APBS ARTISTRY PUBLICATIONS, INC. to change name to China Redstone Group any day now
We conduct our cemetery operations only in Chongqing, China. As of March 31, 2009, we have two cemeteries, Guiyuan I and Guiyuan II. The cemetery operations are managed by a team of experienced death care industry and sales professionals. During the year ended March 31, 2009, cemetery revenues account for approximately 96% of our total revenues.
Our cemetery products and services include interment services, the rights to interment in cemetery sites (including grave sites, mausoleum crypts and niches) and related cemetery merchandise such as memorials and vaults. Cemetery operations generate revenues through sales of interment rights and memorials, installation fees, and fees for interment services.
On February 12, 2010 (the “Closing”), Artistry Publications, Inc., a Delaware corporation (“Artistry” or the “Registrant”), closed a reverse take-over transaction by which it acquired a private provider of cemetery products and services in Chongqing, People’s Republic of China (“PRC” or “China”) pursuant to a Share Exchange Agreement
Section 3.18 Exchange Listing . The Company use its best efforts to list and trade its shares of Common Stock on the Nasdaq Capital Market or the Nasdaq Global Market or any successor market thereto (collectively, “ Nasdaq ”), or NYSE Amex or any successor market thereto (together with Nasdaq, each a “ National Stock Exchange ”) at the earliest possible time it meets the listing requirements for listing on such National Stock Exchange and shall take all commercially reasonable actions to fulfill the said requirement by no later than the date which is [six months] after the Closing Date. Which is FEB 24th/09[[b}
Company states no offerings until uplisting. When uplisted they will do an offering of 10 million dollars for future growth.
Income statement data:
Three Months Ended
December 31, 2009
Cost of Goods Sold 5,339,808
Gross Profit 6,063,777
Total Operating Expenses 643,198
Income from Operations 5,420,579
Total Other Income 150,451
Earnings Before Tax 5,571,030
Income Tax (1,414,552 )
Net Income 4,156,478
For the three months ended December 31, 2009, cemetery revenues increased by $9,433,633 or 478.88%
Nine Months Ended
Net Income 10,044,238
Company is being conservative with projection of earnings. O/S 13.4 million. Net income will be 13 to 15 million net for the FY 2009. Meaning .97 (low end) to 1.12 EPS (high end) for 2009. Which would give it a PE from 4.1 to 4.85. At this time.
Average PE in this industry is 16.8 once uplisted.