Sen Yu Intl Hldgs Com Usd0.01 (GREY:CSWG)

WEB NEWS

Tuesday, May 22, 2012

Comments & Business Outlook
 
       
For The Nine Months Ended March 31,
 
   
2012
   
2011
   
2012
   
2011
 
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
   
(Unaudited)
 
 Revenues
  $ 34,322,000     $ 20,308,812     $ 140,712,815     $ 72,952,746  
 Cost of Goods Sold
    28,588,310       14,788,442       100,460,200       55,059,096  
 Gross Profit
    5,733,690       5,520,370       40,252,615       17,893,650  
 Operating Expenses
                               
  Selling expenses
    1,173,532       715,064       4,000,706       2,529,271  
  General and administrative expenses
    382,012       325,314       1,042,695       1,123,149  
  Losses on disposal of fixed assets
    -       21,886       68       71,034  
  Bad debt expense for advanced to suppliers
    32,290       423,214       1,456,389       463,499  
  Compensation Expense
    476,673       151,258       1,496,355       351,258  
 Total Operating Expenses
    2,064,507       1,636,736       7,996,213       4,538,211  
 Income From Operations
    3,669,183       3,883,634       32, 256,402       13,355,439  
 Other Income (Expense)
                               
   Interest (expense) income, net
    (10,865 )     22,342       (16,435 )     (116,792 )
   Other expense, net
    (30,181 )     (1,552 )     (73,874 )     (1,541 )
   Change in fair value of warrants
    (1,278,879 )     (3,861,173 )     1,894,411       4,054,792  
 Total Other (Expense) Income
    (1,319,925 )     (3,840,383 )     1,804,102       3,936,459  
 Income from Continuing Operations Before Income Taxes
    2,349,258       43,251       34,060,504       17,291,898  
 Income Tax Provision
    -       -       -       -  
 Net Income Before Noncontrolling Interest
    2,349,258       43,251       34,060,504       17,291,898  
  Less: Net income (loss) attributable to the noncontrolling interest
    21,450       (12,445 )     108,407       (15,861 )
 Net Income Attributable to Sen Yu International Holdings, Inc.
  $ 2,327,808     $ 55,696     $ 33,952,097     $ 17,307,759  
 Earnings Per Share:
                               
   - Basic
  $ 0.09     $ 0.00     $ 1.31     $ 0.82  
   - Diluted
  $ 0.08     $ 0.00     $ 1.21     $ 0.71  
 Weighted Common Shares Outstanding
                               
   - Basic
  $ 26,155,511     $ 21,721,267     $ 25,866,124     $ 21,169,077  
   - Diluted
  $ 28,311,104     $ 24,304,437     $ 28,021,717     $ 24,607,730  

GeoTeam® Note: 2012 vs. 2011 Third Quarter Adjusted EPS was $0.14 vs. $0.18.

The increase in revenues resulted from increased orders from our major customers, Beijing Dahongmen and Beijing Fifth Meat Factory. Hog sales increased to 162,324 heads for the three months ended March 31, 2012 from 101,141 heads during the three months ended March 31, 2011.


Thursday, September 29, 2011

Comments & Business Outlook

Fiscal 2011 Highlights

  • Total revenue increased 41.8% to a record $99.8 million from $70.4 million
  • Gross profit increased 84.6% year-over-year to $25.9 million from $14.0 million
  • Gross margin increased to 26.0% from 20.0% on increased sales and strong increases in the average market price for hogs
  • Adjusted net income, which excludes a gain in the fair value of warrants, increased 202.2% to $18.9 million, or $0.73 per diluted share, versus $6.3 million, or $0.41 per diluted share, for the same period last year, which excludes a non-cash expense related to the fair value of warrants for the fiscal year 2010
  • Net income increased to $36.1 million, or $1.40 per diluted share, from $4.3 million, or $0.29 per diluted share, for the fiscal year ended June 30, 2010

"We experienced record revenues and profits in fiscal 2011 based on strong demand for our high quality breeding and commercial hogs," stated Mr. Zhenyu (Jack) Shang, Founder, Chairman and CEO of Sen Yu International Holdings, Inc. "Increased orders from our two major customers, Beijing Dahongmen and Beijing Fifth Meat Factory, resulted in revenues increasing to $99.8 million for the year compared to $70.4 million in revenue for fiscal 2010. Overall, our hog sales increased by 106,773 head to 504,028 head in fiscal 2011, compared to 397,255 at the end of fiscal 2010. We achieved higher margins in fiscal 2011 due to strong increases in average market prices for commercial hogs that led to higher unit sales prices. We believe our efficient business model and advanced breeding techniques, coupled with the demand we see for our products, will help us to continue to capture market share and drive our future growth."

