Check out LGOV:
Q. What are the shares outstanding and in the float?
A. Authorized shares are 400,000,000 the float is 40,000,000
The amount of shares issued is 210,099,545
Q. What are some of the short term and long term goals of the company?
A. To best answer that question we have included some highlights of the
company below:
1. Management's primary objective is the development of its retail consumer
base.
2.In the future the Company intends to implement a third innovation for the
pipeline distribution system which will be a prepaid "smart card", that will
be inserted into a meter in the consumer's home. This precludes cash flow
and collection problems. Distribution of the prepaid smart card will be
similar to the coupon program in concert with the Bank of Agriculture.
3. To build upon the established position of trust with Xinmao's customer
base using the coupon and insurance method and by allowing the customer to
weigh their purchase; thereby allowing each customer to know, first hand
they are being dealt with fairly and honestly.
4. The Company is researching the feasibility of obtaining a much larger
storage facility that would permit it to purchase large quantities of LPG
when prices are favorable, and sell it when prices are higher.
Q. What is Largo's Assets?
A. Xinmao Petrochemical Company Industrial Ltd. holds a unique license
issued by the Chinese Central Government (National Industrial and Commercial
Registration Administration of China). This license is most valuable because
it permits the Company to operate across provincial borders; whereas,
competitors of the Company are restricted to the geographic area in which
they are located. In addition, the license permits the Company to process
domestic crude oil and sell its by-products; to process and sell LPG to
retail domestic and industrial customers; to manufacture cylinders, stoves,
water heaters, and cigarette lighters and their accessories; and to provide
services in inspection and maintenance of stoves and cylinders for safety
and quality.
Q. What are some of Largo's current projects?
A. The Company has government approval for the exclusive development of
pipeline projects in the counties of Lunan, Fuming, Yiliang, Yuxi, and a
part of Kunming.
Q. Are there any environmental issues; that will have an immediate impact on
the company?
A. Yes, as coal is phased-out a void is left which is being filled by liquid
petroleum gas (LPG) because it is a clean burning, efficient and
transportable energy substitute. It is expected that continued efforts will
be made to replace other unclean burning fuels with LPG, especially in
automobiles and industrial applications, since it is the only viable
alternative fuel resource available to Southern China.
Q. Are there any geopolitical aspects that could have an impact on the
company?
A. No long term difficulties have been experienced and management does not
anticipate any serious detriment to prospects for the Company's success in
China because of the nature of the service a utility company provides that
is in continual demand, and the fact that foreign ownership is not readily
ascertainable by consumers.
Q. Are there any trends or challenges that currently effect the company?
A. The economic growth of China with its huge population, emerging middle
class, and growing consumer sector are trends that management anticipates
will increase the Company's revenues from Xinmao as well as other
anticipated projects. China's young, developing LPG market presents
challenges of improving sales strategies, seeking lowest-cost sources of
goods, implementing efficient management techniques, and developing the
efficiency and effectiveness of human resources.
Q. How many are currently employed by Xinmao?
A. The Chinese subsidiary, Xinmao, is fully staffed with 84 employees,
including a full management staff, which is considered highly competent and
well qualified.
Q. Are there any seasonal factors that will effect the company?
A. Northern China is subject to a wide range of seasonality ranging from
snow in the winter to hot, humid summers. However, moving south, the seasons
and temperatures do not fluctuate as much as in the north. The Xinmao
Company operates in Yunnan Province which, being at an elevation of
approximately 5,500 feet, is known for its moderate and even climate year
around - being slightly cooler in the winter, requiring some heating, while
the summer weather is warm and pleasant. As a result, seasonal factors do
not play a significant role in the Company.
Q. What is the physical accounting year end for the company?
A. Our physical year end for accounting is December 31st.
Q. How is payment for LPG tendered to the company?
A. Currently payment is rendered via pre-paid coupons. At a future date
Xinmao is planning to use "smart meters" in future pipeline developments
that require the customer to go to the Bank of Agriculture and purchase a
prepaid card, similar to a prepaid phone card commonly in use in the U.S.
This will improve cash flow and reduce "slow-pays" and "bad debts".
Q. How many shareholders does the company have to date.
A. At September 30, 1999, the Company had approximately 507 Shareholders of
record. |
