China Yct Intl (PINK:CYIG)

CYIG reported preliminary results for its fiscal 2009 third quarter ended December:

• Sales Increased 60.4% Compared to FYQ3 2008 to $8.63 million.
• Net earnings increased 125% to approximately $2.19 million compared to FYQ3 2008 net   income of $0.97 million.

GeoTeam® Comment:  The company did not provide an EPS figure for the third quarter. Extrapolating EPS from the outstanding shares of 29.3 million yields about $.07 .  However, using 29.3 million shares may be a little presumptuous, on a going forward basis, as a result of some commentary from the second quarter SEC filling:

"In order to fully implement our business plan, however, we will require capital contributions far in excess of our current asset value. Our budget for bringing our manufacturing facility to an operating level that assures profitability is $10 million. To fully implement our business plan - including development of a facility to utilize our proprietary method of extracting flavones from ginkgo by using enzyme technology - we will need $40 million. Our expectation, therefore, is that we will seek to access the capital markets in both the U.S. and China to obtain the funds we require. At the present time, however, we do not have commitments of funds from any source."

This may cause some investors to approach CYIG with caution until more details on this matter become available. 

 Source: Marketwire (January 26, 2009)