WEB NEWS Comments & Business Outlook
BEIJING CENTURY HEALTH MEDICAL , INC . AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
(FORMERLY KNOWN AS SUPER LUCK, INC.)
CONSOLIDATED STATEMENTS OF INCOME
AND COMPREHENSIVE INCOME
FOR THE YEARS ENDED NOVEMBER 30, 2010 AND 2009
AND FROM INCEPTION ON AUGUST 10, 2005 THROUGH NOVEMBER 30, 2010
Cumulative
total
For the year ended
since
November 30,
inception
2010
2009
US$
US$
US$
Revenue
-
-
-
Expenses
General and administrative expenses
162,351
52,322
29,029
Loss before income taxes
(162,351
)
(52,322
)
(29,029
)
Income taxes (Note 4)
-
-
-
Net loss
(162,351
)
(52,322
)
(29,029
)
Other comprehensive gain/(loss)
Foreign currency translation adjustment
806
811
39
Comprehensive loss
(161,545
)
(51,511
)
(28,990
)
Net loss per share : (Note 3)
Basic and diluted
(0.00
)
(0.00
)
Weighted average number of shares :
Basic and diluted
30,908,960
30,908,960
Reverse Merger Activity
As reported on a Form 8-K filed with the Securities and Exchange Commission (“SEC”) on October 23, 2008 , Super Luck, Inc. completed a share exchange transaction with Galaxies River Limited. Upon completion of the share exchange transaction, Galaxies and its wholly-owned subsidiary, Beijing ShijiJiayu Technology Limited, a company incorporated under the laws of People’s Republic of China became wholly-owned subsidiaries of the Registrant. Following completion of the share exchange transaction, the Registrant now carries on the business o fBeijing ShijiJiayu Technology Limitedas its sole line of business.
Beijing ShijiJiayu Technology Limited is engaged in holding the intellectual property rights, production rights, and sales rights of the First Chinese Medicine Acquired Immunodeficiency Syndrome (“AIDS”) Capsules developed by Century Health Medical Limited, a Chinese company located at 11/F, Tower A, Soho New Town No. 88 Jianguo Road Chaoyang District, Beijing, China 100022. Century Health Medical Limited engages in the research and development of the AIDS Medication Capsule, as well as related medicines and pharmaceutical products in China.
Liquidity Requirements
GeoNote®
Currently, the Company has not yet earned any revenue from its business operations and has no current source of liquidity other than cash on hand and potential revenue from business operations. The Company believes that it may not have sufficient funds to meet the working capital requirements to sustain its business operations for the next twelve months. Prior to the receipt of any revenue from its business operations, the Company anticipates that it will rely on the cash on hand, which was made available by an interest-free, unsecured advance by the Company’s majority stockholder Yan Tsang, to pay expenses on its behalf. Additionally, we anticipate raising the necessary funds for the clinical trials of the AIDS Medication Capsule through a private placement offering of the Company’s common stock; the specific details of such an offering have not yet been determined. If the Company is unable to generate any revenue or raise additional funds, it may not be able to sustain its business operations .
Source: SEC Form 10K ( For the fiscal year ended November 30, 2008)
Financials
The Company is a development stage company and has not yet generated any revenue during the reporting periods.