Business Outlook

"We see significant growth for our industry going forward and believe that strong demand from Chinese consumers for high quality pork coupled with rising domestic incomes and economic expansion will stimulate even greater demand for our high quality breeding hogs," commented Mr. Shang. "The market for breeding and commercial hogs is becoming very attractive to foreign investors as China is the world's largest consumer of pork and produces some 50 million tons of pork every year to feed a population of over 1.3 billion. We continue to expand our production and refine our breeding techniques to meet the rising demand from China's middle class. Going forward, we believe pork consumption and production will continue to rise and that Sen Yu is well positioned to capture greater revenue and profit."


Saturday, June 11, 2011

CFO Trail
On June 6, 2011, Mr. Paul Li submitted to Sen Yu International Holdings, Inc. (the “Company”) his resignation as Chief Financial Officer of the Company, which becomes effective on August 5, 2011. Mr. Li stated in his resignation letter that his resignation was not due to any disagreement with the Company.

Friday, June 3, 2011

Deal Flow
On May 27, 2011, Sen Yu International Holdings, Inc. entered into a subscription agreement with four non-U.S. individual investors, pursuant to which the Company sold an aggregate of 804,000 shares of the Company’s common stock, par value $0.001 per share at $1.50 per share for total gross proceeds of $1,206,000. No placement agent was utilized in connection with the May 2011 Private Placement. The issuance of the Shares was made in reliance on the exemption from registration provided by Regulation S of the Securities Act of 1933, as amended, as an offshore transaction involving non-U.S. persons.

Tuesday, May 17, 2011

Comments & Business Outlook

Third Quarter 2011 Highlights 

  • Total revenue increased 36% to $20.3 million from $14.9 million a year ago
  • Gross profit increased 107% to $5.5 million from $2.7 million a year ago
  • Gross margin increased to 27.2% from 17.9% in the same period last year on increased sales and strong increases in the average market price for hogs
  • Operating expenses were $1.6 million, up from $1 million in the same period last year
  • Operating income rose 139% to $3.9 million from $1.6 million a year ago
  • Adjusted net income, which excludes a non-cash expense related to the change in fair value of warrants for the third quarter of 2011, was $3.9 million, versus $1.4 million for the same period last year, last year there was no such non-cash expense relating to fair value of warrants
  • Adjusted EPS was $0.16 vs. $0.08
  • Net income was $55,696, or $0.00 per diluted share
  • Working capital increased 85% to $37.8 million at March 31, 2011, from $20.5 million at June 30, 2010
  • Shareholders' equity inclusive of noncontrolling interest increased 77% to $39.6 million at March 31, 2011, from $22.5 million at June 30, 2010

"We experienced higher revenue and gross profit in what is typically a slower season following the Chinese holidays," stated Mr. Zhenyu (Jack) Shang, Founder, Chairman and CEO of Sen Yu International Holdings, Inc. "This was driven by increased orders from our two major customers, Beijing Dahongmen and Beijing Fifth Meat Factory, resulting in solid revenue increases and a 107% increase in gross profit for the quarter. Hog sales increased by 13,761 head over the third quarter of last year. Going forward, we believe that our efficient business model, coupled with advanced breeding techniques and the superior quality of our Canadian breeding hogs will allow us to capture more market share and drive our growth."

Business Outlook

"We continue to see significant growth for our industry, underpinned by strong demand for quality pork among Chinese consumers," said Mr. Zhenyu (Jack) Shang, Founder, Chairman and CEO of Sen Yu International Holdings, Inc. "China's economy continues to grow rapidly, buoyed by a rising middle class and the continued preference for pork as a main and most popular source of protein among the Chinese population. To meet rising consumer demand, we continue to refine our breeding techniques and expand production based on increases in orders for commercial hogs from our customers. Based on China's economic expansion and government policies encouraging domestic pig production, we believe pork production and consumption will continue to rise, helping to fuel strong revenues and profits in our business going forward."


Saturday, April 30, 2011

Investor Presentations
Sen Yu International Holdings, Inc.  is hereby furnishing a corporate presentation that the Company intends to present at the 2011 Financial Services Exchange conference in San Francisco, California on April 28 to April 30, 2011 and a fact sheet  to be distributed at the conference and thereafter.

