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Ziyang Ceramics Reports Financial Results for the Year Ended December 31, 2011
at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=867957&ProfileId=051205&sourceType=1
ZHUCHENG, CHINA -- (Marketwire) -- 03/29/12 -- Ziyang Ceramics Corporation (OTCBB: ZYCI), a leading manufacturer of high quality interior porcelain tiles in China, announced today its financial results for the year ended December 31, 2011.
Revenue reached $43.1 million in 2011, up 38.7% from the $31.1 million recorded in 2010
Operating Income reached $13.1 million, up 45.2% from the $9.0 million recorded in 2010
Net Income for 2011 reached $10.8 million, up 49.1% from Net Income of $7.3 million recorded in 2010
Financial Highlights
For the full year of 2011, total revenues were $43.1 million, up 38.7% from the $31.1 million recorded in 2010. The increase in revenue was largely driven by a shift in sales mix toward our higher priced premium polycrystalline porcelain floor tiles introduced late in 2010 coupled with the launch of our new interior wall tile series in August of 2011. Gross profit rose by 36.5% to $14.8 million in 2011 compared to gross profit of $10.9 million achieved in 2010. Gross profit margin for 2011 was 34.4% compared to 34.9% in 2010 reflecting higher costs associated with the launch of the new interior wall tile series.
Total operating expenses for the full year of 2011 were $1.7 million, down 6.6% from $1.8 million recorded in 2010. The decrease is primarily attributable to $0.3 million reduction in retirement insurance expense, partially offset by $0.1 million increase in salaries and selling expenses.
For the full year of 2011 net income increased 49.1% to $10.8 million with 844,360 weighted average basic and diluted shares outstanding. This compares to net income of $7.3 million with 590,035 weighted average basic and diluted shares outstanding recorded in the same period in 2010. In January of 2012 the conditions were met for full conversion of two promissory notes into common stock of the company which will result in the issuance of approximately 8.9 million common shares. We issued these promissory notes in connection with our acquisition of Ziyang Ceramic Company Limited. After the issuance of the 8.9 million shares, we will have approximately 10 million common shares outstanding. If these shares are taken into account, our earnings per share would have been approximately $1.08 on 10 million common shares.
Balance Sheet
At December 31, 2011, total cash was $5.9 million, an increase of 21.0% from $4.9 million in total cash at December 31, 2010. Current assets were $14.2 million at December 31, 2011 compared to current assets of $11.0 million at December 31, 2010. Total shareholder equity increased to $21.7 million, up 63.4% compared to shareholder equity of $13.3 million at December 31, 2010.
Commenting on the financial results for the full year of 2011, Mr. Lingbo Chi, CEO of Ziyang Ceramics, stated, "2011 was a year of significant growth and change for our company. In addition to achieving strong top and bottom line performance, we completed the launch of a new interior wall tile series to help set the stage for future growth. We are confident that as we head into 2012 we are well positioned to continue our growth with our growing distribution base and our product roadmap. We look forward to improving on our 2011 performance as we look to maximize the value of our company for the benefit of our stockholders."
About Ziyang Ceramics Corporation
Ziyang Ceramics Corporation, headquartered in Zhucheng city of Shandong Province in China, manufactures porcelain tiles used for interior residential and commercial applications and sells through a distribution network of more than 150 distributors across 10 provinces, concentrating on major second and third tier cities located primarily in Eastern and Central China. For more information about Ziyang Ceramics Corporation, please visit: www.ziyangcorp.com.
ZIYANG CERAMICS CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
December 31, December 31,
2011 2010
------------- -------------
ASSETS
CURRENT ASSETS:
Cash $ 5,871,256 $ 4,851,436
Notes receivable 1,728,340
Accounts receivable 554,744 455,004
Inventories, net 2,629,125 2,550,636
Loan receivable 3,148,466 3,085,393
Prepaid expenses and other current assets 214,977 56,854
Total Current Assets 14,146,908 10,999,323
Restricted cash 544,481
Property and equipment, net 16,067,234 10,536,945
Long term prepaid expenses 2,796,828 2,760,746
Other long term assets 236,181 172,864
Total Assets $ 33,247,151 $ 25,014,359
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Loans payable-short term $ 5,588,527 $ 8,091,594
Notes payable 544,481
Notes payable-related party 1,007,420
Accounts payable and accrued expenses 2,004,573 1,480,395
Other payables 1,229,326 753,002
Advances from customers 332,495 255,448
Due to related party 559,325
Taxes payable 525,851 357,874
Derivative liability 24,777
Total Current Liabilities 11,272,294 11,482,794
Loans payable-long term 236,135 226,867
Total Liabilities 11,508,429 11,709,661
SHAREHOLDERS' EQUITY:
Ziyang Ceramics Corporation Shareholders'
equity
Common stock, $.001 par value, 500,000,000
shares authorized; 1,091,812 and 590,035
shares issued and outstanding at December 31,
2011 and 2010 1,092 590
Additional paid-in capital 7,320,512 7,294,207
Retained earnings 13,326,323 5,540,770
Other comprehensive income 1,090,795 469,131
Total Shareholders' Equity 21,738,722 13,304,698
Total Liabilities and Shareholders' Equity $ 33,247,151 $ 25,014,359
============= =============
ZIYANG CERAMICS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Year Ended Year Ended
December 31, December 31,
2011 2010
Net revenues $ 43,147,159 $ 31,101,051
Cost of revenues 28,313,055 20,234,098
Gross Profit 14,834,104 10,866,953
Operating expenses:
Selling expenses 212,508 171,631
General and administrative expenses 1,486,358 1,646,333
Total operating expenses 1,698,866 1,817,964
Operating income (loss) 13,135,238 9,048,989
Other (expenses) income:
Interest income 403,091 79,844
Interest expense (579,608) (407,031)
Interest expense - related party (20,149)
Gain from change in fair value of derivative
liability 120,625 -
Other expense (49,253) (939)
Total other expenses (125,294) (328,126)
Income (loss) before income taxes 13,009,944 8,720,863
Income taxes 2,175,118 1,452,993
Net Income $ 10,834,826 $ 7,267,870
Comprehensive Income:
Net Income $ 10,834,826 $ 7,267,870
Foreign currency translation gain 621,664 439,537
Comprehensive Income $ 11,456,490 $ 7,707,407
Basic and diluted net income per common share: $ 12.83 $ 12.32
At March 21, 2012, we had 1,093,031 shares of our common stock issued and outstanding.
