Q3 2020 Gulf Resources Inc Earnings Call
Greetings and welcome to the Gulf Resources, 2023rd quarter Earnings Conference. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance. During the conference. Please press star zero on your telephone keypad as a reminder, this conference is being.
Recorded for the now my pleasure to introduce your host Helen Zhu. Thank you Helen you may begin.
Okay. Thank all quite good volume maybe.
For me.
For those Lcs Johnny.
Yes, and net welcome all free to coffee.
Well, that's what I'm trying to keep our net conference call My net <unk> and <unk>.
The company see all the companies have shopping deal for John asked people to growth.
It does and why do you Oh, no that'd be cool okay. Thank the nice thing that's going to Oh, Yes, you can.
Simple nature.
GAAP coffee Safi incorporation.
It's me other products, maybe didn't mean all things equal.
Right 75, or the securities net.
For the Sweet and I'm sure, it's free do best fixed.
<unk> expenses for the school.
[laughter] subject to pickup cranky private school.
Actual results may be for some that's because they are taking to account for a number that's all.
For me that case.
He told me that now can be subject to the <unk> kilometer I'd be for these conditions in China.
So I'll share it could be it could be like.
Future price that you'd like to make and protection capabilities sheep.
Shipments to GAAP nice market acceptance of new and.
She can talk about.
You should know company share from ICSI Kim.
New competition from the bromine.
Hi.
Hi, Nicole products yet.
Changing technology, I think you have to make future bromine assets and various other factors beyond.
Companies control.
Oh for booking scheme that's.
For active calling flight yeah empowered by this cautionary statement.
And the fact that steep hills music homepage for Oh Wow.
We've actually seen Gulf free sloppy [laughter] field.
No obligation to me me Oh, I don't see any form in net told me that event also can compete I'll pick a date for the school.
Accordingly outcomes heap leach expecting share, reflecting invoked well that you've seen that I leave simple and be a cabbie no. Other affiliates such will prove to be correct.
I can ship I mean, what's right for the company seem Triple for me the President's day most of my teammates. That's two day, that's picking up November 2000 price.
For young adults, you I'm able to listen to the entire call at this time, a replay will be available at the company's website. The call you also [laughter] well sort of net cash.
And then the link is accessible through our website. So cheap okay. I'll pass to me you should only be up for the details.
Before I give you a call okay I'm back to tens of cool <unk>, that's Shelbyville, Oh, Yeah, Oh for some opening remarks it was on cash.
[laughter].
I don't know why you talked about kind of how I see oney, Arnie and don't do funky to keep our uniquely.
[noise] sudden share count.
No one day chunky, we're going to be no I know some cash or try to Oh problem. She has been share yellow trucks teaching junk.
[noise] downward for the easy I couldn't tell you for some time for sure.
So you will flow Dawn wash and show interest you cool trimmed up.
Nishu I found out she cheap.
Yeah Yeah.
She can go I'm being dual bottle she doesn't show it.
Non-GAAP.
Oh My school for dosing you go a channel where youre talking about should shoot.
Well I missed what you need to share a male share leader.
Welcome all fields for Bobby Psaki, so called taxes and any other corporate conference call for years ago Adama for the closing off my net temple competes shambled for vacation so he couldn't improving environmental protection.
Ive, some oh, maybe I will.
Protection.
Hobbies like Keysight, Mickey mouse well for the most trucking type for the Peach tree then the weight per package size, a copy biking biology.
I'd be appealed it I'm pretty cheap interest he coaches for the income.
Its employees and the share how does that.
No price event, so what happened before.
[laughter] well my gosh I'm not sure why they would not yet Tony thanks for the cheap on its own so kinda back your friends, you did or yet you don't call [noise].
Well for the aging cool data omni channel should she also for your hand, how good no.
Good share goes how do you find you do you see your potential.
[laughter].
But you know for the yearly sales, which I got some don't Albertsons RCD shop.
She is sound and she should right. You said you do you definitely see growth.
Let's see it would be.
Samples for.
Really it's a lot cheaper we used truck that's true.
