Man Shing Agricultural Holdings Inc., MSAH.OB
1. 1. Name, symbol, bid-ask, shares out:
Man Shing Agricultural Holdings Inc., MSAH, $.55-$1.30, 35.5 million shares outstanding.
2. 10Q and/or 10K link:
sec.gov
3. Brief Description of debt:
The company recently raised 1 million USD through the issue of 10 Debentures and 80,000 shares to China Angel Asset Management. The exercise price on the shares is $2.00. The debentures mature in 3 years and have interest payments set at 8% per annum, payable quarterly. This provides Man Shing with the working capital for securing their additional 2500-acre parcel of land.
4. Other financial info of interest:
Over 500% revenue growth in 2009. Net profit margins over 20%.
5. Main product/technology:
China's largest producer of ginger.
6. Why credible? Partners, Independent validation..:
All of the Company’s farm land has been certified by the Organic Crop Improvement Association and has met the Japan Agricultural Standards for production of organic foods. The Company’s processing factory has also met the requirement of the British Retail Consortium Global Food Standard and the TESCO, a UK supermarket, food safety standards. Under the Company’s close monitoring and supervision program, the Company believes the Company can ensure that all products produced are in compliance with food safety standards from around the world.
7. Why the stock may be a "homerun":
Stock is very thinly-traded despite sound fundamentals. Stock is just waiting for a momentum play especially if it reports great Q1 numbers
8. Any other issues of possible interest: management, recent PRs, legal issues, competitive position, etc..:
On the back of increasing demand and supply shortages in other ginger producing regions, prices for ginger continue to rise - coming out of a 2008 low and still far below historical highs. Man Shing recently increased it's agricultural lease-holdings in China by 45%, an increase that will allow the company to further exploit its position as the leading ginger producer. The increase falls under a 2009 Chinese Government tax exemption incentive that encourages agricultural development, providing further support for Man Shing's continuing high margins. |
