<?xml version="1.0" encoding="UTF-8"?>
    <rss version="2.0">
        <channel>
            <title>African Business Review</title>
            <link>http://www.africanbusinessreview.co.za/</link>
            <description>African Business Review</description>
            <language>en</language>
            <copyright>Copyright 2012</copyright>
            <lastBuildDate></lastBuildDate>
            <generator>http://www.sixapart.com/movabletype/</generator>
            <docs>http://www.rssboard.org/rss-specification</docs>
    
            <item>
                <title>Petronet Plans LNG Terminal as Indian Demand for Gas Soars, an Industrial Info News Alert </title>
                <description><![CDATA[<div class="mw_release">
 <p>JOHANNESBURG, SOUTH AFRICA--(Marketwire - Jan 31, 2012) - Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas) -- Riding on the massive demand growth for natural gas in India, state-owned Petronet LNG Limited (New Delhi) plans to construct a $900 million liquefied natural gas (<a href="http://ctt.marketwire.com/?release=846163&amp;id=1209574&amp;type=1&amp;url=http%3a%2f%2fwww.industrialinfo.com%2fmarketcoverage.jsp%3fpagerequest%3dmarketcoverage02_intl">LNG</a>) terminal at Gangavaram in Andhra Pradesh. In 2009, Petronet LNG signed an agreement with two Australian subsidiaries of <a href="http://ctt.marketwire.com/?release=846163&amp;id=1209577&amp;type=1&amp;url=http%3a%2f%2ffinancialmarkets.industrialinfo.com%2findustrialinfo.%2fquote%3fSymbol%3d321%253A808963">ExxonMobil</a> (NYSE:XOM) (Irving, Texas) to supply LNG to its Kochi terminal from the Gorgon LNG project.</p>
        <p>For details, view the entire article by subscribing to Industrial Info&#039;s <em>Premium Industry News</em> at <a href="http://ctt.marketwire.com/?release=846163&amp;id=1209580&amp;type=1&amp;url=http%3a%2f%2fwww.industrialinfo.com%2fshowAbstract.jsp%3fnewsitemID%3d195734%26refer%3dmarketwire">http://www.industrialinfo.com/showAbstract.jsp?newsitemID=195734&amp;refer=marketwire</a>, or browse other breaking industrial news stories at <a href="http://ctt.marketwire.com/?release=846163&amp;id=1209583&amp;type=1&amp;url=http%3a%2f%2fwww.industrialinfo.com%2f">www.industrialinfo.com</a>.</p>
        <p>Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, and eight offices outside of North America, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info&#039;s quality-assurance philosophy, the Living Forward Reporting Principle&#8482;, provides up-to-the-minute intelligence on what&#039;s happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit <a href="http://ctt.marketwire.com/?release=846163&amp;id=1209586&amp;type=1&amp;url=http%3a%2f%2fwww.industrialinfo.com%2f">www.industrialinfo.com</a> "<a href="http://ctt.marketwire.com/?release=846163&amp;id=1209589&amp;type=1&amp;url=http%3a%2f%2fwww.industrialinfo.com%2fcontactus.jsp%3f">Contact Us</a>" page.</p>

          </div>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/petronet-plans-lng-terminal-as-indian-demand-for-gas-soars-an-industrial-info-news-alert</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/petronet-plans-lng-terminal-as-indian-demand-for-gas-soars-an-industrial-info-news-alert</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 04:35:00 +0530</pubDate>
            </item>
    
            <item>
                <title>Hillman Group Capital Trust Announces Cash Distribution on Trust Preferred Securities</title>
                <description><![CDATA[<p/>
<p/>
<p/>
 
<p/>
 
 
<p><span class="xn-location">CINCINNATI</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ --&#160;The Hillman Companies, Inc. ("Hillman" or the "Company"), &#8211; <span class="xn-person">Max W. Hillman</span>, Chief Executive Officer of The Hillman Companies, Inc. announced today that a cash distribution has been declared by Hillman Group Capital Trust for the month of <span class="xn-chron">February 2012</span> in the amount of <span class="xn-money">$.241667</span> for each Trust Preferred Security (NYSE-Amex: HLM_P).&#160; The distribution will be payable <span class="xn-chron">February 28, 2012</span> to holders of record <span class="xn-chron">February 20, 2012</span>.</p>

<p>Hillman sells to hardware stores, home centers, pet suppliers, mass merchants, and other retail outlets principally in <span class="xn-location">the United States</span>, <span class="xn-location">Canada</span>, <span class="xn-location">Mexico</span>, <span class="xn-location">Australia</span> and South America.&#160; Their product line includes thousands of small parts such as fasteners and related hardware items, keys, key duplication systems, and identification items, such as tags, letters, numbers and signs.&#160; Services offered include design and installation of merchandising systems and maintenance of appropriate in-store inventory levels.</p>

<p style="TEXT-ALIGN: center"><i>For more information on the Company, please visit our website at </i><a href="http://www.hillmangroup.com/" target="_blank"><i>http://www.hillmangroup.com</i></a><br/><i>&#160;or call Investor Relations at (513) 851-4900, ext. 2084</i></p>