Well I feel for the job well done.
Oh, sure time, which index fiction I'm sure Guy you feel like you need a piece that you too.
Now we are beginning to see the light at the end of the time, though as you can see from our price for needs. We have the Paul Huet incredibly well for the Uh huh.
We have continued to young top class action, Oh, Oh operating margin and of course all day.
Actually.
I mean, it's actually Oh, good coffee in the so called [laughter].
Sorry, I was going to plateau, well know quite for bromine I'd be quick I moved up 21%.
In the country.
No we watch it it's called that out.
Oh go well for us anymore for <unk>.
While we are not making calls for me.
Well me price. It's me me I can get it.
Hi, Matt well, we should have a pool of people for color.
[noise] actually go income Onebeacon GAAP high for Gray each other we show, we usually use and how should your meal security me [noise].
Since you're a g. we [noise].
[noise] comedy dollar show some share some dollar terms you should show.
We shouldn't machines for Josh I mean that shows what are your interest for me or yeah look like.
She died she passenger I can come back she does she will talk about how doctors for London can she Sharon will definitely [laughter].
[noise] for comedy is applicable John I thought for Tom sheets, we.
Yeah, Tom for job number on easier comps.
<unk> gross margin trend.
She.
And I will not you don't want them to be kind of teaching do tend to go to talk to you.
Okay actually I found that Oh, we got to keep the commission hi for Nike, Matt I'll be non <unk>.
No.
Hi seems to be a cheap Oh, you know pool profitability was a strong market for bromine and Oh current effect shaping up for each year.
We are increasingly optimistic they go for.
Yeah, just a pool all outdoor sweep patchy.
Completing construction of our new cash patchy and the rest of the natural gas production.
In the near future you can see though can you share downtime taken share that that GAAP, you'll be able to understand the opt to keep the company you need we have you thought about that.
So now let me turn the call back to help them to review other that's quite tell me that.
Now I know you've talked about this a couple of resolved.
That's no cash revenue.
Net revenue was Hum 5 million for which he that Ukraine I guess.
Okay, some seem quite often when Nike and.
No [laughter] like down from the second quarter.
Oh I'm sorry.
I'm very pleased to be successfully done a perception our cars for if we can actually.
We can you share of lump sum operation to approximately $2.9 million from searching for like last year.
Approximately 8.3 net that you've appointed yes.
Our next you cash no more than non mall from 69.9 million thought that [laughter] fix.
6.7 $6.6 million.
Oh, no income statement, maybe be looking to reinvest it because so many of our business I know.
Oh no construction.
It's just came on late losses on our chemical Sketchy Matros day project and the coal volume of course satisfactory.
I wish him. This business also had a substantial depreciation I'm more conviction.
Well not Investor day is a better understanding.
We have provided a momentum all policy that not all for that.
Yes.
These numbers, we present for the best estimates I'll make it much but I'm not the other team.
Yeah.
So we estimate that the full operating effectively made a net policy index set all time low Oh approximately.
Reported one maybe I'm talking about this business also had coupons free money and depreciation, which we are providing I can make heat beat I mean for before interest taxes depreciation Oh.
Approximately five point for me that though.
So net net okay the balance sheet.
No most of our that's making it work flow for federal yet because rectification, hi, some net chemo and I'll be back here and so we have about a margin PT Neal catchy as appealing new wells out.
Our balance sheet remains strong cash.
At the end up at the hotel was.
$95.6 million.
Oh 9.9, Dollarseight 0.6.
Six cents per share based on a number of shares outstanding.
Net cash interest the catch my notes on that day.
Why.
He was like for you didn't talk all eight or 13 cents per share we had net cash to complete the construction of a technical section.
My wheels, and beautiful I called back, saying, our three close for me I could stuff that cheap.
As of June additional Nitro gas meal for truck all.
Our book value per black.
863 point.
Oh, I think I 77 cents per share.
We have I like the eight yes for because I'm not so today for the shutdown.
Yes, I'll be Ken I shareholders' equity of you being no other cycle that question for high [laughter] like for example, the gap average for trail quite simple.
