From a news release last year:
RMGG estimates its' gross revenue in China to be in excess of $4,000,000 for the 12 months following the acquisition. It is estimated that $3,000,000 of the revenue will be derived from sales of both field run and graded American ginseng as well as from value-added ginseng products that RMGG will produce in their China facilities. The balance of revenues are expected from contracts to supply Biofarm, a European pharmaceutical company, with raw materials from China for their production plant located in Hungary.
Don't know if that estimate has changed or not. Shares outstanding are 20 million, and the annual financial statements have been delayed, but are expected to be out soon.
It's good to see some new news from the company, although it is slightly vague about the dispute with Biofarm, it appears that things are moving along in the right direction.
Scorpio |