Wednesday, April 20, 2011

Share Structure
Pursuant to the terms of the 10% Secured Convertible Notes (the “Notes”) Sen Yu International Holdings, Inc.(the “Company”) issued in February 2010, which were described in more detail in the Current Report on Form 8-K filed on February 22, 2010, all of the Notes were automatically converted, for no additional consideration, into an aggregate of 1,096,498 shares of the Company’s common stock (“Common Stock”), 913,192 shares of Series B Preferred Stock, Series A Warrants to purchase an aggregate of 799,044 shares of Common Stock, Series B Warrants to purchase an aggregate of 799,044 shares of Common Stock and Series F Warrants to purchase an aggregate of 877,199 shares of Common Stock, immediately following the closing of the private placement of $3,044,140 of Common Stock, which together with the private placement of $2.42 million of the Company’s Series B Preferred Stock in June 2010, constituted a “Qualified Financing” as defined in Notes. The issuance of the Common Stock, Series B Preferred Stock, Series A Warrants, Series B Warrants and Series F Warrants upon conversion of the Notes was made in reliance on the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended.

Sunday, April 3, 2011

CFO Trail

On March 3, 2010, Ligang Shang delivered a resignation letter to Sen Yu International Holdings, Inc. (the “Company”) pursuant to which he resigned as Chief Operating Officer of the Company effective immediately. Mr. Shang will continue serving as a member of the Company’s board of directors.

On the same day, Mr. Shang was appointed as the Vice Chairman of Heilongjiang Sen Yu Animal Husbandry Co., Ltd., a wholly owned subsidiary of the Company in China. Mr. Shang’s current compensatory arrangement with the Company will not change as a result of the changes of his position with the Company.


Tuesday, February 22, 2011

Deal Flow

On February 17, 2011, Sen Yu International Holdings, Inc. entered into a subscription agreement with a non-U.S. investor called D.D Investment Co., Limited, a Marshall Islands corporation, pursuant to which the Company sold an aggregate of 1,383,700 shares of the Company’s common stock at $2.20 per share for total gross proceeds of $3,044,140 (the “February 2011 Private Placement”).

The Investor also received a common stock purchase warrant exercisable for three years to purchase 1,106,960 shares of Common Stock at $2.64 per share. The Warrant may only be exercised in cash and the exercise price of the Warrant is subject to adjustment for stock splits, stock dividends, recapitalizations and the like. The Investor is entitled to piggy-back registration rights with respect to the Shares and shares underlying the Warrant. No placement agent was utilized in connection with the February 2011 Private Placement. The issuance of the Shares and Warrant was made in reliance on the exemption from registration provided by Regulation S of the Securities Act of 1933, as amended, as an offshore transaction involving non-U.S. persons.


Monday, February 14, 2011

Comments & Business Outlook

Second Quarter Results:

  • Net revenues increased 26% to $29.1 million for the quarter ended December 31, 2010 from $22.99 million for the same period ended December 31, 2009
  • Gross profit increased 32% to $7.03 million for the quarter ended December 31, 2010 from $5.32 million for the quarter ended December 31, 2009
  • Net income, net of change in fair value of warrants, increased 34% to $5.64 million for the quarter ended December 31, 2010 from $4.21 million for the quarter ended December 31, 2009
  • Diluted earnings per common share increased 22% to $0.44 per share for the quarter ended December 31, 2010 from $0.36 per share for the same period ended December 31, 2009
  • Adjusted EPS was $0.22 vs $0.36.
  • Net revenues increased $6.08 million or 26% to $29.08 million for the quarter ended December 31, 2010 from $22.99 million for the same period ended December 31, 2009
The following table sets forth information regarding the average price per capita of our principal products during the three months ended December 31, 2010 and 2009:
 
   
Average Unit Sales Price Per Capita
       
    Three months ended December 31,      
Basic Change
 
  
 
2010 
   
2009 
   
Per Capita
 
Commercial Hogs   $ 187.90      $ 191.18      $ (3.28  )
Others Hogs
    255.02       231.29       23.73  
Overall Average Products   $
188.36
    191.18      $ (2.82  )
 
The decrease in average unit sales price (per capita) of commercial hogs, as reflected in the table, was primarily attributable to the fact that the average weight of commercial hogs we sold during the three months ended December 31, 2010 was less than the average weight in the same period in 2009. In addition, the average market price of hogs per kilogram declined slightly in the three months ended December 31, 2010 as compared to the same period in 2009. The average unit sales price of others hogs increased for the three months ended December 31, 2010 as compared to the same period in 2009.  The unit sales prices of piglets and substandard hogs were generally lower than breeding swine and commercial hogs and the unit sales prices of high quality breeding swine were higher than ordinary breeding swine. We sold more high quality breeding and ordinary breeding swine during the three months ended December 31, 2010 while we only sold ordinary breeding swine during the three months ended December 31, 2009. As a result, the average unit sales price of other hogs increased significantly for the quarter ended December 31, 2010. 

