China-Biotics (PINK:CHBT)

After perusing the web, we have found that analysts have issued updates on CHBT.  The company hosted a meeting  for analysts, where the company seems to have  unveiled various tax documents.  Analysts claim that sales, derived from observing VAT payments, and net income numbers match 2008 and 2009 figures reported to the SEC.

GeoTeam® Note:

While this is certainly a step in the right direction we feel that shorts will attempt to down play this development. The documents were likely provided by CHBT and not obtained independently. They may claim that the documents are forged documents that maybe even the auditors had used, which is a bigger problem. Analysts have also lowered price targets and financial forecasts, due to issues related to the lack of traction from retail operations. 

Aside from the SAIC issue, this could be a case in point of a company being too aggressive in its growth plans.  Many ChinaHybrids have the attitude that they need to grow overnight,  raise money, and dilute shareholder interests; as opposed to taking a methodical and controlled approach to expansion.