Add
SRRY.OB to Portfolio
Set Alert
Email to a
Friend
| |||
|
|
Quotes & Info
|
| SRRY.OB > SEC Filings for SRRY.OB > Form 8-K/A on 15-Apr-2009 | All Recent SEC Filings |
15-Apr-2009
Completion of Acquisition or Disposition of Assets, Financial S
On August 15, 2007, the Registrant exercised its conversion right to convert its convertible note with face value of $200,000 into 70% equity interest of Sancon Resource Recovery (Shanghai) Co., Ltd., pursuant to the terms of Convertible Notes issued on June 1, 2007.
a) Financial statements for the business acquired
A summarized financial position for the acquired company, Sancon SH, at the acquisition date, is provided below.
Sancon Resource Recovery (Shanghai) Co., Ltd.
Summary Statement of Financial Position
At August 15, 2007
Amount
Cash $ 253,549
Other Current Assets 32,447
Property & Equipment 68,957
Current Liabilities (73,268)
---------
Net Assets 281,685
Net Assets Acquired (70%) $ 197,180
=========
|
b) Pro forma financial statements
The following un-audited pro forma consolidated financial information for the year ended December 31, 2007 as presented below, reflects the results of operations of the Company assuming the acquisition occurred on April 1, 2007. These pro forma results have been prepared for information purposes only and do not purport to be indicative of what operating results would have been had the acquisitions actually taken place on April 1, 2007 and may not be indicative of future operating results.
Year ended December 31, 2007
(Unaudited)
Revenue $ 6,075,111
Operating loss $ (257,041)
-----------
Net loss $ (333,551)
===========
Basic and fully diluted gain/(loss) per share $ (0.02)
===========
|
|
|