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Sino Green Land Corp (SGLA)

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Last Post: 8/14/2017 5:26:22 PM - Followers: 5 - Board type: Free - Posts Today: 0

Sino Green Land Corporation (OTCBB:SGLA), a leading distributor of high-end fruits and vegetables in China....

Mr. Anson Fong, Chairman of Sino Green Land, commented, "Our success was evident in our financial results for the quarter, in which we more than doubled sales versus the same period last year. This strong performance was a direct result of our strategic marketing initiatives and scalable business model. We have expanded our co-operative relationships with farmers across China, which enable us to lock in guaranteed supply by providing farmers an outlet for their produce. In turn, we work closely with these farmers to enhance their productivity, such as providing them with advanced technology that will increase their crop yields. As a result of these relationships, we are able to sell the highest quality food at very attractive prices. Moreover, as sales increased, we gained meaningful operating leverage as reflected by the sharp increase in both our operating and net profit margins."

China has experienced a surge in demand for healthy "green foods" that are both safe and environmentally responsible. In China, the recent attention to issues of unsafe and unhealthy food has led to increasing demand among a growing middle class for higher-end foods from trusted, environmentally-friendly producers. Over the past five years, green food consumption has increased at a 40% compound annual growth rate, an impressive surge that shows no sign of slowing. High-end "green foods" benefit from a 20% to 30% premium over conventional produce.

Mr. Fong continued, "Sino Green Land is well-positioned to take advantage of the growing demand for healthy foods. We are well underway constructing the China Green Food Distribution Hub, an enormous marketplace and the first of its kind to centralize distribution of green foods in China. The new distribution hub will be open to retailers and wholesalers beginning in the second half of 2010. The China Green Food Distribution Hub will span 20 thousand square meters in Guangzhou, one of the most populated regions of China, where it will serve the Pearl River Delta, Hong Kong and Macao."

Mr. Fong concluded, "We are excited about our plans to officially open the China Green Food Distribution Hub later this year. We feel confident that this will be an excellent opportunity to bring high-end green foods directly to China's large and upwardly-mobile middle class. We are extremely well positioned due to the support we have received for our agricultural and green foods initiatives from the Chinese government, as well as support from the China Green Food Development Center and China Green Food Association, plus our ability to utilize the procurement network of the China Green Food Association and its more than 6,000 members."

SINO GREEN LAND CORPORATION AND SUBSIDIARIES
(FORMALLY, ORGANIC REGION GROUP LTD. AND SUBSIDIARIES)
CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2010 AND DECEMBER 31, 2009
(UNAUDITED)

    MARCH 31     DECEMBER 31  
    2010     2009  
ASSETS
Current Assets            
Cash and cash equivalents $  1,815,756   $  1,987,616  
Accounts receivable, net   257,031     171,143  
Due from related parties   -     1,006  
Inventories   -     9,934  
Advances-current portion   302,503     256,225  
Other current assets   83,995     343,169  
      Total Current Assets   2,459,286     2,769,093  
          -  
Property and Equipment, net   528,696     547,727  
          -  
Deposit   365,706     365,647  
          -  
Advances   5,136,372     4,355,829  
          -  
Long-term Prepayments   22,033,960     18,961,869  
          -  
      Total Assets $  30,524,020   $  27,000,165  
             
LIABILITIES AND SHAREHOLDERS' EQUITY
             
Current Liabilities            
Accounts payable and accrued expenses $  1,306,145   $  1,186,923  
Advances from customers   48,697     48,690  
Due to related parties   89,771     3,364  
Total Liabilities   1,444,613     1,238,977  
             
Commitment            
             

Shareholders' Equity

           

Preferred stock, par value $0.001 per share, 20,000,000 shares authorized; 1,650,000 shares designated as series A convertible preferred stock, 1,606,000 and 1,650,000 shares of series A preferred stock outstanding at March 31, 2010 and December 31,2009

  1,606     1,650  

Common stock, $0.001 par value, 780,000,000 shares authorized, 111,943,670 and 104,943,337 issued and outstanding as of March 31, 2010 and December 31,2009

  111,944     104,944  

Additional Paid-in capital

  11,540,555     10,119,540  
Preferred stock to be issued   350,000     -  
Other comprehensive income   758,775     762,504  
Retained earnings   16,316,528     14,772,550  
Total shareholders' equity   29,079,407     25,761,188  
          -  
Total Liabilities and Stockholders' Equity $  30,524,020   $  27,000,165  

The accompanying notes are an integral part of these unaudited consolidated financial statements.

