Stockchase Opinions

Andrew McCreath Glg Life Tech GLG-T TOP PICK Mar 30, 2011

Speculative category. Recently did a financing. Based out of Vancouver but operations in China. They modified Stevia plant to be sweeter than what is otherwise available. Company could see revenues of $200 Million this year.
$10.280

Stock price when the opinion was issued

Pharma & Healthcare
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DON'T BUY
They market a natural sweetener, which doesn't give the insulin response that sugar does. Available in health food stores. Worth watching.
DON'T BUY
Markets a natural sweetener. Fairly big in Asia but small in North America. Sales and earnings are growing quite nicely. Had a couple of hiccups and is ahead of itself. Trading at about 30X next year's earnings and about 13X next year's EBITDA. Also sensitive to a higher Cdn$.
WAIT
Have this issue in terms of the China story. Accounting and corporate governance risk. He is concerned about execution risk in China. You can always get back when there is a bounce.