Net income for 2011 was $10.8 million, or a 49.1% increase, compared with $7.3 million in 2010.
Wait and see,next week comes a news and full report 2011
Capten
The new trading symbol is ZYCI at the open of business on March 8, 2012.
http://app.quotemedia.com/quotetools/showFiling.go?webmasterId=89753&name=ZIYANG%20CERAMICS%20CORP:%208-K,%20Sub-Doc%201&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D23%26ipage%3D8121794%26DSEQ%3D1%26SQDESC%3DSECTION_BODY%26doc%3D1&cp=off&type=HTML
Capten
We wait for the new symbol,friday the 9th March is the last day.
8-K Report of unscheduled material events or corporate changes. 2 01/27/2012
[Show in Browser (2 pages)]
The symbol for our common stock will change to reflect our name change to Ziyang Ceramics Corporation 30 business after the effective date of the reverse stock split. We will file a current report announcing the new symbol once it is assigned.
http://app.quotemedia.com/quotetools/showFiling.go?webmasterId=89753&name=ZIYANG%20CERAMICS%20CORP:%208-K,%20Sub-Doc%201&link=http%3A//quotemedia.10kwizard.com/filing.xml%3Frid%3D23%26ipage%3D8018005%26DSEQ%3D1%26SQDESC%3DSECTION_BODY%26doc%3D1&cp=off&type=HTML
capten
No,GBDX is from the start on in trust,the fraud is not inside
http://www.sec.gov/Archives/edgar/data/1380222/999999999706044840/9999999997-06-044840-index.htm
William Hasletine Attorney for Global Diamond Exchange, Inc.
http://www.sec.gov/Archives/edgar/vprr/06/9999999997-06-044840
Capten
Good morning
China Ziyang Technology will own approximately 79.6%
LOS ANGELES, CA -- (Marketwire) -- 07/01/11 -- China Vesting, a leading investment newsletter dedicated to Chinese public companies listed in the United States, today announced that is has issued an update on Shanghai-based China America Holdings (OTCBB: CAAH). The update is available here: http://www.chinavesting.com/top-china-stock-pick-articles/China-America-Holdings-Increase-Net-Income-From-Zero-to-73-Million-2011-07-01.htm
China America Holdings announced yesterday that it has entered into a definitive share exchange agreement to acquire a 100% equity stake in China Ziyang Technology Company for a combination of a convertible promissory note and common stock valued at approximately $16 million. Upon completion of the transaction and assuming full conversion of the note, the new acquisition will own approximately 79.6% of the then issued and outstanding shares of China America Holdings.
After the Rs,we have 1091811 Shares in the market
Capten
Hi 'fnyack' Happy New Year!
The stock is the next 10-15 trading days go up,that's pure capital, before the share split
Capten
The effective date of the Reverse Stock Split will be January 27, 2012.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7975337
A Potential Ground Floor Opportunity With China America Holdings, Inc. (OTC.BB: CAAH)
http://www.otcmarkets.com/stock/CAAH/news
POINT ROBERTS, WA, Dec 19, 2011 (MARKETWIRE via COMTEX) -- www.InvestorIdeas.com, a global investor research portal for independent investors, publishes an industry overview and growth opportunities for China America Holdings (OTCBB: CAAH), a company positioned in the interior tile industry in China for both residential and commercial markets.
A Potential Ground Floor Opportunity with China America Holdings, Inc By: Patrick J. Murphy, Murphy Analytics LLC, a provider of sponsored research coverage on small cap stocks.
China America Holdings, Inc. (OTCBB: CAAH) is a holding company which owns a 100% stake in Ziyang Ceramics Co., Ltd. based in Zhucheng city of Shandong Province in China. Ziyang Ceramics Co., Ltd. manufactures porcelain tiles used for interior residential and commercial flooring and sells through a distribution network of more than 150 distributors across 10 provinces concentrating on major second and third tier cities located primarily in Eastern and Central China.