<p style="TEXT-ALIGN: center">&#160;</p>

<p style="TEXT-ALIGN: left"/>
 
<p/>
<p>SOURCE  The Hillman Companies, Inc.</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/hillman-group-capital-trust-announces-cash-distribution-on-trust-preferred-securities</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/hillman-group-capital-trust-announces-cash-distribution-on-trust-preferred-securities</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Sunbelt International Financial Partnership Announcement</title>
                <description><![CDATA[<p>
<span class="xn-location">SHANGHAI, China</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ - Sunbelt International Inc (<a href="http://www.sunbelt-inter.com/">http://www.sunbelt-inter.com/</a>) (OTCBB: SUNB) is pleased to announce a letter of intent has been
 signed with a private Chinese banking consortium to work with
 non-dilutive equity financing.&#160; President of Sunbelt International Fang
 <span class="xn-person">Soo Liu</span> commented, "Opportunities this partnership provides will enable
 Sunbelt International to move forward with plans for expansion at a
 rapid pace."
</p>
<p>
With a recent major announcement estimating that wind power will account
 for 20% of the world&#039;s electricity supply by 2030, the potential for
 this renewable energy source around the world is at the highest level
 it has ever been.&#160; Sunbelt International recognizes Wind and Solar
 energy as one of the fastest-growing sources of energy.
</p>
<p>
Assisted by technological innovation and years of government subsidies,
 the cost of both wind and solar power has fallen significantly. These
 sustainable energy industries are striving to deliver electricity at
 prices competitive with power derived from fossil fuels.&#160; Over the last
 six years, wind turbine production has experienced 12-fold growth.
 Mr.Liu states that, "Sunbelt International is strategically placed to
 take advantage of the coming world wide demand." He further predicts
 continuous growth at an increasing rate for many years to come.
</p>
<p>  </p> <p> Sunbelt International Inc. Fang Soo Liu President&#160;<a href="mailto:fangsooliu@sunbeltenergy.net">fangsooliu@sunbeltenergy.net</a> </p> <p> <a href="mailto:info@sunbeltenergy.net">info@sunbeltenergy.net</a>&#160;<a href="http://www.sunbeltenergy.net">www.sunbeltenergy.net</a> </p> 
<p/>

<p>SOURCE  Sunbelt International Inc.</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/sunbelt-international-financial-partnership-announcement</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/sunbelt-international-financial-partnership-announcement</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Urban Pace Breaks Sales Records With 1020 Monroe Condominiums</title>
                <description><![CDATA[<p/>
<p/>
 
 
 
<p><span class="xn-location">WASHINGTON</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ -- <span class="xn-person">Lynn Hackney</span>, President of <a href="http://www.urbanpace.com/" target="_blank">Urban Pace</a>, a <a href="http://www.urbanpace.com/about/" target="_blank">new home sales and marketing company</a> for urban developers located in <span class="xn-location">Washington, DC</span>, is pleased to announce that Urban Pace is breaking new sales records at 1020 Monroe, an exclusive condominium building located in Columbia Heights. The building was 70% pre-sold before the Grand Opening on <span class="xn-chron">February 3, 2012</span> and is now 90% sold just 10 days later. Additionally, 1020 Monroe is selling for an average of <span class="xn-money">$521</span> per square foot, breaking the record for the Columbia Heights neighborhood.</p>

<p>(Photo:&#160;&#160;<a href="http://photos.prnewswire.com/prnh/20120210/PH51725LOGO" target="_blank">http://photos.prnewswire.com/prnh/20120210/PH51725LOGO</a> )</p>

<p><span class="xn-person">Jeremy Aldridge</span>, Vice President for Urban Pace remarks: "This amazing sales pace and price per square foot is attributed to the high quality design and attention to detail of the developer, Madison Investments and the sales and marketing acumen of Urban Pace. That combined with an ideal location makes it a win-win in urban residential real estate."</p>

<p>1020 Monroe offers 28 units laid out over four floors. On the street level of the building will be a restaurant / coffee lounge from restaurateur <span class="xn-person">Constantine Stravropoulos</span> of Tryst. Located just a few minutes from Columbia Heights and Petworth Metro, 1020 Monroe offers the best in urban living.</p>

<p>For more information about 1020 visit <a href="http://www.1020monroe.com/" target="_blank">www.1020monroe.com</a> or <a href="http://www.madisoninvestments.net/" target="_blank">www.madisoninvestments.net</a></p>

<p><b>About Urban Pace: <br/></b>Urban Pace, LLC is a privately owned company that has been in the business of <a href="http://www.urbanpace.com/" target="_blank">selling and marketing urban real estate</a> for more than 10 years.&#160; The Urban Pace portfolio of properties exceeds 2.2M square feet of <a href="http://www.urbanpace.com/" target="_blank">urban condominiums and townhomes</a> in the greater <span class="xn-location">Washington, DC</span> market area. For more information please visit <a href="http://www.urbanpace.com/" target="_blank">www.urbanpace.com</a> or call (202) 296-1203.&#160; Follow Urban Pace on Facebook, Twitter and Flickr. </p>

<p><b>Contact:</b> <br/><span class="xn-person">Stephanie Orton Lynch</span><br/>Director of Public Relations | Blue Bug Digital<br/>202.248.5855 | <a href="mailto:slynch@bluebugdigital.com" target="_blank">slynch@bluebugdigital.com</a></p>
<p>SOURCE  Urban Pace</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/urban-pace-breaks-sales-records-with-1020-monroe-condominiums</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/urban-pace-breaks-sales-records-with-1020-monroe-condominiums</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Gen-Probe to Webcast Two Upcoming Investor Presentations</title>
                <description><![CDATA[<p/>
<p/>
 
 
 
 
 
