You are correct in the fact that they did lose their biggest customer LAST quarter and that is why they have expanded into several marketplaces and introduced new products this quarter to make up for it...
Baywood markets and distributes its branded products internationally into retail and network marketing companies and has established either distribution or registration of its products into the Pacific Rim Countries (China, Malaysia, Hong Kong, Taiwan and Indonesia) as well as Europe (Italy, Germany, Austria, England and Switzerland). Domestically, Baywood is marketing its nutriceuticals under its Natural Healthcare brand into health food stores across the United States.
Previous to this quarter, they strictly operated out of China according to the research I have dug up. Now after losing their biggest client (in China), they expanded into the countries and continents as seen above. As well, they have signed a letter of intent to form a new company in Chili, and have majorly expanded into the U.S. Marketplace. Go read some of their latest news releases which show they have expanded all over the world basically and they were forced to do this after the Chinese customer left.
Go to their webpage and browse around to verify the fact that they have indeed significantly expanded and are no longer dependant on China. They also, according to the newsletter, hired a new international sales staff to increase international sales.
baywoodinternational.com
From Homepage:
As the rapid expansion of the natural products industry continues, Baywood's marketing efforts will increase proportionately for existing areas of penetration and for new areas of distribution where we are
not currently involved based on the evaluation the most viable entry ways into the market. Whether new entry ways are through internal development or through building strategic relationships with other
companies within the industry, Baywood will prevail as a recognized market leader in the natural products industry.
Baywood's new line of nutriceuticals designed for health food store distribution across the United States...
Also, in regards to Choi's holdings, his shares have restrictions:
The shares will bear a restrictive legend that states that the shares are subject to resale restrictions and may be resold only pursuant to a registration statement or in reliance upon a valid exemption from registration.
Just what I was able to find regarding this matter,
Boob |