As an indication of the CAAH growth opportunity, following are comments and forecasts on the key markets and trends for Chinese real estate in general and for ceramic tiles in particular.
Cushman & Wakefield(i) estimates 35% Commercial Real Estate Development Growth for Q1 2011: "Chinese real estate market has gone through a year of stringent controls in 2010. In the first quarter of 2011, the commercial property market in China witnessed new highs in the office, retail, industrial and investment markets. In the first two months of 2011, total volume of investment in real estate development grew by 35% year-on-year. Despite the government's tightening control of the property market, the pace of the real estate development in China is still accelerating."
SouFun Holdings Limited America reports record revenue for Q3 2011: As another indicator of the growth of the Chinese real estate market, SouFun, which operates the leading real estate internet portal and home furnishing and improvement website in China, continues to report substantial growth. For Q3 11(ii), SFUN reported that quarterly revenue of $109 million nearly doubled over Q3 10. The Company also reported that revenue grew 116% from 2008 - 2010(iii). Marketing generated 75% of SFUN 2010 revenue, and includes traditional Internet advertisements such as banners, links, logos and floating signs, as well as featured promotions. As an illustration of the types of operators that are active in the real estate sector, SFUN reports that its customers consist of the types of customers also likely to be tile purchasers, including:
-- real estate developers
-- real estate professionals, such as agents and brokers
-- retailers and other suppliers of home furnishing and improvement
products and services
-- home design, decoration and re-modeling companies
-- banks offering residential mortgage loan products
Growth in China's Tile Market: Mohawk Industries , a leading U.S. flooring company, estimates(iv) that China's tile market grew 15.6% annually from 2005 to 2009, when annual sales reached 59,200 sq. ft. in sales in China.
China Ceramics Co. Ltd. Forecasts Net Increase in Urban Residential Building Stock in 10 Chinese Cities as Equal to or Greater than the Existing Residential Building Stock of Some European Countries: While the degree of growth cited by Cushman & Wakefield leads some to believe that the Chinese real market is strong and growing, this rapid growth has caused others to ask whether the Chinese real estate market is a bubble. This question was the subject a recent Time magazine article(v) in which the possibility of a Chinese real estate bubble was argued to be as important an economic question as the future of the Euro and whether the U.S. re-enters a recession.
While the growth of the Chinese real estate market may be unprecedented, the massive rural to urban migration continues as some estimates forecast that 400 million more Chinese citizens will urbanize over the coming decades. While the market's ability to address this massive historical and current growth may be uncertain in the near term, and the impact of PRC monetary and fiscal policy on the market also is uncertain, the longer term trend towards a massive continuing wave of urbanization seems clear.
As one example of the potential for companies whose products supply this urbanization, the following data from China Ceramics Co. Ltd. illustrates the magnitude of the opportunity. Citing sources(vi) including the Economist Intelligence Unit, National Bureau of Statistics (China), and UNECE, CCCL's September 2011 Investor Presentation provides the following comparison for growth in Chinese cities relative to ten European nations:
Forecast of Net Increase Existing Residential
2011 - 2020 Building Stock
Chongqing 1,109 Poland 807
Chengdu 447 Greece 494
Zhengzhou 396 Portugal 424
Tianjin 389 Sweden 411
Beijing 350 Czech Rep. 369
Xi'an 279 Romania 366
Changsha 272 Switzerland 352
Shanghai 271 Hungary 319
Shenzhen 265 Austria 318
Dongguan 234 Denmark 282
a. all data in mm sq. meters
b. Figures are for urban areas within referenced prefecture/municipality.
c. Chongqing municipality's unusually large increase partly reflects its
large size compared with other prefectures.
Although it may or may not be the case that China's real estate market has grown too much too fast, a longer term view seems to support the argument that a massive wave of urbanization is likely to continue, and this creates a broad range of commercial opportunity. With a reported $12 million in revenue for Q3 11 representing a 39% year over year increase, and a network of 150 distributors in 10 Chinese provinces, China America seems to be in position to take advantage of the long-term Chinese real estate and tile market trends.
Patrick Murphy Bio:
Patrick J. Murphy is the owner of Murphy Analytics LLC, a provider of sponsored research coverage on smallcap stocks. Mr. Murphy has nearly 20 years of capital markets experience providing institutional investment and transaction analysis across a range of asset classes including microcap equities, commercial real estate debt and equity, municipal derivatives and public finance, venture capital, fixed income, CMBS and mortgage REIT's. In addition to his work with Murphy Analytics, Mr. Murphy also serves as a consultant to a municipal derivatives advisory firm. Mr. Murphy is an alumnus of the University of Notre Dame (1991), with an undergraduate degree in Economics, and earned a Masters Degree in Finance from St. Louis University in 1997. Mr. Murphy is a CFA Charterholder and a member of the CFA Society of St. Louis.
