China's Leveraged Buyout Spree Not Ending

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Trunkbow Int. (TBOW) enough phantasy left!

Q2 results

Q2 results not as bad as it seems. A steal below $1, especially for the future..............

This company needs special attention and maybe some coverage at SA.

American Lorain (ALN) Q2 results

Q2 results

2012 Second Quarter Financial Review

American Lorain Corporation
Selected Financial Statements in USD ($ in 000s)
					3 months ended		3 months ended	% Increase / Decrease
					6/30/2012		6/30/2011
	Sales				$40,816,760		$35,726,650	14.2%
	Cost of Revenues				($32,316,135)		($28,070,066)	15.1%
	Gross Profit				$8,500,625		$7,656,584	11.0%
		Gross Profit Ratio			20.8%		21.4%
	Income from operations				$5,625,735		$4,974,450	13.1%
	Earnings before tax				$4,969,280		$4,747,488	4.7%
	Net income attributable to common stockholders				$3,330,079		$3,262,451	2.1%
	Diluted earnings per share				$0.10		$0.09	11.1%
	Weighted average diluted shares outstanding				34,507,874		35,030,343	-1.5%

Sino Gas International Holdings Q2 Results

Q2 numbers

Sino Gas International Holdings, Inc.

Consolidated Statements of Income

For the three months and six months ended June 30, 2012 and 2011

(Stated in US Dollars)

						Three Months Ended								Six Months Ended
		Note				6/30/2012				6/30/2011				6/30/2012				6/30/2011
Sales revenue			2(p)			$	10,819,666			$	7,875,152			$	21,573,269			$	15,861,422
Cost of revenue							6,472,799				5,472,200				14,539,830				11,038,044
Gross Profit							4,346,867				2,402,952				7,033,439				4,823,378
Operating Expense
Selling expense							749,948				501,291				1,515,635				1,078,152
General and administrative expense							1,126,767				950,168				2,084,131				2,186,056
Total operating expense							1,876,715				1,451,459				3,599,766				3,264,208
Operating Income							2,470,152				951,493				3,433,673				1,559,170
Other Income/(Expense)
Gain on disposal of property and equipment							-				1,115,903				-				1,115,903
Other income							12,362				10				34,699				345
Other expense							(8,352	)			(43,257	)			(127,094	)			(47,220	)
Interest income							54,647				3,463				155,965				5,528
Interest expense							(853,461	)			(501,687	)			(1,625,765	)			(963,409	)
Total other income/(expense)							(794,805	)			574,432				(1,562,195	)			111,147
Income before tax							1,675,348				1,525,925				1,871,478				1,670,317
Income tax			2(r),12				(91,182	)			(316,646	)			(329,439	)			(354,483	)
Gain/(Loss) from discontinued operations, net of tax							-				105,093				-				105,093
Net income							1,584,166			$	1,314,372			$	1,542,039			$	1,420,927
Net income (loss) attributable to:
Common stockholders						$	1,584,292			$	1,336,138			$	1,542,968			$	1,456,659
Non-controlling interest						$	(126	)		$	(21,766	)		$	(929	)		$	(35,732	)
Earnings per share			2(z),13
Basic						$	0.05			$	0.05			$	0.05			$	0.05
Diluted						$	0.05			$	0.04			$	0.05			$	0.05
Weighted Average Shares Outstanding
Basic							31,793,698				27,157,513				31,793,698				27,157,065
Diluted							31,793,698				36,501,007				31,793,698				27,157,065

Book Value $ 2.58

Cash P/S $0.20

Stock Price $0.43

Low liquidity stock but could spike in the nearby future. On April 28, 2012, Mr. Liu submitted a non-binding proposal letter to the Board of Directors (the “Board”) of the Company (the “Proposal Letter”) for the acquisition of all of the Publicly Held Shares (the “Proposed Transaction”). In the Proposal Letter, Mr. Liu, among other things: (i) proposed to acquire the Publicly Held Shares for $0.48 per share; (ii) reported to the Board on the status of his discussions with potential sources of debt financing; (iii) expressed his intention to finance the Proposed Transaction with a combination of debt and equity, with himself providing the necessary equity from his own holdings of Common Stock; (iv) indicated that he currently has no arrangements with potential sources of debt or equity financing, and that he does not propose to enter into any exclusivity agreement prior to reaching transaction terms approved by the Board; and (v) upon the Board’s approval, he is prepared to proceed with arranging financing and to finalize the terms of the Proposed Transaction in definitive transaction documents.

OFFER HAS TO BE AT LEAST $1.20.................OTHERWISE IT WOULD NOT BE A FAIR OFFER!