.05.08 14.560 Sell 502
02.27.08 12.360 Buy 426
02.11.08 10.200 Sell 426
02.06.08 9.560 Buy 399
01.23.08 11.400 Sell 399
01.11.08 7.240 Buy 254
12.27.07 9.800 Sell 254
12.05.07 11.200 Buy 290
12.03.07 11.200 Sell 290
11.15.07 12.800 Buy 331
11.08.07 16.000 Sell 331
11.06.07 15.600 Buy 323
11.01.07 15.600 Sell 323
10.23.07 11.780 Buy 244
10.19.07 11.840 Sell 244
09.24.07 4.240 Buy 87
09.07.07 4.600 Sell 87
08.28.07 4.040 Buy 77
08.15.07 4.640 Sell 77
07.13.07 5.800 Buy 96
06.25.07 4.920 Sell 96
06.13.07 5.608 Buy 109
06.08.07 6.120 Sell 109
05.24.07 5.600 Buy 100

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-to-prn…

Jiangbo Pharmaceuticals to Attend the 44th China New Drugs Trade Fair in Tianjin
Company to Launch Promotional Campaign for Laiyang Pear Cough Syrup
Press Release
Source: Jiangbo Pharmaceuticals Enterprises, Inc.
On Thursday June 18, 2009, 8:00 am EDT
Buzz up! 0 Print
Companies:Jiangbo pharmaceutcl
LAIYANG, China, June 18 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals Enterprises, Inc. (OTC Bulletin Board: JGBO - News; the "Company", "Jiangbo"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today announced that it will attend the China New Drugs Trade Fair from June 26 to 28, 2009 at Tianjin Binhai International Convention & Exhibition Center, and also plans to launch a new promotional campaign for its recently acquired Laiyang Pear Cough Syrup.

Related Quotes
Symbol Price Change
JGBO.OB 10.85 -0.30


{"s" : "jgbo.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} Jiangbo plans to promote its brand at the trade fair to increase the popularity of its Traditional Chinese Medicine (TCM) products. The Company will promote the portfolio of TCM products it acquired by purchasing Hongrui Pharmaceutical Company in early 2009 to its existing customers, and speak with new potential distributors.

Laiyang City is famous for its pears. "Laiyang Pear" is a trademark for place of origin which is registered with the Chinese National Industrial and Commercial Bureau. In production by Jiangbo since April of 2009, Laiyang Pear Cough Syrup is made from Laiyang Pears and is used to relieve coughs and remove phlegm arising from colds or other ailments. The Company believes that Laiyang Pear Cough Syrup tastes much better than alternative cough syrups. The cough syrup's pear taste makes it especially popular among children.

As a leading manufacturer using Laiyang Pears in a cough syrup, Jiangbo intends to leverage its location in Laiyang and extensive sales network to become the market leader for this type of cough syrup.

"We look forward to attending the trade fair. We plan to renew old contacts, and hope to develop new relationships with distributors through which we will increase our TCM sales," said Mr. Wubo Cao, CEO of Jiangbo. "Separately, we plan to start an active promotional campaign for our Laiyang Pear Cough Syrup. The current market size for cough syrups in China is approximately RMB 5 to 10 billion annually and is rapidly growing. We currently estimate that our sales of Laiyang Pear Cough Syrup in China will reach RMB 500 million within the next five years."

About the 44th China New Drugs Trade Fair

The China New Drugs Trade Fair is a professional forum for individuals and companies interested in commercializing drugs and new pharmaceutical products in China. The event will be held June 26 to 28 at the Binhai International Convention & Exhibition Center in Tianjin, China. The trade fair plays an important role in connecting "Government, industry, academic research, funding and service." More than 70,000 professionals are expected to attend the trade fair. For more information about the China New Drugs Trade Fair, please visit http://en.newdrugschina.com .

[rem53]

http://www.thestreet.com/story/10553499/2/five-top-chinese-p…
3. You need to know what you're looking for. Like the aforementioned poison berry, picking the wrong attributes to look for in companies will lead you off the investing cliff. Ben Graham focused on the price-to-book ratio. Warren Buffett expanded this to price to earnings. Ken Fisher emphasized price to sales. Peter Lynch focused on price/earnings to growth. I use all four to evaluate stocks. Jiangbo Pharmaceuticals (JGBO.OB Quote) would be attractive on the measure of price to cash as well.

With a forward P/E between 2 and 3 and $85M in cash, Jiangbo is priced for bankruptcy at $113 million and it is nowhere close considering it has been growing both top and bottom lines at 50% annually.

[rem53]

Ich trag mal hier ein,wann die Quartale zu Ende sind,wann die Zahlen kommen sollten.
Es kann sich dann jeder selbst errechnen.
Im Faktenthread brauch man nicht solange zum Nachschauen.
Kommentare,Fragen bitte im Hauptthread schreiben.


http://www.jiangbopharma.com/others.php?fir_lineid=75&sec_li…


5. When is the next earnings release?

Jiangbo Pharmaceuticals, Inc.'s quarterly earnings reports are tentatively scheduled to be released 6 weeks following a quarter-end and 10 weeks following the year-end. All earnings releases are posted on our website.



6. What is Jiangbo Pharmaceuticals, Inc.'s fiscal year and corresponding quarter-end dates?

Our fiscal year begins on July 1st and ends on June 30. Quarter-ends are: September 30, December 31, March 31, and June 30.

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…

Jiangbo Pharmaceuticals Reaffirms Guidance for Fiscal 2009
Press Release
Source: Jiangbo Pharmaceuticals, Inc.
On Tuesday September 8, 2009, 8:00 am EDT
Buzz up! 0 Print
LAIYANG, China, Sept. 8 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO - News; the "Company", "Jiangbo"), a U.S. pharmaceutical company with its principal operations in the People's Republic of China, today reaffirmed its previously announced guidance for fiscal year 2009. The Company expects to meet or exceed its goals of $111 to $116 million in revenue and operating income of $40 to $43 million for the fiscal year ending June 30, 2009.

"We plan to report our annual results for the fiscal year 2009 by the end of this month and are pleased to reaffirm we are on track to achieve our financial goals," said Mr. Wubo Cao, Chief Executive Officer of Jiangbo. "We continue to revamp the production lines which we acquired from Hongrui earlier this year. We expect this project to be completed in May 2010, when we should be able to begin mass production of other profitable TCM products. Thus, we continue to feel confident in maintaining a healthy growth rate over the long term."

About Jiangbo Pharmaceuticals, Inc.

Jiangbo Pharmaceuticals, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong province. Jiangbo is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. http://www.jiangbopharma.com

Safe Harbor Statement

[rem53]

http://biz.yahoo.com/e/090928/jgbo.ob10-k.html

28-Sep-2009

Annual Report



ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
The following analysis of our consolidated financial condition and results of operations for the years ended June 30, 2009, 2008 and 2007, should be read in conjunction with our audited consolidated financial statements, including footnotes, and other information presented elsewhere in this annual report on Form 10-K. This discussion contains forward-looking statements that involve significant risks and uncertainties. As a result of many factors, such as those set forth under "Forward Looking Statements" and "Item 1A. Risk Factors" and elsewhere in this Form 10-K, our actual results may differ materially from those anticipated in these forward-looking statements. When used in this section, "fiscal 2009" means our fiscal year ended June 30, 2009 and "fiscal 2008" means our fiscal year ended June 30, 2008.

OVERVIEW

We were incorporated on August 15, 2001, in the State of Florida under the name Genesis Technology Group, Inc. On October 12, 2001, we consummated a merger with NewAgeCities.com, an Idaho public corporation formed in 1969. We were the surviving entity after the merger.

On October 1, 2007, we completed a share exchange transaction by and among us, Karmoya International Ltd. ("Karmoya"), a British Virgin Islands company, and Karmoya's shareholders. As a result of the share exchange transaction, Karmoya, a company which was established as a "special purpose vehicle" for the foreign capital raising activities of its Chinese subsidiaries, became our wholly-owned subsidiary and our new operating business. Karmoya was incorporated under the laws of the British Virgin Islands on July 17, 2007, and owns 100% of the capital stock of Union Well International Limited ("Union Well"), a Cayman Islands company. Karmoya conducts its business operations through Union Well's wholly-owned subsidiary, Genesis Jiangbo (Laiyang) Biotech Technology Co., Ltd. ("GJBT"). GJBT was incorporated under the laws of the People's Republic of China ("PRC") on September 16, 2007, and registered as a wholly foreign owned enterprise ("WOFE") on September 19, 2007. GJBT has entered into consulting service agreements and equity-related agreements with Laiyang Jiangbo Pharmaceutical Co., Ltd. ("Laiyang Jiangbo"), a PRC limited liability company incorporated on August 18, 2003. On October 12, 2007, the Company's corporate name was changed to Genesis Pharmaceuticals Enterprises, Inc.

As a result of the share exchange transaction, our primary operations consist of the business and operations of Karmoya and its subsidiaries, which are conducted by Laiyang Jiangbo in the PRC. Laiyang Jiangbo produces and sells western pharmaceutical products in China and focuses on developing innovative medicines to address various medical needs for patients worldwide.

On July 27, 2008, our board of directors and the majority holders of our capital stock approved a one-for-forty reverse stock split of our common stock. On August 29, 2008, we received confirmation from the Department of the State of Florida that the Articles of Amendment to the Amended and Restated Articles of Incorporation ("August 2008 Amended Articles of Incorporation") to effect a reverse stock split was duly filed and on September 3, 2008, the reverse stock split was effectuated. Following the reverse stock split, the total number of shares of our common stock outstanding was reduced from 412,986,078 shares to approximately 10,325,000 shares and the maximum number of shares of common stock that the Company is authorized to issue was also reduced from 900,000,000 to 22,500,000. The financial statements have been retroactively adjusted to reflect the reverse split. Additionally, all share representations are on a post-split basis hereinafter.

Pursuant to a Certificate of Amendment to our Amended and Restated Articles of Incorporation filed with the Department of State of the State of Florida which took effect as of April 16, 2009, our name was changed from "Genesis Pharmaceuticals Enterprises, Inc." to "Jiangbo Pharmaceuticals, Inc." (the "Corporate Name Change"). The Corporate Name Change was approved and authorized by our Board of Directors as well as our holders of a majority of the outstanding shares of voting stock by written consent.

As a result of the Corporate Name Change, our stock symbol changed to "JGBO" with the opening of trading on May 12, 2009 on the OTCBB.



--------------------------------------------------------------------------------


FINANCIAL PERFORMANCE HIGHLIGHTS:

Net Revenues

2009 2008 2007
Net Revenues (in '000) $ 117,388 $ 99,547 $ 76,194
% change year over year 17.9 % 30.7 % 55 %




Net revenues for fiscal 2009 of $117.4 million reflected an increase of 17.9% over fiscal 2008 net revenues of $99.5 million. Our net revenues experienced 30.7% growth from fiscal 2007, $ 76.2 million, to fiscal 2008, $ 99.5 million.


Gross margin

2009 2008 2007
Cost of Goods Sold (in '000) $ 27,909 $ 22,507 $ 21,162
Gross Margin 76.2 % 77.4 % 72 %




Gross margin decreased to 76.2% in 2009 compared with 77.4% in 2008 and 72% in 2007. This was primarily due to we reduced the per unit sales price as part of the effort to restructure our distribution and sales system.


SG&A

2009 2008 2007
SG&A (in '000) $ 35,316 $ 41,593 $ 25,579
Percentage of Sales 30.1 % 41.8 % 33.6 %




SG&A as a percentage of sales decreased to 30.1 % in 2009 from 41.8 % in 2008 and 33.6% in 2007, as a result of the restructuring our distribution and sales system to sell our products primarily through 28 large independent regional distributors and significantly reducing the commission paid to your sales representatives on those products.


Net income

2009 2008 2007
Net income (in '000) $ 28,880 $ 22,451 $ 22,053
net margin 24.5 % 22.6 % 28.9 %




Net margin increased to 24.5% in 2009 from 22.55% in 2008, primarily due to lower SG&A as a percentage of sales and partially offset by no tax exemption received in 2009 as compared to 2008.



--------------------------------------------------------------------------------

RESULTS OF OPERATIONS

The following table sets forth the results of our operations for the periods indicated as a percentage of total net sales: ($ in thousands)


Year Ended Year Ended Year Ended
June 30, % of June 30, % of June 30, % of
2009 Revenue 2008 Revenue 2007 Revenue
REVENUES 117,144 99.79 % 93,983 94.41 % 72,259 94.84 %

REVENUES - RELATED
PARTY 244 0.21 % 5,564 5.59 % 3,934 5.16 %

COST OF REVENUES 27,855 23.73 % 21,073 21.17 % 19,961 26.20 %

COST OF
REVENUES-RELATED
PARTIES 54 0.05 % 1,434 1.44 % 1,200 1.58 %

GROSS PROFIT 89,479 76.22 % 77,040 77.39 % 55,032 72.23 %

SELLING, GENERAL AND
ADMINISTRATIVE EXPENSES 35,315 30.08 % 41,593 41.78 % 25,579 33.57 %

RESEARCH AND
DEVELOPMENT 4,395 3.74 % 3,236 3.25 % 11,144 14.63 %

INCOME FROM OPERATIONS 49,768 42.40 % 32,211 32.36 % 18,309 24.03 %

OTHER EXPENSES(INCOME) 8,108 6.91 % 2,789 2.80 % (6,375 ) (8.37 )%

INCOME BEFORE PROVISION
FOR INCOME TAXES 41,660 35.49 % 29,422 29.56 % 24,684 32.40 %

PROVISION FOR INCOME
TAXES 12,780 10.89 % 6,971 7.00 % 2,631 3.45 %

NET INCOME 28,880 24.60 % 22,451 22.56 % 22,053 28.94 %

OTHER COMPREHENSIVE
INCOME (1,177 ) (1.00 )% 6,554 6.58 % 1,018 1.34 %

COMPREHENSIVE INCOME $ 27,703 23.60 % $ 29,005 29.14 % $ 23,071 30.28 %





Comparison of Years Ended June 30, 2009 and 2008

REVENUES. Revenues by product categories were as follows: ($ in thousands)

Year Ended June 30, Increase/ Increase/
Product 2009 2008 (Decrease) (Decrease)
Western pharmaceutical medicines $ 75,814 $ 86,401 $ (10,578 ) (12.24 )%
Chinese traditional medicines 41,574 13,145 28,429 216.27 %
TOTAL $ 117,388 $ 99,546 $ 17,842 17.92 %






--------------------------------------------------------------------------------

Our revenues include revenues from sales and revenues from sales to related party of $117.1million and $0.2 million, respectively, for the year ended June 30, 2009. During the year ended June 30, 2009, we had revenues from sales of $117.1 million as compared to revenues from sales of $94.0 million for the year ended June 30, 2008, an increase of $23.2 million or approximately 24.64%. During the year ended June 30, 2009, we had revenues from sales to related parties of $0.2 million as compared to revenues from sales to related parties of $5.6 million for the year ended June 30, 2008, a decrease of approximately 95.61%. The overall increase in total revenue was primarily attributable to the increase of sales volume of our Chinese traditional medicine Baobaole chewable tablets and the new product Radix Isatidis Disperable Tablets that was commercially launched in October 2008, partially offset by the decrease in the revenue generated from Clarithromycin Sustained-release tablets and Itopride Hydrochloride granules. In January 2009, as part of the effort to restructure our distribution and sales system to sell our products primarily through 28 large distributors and reduced, we reduced the per unit sales price by an average of 25.6% for for Clarithromycin Sustained-release tablets, Itopride Hydrochloride granules and Baobaole chewable tables. At the same, we reduced the commission paid to our sales representatives on those products to approximately 5%. The quantities sold for Clarithromycin Sustained-release tablets and Itopride Hydrochloride granules, our two largest products in 2009 were materially consistent with 2008 while the total revenue generated from the two products decreased by $12.5 million, or 14.35% The revenue generated from Baobaole chewable tables increased approximately $16.2 million or 116.48 % in 2009 compared with 2008. While we expect our sales from the Chinese traditional medicines continue to grow, our sales from the western pharmaceutical medicines will have minimal growth as both Clarithromycin Sustained-release tablets and Itopride Hydrochloride granules have entered into their maturity.

