Sign In

Vecast (0001232521)

Tuesday, December 14, 2010

	For the Years Ended December 31,						For the Nine Months Ended September 30,
	2009			2008			2010			2009
	(audited)			(audited)			(unaudited)			(unaudited)

Sales	$	2,327,708		$	1,835,428		$	921,145		$	1,906,588

Cost of sales		1,929,171			1,052,099			799,828			1,562,564

Gross profit		398,537			783,329			121,317			344,024

Operating expenses
Selling expenses		128,060			107,758			8,007			59,265
General and administrative expenses		611,588			1,154,028			391,546			453,699
Total operating expenses		739,648			1,261,786			399,553			512,964

Loss from operations		(341,111	)		(478,457	)		(278,236	)		(168,940	)

Other income (expenses)
Interest income, net		1,042			1,408			6,730			820
Non-operating income (expenses), net		208,129			(191,780	)		(1,455	)		208,350
Government subsidy		19,297			86,244			-			19,295
Total other income (expenses)		228,468			(104,128	)		5,275			228,465

Loss before provision (benefit) for income taxes		(112,643	)		(582,585	)		(272,961	)		59,525

Provision (benefit) for income taxes
Current year		(23,989	)		(109,919	)		-			30,606
Deferred		-			-			(11,706	)		-
Total		(23,989	)		(109,919	)		(11,706	)		30,606

Net income (loss)		(88,654	)		(472,666	)		(261,255	)		28,919

Other comprehensive income (loss)
Foreign currency translation adjustment		(3,986	)		16,223			56,218			2,844

Comprehensive loss	$	(92,640	)	$	(456,443	)	$	(205,037	)	$	31,763