Like our current book value and the shares outstanding for the Q.
Hi, I'm a shabby for.
$1.44 cents to 73 cents, we got average Oh, she got attention once it somehow.
I'm, not suggesting that the and I'll just a mouse the on the other you wouldn't be other backwards [laughter].
[laughter] football net that's now Darren for the future losses up so I mean, we're always out she wasn't yet and.
That will deal we were fully operational activity for the baby we.
We look for what Paul why didn't we invest pets non time protection as soon as we have a bad moving.
Non-GAAP you have the cash flow patch we.
We have day.
He can you can you pull that improvement patch for more than 20 other.
No no we had positive cash flow from operation reported.
Compared to a loss from operations off so I sort of media data, you've got pretty easy yes, yes.
9.9 for the public plan pretty much compared to 57.3 day easier for them then.
In total our net cash flow was one.
6 million compared to 69.6 million.
Manny Oh for all your investments behind that and the profitable operation for from all thinking property.
For cooking, though I can't keep cash flow in the future.
No. That's okay. The second month simple motion for he left for the kind of from a gross out.
Well, I mean and post has actually gone up.
Part that can affect called net.
Revenue increased to 10.5 million blowback from full price.
I mean creates hundreds such pricing.
Oh sequential beaches the revenue increase.
Oh for that.
In the so called that well I mean, nothing yields increased to 9.2 media I increase.
I guess you can question compare for the previous yes.
I'm, just 5% yeah 'cause effect.
After that.
During the quarter, we felt 2301 pumps, Oklahoma.
Compared to the 1222 accounts second quarter and one done I mean, what will be the same for previous.
The volume business had GAAP operating profit almost 2 million compared to the losses like onto moving in the same costs out of the previous year and a loss of one party fighting in the second quarter of 2020.
Net income that you see real progress.
Making into problem.
The price of bromine continue to increase interest.
Moving to light was RMB around approximately 20 <unk> on.
7000 per home.
By the end of September was up approximately 30000 RMB per.
Total Obama because each day and be lucky to Belgium, and the 278.
Oh for change in bromine price.
May be the Gulf call me for future revenue.
We expect that well, it's actually net fourth quarter will be seen no exactly net.
We have price you think packed revenue and profit.
Wouldn't include campaign as neat new baby, if I'm wrong deposits remain at current levels, we expect the profit pool in.
MBR for clutter.
So the company continue to be optimistic about getting approvals for sachi, non though to non but it's not the pen.
By death force pod for cash.
Next year, yes.
Yeah, Yeah, I'd be net Bakken approvals as a dominant focuses on for Doug prevention as well as rectification so that.
A novel Tiphone net net keen net that's not net came up that's not enjoy the propulsion population.
For love to play they Shouldnt regulation may require the company to modify some off the company's current echoes that sandal sales hi, Oliver the price do you mean, yeah feel optimistic about receiving approval I do not see income.
Even with this approval.
Kinda Gulf were making good progress on the construction of our cash catchy affected Ricky we have so many moving.
Oh, the beach I I'm well construction.
Have we made for the Oh each other construction, we continue to estimate for the cost at $15 million.
To date, we have spent about $18.5 million.
You are not even to compete for construction the needle sometimes he wants me to make because it takes six months to install and past Oh, Okay Mitch.
Digging trial production.
Two dozen 22.
Moving to make popped a strongly Penn from this team that's net net.
Net true yes.
You for the shutdown collecting occasion, all chemical business, how that all quaking piece.
People cooperate cost uptime for the $5.5 million is yet to be done.
16, and it's so different hands off yeah 2015, well.
Well Neil that she will be smaller than the combined to offset cheap.
The company expects it to to make I assume that's all for the margin as we plan to focus more on will have margin.
See if you can get for that.
Yeah, Oh peacemaking by the progress, we're making on construction of our new that's henkel fetches.
No it's not for that's the type of neutral day project.
The company continues to be encouraged by the opportunity to produce natural gas on a blind products each tranche for me.
