Joytoto USA 08/19/08 10Q HIGHLIGHTS: - Outstanding Shares 153,612,510 unchanged ** Assets over Liabilities divided by o/s = .0915/sh ! - Assets $14,848,433 Liabilities $779,911 - Assets over Liabilities + $14,068,522 - Revenues $732,239 - Net Loss $6,659,232, but expenses primarily consists of $6,250,000 in stock based compensation due to the shares granted to our executive officers under their employment agreements. - will continue to operate at a loss until at least the fourth quarter of 2008. - As stated above, we anticipate that our cash requirements will increase substantially as a result of the fact that we are now a public, reporting company and as we begin to increase operations to generate revenue from our license and distributorship agreements. We need construction cost of the online game portal and material cost of manufacturing consumer items because we are planning to provide online game service in the US and to manufacture consumer electronics goods such as our MP3 player. - Value: Upon execution of the Master License Agreement, we issued Joyon Korea thirty million (30,000,000) common shares as consideration. Prior to the acquisition of the Master License Agreement we had an independent business valuation performed whereby our enterprise value was calculated to be $0.1799 per share. Accordingly, the shares issued for the license were valued at $0.1799 per share. http://sec.gov/Archives/edgar/data/1178377/000136110608000276/joytoto_10q-063008.htm
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