Stock Guru Profile DRGG
Equity Stock Analysis Report on Dragon International
A look at the 10Q Filed for the Quarter Ending September 30, 2006: 10Q Link
There are a few interesting items on the 10Q recently filed by Dragon International. First their inventory of raw materials has decresed due to a rise in sales. Second their prepaid expenses have increased due to the acquisition of materials and their accounts receivable hit close to $5 million. These entries reflect a company that is acquiring new business and growing quickly.
- At September 30, 2006, our inventories of raw materials, work in process and finished goods amounted to $2,199,301, a decrease of $1,094,545, or approximately 33.2%, from June 30, 2006. The inventory decreased due to our increased sales during the three months ended September 30, 2006. The increased sales depleted our inventory levels. We expect our inventory levels to rise as we increase our overall production.
- At September 30, 2006, our prepaid expenses and other amounted to $2,707,711, an increase of $2,626,547, or approximately 3236.1%, from June 30, 2006. The prepaid expenses and other increased due to our increased prepaid import materials during the three months ended September 30, 2006.
- At September 30, 2006 our accounts receivable, was $4,762,590, as compared to $4,938,985 at June 30, 2006 and reflects our best estimate of probable losses. As is customary in the PRC, we extend relatively long payment terms to our customers. Our terms of sale generally require payment within six months, which is considerably longer than customary terms offered in the United States, however, we believe that our terms of sale are customary amongst our competitors for a company of our size within our industry.
It is for all these reasons that Equity Stock Analysis has placed a sixty cent target on DRGG. Be sure to read the report: Equity Stock Analysis Report on DRGG
Source: DRGG
Contact:
DRGG – Dragon International Group Corp.
Bldg 14, Suite A09
29 Dongdu Road
International Trading Center
Ningbo, 315000 China
Website: http://www.drgg.net
Phone: 86-574-56169308
Fax: 86-0574-56169378
SOURCE: Dragon International Group Corp.
About Dragon International Group Corp. Dragon International Group Corp. (OTCBB: DRGG) is one of China’s leading manufacturers and distributors of specialty paper products and packaging materials. DRGG is operating as a manufacturer and distributor of paper and integrated packaging paper products. DRGG has a distribution network covering east and central China. Dragon and its subsidiaries have cultivated strategic relationships with several of the world’s largest and well-known manufacturers of paper and specialty packaging products. For more information, please visit http://www.drgg.net.
SafeHarborand Forward Looking Statement: Certain statements set forth in this article constitute “forward-looking statements.” Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those included within the forward-looking statements, including the Company’s ability to obtain sufficient financing to fund both its internal growth opportunities and acquisition strategy. More information about the potential risks and factors that could affect the Company’s business and financial results is included in the Company’s filings, available via the United States Securities and Exchange Commission at http://www.sec.gov/.
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