<p><span class="xn-location">SAN DIEGO</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ --&#160;Gen-Probe Incorporated (NASDAQ: GPRO) announced today that the Company will present at the Leerink Swann 2012 Global Healthcare Conference in <span class="xn-location">New York</span> on <span class="xn-chron">February 15</span> at <span class="xn-chron">2 p.m. Eastern Time</span> (ET), and at RBC Capital Markets&#039; Healthcare Conference&#160;in <span class="xn-location">New York</span> on <span class="xn-chron">February 28</span> at <span class="xn-chron">4:35 p.m. ET</span>.&#160; The presentations are scheduled to be webcast live and may be accessed through a link on the investors section of Gen-Probe&#039;s website at <a href="http://www.gen-probe.com/" target="_blank">www.gen-probe.com</a>. The webcasts will be available for 30 days following the events.</p>

<p><b><u>About Gen-Probe</u></b></p>

<p>Gen-Probe is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective molecular diagnostic products and services that are used primarily to diagnose human diseases, screen donated human blood, and ensure transplant compatibility. Gen-Probe is headquartered in <span class="xn-location">San Diego</span> and employs approximately 1,400 people. For more information, go to <a href="http://www.gen-probe.com/" target="_blank">http://www.gen-probe.com</a>. </p>

<p><b><u>Caution Regarding Forward-Looking Statements<br/></u><br/></b>Any statements in this press release about our expectations, beliefs, plans, objectives, assumptions, or future events or performance are not historical facts and are forward-looking statements.&#160; Forward-looking statements are not guarantees of performance.&#160; They involve known and unknown risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied.&#160; For information about risks and uncertainties we face and a discussion of our financial statements and footnotes, see documents we have filed with the SEC, including our most recent Form 10-K, and all subsequent periodic filings.&#160; We assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.</p>

<p><u>Contact:</u></p>

<p><span class="xn-person">Paula Izidoro</span><br/>Investor Relations<br/>858-410-8904</p>

<p/>
<p/>
 
<p/>
<p>SOURCE  Gen-Probe Incorporated</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/gen-probe-to-webcast-two-upcoming-investor-presentations</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/gen-probe-to-webcast-two-upcoming-investor-presentations</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Lenovo Is Inspiring Students To DO Great Things - And Helping Schools With a Chance to Win a Technology Makeover</title>
                <description><![CDATA[<p/><b>
</b> 
 
 
<p><span class="xn-location">MORRISVILLE, N.C.</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ -- Worldwide PC maker Lenovo has launched their <i>Dream To DO </i>Contest, giving schools across the country a chance to win a technology makeover valued at <span class="xn-money">$50,000</span>. The contest is open to all accredited schools, grades K-8 in the U.S and runs through <span class="xn-chron">April 16, 2012</span>. On behalf of their school, parents and educators can submit drawings created by K-8 students illustrating what they want to DO when they grow up. To learn more about the <i>Dream To DO </i>Contest, visit <a href="http://www.lenovodreamtodo.com/" target="_blank">http://www.LenovoDreamToDo.com</a> &#160;<br/><br/>Lenovo makes the tools for those who DO. And when it comes to young students, the potential for DOing is limitless. "Students can do anything when they put their minds to it," says <span class="xn-person">Michael Schmedlen</span>, Director, Worldwide Education, at Lenovo. "We&#039;re powering their dreams and aspirations with the tools that allow them to achieve." </p>

<p>As the #1 PC maker in education worldwide, Lenovo is striving to enhance the digital learning experience for all students. Schools across the nation are hindered by limited technology resources, and Lenovo believes the <i>Dream To DO</i> Technology Makeover Contest will have a lasting and positive impact on the winning school. </p>

<p>As part of their commitment to education, Lenovo is also giving teachers some powerful tools to enhance learning. Teachers can download or request by mail Lenovo&#039;s <i>"What Will You DO When You Grow Up?"</i> Career Lesson Kit. Each lesson plan inspires and educates students about potential career choices. Available for grades K&#8211;8, the lesson plans were developed to support Common Core state standards by grade level and include free classroom materials. Lesson kits are available at <a href="http://www.lenovodreamtodo.com/teachers" target="_blank">http://www.LenovoDreamToDo.com/teachers</a>.<br/><br/>By registering for the <i>Dream To DO </i>Contest, participants will automatically be entered into a sweepstakes for a chance to win a Lenovo ThinkPad X130e laptop &#8212; built ultra rugged for students. For complete rules and to enter the <i>Dream To DO</i> Contest, visit <a href="http://www.lenovodreamtodo.com/" target="_blank">http://www.LenovoDreamToDo.com</a>.<br/><br/>Lenovo (HKSE: 992) (ADR: LNVGY) is a <span class="xn-money">$US21 billion</span> personal technology company &#8211; and the second largest PC company in the world, serving customers in more than 160 countries. Dedicated to building exceptionally engineered PCs and mobile internet devices, Lenovo&#039;s business is built on product innovation, a highly-efficient global supply chain and strong strategic execution. Formed by Lenovo Group&#039;s acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo has major research centers in Yamoto, <span class="xn-location">Japan</span>; <span class="xn-location">Beijing, China</span>; and <span class="xn-location">Raleigh, North Carolina</span>. For more information, see <a href="http://www.lenovo.com/" target="_blank">www.lenovo.com</a> </p>
<p>SOURCE  Lenovo</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/lenovo-is-inspiring-students-to-do-great-things---and-helping-schools-with-a-chance-to-win-a-technol</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/lenovo-is-inspiring-students-to-do-great-things---and-helping-schools-with-a-chance-to-win-a-technol</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>U.S. Exports Hit More Than $178.8 Billion in December</title>
                <description><![CDATA[<p/>
 
 
 
<p><span class="xn-location">WASHINGTON</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire-USNewswire/ -- <span class="xn-location">The United States</span> exported <span class="xn-money">$178.8 billion</span> in goods and services in <span class="xn-chron">December 2011</span>, an increase of <span class="xn-money">$1 billion</span> over <span class="xn-chron">November 2011</span>, according to data released today by the Bureau of Economic Analysis (BEA) of the U.S. Commerce Department. </p>