COST OF REVENUES. Our cost of revenues includes cost of sales and cost of sales to related party of $27.9 million and $0.1 million, respectively, for the year ended June 30, 2009. For the year ended June 30, 2008, cost of sales and cost of sales to related parties amounted to $21.1 million and $1.4 million, respectively. Total cost of sales for 2009 increased $5.4 million or 24.01% , from $22.5 million for the year ended June 30, 2008 to $27.9 million for the year ended June 30, 2009. Cost of sales as a percentage of net revenue for the year ended June 30, 2009 is approximately 23.78%, compared to the year ended June 30, 2008 at approximately 22.61%. The increase in cost of sales as a percentage of net revenue in fiscal 2009 was was primarily attributable to the reduction in the per unit sales price due to our distribution and sales system restructuring effort in January 2009 mentioned above. The increase in cost of sales as a percentage of net revenue in 2009 was partially offset by more sales being generated from products with higher- profit- margins, such as Baobaole chewable tablets and Radix Isatidis Dispersible Tablets and our ability to properly manage raw material purchase prices.

GROSS PROFIT. Gross profit was $89.5 million for the year ended June 30, 2009 as compared to $77.0 million for the year ended June 30, 2008, representing gross margins of approximately 76.22% and 77.39%, respectively. The decrease in the gross profit in fiscal 2009 was primarily due to the lower unit price charged as a result of sales net work restructure mentioned above and partially offset by our improved product sales mixture to generate more sales from products with higher profit margins.


SELLING, GENERAL AND ADMINISTRATIVE EXPENSES. Selling, general and
administrative expenses totaled $35.3 million for the year ended June 30, 2009,
as compared to $41.6 million for the year ended June 30, 2008, a decrease of
approximately 15.10% as summarized below ($ in thousands):

Years Ended June 30,
2009 2008
Shipping and handling $ 576 $ 365
Advertisement, marketing and promotion spending 7,572 13,695
Travel and entertainment- sales related 1,571 982
Depreciation and amortization 1,068 458
Salaries, commissions, wages and related benefits 22,228 24,614
Travel and entertainment- non sales related 274 325
Other 2,024 1,154
Total $ 35,313 $ 41,593






--------------------------------------------------------------------------------

The changes in these expenses during the year ended June 30, 2009, as compared to the corresponding period in 2008 included the following:

? Shipping and handling expenses increased by $0.2 million or approximately 57.81% for the year ended June 30, 2007 as compared to the corresponding period of fiscal 2008, primarily because there was an increase in sales volume in fiscal year 2009 and the increase in fuel costs.

? A decrease of $6.1 million or approximately 44.71% in advertising, marketing and promotional spending for the year ended June 30, 2009 was primarily due to less marketing and promotional spending and better managed advertising and promotional costs in the third and fourth quarter of 2009.

? Travel and entertainment -sales related expenses increased by $0.6 million or approximately 59.98% for the year ended June 30, 2009 as compared to the corresponding period in fiscal 2008 was primarily due to our marketing and sales travel related activities related to establishing the distribution network for the product and promoting our newly launched products in fiscal 2009.

? Depreciation and amortization increased by $0.6 million or 133.19% for the year ended June 30, 2009 as compared to the corresponding period of fiscal 2008, primarily due to additional plant and equipments and intangible assets being depreciated or amortized.

? Salaries, wages, commissions and related benefits decreased by $2.4 million or 9.69% for the year ended June 30, 2009 as compared to the corresponding period of fiscal 2008. The decrease was primarily because the significant decrease in commission paid to our sales representatives beginning in third quarter of 2009. In connection with the distribution and sales system restructuring, we reduced the commissions paid to our sales representatives to approximately 5% for the sale of our three major products which was approximately 30% of the product sales price.

? A decrease of $0.1 million or approximately 15.69% in travel and entertainment -non sales related expenses for the year ended June 30, 2009 as compared to the corresponding period of fiscal 2008 due the increase was primarily due better traveling and entertainment spending controls in fiscal year 2009.

? Other selling, general and administrative expenses, which includes professional fees, utilities, office supplies and expenses increased by $0.9 million or 75.39% for the year ended June 30, 2008 as compared to the corresponding period in fiscal 2008 primarily due to more professional fees, and other expenses related to being a publicly traded company in fiscal 2009.

RESEARCH AND DEVELOPMENT COSTS. Research and development costs, which consist fees paid to third parties for research and development related activities conducted for the Company and cost of material used and salaries paid for the development of the Company's products, totaled $4.4 million for the year ended June 30, 2009, as compared to $3.2 million for the year ended June 30, 2008, an increase of approximately $1.2 million or 35.83%. The increase in research and development expenses in fiscal 2009 was due to the expenses for the two cooperative research and development agreements with monthly payments were for the full year in 2009 as compared to three quarters in 2008 as those agreements were signed in second quarter of 2008.



--------------------------------------------------------------------------------

OTHER EXPENSES. Our other expenses consisted of loss from discontinued operations, valued added tax and various other tax exemptions from the government, financial expenses and other non-operating expenses. We had net other expense of $8.1 million for the year ended June 30, 2009 as compared to net other expense of $2.8 million for the year ended June 30, 2008, an increase of 5.1 million or 190.69%. The increase in net other expenses was primarily attributable to we did not receive any tax exemption in fiscal 2009 as compared to non-operating income of $1.4 million generated from the tax exemption received from the government, an increase of $1.5 million in debt discount amortization related to the financings in November 2007 and May 2008 and $1.4 million increase in our loss from discontinued operations in fiscal 2009.

NET INCOME. Our net income for the year ended June 30, 2009 was $28.9million as compared to $22.5 million for the year ended June 30, 2008, an increase of $6.4 million or 28.63%. The increase in net income is primarily attributable to increase in sales volume and significant decrease in selling expenses and offset by increase in other expenses as well as income tax expense as the Company did not receive any tax exemption from the government in fiscal 2009.


Comparison of Years Ended June 30, 2008 and 2007

REVENUES. Revenues by product categories were as follows: ($ in thousands)

Year Ended June 30, Increase/ Increase/
Product 2008 2007 (Decrease) (Decrease)
Western pharmaceutical medicines $ 86,401 $ 76,194 $ 10,207 13.40 %
Chinese traditional medicines 13,145 - 13,145 100.00 %
TOTAL $ 99,546 $ 76,194 $ 23,352 30.65 %




Our revenues include revenues from sales and revenues from sales to related party of $94.0 million and $5.6 million, respectively, for the year ended June 30, 2008. During the year ended June 30, 2008, we had revenues from sales of $94.0 million as compared to revenues from sales of $72.3 million for the year ended June 30, 2007, an increase of approximately 30.06%. During the year ended June 30, 2008, we had revenues from sales to related parties of $5.6 million as compared to revenues from sales to related parties of $4.0 million for the year ended June 30, 2007, an increase of approximately 41.44%. The overall increase in total revenue was primarily attributable to the increase of sales volume of our best selling products: Clarithromycin sustained-release tablets and Itopride Hydrochloride Granules; additionally, we released a new product, Baobaole chewable tablets in the second quarter of fiscal year 2008 and the product has been very popular in the market. Revenues generated from Clarithromycin sustained-release tablets increased approximately $14.6 million or 45.89 % in 2008 compared with 2007 as the product was in the introduction period in 2007 and entering its growth period in later part of 2008. Revenues generated from Itopride Hydrochloride granules increased approximately $6.3 million or 21.64 % in 2008 compared with 2007 as the product has been in its growth period since 2007 and entered into its maturity in 2008. The increase in the two products resulted primarily from our strong marketing and sales effort, and increased market demand as the two products are both approaching its maturity in later part of 2008. The increase in revenues was partially offset by a decrease in revenues of $11.1 million or 73.49 % in 2008 compared with 2007 generated from our two products, Ciprofloxacin Hydrochloride tablets and Paracetamol tablets, which are in the declining period due to significant market competition.

We anticipate our revenues generated from our two best selling products, Clarithromycin sustained-release tablets and Itopride Hydrochloride granules, will gradually stabilize in 2009 as the two products have entered into their maturity. The two products are expected to hold their current market share through 2010 as the China SFDA has slowed its process in approving new drug rights resulted in less competition in the near future market. Revenues generated from Baobaole chewable tablets are expected to grow significantly through 2009 as the product is currently in its growth stage and the market demand for the product has been very strong.



--------------------------------------------------------------------------------

COST OF REVENUES. Our cost of revenues includes cost of sales and cost of sales to related party of $21.1 million and $1.4 million, respectively, for the year ended June 30, 2008. For the year ended June 30, 2007, cost of sales and to related parties amounted to $20.0 million and $1.2 million, respectively. Total cost of sales for 2008 increased $1.3 million or 6.36%, from $21.1 million for the year ended June 30, 2007 to $22.5 million for the year ended June 30, 2008. Cost of sales as a percentage of net revenue for the year ended June 30, 2008 is approximately 22.61%, compared to the year ended June 30, 2007 at approximately 27.77%. The decrease was attributable to more sales being generated from producing of high-profit-margins products, the highly profitable new product Baobaole chewable tables, more efficient producing process, our ability to better manage raw material purchase prices and the government exemption on sales taxes and miscellaneous fees received in fiscal 2008.

GROSS PROFIT. Gross profit was $77.0 million for the year ended June 30, 2008 as compared to $55.0 million for the year ended June 30, 2007, representing gross margins of approximately 77.39% and 72.23%, respectively. The increase in our gross profits was mainly due to decrease in cost of sales as a percentage of net revenue as we better managed raw material purchase prices and our product sales mixture to generate more sales from products with higher profit margins.


SELLING, GENERAL AND ADMINISTRATIVE EXPENSES. Selling, general and
administrative expenses totaled $41.6 million for the year ended June 30, 2008,
as compared to $25.6 million for the year ended June 30, 2007, an increase of
approximately 62.56% as summarized below ($ in thousands):
Years Ended June 30,
2008 2007
Shipping and handling $ 365 $ 280
Advertisement, marketing and promotion spending 13,695 7,054
Travel and entertainment- sales related 982 564
Depreciation and amortization 458 280
Salaries, commissions, wages and related benefits 24,614 16,832
Travel and entertainment- non sales related 325 36
Other 1,154 533
Total $ 41,593 $ 25,579




The changes in these expenses during the year ended June 30, 2008, as compared to the corresponding period in 2007 included the following:

? An increase of $6.6 million or approximately 94.15% in advertising, marketing and promotional spending for the year ended June 30, 2008 was primarily due to TV commercials and magazine advertisements expenses to promote our new product- Baobaole Chewable tablets, as well as our brand name. Additionally, we also increased our marketing and promotional activities to promote our two best selling products.

? Travel and entertainment -sales related expenses increased by $0.4 million or approximately 74.14% for the year ended June 30, 2008 as compared to the corresponding period in fiscal 2007 was primarily due to our marketing and sales travel related activities related to promoting our Baobole Chewable tablets and establishing the distribution network for the product as well as promoting our two other best selling products.

? Shipping and handling expenses increased by $0.1 million or approximately 30.43% for the year ended June 30, 2008 as compared to the corresponding period of fiscal 2007, primarily because there was an increase in sales volume in fiscal year 2008.

? Depreciation and amortization increased by $0.2 million or 63.45% for the year ended June 30, 2008 as compared to the corresponding period of fiscal 2007, primarily due to additional fixed assets being depreciated.



--------------------------------------------------------------------------------

? Salaries, wages, commissions and related benefits increased by $7.8 million or 46.23% for the year ended June 30, 2008 as compared to the corresponding period of fiscal 2007. The increase was primarily due to increase in commission payments as a percentage of sales to sales representatives as well as an increase in number of employees and sales representatives as a result of expanding our distribution network from 26 provinces and regions to 30 provinces and regions in fiscal 2008.

? An increase of $0.3 million or approximately 806.12% in travel and entertainment -non sales related expenses for the year ended June 30, 2008 as compared to the corresponding period of fiscal 2007. The increase was primarily due to increase in corporate executives' and managers' entertainment and travel related to public company related activities.

? Other selling, general and administrative expenses, which includes professional fees, utilities, office supplies and expenses increased by $0.6 million or 116.37% for the year ended June 30, 2008 as compared to the corresponding period in fiscal 2008 primarily due to more professional fees, and other expenses related to being a publicly traded company in fiscal 2008.