As of December 31, 2010, 2010 there was an advance to Wang Da of $32.44 million. In order to raise quality commercial hogs, and control the quality of feeding materials and procedures, the Company entered into a cooperation agreement with Wang Da, its major feedstuff supplier, to provide Wang Da's farmers with fodder to raise their commercial hogs. The supplier offsets the advances from the Company once it delivers commercial hogs to the Company


Wednesday, November 17, 2010

Comments & Business Outlook
   
 
 
 
2010
   
2009
 
 
 
 
Unaudited
   
Unaudited
 
 
 
 
 
   
 
 
 Revenues
  $ 23,562,468     $ 21,895,508  
 Cost of Goods Sold
    18,221,146       17,167,862  
 Gross Profit
    5,341,322       4,727,646  
 
 
 
 
   
 
 
 Operating Expenses
 
 
   
 
 
 
Selling expenses
    832,828       671,363  
 
General and administrative expenses
    485,824       68,172  
 
Losses on disposal of fixed assets
    48,479       107,753  
 
Bad debt for advanced to suppliers
    202,962       178,830  
 Total Operating Expenses
    1,570,093       1,026,118  
 
 
 
 
   
 
 
 Income From Operations
    3,771,229       3,701,528  
 
 
 
 
   
 
 
 Other Income (Expense)
 
 
   
 
 
 
 Interest expense (income), net
    (71,034 )     554  
 
 Other expense net
    (442 )     (6,242 )
 
 Loss on disposal of inventories
    -       (239,179 )
 
 Change in fair value of warrants
    (13,210 )     -  
 Total Other Expense
    (84,686 )     (244,867 )
 
 
 
 
   
 
 
 Income from Continuing Operations Before Income Taxes
    3,686,543       3,456,661  
 Income Tax Provision
 
 
      -  
 
 
 
 
   
 
 
 Net Income Before Noncontrolling Interest
    3,686,543       3,456,661  
 
 
 
 
   
 
 
 
Less: Net income (loss) attributable to the noncontrolling interest
    2,056       (103,814 )
 
 
 
 
   
 
 
 Net Income Attributable to Sen Yu International Holdings, Inc.
  $ 3,684,487     $ 3,560,475  
 
 
 
 
   
 
 
 Earnings Per Share:
 
 
   
 
 
 
- Basic
  $ 0.18     $ 49.04  
 
- Diluted
  $ 0.10     $ 0.18  
 
 
 
 
   
 
 
Weighted Common Shares Outstanding *
   
 
 
 
- Basic
    20,892,982       72,598  
 
- Diluted
    36,335,180       20,031,181

Liquidity Requirements
We believe that we have sufficient funds to operate our existing business for the next twelve months. In addition to funds available from operations and loans from shareholders, we may need external sources of capital for expansion of our facilities and to increase the roster of our franchisee farmers, in order to reach our goal of producing one million commercial hogs in 2013.

Thursday, October 21, 2010

Investor Presentations
Sen Yu International Holdings, Inc. is hereby furnishing a corporate presentation that the Company intends to provide to financial analysts, investors and other third parties from time to time as part of its investor relations activities.

Wednesday, September 29, 2010

Comments & Business Outlook

Year ended June 30, 2010 Highlights

  • Net revenue increased 39.61% to $70.35 million for the fiscal year ended June 30, 2010 from $50.39 million for the same period ended June 30, 2009.
  • Gross profit increased 62.75% to $14.29 million for the fiscal year ended June 30, 2010 from $8.78 million for the same period ended June 30, 2009
  • Net income increased 38.74% to $6.26 million for the fiscal year ended June 30, 2010 from $4.51 million for the same period ended June 30, 2009.
  • Diluted earnings per common share increased 100% to $0.46 per share for the fiscal year ended June 30, 2010 from $0.23 per share for the same period ended June 30, 2009.