<p>(Logo: <a href="http://photos.prnewswire.com/prnh/20110414/MM83673LOGO" target="_blank">http://photos.prnewswire.com/prnh/20110414/MM83673LOGO</a> )</p>

<p>Exports of goods and services over the last twelve months totaled <span class="xn-money">$2.103 trillion</span>, which is 33.53 percent above the level of exports in 2009. Over the last twelve months, exports have been growing at an annualized rate of 15.6 percent when compared to 2009, a pace greater than the 15 percent required to double exports by the end of 2014.</p>

<p>"U.S. exports play an essential role in our economic recovery, and it&#039;s vital that we provide American business owners with the resources they need to compete in a 21st century global economy," said <span class="xn-person">Fred P. Hochberg</span>, chairman and president of the Export-Import Bank of <span class="xn-location">the United States</span> (Ex-Im Bank). "Ex-Im Bank remains committed to reaching new customers and to helping level the playing field for our nation&#039;s exporters." </p>

<p/>
<p>Over the last twelve months, the major export markets with the largest annualized increase in U.S. goods purchases were <span class="xn-location">Turkey</span> (43.6 percent), <span class="xn-location">Panama</span> (38.6 percent), <span class="xn-location">Honduras</span> (35.0 percent), <span class="xn-location">Argentina</span> (33.2 percent), <span class="xn-location">Hong Kong</span> (31.7 percent), <span class="xn-location">Chile</span> (30.3 percent), <span class="xn-location">Peru</span> (30.0 percent), <span class="xn-location">Brazil</span> (28.3 percent), <span class="xn-location">South Africa</span> (28.0 percent), and <span class="xn-location">Guatemala</span> (26.6 percent).</p>

<p><b>About Ex-Im Bank:<br/></b>Ex-<span class="xn-person">Im Bank</span> is an independent federal agency that helps create and maintain U.S. jobs by filling gaps in private export financing at no cost to American taxpayers. In the past six years, Ex-Im Bank has earned for U.S. taxpayers <span class="xn-money">$3.7 billion</span> above the cost of operations. The Bank provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services.</p>

<p>Ex-<span class="xn-person">Im Bank</span> approved <span class="xn-money">$32.7 billion</span> in total authorizations in FY 2011 -- an all-time Ex-Im record. This total includes more than <span class="xn-money">$6 billion</span> directly supporting small-business export sales -- also an Ex-Im record. Ex-<span class="xn-person">Im Bank</span>&#039;s total authorizations are supporting an estimated <span class="xn-money">$41 billion</span> in U.S. export sales and approximately 290,000 American jobs in communities across the country. For more information, visit <a href="http://www.exim.gov/" target="_blank">www.exim.gov</a>.</p>

