Asia Properties Inc. (ASPZ)

[Slojab]

What an opportunity.

NOTE 2 – ORGANIZATION AND BACKGROUND

Asia Properties, Inc. (“ASPZ” or “the Company”) was incorporated in the State of Nevada on April 6, 1998. The Company intends to seek opportunities to invest in real estate through its subsidiary, Asia Properties (HK) Limited, which incorporated in Hong Kong on November 7, 2007. For the six months ended June 30, 2015, the Company does not hold any material property interests.

NOTE 3 – GOING CONCERN UNCERTAINTIES

These condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future.

As of June 30, 2015, the Company suffered the accumulated deficits of $5,152,016 from prior years and suffered from a working capital deficit of $178,387. The continuation of the Company as a going concern is dependent upon the continuing financial support from its stockholders or external financing. Management believes the existing stockholders will provide the additional cash to meet with the Company’s obligations as they become due. However, there can be no assurance that the Company will be able to obtain sufficient funds to meet its obligations.

These factors raise substantial doubt about the Company’s ability to continue as a going concern. These condensed consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets and liabilities that may result in the Company not being able to continue as a going concern