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Strategies & Market Trends : Greater China Junior Stocks

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To: Julius Wong who wrote (755)	1/13/2005 1:21:55 AM
From: Golden Bear	Read Replies (2) of 1992

Dragon (Drug)-Oriental Wave merger may close by end of the week. I estimate annual earnings around 10 cents per share on a fully-diluted basis (60 million shares). I believe they will try to shed their BB status ASAP. They may already be eligible for NAZ small cap. They also have the option of waiting a quarter and then applying for American Stock Exchange. Assuming a 30 forward PE, they could be at $3.00 by May, which would be a prerequisite for the AMEX. Currently trades at $1.20. The strength of the Business Model (over-simplified) is three-part: 1. Expand Dragon's EPO sales by leveraging Oriental Wave's extensive sales force on mainland China 2. Expand Oriental Wave's product sales internationally by leveraging Dragon's international sales contacts. 3. Grow Oriental Wave's chemical manufacturing business on mainland China. The merger is very complimentary across product lines and sales distribution networks. New Market cap is about 75 million. Decent chance that this one may lose its "junior" status by the end of 2005. All my opinion, do your own DD. gb

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