TNBI
Tanke Biosciences Corporation0.0300
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
763.93KP/E (TTM)
-Basic EPS (TTM)
-0.18Dividend Yield
0%Recent Filings
8-K
Auditor engagement terminated
Tanke Biosciences Corporation ended its engagement with independent auditor UHY LLP on December 19, 2013, after the agreement expired post its Q3 2013 10-Q filing. No disagreements arose on accounting or auditing matters, though prior material weaknesses in internal controls were noted. UHY concurred with the company's disclosures in a letter filed as Exhibit 16.1. This shift demands swift auditor replacement to maintain reporting compliance.
8-K
Notes default accelerates payments
Tanke Biosciences defaulted on a $1 million principal payment due September 30, 2013, under an amended agreement for its 8% Senior Convertible Notes, triggering acceleration of the full $7.5 million outstanding principal plus accrued interest and a $460,206 registration delay payment. Strict PRC foreign exchange controls blocked the transfer, with CEO Guixiong Qiu's personal attempt to cover it resulting in seized funds. The company is negotiating a revised schedule but faces immediate remedies from investors. Default persists.
10-Q
Q3 FY2013 results
Tanke Biosciences posted Q3 revenue of $6.0M, down 39.0% y/y from $9.9M amid lingering H7N9 bird flu effects on poultry demand, while gross profit fell 50.0% y/y to $1.7M with margins slipping to 28.0% from 34.2% due to pricing pressures and lower volumes. Operating loss widened to $0.5M from income of $2.2M, driven by higher selling expenses up 30.1% y/y and administrative costs surging 136.6% y/y on R&D investments, yielding diluted EPS of -$0.02 on 13.3M shares. YTD revenue dropped 25.6% y/y to $16.3M, with net loss of $0.9M versus prior income of $0.6M; EPS reconciles without anti-dilution. Cash stood at $5.1M after $1.4M operating inflow, but free cash flow not disclosed in the 10-Q; $7.5M convertible notes remain in default per amendment, alongside $1.9M long-term borrowings at 6.15-7.36%. Organic trace minerals, 78% of sales, bore the brunt of declines. Yet regulatory hurdles in China loom large.
8-K
CFO resigns abruptly
Tanke Biosciences Corporation's CFO Gilbert Lee resigned effective September 30, 2013, citing a career path choice with no disagreements over operations or policies. The board is hunting for a replacement while other officers handle duties interim. Lee offers to aid the Q3 10-Q filing and transition. Smooth handover eases disruption.
8-K
Debt repayment amendment details
Tanke Biosciences amended its 2011 $7.67 million 8% senior convertible notes on August 23, 2013, outlining a structured repayment schedule starting with $1 million by September 30, 2013, and concluding with $2.51 million by March 31, 2015. Holders waived $460,206 in registration delay payments, allowing write-off upon the initial payment, while halting interest accrual if payments stay on track. The company must deliver 500,000 pledged shares by September 30, 2013, or face interest triggers. This eases immediate debt pressure but ties compliance to timely execution.
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