StockGuru Blog Live from ValueRich in Miami: Lotus Pharmaceuticals, Inc. — Financing Will Support Growth
Lotus - OTCBB: LTUS - Stock Guru ProfileOn February 15, 2007, Lotus Pharmaceuticals, Inc. announced it had completed a $3 million financing with a U.S.-based investment fund. The proceeds will be utilized to expand its domestic markets, increase sales and to acquire additional drugs for its Beijing retail stores. This is a decision that makes good business sense. China’s Ministry of Commerce Market Operations noted there will be increased consumption in health, tourism and entertainment. This projection is based on the increasing urban resident income. China’s total retail sales of consumer goods is estimated to reach CNY 8.6 trillion in…