CHDX--US China Industrial Exchange Message Board

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Biotech / Medical : CHDX--US China Industrial Exchange

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To: WWS who wrote (68)	3/31/1999 9:16:00 AM
From: Ted M	of 77

CHDX really looks like a terrific turnaround situation to me, although I'm no expert in those. Yesterday's announcment gave me the final push to buy in due to what would appear to be a much stronger likelihood of future profits. It looked to me like the very large price drop in 1998 was due to the failure of the Chinese clients to pay up on some delivered goods (high accounts receivable), which threatened CHDX's ability to pay their suppliers (high accounts payable). Does anyone know if the accounts receivable have been or will be paid off? It appears to me now with the 30 million letter intent, the cash flow situation is much less of a threat. They reported 98 cents/share today! The real story to me is the book value--currently way over the stock price, and with over 250 employees it is around 15,000 per employee. This sounds extremely low. Nothing is guaranteed, and the YTD numbers still look terrible, but recent events bode very well for the future. That being said, any China investment carries great risk. Other opinions out there? Ted

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