CHRB, going above $5. Message Board

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Strategies & Market Trends : CHRB, going above $5.

CHRB 22.50

+0.4%

Oct 28 3:08 PM EST

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To: CJ Mark who wrote ()	5/22/1997 9:00:00 AM
From: Chris Bommarito	of 145

Have we been scammed? For those of you who are like me and felt that CHRB's large cash position was the saving grace and that the Stock price would soon reflect the book value, guess again. This disturbing fact from the 10-Q: "The Company had a working capital surplus of approximately Rmb310 million (US$37.3 million) as of March 31,1997. On March 28, 1997 and March 31, 1997, the Company completed formal assignments, in the aggregate, of approximately Rmb293 million (US$35.3 million) in bank loans to the Farming Bureau." Looks to me like the CHRB folks made some loans to their buddies at god-only-knows what terms. I don't know about you guys, but I far prefered Cash on hand or a Stock-Buy-Back. Now you can kiss any thoughts of a Buy-Back goodbye. I'm looking to get out now at any miraculous upturn. Are your thoughts about this the same as mine? Am I overreacting?

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