Yongye's Recent Filings Raise Various Red Flags [View article]
john795806: The particular Spray-n-grow formulation has not sold many bottles and has no repeat customers, isn't that right? Please present a link to the formulation, with the % content of all elements in it! What is in 99% of that stuff? On the other hand, Micromax sells at $10 per kg of "micronutrients" content, meaning, at $0.01 for 1g, and a bottle of Shengmingsu has just 1g of "micronutrients," so a bottle of Shengmingsu should be priced at 1c, not $2.14! Get it?
So, here is the point: Spray-n-grow ingredients are unknown (it is a home-grown scam with fake testimonials - and, obviously, the "company" is not viable). YONG's product should be priced at 1c per bottle, based on micronutrients content from a reputable fertilizer marketer. YONG's product "works" only because it is essentially a cheap diluted regular NPK fertilizer.
Micronutrients are cheap ($10 per kg). Fulvic acid is cheap (less than $1 per kg, plus it likely contains heavy metals). A bottle of Shengmingsu contains 1c worth of micronutrients, less than 1c of fulvic acid, and 2c worth of NPK fertilzer. A Coca-Cola can does not cost 100x more than its ingredients.
Yongye's Recent Filings Raise Various Red Flags [View article]
Ryuto A. Kawai: Please provide evidence that the guaiacol used by YONG is a plant/herb extract, rather than "an extract" from coal tar!
Please provide evidence that YONG has claimed several additives on top of NPK and water and fulvic acid for their commercial plant product, manufactured and sold under Registration No: 1655 (the only legally licensed product they can sell)! The statement that you cited ("Developed through years of research, Yongye's Shengmingsu plant and animal nutrient products are primarily developed based on fulvic acid and Chinese herbs.") does not state the presence of any herbs in the plant product, which accounts for more than 95% of reported revenues. The animal product (which accounts for less than 5% of revenues, and I am not even sure whether it is properly licensed) does indeed have herbs in it (based on the patent), while the plant product (which does not contain any herbs) was developed based on research on how to grow Chinese herbs in the desert.
YONG's web site is official and authoritative. Due to your laziness, however, you are unable to grasp the nuances of what is stated (or mistranslated) there, and therefore your claims will be easily debunked by the defense. You will not able to convict the crooks. The district attorney will need better evidence to have any chance of success.
So, please presents any further evidence that YONG has claimed "various other additives including plant/herbs or derivatives on top of NPK to justify their charging a higher price!"
Yongye's Recent Filings Raise Various Red Flags [View article]
john795806: How many grams of "micronutrients" does an 8oz bottle of Spray-n-grow contain? Shengmingsu's bottle contains 1 g of "micronutrients" (Mn+Zn+B+Mo) and is priced for over $2.10. YONG's margins can be anything YONG wants, if 100% of the revenues come from related parties. If YONG is like Coke, and Coke costs 10c to make, then 12oz tin can of Coke should be selling for $10, which it is not. YONG's product "works" only because it has a cheap diluted regular NPK fertilizer in it.
Yongye's Recent Filings Raise Various Red Flags [View article]
manix: YONG's own 2010 10K states, on page 8, that YONG is going in to the coal business. Specifically: "In 2010, we entered into an agreement with Wuchuan Shuntong Humic Acid Company Ltd (“Wuchuan Shuntong”) to acquire the permit for the rights to explore, develop and produce lignite coal resources (“Mineral Right”) in a certain area of Wuchuan County. The cash consideration of the permit is approximately RMB 240 million or USD $35 million."
What does acquiring "the permit for the rights to explore, develop and produce lignite coal resources" have to with agriculture business?
It appears the only sloppy and un-informed "investigator" is you.
Yongye International Response to Blogger's Red Flags Falls Somewhat Short [View article]
rmartin929: I am not surprised you will not work on the math - what if it turns out I am right and YONG reported "incorrect" growth rates?