5


SINO GREEN LAND CORP AND SUBSIDIARIES
(FORMALLY, ORGANIC REGION GROUP LTD. AND SUBSIDIARIES)
CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009
(UNAUDITED)

    MARCH 31  
    2010     2009  
Net sales $  33,555,804   $  18,530,563  
             
Cost of goods sold   29,919,804     16,582,429  
Gross profit   3,635,999     1,948,134  
Operating expenses            
             Selling expenses   792,180     224,205  
             General and administrative expenses   654,758     936,952  
Total operating expenses   1,446,938     1,161,157  
             
Operating income   2,189,061     786,977  
Other income(expense)            
             Interest expenses (income)   1,606     (22,500 )
             Beneficial conversion feature expense   -     (125,000 )
             Other expense   (2,370 )   (284,248 )
                 Total other expense   (765 )   (431,748 )
          -  
Net Income   2,188,297     355,229  
             
Deemed preferred stock dividend   (644,318 )   -  
             
Net income available to common shareholders   1,543,978    

  355,229

 
Other comprehensive income (loss)            
             Foreign currency translation loss   (3,729 )   (26,941 )
Comprehensive income $  1,540,249   $ 328,228  
             
Net income per share            
             
             Basic $  0.01   $ 0.00   
             Diluted $  0.01   $  0.00   
             
Weighted average number of shares outstanding            
             
             Basic   109,193,511     83,314,851  
             Diluted   144,961,005     83,866,207  

The accompanying notes are an integral part of these unaudited consolidated financial statements.

6



SINO GREEN LAND CORP AND SUBSIDIARIES
(FORMALLY, ORGANIC REGION GROUP LTD. AND SUBSIDIARIES)
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE THREE MONTHS ENDED MARCH 31, 2010 AND 2009
(UNAUDITED)
             
  MARCH 31,  
    2010     2009  
Cash flows from operating activities            
   Net income $  2,188,297      $  355,229  
   Adjustments to reconcile net income to net cash provided by (used in) operating activities            
             
               Depreciation   20,638     21,010  
             Amortization   222,312     174,850  
             Stock award to director   3,613     -  
Decrease / (Increase) in current assets            
             Accounts receivable   (85,861 )   12,679  
             Inventories   9,935     10,168  
             Other current assets   706,326     (288,803 )
             Advances to suppliers   (1,273,256 )   11,652  
Increase (Decrease) in current liabilities            
           Accounts payable & accrued expense   (43,310 )   (477,268 )
         Tax payables   690     509  
         Other payables   155,729     (55,344 )
             
Net cash provided by (used in) operating activities   1,905,113     (235,318 )
             
Cash flows from investing activities            
             Acquisition of plant, property, and equipment   (1,520 )   (1,736 )
           Long-term prepayments   (3,291,384 )   (950,916 )
Net cash used in investing activities   (3,292,904 )   (952,652 )
             
Cash flows from financing activities            
           Proceeds from issuance of preferred stock   350,000     -  
           Proceeds from issuance of common stock   780,040     -  
           Due to related parties   (14,180 )   975,603  
           Convertible debenture   -     147,500  
Net cash provided by financing activities   1,115,860     1,123,103  
          -  
Effect of exchange rate change on cash and cash equivalents   100,071     (854 )
             
Net decrease cash and cash equivalents  

(171,860

)   (65,721 )
Cash and cash equivalents, beginning balance   1,987,616     544,860  
Cash and cash equivalents, ending balance $  1,815,756   $ 479,139  
             
Supplement disclosure of cash flow information            
         Interest expense paid $  -   $  -  
         Income taxes paid $  -   $  -  

The accompanying notes are an integral part of these unaudited consolidated financial statements.

7

SINO GREEN LAND CORP AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2009 AND 2008
 
                    2009     2008  
ASSETS     
Current Assets            
Cash and cash equivalents $  1,987,616   $  544,860  
Accounts receivable, net   171,143     200,731  
Due from related parties   1,006     352,799  
Inventories   9,934     16,931  
Advances-current portion   256,225     -  
Other current assets   343,169     58,045  
Total Current Assets   2,769,093     1,173,366  

Property and Equipment, net
  547,727     139,765  

Deposit
  365,647     -  

Advances
  4,355,829     497,568  

Long-term Prepayments
  18,961,869     16,258,707  

Total Assets
$  27,000,165   $  18,069,406  
LIABILITIES AND SHAREHOLDERS' EQUITY    
Current Liabilities            
Accounts payable and accrued expenses $  1,186,923   $  1,529,786  
Advances from customers   48,690     56,443  
Due to related parties   3,364     129,444  
Convertible debenture   -     313,627  
Total Current Liabilities   1,238,977     2,029,300  

