http://www.sec.gov/Archives/edgar/data/1091164/...483/v149760_10q.htm
u.a.:
The total shares outstanding at May 13, 2009 were 10,351,448
As a result of the Corporate Name Change, our stock symbol changed to "JGBO" with the opening of trading on May 12, 2009 on the OTCBB.
REVENUES.
During the nine months ended March 31, 2009, we had revenues of $86.2 million as compared to revenues of $71.3 million for the nine months ended March 31, 2008, an increase of $15.0 million or approximately 21.0%.
Our revenues include sales to related parties of $0.2 million for the nine months ended March 31, 2009, as compared to $4.6 million for the nine months ended March 31, 2008, a decrease of $4.4 million or approximately 94.7%.
For the three months ended March 31, 2009, we had revenues of $25.7 million as compared to revenues of $26.2 million for the three months ended March 31, 2008, a decrease of $0.5 million or 1.9%.
For the three months ended March 31, 2009, we did not have any revenues from related party as compared to $1.9 million for the three months ended March 31, 2008, a decrease of $1.9 million or 100%.
While the quantities sold for Clarithromycin Sustained-released Tablets and Baobaole chewable tables increased in the three months ended March 31, 2009 as compared to the three months ended March 31, 2008, the decrease in the total revenue was primarily attributable to the decrease of the per unit price by average of 26% for Clarithromycin Sustained-released tablets, Itopride Hydrochloride granules and Baobaole chewable tables, beginning in January 2009.
The three products accounted for approximately 88.6 % of our total revenue for the three months ended March 31, 2009.
In January 2009 ,we restructured our distribution and sales system to sell our products primarily through 28 large independent regional distributors and lowered the per unit prices of the three major products to the distributors; at the same time, we reduce the commission paid to our sales representatives on those products to approximately 5%.
The decrease in the revenue generated from the three major products were partially offset by the increase in revenue from Radix Isatidis Dispersible tablets and other products we acquired in the Hongrui acquisition in January 2009.
The increase in revenue for the nine months ended March 31, 2009 as compared to the nine months ended March 31, 2008 was primarily due to the increase in sales volume of Baobaole chewable tables and the new product, Radix Isatidis Dispersible Tablets released in the second quarter of fiscal year 2009.
We believe that our product sales quantity will continue to grow in remainder of fiscal year 2009 as the market demand for our major products continues to be strong and we have recently launched three products, Yi Mu Cao Gao (a motherwort herb electuary sticky syrup), Gan Mao Zhi Ke Ke Li (an antipyretic and antitussive granule), and Kang Gu Sui Yan Pian (an osteomyelitis treatment tablet) that we acquired from Hongrui under our own brand name. -----------
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