Company Information

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Address: 1095 QINGLAN AVENUE
ECONOMIC AND TECHNOLOGICAL DEVELOPMENT Z 
City: NAN CHANG CITY, JIANGXI PROVIN 
State:  
Zip Code: 330013 
Telephone: 662-262-9347 


Description of Business


Primary SIC Code: 2040
(As filed with the SEC)  

We were incorporated as Wallace Mountain Resources Corp. on March 30, 2005 in Nevada. Since October 31, 2006, our principal place of business has been based in the People's Republic of China (the "PRC"). As the result of a merger into a wholly owned subsidiary, we changed our name to AgFeed Industries, Inc. on November 17, 2006. Our headquarters are located at Room 1602 & 1603, Block A, Fortune Plaza, 357 Bayi Avenue, Nanchang City, Jiangxi Province, PRC 330006, Telephone: +86-791-2189636. Our primary business consists of the research and development, manufacture, marketing and sale of fodder and blended feed for use in the domestic animal husbandry markets in the PRC. As a result of the acquisition of Lushan Breeder Pig Farm Co., Ltd. ("Lushan") on November 9, 2007, we are also engaged in the business of raising, breeding and selling hogs for use in China's pork production and hog breeding markets.  ... More ...  

Per Share Overview

Date 12-mos Rolling EPS Dividend P/E Ratio
09/20080.50NA15.80
06/20080.32NA46.78
03/20080.26NA51.35
12/20070.25NA33.80
09/20070.16NA49.88
06/20070.13NA46.54
03/20070.08NA63.12
12/20060.07NA28.64

Key Financial Ratios and Statistics

FYE: 12/31

Profitability 2007 Leverage 2007
Net Inc/Comm Equity0.66Total Liab/Total Assets0.15
Net Inc/Total Assets0.29Total Liab/Inv Cap0.19
Net Inc/Inv Cap0.36Total Liab/Comm Equity0.35
Pretax Inc/Net Sales0.18Interest Coverage Ratio43.09
Net Inc/Net Sales0.18Curr Debt/Equity0.06
Cash Flow/Net Sales0.03LTD/EquityNA
SG&A/NetSales0.11Total Debt/Equity0.06
Asset Utilization   Liquidity  
Net Receivables Turnover7.01Quick Ratio4.30
Inventory Turnover14.59Current Ratio5.06
Inventory Day Sales0.03Net Rec/Curr Assets0.39
Net Sales/Work Cap2.49Inv/Curr Assets0.15
Net Sales/PP&E8.71  

Income Statement (Millions)

  9/30/2008 6/30/2008 3/31/2008 12/31/2007
Total Revenues(Net Sales) 49.43 35.64 12.15 12.41
Cost of Goods Sold 37.12 24.60 8.71 8.80
Selling & Admin Exps 2.99 2.26 1.71 1.54
Operating Income 9.31 8.77 1.73 2.06
Interest Exp 0.61 4.31 0.33 0.06
Pretax Income 8.42 3.84 1.21 2.20
Other Income -0.22 -0.25 -0.19 0.19
Net Income Bef Extraordinary ... NA NA NA NA
Net Income 8.22 3.92 0.92 2.35

Balance Sheet (Millions)

Assets 9/30/2008 6/30/2008 3/31/2008 12/31/2007
Cash & Short Term Investments 15.57 31.27 36.92 7.70
Receivables - Total 13.81 10.54 9.44 7.01
Inventories - Total 19.79 17.83 6.48 2.73
Total Current Assets 50.37 61.37 54.66 18.08
Net Property, Plant & Equipment 29.59 21.80 7.58 4.15
Total Assets 124.65 125.44 66.35 23.07
Liabilities        
Accounts Payable 11.10 21.46 4.85 2.36
Debt in Current Liabilities NA NA 1.16 1.11
Total Current Liabilities 11.33 21.53 6.05 3.57
Long-Term Debt 3.15 4.30 15.09 NA
Total Liabilities 16.44 27.19 22.30 3.57
Stockholder's Equity        
Minority Interest 1.96 1.35 1.16 NA
Preferred Stock NA NA NA NA
Common Stock 0.03 0.03 0.03 0.03
Retained Earnings 19.76 11.84 8.71 7.85
Treasury Stock NA NA NA NA
Total Stockholders' Equity 108.22 98.25 44.05 19.50
Total Liabilities and Stockholders' Equity 124.65 125.44 66.35 23.07

Cash Flow Summary (Millions)

Categories 9/30/2008 6/30/2008 3/31/2008 12/31/2007
Net Cash Provided by Operating Activities 6.83 5.38 -0.87 0.79
Net Cash Provided by Investing Activities -23.29 -44.97 -6.00 -2.52
Net Cash Provided by Financing Activities 0.79 33.68 35.85 -0.60

Annual Summary Data (Millions)

Year Sales Net Income EPS
12/20060.00-0.020.07
12/20068.591.180.07
12/200736.166.660.25
Growth RatesInfinity--88.98

Stock Ownership

Type Date(Q,M) No. Owners Shares Held (000s) % Own
Institutional12/31/08755,00115.19




Report Date : 1/6/2009

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