<p>&#160;</p>

 
<p>&#160;</p>

 
<p><br/>&#160;</p>
<p>SOURCE  Export-Import Bank of <span class="xn-location">the United States</span></p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/us-exports-hit-more-than-1788-billion-in-december</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/us-exports-hit-more-than-1788-billion-in-december</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>SinoCoking Coal and Coke Chemical Industries Announces 2012 Second Quarter Financial Results</title>
                <description><![CDATA[<p>PINGDINGSHAN, <span class="xn-location">China</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire-Asia-FirstCall/ -- SinoCoking Coal and Coke Chemical Industries, Inc. (Nasdaq:SCOK) (the "Company" or "SinoCoking"), a vertically-integrated coal and coke processor, today announced its financial results for the fiscal 2012 second quarter ended <span class="xn-chron">December 31, 2011</span>. &#160; </p>
<p><u><b>Fiscal 2012 Second Quarter vs. Fiscal 2011 Second Quarter</b></u></p>
<ul type="disc"><li>Revenue increased by 3.3% to approximately <span class="xn-money">$17.3 million</span> from approximately <span class="xn-money">$16.7 million</span> due to stronger revenue from coal products offset by weaker revenue from coke products. </li><li>Due to tight coal supplies, revenue from the sale of <u>coal products</u> increased by 16.9% to approximately <span class="xn-money">$8.4 million</span>, despite a 16.3% decrease in total metric tons sold. &#160;Coal revenue accounted for 48.7% of total revenue for the quarter as compared to 43.0% of total revenue last year. &#160;<ul type="circle"><li>Raw coal revenue decreased by 74.4% as a result of a 2.7% decrease in average selling prices and a 73.9% decrease in sales volume. &#160;We were unable to produce or purchase sufficient raw coal to sell as a result of the mining moratorium.</li><li>Washed coal revenue increased by 76.7% due to the increase in sales volume and average selling price.</li></ul></li><li>Due to weaker demand from steel mills, revenue from the sale of <u>coke products</u> decreased by 7.0% to approximately <span class="xn-money">$8.9 million</span> and comprised 51% of total revenue for the quarter as compared to 57% a year ago. <ul type="circle"><li>Total metric tons of coke products sold decreased 1.6% while average selling prices decreased by 1.7%. </li><li>Total metric tons of coal tar sold decreased 50.1% while average selling prices for coal tar increased by 5.8%.</li></ul></li><li>Gross margin decreased to 19.0% as compared to 42.5%, due to significantly increased average prices of raw coal purchased by the Company as a result of coal supply shortages. &#160;</li><li>Income from operations decreased to <span class="xn-money">$2.3 million</span> from <span class="xn-money">$6.3 million</span>.</li><li>Pre-tax income, including the change in fair value of warrants, increased to <span class="xn-money">$3.6 million</span> as compared to a loss of <span class="xn-money">$5.7 million</span>. (1)</li><li>Net income, including the change in fair value of warrants, was <span class="xn-money">$2.6 million</span>, as compared to a loss <span class="xn-money">$7.0 million</span>. (1) </li><li>Excluding the change of fair value of warrants, net income was <span class="xn-money">$1.3 million</span>, or <span class="xn-money">$0.06</span> per diluted share as compared to a loss <span class="xn-money">$4.5 million</span>, or <span class="xn-money">$0.21</span> per share. (1)</li></ul><br/><p><u><b>Fiscal 2012 Six Months vs. Fiscal 2011 Six Months </b></u></p>
<ul type="disc"><li>Revenue increased by 32.6% to approximately <span class="xn-money">$39.5 million</span>, primarily due to increased coke and coal sales. </li><li>50.0% of the revenue came from the sale of coke products and 50.0% from coal products, as compared to 62.7% from coke products and 37.3% from coal products for the same period a year ago. &#160;The percentage changes reflect the decreased demand of the coke products and increased demand of coal products. </li><li>Volume of coke and coal products sold increased by 3.1% and 18.1%, respectively, due to increased sales for both product categories.</li><li>Gross margin decreased to 26.6% as compared to 39.5%, due to significantly increased average prices of raw coal purchased by the Company driven as a result of coal supply shortages. &#160;</li><li>Income from operations decreased to <span class="xn-money">$9.0 million</span> from <span class="xn-money">$9.9 million</span>.</li><li>Pre-tax income, including the change in fair value of warrants, increased to <span class="xn-money">$13.4 million</span> from <span class="xn-money">$10.7 million</span>. (1)</li><li>Net income, including the change in fair value of warrants, was <span class="xn-money">$11.0 million</span>, as compared to <span class="xn-money">$8.5 million</span>. (1) </li><li>Excluding the change of fair value of warrants, net income was <span class="xn-money">$6.68 million</span>, or <span class="xn-money">$0.31</span> per diluted share as compared to <span class="xn-money">$7.0 million</span>, or <span class="xn-money">$0.33</span> per diluted share. (1)</li></ul><br/><p><i>(1) Change in fair value of warrants amounted to <span class="xn-money">$1,343,214</span> and <span class="xn-money">$4,362,936</span> in gain for the three and six months ended <span class="xn-chron">December 31, 2011</span>, respectively, as compared to <span class="xn-money">$11,447,532</span> in losses and <span class="xn-money">$1,472,143</span> in gain for the three and six months ended <span class="xn-chron">December 31, 2010</span>.</i></p>
<p>Discussing the mining operations, SinoCoking&#039;s Chairman and CEO, Mr. <span class="xn-person">Jianhua Lv</span> noted, "During the second quarter of fiscal 2012, coal supplies in <span class="xn-location">Henan Province</span> remained limited as production activities continued to be well below capacity due to the ongoing mining moratorium. &#160;Since the shutdown of mining operations in late <span class="xn-chron">June 2010</span>, our Hongchang coal mine had been operating at approximately 50% capacity until it halted operations in <span class="xn-chron">September 2011</span> to complete certain mine engineering work and safety upgrades, which were completed by the end of <span class="xn-chron">September 2011</span>. &#160;As a result, volume of coke and coal products sold (other than washed coal) decreased in the second quarter of fiscal 2012. &#160;However, due to a significant increase in sales volume and average selling price of washed coal, our overall revenue for the three and six months ended <span class="xn-chron">December 31, 2011</span> increased by 3.3% and 32.6%, respectively. &#160;As of <span class="xn-chron">December 31, 2011</span> and the date of this release, all our coal mines were awaiting governmental confirmation to resume operations. &#160;We are working closely with authorities to expedite permits and clearance notices for our four mines so that we can resume mining operations at full capacity."</p>
<p>Discussing the new coking facility, Mr. Lv went on to say, "As previously announced, during the quarter ended <span class="xn-chron">December 31, 2011</span>, we completed the construction of the coking ovens and coking chambers, which are the heart of the facility. &#160;Severe rain during the months of September to November slowed the pace of construction as we were required to build rain- and wind-proof sheds or canopies, which enabled us to complete the construction of coking ovens through the inclement weather. &#160;Additionally, during the quarter, we completed the construction of another key component of the facility, the quench tower, which is designed and engineered to clean and cool exhaust gases to the saturation temperature using water vapor. &#160;We are currently working to complete the coal blending and screening portions of the facility. &#160;Following equipment installation and testing, the Company will begin its work on the by-product recovery portion of the facility (i.e., benzene, tar and thiamine)."</p>
<p>Mr. Lv added, "The completion of the construction of our new coking facility was delayed due to another factor which resulted in a shift of our short-term strategic priorities. &#160;During 2011 calendar year, we noted a weaker demand for metallurgical coke from steel mills which we believe will continue in the 2012 calendar year. &#160;As a result, since mid of 2011, we focused our efforts on strategic alternatives and increased our trading activities by purchasing unprocessed coal from other provinces which we processed and sold as washed coal. &#160;Additionally, we believe that our coal mines should be able to resume mining operations at full capacity in the spring of 2012, which would supply us with sufficient coal to sell, and to generate cash to fund our operations. &#160;Despite the current weak market conditions for coke, we expect the market to recover by the end of 2012, and we continue to remain focused on our long-term business plan which includes: (1) expanding and upgrading our existing production capacity to achieve greater energy efficiency and reduce environmental impact; (2) recapturing more coking by-products for refinement into useful industrial chemicals, and production of more high value-added chemical products; (3) the acquisition of other coal mines to source raw materials; and (4) strategic cooperation with state-owned coal companies including Zhengzhou Coal Group to indirectly control coal resources, secure our internal material requirements including those for our new coking facility and ensure stable supply for coal trading, although our arrangement with Zhengzhou Coal is currently halted due to its lack of coal supply.</p>
<p>"We will continue to provide investors with updates related to the progress made in the construction of our new coking facility and the resumption of our coal mining operations. &#160;Pictures of the construction of the facility are available on our website <a href="http://www.sinocokingchina.com/">www.sinocokingchina.com</a>."</p>
