Asia Globa Holdings (AAGH) research, news, and more from GeoInvesting

Company description

Sun, 24 Apr 2011 04:00:00 GMT

UPL (established in 2009 and based in Hong Kong) provides consulting services to foreign and local (PRC) companies seeking to begin or re-organize advertising programs in the PRC. Mr. Kwong-Lim Liang, former owner of UPL and a director of AAGH, has 20 years of experience in structuring advertising contracts for foreign and PRC import and export businesses. All business advertising in the PRC must comply with local and central government regulations as to content and means of publication. UPL uses Mr. Liang’s extensive contacts and experience with government officials to help clients organize and maintain advertising programs that are compliant.

UPL’s services are billed to clients on an individual project basis, either on a fixed cost whole project basis, or by installments as a project completes each phase of the project. UPL also may enter into joint ventures with selected clients to set up advertising agencies in the PRC. Currently, UPL is also conducting discussion with other companies regarding business co-operation on Apple mobile applications and related products and technologies.

Liquidity Requirements

Fri, 14 Jan 2011 05:00:00 GMT

Our growth plans may require additional funding from outside sources. We intend to pursue discussions with existing stockholders, third party financing sources and potential lenders to ensure access to funds as required.

Management believes the Company has the ability to continue as a going concern only if it can meet its financing requirements through external sources of financing.

Investor Alert

Fri, 24 Jul 2009 04:00:00 GMT

Excerpt from SEC Form 8K/A (July 22, 2009)

On April 14, 2009, the management and Board of Directors of Asia Global Holding Corporation after discussions with independent accountants concluded the following. The Company’s previously issued financial statements as of and for the three months and nine months ended September 30, 2008. As a result of these errors, the Company will restate the financial statements described above to correct its accounting for revenue recognition.

The Company anticipates that the Restatements would reduce net sales and reduce gross profit and would also affect net income and net loss for the period presented

During the first three quarters of the year the Company saw a very strong growth in Media and Advertising sales from our Sino Trade subsidiary. However near the end of 2008 and beginning of 2009 Sino Trade began feeling the effects of the global financial turndown. The financial meltdown during the fourth quarter of 2008 harshly impacted Sino Trade’s core client base of small and medium sized manufacturers located in China who engage in manufacturing and exporting products to the United States. This segment of manufacturers in China simultaneously experienced severe cut-backs on bank facilities and a severe drop in export demand. The segment saw numerous factory closings and cutbacks at the end of year 2008, particularly in Southern China. The adverse financial effect on the core customer group was far worse than Sino Trade originally anticipated. As a result, this adverse impact on the Sino Trade core customer base cast doubt on a considerable portion of sales the Company recorded in the three-month period ended September 30, 2008 as management cannot be certain of when or what portion of Sino Trade’s account receivables can be fully collected.