I cannot cope previously Petro China be Cavalier of natural gas income ballpark, it's close to pardon me call cash though.
For me, it's called we could have a material impact on the company I have my open opportunities for a company that the timing of your more focus on finalizing the plan for.
Gotcha and that is calling for patient Nobody's talked <unk> area.
Yes, I do share.
The company Black for policy, maybe can pay cash for the natural gas and wind project approvals we.
The nature of the Guy Monkey pox net after they've gotten them, having someone like the NAV as resource planning for for fraud called me.
At the moment, we are not able to make them. We can be can for production, but we remain quite optimistic means that we will be able to participate on natural gas and wind pataki sequentially.
All credit developments.
Yeah, Yeah, exactly our websites, it's outbid office back will be improved the content and actually I could be correct. You should also come Tito to repeat that.
The websites that car mean compelling solutions would be the only through my website design that that's helped to have them be section.
I did Miss no indicates we are working on long time for them that the cash share with the investor.
One of the problems that we have to almost then I'm actually now that thousand net.
For example, we thought we would have all the money in bromine and crude zone that cheap approved that'd be Pat I'm sure. The government does he see Oh.
Non didnt took on death lack control all though we are working to come up with that methodology that can be a lot less cash flow I understand a long time for that and the timing issues involved.
Well.
Our cash that cheap compete keep maybe you can yeah can focus the we price increase team, our stock price and who for classes attracting new investors.
So net net we pay the maximum heat cool <unk> not as you can see that the comp making solid progress in blending up a.
The car and bromine and crude salt that sneaky.
Yeah, Pete I'll pay can be made to make a profit this quarter and look for to the MPAR compete finally, making a profit.
We have like slightly above 10 keep in our chemical business.
Evening, we'll focus on high margin on the schedule.
Right income encouraged by what we see Petrochina mean, Kimball, Tom and I think it.
It could be benefits the company.
I can you can see for all cracks me for.
On the common to this call that Youre walking hot compose right I'll come back to you.
It's more of molecules for information, we look for to share our momentum plan for me.
That's all for this call. It just seems to me like I do see people for you any net.
Imagine what he has <unk> bank for the momentum that I'm proud of the common core as well yeah, I know had strong be looking into the future.
And I like psyche by what commodity.
So nothing net opt for the kids and infection.
Hi, operating.
Thank you we will now be conducting a question and answer session.
If you would like US for question. Please press star one on your telephone keypad, a confirmation tone will indicate that your line is in the question queue.
You May proceed for two if you would like to remove your question for MCU for participants using speaker equipment for may be necessary to pick up your handset before pressing the circuit.
One moment, please while we poll for questions.
[noise] [noise] [noise]. Thank you. Our first question comes from Alain per Rocco private Investor. Please proceed.
With your question [laughter], good morning old [laughter], so what I look for to flow [laughter] country to fully reserved [laughter].
Pretty good but couldn't mainly the Merck for it the other question about.
He's ultrus it didn't work that's it's kind of it's a price they see this took a walk.
That's right.
It's about 50% of the see the walk the trail for older people for making plan.
[laughter].
Yeah for Hartley without fuel steel mining, let's speak slowly and to be quite the volume [noise] zone.
Down to five for me.
Sorry, sorry.
Could you repeat I mean do you.
Oh do lightly guilty because they'll walk [laughter]. Okay. [laughter]. My question is about just took this step for walk restricted stock awards that you had in this quarter the two for true [laughter].
Free 5 million Gulf.
In that she no other than I mean.
Right, Okay, but you know I mean, she said in restricted stock so I won't get little bit understanding of what kinda free streaks shouldn't you out on the stocks.
She said Gulf 15 immediately.
They tend to people who are just I mean, DFI says Oh directors skins day say for stroke.
Oh, you share any kind of restriction.
Yeah.
Okay. Okay.
Okay got it thank you.
I know Tony Hawk took a deal in the <unk> and Linda.
Hi, I'm not a them for sure why you can see just what your dual socket is well on it calls for a young woman that shut.