RESEARCH AND DEVELOPMENT COSTS. Research and development costs, which consist .

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…

Jiangbo Pharmaceuticals Announces Record Fourth Quarter and Fiscal Year 2009 Results
Press Release
Source: Jiangbo Pharmaceuticals, Inc.
On Tuesday September 29, 2009, 7:34 am EDT
Buzz up! 0 Print
LAIYANG, China, Sept. 29 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO - News; "Jiangbo" or the "Company"), a pharmaceutical company with its principal operations in the People's Republic of China, today announced financial results for its fourth quarter and fiscal year ended June 30, 2009. The Company's annual report on Form 10-K was filed with the U.S. Securities Exchange Commission and is available on the Company's website.


Fourth Quarter FY 2009 Highlights:
-- Revenues increased 10.1% year-over-year to $31.2 million
-- Gross profit was $23.0 million, a 2.2% decrease from the comparable
period in 2008
-- Operating income rose 74.6% year-over-year to $17.7 million
-- Net income grew 19.9% to $11.5 million, or $0.70 per fully diluted
share
-- Non-GAAP adjusted net income was $12.1 million, or $0.81 per fully
diluted share for the three months ended June 30, 2009, up 6.9% from
non-GAAP adjusted net income of $11.3 million, or $0.94 per fully
diluted share, for the quarter ended June 30, 2008

Fiscal Year 2009 Highlights:
-- Total revenue increased 17.9% year-over-year to $117.4 million
-- Gross profit increased 16. 1% to $89.5 million, as compared to the
results in fiscal year 2008
-- Operating income rose 54.5% year-over-year to $49.8 million
-- Net income grew 28.6% to $28.9 million, as compared to the results in
fiscal year 2008
-- Non-GAAP adjusted net income was $35.6 million, or $2.46 per fully
diluted share in fiscal year of 2009, up 36.3% from non-GAAP adjusted
net income of $26.1 million, or $2.60 per fully diluted share in fiscal
year 2008
-- In July 2008, the Company received approval from China's State Food and
Drug Administration ("SFDA") to start producing and distributing Radix
Isatidis Dispersible Tablets, an herbal-based Traditional Chinese
Medicine used for viral influenza
-- In January 2009, the Company acquired all of the assets of Shandong
Hongrui Pharmaceutical Factory ("Hongrui") and obtained the legal
rights to manufacture and distribute Hongrui's 22 Traditional Chinese
Medicines
-- Beginning in January 2009, Jiangbo restructured its sales network to
distribute products through 28 large regional distributors and increase
efficiency
-- In April 2009, the Company changed its corporate name from Genesis
Pharmaceuticals Enterprises, Inc. to "Jiangbo Pharmaceuticals, Inc."
and its stock symbol from "GNPH" to "JGBO"

"We are delighted to report a strong finish to fiscal 2009, with revenues and operating income significantly exceeding our prior guidance for the year. We believe that the factors that contributed to this performance were strong sales from our new products and the successful restructuring of our sales and marketing network. With nearly $63 million in operating cash flow in FY 2009, we ended the fiscal year with over $100 million in cash. We believe that our strong cash position will provide us with significant flexibility to pursue continued organic growth and strategic acquisitions," said Mr. Wubo Cao, Chairman and CEO of Jiangbo Pharmaceuticals, Inc. "We strengthened our product line, by launching Radix Isatidis Dispersible Tablets to treat viral influenza and by adding 22 TCM products to our portfolio from our acquisition of Hongrui. We are focused on continuing to expand our portfolio of high margin drugs that address major disease categories and on continuing to build sustainable growth in revenues and profits."

Fourth Quarter Results

Total revenue increased 10.1% year-over-year to $31.2 million from $28.3 million.

In January 2009, Jiangbo restructured its distribution and sales system to concentrate on selling its major products to 28 large independent regional distributors in order to gain deeper access to local markets and reduce operating expenses. The independent distributors agreed to take on higher direct marketing and sales expenses in exchange for lower unit prices for the Company's products. As a result, the Company lowered its unit prices for Clarithromycin sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tablets by an average of 26%. The decrease in revenue from lower prices for these three major products was offset by an increase in revenue from Radix Isatidis Dispersible tablets and some of Traditional Chinese Medicines acquired from Hongrui. Radix Isatidis dispersible tablets experienced a significant increase in demand caused by H1N1 concerns in the fourth quarter.

Clarithromycin accounted for 33.6% of total sales for the quarter ended June 30, 2009, Itopride 23.5%, Baobaole 22.9%, and Radix 10.3%. Osteomyelitis Treatment Tablets accounted for 6.7% of total sales for the quarter ended June 30, 2009, with all other drugs accounting for 3.1%.

Gross profit decreased 2.2% to $23.0 million from $23.5 million in the comparable period of fiscal 2008. Gross margin was 73.8%, compared to 83.2% in the fourth quarter of 2008, due to the impact of lower unit sale prices for the Company's three major products.

Selling, general and administrative expenses decreased 65.9% to $4.2 million from $12.3 million in the same period of fiscal 2008, primarily because the Company reduced the commissions paid to its sales representatives of three major products to approximately 5% and less marketing and advertising spending in the fourth quarter of fiscal 2009.

Operating income rose 74.6% to $17.7 million, as compared to $10.1 million in the same period of fiscal 2008. Operating margin as a percentage of revenue increased 24 percentage points to 56.8% from 35.8% in the same period of fiscal 2008.

Other expenses, comprised primarily of interest expenses, amortized financing cost and debt discounts and impact from tax exemptions, was $1.5 million compared to $0.4 million for the three months ended June 30, 2008. The increase was primarily due to an approximately $1.4 million non-operating income generated from the tax exemption received from the government in the fourth quarter of fiscal 2008 which the Company did not receive the similar exemption in the fourth quarter of fiscal 2009.

As a result of the 2008 tax exemption, the provision for income taxes was $4.7 million in the fourth quarter of FY 2009, compared to $162,114 for the three months ended June 30, 2008.

Net income grew 19.9% to $11.5 million from $9.6 million in the prior year's comparable period, representing the basic earnings per share of $1.10. Diluted earnings per share for the fourth quarter of fiscal 2010 were $0.70.

Excluding the impact of a loss from discontinued operations of approximately $88,000, a unrealized gain on trading securities of $1.0 million, and amortization of debt discount and issuance costs related to convertible debentures of $1.5 million, non-GAAP adjusted net income for the fourth quarter was $12.1 million, or $1.15 per share basic, as compared to $11.3 million, or $1.15 per share basic, in the fourth quarter of fiscal 2008. Non GAAP adjusted fully diluted earnings per share were $0.81, as compared to $0.94 in the fourth quarter of fiscal 2009. (For a reconciliation of adjusted non-GAAP net income and basic and diluted earnings per share with their nearest GAAP equivalents, please see the table at the end of this press release.)

Fiscal Year 2009 Results

Total revenue for fiscal 2009 increased 17.9% to $117.4 million from $99.5 million in fiscal year 2008. Gross profit rose 16.2% to $89.5 million, as compared to $77.0 million in the prior year. Gross margin was 76.2%, compared to 77.4% last year. Operating income grew 54.5% to $49.8 million from $32.2 million in fiscal 2008. Operating margin increased 10 percentage points to 42.4% from 32.4% in the prior year. Net income increased 28.6% to $28.9 million, as compared to $22.5 million in fiscal 2008. Net margin as percentage of revenue expanded 2 percentage points to 24.6% from 22.6% in the comparable period. Fully diluted earnings per share were $0.09, compared to $1.84 in fiscal 2008. The calculation of diluted earnings per share for fiscal 2009 includes the impact of various non-cash adjustments for the amortized and unamortized debt discount and financing costs relating to the Company's sale of convertible notes in May of 2008.

Excluding the impact of a loss from discontinued operations of $1.8 million, a unrealized loss on trading securities of $0.2 million, and amortization of debt discount and issuance costs related to convertible debentures of $4.7 million, non-GAAP adjusted net income for fiscal 2009 was $35.6 million, or $3.54 per basic share, as compared to $26.1 million, or $2.85 per basic share, in fiscal 2008. Excluding the impact of non-cash adjustments including a charge of $32.5 million in unamortized debt discount and $1.9 million in unamortized financing costs, non-GAAP adjusted diluted earnings per share were $2.46 in fiscal 2009, as compared to $2.60 in fiscal 2008.

Financial Condition

As of June 30, 2009, the Company had $104.4 million in cash and an additional $7.3 million in restricted cash, as compared to $48.2 million and $7.8 million, respectively, at the end of fiscal 2008. Working capital was $99.8 million, up from $73.2 million as of June 30, 2008. Shareholder's equity was $126.1 million, as compared to $95.5 million at the end of fiscal 2008. The Company generated $62.9 million in cash flow from operating activities in fiscal 2009.

Business Outlook and Guidance

"We are very pleased with the strong sales we have received from our Radix Isatidis dispersible tablets, in part due to the threat posed by the H1N1 flu. Radix Isatidis is an herbal-based traditional Chinese medicine used to cure viral influenza, and Jiangbo is the only company in China that is able to manufacture Radix Isatidis in dispersible tablet form," said Mr. Cao. "We are also excited about the initial market reception to products acquired from Hongrui, including Kang Gu Sui Yan Pian (an osteomyelitis treatment tablet) and Laiyang Pear Cough Syrup, and we believe that these drugs have strong sales potential."

In order to expand production of these products while ensuring strict quality controls, the Company is currently in the process of renovating Hongrui's facilities, with a budget of $3.0 million to $4.0 million. It is expected that Hongrui will resume production in October for certain products lines and that all lines will be back in production by the end of December 2009. We expect Hongrui's products to contribute in the range of US$7-15 million per year to future revenues once production has been ramped up. The Company also anticipates that it will receive final SFDA approval for the production of Felodipine sustained release tablets by December 2009, which is expected to have gross margins of approximately 85%.

As a result of the factors discussed above, the Company expects to achieve revenues for fiscal 2010 in the range of $96-98 million and operating income in the range of $42-44 million. These results include the impact of the temporary suspension of production at the Hongrui facility and increased marketing expenses to support the anticipated introduction of new drugs and a higher volume of TCM product sales.

"Fiscal 2010 is expected to be a transitional year for Jiangbo as we upgrade our TCM production facility, prepare for the introduction of new drugs, and pursue additional opportunities for both organic growth and potential strategic acquisitions. Our current outlook reflects only the drugs that we have in hand today and will be subject to update as we execute strategic initiatives to expand our market position and profitability in the future. We remain very confident regarding our future growth prospects and look forward to sharing further details with our shareholders as our expansion plans reach a definitive stage," concluded Mr. Cao.

Conference Call

Jiangbo Pharmaceuticals, Inc. management will host a conference call at 9:00 a.m. Eastern Time on Tuesday, September 29, 2009 to discuss financial results for the quarter and fiscal year ended June 30, 2009. Mr. Wubo Cao, Chairman and CEO, and Ms. Elsa Sung, CFO, of Jiangbo will host the conference call. To participate in this live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: ([phone]. International callers should call [phone]. The conference passcode is 442 269 29. Replay of the conference call will be available from Tuesday, September 29, 2009 at 11:00 p.m. Eastern for 14 days. To access the replay, call [phone]. International callers should call [phone]. The conference passcode is: 829 987 55.

Use of Non-GAAP Financial Information

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…

Jiangbo Pharmaceuticals Announces First Quarter Fiscal Year 2010 Results
Press Release
Source: Jiangbo Pharmaceuticals, Inc.
On 5:38 pm EST, Tuesday November 17, 2009
Buzz up! 0 Print
Companies:Jiangbo Pharmaceutcl
LAIYANG, China, Nov. 17 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO - News; "Jiangbo" or the "Company"), a pharmaceutical company with its principal operations in the People's Republic of China, today announced its financial results for its first quarter of fiscal year 2010 ended September 30, 2009.

Related Quotes
Symbol Price Change
JGBO.OB 10.20 0.00


{"s" : "jgbo.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}
First Quarter Fiscal Year 2010 Highlights:
-- Revenues were $24.4 million
-- Gross profit was $18.1 million
-- Operating income rose 72.6% year-over-year to $12.7 million compared to
$7.3 million in the first quarter of fiscal year 2009
-- Net income was $2.0 million, or $0.18 per fully diluted share
-- Excluding non-cash expenses related to the change in fair value from
derivative liabilities of $4.8 million and the amortization of debt
discount and debt issuance costs related to convertible debentures of
$2.3 million, non-GAAP adjusted net income was $9.1 million, or $0.60
per fully diluted share for the three months ended September 30, 2009,
up 128.5% from non-GAAP adjusted net income of $4.0 million, or $0.28
per fully diluted share, for the quarter ended September 30, 2008.(*)

"Our first quarter fiscal 2010 results reflect the restructuring of our distribution and sales system, which we began in January 2009," said Mr. Wubo Cao, Chairman and Chief Executive Officer. "Although summer is usually the slowest season for our sales, we believe that we were able to still achieve strong growth in our operating income as we efficiently managed our selling and marketing expenses. We believe that our strong cash position will provide us with significant flexibility to pursue continued organic growth and strategic acquisitions."

First Quarter Results

Total revenue was $24.4 million, an 11.5% decrease compared to $27.6 million for the first quarter of 2009. While the quantities sold for Clarithromycin sustained-released tablets and Baobaole chewable tablets increased this quarter compared to the same period last year, the decrease in the total revenue was primarily attributable to the decrease of the per unit price by an average of 26% for Clarithromycin sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tablets, the Company's top three selling products, for the period ended September 30, 2009. The three products accounted for approximately 86.5% of total revenue for the quarter.

In January 2009, the Company restructured its distribution and sales system to sell its products primarily through 28 large independent regional distributors and lowered the per unit prices of the three major products to the distributors. The Company also significantly reduced the commission paid to its sales representatives on those products.

The decrease in the revenue generated from the three major products was partially offset by the increase in revenue from Radix Isatidis dispersible tablets which were first released in the second quarter of fiscal year 2009. Radix Isatidis dispersible tablets experienced a significant increase in demand caused by H1N1 concerns during the three months ended September 30, 2009.

