Attached files
| file | filename |
|---|---|
| 8-K/A - Mobile Presence Technologies Inc. | v174741_8ka.htm |
CAOPU
ARTS & CRAFTS CO., LTD.
(Unaudited) Balance Sheet
As
of September 30, 2009
|
ASSETS
|
||||
|
CURRENT
ASSETS
|
||||
|
Cash
and Cash Equivalents
|
$ | 4,146,146 | ||
|
Trade
Accounts Receivable
|
8,285,979 | |||
|
Inventories
|
15,916,996 | |||
|
Prepaid
Expenses
|
180,292 | |||
|
Other
Receivables
|
131,275 | |||
|
TOTAL
CURRENT ASSETS
|
28,660,687 | |||
|
PROPERTY
AND EQUIPMENT
|
||||
|
Property
and Equipment
|
11,178,675 | |||
|
Accumulated
Depreciation
|
(2,997,280 | ) | ||
|
Net
Property and Equipment
|
8,181,395 | |||
|
OTHER
ASSETS
|
||||
|
Construction
in Progress
|
952,537 | |||
|
Net
Other Assets
|
952,537 | |||
|
TOTAL
ASSETS
|
$ | 37,794,619 | ||
|
LIABILITIES
AND STOCKHOLDERS' EQUITY
|
||||
|
CURRENT
LIABILITIES
|
||||
|
Accounts
Payable and Accrued Expenses
|
$ | 762,253 | ||
|
Current
Portion of Notes Payable
|
1,171,932 | |||
|
Short-term
Borrowings
|
5,398,213 | |||
|
Deposits
Received in Advance
|
170,220 | |||
|
TOTAL
CURRENT LIABILITIES
|
7,502,619 | |||
|
STOCKHOLDERS'
EQUITY
|
||||
|
Preferred
Stock ($.0001 par value, 1,000,000 authorized: none issued and
outstanding)
|
$ | - | ||
|
Registered
and Paid Up Capital
|
7,800,000 | |||
|
Statutory
and Discretionary Surplus Reserve
|
3,608,243 | |||
|
Accumulated
Other Comprehensive Income
|
214,460 | |||
|
Common
Stock ($.0001 par value, 20,000,000 shares authorized: 1,046,500
shares issued and outstanding)
|
105 | |||
|
Additional
Paid-in-Capital
|
- | |||
|
Retained
Earnings
|
18,669,193 | |||
|
TOTAL
STOCKHOLDERS' EQUITY
|
30,292,001 | |||
|
TOTAL
LIABILITIES AND STOCKHOLDERS' EQUITY
|
$ | 37,794,619 | ||
CAOPU
ARTS & CRAFTS CO., LTD.
(Unaudited)
Income Statement
For
the Nine Months Ended September 30, 2009
|
2009
|
||||
|
SALES
AND COST OF SALES:
|
||||
|
Sales
|
$ | 46,207,204 | ||
|
Cost
of Sales
|
34,521,474 | |||
|
Gross
Profit
|
11,685,730 | |||
|
OPERATING
EXPENSES:
|
||||
|
Selling,
general and administrative
|
1,657,489 | |||
| 1,657,489 | ||||
|
Income
from continuing operations
|
10,028,241 | |||
|
OTHER
INCOME (EXPENSE):
|
||||
|
Finance
costs
|
(439,881 | ) | ||
|
Other
income
|
140,630 | |||
|
Net
non-operating income
|
6,816 | |||
| (292,435 | ) | |||
|
Income
before income taxes
|
9,735,806 | |||
|
Income
taxes
|
(2,433,952 | ) | ||
|
NET
INCOME BEFORE OCI
|
7,301,855 | |||
|
OTHER
COMPREHENSIVE INCOME (LOSS):
|
||||
|
Foreign
currency translation adjustment
|
(2,040 | ) | ||
|
NET
INCOME
|
$ | 7,299,815 | ||
|
Net
income per common share
|
$ | 6.98 | ||
Shandong
Caopu Arts & Crafts Co., Ltd.