I wanted to cash flow, yes, yen Ching Tao on that exponential their share whole margin should pumps for both commercial potential.
Joel what's giving you that happen.
No no.
Hi.
Hi, Alan Thank you for other question.
She has with CIC Pete did you.
And they had net.
CIC share setting.
And do you share had for me to give you right for peaceful.
Reach cash back the money six months to one year deposits.
On Sunday.
Condition.
I don't want for people.
So you mean for really get to the shale script trends the shales in six months to a year.
At least six months, that's it's depends on those little for them for such seeking income. That's is the no other puts and pets have two kids Sotheby's accompanied go council.
Okay, I couldn't even more for some of the park central jokes defending share and talk to sort of turning share. These are people who knows we could.
So then put other huge impact for him to share price.
No day, the limitation on the TV volume as the LP. So.
Yes.
You can see there I see news on each other bands indication like low sat in volume.
And why do you feel free.
Net where did you change for his she has interest what you have to deposits, which looks stock options.
Okay I just got not just for it just got them again I just wanted to tell that Shimon.
Oh I am teachers on provision local natuzzi felt like a push it's just for them.
Hmm.
[laughter].
Are you going for this is for US are you and I know you gave me a girl Gulf War faculty They don't show.
Sure enough for country coordinate your share a share shooting no channel just for sure should start she's on she's for initial hope on the sales you Sunshine for each and mm for CGI Masa BACE shot for she'll share you got your gross just share a gun to shoot for but you have to free all children Nicholson from Oh, Oh, Oh something.
<unk> net.
<unk> GAAP Airport Gulf one for color you can go to fish social.
Uh huh.
[noise] hi, because it's not based on previous yes, it's just a common share the option to itself and relative I'll, just said I'm for access.
Though they sent me a Chinese government required the mortgage she picked it up.
Individuals kept fighting I live videos.
So.
Yes, okay. Okay.
He he could cause for that the videos to evaluate and do their own capex fighting.
Based on the cost evaluation and the VAT tax policy in China local.
So that's where it comes because he says it's time for each for the pipes are you looking for great channel are you getting funding, it's tricky interest for <unk> ownership of feel free Susan directors.
Sorry.
Are you planning on funding net.
So it's easy for you to shrink.
Location for the direct cause interfaces.
Because I didn't see any yet.
Then you find a new direct gross.
No I mean, you all supposed to win your change in share ownership by the directors and other pieces you're supposed to find a net 13 from.
I'm just asking when are you going to fight.
Oh I'm sorry.
Okay, you don't see anything that's why.
Does that mean for months out for you like a spouse eight HM.
Okay. So oh wait to see how you still gotta keep I'm curious to see how much was given to your p. physicist directors.
Okay. If you need to I think I mean, India is being.
<unk>.
Okay.
And can I ask another question.
I guess for me Okay. The other question I mean, it's only two for weather in Q3 I read in interest for report that because there's lots of rain in trial, you're not gross production price being.
Being impacted by a number of companies was school infected by such a bad weather.
Q3, two ryanair gross.
Okay.
Okay, I, just I guess I like to enable them to share.
He kind of if you do other showing that wasn't hot dip down a male young other truthful sajid, though we've been for bench I mentioned in her shopping Oh My gosh.
Now on that how they have share Nielsen machine Jama Dallas is even additional.
Two free I didn't hear something they know how topics such as the media I think.
No.
Moving to death, I guess did you know shellfish mouse <unk> single mom.
A woman she is a share on Jim do liable for that you deal with other woman since I know.
The non season due to price your share hold you back on flow.
The gross pressure can get into other hopefully share caught [laughter].
Josh you don't want us to help offset each other.
Oh, just shoot for sure on how much into the hall or two that you're doing on front, Oh I should develop though so no. One channel woman you can juggle still want cash Oh, probably should talk show juggling generally share culture. That's a situation. So I don't know why don't you the hypothesis for partner Shuffle, Hey wasn't done.
She had a contract you said you do.
They are simple drew for Barclays. Your she'll be there you go watch them all the cash did up for sure but.
