Great China Mania (GREY:GMEC)

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GREAT CHINA MANIA HOLDINGS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE INCOME (UNAUDITED)


         

 

Three months ended March 31,

 

 

2015

 

2014

CONTINUING OPERATIONS

 

 

 

 

REVENUES

 

$

553,025

 

$

287,810

 

 

 

 

 

COST OF SALES

 

330,535

 

161,482

 

 

 

 

 

GROSS PROFIT

 

222,490

 

126,328

 

 

 

 

 

EXPENSES

 

 

 

 

Sales & marketing expenses

 

28,394

 

11,011

General and administrative

 

190,662

 

204,552

TOTAL OPERATING EXPENSES

 

219,056

 

215,563

 

 

 

 

 

INCOME / (LOSS) FROM CONTINUING OPERATIONS BEFORE PROVISION FOR INCOME TAXES

 

3,434

 

(89,235)

 

 

 

 

 

OTHER INCOME/(EXPENSE)

 

 

 

 

Other income

 

4,770

 

587

Other expenses

 

(1,084)

 

(11,337)

TOTAL OTHER EXPENSE

 

3,686

 

(10,750)

 

 

 

 

 

NET INCOME / LOSS BEFORE PROVISION FOR INCOME TAXES

 

7,120

 

(99,985)

 

 

 

 

 

PROVISION FOR INCOME TAXES

 

-

 

-

 

 

 

 

 

NET INCOME / (LOSS) FROM CONTINUING OPERATIONS

 

$

7,120

 

$

(99,985)

 

 

 

 

 

NET INCOME / (LOSS) FOR THE PERIOD

 

$

7,120

 

$

(99,985)

 

 

 

 

 

NET LOSS ATTRIBUTABLE TO NONCONTROLLING INTERESTS

 

9,844

 

-

 

 

 

 

 

NET INCOME / (LOSS) ATTRIBUTABLE TO GREAT CHINA MANIA HOLDINGS, INC. AND SUBSIDIARIES

 

$

16,964

 

$

(99,985)

 

 

 

 

 

OTHER COMPREHENSIVE LOSS ATTRIBUTABLE TO

GREAT CHINA MANIA HOLDINGS, INC. AND SUBSIDIARIES

 

 

 

 

Loss on foreign exchange translation

 

(584)

 

-

 

 

 

 

 

TOTAL COMPREHENSIVE INCOME / (LOSS) FOR THE PERIOD

 

$

16,380

 

$

(99,985)

 

 

 

 

 

BASIC INCOME / (LOSS) PER SHARE–

 

$

0.00

 

$

(0.00)

 

 

 

 

 

DILUTED INCOME / (LOSS) PER SHARE

 

$

0.00

 

$

(0.00)

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING

 

 

 

 

 

 

 

 

 

BASIC

 

26,610,872

 

22,105,301

 

 

 

 

 

DILUTED

 

29,371,278

 

22,105,301

Management Discussion and Analysis

Revenues

Revenues increased by $265,215 to $553,025 for the three months ended March 31, 2015 as compared to $287,810 for the same period in 2014, representing a 92.15% increase. The increase in revenue was mainly due to the increase in revenue of promotion events hosted outside Hong Kong.


Net income/( loss) from operations

Net income from operations increased by $107,105 to a net income of $7,120 for the three months ended March 31, 2015 as compared to a loss of $99,985 for the same period in 2014.

Last updated May 14, 2015