I had been wondering how the falling rubber prices were going to affect sales. I still haven't seen any upward movement. Now we will be able to watch and better reference it to income from rubber sales. The following is how CHRB was able to keep from using the 32,000,000 shares owned by Everbright from showing in EPS figures. This along with 10-1 reverse split has caused our value to go down since the posting. Following quotes are from 10-Q recent.
"The computation of primary earnings per share for the three months and
nine months ended September 30, 1996, are based on the weighted
average number of common stock outstanding after giving effect to
dilutive stock options and series B convertible preferred stock, which
are included as common share equivalents using the treasury stock
method and assumed to be converted to common stock, respectively. The
average number of shares of common stock outstanding excludes the
32,000,000 shares of common stock with restricted rights in receiving
dividends or participating in the event of liquidation of the Company,
which might otherwise be payable to holders of the Company's capital
stock. The shares of restricted common stock were issued pursuant to
an Exchange Agreement dated July 22, 1996 (Filed herewith as Exhibit
10.27). The number of shares used in computing the primary earnings
per share and fully diluted earnings per share are 29,395,885 and
31,635,071, respectively."
All this said and done- CHRB is showing what it is capable of doing outside the rubber sales. For me this is a huge YAHOOOOOOOOOOO. "This decrease was offset by the increase in
procurement of materials and supplies by 153%". Better than I expected and just the start I hope. Tony |