But these people what you're saying.
HM Okay.
Hi, Alan.
Because it gets traction that traction on technical.
Sanchez net payment for <unk> based on the progress.
So by end of second quarter income he makes your payments towards its cash strapped had cash and any other color also made step towards for the construction.
For two the contractors'.
By force caused that company net to buy you create the bench and it had become hot all for the construction.
For these contracts.
[laughter] don't think started for my question. My question was about the weather the rain in June I cannot gross [laughter], Oh, I need it impacted for production.
Oh, they need a rise or in line with other enjoy your net gross [laughter].
Oh I understand there wasn't much of rain and other companies have reported that their production was impacted by the range I want you to know if you were impacted by the revenue should not impact on your production.
Oh, okay.
No okay.
Oh, sorry, Joe Gingo ones is just wanted to see that buying additional now.
I kinda knowledge logical to assume that you'll notice that your share you'll find a day woman cash with Josh.
Kenya, and ER volume due on the other jumpy does show.
For your meal woman moving to a bit about excuse for life.
Oh, so does that mean, they yeah, you for that and also in the <unk> had an impact on the company's work.
No. So that's why he's not nice shape.
Okay, just wanted to know.
Okay. Thank you very much every year for sure. Okay. Good for nice day. Thank you for heck with no commodity you could share net.
Thank you. Our next question comes from Jordan Warren.
Private Investor. Please proceed with your question.
Hello.
I was wondering.
It when are you going to at least for three to five year plan going into <unk>.
[noise] [noise] [noise], Oh, I, just don't know I guess, you gave a bunch of them actually like each other than that you're doing.
Hi, I'm not going to do this in my opinion, so I found that you'll keep that.
Mm Hmm.
Right Union HM GMT, there. So I think I mean, you actually there's a whole among oh, we fight.
Minion day, you got to Cook.
And she flow that's.
Let's see yes, sendo when your net you highlight a harsh y'all Oh on GAAP income total sometimes you hope for them. So you go no one really good.
Sure.
Lisa.
Okay. Okay.
So the real problem like a preliminary fagundes, maybe site and all the Guinea off next year for day, Yeah 2021.
All right Michael.
Five years, the Guy young.
We have to wait until our chemicals have chief back to its it production then it can provide.
Otherwise all right.
I have one last question.
Are you guys still trying to buy back shares.
No don't usually then he lives each other because you're going to ship for high quality people yeah.
[noise], which then Neil Cataldi woman that you thought your share of the gene to other young younger fleet for some catch up.
We now can see anywhere bulky currently because we want to use the cash on hand tool for them back the comedy Central zone.
Backing operation and they can see there about peak run Oh outside she had been backing operation.
All right. Thank you do you have a good day.
You are welcome all the time you had good now.
Yep.
Thank you. Thank you. Our next question comes from Max Warren Private Investor. Please proceed with your question.
How many tons of bromide candies for factories produce a year at peak performance.
Do anymore, because now we only have full saturating called to action, Yeah, I mean, I'm just talking about the Bobby.
I'm just talking about these for factories.
So you need a Mexican margin production, which can have.
Yes, yes, yes.
Okay.
Net interest margin how they can then she has day, sometimes actually though.
Sure. So Tom I know, you'll see that that show for triangle dialogue with other.
Yes.
<unk> for the.
Maybe a higher share menu.
Yeah.
So nice to do me a year all other your mouth.
A year I mean, how much brought my talk about a year.
Yep Yep Yep Yep Yep.
Oh, you know when you try and down just didn't feel.
He doesn't have them channel.
Uh huh.
[noise] because it took out even though that's for sure.
[laughter], just other <unk>, which was a channel.
Oh, So just help a woman who share interest hi meals, a day I'm yourself from Union that it didn't you get to that you for a Isa and that's it for me he Gi bleeds right mm.
Well tendency for you.
Well generally for that.
Mm.
Okay.
And next if you didn't do a price show a net yet for next year. That's the same for next year.
Amounting to be around 5000 next time.
Well would be for current Rami, if that's true.
