Email Response from Xing Shen:
(regarding "Professional Fees" of $3,441,429)
Hi Tommy,
The consultants service fees are for two consulting services that we entered into in 2009. The services were for three years and services include client relationship and business development, government relationship, and strategic direction of the company. We paid 2.25 million common equity for the services. Because those restricted shares become free trading in q4 2010, our auditor asked us to expensed the entire remaining amount instead of amortizing over the service period. That makes the consulting expenses look very high in 2010.
Regards,
Xing
(I guess this doesn't look like a recurring charge either, so if we disregard this figure along with the impairment charge, then 2010 looks pretty dang good)
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