China America Holdings, Inc. (OTCBB: CAAH) is a holding company which owns 100% stake in Ziyang Ceramics Co., Ltd. based in Zhucheng city of Shandong Province in China. Ziyang Ceramics Co., Ltd. manufactures porcelain tiles used for interior residential and commercial flooring and sells through a distribution network of more than 150 distributors across 10 provinces concentrating on major second and third tier cities located primarily in Eastern and Central China
Recent Stock Price: $0.0090
Shares Outstanding: 436.7 million
Recent Market Cap: $3.9 million
52 Week Range: $0.0025 - $0.0299
Exchange: OTCBB
Ticker: CAAH
URL: http://www.ziyangcorp.com/
Patrick Murphy Disclaimer:
Readers are advised that the above article is solely for information purposes and should not to be construed as an offer to sell or the solicitation of an offer to buy any security. The views expressed herein are based upon the author's analysis of the issuer's public disclosures, and assumes both their accuracy and completeness. The opinions and statements included herein are based on sources (including the companies discussed and public sources) believed to be reliable and in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. The author has not independently verified the information contained herein. This information is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. You should review a complete information package on all companies, which should include, but not be limited to, the Company's annual report, quarterly reports, press releases and all regulatory filings. The foregoing discussion contains statements which are based on current expectations, estimates and projections, and differences from such expectations, estimates and projections can be expected. The author, Patrick Murphy, was compensated $500 by InvestorIdeas.com for writing this article. Murphy does not own shares of any of the companies mentioned in this article. Mr. Murphy's research firm, Murphy Analytics, may be engaged for the provision of a research report on the Company in the future.
(i) http://www.cushwake.com/cwglobal/jsp/newsDetail.jsp?Country=2200198&Language=EN&repId=c38000006p
(ii) http://ir.soufun.com/phoenix.zhtml?c=233487&p=irol-newsArticle&ID=1628854&highlight=
(iii) http://services.corporate-ir.net/SEC/Document.Service?id=P3VybD1odHRwOi8vaXIuaW50Lndlc3RsYXdidXNpbmVzcy5jb20vZG9jdW1lbnQvdjEvMDAwMDk1MDEyMy0xMS0wNTgxODYvZG9jL1NvdUZ1bkhvbGRpbmdzTGltaXRlZF8yMEZfMjAxMTA2MTAucGRmJnR5cGU9MiZmbj1Tb3VGdW5Ib2xkaW5nc0xpbWl0ZWRfMjBGXzIwMTEwNjEwLnBkZg==
(iv) http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTE1MTM2fENoaWxkSUQ9LTF8VHlwZT0z&t=1
(v) http://www.time.com/time/magazine/article/0,9171,2096345-1,00.html
(vi) http://www.cceramics.com/images/09-23-2011%20CCCL%20Presentation%20v1.pdf
Visit the company profile at Investorideas.com http://www.investorideas.com/CO/CAAH/
About InvestorIdeas.com: InvestorIdeas.com is a leader in investor stock research by sector. Sectors we cover include; cleantech and renewable energy stocks, biotech stocks, mining and gold stocks, energy stocks, water, tech, defense stocks, nanotech, agriculture and gaming.
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BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894
Contact
Investorideas.com
800 665 0411
Dvanzant@investorideas.com
Contact Information:
Dore Perler
Pearl Group Advisors, Inc
954-232-5363
China America Holdings, Inc.
Lillian Wong
U.S. Representative
954-363-7333 ext. 317
SOURCE: China America Holdings, Inc.
CONTACT: mailto:Dvanzant@investorideas.com
Copyright 2011 Marketwire, Inc., All rights reserved.
-0-
SUBJECT CODE: Chemicals:Commodity Chemicals
Chemicals:Specialty Chemicals
The last thread with $0.0060 2,000 OBB 12/08 downe
the mm's collect the shares before the big run
The effective date of the Reverse Stock Split will be [X], 2011. The Reverse Stock Split will occur without any further action on the part of our shareholders. The Reverse Stock Split will become effective simultaneously for all of our outstanding shares of common stock, and the exchange ratio will be the same for all of our issued and outstanding shares of common stock. Subject to the provisions for elimination of fractional shares, the Reverse Stock Split will affect all of our shareholders uniformly and will not disproportionately affect any shareholder's percentage ownership in our company or proportionate voting power. No fractional shares of common stock will be issued to any shareholder in connection with the Reverse Stock Split and all fractional shares which might otherwise be issuable to a shareholder as a result of the Reverse Stock Split will be rounded up to the nearest whole share of post-Reverse Stock Split common stock.
In the next 20 days all points with a 8-K
From last filed
11/30/2011 (16:35 ET) CAAH: Filed New Form PRE 14C, Preliminary Information Statement - Edgar
These corporate actions will become effective as soon as possible, but not sooner than 20 days following the date that the accompanying information statement is first mailed to our shareholders
Capten
o effect a 400 for 1 reverse split of our issued and outstanding common stock (the “Reverse Stock Split”);
o create a class of preferred stock consisting of 10,000,000 shares, the designations and attributes of which are left for future determination by our board of directors (the “Preferred Stock”); and
o change our name to Ziyang Ceramics Corporation (the “Name Change”); and
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7931949
·
The ratification and approval of the appointment of two directors to serve on our board of directors (the “Director Appointments”).
These actions were approved by our board of directors on November 24, 2011, and the Majority Holders approved these actions by written consent in lieu of a special meeting on November 24, 2011 (the “Written Consent”) in accordance with the relevant sections of the Florida Business Corporation Act (“FBCA”).
