BFAR way undervalued.
On March 25, 2011, China Northern Pharmacy Holding Group Limited, a wholly-owned subsidiary of BioPharm Asia, Inc. (the “Company”), entered into an agreement to transfer all of the outstanding shares of its subsidiary Tonghua S&T Medical & Pharmacy Company Limited (“PHARMACY”) and its subsidiary Yunnan Silin Pharmaceutical Company Limited (“Silin”) to City Well International Limited for RMB 200 million, or approximately $30.5 million, based upon prevailing exchange rates.
Source : www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7821458
If we can trust all numbers and the Entry into a Material Definitive Agreement as of March 25, 2011, we come up with
Cash and cash equivalents $ 15,407,736
+ cash of Sale of its subsidiary Tonghua S&T Medical & Pharmacy Company Limited (“PHARMACY”) and its subsidiary Yunnan Silin Pharmaceutical Company Limited (“Silin”) of approximately $30.5 M
That´s total approximately $45.9M
Current mkt cap is only $2M