Annec Green Refractories (OTC BB:ANNC)

We are a refractory and technology-based company that designs, develops, produces, and markets refractory products. In addition, through our VIE, Beijing Annec, we provide integrated stove design, turnkey contracting, refractory production and sales. We generate revenues from the sale of our refractory products and from services related to the design, engineering and build out of stoves. For sale of refractory products, we recognize revenues at the time our products are accepted by the customer. The sales prices of our refractory products are established on a cost plus basis and competitor’s prices. For our design and engineering services, Beijing Annec enters into contracts for the design and build out of the stoves. Most of the contracts are fixed price contracts which typically provide for a stated contract price and a specified scope of the work to be performed. Payment under the contract is usually based on the progress of the project.

Reverse Merger Filing

Last updated September 22, 2011