In the first quarter of fiscal 2010, sales of traditional Chinese medicines ("TCMs") accounted for 39.2% of total revenues, compared to 26.7% for the comparable period of fiscal 2009.

Gross profit decreased 16.9% to $18.1 million from $21.8 million in the comparable period of fiscal 2009. Gross margin was 74.3%, compared to 79.1% in the first quarter of fiscal 2009, primarily due to the lower unit price charged as a result of the previously mentioned sales network restructuring.

Selling, general and administrative expenses decreased 67.5% to $4.3 million from $13.4 million in the same period of fiscal 2009, primarily because the Company significantly reduced the commissions paid to its sales representatives and better managed its marketing, advertising, and promotional spending.

Operating income rose 72.6% to $12.7 million, as compared to $7.3 million in the same period of fiscal 2009. Operating margin as a percentage of revenue increased 25 percentage points to 52.0% from 26.7% in the same period of fiscal 2009.

Other expenses were $7.4 million compared to $2.2 million for the three months ended September 30, 2008. The increase in other expenses was primarily due to non-cash expenses related to the change in fair value from derivative liabilities of $4.8 million, which the Company did not incur in the prior corresponding period, and the amortization of debt discount and debt issuance costs related to convertible debentures of $2.3 million versus $0.7 million in the prior year period.

Net income was $2.0 million, or $0.18 per fully diluted share, versus $3.1 million, or $0.32 per fully diluted share, in the same period last year. Excluding non-cash expenses related to the change in fair value from derivative liabilities of $4.8 million and the amortization of debt discount and debt issuance costs related to convertible debentures of $2.3 million, non-GAAP adjusted net income was $9.1 million, or $0.60 per fully diluted share, for the three months ended September 30, 2009, up 128.5% from non-GAAP adjusted net income of $4.0 million, or $0.28 per fully diluted share, for the quarter ended September 30, 2008.(*)


(*) See the reconciliation table at the end of this press release for a
reconciliation of net income and EPS to non-GAAP adjusted net income
and EPS.

Financial Condition

As of September 30, 2009, the Company had $122.9 million in cash and an additional $14.6 million in restricted cash, as compared to $104.4 million and $7.3 million, respectively, at the end of fiscal 2009. Working capital was $66.3 million versus $99.8 million as of June 30, 2009. Shareholder's equity was $90.2 million, as compared to $126.1 million at the end of fiscal 2009. The decrease in working capital and shareholder's equity is the result of the reclassification of the Company's derivative instruments from the equity section to the liability section of the balance sheet. The Company generated $17.9 million in cash flow from operating activities for the first quarter of fiscal 2010.

Business Outlook and Guidance

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…

Jiangbo Pharmaceuticals Obtains Renewal of GMP Certificate

Buzz up! 0 Print..Press Release Source: Jiangbo Pharmaceuticals, Inc. On Tuesday January 12, 2010, 8:00 am EST
LAIYANG, China, Jan. 12 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO) (the "Company" or "Jiangbo"), a pharmaceutical company with its principal operations in China, today announced that one of its factories in China obtained a renewal of its Good Manufacturing Practices Certificate for Pharmaceutical Products ("GMP Certificate") from the State Food and Drug Administration (SFDA) for its tablets and granules. The new certificate will be valid until November 2014. Jiangbo has another GMP certified factory to produce Traditional Chinese medicines in tablets, granules, pills, mixture, syrup, and concentrated decoction.

According to the National Medicine Administration Law of the People's Republic of China, all pharmaceutical manufacturers are required to pass an examination every five years to renew their GMP Certificates. In November 2009, the examination committee visited the Company and conducted a review of its supply chain management practices, including quality control of raw materials, its manufacturing processes, and the inspection and acceptance of its finished products.

"We are pleased to obtain the renewal of our GMP Certificate, which reinforces Jiangbo's commitment to providing the highest quality pharmaceutical products to patients," said Mr. Wubo Cao, the Company's Chief Executive Officer.

[rem53]

http://seekingalpha.com/article/182113-jiangbo-pharma-appear…

Jiangbo Pharmaceuticals, Inc. (JGBO.OB) is a small cap pharmaceutical and health supplement manufacturer and distributor in the PRC.

With an estimated $155-$160 million cash in the bank, a solid EPS growth rate, $40 million in fiscal 2010 free cash flow (according to the CFO), low debt, and a market cap of just $160 million, JGBO appears to be significantly undervalued.

In essence, the market is valuing the company at 1x its cash reserves, placing virtually zero value on the company’s strong and steadily growing operations.

Uplisting of the stock from OTC to NASDAQ has been in the works for several months and now appears imminent. Upon careful consideration of the fundamental and technical factors, we have set a price target of $26.00 for JGBO, nearly double its current price.

Factors that have kept the stock below fair value—and risks to bear in mind when evaluating JGBO—include its nearly non-existent analyst following, limited institutional holdings, typically low trading volume, and a rather murky share structure that is burdened with several million currently unexercised convertible debentures. Adoption of a new accounting treatment as of July 1, 2009 has also made EPS estimation a labyrinthine exercise which may not be fully cleared up until the debentures expire later this year and next.

On the other hand, there has been much to cheer lately. A trading shakeout in December eliminated the last of the weak hands, and although there is some upside resistance at $14.00 - $14.25, price action has been very strong over the past few weeks. There has been little selling pressure during the past few sessions even as the stock has taken a breather from its recent 40 percent run-up. Any positive news at this point, such as the announcement of the NASDAQ uplisting or an accretive acquisition, will likely push the price well beyond this level.
Other Chinese pharmaceutical stocks that uplisted recently have experienced substantial price appreciation. These include:

• Skystar Bio-Pharmaceutical (SKBI) – Under $5.00 when it moved to Nasdaq in June, 2009; now nearly $12.00.

• China Sky One Medical (CSKI) - uplisted to AMEX in May, 2008 around $6.00; now over $22.00
• China Pharma Holdings (CPHI) - Up 100 percent since it listed on the AMEX in September 2009

A glance at JGBO’s chart reveals what may be the beginnings of the handle on a cup-and-handle formation, a highly bullish pattern. Ideally, the price will drift down modestly (4-5 percent) for another week or so on a dry-up in volume. The pivot point for purchase would be at the moment when the price moves sharply up from the handle on heavy volume.

Current Price: $13.80

52-Week Range: $3.59-$14.25

My position: Over-weighted

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…

Jiangbo Pharmaceuticals' Osteomyelitis Treatment Tablets to be Included in China's National Insurance Directory

Buzz up! 0 Print..Press Release Source: Jiangbo Pharmaceuticals, Inc. On Wednesday January 13, 2010, 8:00 am
LAIYANG, China, Jan. 13 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board: JGBO) (the "Company" or "Jiangbo"), a pharmaceutical company with its principal operations in China, today announced that its Osteomyelitis treatment tablets (Kang Gu Sui Yan Pian) has been included in the 2009 Edition of the National Basic Medical Insurance, Industrial Injury Insurance and Maternity Insurance Medicine Directory ("the Directory").

Jiangbo is the exclusive manufacturer of Osteomyelitis treatment tablets in China. This product is used to treat bone and bone marrow inflammations. It's a 100% herb-based traditional Chinese medicine. Most osteomyelitis patients currently use chemical drugs such as antibiotics for treatment which may develop drug resistance if the chemical drugs are taken over a long period of time. Chronic patients are also likely to need surgery which is a less preferable treatment for patients in China. Jiangbo's Osteomyelitis treatment tablets offer an alternative mild treatment and were clinically tested to be effective in treating long term osteomyelitis problems.

The Company has four other products which have been included in the Directory. They are Radix Isatidis Granules, Motherwort Herb Electuary (Yi Mu Cao Gao), Ciprofloxacin Hydrochloride tablets and Paracetamol tablets. Currently, the Company is producing limited quantities of these four products.

"The inclusion of Osteomyelitis treatment tablets in the 2009 Edition Directory is an important accomplishment for our Company," said Mr. Wubo Cao, the Company's Chief Executive Officer. "As its exclusive manufacture, we expect the inclusion of Osteomyelitis treatment tablets in the Directory to drive meaningful sales volume growth in future."

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http://biz.yahoo.com/e/100219/jgbo.ob10-q.html
Form 10-Q for JIANGBO PHARMACEUTICALS, INC.


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19-Feb-2010

Quarterly Report



Item 2. Management's Discussion and Analysis or Plan of Operation
The following discussion and analysis of the results of operations and financial condition of Jiangbo Pharmaceuticals, Inc. for the six months and three months ended December 31, 2009 and 2008 should be read in conjunction with Jiangbo's financial statements and the notes to those financial statements that are included elsewhere in this Quarterly Report on Form 10-Q. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under the Risk Factors, and Cautionary Notice Regarding Forward-Looking Statements in this Form 10-Q. We use words such as "anticipate," "estimate," "plan," "project," "continuing," "ongoing," "expect," "believe," "intend," "may," "will," "should," "could," and similar expressions to identify forward-looking statements.

OVERVIEW

We were incorporated on August 15, 2001, in the State of Florida under the name Genesis Technology Group, Inc. On October 12, 2001, we consummated a merger with NewAgeCities.com, an Idaho public corporation formed in 1969. We were the surviving entity after the merger. On October 12, 2007, the Company's corporate name was changed to Genesis Pharmaceuticals Enterprises, Inc.

Pursuant to a Certificate of Amendment to our Amended and Restated Articles of Incorporation filed with the State of Florida which took effect as of April 16, 2009, our name was changed from "Genesis Pharmaceuticals Enterprises, Inc." to "Jiangbo Pharmaceuticals, Inc." (the "Corporate Name Change"). The Corporate Name Change was approved and authorized by our Board of Directors as well as our holders of a majority of the outstanding shares of voting stock by written consent.

As a result of the Corporate Name Change, our stock symbol changed to "JGBO" with the opening of trading on May 12, 2009, on the OTCBB.



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On October 1, 2007, we completed a share exchange transaction by and among us, Karmoya International Ltd. ("Karmoya"), a British Virgin Islands company, and Karmoya's shareholders. As a result of the share exchange transaction, Karmoya, a company which was established as a "special purpose vehicle" for the foreign capital raising activities of its Chinese subsidiaries, became our wholly-owned subsidiary and our new operating business. Karmoya was incorporated under the laws of the British Virgin Islands on July 17, 2007, and owns 100% of the capital stock of Union Well International Limited ("Union Well"), a Cayman Islands company. Karmoya conducts its business operations through Union Well's wholly-owned subsidiary, Genesis Jiangbo (Laiyang) Biotech Technology Co., Ltd. ("GJBT"). GJBT was incorporated under the laws of the People's Republic of China ("PRC") on September 16, 2007, and registered as a wholly foreign owned enterprise ("WOFE") on September 19, 2007. GJBT has entered into consulting service agreements and equity-related agreements with Laiyang Jiangbo Pharmaceutical Co., Ltd. ("Laiyang Jiangbo"), a PRC limited liability company incorporated on August 18, 2003.


RESULTS OF OPERATIONS

Comparison of six months and three months ended December 31, 2009 and 2008

The following table sets forth the results of our operations for the periods
indicated as a percentage of total net sales ($ in thousands):

Three Months Ended Six Months Ended
December 31, December 31,

% of % of % of % of
2009 Revenue 2008 Revenue 2009 Revenue 2008 Revenue
SALES $ 18,180 100.00 % $ 32,945 100.00 % $ 42,564 100.00 % $ 60,265 99.60 %

SALES- RELATED
PARTY - - % - - % - - % 244 0.4 %

COST OF SALES 4,667 25.67 % 7,138 21.67 % 10,927 25.67 % 12,851 21.24 %

COST OF SALES-
RELATED PARTIES - - % - - % - - % 54 0.09 %

GROSS PROFIT 13,513 74.33 % 25,807 78.33 % 31,637 74.33 % 47,604 78.67 %

SELLING, GENERAL
AND ADMINISTRATIVE
EXPENSES 5,259 28.93 % 13,282 40.32 % 9,601 22.56 % 26,634 44.02 %

RESEARCH AND
DEVELOPMENT 1,106 6.08 % 1,099 3.34 % 2,206 5.18 % 2,196 3.63 %

INCOME FROM
OPERATIONS 7,147 39.31 % 11,426 34.68 % 19,830 46.59 % 18,773 31.03 %

OTHER (INCOME)
EXPENSES, NET (151 ) (0.83 )% 3,206 9.73 % 7,272 17.08 % 5,450 9.01 %

INCOME BEFORE
PROVISION FOR
INCOME TAXES 7,298 40.14 % 8,220 24.95 % 12, 558 29.50 % 13,323 22.02 %

PROVISION FOR
INCOME TAXES 1,970 10.84 % 2,820 8.56 % 5,078 11.93 % 4,790 7.92 %

NET INCOME 5,328 29.31 % 5,399 16.39 % 7,480 17.57 % 8,533 14.10 %

OTHER
COMPREHENSIVE
INCOME (LOSS) 78 (0.43 )% (136 ) (0.41 )% 253 0.33 % (1,368 ) (2.26 )%

COMPREHENSIVE
INCOME 5,406 29.74 % 5,263 15.98 % 7,733 18.17 % 7,165 11.84 %






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REVENUES. Revenues by product categories were as follows ($ in thousands):


Six Months Ended Increase/ Increase/
December 31, (Decrease) (Decrease)
Product 2009 2008
Western pharmaceutical medicines $ 27,743 $ $41,781 $ (14,038 ) (33.60 )%
Chinese traditional medicines 14,821 18,728 (3,907 ) (20.86 )%
TOTAL $ 42,564 $ 60,509 $ (17,945 ) (29.66 )%



Three Months Ended Increase/ Increase/
December 31, (Decrease) (Decrease)
Product 2009 2008
Western pharmaceutical medicines $ 12,928 $ 21,565 $ (8,637 ) (40.05 )%
Chinese traditional medicines 5,252 11,380 (6,128 ) (53.85 )%
TOTAL $ 18,180 $ 32,945 $ (14,765 ) (44.82 )%




REVENUE . During the sixmonths ended December 31, 2009, we had revenues of $42.6 million as compared to revenues of $60.5 million for the six months ended December 31, 2008, a decrease of $17.9 million or approximately 29.7%. For the three months ended December 31, 2009, we had revenues of $18.2 million as compared to revenues of $32.9 million for the three months ended December 31, 2008, a decrease of $14.8 million or 44.8%. The overall decrease in total revenue in the second quarter and first six months of fiscal year 2010 was primarily attributable to the decrease of the per unit sales price by an average of 26% for Clarithromycin Sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tables and the sales volume of our products as compared to the periods ended December 31, 2008. In January 2009, we restructured our distribution and sales system to sell our products primarily through 28 large independent regional distributors and lowered the per unit prices of the three major products to the distributors; at the same time, we significantly reduced the commission paid to our sales representatives on those products by 80% to 83%. The decrease in sales volume was primarily attributable to a loss of production time due to the Good Manufacture Practice ( "GMP") re-certification procedure and the increased market competition as a result of the newly announced National Basic Medical Insurance in China. The GMP re-certification procedure generally is performed by the Chinese SFDA every five years and it required the production needs to be stopped for the production lines under inspection. The re-certification procedure lasted for approximately six weeks at our main facility in the second quarter of fiscal year 2010. The Company subsequently passed the GMP re-certification and successfully renewed its GMP certificate in December 2009. Our major products are also facing increasing market competition from similar products included in the National Basic Medical Insurance. As our main facility has returned to its normal operation and we have reinforced our sales effort since; we expect our revenue to improve for the remainder of the year.