Mr. Zhenyu Shang, the founder and chief executive officer of Sen Yu International, said, "Our strong increases in revenues and net income for the fiscal year ended June 30, 2010 reflect the high pork consumption in the Chinese market due to China's economic expansion. The consistency of our operating performance results from our established business model and effective execution. Our strategy, business model and actions have proven to be very effective, thereby delivering results. We continue to bring in talents to strengthen our financial structure and corporate governance."

Mr. Shang continued, "I believe our results for the fiscal year ended June 30, 2010 represent a very good performance in a very high growth year. With our advanced technology, modest debt leverage, and additional financing flexibility, we believe we should be very successful in expanding our current market and working capital to support sales growth in our commercial hogs market. We utilize Golden Lotus as our selling agent to ensure quality through a selection process. Golden Lotus is our exclusive sales agent in Heilongjiang Province. If Golden Lotus is not able to sell the minimum quarterly amount, it is required to pay a fee equal to 20% of the unaccomplished sales, and we have the right to sell our breeding swine through other agents. Among Golden Lotus' responsibilities is the recruitment of farmers that meet our standards. Golden Lotus is also responsible for processing the necessary data regarding the farmers, their requirements of breeding swine, their productivity, and an estimate of their fodder requirements. The data formulated by Golden Lotus is then used to determine the farmers' fodder requirements and our financial obligations to Wang Da. Wang Da is our fodder supply agent who maintains the Fodder Supply and Commercial Hog Buyback Agreements with the farmers." 

Mr. Shang concluded, "China's economic outlook continues to be encouraging, and China's projected domestic pork consumption will approach 68 million metric tons in 2015. Government support and trade protection policies also encourage domestic pig production with tax exemptions, vaccines technology, feed costs cap, price control and providing use of lands. China consumes about 50% of the world's pork products. As a result, we believe that the high demand for hogs should continue for several years."


Thursday, September 16, 2010

CFO Trail
On September 13, 2010, Sen Yu International Holdings, Inc. appointed Mr. Paul Yu Chin Li, as its Chief Financial Officer effective as of the date immediately following the date the Company’s annual report on Form 10-K for the fiscal year ended June 30, 2010 is filed with the Securities and Exchange Commission. Ms. Tongyu Zhang, the current Chief Financial Officer, will resign upon the filing of the Annual Report.

Saturday, July 24, 2010

Deal Flow
On May 1, 2010, China Swine Genetics, Inc. entered into an engagement letter with a registered broker-dealer with respect to prospective financing transactions. To date, no such financing has occurred..

Wednesday, July 14, 2010

Investor Alert
On July 2, 2010, China Swine Genetics, Inc. (the “Company”) received a written notice of acceleration dated July 2, 2010 (the “Notice”), from Primary Capital LLC (the “Agent”), who acts as the agent for the holders of the 10% Secured Convertible Notes issued by the Company on February 22, 2010 (the “Notes”), alleging that an event of default has occurred under the Notes due to the Company’s failure to pay $76,516.46 of accrued interest under the Notes due July 1, 2010, and declaring its intention to accelerate the payment of one hundred and fifty percent (150%) of the full unpaid principal amount of the Notes, together with accrued and unpaid interest thereon. The total unpaid principal amount of the Notes is $2.165 million as the date of this report. The Notice also stated the intention of the Agent to pursue all rights and remedies available to the Note holders during the continuance of an event of default and explore other remedies available under applicable law.On July 2, 2010, China Swine Genetics, Inc. (the “Company”) received a written notice of acceleration dated July 2, 2010 (the “Notice”), from Primary Capital LLC (the “Agent”), who acts as the agent for the holders of the 10% Secured Convertible Notes issued by the Company on February 22, 2010 (the “Notes”), alleging that an event of default has occurred under the Notes due to the Company’s failure to pay $76,516.46 of accrued interest under the Notes due July 1, 2010, and declaring its intention to accelerate the payment of one hundred and fifty percent (150%) of the full unpaid principal amount of the Notes, together with accrued and unpaid interest thereon. The total unpaid principal amount of the Notes is $2.165 million as the date of this report. The Notice also stated the intention of the Agent to pursue all rights and remedies available to the Note holders during the continuance of an event of default and explore other remedies available under applicable law.

Monday, June 28, 2010

GeoSpecial Notes

Added to the GeoSpecial list on February 12, 2010 @ $4.10

Catalyst: Reported a strong 2010 first quarter.
Peak performance: Reached a high of $9.00 on February 18, 2010
Current Price: $6.35 (Has a wide bid/ask spread).
 