Awesome, Okay. Thanks for all the more.
Okay.
Mm.
Okay. Okay.
Wouldn't management be willing to sell the entire company to pay for China or any other company for book value $26 per share.
Just show gold fish for what we call the attack on for that to show all day to.
Oh I'm sure you all and welcome to more change I mean cadre shot me actually making the downside.
Hopefully Yankee to the channel.
Yeah.
ER for jumped on the HM woman.
Woman, Mitch and just for a I mean whats your dollar for watching them very cool.
You all year and so your meal cardiology, though to go once you do that when she currently a term sheet you for that don't someone by Oh, We got to watch you kinda hard for them to go back for the Florida.
Mm Hmm okay.
So until now they did not have this view and natural Oprah yet but.
We think at this time I'm questioning its now.
This positive free comedy momentum that we should be better.
I see that all provide back home with director of the board.
Okay, and that's saying you actually watch for Jesus will stay title XI just for the for going for you and I know that on the T cell nickel should go country Josh.
But I personally think I have confidence in this company.
I am making wanting to work hard to improve continually improve the company's long term that is.
Awesome.
Thank you.
Okay, but I couldn't name for Goodnight.
Okay.
Thank you. Our next question comes from landing Randy like <unk>, a private Investor. Please proceed with your question.
Hey, Allen how are you doing.
I'm fine how are you going to be.
Oh, good I reported not with me.
Just a couple of questions that I'm not going to keep this warm because some of them already been answered, but I bet appeal PR for on that we discussed that they're up for several quarters ago.
You know there's no volume in the stock its kind of just.
So with the Orchard right at the moment, there just doesn't seem to be any interest you.
You've got a good story to put out there.
Watt will walk you why can't we are somebody you can't do it all.
Second quick question is have you all discuss anything with Petrochina about that the natural gas field, what their plans are going for things like that and you know it and third of all have you don't even thought about asking you know Morgan Stanley Goldman Sachs, All the big investment banking.
Hi, guys, you're there, including bank of China, and just you know throw out auctions. The all are trying hard to do something you noted and I I would think the officers and the majority shareholder would want to make money and we just haven't made any money Oh Oh. So those are my three questions and thank you.
Okay, Hi, Randy I think for your first question just want to make keep coming up for questions. In me why don't you hire somebody in NYCDA. It's turned on I I could handle me makes it here I mean, no no. Yes like you can't do it all I mean, you can't do it.
Oh, yes, it for U.S. investors. Your your stories, obviously not out there and I know we talk about flow, we play or are we getting somebody some so I don't know sometime way okay maybe.
Okay. So what's your second question.
It was about have you all had any discussions with the executives of Petro China about the natural gas deal you know.
They talk to you all about anything they're thinking about I mean, what is taken for long up there or is that just local governments just kinda taken their cash flow.
That's probably a big deal, but you would think with Petrochina involved they would.
Probably hurry along a little bit faster for me and the third one was you know with all the big investment.
I just wish at some point, we might interact with one of those just discuss other options out there to get the stock price up we'll we'll do that I would like the majority shareholder I can't remember what his name is rocked all my head I would think you'd want to start to go up for the rest of my shareholders like you all day.
As shareholders, but those are the three quick questions and I appreciate your huge oil Ellen.
Okay. Thank you and with that I'd translating to feel sorry, I know zone to share to GAAP like the <unk> and be dependent when he gave him. She now she's one oh for sure, though they called repealing the library that day the album simple day.
That's all I can go on for the Division Dana caught up on weekends and other there should be I could give you actually pay you for the Trump how tricky given peak Gavin Kim rental for a good guy. The next day frankly on the dish magazine for the hidden jewel.
Bill Cosby's Logan.
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Junko function that caused you all credit bouncing a team to go for the deduction she.
John Day began from a higher share price trends have you if I'm yeah.
Hey, guys would go for there shouldnt be afforded them yet.
He said, yes, that's okay cool that come here for they've got GAAP notional keeping get whole homologous for you guys with that she calls for the Guy out.
