Coro Global Inc (OTC:CGLO)

China Global Media, Inc.

Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	For the Three Months Ended
	March 31,
	2013	2012
Sales	$ 12,953,919	$ 15,038,576
Cost of sales	12,205,248	11,965,970
Gross profit	748,671	3,072,606
Operating expenses:
Selling, general and administrative expenses	1,036,346	708,896
Total operating expenses	1,036,346	708,896
Income (loss) from operations	(287,675)	2,363,710
Other income (expenses):
Interest expense, net	(80,698)	(3,033)
Non-operating income, net	482,795	106,807
Change in fair value of warrants liability	(24,423)	263,544
Total other income	377,674	367,318
Income before provision for income taxes	89,999	2,731,028
Provision for income taxes	416	638,825
Net income	89,583	2,092,203
Less: net loss attributable to noncontrolling interest	(60,921)	-
Net income attributable to China Global Media, Inc.	$ 150,504	$ 2,092,203
Earnings per common share
Basic	$ 0.00	$ 0.04
Diluted	$ 0.00	$ 0.04
Weighted average number of common shares
outstanding
Basic	48,891,256	47,046,140
Diluted	48,891,256	47,776,779

CHINA GLOBAL MEDIA, INC.

Consolidated Statements of Operations and Comprehensive Income

(Unaudited)

	For the Three Months Ended		For the Six Months Ended
	June 30,		June 30,
	2012	2011	2012	2011
Sales	$16,279,823	$3,729,852	$31,318,399	$8,644,468
Cost of sales	12,714,497	2,491,951	24,680,467	6,360,253
Gross profit	3,565,326	1,237,901	6,637,932	2,284,215
Operating expenses:
Selling, general and administrative expenses	682,401	229,037	1,391,297	438,862
Total operating expenses	682,401	229,037	1,391,297	438,862
Income from operations	2,882,925	1,008,864	5,246,635	1,845,353
Other income (expenses):
Interest expense, net	(4,015)	(2,916)	(7,048)	(6,825)
Non-operating income (expenses)	7,767	(1,227)	114,574	(1,453)
Change in fair value of warrants liability	(18,155)	-	245,389	-
Total other income (expenses)	(14,403)	(4,143)	352,915	(8,278)
Income before provision for income taxes	2,868,522	1,004,721	5,599,550	1,837,075
Provision for income taxes	731,437	252,523	1,370,262	458,235
Net income	2,137,085	752,198	4,229,288	1,378,840
Other comprehensive income
Foreign currency translation adjustment	83,449	95,752	104,612	139,681
Comprehensive income	$ 2,220,534	$ 847,950	$ 4,333,900	$ 1,518,521
Earnings per common share
Basic	$ 0.05	$ 0.02	$ 0.09	$ 0.04
Diluted	$ 0.05	$ 0.02	$ 0.09	$ 0.04
Weighted average number of common shares
outstanding
Basic	47,485,700	36,351,500	47,264,706	36,351,500
Diluted	47,485,700	36,351,500	47,315,337	36,351,500

Full Year Results

• Our sales for the year ended December 31, 2011 were $35,930,827, which grew by 99% from our sales of $18,052,818 for the year ended December 31, 2010.
• Our net income for the year ended December 31, 2011 was $7,843,628, which grew by 66% from our net income of $4,721,436 for the year ended December 31, 2010.
• Our Earnings Per Share for the year ended December 31, 2011 was $ 0.20, which grew by 54% from the Earnings Per Share of $ 0.13 for the year ended December 31, 2010.
• Fourth Quarter 2011 EPS were $0.07 vs $0.03 in prior year

"We are proud of the growth we have achieved in 2011 and we believe this trend of growth will continue in 2012," commented Mr. Jun Liang, our Chief Financial Officer, "We are making continuing sales and marketing efforts to locate and develop new customers."

