Guangzhao Ind Forest Biotech: plans to move into biofertiliser production in China. Enters into a non-binding MOU with its controlling sh/h - exec director Song Xuemeng and exec chairman Su Min - to acquire from them a 49% stake in Asia Technology Investments (ATIL). Guangzhao wld be approaching the other sh/h of ATIL to acquire the remaining 51% stake…
Company says its "revolutionary" fertiliser does not lead to food contamination as there are no chemicals in its contents, and also promotes the pdtn of higher quality crops and superior yield. Current annual biofertiliser pdtn capacity is ~100k tons, but existing facilities can be upgraded to triple production capacity to 300k tons…
Stock trades at 26.7x P/E.
Technically, stock may have bottomed out at $0.045 in mid March. Since then stock volume and price have been rising positively. Stock currently hovering around initial resistance level of $0.08.
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