WE ARE NOT ASKING YOU FOR A PROXY, AND YOU ARE REQUESTED NOT TO SEND US A PROXY.
No action is required by you. The accompanying information statement is furnished only to inform our shareholders of record on November 15, 2011 (the “Record Date”) of the corporate action taken by the Majority Holders in accordance with Rule 14c-2 of the Securities Exchange Act of 1934. These corporate actions will become effective as soon as possible, but not sooner than 20 days following the date that the accompanying information statement is first mailed to our shareholders. The information statement is first mailed to you on or about [X], 2011.The accompanying information statement also constitutes notice under Section 607.0704 of the FBCA that the corporate action was taken by Written Consent of the Majority Holders.
Please feel free to call us at 86-536-6046925 should you have any questions on the enclosed information statement. We thank you for your continued interest in China America Holdings, Inc.
It's all part of a plan .. wait and see
Capten
Very interesting
Global Diamond Exchange, Inc. Updated 11/24/2011
http://www.corporationwiki.com/New-York/New-York/global-diamond-exchange-inc/90983640.aspx
Officers
Richard A Altomare
Principal
Slava Beurikov
Chief Executive Officer
Didier Debonggo
President
Elena Voushva
Secretary
Global Diamond Exchange, Inc.Updated 10/22/2011
http://www.corporationwiki.com/Florida/Seminole/global-diamond-exchange-inc-3131905.aspx
Officers
Vissokovsky, Nikolaj
Treasurer
Vice President
Destatte, Joseph R.
President
Name Type City State
Global Diamond Exchange, Inc. Company Seminole FL
Global Diamond Exchange, Inc. Company New York NY
http://www.corporationwiki.com/search/results?term=Global+Diamond+Exchange%2C+Inc.&x=17&y=7
quietly working in the background!?
Capten
Is new www.ziyangcorp.com the time is verry near for going up, MM´s play
Capten
ZHUCHENG, CHINA -- (Marketwire) -- 11/16/11 -- China America Holdings, Inc. (OTCBB: CAAH), a holding company operating in China through its wholly owned subsidiary, Ziyang Ceramic Co., Ltd., announced today its financial results for the third quarter and first nine months of 2011.
http://www.knobias.com/story.htm?eid=3.1.0f3d58b0281179b78e253e5e712e4e1ab2a50c32ca26151ad5b1e7c014b8f418
Revenue Reaches $12 Million in 3rd Quarter of 2011, Up 38.7% from the $8.7 Million Recorded in the 3rd Quarter of 2010
Operating Income Climbs to $3.7 Million, Up 36.5% from the $2.7 Million Recorded in the 3rd Quarter of 2010
Net Income for the 3rd Quarter of 2011 reaches $3.1 Million, Up 42.3% from Net Income of $2.2 Million in the 3rd Quarter of 2010
Financial Highlights
Net revenues reached $12.0 million in the third quarter of 2011, up 38.7% from net revenues of $8.7 million recorded in the third quarter of 2010 and 21.2% from the second quarter of 2011. Net revenues for the first nine months of 2011 climbed to $29.4 million, up 28.3% from $22.9 million recorded in the same period in 2010. The increase in revenue was driven by a shift in sales mix toward our higher priced premium polycrystalline porcelain floor tiles in 2011 as compared greater unit volume of our lower priced porcelain floor tiles in 2010. The premium polycrystalline floor tile series, launched in the fourth quarter of 2010, is priced approximately 50% higher than our patterned polished porcelain floor tiles. Revenue in the third quarter of 2011 was also boosted by sales of our newest product series, interior porcelain wall tiles, which we launched in August of 2011. Gross profit in the third quarter of 2011 reached $4.4 million, up 39.8% from gross profit of $3.2 million in the third quarter of 2010. For the first nine months of 2011, gross profit climbed to $10.6 million, up 25.7% from $8.4 million recorded in the same period in 2010. Gross profit margins for the third quarter were 37% and 36% for the first nine months of 2011, and were consistent with the comparable 2010 periods. Our gross profit margins thus far in 2011 remained flat due to higher margins from sales of our polycrystalline floor tile series being offset by increases in cost of sales due primarily to increases in costs for raw materials, wages and benefits for manufacturing employees, and fuel.
Total operating expenses for the third quarter of 2011 were $774,000, up 58% from $491,000 in the third quarter of 2010. For the first nine months of 2011, total operating expenses were $1.9 million, up 45% from the same period in 2010. Operating expenses as a percentage of sales revenue remained stable at approximately 6.4% for the quarter and 6.5% for the first nine months of 2011, up from 5.7% in the comparable 2010 periods. The increase in operating expenses thus far in 2011 was primarily due to salary increases for sales and administrative employees, higher cost of welfare benefit programs due to higher inflation, as well as increases in research and development, and travel expenses related to the launch of our new interior porcelain wall tiles in the third quarter of 2011.
Net income for the third quarter of 2011 was $3.1 million, up 42% from $2.2 million in the same period in 2010. Earnings per basic and diluted share were $0.01 in the third quarter of 2011 compared to $0.01 in the first quarter of 2010. For the first nine months of 2011 net income increased by 25% to $7.1 million with earnings per basic and diluted share of $0.02, compared to net income of $5.7 million with earnings per basic and diluted of $0.02.