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COST OF SALES by product categories were as follows ($ in thousands):


Six Months Ended Increase/ Increase/
December 31, (Decrease) (Decrease)
Product 2009 2008
Western pharmaceutical medicines $ 7,278 $ 9,490 $ (2,212 ) (23.31 )%
Chinese traditional medicines 3,649 3,416 233 6.82 %
TOTAL $ 10,927 $ 12,906 $ (1,979 ) (15.33 )%



Three Months Ended Increase/ Increase/
December 31, (Decrease) (Decrease)
Product 2009 2008
Western pharmaceutical medicines $ 3,109 $ 4,951 $ (1,842 ) (37.20 )%
Chinese traditional medicines 1,558 2,187 (629 ) (28.76 )%
TOTAL $ 4,667 $ 7,138 $ (2,471 ) (34.62 )%




Cost of sales for the six months ended December 31, 2009 decreased $2.0 million or 15.3%, from $ 12.9 million for the six months ended December 31, 2008 to $10.9 million for the six months ended December 31, 2009. For the three months ended December 31, 2009, cost of sales decreased $2.5 million or 34.6%, from $7.1 million for the three months ended December 31, 2008 to $4.7 million for the three months ended December 31, 2009. The decrease in cost of sales and cost of sales - related parties was primarily due to decrease in our product quantities sold. The overall cost of sales as a percentage of net revenue for the six months ended December 31, 2009, was approximately 25.7% as compared to 21.3% for the six months ended December 31, 2008 and 25.7% as compared to 21.7% for the three months ended December 31, 2009 as compared to the three months ended December 31, 2008. The increase was primarily attributable to the decrease in the per unit price mentioned above.

GROSS PROFIT by product categories as a percentage of sales were as follows:


Six Months Ended Increase/
December 31, (Decrease)
Product 2009 2008
Western pharmaceutical medicines 73.77 % 77.29 % (3.52 )%
Chinese traditional medicines 75.38 % 81.76 % (6.38 )%

Three Months Ended Increase/
December 31, (Decrease)
Product 2009 2008
Western pharmaceutical medicines 75.95 % 77.04 % (1.09 )%
Chinese traditional medicines 70.33 % 80.78 % (10.45 )%




Gross profit was $31.6 million for the six months ended December 31, 2009, as compared to $47.6 million for the six months ended December 31, 2008, and $13.5 million for the three months ended December 31, 2009, as compared to $25.8million for the three months ended December 31, 2008, representing gross margins of approximately 74.3% and 78.7% for the six months ended December 31, 2009 and 2008, and 74.3% and 78.3% for the three months ended December 31, 2009 and 2008, respectively. The decrease in the gross profit for the period ended December 31, 2009 was primarily due to the lower unit price charged as a result of the sales network restructure mentioned above, including a reduction in the selling prices.

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

Selling, general and administrative expenses totaled $9.6 million for the six months ended December 31, 2009, as compared to $26.6 million for the six months ended December 31, 2008, a decrease of $17.0 million or approximately 63%. Selling, general and administrative expenses totaled $5.3 million for the three months ended December 31, 2009, as compared to $ 13.3 million for the three months ended December 31, 2008, a decrease of $8.0 million or approximately 57.9% as summarized below ($ in thousands):



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Three Months Ended Six Months Ended
December 31, December 31, December 31, December 31,
2009 2008 2009 2008
Advertisement, marketing and promotion $ 2,203 $ 2,606 $ 3,269 $ 5,835
Travel and entertainment - sales related 140 671 267 1,313
Salaries, wages, commissions and related 1,488 9,198 3,471 17,837
benefits
Travel and entertainment - non sales 24 48 107 130
related
Depreciation and amortization 472 151 945 302
Shipping and handling 113 130 264 252
Other 819 478 1,278 965
Total $ 5,259 $ 13,282 $ 9,601 $ 26,634




The changes in these expenses during the second quarter and first six months of fiscal year 2010, as compared to the corresponding period in 2009 included the following:

? A decrease of $0.4 million or approximately 15.5% in advertising, marketing and promotion spending for the second quarter of fiscal 2010 and a decrease of $2.6 million or 44.0% for the first six months of fiscal 2010 as compared to the corresponding period in fiscal 2009. The decrease in advertising, marketing and promotion spending was primarily due to less marketing and promotion spending and better managed advertising and promotional costs in fiscal year 2010.

? Travel and entertainment - sales related expenses decreased by $0.5 million or 79.1% for the second quarter of fiscal 2010 as compared to the corresponding period in fiscal 2009 and decreased by $1.0 million or 79.7% for the first six months of fiscal 2010 as compared to the corresponding period in fiscal 2009. As a result of the distribution system restructuring, we rely more on the distributors to work with us to promote our products and the traveling and entertainment activities incurred by our sales representatives decreased accordingly.

? Salaries, wages, commissions and related benefits decreased by $7.7million or 83.8% during the second quarter of fiscal 2010 and decreased by $14.4 million or 80.5% during the first six months of fiscal 2010 as compared to the corresponding period of fiscal 2009. The decrease in the period ended December 31, 2009 was primarily due to the significant decrease in commissions paid to our sales representatives. In connection with the sales restructuring in January 2009,we significantly reduced the commission paid to our sales representatives on the top three selling products by 80% to 83%

? Travel and entertainment - non sales related expenses decreased slightly for the second quarter of fiscal 2010 and the first six months of fiscal 2010 as compared to prior year corresponding period was primarily due to better expense spending controls in fiscal 2009.

? Depreciation and amortization increased by $0.3 million or 212.6% during the second quarter of fiscal 2010 and increased by $0.6 million or 212.9% during the first six months of fiscal 2010 as compared to the corresponding period of fiscal 2009, primarily due to intangible assets acquired through Hongrui acquisition in February 2009 which started being amortized since then.

? For the six months ended December 31, 2009 and 2008 and for the three months ended December 2009 and 2008, shipping and handling expenses remained materially consistent.

? Other selling, general and administrative expenses, which include professional fees, utilities, office supplies and expenses increased by $0.3 million or 71.3% for the second quarter of fiscal 2010 and increased by $ 0.3 million or 32.4% for the first six months of fiscal 2010 as compared to the corresponding period in fiscal 2009 primarily due to increased bad debt expenses.



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RESEARCH AND DEVELOPMENT COSTS. Research and development costs, which consist of fees paid to third parties for research and development related activities conducted for the Company and cost of materials used and salaries paid for the development of the Company's products, totaled $ 2.2 million for the six months ended December 31, 2009, materially consistent with the six months ended December 31, 2008. Research and development costs totaled $1.1 million for the three months ended December 31, 2009, materially consistent with the three months ended December 31, 2008. Research and development expenses mainly related two R&D cooperative agreements which obligated us to make monthly payments to the designated university/institute research and development projects, plus expenses incurred.

OTHER (INCOME) EXPENSES. Our other expenses consisted of financial expenses, change in fair value of derivative liabilities and other non-operating expenses (income). We had other expenses of $7.3 million for the six months ended December 31, 2009 as compared to other expenses $5.4 million for the six months ended December 31, 2008, an increase of $1.8 million or approximately 33.4%. For the three months ended December 31, 2009, we had other income of $0.2 million as compared to $3.2 million of other expense for the three months ended December 31, 2008, a decrease of $3.4 million in expense or 106%. The increase in other expense for the six months ended December 31, 2009 was primarily due to the increase in the debt discount amortization expense and financing cost amortization related to our financing in November 2007 and May 2008 of $6.0 million, and offset by the gain in change of fair value of derivative liabilities of $1.9 million, decrease in realized and unrealized loss on trading marketable securities of $1.0 million and decrease in loss from discontinued operations of $1.5 million. The decrease in other expense for the three months ended December 31, 2009 was attributed by the gain in change of fair value of derivative liabilities of $6.7 million and decrease of loss from discontinued operations of $1.5 million and offset by increase in debt discount amortization expense and financing cost amortization related to our financing in November 2007 and May 2008 of $4.6 million.

NET INCOME. Our net income for the six months ended December 31, 2009 was $7.5 million as compared to $8.5 million for the six months ended December 31, 2008, an increase of $1.0 million or 11.8%. The net income for the three months ended December 31, 2009 was $5.3 million as compared to $5.4 million for the three months ended December 31, 2008, a decrease of $0.1 million or 1.9%. For the six months ended December 31, 2009, although we had a $1.1 million or 5.7 % increase in our income from operations, the amount was offset by the significant increase of $1.8 million in other expenses. For the three months ended December 31, 2009, the decrease in net income was attributed to the decrease in the income from operations and partially offset by the significant decrease in other expense.

LIQUIDITY AND CAPITAL RESOURCES

Net cash provided by operating activities for the six months ended December 31, 2009 was $3.2 million as compared to net cash provided by operating activities of $26.4 million for the six months ended December 31, 2008. The decrease in cash provided by operating activities included the following: 1) decrease in income from continuing operations of $2.5 million 2) decrease in add-back of realized and unrealized loss on marketable securities of $1.2million and change in fair value of derivative liabilities of $1.9 million 3) decrease in change in advance to suppliers and other assets of $1.8 million 4) decrease in change in accounts payable of $3.8 million 5) decrease in change in other payable of $1.6 million and 6) decrease in change in taxes payable of $21.5 million and partially offset by 1) increase in add back of amortization of debt discount of $5.9 million 2) increase in add back of other non-cash settlement of $1.1 million 3) increase in change in other receivable of $2.3 million.

Net cash used by investing activities for the six months ended December 31, 2009 was $16.5 million was mainly attributable to purchase of land use right for future factory expansion of $17 million.

Net cash used in financing activities was $2.2 million for the six months ended December 31, 2009 was primarily attributable to change in restricted cash of $7.2 million, payments for bank loans of $2.2 million, and principal payments on notes payable of $7.3 million and offset by proceeds from notes payable of $14.5 million. Net cash provided by financing activities was $1.4 million for the six months ended December 31, 2008 and was primarily attributable to decrease in restricted cash of $1.3 million, proceeds from bank loans of $2.2 million and increase in payments on notes payable of $0.7 million, partially offset by the principal payments on short term bank loans of $2.8 million.

We reported a net decrease in cash for the six months ended December 31, 2009 of $15.4 million as compared to a net increase in cash of $28.2 million for the six months ended December 31, 2008.



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We have historically financed our operations and capital expenditures principally through private placements of debt and equity offerings, bank loans, and cash provided by operations. At December 31, 2009, the majority of our liquid assets were held in RMB denominations deposited in banks within the PRC. The PRC has strict rules for converting RMB to other currencies and for movement of funds from the PRC to other countries. Consequently, in the future, we may face difficulties in moving funds deposited within the PRC to fund working capital requirements in the U.S. The Company's management is currently evaluating the situation. Our working capital position remained materially consistement from the prior year end at $99.8 million at December 31, 2009 and June 30, 2009.

We anticipate that our working capital requirements may increase as a result of our anticipated business expansion plan, potential increases in the price of our raw materials, competition and our relationship with suppliers or customers. We believe that our existing cash, cash equivalents and cash flows from operations will be sufficient to meet our present anticipated future cash needs for at least the next 12 months. We may, however, require additional cash resources due to foreign currency exchange restrictions imposed by the PRC government, changed business conditions or other future developments, including any investments or acquisitions we may decide to pursue.

Contractual Obligations and Off-Balance Sheet Arrangements

Contractual Obligations

We have certain fixed contractual obligations and commitments that include future estimated payments. Changes in our business needs, cancellation provisions, changing interest rates, and other factors may result in actual payments differing from the estimates. We cannot provide certainty regarding the timing and amount of payments.

Off-balance Sheet Arrangements

We have not entered into any other financial guarantees or other commitments to guarantee the payment obligations of any third parties. We have not entered into any derivative contracts that are indexed to our shares and classified as shareholder's equity or that are not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. We do not have any variable interest in any unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or research and development services with us.

Risk Factors

Interest Rates. Our exposure to market risk for changes in interest rates primarily relates to our short-term investments and short-term obligations; thus, fluctuations in interest rates would not have a material impact on the fair value of these securities. At December 31, 2009, we had approximately $103.5 million in cash and cash equivalent and restricted cash . A hypothetical 2% increase or decrease in interest rates would not have a material impact on our earnings or loss, or the fair market value or cash flows of these instruments.

Foreign Exchange Rates. All of our sales are denominated in the Chinese Renminbi ("RMB"). As a result, changes in the relative values of U.S. Dollars and RMB affect our reported levels of revenues and profitability as the results are translated into U.S. Dollars for financial reporting purposes. In particular, fluctuations in currency exchange rates could have a significant impact on our financial stability due to a mismatch among various foreign currency-denominated sales and costs. Fluctuations in exchange rates between the U.S. Dollar and RMB affect our gross and net profit margins and could result in foreign exchange and operating losses.

Our exposure to foreign exchange risk primarily relates to currency gains or losses resulting from timing differences between signing of sales contracts and settling of these contracts. Furthermore, we translate monetary assets and liabilities denominated in other currencies into RMB, the functional currency of our operating business. Our results of operations and cash flows are translated at average exchange rates during the period, and assets and liabilities are translated at the unified exchange rate as quoted by the People's Bank of China . . .