Current road block: Company may have to raise capital as cash balance is only $3.3 million and 2010 cash flow from operations is tracking at around $4.0 million;  We need to delve further into the capital structure and investigate the 81.9% increase in the diluted share count from the 2010 first quarter to the 2010 second quarter;  Gross margins will have little room for expansion.

Removed from the GeoSpecial list until we gain a better grip on capital structure and liquidity requirements.  We were impressed that the majority shareholder, Ligang Shang, agreed to cancel his loan which could signify confidence in the business plan

"After our founders made the initial contribution of our registered capital, the growth of our business has been funded, primarily, by the revenues resulting from our business operations, by loans from the Chinese Government’s Financial Bureau and by loans from our shareholders. We did, however, owe $11,167,236 to our majority shareholder, Ligang Shang, representing funds he loaned to Advanced Swine during our development period. At the quarter ended September 30, 2009 , however, Mr. Shang agreed to waive his right to collect that sum, and contributed it to the capital of the Company. Accordingly, our working capital increased by the amount of the cancelled loan, as did our paid-in capital."

Need for capital is on the table:

"We believe that we have sufficient funds to operate our existing business for the next twelve months. However, in addition to funds available from operating and loans from shareholders, we may need external sources of capital for our expansion of our facilities and to increase the roster of our franchisee farmers, in order to reach our goal of producing one million commercial hogs in 2011."


Thursday, May 20, 2010

Financials

Revenues

Total revenues were $14,921,687 for the three months ended March 31, 2010, an increase of $7,180,772 or 93%, compared to $7,740,915 for the three months ended March 31, 2009. The increase in revenues mainly resulted from increased orders from our major customers. We increased sales volume of commercial hogs from 38,169 for the three months ended March 31, 2009 to 85,294 during the three months ended March 31, 2010.


Tuesday, August 25, 2009

Reverse Merger Activity

On August 13, 2009, Apogee Robotics, Inc. (“Apogee Robotics”) acquired all of the outstanding capital stock of Advanced Swine Genetics, Inc., Advanced Swine owns 100% of the registered capital of Heilongjiang SenYu Animal Husbandry Co., Ltd. (“SenYu”), a company organized under the laws of The People’s Republic of China (“PRC”). SenYu is engaged in the business of breeding and raising commercial hogs and piglets and distributing them to the slaughter facilities and pork distributors in the PRC. Since the inception of its business in 2004, SenYu has developed a group of farmer franchisees who serve as the primary producers under the SenYu model for raising commercial hogs. Utilizing the most advanced technology and artificial insemination equipment and applying the same strict control standards for raising commercial hogs used in North America, SenYu has established its brand name as a high-quality swine product provider in the industry in China.

Upon completion of the Share Exchange, there were 994,067 shares of the Company’s common stock issued and outstanding. There were also outstanding shares of Series A Convertible Preferred Stock that are convertible into 464,605,933 shares of common stock.

Our revenues have grown from $3,984,967 in the year ended June 30, 2006 to $30,435,126 in the year ended June 30, 2008. During the nine months ended March 31, 2009, our revenue has already exceeded revenue achieved in all of fiscal 2008, growing to $34,139,865. The increase in revenues reflects our rapid development in both production and marketing efforts.


Liquidity Requirements
Our business plan contemplates that we will invest approximately $15 million dollars on expansion to raise the goal of production of one million commercial hogs by 2011. Implementation of this plan will require significant funds. Our plan is to sell a portion of our equity in order to obtain the necessary funds, which will reduce the equity share of our existing shareholders.

Wednesday, July 9, 2008

Reverse Merger Activity

A recently filed 8K on April 7, 2008 implies that APRB may be in the midst of a reverse merger/share exchange event:

"On March 31, 2008 Zhenyu Shang purchased 630,000 shares of the Registrant’s common stock, representing 63.4% of the outstanding shares. The shares were purchased from Corporate Services International Inc., which is owned by Michael Anthony, who was the sole officer and sole director of Apogee Robotics. 

Zhenyu Shang is currently employed as Chairman and Chief Executive Officer of the Heilongjiang Senyu Animal Husbandry Co., Ltd., which is engaged in the business of breeding and raising hogs and boars in the People’s Republic of China.  Mr. Shang founded that company in 2004."

 The GeoTeam will provide more information once it becomes available.