Balance Sheet
At September 30, 2011, cash was $5.8 million, up 20.6% from $4.9 million at December 31, 2010. At September 30, 2011 total shareholder equity increased to $17.9 million, up 34.3% compared to shareholder equity of $13.3 million at December 31, 2010.
Commenting on the third quarter, Mr. Lingbo Chi, CEO of China America Holdings, stated, "We are very pleased with the significant increase in our financial performance in the third quarter of 2011. Our higher end tiles have been well received in the marketplace and we are excited by the early sales results from our launch of interior wall tiles in the third quarter of 2011. We expect to see a progressive ramp up in sales from this new product line in the coming quarters. We intend to step up our marketing efforts for our higher end tiles we plan to brand to cater to more affluent consumers. We expect these efforts to drive our sales growth for the remainder of 2011 and beyond. We will also work diligently to control costs where possible to help us to continue on a track to deliver strong bottom line performance for the foreseeable future."
About China America Holdings, Inc.
China America Holdings, Inc. is a holding company which owns 100% stake in Ziyang Ceramics Co., Ltd. based in Zhucheng city of Shandong Province in China. Ziyang Ceramics Co., Ltd. manufactures porcelain tiles used for interior residential and commercial flooring and sells through a distribution network of more than 150 distributors across 10 provinces concentrating on major second and third tier cities located primarily in Eastern and Central China. For more information about Ziyang Ceramics visit www.ziyangcorp.com.
CHINA AMERICA HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
September 30, December 31,
2011 2010
-------------- --------------
Unaudited
ASSETS
CURRENT ASSETS:
Cash $ 5,849,559 $ 4,851,436
Notes receivable 1,728,340 -
Loan receivable 3,130,625 3,085,393
Accounts receivable 348,750 455,004
Inventories, net 3,095,687 2,550,636
Prepaid expenses and other current assets 206,476 56,854
-------------- --------------
Total Current Assets 14,359,437 10,999,323
-------------- --------------
LONG TERM ASSETS:
Restricted cash - 544,481
Property, plant and equipment, net 16,308,187 10,536,945
Intangible assets, net 2,800,046 2,760,746
Other long term assets 136,332 172,864
-------------- --------------
Total Assets $ 33,604,002 $ 25,014,359
============== ==============
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Loans payable-short term $ 7,435,235 $ 8,091,594
Notes payable - 544,481
Notes payable - related party 1,007,420 -
Accounts payable and accrued expenses 2,114,313 1,480,395
Advance from customers 163,783 255,448
Due to related party 564,399 -
Dividend payable 1,565,313 -
Taxes payable 763,418 357,874
Derivative liability 33,851 -
Other payables 1,851,444 753,002
-------------- --------------
Total Current Liabilities 15,499,176 11,482,794
-------------- --------------
LONG-TERM LIABILITIES:
Loans payable-long term 234,797 226,867
-------------- --------------
Total Liabilities 15,733,973 11,709,661
-------------- --------------
SHAREHOLDERS' EQUITY:
Common stock ($0.001 par value, 500,000,000
shares authorized; 436,724,592 shares and
236,013,800 shares outstanding at September
30, 2011 and December 31, 2010,
respectively.) 436,725 236,014
Additional paid-in capital 6,884,879 7,058,783
Retained earnings 9,586,115 5,540,770
Other comprehensive income 962,310 469,131
-------------- --------------
Total Shareholders' Equity 17,870,029 13,304,698
-------------- --------------
Total Liabilities and Shareholders' Equity $ 33,604,002 $ 25,014,359
============== ==============
CHINA AMERICA HOLDNGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited)
Three Months Ended Nine Months Ended
September 30, September 30,
-------------------------- --------------------------
2011 2010 2011 2010
Net revenues $ 12,024,707 $ 8,668,737 $ 29,372,914 $ 22,894,363
Cost of sales 7,577,946 5,487,324 18,799,532 14,484,474
------------ ------------ ------------ ------------
Gross profit 4,446,761 3,181,413 10,573,382 8,409,889
------------ ------------ ------------ ------------
Operating expenses:
Selling expenses 54,503 44,712 148,956 109,385
General and
administrative 719,532 445,885 1,761,306 1,206,872
------------ ------------ ------------ ------------
Total operating
expenses 774,035 490,597 1,910,262 1,316,257
------------ ------------ ------------ ------------
Operating income 3,672,726 2,690,816 8,663,120 7,093,632
------------ ------------ ------------ ------------
Other income
(expenses):
Other income
(expenses) (320) (8) (48,011) (683)
Interest income 101,544 5,991 301,204 16,447
Interest expense (167,803) (105,752) (437,929) (274,657)
Interest expense -
related party (10,074) - (10,074) -
Gain (Loss) from
change in fair
value of derivative
liability 111,551 - 111,551 -
------------ ------------ ------------ ------------
Total other income
(expenses) 34,898 (99,769) (83,259) (258,893)
------------ ------------ ------------ ------------
Income before income
taxes 3,707,624 2,591,047 8,579,861 6,834,739
Income taxes 607,825 412,021 1,485,243 1,181,456
------------ ------------ ------------ ------------
Net income 3,099,799 2,179,026 7,094,618 5,653,283
------------ ------------ ------------ ------------
Foreign currency
translation gain 176,975 106,966 493,179 192,363
------------ ------------ ------------ ------------
Comprehensive income $ 3,276,774 $ 2,285,992 $ 7,587,797 $ 5,845,646
============ ============ ============ ============
Basic and diluted
income per common
share $ 0.01 $ 0.01 $ 0.02 $ 0.02
Weighted common
shares outstanding-
basic and diluted 436,724,592 236,013,800 304,387,806 236,013,800
Safe Harbor Statement
China America Holdings, Inc. is hereby providing cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in forward-looking statements (as defined in such act). Any statements that are not historical facts and that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, indicated through the use of words or phrases such as "will likely result," "are expected to," "will continue," "is anticipated," "estimated," "intends," "plans," "believes" and "projects") may be forward-looking and may involve estimates and uncertainties which could cause actual results to differ materially from those expressed in the forward-looking statements. These statements include, but are not limited to, our guidance and expectations regarding revenues, margins, net income and earnings, and demand for recently launched products.