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Second Quarter Highlights and Recent Events

-- Revenue was $18.2 million, a decrease of 44.8% from the corresponding
quarter ended December 31, 2008
-- Gross profit was $13.5 million, compared to $25.8 million for the
corresponding quarter ended December 31, 2008, and gross margin was
74.3%, compared to 78.3% in the a year ago quarter ended December 31,
2008
-- Operating income was $7.1 million, down 37.4% from the corresponding
quarter ended December 31, 2008
-- Net income was $5.3 million, or $0.49 per basic share, compared $5.4
million or $0.55 per basic share a year ago
-- Excluding non-cash gains related to the change in fair value from
derivative liabilities of $6.7 million and the amortization of debt
discount and debt issuance costs related to convertible debentures of
$5.8 million, non-GAAP adjusted net income was $4.4 million, or $0.29
per fully diluted share for the three months ended December 31, 2009,
compared to non-GAAP adjusted net income of $6.6 million, or $0.46 per
fully diluted share, for the quarter ended December 31, 2008(*)
-- Received renewal of Good Manufacture Practice ("GMP") certificate from
the State Food and Drug Administration ("SFDA") for its tablets and
granules
-- In January 2010, Osteomyelitis treatment tablets were included in the
2009 Edition of the National Basic Medical Insurance Directory

"Our second quarter sales volume was adversely impacted by the temporary production stoppage at our main facility related to the re-certification of our GMP certificate. In addition, we faced heightened competition associated with China's newly announced National Basic Medical Insurance plan," said Jiangbo's Chairman and CEO, Mr. Wubo Cao. "Our main facility has now returned to normal operations and we have reinforced our sales efforts. We expect sales volumes to improve in the second half of 2010. We continue our cost control efforts, which we expect to improve operational efficiency and drive organic growth, and we plan to leverage our strong cash position to bring in new drug opportunities."

Second Quarter of Fiscal Year 2010 Results

Total revenue for the three months ended December 31, 2009 was $18.2 million, a decrease of $14.8 million from $32.9 million for the three months ended December 31, 2008. The 44.8% decline was due to decreases in unit sales prices and sales volume. Unit sales prices for Clarithromycin Sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tables decreased by an average of 26% following the restructuring of the Company's distribution and sales system in January 2009. Sales volumes declined due to renewal of the Company's GMP certificate, which resulted in a six-week production stoppage at the Company's main facility. Jiangbo received its GMP renewal certificate in December 2009, which is valid for a period of five years. Additionally, the Company's major products faced increasing competition from similar products included in China's newly announced National Basic Medical Insurance.

For the three months ended December 31, 2009, Clarithromycin Sustained-released tablets and Itopride Hydrochloride granules accounted for approximately 40.2% and 30.9% of total revenue, respectively. Baobaole chewable tables accounted for 16.9% of total revenue and were down 51.5% compared to the first quarter of fiscal 2010. Baobaole faced increased competition from Jianweixiaoshi tablet and zinc additives. Radix Isatidis dispersible tablets accounted for 11.9% of total revenue.

Gross profit in the second quarter of the fiscal year 2010 was $13.5 million, a decrease of 47.6% from $25.8 million for the prior year's corresponding period. Gross margin decreased to 74.3% from 78.3% for the prior year quarter, primarily due to the previously mentioned decrease in the unit prices.

Selling, general and administrative expenses were $5.3 million for the three months ended December 31, 2009, down 60.4% from $13.3 million in the three months ended December 31, 2008. Salaries, wages and related benefits decreased to $1.5 million from $9.2 million for the corresponding quarter of fiscal 2009, primarily due to a significant decrease in commissions paid to the Company's sales representatives in connection with the sales restructuring in January 2009. Advertising, marketing and promotion spending for the second quarter of fiscal 2010 was $2.2 million, a decrease of $0.4 million compared to one year ago.

Research and development expenses totaled $1.1 million for the three months ended December 31, 2009, consistent with the three months ended December 31, 2008. The Company is obligated to make monthly payment to the designated university/institute research and development projects pursuant to two cooperative research and development agreements which were signed in fiscal 2008.

Income from operations was $7.1 million, a 37.4% decrease from $11.4 million for the three months ended December 31, 2008.

Other income was $0.2 million compared to other expense of $3.2 million for the three months ended December 31, 2008. Other income was primarily due to non-cash gains related to the change in fair value from derivative liabilities of $6.7 million, which the Company did not record in the prior corresponding period, and the amortization of debt discount and debt issuance costs related to convertible debentures of $5.8 million versus $1.2 million in the prior year period.

Net income for the three months ended December 31, 2009 was $5.3 million, compared to $5.4 million in the year ago quarter. Basic earnings per share were $0.49, compared with $0.55 per basic share a year ago. Diluted earnings per share assumes the conversion of the Company's convertible notes and is calculated by adding interest expense to and deducting the loan issuance costs and unamortized debt discount from net income. As a result, the Company recorded a loss of $1.06 per diluted share, compared to a loss of $1.87 per diluted share in the same quarter last year.

Excluding non-cash gains related to the change in fair value from derivative liabilities of $6.7 million and the amortization of debt discount and debt issuance costs related to convertible debentures of $5.8 million, non-GAAP adjusted net income was $4.4 million, or $0.29 per fully diluted share for the three months ended December 31, 2009, compared to non-GAAP adjusted net income of $6.6 million, or $0.46 per fully diluted share, for the quarter ended December 31, 2008.


(*) See the reconciliation table at the end of this press release for a
reconciliation of net income and EPS to non-GAAP adjusted net income
and EPS.

Six Month Results

Total revenue for the six month period ended December 31, 2009 was $42.6 million, down 29.7% from $60.5 million for the six month period ended December 31, 2008.

Gross profit totaled $31.6 million, down 33.5% from $47.6 million in the year ago period. Gross profit margin was 74.3% for the six month compared to 78.7% for the corresponding period in 2008. Operating income was $19.8 million, a 5.6% increase year-over-year from $18.8 million last year. Net income was $7.5 million, or $0.70 basic earnings per share, compared to $8.5 million, or $0.87 basic earnings per share, for the corresponding period in 2008. Diluted loss per share was $0.89 per share, compared to $1.61 diluted loss per share in the year ago period. Excluding non-cash gains related to the change in fair value from derivative liabilities of $1.9 million and the amortization of debt discount and debt issuance costs related to convertible debentures of $8.0 million, non-GAAP adjusted net income was $13.6 million, or $0.92 per fully diluted share for the three months ended December 31, 2009, compared to non-GAAP adjusted net income of $10.5 million, or $0.74 per fully diluted share, for the quarter ended December 31, 2008.

Financial Condition

As of December 31, 2009, the Company had $89.0 million in cash and an additional $14.5 million in restricted cash, as compared to $104.4 million and $7.3 million, respectively, at the end of fiscal 2009. The decline in cash was mainly attributable to the November 2009 purchase of land use rights for future factory expansion for $17.0 million and repayments for bank loans of $2.2 million. Working capital was $99.8 million, consistent with the level as of June 30, 2009. Shareholder's equity was $104.3 million, as compared to $126.1 million at the end of fiscal 2009. The decrease in shareholder's equity was the result of the reclassification of the Company's derivative instruments from the equity section to liability section of the balance sheet. The Company generated $3.2 million in cash flow from operating activities in the first half of fiscal 2010.

Business Outlook and Guidance

"Improving our operational efficiency, building our pipeline and strengthening our management team are expected to be our top priorities right now," said Mr. Cao. "We are already taking steps to address these challenges and look forward to providing updates on our progress."

Jiangbo's management has begun reviewing the existing marketing and sales system, including sales force compensation and incentive and effectiveness of our advertising activities. The Company is planning to take steps to reduce and eliminate operational inefficiencies and drive sales growth.

The Company recognizes the need to improve its product pipeline in order to ensure long term growth. In the past several months, the Company has been actively searching for new branded drug opportunities to license or acquire. Management expects revenues to improve in the second half of fiscal 2010. As such, the Company is maintaining its fiscal 2010 revenue guidance of $96 million to $98 million and operating income guidance of $42 million to $44 million.

Subsequent Events

On February 15, 2010, the Company entered into an agreement with one of the holders of its convertible notes, Pope Investments LLC ("Pope"), whereby Pope agreed to waive certain provisions set forth in the November 2007 and May 2008 securities purchase agreements for the Company's debentures and convertible notes, provided that the Company has made the November 2009 interest payments to the holders of the Company's November 2007 debentures and May 2008 notes on or prior to February 25, 2010. If the interest payments are not made by February 25, 2010 all rights and remedies of Pope defined in the 2007 and 2008 Securities Purchase Agreements shall remain in full force and effect as if this waiver had not been granted.

The Company also agreed that in the event that its common stock has not been listed on the NASDAQ Stock Market on or prior to April 15, 2010, it will pay to the holders of the 2007 Notes and the 2008 Notes an amount equal to the difference between the interest on such Notes previously paid for the period from June 1, 2009 to November 30, 2009.

Conference Call

Jiangbo Pharmaceuticals, Inc. management will host a conference call at 8:30 a.m. Eastern on Friday, February 26, 2010 to discuss financial results for the second quarter ended December 31, 2009 of its fiscal year 2010. The conference call will include Mr. Wubo Cao, Chairman and CEO, and Ms. Elsa Sung, CFO, of Jiangbo. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: [phone]. International callers should dial +1 (706) 758 - 5465. The Conference ID for this call is 58049438.

If you are unable to participate in the call at this time, a replay will be available for 14 days starting on Friday, February 26, 2010 at 9:30 a.m. Eastern Time. To access the replay, dial [phone], international callers dial [phone]. Conference ID is 58049438.

Use of Non-GAAP Adjusted Financial Information

This press release includes certain financial information, non-GAAP adjusted net income and non-GAAP adjusted fully diluted earnings per share, which are not presented in accordance with GAAP. Non-GAAP adjusted net income was derived by taking net income and adjusting it with non-cash gains or losses related to the change in fair value from derivative liabilities and the amortization of debt discount and debt issuance costs related to convertible debentures. The Company's management believes that these non-GAAP adjusted measures provide investors with a better understanding of the Company's historical results from its core business operations. To supplement the Company's condensed consolidated financial statements presented on a non-GAAP adjusted basis, the Company has provided non-GAAP adjusted financial information, which is non-GAAP adjusted net income and non-GAAP adjusted earnings per share, excluding the impact of these items in this press release. The non-GAAP adjusted information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP adjusted financial information provided by the Company may also differ from non-GAAP adjusted information provided by other companies. A table at the end of this press release provides a reconciliation of the non-GAAP adjusted financial information to the nearest GAAP measure.

About Jiangbo Pharmaceuticals, Inc.

Jiangbo Pharmaceuticals, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong province. Jiangbo is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. http://www.jiangbopharma.com

[rem53]

http://seekingalpha.com/article/192343-jiango-pharma-is-in-t…


Jiango Pharma Is in the Bargain Basement
by: China Player March 07, 2010 | about: JGBO.OB
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By Platinum Tiger

Jiangbo Pharmaceuticals (JGBO.OB), a stock I recommended here about two months ago, committed an investor relations gaffe in late February that has driven its stock price down to its lowest and most attractive levels in about a year. What was a blow to the momentum investors who recently bailed out is a positive boon to those seeking bargains in the bullish Chinese small cap market.

At $9.30 the stock is now priced at a market cap that is barely above the value of its $105 million in cash reserves. JGBO should be trading at a P/E multiple comparable to those of other Chinese small cap pharmaceutical companies like Huifeng (HFGB.OB) and Tianyin (TPI); if it were more fairly valued Jiangbo's share price would be in the 20's.

The trouble started with Jiangbo's February 20th announcement of its latest quarterly results. For reasons known only to management, they had previously decided to withhold from investors the information that the company's factory was shutting down for six weeks for a routine but revenue-disrupting government inspection. Apparently management didn't have sufficient time or ability to stockpile inventory beforehand or to temporarily contract out its production, so revenues took a one-time hit and EPS, though still positive, fell well below market expectations. All of this came as a great surprise to everyone, including me, when it was publicized in the 10-Q.

The news was followed by a sharp turn in market sentiment that has sent the company's shares tumbling by 21 percent in the past two weeks. By contrast, the other pharma companies we follow registered an average gain of 2 percent during the same period. For long investors like me this culminated a painful decline of nearly 50 percent from JGBO's January 20th peak of $14.50 to its March 1st trough of $7.75 (see Jiangbo's chart).

There were a few other items of concern in the 10-Q, including problems in remitting hard currency payments to U.S. investors and a two-month delay in opening a new factory in Hongrui. But the government inspection met with approval and on the whole nothing material changed about the company and its ability to continue generating cash. Indeed, the CFO reiterated that despite the inspection stoppage, the company is maintaining its fiscal 2010 revenue guidance of $96 million to $98 million and operating income guidance of $42 million to $44 million. So why did the stock take such a shellacking?

My strong belief is that Jiangbo's biggest problem, and the single most important factor behind its depressed stock price, is poor investor relations. Companies with competent, professional IR know how to spin news so that the market doesn't overreact to temporary set-backs. Jiangbo, on the other hand, seems to have perfected the art of creating financially punishing mountains out of molehills. IR has never been a proper priority for the company, as evidenced by its continuing use of Crocker Coulson, a truly mediocre investor relations representative. Listen to the February 22nd earnings conference call and let me know if you think Coulson shouldn't have been fired on the spot.

Fortunately management has indicated it will address its challenges, with the hiring of a COO as a big next step. I am treating this latest dip as a rare buying opportunity. With uplisting to the NASDAQ on the near-term horizon and with strong projected results for the rest of the year, JGBO look positively cheap at this level.

My Position: Long JGBO.
About the author: China OTC Player
China OTC Player picture
China OTC Player/Rising China Stocks, a blog run by China OTC Player and Platinum Tiger, focuses on uncovering the hidden potential in emerging Chinese stocks. They are MBAs (Stanford and Wharton) based in Los Angeles who have lived and worked in Singapore, China, Hong Kong, and other parts of... More

[rem53]

http://biz.yahoo.com/e/100318/jgbo.ob8-k.html
18-Mar-2010

Entry into a Material Definitive Agreement, Change in Directors or


Item 1.01 Entry into a material Definitive Agreement.

