Unaudited (Restated)
ASSETS
Current assets:
Cash		$	1,171,917
Accounts receivable - related company			525,641
- others, less allowance for bad debts of $3,319,188			6,278,855
Due from related companies			197,658
Prepaid expenses			3,328,588
Other current assets			386,187
Total Current Assets			11,888,846
Property, plant and equipment, net			11,353,185
Intangible assets			1,672,106
Total Assets		$	24,917,137
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	1,138,258
Accrued expenses			35,788
Other current liabilities			1,124,966
Total Current Liabilities			2,299,012
Total Liabilities			2,299,012
Minority interest in consolidated subsidiary			3,367,784
Commitments and contingencies (refer to note 10 )			-
Stockholders' equity :
Preferred stock ($0.001 Par Value: 50,000,000 shares authorized;
no shares issued and outstanding)			-
Common stock ($0.001 Par Value: 300,000,000 shares authorized;
123,088,000 shares issued and outstanding)			123,088
Additional paid in capital			20,392,249
Deferred stock-based compensation			(1,443,000	)
Accumulated other comprehensive income			8,285
Retained earnings			166,719
Total Stockholders’ Equity			19,247,341
Total Liabilities and Stockholders’ Equity		$	24,917,137