Golden Century Tech Corp (OTC BB:GCYT)

On July 12, 2011, we entered into two convertible loan agreements with two investors (the “Lenders”) to make available to the Company loans of up to HKD $2,000,000 and HKD $1,200,000, respectively, advanced in one installment each, which amounts, plus 10% per annum accrued interest, are convertible into shares of common stock of the Company at a price of USD $0.60 per share for a period of one year.

We are a development stage company. We have not at any time been able to generate sufficient revenue from sales of our products or services to sustain ongoing operations. From inception on July 1, 2005 to December 31, 2008, we have generated total revenues of only $164,502 but as of December 31, 2008, we have incurred total operating expenses of $367,750 and an accumulated deficit of $223,416 since inception. We may continue to incur significant additional operating losses as our operations continue. Operating losses may fluctuate from quarter to quarter as a result of differences in the timing of expenses incurred and revenue recognized.

Source: SEC Form 10Q (For the quarterly period ended December 31, 2008)

As of December 31, 2008, we had a working deficit of $103,766, our deficit accumulated during the development stage was $223,416. For the period ended December 31, 2008, we had cash of $1,806. Our capital requirements relating to the manufacturing and marketing of our products have been, and will continue to be, significant. We are dependent on the proceeds of future financing in order to continue in business and to develop and commercialize proposed products. We anticipate requiring approximately $250,000 to $500,000 in additional financing for the next twelve months.

Source: SEC Form 10Q (For the quarterly period ended December 31, 2008)

We are a development stage company. We have not at any time been able to generate sufficient revenue from sales of our products or services to sustain ongoing operations.

Management estimates that it will require additional financing of approximately $250,000 to $500,000 over the next twelve months for production of the Liner products, marketing campaigns and administrative costs. Our capital requirements relating to the manufacturing and marketing of our products have been, and will continue to be, significant.

Our independent auditors have expressed substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing. Furthermore, it indicates that we may go out of business.

Source: (10Q April 14 2008)

Currently does not meet GeoTeam requirements.