CHANGSHA, CHINA--(Marketwire - Mar 12, 2012) - China Global Media, Inc.'s (OTCBB: CGLO) affiliated operating company Changsha Zhongte Trade Advertising Co., Ltd has signed an advertisement agreement with Jiangxi Hezhong Guanghua International Media and Advertising Co., Ltd ("Hezhong Guanghua"). Under this agreement, Zhongte will place advertisements for Bidewen electric bikes and scooters, one of the products represented by Hezhong Guanghua, on Hunan Satellite Television Channel. The term of the agreement is One Year. The total advertisement fee under this agreement is approximately US $2.5 Million.

CHANGSHA, CHINA--(Marketwire - Feb 13, 2012) - China Global Media, Inc.'s (OTCBB: CGLO) affiliated operating company Changsha Zhongte Trade Advertising Co., Ltd. has signed an advertisement agreement with Luolai Home Textile Co., Ltd. ("Luolai"). Luolai is one the of top home textile manufacturing and sales companies in China. Under this agreement, Zhongte will place advertisements for Luolai's home textile products on Hunan Satellite Television Channel. The term of the agreement is nine months, from March 2012 to November 2012. The total advertisement fee under this agreement is approximately US $4.9 Million.

CHANGSHA, CHINA--(Marketwire - Feb 6, 2012) - China Global Media, Inc. (OTCBB: CGLO) announces its financial performance goals for fiscal years 2012 and 2013. Based on the strong financial performance achieved in fiscal year 2011, CGLO attempts to achieve annual turnover of US $80 Million and annual profit of $15 Million in fiscal year 2012 and achieve annual turnover of US $150 Million and annual profit of $30 Million in fiscal year 2013.

CHANGSHA, CHINA--(Marketwire - Feb 2, 2012) - China Global Media, Inc. (OTCBB: CGLO)'s affiliated operating company Changsha North Latitude 30 Cultural Communications Co., Ltd. ("North Latitude") has signed two one-year advertisement agreements with Hunan Shenxiang Automobile Tiancheng Sales and Services Co., Ltd ('Shenxiang") and Hunan Yongtong Automobile Group ("Yongtong") to place advertisements for Shenxiang and Yongtong on Hunan Voice of Golden Eagle Radio Station. The total advertisement fees that Company expects to receive in fiscal year 2012 under these two agreements are approximately US $ 2.3 Million.

CHANGSHA, CHINA--(Marketwire - Jan 17, 2012) - China Global Media, Inc. (OTCBB: CGLO)'s affiliated operating company Changsha Zhongte Trade Advertising Co., Ltd has signed a one-year exclusive advertisement placement agreement with Guangzhou Jiahe Cosmetics Manufacturing Co., Ltd ("Jiahe") to place advertisements for Jiahe's cosmetic products on Hunan Satellite Television Channel. The total advertisement fee that Company expects to receive under this agreement is approximately US $ 17.2 Million for year 2012.

CHANGSHA, CHINA--(Marketwire - Jan 12, 2012) - China Global Media, Inc. (OTCBB: CGLO) is pleased to announce that Changsha North Latitude 30 Cultural Communications Co., Ltd. ("North Latitude"), one of CGLO's affiliated operating entities, has entered two one-year industry specific advertisement placement agency agreements with Hunan Golden Eagle 955 Radio Station ("Golden Eagle"). Under these two agreements, Golden Eagle appoints North Latitude as its exclusive agency to place advertisements for customers in the automobile and beverage industries. Given the placement rights that the Company receives under these two agreements, the Company expects to receive approximately US $2.6 million in advertisement fees in the 2012 fiscal year.

On July 20, 2011 CGLO became a public entity via a reverse merger transaction.

Immediately upon the entry of the Share Exchange Agreement on July 20, 2011, PUBCO entered into Subscription Agreements (“Subscription Agreements”) with a group of accredited investors

Company Snapshot:

Repairing, maintaining and servicing metal gym and heavy duty weight equipment for commercial gyms and health club facilities located in the Metropolitan New York Area.