<p>Mr. <span class="xn-person">Sam Wu</span>, SinoCoking&#039;s Chief Financial Officer noted, "We continue to fund our business activities from cash flow from operations. &#160;During the six months period ended <span class="xn-chron">December 31, 2011</span>, we used approximately <span class="xn-money">$15.8 million</span> in investing activities, and used approximately <span class="xn-money">$28.6 million</span> in purchasing and advanced payments for the equipment and machinery for our new coking facilities.  We prepaid approximately <span class="xn-money">$1.9 million</span> to purchase the land use rights for expanding our current coking site in order to accommodate the coal preparation system.  For the six months period ended <span class="xn-chron">December 31, 2011</span>, we received repayments of loans from two individual borrowers of approximately <span class="xn-money">$8.75 million</span>, and a refund of prepayment for mine acquisitions of approximately <span class="xn-money">$7.86 million</span>. Additionally, we have access to an aggregate of approximately <span class="xn-money">RMB 360 million</span> (approximately <span class="xn-money">$56.6 million</span>) under a medium-term loan, and also through our arrangement with Pingdingshan Rural Cooperative Bank, we have access to a <span class="xn-money">$30.3 million</span> line of credit. &#160;We believe that cash on hand and our credit lines are sufficient for our current needs for capital." </p>
<p><u><b>Conference Call</b></u></p>
<p>SinoCoking&#039;s Chairman and CEO, <span class="xn-person">Jianhua Lv</span>, and CFO, <span class="xn-person">Sam Wu</span>, will host a conference call on <span class="xn-chron">Monday, February 13, 2012</span> at <span class="xn-chron">9:00 am ET</span> to discuss these results as well as recent corporate developments. &#160;</p>
<p>Interested parties may participate in the call by dialing: (201) 493-6744. Please call in 10 minutes before the conference is scheduled to begin and ask for the SinoCoking call. After opening remarks, there will be a question and answer period. Questions may be asked during the live call, or alternatively, you may e-mail questions in advance to <a href="mailto:lcati@equityny.com">lcati@equityny.com</a>.</p>
<p>The conference call will also be broadcast live over the Internet. To listen to the webcast, please go to <a href="http://www.sinocokingchina.com/">www.sinocokingchina.com</a> and then to the Presentations/Events page where the conference call is posted. Please go to the website at least 15 minutes early to register, and download and install any necessary audio software. If you are unable to listen live, the conference call will be archived and can be accessed for approximately 90 days. We suggest listeners use Microsoft Internet Explorer as their web browser.</p>
<p><u><b>About SinoCoking</b></u></p>
<p>SinoCoking and Coke Chemical Industries, Inc., a <span class="xn-location">Florida</span> corporation, is a vertically-integrated coal and coke processor that uses coal from both its own mines and that of third-party mines to produce basic and value-added coal products for steel manufacturers, power generators, and various industrial users. SinoCoking has been producing metallurgical coke since 2002, and acts as a key supplier to regional steel producers in central <span class="xn-location">China</span>. SinoCoking also produces and supplies thermal coal to its customers in central <span class="xn-location">China</span>. SinoCoking currently owns its assets and conducts its operations through its subsidiaries, Top Favour Limited and Pingdingshan Hongyuan Energy Science and Technology Development Co., Ltd., and its affiliated companies, Henan Province Pingdingshan Hongli Coal &amp; Coke Co., Ltd., Baofeng Coking Factory, Baofeng Hongchang Coal Co., Ltd., Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd., Zhonghong Energy Investment Company, Henan Hongyuan Coal Seam Gas Engineering Technology Co., Ltd., Baofeng Shuangrui Coal Mining Co., Ltd., Baofeng Xingsheng Coal Mining Co., Ltd. and Baofeng Shunli Coal Mining Co., Ltd.</p>
<p>For further information about SinoCoking, please refer to our periodic reports filed with the Securities and Exchange Commission.</p>
<p><u><b>Forward Looking Statement</b></u></p>
<p>This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company&#039;s financial position and business strategy. The words or phrases "plans", "would be," "will allow," "intends to," "may result," "are expected to," "will continue," "anticipates," "expects," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "think", "considers" or similar expressions are intended to identify "forward-looking statements." These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of local, regional, and global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from the Company&#039;s expectations and estimates. The Company provides no assurances that any potential acquisitions will actually be consummated, or if consummated that such acquisitions will be on terms and conditions anticipated on the date of this press release, and the Company makes no assurances with regard to any results of any such acquisitions.</p>
<div style="margin-bottom:.0001in; margin-top:.0001in"><table cellpadding="1" cellspacing="0" style="border-collapse:collapse;border:none;"><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Contact:</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">SinoCoking</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Investor Relations Counsel:</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Sam Wu, Chief Financial Officer</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">The Equity Group Inc.</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">+ 86-375-2882-999</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Lena Cati </span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><a class="prnews_a" href="mailto:sinocoking@sina.com"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">sinocoking@sina.com</span></a><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><a class="prnews_a" href="mailto:lcati@equityny.com"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">lcati@equityny.com</span></a><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> &#160;/ (212) 836-9611</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><a class="prnews_a" href="http://www.sinocokingchina.com/"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">www.sinocokingchina.com</span></a></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><a class="prnews_a" href="http://www.theequitygroup.com/"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">www.theequitygroup.com</span></a></p>
</td><td/></tr><tr><td/><td/></tr></table><br/><br/></div><p>See Accompanying Tables</p>
<div style="margin-bottom:.0001in; margin-top:.0001in"><table cellpadding="1" cellspacing="0" style="border-collapse:collapse;border:none;"><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><tr><td colspan="11" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="11" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><b><span class="prnews_span" style="font-family:Arial;font-size:8pt;">SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES, INC. AND SUBSIDIARIES</span></b></p>
</td><td/></tr><tr><td colspan="11" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><b><span class="prnews_span" style="font-family:Arial;font-size:8pt;">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) </span></b></p>
</td><td/></tr><tr><td colspan="11" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><b><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(UNAUDITED)</span></b></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">For the Three Months Ended December 31,</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">For the Six Months Ended December 31,</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2011</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2010</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2011</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2010</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">REVENUE</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">17,297,333</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">16,745,332</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">39,448,667</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">29,753,794</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">COST OF REVENUE</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">14,008,015</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">9,634,955</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">28,955,472</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">17,999,064</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">GROSS PROFIT &#160; &#160; </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,289,318</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">7,110,377</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">10,493,195</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">11,754,730</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">OPERATING EXPENSES:</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Selling</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">43,324</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">71,447</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">124,867</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">155,914</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">General and administrative</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">906,367</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">736,493</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,333,786</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,671,640</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total operating expenses</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">949,691</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">807,940</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,458,653</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,827,554</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">INCOME FROM OPERATIONS</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,339,627</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">6,302,437</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">9,034,542</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">9,927,176</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">OTHER INCOME (EXPENSE)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Interest income</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">218,749</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">943</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">777,300</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,030</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Interest