On October 27, 2009, Laiyang Jiangbo Pharmaceuticals, Co., Ltd., a PRC entity ("Laiyang Jiangbo") that Jiangbo Pharmaceuticals, Inc. (the "Company") operates, controls and beneficially owns the pharmaceutical business of, entered into a Contract for Transfer of State-Owned Construction Land Use Right (the "Contract") with the Land and Resources Bureau of Laiyang City (the "Transferor") pursuant to which the Transferor transferred the right to use a 385,800 square meter parcel of useful life of state-owned construction land to Laiyang Jiangbo for a period of 50-years starting from the date of the execution of the Contract. The Contract may be renewed after its initial 50 year term by mutual consent of the parties.

The Contract provides that the purpose of the land use by Laiyang Jiangbo shall be for industrial and warehouse construction projects. The Contract further provides that Laiyang Jiangbo's total investment in such projects, which shall include buildings, structures and attached facilities, equipment investment and transfer price payment shall be no less than RMB 868,200,000 (approximately US$127,365,000 ) and the investment intensity shall be no less than RMB3,000 per square meter. Pursuant to the Contract, Laiyang Jiangbo is required to commence construction on the land prior to June 30, 2010 and construction is required to be completed prior to June 29, 2012. If Laiyang Jiangbo is not able to commence construction on the designated start date, it may apply to defer the construction by no later than 30 days in advance of such date. If approval of a deferral of the construction start date is obtained, the construction completion date shall also be deferred accordingly. The deferral period shall be no longer than one year. The Contract provides that Laiyang Jiangbo shall be subject to certain penalties in the event that its use of the land does not comply with the terms of the Contract, including a penalty for allowing the land to remain idle.

Pursuant to the terms of the Contract, the transfer price for the state-owned construction land use right was RMB115,764,000 (approximately US$16,983,000), or RMB300 per square meter. At the time of execution of the Contract, Laiyang Jiangbo paid a deposit of RMB22,000,000 (approximately US$3,227,000) toward the total land transfer price. The balance of the transfer price, RMB93,764,000 (US$13,756,000), was required to be paid by Laiyang Jiangbo within 20 days of the execution of the Contract and was fully paid by Laiyang Jiangbo in November 2009.

An English translation of the Contract is filed herewith as Exhibit 10.1 and is incorporated herein by reference.



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 22, 2010, the Board of Directors of the Company received the resignation of Ms. Xue Hong from her position as the Company's Controller and Chief Accounting Officer, effective February 23, 2010. There were no disagreements between Ms. Xue and the Company on any matter relating to the Company's operations, policies or practices, which resulted in her resignation.

[rem53]

Nue online Presentation der Firma.
März 2010.

http://www.jiangbopharma.com/uploaded/201003230458463.pdf

[rem53]

Hier ist die cc vom 26.02.10
Die Kommentare des Managers sind auf chinesisch,bitte weiterspulen.

Elsa machst in englisch,ist ein bisschen gewöhnungsbedürftig.
Vorallendingen diese Spukgeräusche im Hintergrund.Es ist der Mann der wegen Krankheit aufgeben will,schein zu stimmen.
Viel Zahlen.Ich muss es mir nochmals anhören.
Vielleicht hört jemand was Interressantes raus.

http://www.jiangbopharma.com/others.php?fir_lineid=75&sec_li…

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…


Jiangbo Pharmaceuticals Announced Amendment to the October 2009 Land Contract Eliminating Standard Investment Requirements
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Press Release Source: Jiangbo Pharmaceuticals, Inc. On Monday April 12, 2010, 1:17 pm EDT

LAIYANG, China, April 12 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board:JGBO.ob - News) (the "Company" or "Jiangbo"), today announced that Laiyang Jiangbo Pharmaceuticals, Co., Ltd., the Company's operating entity in China, has recently entered into an amended agreement with the Land and Resources Bureau of Laiyang City to eliminate the investment requirements on the contract for land use right transfer which was signed by the two parties on October 27, 2009 ("the October 2009 Contract").

Pursuant to the October 2009 Contract, Jiangbo has purchased the right to use a 385,800 square meter parcel of state-owned construction land for a period of 50-years at a purchase price of RMB115,764,000 (approximately US$16,983,000). The Company plans to build a new factory in this area for the production of future new self-developed and acquired drugs. On March 31, 2010, the October 2009 Contract was amended to eliminate the previous standard requirements that (i) total investment shall be no less than RMB868,200,000 (approximately US$127,365,000 ); and (ii) the investment intensity shall be no less than RMB3,000 per square meter. All the other provisions of the October 2009 Contract remain unaffected and in full force.

"We are happy to announce the elimination of the investment requirements in the October 2009 Contract and appreciate the support of the Land and Resources Bureau of Laiyang City for Jiangbo's future plans in the region. The amended terms provide the Company with much more financial flexibility in our construction and investment plans, as well as reduce our over all capital expenditure commitment in the coming years," commented Mr. Wubo Cao, the Company's Chief Executive Officer. "Planning for the new land is underway and we look forward to providing an update in the coming quarters."

About Jiangbo Pharmaceuticals, Inc.

Jiangbo Pharmaceuticals is engaged in the research, development, production, marketing and sales of pharmaceutical products in China. The Company's operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong Province. Jiangbo produces both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. For additional information, please visit the Company's website ( http://www.jiangbopharma.com ).

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…


Jiangbo Pharmaceuticals Reports Results for Third Quarter of Fiscal Year 2010
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Press Release Source: Jiangbo Pharmaceuticals, Inc. On Monday May 17, 2010, 6:00 am EDT

LAIYANG, China, May 17 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board:JGBO.ob - News) ("Jiangbo" or the "Company"), a pharmaceutical company with its principal operations in the People's Republic of China, today announced financial results for the third quarter fiscal year 2010 ended March 31, 2010.


Third Quarter Highlights

-- Revenue was $25.6 million, a slight decrease of 0.6% year-over-year
-- Gross profit was $18.6 million, as compared to $18.9 million, and gross
margin was 72.7%, as compared to 73.4% in the year ago quarter
-- Operating income rose 3.1% to $13.7 million
-- GAAP net income was $15.2 million, or $1.33 per basic share, compared
$8.9 million or $0.86 per basic share a year ago
-- Excluding loss from discontinued operation, non-cash gain or loss
related to the change in fair value of derivative liabilities,
unrealized gain or loss on trading securities, and amortization
expenses for debt discount and financing cost, non-GAAP adjusted net
income was $7.7 million, or $0.50 per diluted share, as compared to
non-GAAP adjusted net income of $10.1 million, or $0.68 per diluted
share.

"Our third quarter operating income returned to growth as a result of strengthened sales effort and improved operational efficiency stemming from our continued cost control efforts," said Jiangbo's Chairman and CEO, Mr. Wubo Cao. "Sales of several of our key products, including Clarithromycin sustained-release and Radix Isatidis, experienced strong year-over-year growth and reflected the recent reinforcement of our sales effort and distribution channels. We continue to evaluate strategic opportunities to cost-effectively market our key products to deliver organic revenue growth in future quarters."

Third Quarter Fiscal Year 2010 Results

Total revenue for the three months ended March 31, 2010 was $25.6 million, compared to $25.7 million for the three months ended March 31, 2009. Sales volume for Clarithromycin sustained-released tablets grew 23.0% year-over-year as a result of the Company's reinforced sales efforts and tighter management of its distribution channels. Similarly, sales volume for Radix Isatidis dispersible tablets rose 44.7% over the prior year quarter. Strong sales growth of these two products was offset by a decline in sales volume for Itopride Hydrochloride granules and Baobaole chewable tablets, which were down 10.8% and 35.9%, respectively. Itopride and Baobaole continued to experience competition from similar products, including some that are included in the National Basic Medical Insurance Catalog. As the sales growth of OTC drugs, such as Baobaole chewable tablets and Radix Isatidis dispersible tablets, require continued support through advertising and promotion, management is evaluating the appropriate investment in TV advertising to drive the sales.

Gross profit in the third quarter was $18.6 million, as compared to $18.6 million in the prior year period. Gross margin decreased to 72.7% from 73.4%, primarily due to changes in the sales of product mix.

Selling, general and administrative expenses were $3.8 million for the three months ended March 31, 2010, down 15.1% from $4.5 million in the prior year period and primarily reflected the Company's more effective cost control efforts. Year-over-year spending reduction stemmed primarily from lower advertising, marketing and promotion, as well as salaries, wages and related benefits.

Research and development expenses totaled $1.1 million, consistent with those in the prior year period. The Company is obligated to make monthly payment to the designated university/institute to support two cooperative research and development agreements which were signed in fiscal 2008.

Income from operations rose 3.1% to $13.7 million from $13.3 million, primarily reflecting lower year-over-year operating expenses.

Other income was $5.0 million, as compared to other expenses of $1.1 million for the three months ended March 31, 2009. The increase was mainly due to an $11.6 million non-cash gain related to the change in the fair value of derivative liabilities, partly offset by $6.6 million interest expenses and non-cash amortization expense related to debt discount and debt issuance costs related to the convertible debentures, as compared to $1.2 million in the third quarter of 2009.

GAAP net income for the three months ended March 31, 2010 was $15.2 million, as compared to $8.9 million in the year ago quarter. Basic earnings per share (EPS) were $1.33, compared with $0.86 a year ago. Diluted EPS assumes the conversion of the Company's convertible notes and is calculated by adding interest expenses to and deducting the unamortized loan issuance costs and debt discount from net income. As a result, the Company recorded earnings of $0.02 per diluted share, as compared to a loss of $1.49 per diluted share in the same quarter last year.

Excluding loss from discontinued operation, non-cash gain or loss related to the change in fair value of derivative liabilities, unrealized gain or loss on trading securities, and amortization expenses for debt discount and financing cost, non-GAAP adjusted net income was $7.7 million, or $0.50 per diluted share, as compared to non-GAAP adjusted net income of $10.0 million, or $0.68 per diluted share a year ago.

Nine Month Results

Total revenue for the nine month period ended March 31, 2010 was $68.1 million, down 21.0% from $86.2 million for the nine month period ended March 31, 2009. The decrease was primarily due to a 26% average per unit sales price reduction year-over-year for Clarithromycin sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tables during the first six months of fiscal year 2010, following restructuring of the Company's sales network in January 2009.

Gross profit totaled $50.2 million, down 24.4% from $66.5 million in the prior year period, representing a gross profit margin of 73.7%. Operating income was $33.5 million, a 4.6% increase year-over-year from $32.1 million last year.

GAAP net income was $22.7 million, or $2.07 basic EPS, as compared to $17.4 million, or $1.75 basic EPS in the corresponding period in 2009. Diluted EPS was $0.57 per share, as compared to a loss of $0.86 per share in the year ago period.

Excluding loss discontinued operation, non-cash gain or loss related to the change in fair value of derivative liabilities, unrealized gain or loss on trading securities, and amortization expenses for debt discount and financing costs, non-GAAP adjusted net income was $21.2 million, or $1.39 per fully diluted share for the nine months ended March 31, 2010, compared to non-GAAP adjusted net income of $23.5 million, or $1.64 per fully diluted share, for the nine months ended March 31, 2009.

Financial Condition

As of March 31, 2010, the Company had $96.5 million in cash and an additional $11.5 million in restricted cash, as compared to $104.4 million and $7.3 million, respectively, at the end of fiscal 2009. The decrease was mainly due to the late 2009 purchase of land use rights for a large parcel of land near Laiyang Jiangbo Pharmaceuticals for $17 million for future factory expansion. Working capital was $77.7 million at March 31, 2010 and $99.8 million at June 30, 2009.

Shareholder's equity was $124.2 million, as compared to $126.1 million at the end of fiscal 2009. The decrease in shareholder's equity was the result of the reclassification of the Company's derivative instruments from equity to liability. The Company generated $8.5 million in cash flows from operating activities in the first nine months of fiscal 2010.

The Company has continued a dialogue with holders of its November 2007 Notes and May 2008 Notes to find a mutually agreeable resolution regarding the delinquent interest payments. Jiangbo became delinquent on the payment of the interests due on the November 2007 Notes and May 2008 Notes due to continued delays in its ability to transfer cash out of the People's Republic of China (PRC). Pursuant to a certain Letter Agreement dated February 15, 2010 with holders of the November 2007 Notes and May 2008 Notes, the holders of such Notes had agreed to waive the outstanding default under the Notes as a result of the Company's failure to make timely interest payments on the Notes provided that the Company made the delinquent interest payments by February 25, 2010, and to date, remains unable to make these payments. Currently, $4.0 million aggregate principal amount of the November 2007 Notes and $22.9 million aggregate principal amount of the May 2008 Notes remains outstanding.

Guidance and Corporate Update

"We recognize the need to expand our commercial product portfolio and build a strong R&D pipeline to create sustainable long-term growth," added Mr. Cao. "As we continue to evaluate the best deployment of our cash for strategic product acquisition and licensing deals, we expect to continue improving our operational efficiency and to strengthen our operational management team to accelerate that effort."

The Company is maintaining its fiscal 2010 revenue guidance of $96 million to $98 million and operating income guidance of $42 million to $44 million. Management expects to continue to deploy its policy of engaging in cost-effective marketing of select key drugs and improving operational efficiency in the fourth quarter of fiscal 2010.

Renovation at the Hongrui's factory is continuing and is now expected to finish by early July 2010. The Company has increased the scope of this project to include additional repairs and upgrades to ensure the production facilities will, similar to the existing Jiangbo facility, conform to GMP standards.

With $96.5 million in cash, Jiangbo continues to actively evaluate opportunities to in-license or acquire new branded drugs with sustainable long-term growth potential.

Conference Call

Jiangbo Pharmaceuticals, Inc. management will host a conference call on Monday, May 17, 2010 at 7:00 a.m. Eastern Time to discuss financial results for the third quarter ended March 31, 2010. The conference call will include Mr. Wubo Cao, Chairman and CEO, and Ms. Elsa Sung, CFO, of Jiangbo. To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: [phone]. International callers should dial +1 (706) 758 - 5465. The Conference ID for this call is 74532345.