We caution that the factors described herein could cause actual results to differ materially from those expressed in any forward-looking statements we make and that investors should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of anticipated or unanticipated events or circumstances. New factors emerge from time to time, and it is not possible for us to predict all of such factors. Further, we cannot assess the impact of each such factor on our results of operations or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. This press release is qualified in its entirety by the cautionary statements and risk factor disclosure contained in our Securities and Exchange Commission filings, including our Annual Report on Form 10-K for the year ended September 30, 2010 and in our Current Report on Form 8-K/A (Amendment No. 3) as filed with the SEC on October 26, 2011.
Contact:
China America Holdings, Inc.
Lillian Wong
U.S. Representative
954-363-7333 ext. 317
Source: China America Holdings, Inc.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7905488
Our net revenues of $29.4 million for the nine months ended September 30, 2011 represented an increase of $6.5million, or 28.3%, over the same period in 2010. Our operating income for the nine months ended September 30, 2011 was $8.7 million, or 22.1% increase, as compared with $7.1 million for the same period in 2010. Net income for the nine months ended September 30, 2011 was $7.1 million, or 25.5% increase, compared with $5.7 million for the same period in 2010.
As some know more
capten
The stock is facing a new evaluation.
Capten
The stock is very compressed,it is time to go up
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. 200,710,792 shares of common stock are issued and outstanding as of May 20, 2011.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7632099
Good morning
CAAH has Shares AS 200,710,792 - 79.6% = new AS 40945001 or is wrong!?
Capten
China Vesting Issues Update on China America Holdings
Jul. 1, 2011 (Marketwire) --
LOS ANGELES, CA -- (Marketwire) -- 07/01/11 -- China Vesting, a leading investment newsletter dedicated to Chinese public companies listed in the United States, today announced that is has issued an update on Shanghai-based China America Holdings (OTCBB: CAAH). The update is available here: http://www.chinavesting.com/top-china-stock-pick-articles/China-America-Holdings-Increase-Net-Income-From-Zero-to-73-Million-2011-07-01.htm
China America Holdings announced yesterday that it has entered into a definitive share exchange agreement to acquire a 100% equity stake in China Ziyang Technology Company for a combination of a convertible promissory note and common stock valued at approximately $16 million. Upon completion of the transaction and assuming full conversion of the note, the new acquisition will own approximately 79.6% of the then issued and outstanding shares of China America Holdings.
As of May 20, 2011 China America had 200,710,792 shares of common stock issued and outstanding. Based on yesterday's company press release China Vesting calculates that 783,165,639 shares will be issued to China Ziyang, increasing the total number of shares outstanding to approximately 983,876,431. Based on yesterday's closing price of $0.018 the current market capitalization of the combined entity is $17,709,775.
According to China America, China Ziyang's estimated pro forma net income for 2010 is $7.3 million. 2011 estimated net income is expected to be at least 20% higher which would be $8.76 million. The current valuation of China Ziyang is a trailing 2010 Price to Earnings Ratio of 2.42 and a 2011 forward Price to Earnings Ratio of 2.02.
Yesss bingoooo
Updated 3/10/2011 - This profile of Noble Consolidated Industries Corp. was created using data from Dun & Bradstreet
http://www.corporationwiki.com/Nevada/Las-Vegas/noble-consolidated-industries-corp/57181442.aspx
Rendal Williams
Chief Executive Officer
Chairman of the Board
Michael A Kauffman
President
Richard A Taulli
Chief Operating Officer
William Roan
Vice-President
Noble Technologies Corp.
Updated 3/10/2011 - This profile of Noble Technologies Corp. was created using data from Dun & Bradstreet
http://www.corporationwiki.com/Georgia/Alpharetta/noble-technologies-corp/62105766.aspx
Officers
Charles Stickels
Vice-President
Noble Technologies Corp. has a location in Alpharetta, GA. Active officers include Charles Stickels. The company's line of business includes Custom Computer Programing.
