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Maxray Optical Technology Co., Ltd (fka MXOP) RSS Feed

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MAXRAY OPTICAL TECHNOLOGY (FUJIAN) CO., LTD., (formerly Amber Optoelectronics Inc.) (the "Company") is a Delaware corporation organized on January 25, 2007. The Company conducts its business through its subsidiary named as MAXRAY OPTICAL TECHNOLOGY (FUJIAN) CO. LTD., and the reverse merger was completed on December 15, 2009.

MAXRAY OPTICAL TECHNOLOGY (FUJIAN) CO., LTD., was established in Photoelectric Park, Rongqiao Economic and Technological Development Zone Fuqing, Fujian, China on March 8th, 2007.  

The Company and its subsidiary are mainly engaged to develop, design, produce on new flat panel display devices, liquid crystal display products, including modules and parts. The Company has won credit from world leading manufactures on LCM assembly services including backlight module assembling for LCD TV and monitors, and its related parts.

Their major customers such as JIELIAN Electronics Co., Ltd., HUAYING Video Co., Ltd, and HENGSHENG electric Co., Ltd, whose parent are publicly listed companies in Hong Kong or Taiwan.
 

Interesting note from last published financials Dec 31, 2010 period: 

 

Cash Flows from Financing Activities

Net cash provided by financing activities was $(6.25) million for the six months ended December 31, 2010, as compared to $12.79 million for the same period in the previous year. Cash provided by financing activities reduced during the six months ended December 31, 2010 primarily because the company paid off $6.1 million short-term loans from domestic banks in China.

 

The Company anticipates that its cash needs over the next 12 months will be met by primarily from a combination of ongoing profits, cash on hand, access to a negotiated in place line-of-credit of $15,000,000 United States dollars.

 

The line-of-credit is secured by a general pledge of the company's current assets. As at December 31, 2010, the company has not yet required the use of the line-of-credit.  


Authorized common shares:  50,000,000
Outstanding common shares:  34,728,850


 

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