Rotoblock Corp (OTC BB:RTBC)

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Monday, April 16, 2012

Comments & Business Outlook

ROTOBLOCK CORPORATION

CONSOLIDATED STATEMENT OF INCOME AND COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2011
(Expressed in U.S. Dollars)
		Year ended	Year ended
		December 31	December 31
	Note	2011	2010
		$	$
Sales		1,699,637	3,184,332
Cost of sales		(1,054,969)	(2,127,075)
Gross profit		644,668	1,057,257

Selling and distribution expenses		(467,518)	(445,245)
Administrative and other operating costs		(1,253,504)	(1,314,464)
Depreciation and amortization		(13,716)	(11,542)
Loss from operations		(1,090,070)	(713,994)

Other income	3	1,861,725	-
Financial income and (expense)		(8,578)	(3,361)
Interest income		1,132	1,782
Income (loss) before taxes		764,209	(715,573)

Income tax	17	-	-
Net income (loss) after taxes		764,209	(715,573)

Non-controlling interests	16	176	182

Income (Loss) for the year		764,385	(715,391)

Other comprehensive income
Foreign currency translation adjustment		32,206	40,829
Loss on share exchange		-	(2,952)
Unrealized gain (loss) on available for sale investments		(24,131)	-

Total comprehensive income (loss)		772,460	(677,514)

Income (Loss) per share – basic		0.01	(0.01)

Income (Loss) per share – diluted		0.01	(0.01)

Weighted average share outstanding - basic		73,867,810	66,280,233

Weighted average share outstanding - diluted		76,265,030	66,280,233

The increase in the consolidated net income was the result of the closing of the November 2011 Amended and Restated Agreement and Plan of Share Exchange between Rototblock and daifuWaste Management Holding Limited (“daifuWaste”), whereby daifuWaste became the wholly-owned subsidiary of Rotoblock. Newly appointed CEO Andrew Schneider sees potential for growth with increasing regulation of medical waste in China and around the world.

“China’s health policies and new five-year plan have renewed its commitment to address medical waste treatment. This along with the significant growth worldwide in the medical industry over the past few years are driving this market,” said Schneider.

The Chinese Ministry of Health issued a warning recently on medical waste and its health risks with plans to increase supervision and management throughout the country. Global Industry Analysts, Inc. recently forecasted that the United States market for medical waste management would reach US$3.5 billion by the year 2017.

“Non-incinerator medical waste treatment offers a safer and more efficient alternative to managing medical waste and Rotoblock is in a good position to capitalize on this new market opportunity,” said Schneider. “So far this has been a great turn-around year from 2010 to 2011 and as we look forward in 2012, we feel the best opportunity to grow the market will be through acquisition.”

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