Oh for that do share did that the young share he does that actually saving channel.
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And so here you go through when I eat them intra day, you Oh equal to shuffle the party.
Moving to the Lynch.
Do you guys got good just for the first time GAAP Chamonix for many years should start can somebody to share our don't feel day chip chip in my.
New York schedule for sure Yeah, I don't know how many of them colleges share.
Well John this is.
That's very true for all that to your income clock ticking they hope to share HM.
I don't have negotiation.
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For study resource.
We introduced Josh this is <unk>.
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I'd just like to blame me go back with other people.
HM.
And figure out what she is going to be largely what you other than doshi for.
Jumbo.
HM Okay.
Oh, My God I need your family.
Mm.
No one can really hearing I thought the growth for that you would I, usually mean surely who can you share to share telecom and teaches year Jay to go over you'll tell me my phone system for them go she shouldn't.
Well, China or I guess, it's OK going free chicken shifts how does your punctual.
Okay.
Hi.
Hi, Andy So for your first and second question.
I would guess day that we would definitely they can see there no suggestion that share email company wants to.
Wait until its operation most hectic Malcolm for.
Now, we think because that time, if they can't yet I have the <unk> are all talk to.
Investment Bank based.
Based on their experience as a consultant to help the top two girls its share price all thing you.
No long time, they go to al share holder.
This is for question why should it.
Second question the company is talking to local governments and they've been making government departments.
Because.
This process is to complete kidney we tried to bake.
And she was a government final night [laughter] planning this sitcom called him. So yeah man and he salty then we can do something.
For our application otherwise, we cannot do anything NTM gamut finish it net.
One quick question I part Joe said in the press release, you had already.
You were going to start the application process did I Miss free there.
No no no no no no.
You can't see again and she is a sound like a finalized eat.
Dan you Safi slamming yeah.
Okay.
Hi, what's I agree I mean, our retardation side.
That's okay I'm sorry.
[laughter] psyche.
Okay. So what time has a net.
Thank you. Our next question comes from John Rolfe Private Investor. Please proceed with your question.
Yes, you're halfway through quarter for.
Can you tell me there's approximately how many tons are bromine you expect to ship in quarter for.
Oh, it will be like high sales in our this call will be similar to get.
The third quarter.
I Miss my impression that your your capacity was increasing.
As your commission satisfactory.
So I thought your capacity quarter for might be higher than quarter three.
Okay.
Yes, well that I tried to make clear.
There's all this should take up I think John when you know for sure.
He said he Jewish home she's an attack yeah for sure Yeah I'm sure. It is a challenge I'm not looking for Sankey do enough I should have Florida have for what you may see good value can you maybe GAAP probably got to go.
Trying to answer would be so many other cuattro.
Mhm woman she already been garrigus. That's Ah done then do this for a hole for your you share.
For treating that you should be resource HM catchy or whatever so you should see what mission to hyper GAAP show low single.
Mm for you, but okay.
Okay.
Sure.
Oh, yes, okay, we hope if it can be higher than third quarter net backs.
You know for cross out because there is some uncertainty due to the right there and there's a hearty day.
So.
We cannot say for the second to be higher so to be comfortable each other we think they can be seen you know excess cash.
Okay, one related question.
Are your bromine.
Sales limited Bard factory capacity for by customer demand.
Non-GAAP hobbies.
Hi, this is the way it should or shouldn't have with me too for a while mitchell's fish catch up into a couple of things on non Hodgkin's you can show that you the trend, though she would teach him I know try non down nicely.
<unk>, which is a good time, though.
Currently we have they gone our capacity.
Okay. Thank you.
Okay. Thank you.
Hi, operating <unk> is there any other price trends there.
There are no further questions at this time, Helen I would like to turn the call back over to you for any closing comments.
Okay I think if there's no more question can we close the call for today is a net mckenzie for meal ventana to cash in.
No I don't feel for I think in this call have a good night.
[noise] figured I got to wonder if you're going to free.
Again.
This concludes todays conference you may disconnect. Your lines at this time. Thank you for your participation have a great night.