Since YONG's CFO claims YONG knows the location of each of the 24,000+ stores (he told that to Ian, according to Ian), YONG DID NOT HAVE TO PAY $25 MILLION FOR A LIST OF 2,700 OF THOSE STORES. So, who was the lucky skunk that got the $25 million?
What MLM? What cars? What makes you think that those Chinese posts were not planted, like all the positive and negative articles on the net and other media, manufactured by the propaganda experts of Yongye Group to create the impression of a vibrant yet somewhat controversial business? The "rampant growth" story is simply a carefully-orchestrated myth.
YONG has disclosed the distribution levels in the 10K - provincial level, county level, and stores.
But you are correct - you have no edge. Not even in facilitating fairy tales.
Yongye International Response to Blogger's Red Flags Falls Somewhat Short [View article]
manix: According to YONG's own 2010 10K, page 8, YONG is going into the coal mining business: YONG has prepaid $35 million to "acquire the permit for the rights to explore, develop and produce lignite coal resources "
What humic acid? Who received the $35 million? What gross mistake?
Yongye International Response to Blogger's Red Flags Falls Somewhat Short [View article]
manix: YONG is going into the mining business, according to YONG's own 2010 10K, page 8 ( sec.gov/Archives/edgar... ) : "In 2010, we entered into an agreement with Wuchuan Shuntong Humic Acid Company Ltd (“Wuchuan Shuntong”) to acquire the permit for the rights to explore, develop and produce lignite coal resources (“Mineral Right”) in a certain area of Wuchuan County. The cash consideration of the permit is approximately RMB 240 million or USD $35 million. "
Yongye's Recent Filings Raise Various Red Flags [View article]
manix: I believe you are lying that Ian thought YONG "were going into the bitimous coal mining business." You have provided no evidence whatsoever that he thought that.
But YONG's own 10K states, page 8, "In 2010, we entered into an agreement with Wuchuan Shuntong Humic Acid Company Ltd (“Wuchuan Shuntong”) to acquire the permit for the rights to explore, develop and produce lignite coal resources (“Mineral Right”) in a certain area of Wuchuan County. The cash consideration of the permit is approximately RMB 240 million or USD $35 million."
Yongye's Recent Filings Raise Various Red Flags [View article]
1. No. At least not according to the 2010 10K, which mentions no Yongye Group and shows the corporate structure of YONG in a nice picture.
2. Fertilizer prices are available for anybody to see. YONG's product is priced 100x vs its content.
3. In your profession, what is the price of 200g NPK plus 10g micronutrients?
4. No, my assumption is that SEC does not read the 10Ks it receives unless forced to. Please provide your evidence that SEC has read YONG's 10K and that it doesn't think YONG is violating SEC Regulation S-K on two counts.
Turns out my simple question is so scary that YONG is now on record claiming that "there is nothing wrong" with violating SEC Regulation S-K on two counts (refusing to reveal the names of the significant customers and the identity of the beneficial owner).
Yongye's Recent Filings Raise Various Red Flags [View article]
manix: No, YONG did not explain it. YONG claims to be unaware of the reasons for the variability - it claims that it is due to "variable buying habits" by the distributors and that those habits are the distributors' own business. What happened to managing the well-oiled "distribution network?" And what new product? The plant product has been selling (allegedly) since 2007. KPMG signed off on Lernout & Hauspie too ( www.bizjournals.com/bo... ).
Yongye's Recent Filings Raise Various Red Flags [View article]
So, here is the point: Spray-n-grow ingredients are unknown (it is a home-grown scam with fake testimonials - and, obviously, the "company" is not viable). YONG's product should be priced at 1c per bottle, based on micronutrients content from a reputable fertilizer marketer. YONG's product "works" only because it is essentially a cheap diluted regular NPK fertilizer.
Micronutrients are cheap ($10 per kg). Fulvic acid is cheap (less than $1 per kg, plus it likely contains heavy metals). A bottle of Shengmingsu contains 1c worth of micronutrients, less than 1c of fulvic acid, and 2c worth of NPK fertilzer. A Coca-Cola can does not cost 100x more than its ingredients.