Website: www.tgstech.com
Phone: (770) 645-0770
Category: Custom Computer Programing Custom computer programming services
A.K.A.: Noble Tek;
Source: Dun & Bradstreet last refreshed Thursday, March 10, 2011
Capten
China America Holdings, Inc.
Updated 6/26/2011 - This profile of China America Holdings, Inc. was created using data from Florida Department of State
Officers
Dore Perler
Shaoyin Wang
Director
President
Secretary
Treasurer
Aihua Hu
Director
Wang Shaoyin
Julie Slater
Shawn Tartaglia
GBDX is no longer tradable,for 2 weeks was listet
http://www.barchart.com/lookup.php?field=name&search=contains&string=GBDX&e=nf&type[]=2&type[]=1&type[]=5&type[]=9&type[]=10&type[]=4&type[]=CAN&type[]=LON&type[]=IND#results
i think a news is near
Capten
China America Holdings, Inc. has a location in Sunrise, FL. Active officers include Shaoyin Wang, Allen Hertz, Philip J Kendall, Richard Kendall, Lal Pinnaduwage and Bruce Warmack. The company's line of business includes Refrigeration Equipment and Supplies, Nsk.
http://www.corporationwiki.com/Florida/Sunrise/china-america-holdings-inc/53637304.aspx
Phone: (954) 726-1422
Category: Refrigeration Equipment and Supplies, Nsk Refrigeration equipment and supplies, Engines and parts, air-cooled the new business
Stock Symbols: CAAH on Over-the-counter (OTC)
Source: Dun & Bradstreet last refreshed Thursday, March 10, 2011
capten
Global Diamond Exchange, Inc. has a location in Seminole, FL. Active officers include Vissokovsky, Nikolaj and Destatte, Joseph R..
http://www.corporationwiki.com/Florida/Seminole/global-diamond-exchange-inc-3131905.aspx
Filings: Domestic for Profit Corporation (FL - Inactive)
Source: Florida Department of State last refreshed Friday, March 04, 2011
Officers at Global Diamond Exchange, Inc.
Click on Tip: click on the icoms below to view the Connection Visualizer for this entity to the left of the name to see the Connection Visualizer.
View the connections between Global Diamond Exchange, Inc. and Vissokovsky, Nikolaj Vissokovsky, Nikolaj Treasurer and Vice President at Global Diamond Exchange, Inc. Seminole, FL
View the connections between Global Diamond Exchange, Inc. and Destatte, Joseph R. Destatte, Joseph R. President at Global Diamond Exchange, Inc. Seminole, FL
capten
Hi fnyack
I do not know, but I think what is in the works, I found something interesting.....
Here's the old board with Aihua Hu
http://www.corporationwiki.com/Florida/Sunrise/china-america-holdings-inc-2608536.aspx
Officers
Dore Perler
Shaoyin Wang
Director
President
Secretary
Treasurer
Aihua Hu is out,see last filing
Director
Wang Shaoyin
Julie Slater
Shawn Tartaglia
And here´s the new board!
http://www.corporationwiki.com/Florida/Sunrise/china-america-holdings-inc/53637304.aspx
Shaoyin Wang
Chief Financial Officer
Chairman
Chairman of the Board
President
Chief Executive Officer
Allen Hertz
Scientifc&secrty Advisory Brd
Philip J Kendall
Scientifc&secrty Advisory Brd
Richard Kendall
Scientifc&secrty Advisory Brd
Lal Pinnaduwage
Scientifc&secrty Advisory Brd
Bruce Warmack
Scientifc&secrty Advisory Brd
And this is new
http://www.corporationwiki.com/Florida/Sunrise/china-america-holdings-inc/53637304.aspx
Capten
NOBLE TECHNOLOGIES CORP$46 million in 2010
http://www.tgstech.com/releases/2010/CACI_Announces_Intent_to_Acquire_TechniGraphics_Inc.pdf
NOBLE TECHNOLOGIES CORP
http://www.3ds.com/de/communities/partners/education-partnership/partner-list/partner-description/partner/NOBLE_TECHNOLOGIES_CORP-1/1/?cHash=d4630fa31d0ce21aa42320a76da0bd20
Unternehmensinfo
11575 GREAT OAKS WAY STE 130 ALPHARETTA
Staat/Bdld : GA
Land : UNITED STATES
Telefon : +1 770/645-0770
Fax : +1 770/645-0880
Internet : http://www.tgstech.com
TechniGraphics is now NobleTek
http://nobletek.com/content/technigraphics-now-nobletek
We are pleased to announce that the continued growth of TechniGraphics’ Engineering Services Division has prompted us to spin this division off as a separate company. The new company, Noble Technologies Corp. (dba NobleTek) is taking over all operational responsibilities for engineering services from TechniGraphics beginning October 1, 2010
U.S. Canadian Minerals, Inc. Completes Share Exchange with Noble ...
www.uscanadianmin.com/images/7-17%20Release.pdf
Dateiformat: PDF/Adobe Acrobat - Schnellansicht
17 Jul 2009 ... share exchange with Noble Technologies Corp, a private Nevada corporation ("Noble"). The Company issued and delivered 400000 Class A ...
Capten