China Organic (PINK:CNOA)

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Friday, March 18, 2011

CFO Trail

On March 18, 2011 China Organic Agriculture, Inc. announced the resignations of Chunyan Liu from his position as Chairman of its Board of Directors, Qian Qi as its Chief Executive Officer, Qinghua (Edward) Zhang as its Chief Financial Officer and Shujie Wu resigned as Director.

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Tuesday, January 25, 2011

Auditor trail

Resignation of Independent Registered Public Accountants.

By letter dated January 20, 2011, Li & Company, PC advised China Organic Agriculture, Inc. of its resignation as the Company’s independent registered public accounting firm. Li & Company, had served as the Company's independent registered public accounting firm since July 5, 2010.

Li & Company has not issued any report on the Company’s financial statements for any fiscal period. During the fiscal year ended December 31, 2010 and the period from January 1, 2011 to the date of resignation, the Company did not have any disagreements with Li & Company as to any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure and there have been no reportable events.

The Company has provided Li & Company with a copy of the disclosures in this Form 8-K and has requested that Li & Company furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not Li & Company agrees with the Company's statements in this Item 4.01 (a). A copy of the letter furnished by Li & Company in response to that request has been filed as Exhibit 16.1 to this Form 8-K.

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Wednesday, December 22, 2010

CFO Trail

China Organic Agriculture, Inc. headquartered in Liaoning Province, China, and engaged in the trading and distribution of agricultural products, today announced the election effective December 21, 2010 of Mr. Chunyan Liu as its Chairman, and Mr. Edward Zhang as its Chief Financial Officer. Mr. Liu and Mr. Zhang will replace Mr. Kyle Jiang and Mr. Shan Bo, respectively, as Chairman and Chief Financial Officer.

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Tuesday, November 23, 2010

Comments & Business Outlook

2010 Third Quarter Key Financial Items

Revenue of $42.6 million represents an increase from $39.7 million in the third quarter of 2009.

Gross profit was $8.8 million, compared to $11.1 million in the third quarter of 2009.

Net income attributable to CNOA shareholders in the third quarter of 2010 was $1.9 million.

Fully diluted earnings per share in the third quarter of 2010 were $0.03 as compared to $0.06 in the third quarter of 2009.

Changbai Eco-Beverage Co., Ltd. has maintained consistent sales and profit since its acquisition in the first quarter of 2010.

Our revenue has slightly improved in the third quarter but is still restrained by the economic conditions in China. Almost all of the agricultural products we trade have stabilized at a higher market price compared to the previous year which results in our customers being more cautious with market conditions and placing fewer orders at a time.

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Liquidity Requirements

We anticipate that our available funds and cash flows generated from operations will be sufficient to meet our anticipated on-going operating needs for the next twelve months. However, we may need to raise additional capital in order to fund acquisitions and any substantive construction projects. We would expect to raise those funds through credit facilities obtained from lending institutions, the issuance of equity, or a combination of both.

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Monday, August 23, 2010

Comments & Business Outlook

2010 Second Quarter Key Financial Items

Revenue of $31.3 million represents an increase from $30.0 million in the second quarter of 2009.
Gross profit was $8.2 million, compared to $6.9 million in the second quarter of 2009.
Net income attributable to CNOA shareholders in the second quarter of 2010 was $2.80 million.
Fully diluted earnings per share in the second quarter of 2010 were $0.04 as compared to $0.03 in the second quarter of 2009.
The Company estimated that in 2010 there will be a significant growth in the net profit of Changbai Eco-Beverage Co., Ltd, which was acquired in the first quarter of 2010.

“The management is pleased with the results and will seek to continue to attain growth and maximize our shareholders’ value.”