expense</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(315,463)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(230,937)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(731,022)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(273,532)</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Other finance expense</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(37,767)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(283,112)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(73,433)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(304,554)</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Other income (expense), net</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,492</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(52,689)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(9,089)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(109,387)</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Change in fair value of warrants</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,343,214</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(11,447,532)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">4,362,936</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,472,143</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total other income (loss)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,217,225</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(12,013,327)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">4,326,692</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">792,700</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">INCOME (LOSS) BEFORE INCOME TAXES </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,556,852</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(5,710,890)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">13,361,234</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">10,719,876</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">PROVISION FOR INCOME TAXES</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">911,148</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,278,833</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,406,817</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,227,601</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">NET INCOME (LOSS)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,645,704</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(6,989,723)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">10,954,417</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,492,275</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">OTHER COMPREHENSIVE INCOME </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Foreign currency translation adjustment</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">640,615</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,055,897</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,829,359</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,202,196</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">COMPREHENSIVE INCOME (LOSS)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,286,319</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(5,933,826)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">12,783,776</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">10,694,471</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">WEIGHTED AVERAGE NUMBER OF COMMON SHARES</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Basic </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">21,090,948</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">20,871,725</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">21,090,948</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">20,871,458</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Diluted </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">21,090,948</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">20,871,725</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">21,090,948</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">20,984,101</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">EARNINGS (LOSS) PER SHARE </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Basic</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">0.13</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(0.33)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">0.52</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">0.41</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Diluted</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">0.13</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(0.33)</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">0.52</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 10pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">0.40</span></p>
</td><td/></tr><tr><td colspan="11" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td/><td/><td/><td/><td/><td/><td/><td/><td/><td/><td/></tr></table><br/><br/></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellpadding="1" cellspacing="0" style="border-collapse:collapse;border:none;"><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><tr><td colspan="10" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES, INC. AND SUBSIDIARIES</span></u></p>
</td><td/></tr><tr><td colspan="10" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">CONDENSED CONSOLIDATED BALANCE SHEETS</span></u></p>
</td><td/></tr><tr><td colspan="10" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(UNAUDITED)</span></u></p>
</td><td/></tr><tr><td colspan="10" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">ASSETS</span></u></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">December 31,</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">June 30,</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2011</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2011</span></p>
</td><td/></tr><tr><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">CURRENT ASSETS</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Cash</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">4,284,601</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">26,266,687</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Restricted cash</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">10,432,500</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,320,500</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Accounts receivable, trade, net</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">11,855,965</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,489,272</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Loans receivable</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">10,000,637</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">16,764,390</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Notes receivable, trade</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">5,112,250</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">-</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Other receivables</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,487,951</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">232,126</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Receivable, mine acquisition prepayments</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">12,248,282</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">-</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Inventories</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,731,766</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,010,926</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Advances to suppliers </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">9,854,042</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,994,833</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Advances to suppliers -related party</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">-</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">575,700</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total current assets</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">74,007,994</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">72,654,434</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td/></tr><tr><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">PLANT AND EQUIPMENT, net</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">16,723,340</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">17,157,542</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">CONSTRUCTION IN PROGRESS</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">38,983,421</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">23,204,544</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">OTHER ASSETS</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Prepayments for land use rights</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">11,033,400</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,980,335</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Prepayments for mine acquisitions</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">4,719,000</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">25,546,922</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Prepayments for construction </span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">21,641,955</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,134,736</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Intangible - land use rights, net</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,918,006</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,919,987</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Intangible - mineral rights, net</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">29,681,308</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">29,408,865</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Long-term investments</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,803,195</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,753,660</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Other assets</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">110,682</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">108,290</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total other assets</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">71,907,546</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">76,852,795</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total assets</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="top"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">201,622,301</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">189,869,315</span></p>