Industry Snapshot: (From the company)

China has become one of the fastest growing advertising markets. According to the data from China National Bureau of Statistics, the 2009 China GDP is 33.5 billion RMB. By the comparable price computation, it grows 8.7% compared to the same period. In 2009, the Big Four traditional media advertising consumption totals 752.1 Billion Yuan, accounting for 2.24% of GDP, and increased by 16% compared to the same period in the previous year. During the period from year 2001 to 2007, the Chinese advertising market remained a stable and rapid growth, and the annual compound rate of growth achieved 13.96%. China economy’s stable and healthy growth and increasing domestic consumption created a good environment for the advertising industry. The television media is still the biggest player in the advertising market and takes 87% of the market share, followed by radio stations, magazines and newspaper. In addition, the internet advertising, as a new popular media, demonstrated impressive achievements. The Chinese internet advertisement industry has overall sales of 21 billion in 2009, a growth of 7.9% compared to the same period.

Post Merger Share Calculation:

• 11,250,000 : Pre reverse merger outstanding shares
•   5,870,200: Shares of Common Stock issued in connection with loan conversion 
• 10,595,000: Shares cancelled as part of the Share Exchange
• 36,351,500: Newly issued shares of Common Stock
•      615,000:Shares associated with private placement
•   3,690,000: Shares from warrants associated with private placement

GeoTeam® best effort calculation of total post reverse merger shares assuming full conversions:  47,181,700

Financial Snapshot: December Year End

2010 vs. 2009

• Revenues:$18.1 million vs $8.6 million
• Net Income: $4.7 million vs. $1.9 million

Three Months 2011 vs 2010

• Revenues: $17.7 million vs. $11.8 million
• Net Income: $5.1 million vs. $3.8 million 

Pro Forma Valuation: using current price of $1.82 and new share count

• Trailing EPS (ADS): $0.13
• Trailing P/E: 14

Immediately upon the entry of the Share Exchange Agreement on July 20, 2011, PUBCO entered into Subscription Agreements (“Subscription Agreements”) with a group of accredited investors (“Investors”). Pursuant to the Subscription Agreements, the Investors purchased (i) 615,000 shares of the PUBCO’s common stock (the “Purchased Shares”) for the purchase price of $1.00 per share; (ii) Series A share purchase warrants to purchase, individually one share of the PUBCO’s common stock and, collectively, 1,230,000 shares of the PUBCO’s common stock (the “Series A Warrants”); (iii) Series B share purchase warrants to purchase, individually one share of the PUBCO’s common stock and, collectively, 1,230,000 shares of the PUBCO’s common stock (the “Series B Warrants”); (iv) Series C share purchase warrants to purchase, individually one share of the PUBCO’s common stock and, collectively, 615,0000 shares of the PUBCO’s common stock (the “Series C Warrants”); and (v) Series D share purchase warrants to purchase , individually one share of the PUBCO’s common stock and, collectively, 615,000 shares of the PUBCO’s common stock (the “Series D Warrants”) (collectively, the Series A Warrants, the Series B Warrants, the Series C Warrants and the Series D Warrants, the “Warrants”). Each purchase of a Purchased Shares entitles the Investors to two shares of Series A Warrants, two shares of Series B Warrants, one share of Series C Warrants and one share of Series D Warrants.

CHANGSHA, CHINA--(Marketwire - Jan 9, 2012) - China Global Media, Inc. (OTCBB: CGLO) is pleased to announce that Changsha Zhongte Trade Advertising Co., Ltd ("Zhongte"), one of CGLO's affiliated operating entities, has entered a one-year Television Advertisement Agreement with Guangzhou Aoda Biological Beauty and Health Technology Development Co., Ltd ("Aoda"). The total advertising fee that the Company will receive is approximately US $2.5 million that will be recognized in the 2012 fiscal year.

Under this Television Advertisement Agreement with Aoda ("Aoda Agreement"), Zhongte will act as Aoda's advertising agent to publish advertisements for Aoda's products on Hunan Satellite Television Channel, one of the most popular province level satellite television channels in China.