If you are unable to participate in the call at this time, a replay will be available for 14 days starting on Monday, May 17, 2010 at 9:00 a.m. Eastern Time. To access the replay, dial [phone], international callers dial [phone]. Conference ID is 74532345.

Use of Non-GAAP Adjusted Financial Information

This press release includes certain financial information, non-GAAP adjusted net income and non-GAAP adjusted fully diluted earnings per share, which are not presented in accordance with GAAP. Non-GAAP adjusted net income was derived by taking net income and adjusting it with non-cash gains or losses related to the change in fair value from derivative liabilities and the amortization of debt discount and debt issuance costs related to convertible debentures. The Company's management believes that these non-GAAP adjusted measures provide investors with a better understanding of the Company's historical results from its core business operations. To supplement the Company's condensed consolidated financial statements presented on a non-GAAP adjusted basis, the Company has provided non-GAAP adjusted financial information, which is non-GAAP adjusted net income and non-GAAP adjusted earnings per share, excluding the impact of these items in this press release. The non-GAAP adjusted information is not meant to be considered in isolation or as a substitute for GAAP financials. The non-GAAP adjusted financial information provided by the Company may also differ from non-GAAP adjusted information provided by other companies. A table at the end of this press release provides a reconciliation of the non-GAAP adjusted financial information to the nearest GAAP measure.

About Jiangbo Pharmaceuticals, Inc.

Jiangbo Pharmaceuticals, Inc. is a U.S. public company engaged in the research, development, production, marketing and sales of pharmaceutical products in the People's Republic of China. Its operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong province. Jiangbo is a major pharmaceutical company in China producing both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. http://www.jiangbopharma.com .

Safe Harbor Statement

[rem53]

http://www.sec.gov/Archives/edgar/data/1091164/0001144204100…

[rem53]

http://www.sec.gov/Archives/edgar/data/1091164/0001144204100…

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-Inc-pr…


Jiangbo Pharmaceuticals, Inc. Receives Approval to List on the NASDAQ Global Market
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Press Release Source: Jiangbo Pharmaceuticals, Inc. On Friday June 4, 2010, 9:00 am

LAIYANG, China, June 4 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (OTC Bulletin Board:JGBO.ob - News) (the "Company" or "Jiangbo"), a pharmaceutical company with its principal operations in China, today announced that the Company has received approval to list its common stock on the NASDAQ Global Market.

Jiangbo anticipates that its common stock will begin trading on the NASDAQ Global Market on Tuesday, June 8, 2010, under the symbol "JGBO". Until that time, the Company's common stock will continue to trade on the Over-the-Counter Bulletin Board under the symbol "JGBO".

"We are extremely pleased to meet the listing standards for NASDAQ Global Market, one of the world's preeminent stock exchanges, and would like to thank all of our supporters, including our investors and employees," commented Mr. Wubo Cao, the Company's Chief Executive Officer. "We view this upgrade as a significant milestone in Jiangbo's development as a U.S. publicly-traded company. We anticipate the move to the NASDAQ Global Market to help to increase the Company's visibility in the investment community, improved trading liquidity and broaden our shareholder base."

About Jiangbo Pharmaceuticals, Inc.

Jiangbo Pharmaceuticals is engaged in the research, development, production, marketing and sales of pharmaceutical products in China. The Company's operations are located in Eastern China in an Economic Development Zone in Laiyang City, Shandong Province. Jiangbo produces both western and Chinese herbal-based medical drugs in tablet, capsule, granule, syrup and electuary (sticky syrup) form. For additional information, please visit the Company's website http://www.jiangbopharma.com .

[rem53]

http://www.marketwatch.com/story/jiangbo-pharmaceuticals-rec…

press release

June 10, 2010, 9:00 a.m. EDT · Recommend · Post:
Jiangbo Pharmaceuticals Receives Approval for Felodipine Sustained Release Tablets

LAIYANG, China, June 10, 2010 /PRNewswire via COMTEX/ -- Jiangbo Pharmaceuticals, Inc. /quotes/comstock/15*!jgbo/quotes/nls/jgbo (JGBO 8.23, -0.17, -2.02%) (the "Company" or "Jiangbo"), today announced that the Company received approval from the Chinese State Food and Drug Administration ("SFDA") to start producing Felodipine sustained release ("SR") tablets.

Felodipine SR is a well recognized generic drug to treat hypertension and is listed in China's Basic Medical Insurance Catalog for medical coverage. A 2009 study conducted by researchers in the U.S. and China, led by Tulane University, estimated that approximately 153 million people had hypertension in China and less than 5% of the hypertensives received treatment. While there are currently several other pharmaceutical companies selling Felodipine SR tablets, the Company believes that the market opportunity is very large and plans to leverage its strong national distribution relationships to effectively penetrate the market and gain share. Many of Jiangbo's current distributors have expressed interest in cooperating with the Company to distribute Felodipine SR tablets and Jiangbo also expects to initiate discussions with numerous new distributors to help expand the marketing of this drug across retail and hospital sales channels.

Jiangbo believes that it has the necessary manufacturing equipment and capacity to produce Felodipine SR tablets. The Company expects to complete the pilot production requirements and receive final distribution approval from Shandong Food and Drug Administration in July 2010. The Company plans to initiate commercial distribution immediately following the receipt of such approval. Management anticipates the drug to be a meaningful contributor to its revenue and profit starting in fiscal 2011 and estimates revenue potential for this drug to be between $8 million and $12 million in the first twelve months of launch with a projected gross margin of at least 70%.

"We are very excited to receive this important approval to produce Felodipine SR tablets, which we believe will be a key revenue and profit growth driver for us in the next few years," said Mr. Cao Wubo, Chairman and CEO of Jiangbo Pharmaceuticals. "We are already preparing for the commercial production and launch of Felodipine SR tablets and plan to carefully select distributors to maximize our commercial opportunity for this new drug. We believe the addition of Felodipine SR tablets will enrich our product portfolio and strengthen our competitive market position, while providing more cost effective new medicine to meet growing patient demand."

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…

Jiangbo Pharmaceuticals Announces the Appointment of New Chief Executive Officer

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JGBO 9.43 0.00

{"s" : "jgbo","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: Jiangbo Pharmaceuticals, Inc. On Thursday July 1, 2010, 8:30 am EDT
LAIYANG, China, July 1 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (Nasdaq:JGBO - News) (the "Company" or "Jiangbo"), today announced the appointment of Mr. Linxian Jin, a pharmaceutical industry veteran in China, as the Company's Chief Executive Officer (CEO) effective July 1, 2010. As part of an effort to continue to strengthen the senior management team, Mr. Jin will take over the role of CEO from the Company's Chairman, Mr. Wubo Cao, who resigned on June 29, 2010. Mr. Cao will continue his role as Chairman of the Company's Board.

With 20 years working experience in the pharmaceutical industry, Mr. Jin brings with him a wealth of knowledge and experience in production management, cost control, material management, quality control, safety and environmental management, marketing and sales. He also has significant experience with the Chinese, European Union and U.S. GMP certification.

Mr. Jin joined Laiyang Jiangbo Pharmaceuticals, Inc., the wholly owned subsidiary of the Company, as Deputy General Manager of Production Technology in April 2008. Previously, he had been the General Manager of Shandong Luxi Pharmacy Co., Ltd and Deputy General Manager of Shandong Quancheng Pharmaceutical Co., Ltd. From October 2000 to June 2006, Mr. Jin served as Deputy General Manager with Zibo Hualong Pharmaceutical Co., Ltd. and Linuo Group Jinan Yongning Pharmaceutical Co., Ltd. He began his career in 1990 with Shandong Zaozhuang First Pharmaceutical Factory, where he held positions of increasing responsibility including as the Head of Quality Inspection Department, Production Manager, Marketing Manager, and Assistant to General Manager during his ten-year tenure. Mr. Jin holds a bachelor degree with a major in Chemical Pharmaceutical from East China University of Science and Technology.

"I am delighted to join Jiangbo. I believe that Jiangbo is a company with significant growth momentum and a promising future in China's rapidly growing pharmaceutical industry. I congratulate Mr. Cao and the entire team on the achievement of a significant milestone in Jiangbo's history with the listing on the NASDAQ Global Market," said Mr. Jin. "Together with the rest of Jiangbo's management team, I plan to work hard to better define and execute a strategic plan that maximizes Jiangbo's growth potential and returns value to our shareholders."

Mr. Cao, Chairman of Jiangbo's Board, said, "On behalf of the Board, I welcome Mr. Linxian Jin as the new CEO of Jiangbo at a critical turning point in the Company's development when we require a deeper senior management team to achieve our strategic objectives. Mr. Jing brings considerable experience and leadership to Jiangbo and I believe that he is well-qualified to guide the Company through the next chapter of its growth. We both share a common belief in this Company's potential to continue to capitalize on its strong position in China's large pharmaceutical market."

[rem53]

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks…

Bei yahoo hat neche ein Posting über die noch Ausstehenden warrents,Aktien reingestellt.
Es ist zwar noch etwas verwirrend,ist aber das Beste,was ich in dieser Art gesehen habe.
Vielleicht kanns ein Bankmensch kurz zusammenfassen.


google

Es ist alles in 10k. Taking es langsamer ... JGBO hat 12m ausstehenden Aktien von ihren jüngsten 10Q. PIPE Investoren bereits 8 Millionen Dollar von den insgesamt $ 35m Papst Noten verlassen $ 27m links und 2,3 Mio. Optionsscheine offen zu verschiedenen Basispreisen und Verfallsdaten umgewandelt.

Technisch könnten sie konvertieren / Übung morgen, und wir konnten 17,6 Mio Aktien im Umlauf haben, ABER es ist nicht wahrscheinlich, sie konvertieren / Übung alles zur gleichen Zeit. Ich vermute es wird passieren, wenn die Fälligkeit nähern und wenn die Aktie über $ 8, I-Wetten wird es bin. Daher ist dies ein guter Zeitpunkt, um, 4 Monate vor dem November 2010 Fälligkeitstag für die November 2007 Noten kaufen.

1)
Der November 2007 PIPE von $ 5m Cabrio @ $ 8 und $ 8 400k @ Optionsscheine verfallen November 2010. Nur $ 1m der Schuldverschreibungen, Aktien haben bisher (der Anleger kann jederzeit wandeln) umgewandelt. Das Folgende ist links zu konvertieren / November 2007 für die PIPE Übung:

500k von Notizen
400k von Optionsscheinen Unternehmens Netze $ 3,2 bar

Also in dem der Anteil 12,9 Außergewähnliche wird, wenn sowohl die Noten und Optionsscheine überführt / von November 2010 ausgeübt werden.

2)
Der Mai 2008 PIPE von $ 30m Cabrio @ $ 8 Mai 2011 auslaufen 1.875m @ $ 10 Optionen verfallen Mai 2013. Nur $ 7m der Schuldverschreibungen, Aktien haben bisher umgewandelt. Das Folgende ist links zu konvertieren / im Mai 2008 PIPE Übung:

2.875m von Notes ($ 23m von Notizen bleiben)
1.875m von Optionsscheinen @ $ 10 $ 18,75 m Netze Cash

Also insgesamt 12,9 Mio. ausstehenden Aktien wird 2.875m + = 15.8m IF alle Noten bekommen Mai 2011 umgesetzt werden. Plus die 1,85 $ 10 Optionsscheine, die Mai 2013 auslaufen.

Seiten F-29 F-37 - deckt Schuldscheine, Optionsscheine und Optionen.
http://sec.gov/Archives/edgar/data/10911 ...

Ich würde die Zeit nehmen, um die 10k ein paar Mal zu lesen. Nichts über diese seltsame, IMO, und ich glaube nicht, dass Verdünnung ist ein Problem mit dieser Gesellschaft überhaupt und ist eine weitere Quelle der Verwirrung für neue Investoren. Die Schuldverschreibungen Aktien verbleiben, sind weitere 3.375m Aktien und die Optionsscheine sind weitere $ 2,275 (was das Unternehmen weitere $ 22 in bar). Ich dachte, ich sehe das nicht als sehr Verwässerungseffekt. Sie haben eine Tonne von Geld und der operative Cashflow NASDAQ meisten Unternehmen würden von Traum. JGBO wird Bezug zu einem bestimmten Zeitpunkt zu erhalten ist es nur eine Frage der Zeit, IMO. Hope this helps.

[rem53]

http://finance.yahoo.com/news/Jiangbo-Pharmaceuticals-prnews…


Jiangbo Pharmaceuticals Announces the Commercial Launch of Felodipine Sustained Release Tablets
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JGBO 9.14 0.00
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{"s" : "jgbo","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""}
Press Release Source: Jiangbo Pharmaceuticals, Inc. On Monday August 16, 2010, 9:00 am

LAIYANG, China, Aug. 16 /PRNewswire-Asia-FirstCall/ -- Jiangbo Pharmaceuticals, Inc. (Nasdaq:JGBO - News) (the "Company" or "Jiangbo"), today announced that the Company received approval from the Shandong Food and Drug Administration ("Shandong FDA") to start the sales of Felodipine sustained release ("SR") tablets.

After the Company received approval from the Chinese State Food and Drug Administration ("SFDA") to start producing Felodipine SR tablets in early June this year, Shandong FDA reviewed the Company's manufacturing equipment and capacity to produce Felodipine SR tablets, examined the final products from its pilot production and approved the sale of Felodipine SR tablets. Felodipine SR is a well recognized generic drug to treat hypertension and is listed in China's Basic Medical Insurance Catalog for medical coverage.

As the current market leader recently increased the selling price of its Felodipine SR tablets, many of its distributors have turned to Jiangbo and expressed their interest in building a cooperative relationship. Jiangbo has engaged ten major distributors to sell this product in a number of different regions throughout China and believes that its strong distribution network will enable it to expand its market share in Felodipine SR tablets, quickly.

"We are very excited to begin the commercial launch of Felodipine SR tablets, which we believe will be a key revenue and profit growth driver for us in the next few years. We estimate revenue potential for this drug to be between $8 million and $12 million in the first twelve months of launch with a projected gross margin of at least 70%," said Mr. Linxian Jin, CEO of Jiangbo. "We believe the addition of Felodipine SR tablets will enrich our product portfolio and will strengthen our competitive market position, while providing more cost effective new medicine to meet growing patient demand."