in the 10K we find the following paragraph:
Our subsidiaries ZHTC, Changchun Nuoya and Harbin Nuoya are private schools not operated for reasonable returns; therefore, are not
allowed to distribute dividends. As of December 31, 2012 and 2011, the total un-distributable net assets of ZHTC, Changchun Nuoya and
Harbin Nuoya amounted to $33,169,873, and $31,225,001, respectively.
guys who can help me with this paragraph by answering the following questions:
1- do we read the number $33,829,591 like 33 million$ or 33 thousand dollars?
2- is this number consolidated in the financial statements?
3- what do they mean by they are private schools not operated for reasonable returns; therefore, are not allowed to distribute dividends? what is the reason?, there are laws for example that prevent such dividends?and when they will be allowed to collect those dividends?
I would much appreciate if someone can help me with this.