Commitment
  -     -  

Shareholders' Equity
           
Preferred stock, $0.001 par value, 20,000,000 shares authorized, 1,650,000 and 0 share issued and outstanding as of December 31, 2009 and 2008   1,650     -  
Common stock, $0.001 par value, 780,000,000 shares authorized, 104,943,337 and 81,648,554 issued and outstanding as of December 31, 2009 and 2008   104,944     81,649  
Additional Paid-in capital   10,119,540     5,419,351  
Other comprehensive income   762,504     1,075,973  
Retained earnings   14,772,550     9,463,133  
Total shareholders' equity   25,761,188     16,040,106  

Total Liabilities and Stockholders' Equity
$  27,000,165   $  18,069,406  
 

 

SINO GREEN LAND CORP AND SUBSIDIARIES  
CONSOLIDATED STATEMENTS OF INCOME  
FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008  
   
    2009     2008  
             
Net sales $  108,045,437   $  73,562,759  

Cost of goods sold
  96,308,289     65,825,333  

Gross profit
  11,737,148     7,737,426  
             

Operating expenses
           
     Selling expenses   2,581,330     1,630,781  
     General and administrative expenses   2,249,364     1,040,452  
Total operating expenses   4,830,694     2,671,333  
             

Operating income
  6,906,454     5,066,193  

Other income(expense)
           
     Interest expenses, net   (353,973 )   (133,650 )
     Beneficial conversion feature expense   (153,425 )   (393,345 )
     Change in derivative liability   -     46,770  
     Others, net   154,404     15,399  
        Total other income (expense)   (352,994 )   (464,826 )

Net income
  6,553,460     4,601,367  

Dividend required for preferred stockholders
  (1,244,043 )   -  

Net income available to common shareholders
  5,309,417     4,601,367  

Other comprehensive income (loss)
           
     Foreign currency translation gain (loss)   (313,469 )   777,795  

Comprehensive income
$  4,995,948   $  5,379,162  

Net income per share
           
     Basic $  0.07   $  0.06  
     Diluted $  0.06   $  0.06  

Weighted average number of shares outstanding
           
     Basic   89,772,302     81,648,554  
     Diluted   117,579,469     81,648,554  
 

 

SINO GREEN LAND CORP AND SUBSIDIARIES    
CONSOLIDATED STATEMENTS OF CASH FLOWS    
FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008    
    2009     2008  
Cash flows from operating activities            
   Net income $  6,553,460   $  4,601,367  
   Adjustments to reconcile net income to net cash provided by operating activities            
               Depreciation   79,178     83,694  
               Amortization   627,304     508,713  
               Warrant expense   290,091     -  
               Beneficial conversion feature   153,425     393,345  
               Gain from debt forgiveness   (162,949 )   -  
               Change in derivative liability       (46,770 )
               Debt discount (part of interest expense)       71,266  
               Decrease / (Increase) in current assets            
                           Accounts receivable   29,140     5,893  
                           Inventories   6,957     23,992  
                           Other current assets   (285,095 )   (8,160 )
                           Deposit   (365,450 )    
                           Advances   (4,113,619 )   (23,745 )
                           Long-term prepaid expense   (3,363,950 )   (7,209,225 )
               Increase in current liabilities            
                           Accounts payable & accrued expense   (367,118 )   1,190,819  
                           Advances from customer   (7,629 )   (26,579 )
                           Tax payables   156     68  
                           Other payables   128,410     558,905  
    
     Net cash provided by operating activities
  (797,689 )   123,583  

Cash flows from investing activities
           
               Acquisition of plant, property, and equipment   (487,221 )   (4,276 )

Cash flows from financing activities
           
               Proceeds from (payment to) issuance of convertible notes   (502,684 )   500,000  
               Proceeds from issuance of preferred stock and warrants   1,555,000      
               Proceeds from issuance of common stock and warrants   1,636,000      
               Proceeds from (payments to) related parties   226,405     (603,970 )
    Net cash provided by (used in) financing activities   2,914,721     (103,970 )

Effect of exchange rate change on cash and cash equivalents
  (187,055 )   86,477  

Net increase in cash and cash equivalents
  1,442,756     101,814  

Cash and cash equivalents, beginning balance
  544,860     443,046  
Cash and cash equivalents, ending balance $  1,987,616   $  544,860  
             
Supplement disclosure of cash flow information            
               Interest expense paid $  104,800   $  –  
               Income taxes paid $  –   $  –  
 