(Unaudited)
Statement of Cash Flows
For
the nine months ended September 30, 2009
|
2009
|
||||
|
CASH
FLOWS FROM OPERATING ACTIVITIES:
|
||||
|
Net
income
|
7,299,815 | |||
|
Adjustments
to reconcile net income to net cash provided by (used in) operating
activities:
|
||||
|
Depreciation
|
418,366 | |||
|
Changes
in operating assets and liabilities:
|
||||
|
Trade
accounts receivable
|
(366,951 | ) | ||
|
Prepaid
expense
|
51,457 | |||
|
Inventories
|
(2,333,860 | ) | ||
|
Other
receivables
|
(47,555 | ) | ||
|
Accounts
payable and accrued expenses
|
201,468 | |||
|
Deposits
received in advance
|
169,939 | |||
|
NET
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
|
5,392,679 | |||
|
CASH
FLOWS FROM INVESTING ACTIVITIES:
|
||||
|
Disposals
of property, plant, and equipment
|
55,714 | |||
|
Expenditures
for property, plant, and equipment
|
(434,152 | ) | ||
|
Additions
to construction in progress
|
(794,537 | ) | ||
|
NET
CASH (USED IN) INVESTING ACTIVITIES
|
(1,172,975 | ) | ||
|
CASH
FLOWS FROM FINANCING ACTIVITIES:
|
||||
|
Principal
repayments of short term borrowings
|
(873,216 | ) | ||
|
Repayments
of notes payable
|
(256,639 | ) | ||
|
NET
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
|
(1,129,855 | ) | ||
|
Foreign
currency adjustment
|
56,912 | |||
|
NET
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS
|
3,146,761 | |||
|
CASH
AND CASH EQUIVALENTS:
|
||||
|
Beginning
of year
|
999,385 | |||
|
End
of year
|
$ | 4,146,146 | ||
|
SUPPLEMENTAL
DISCLOSURES OF CASH FLOW INFORMATION:
|
||||
|
Cash
paid during the year for:
|
||||
|
Interest
|
$ | 439,881 | ||
|
Taxes
|
$ | 2,433,942 | ||
CAOPU ARTS & CRAFTS CO.,
LTD.
(Unaudited) Income
Statement
For the Nine Months Ended September 30,
2008
|
2008
|
||||
|
SALES AND COST OF
SALES:
|
||||
|
Sales
|
$ | 29,977,753 | ||
|
Cost of
Sales
|
22,220,271 | |||
|
Gross
Profit
|
7,757,482 | |||
|
OPERATING
EXPENSES:
|
||||
|
Selling, general and
administrative
|
1,711,152 | |||
| 1,711,152 | ||||
|
Income from continuing
operations
|
6,046,330 | |||
|
OTHER INCOME
(EXPENSE):
|
||||
|
Finance
costs
|
(490,724 | ) | ||
|
Other
income
|
17,857 | |||
|
Net non-operating
income
|
1,873 | |||
| (470,994 | ) | |||
|
Income before income
taxes
|
5,575,336 | |||
|
Income
taxes
|
(921,822 | ) | ||
|
NET INCOME BEFORE
OCI
|
4,653,514 | |||
|
OTHER COMPREHENSIVE INCOME
(LOSS):
|
||||
|
Foreign currency translation
adjustment
|
(3,650 | ) | ||
|
NET INCOME
|
$ | 4,649,864 | ||
|
Net income per common
share
|
$ | 4.44 | ||
Shandong Caopu Arts & Crafts Co.,
Ltd.
(Unaudited) Statement of Cash
Flows
For the nine months ended
September 30, 2008
|
2008
|
||||
|
CASH FLOWS FROM OPERATING
ACTIVITIES:
|
||||
|
Net income
|
4,649,864 | |||
|
Adjustments to reconcile net
income to net cash
|
||||
|
(used in) operating
activities:
|
||||
|
Depreciation
|
427,277 | |||
|
Changes in operating assets and
liabilities:
|
||||
|
Trade accounts
receivable
|
(3,112,098 | ) | ||
|
Prepaid
expense
|
382,275 | |||
|
Inventories
|
(3,027,140 | ) | ||
|
Other receivables and
assets
|
298,474 | |||
|
Accounts payable and accrued
expenses
|
(1,777,299 | ) | ||
|
NET CASH (USED IN) OPERATING
ACTIVITIES
|
(2,158,647 | ) | ||
|
CASH FLOWS FROM INVESTING
ACTIVITIES:
|
||||
|
Expenditures for property, plant,
and equipment
|
(357,251 | ) | ||
|
Additions to construction in
progress
|
(29,923 | ) | ||
|
NET CASH (USED IN) INVESTING
ACTIVITIES
|
(387,174 | ) | ||
|
CASH FLOWS FROM FINANCING
ACTIVITIES:
|
||||
|
Borrowings of short term
borrowings and notes payable
|
10,058,394 | |||
|
Principal repayments of short term
borrowings and notes payable
|
(7,430,657 | ) | ||
|
NET CASH PROVIDED BY FINANCING
ACTIVITIES
|
2,627,737 | |||
|
Foreign currency
adjustment
|
236,031 | |||
|
NET INCREASE IN CASH AND CASH
EQUIVALENTS
|
317,947 | |||
|
CASH AND CASH
EQUIVALENTS:
|
||||
|
Beginning of
year
|
703,322 | |||
|
End of year
|
$ | 1,021,269 | ||
|
SUPPLEMENTAL DISCLOSURES OF CASH
FLOW INFORMATION:
|
||||
|
Cash paid during the year
for:
|
||||
|
Interest
|
$ | 490,724 | ||
|
Taxes
|
$ | 942,008 | ||