How is that?
Yongye's Recent Filings Raise Various Red Flags [View article]
Please provide evidence that YONG has claimed several additives on top of NPK and water and fulvic acid for their commercial plant product, manufactured and sold under Registration No: 1655 (the only legally licensed product they can sell)! The statement that you cited ("Developed through years of research, Yongye's Shengmingsu plant and animal nutrient products are primarily developed based on fulvic acid and Chinese herbs.") does not state the presence of any herbs in the plant product, which accounts for more than 95% of reported revenues. The animal product (which accounts for less than 5% of revenues, and I am not even sure whether it is properly licensed) does indeed have herbs in it (based on the patent), while the plant product (which does not contain any herbs) was developed based on research on how to grow Chinese herbs in the desert.
YONG's web site is official and authoritative. Due to your laziness, however, you are unable to grasp the nuances of what is stated (or mistranslated) there, and therefore your claims will be easily debunked by the defense. You will not able to convict the crooks. The district attorney will need better evidence to have any chance of success.
So, please presents any further evidence that YONG has claimed "various other additives including plant/herbs or derivatives on top of NPK to justify their charging a higher price!"
Yongye's Recent Filings Raise Various Red Flags [View article]
Yongye's Recent Filings Raise Various Red Flags [View article]
What does acquiring "the permit for the rights to explore, develop and produce lignite coal resources" have to with agriculture business?
It appears the only sloppy and un-informed "investigator" is you.
Yongye International Response to Blogger's Red Flags Falls Somewhat Short [View article]
Since YONG's CFO claims YONG knows the location of each of the 24,000+ stores (he told that to Ian, according to Ian), YONG DID NOT HAVE TO PAY $25 MILLION FOR A LIST OF 2,700 OF THOSE STORES. So, who was the lucky skunk that got the $25 million?
What MLM? What cars? What makes you think that those Chinese posts were not planted, like all the positive and negative articles on the net and other media, manufactured by the propaganda experts of Yongye Group to create the impression of a vibrant yet somewhat controversial business? The "rampant growth" story is simply a carefully-orchestrated myth.
YONG has disclosed the distribution levels in the 10K - provincial level, county level, and stores.
But you are correct - you have no edge. Not even in facilitating fairy tales.
Yongye International Response to Blogger's Red Flags Falls Somewhat Short [View article]
What humic acid? Who received the $35 million? What gross mistake?
Yongye International Response to Blogger's Red Flags Falls Somewhat Short [View article]
Yongye's Recent Filings Raise Various Red Flags [View article]
Yongye's Recent Filings Raise Various Red Flags [View article]
Yongye's Recent Filings Raise Various Red Flags [View article]
Yongye's Recent Filings Raise Various Red Flags [View article]
But YONG's own 10K states, page 8, "In 2010, we entered into an agreement with Wuchuan Shuntong Humic Acid Company Ltd (“Wuchuan Shuntong”) to acquire the permit for the rights to explore, develop and produce lignite coal resources (“Mineral Right”) in a certain area of Wuchuan County. The cash consideration of the permit is approximately RMB 240 million or USD $35 million."
Yongye's Recent Filings Raise Various Red Flags [View article]
Yongye's Recent Filings Raise Various Red Flags [View article]
2. Fertilizer prices are available for anybody to see. YONG's product is priced 100x vs its content.
3. In your profession, what is the price of 200g NPK plus 10g micronutrients?
4. No, my assumption is that SEC does not read the 10Ks it receives unless forced to. Please provide your evidence that SEC has read YONG's 10K and that it doesn't think YONG is violating SEC Regulation S-K on two counts.
Turns out my simple question is so scary that YONG is now on record claiming that "there is nothing wrong" with violating SEC Regulation S-K on two counts (refusing to reveal the names of the significant customers and the identity of the beneficial owner).
Yongye's Recent Filings Raise Various Red Flags [View article]
Yongye's Recent Filings Raise Various Red Flags [View article]