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PostSubject
#65   moving things around looks interresting mymonies 08/14/17 05:26:22 PM
#64   Keeping this one on radar, PR states it's Sobek 08/13/17 04:52:34 PM
#63   $SGLA: Online Chinese Gambling Business.... Good possibility makinezmoney 08/11/17 10:42:36 AM
#62   NEWS: SGLA Restructuring Initiative to Accelerate Transformation zeekhoe 08/11/17 10:41:05 AM
#61   Any idea why the move? Mark 08/11/17 10:38:17 AM
#60   $SGLA: Starting to go here..... $0.0025 makinezmoney 08/11/17 09:51:18 AM
#59   no news nosellers and i want buy more. emailcheque 06/01/15 01:59:20 PM
#58   is this the new company Jining Sinotrading Co., Ltd. emailcheque 10/06/14 09:42:42 AM
#57   there is a company that want buy all emailcheque 10/06/14 09:27:45 AM
#56   there are chanches for this company here in emailcheque 08/11/14 01:05:49 PM
#55   end off this month i will buy more emailcheque 01/13/14 05:28:50 PM
#54   i'm interesting to buy all shares of this emailcheque 10/30/13 04:03:49 AM
#53   is this a scammer ? they not answer emailcheque 10/16/13 04:17:33 PM
#52   what can we do with the stocks restr emailcheque 10/16/13 05:43:36 AM
#51   waiting for the financel reports fot 2011 and 2012 emailcheque 10/11/13 05:40:00 AM
#50   Sorry don't follow any longer.. hank 10 bagger 09/23/13 03:20:03 PM
#49   waiting for news from sino, where the financel reports emailcheque 09/23/13 01:34:37 PM
#48   what are they doing, my bank did deliver emailcheque 09/09/13 04:19:26 PM
#47   Baboom $SGLA AliEn BRaInZ stox 08/27/13 01:09:04 PM
#46   SGLA.. I sold mine weeks ago below $0.25 10 bagger 10/28/10 10:07:04 AM
#45   Hank i just sold my 3k shares after pappy 10/28/10 10:02:31 AM
#44   SGLA.. $0.25 earnings.. 10 bagger 10/28/10 09:44:23 AM
#43   SGLA 8k HDOGTX 09/21/10 10:57:54 AM
#42   SGLA.. $0.25.. Another POS from CHINA.. 10 bagger 09/08/10 12:03:13 PM
#41   SGLAE..$0.22 Took my lumps today on SGLA... The reason 10 bagger 08/30/10 02:21:32 PM
#40   SINO GREEN LAND CORPORATION AND SUBSIDIARIES 10 bagger 08/30/10 12:08:07 PM
#39   SGLAE - Sino Green Land Reports 36.7% Increase 5point2 08/30/10 10:02:28 AM
#38   Hank I will hold my shares for now pappy 08/18/10 12:22:37 PM
#37   SGLA.. $0.25 10 bagger 08/18/10 08:14:33 AM
#36   SGLA - 10Q Due within the week. 5point2 08/11/10 12:22:35 PM
#35   SGLA - FORM S-1/A - August 4, 2010 5point2 08/06/10 01:17:55 PM
#34   SGLA.. $0.30 10 bagger 08/05/10 10:13:52 PM
#33   SGLA.. $0.30 10 bagger 08/05/10 10:12:03 PM
#31   sgla.. $0.25 10 bagger 07/13/10 12:01:09 PM
#30   SGLA.. $0.25 10 bagger 07/12/10 09:08:27 AM
#29   Hank I believe has a better handle on pappy 07/10/10 01:13:18 PM
#28   where do you see this a year from bradford86 07/09/10 09:12:45 PM
#27   SGLA.. $0.25 10 bagger 07/09/10 10:46:24 AM
#26   With the appointment of 3 of 5 Independant pappy 07/06/10 11:20:08 AM
#25   SGLA Good News.. $0.30 10 bagger 06/23/10 11:28:53 AM
#24   SGLA Export News 5point2 06/23/10 10:40:49 AM
#23   SGLA.. $0.2028 10 bagger 06/21/10 09:34:20 PM
#22   Was that you buying that 100 shares Hank,lol pappy 06/21/10 10:26:27 AM
#21   Thanks for the reply Hank. pappy 06/07/10 12:52:48 PM
#20   SGLA.. $0.2788 10 bagger 06/04/10 09:25:57 AM
#19   SGLA hasn't traded since I bought on May pappy 06/03/10 04:32:17 PM
#18   SGLA.. Private placement.. $0.20 10 bagger 05/27/10 12:47:31 PM
#17   SGLA@$0.30 is good enough. Im in. pappy 05/19/10 01:20:32 PM
#16   SGLA.. $0.31 10 bagger 05/18/10 02:35:27 PM
#15   SGLA.. $0.30 10 bagger 05/17/10 10:09:46 PM
PostSubject