</td><td/></tr><tr><td/><td/><td/><td/><td/><td/><td/><td/><td/><td/></tr></table><br/><br/></div><div style="margin-bottom:.0001in; margin-top:.0001in"><table cellpadding="1" cellspacing="0" style="border-collapse:collapse;border:none;"><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><tr><td colspan="9" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="9" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">SINOCOKING COAL AND COKE CHEMICAL INDUSTRIES, INC. AND SUBSIDIARIES</span></u></p>
</td><td/></tr><tr><td colspan="9" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">CONDENSED CONSOLIDATED BALANCE SHEETS</span></u></p>
</td><td/></tr><tr><td colspan="9" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(UNAUDITED)</span></u></p>
</td><td/></tr><tr><td colspan="9" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: center; "><u><span class="prnews_span" style="font-family:Arial;font-size:8pt;">LIABILITIES AND EQUITY</span></u></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">December 31,</span></p>
<p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2011</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; " valign="bottom"><p style="margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">June 30,</span></p>
<p style="white-space: nowrap;  margin:0in; text-align: center; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2011</span></p>
</td><td/></tr><tr><td colspan="5" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">CURRENT LIABILITIES</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; " valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Short term loans - bank</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">5,033,600</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">4,950,400</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Accounts payable, trade</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,995</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">144,147</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Notes payable, trade</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,146,000</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">-</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Other payables and accrued liabilities</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">811,608</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,426,285</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Other payables - related party</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">409,048</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">455,768</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Customer deposits</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">90,306</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">127,965</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Taxes payable</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,820,436</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">2,856,671</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total current liabilities</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">12,314,993</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">9,961,236</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="5" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">LONG TERM LIABILITIES</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Long term loans</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">56,628,000</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">55,692,000</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Warrants liability</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">1,206,111</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">5,569,047</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total long term liabilities</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">57,834,111</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-top:solid black 1pt; border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">61,261,047</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total liabilities</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">70,149,104</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">71,222,283</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="5" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">COMMITMENTS AND CONTINGENCIES</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td colspan="5" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">EQUITY</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Common shares, $0.001 par value,</span></p>
<p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> 100,000,000 authorized, 21,090,948</span></p>
<p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> and 21,090,948 issued and outstanding</span></p>
<p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> as of December 31 and June 30, 2011, </span></p>
<p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> respectively</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">21,091</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">21,091</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Additional paid-in capital</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,442,083</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,442,083</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Statutory reserves</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,687,214</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">3,403,793</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Retained earnings</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">108,718,378</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">98,004,993</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Accumulated other comprehensive income</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">6,941,231</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">5,111,872</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="3" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total SinoCoking Coal and Coke</span></p>
<p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> Chemicals Industries, Inc&#039;s equity</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">122,809,997</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">109,983,832</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="4" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">NONCONTROLLING INTERESTS</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,663,200</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">8,663,200</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total equity</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">131,473,197</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:solid black 1pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">118,647,032</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td colspan="2" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Total liabilities and equity</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">201,622,301</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style="margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">$</span></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;border-bottom:double black 2.5pt; padding-right: 6pt; " valign="bottom"><p style="white-space: nowrap;  margin:0in; text-align: right; "><span class="prnews_span" style="font-family:Arial;font-size:8pt;">189,869,315</span></p>
</td><td/></tr><tr><td colspan="9" style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td/></tr><tr><td/><td/><td/><td/><td/><td/><td/><td/><td/></tr></table><br/><br/></div>
<p>SOURCE  SinoCoking Coal and Coke Chemical Industries, Inc.</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/sinocoking-coal-and-coke-chemical-industries-announces-2012-second-quarter-financial-results</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/sinocoking-coal-and-coke-chemical-industries-announces-2012-second-quarter-financial-results</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Schultze Asset Management Founder George Schultze Delivers Key Comments in Harvard Business School Corporate Restructuring Course</title>
                <description><![CDATA[<p><span class="xn-location">PURCHASE, N.Y.</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ --&#160;George Schultze, Founder and Managing Member of Schultze Asset Management, LLC ("SAM"), was a key speaker today in <span class="xn-org">Harvard Business School</span>&#039;s <u>Creating Value Through Corporate Restructuring</u> course taught by Professor <span class="xn-person">Stuart Gilson</span>.&#160; During this morning&#039;s two sessions, he discussed important risks and opportunities for distressed securities investors in mature industries as demonstrated by the <u>Harvard Business Review</u> case ("Arch Wireless, Inc.") which he helped develop based on his experiences investing in that company.&#160; "It&#039;s always a great honor to join Professor Gilson as a guest speaker in his class.&#160; Both the professor and students are excellent and each year that I come in, I feel that I learn something new as well!"&#160; Mr. Schultze added that today&#039;s capital markets show interesting similarities for post-reorganization securities to those evident when Arch Wireless restructured a number of years ago.&#160; Similarly, he noted that companies in many of today&#039;s very mature industries - such as publishing, yellow pages, and retailing - could benefit from the extreme cost cutting and other shareholder-friendly actions that Arch management employed after it emerged from reorganization.&#160; </p>

<p>Schultze Asset Management, LLC ("SAM") is a specialist alternative investments firm founded by <span class="xn-person">George Schultze</span> in 1998.&#160; It manages pooled investment vehicles and managed accounts for hundreds of clients worldwide with a particular emphasis on distressed securities and special situation investing.&#160; More information about SAM is available at <a href="http://www.samco.net/" target="_blank">www.samco.net</a>.</p>

<p><b><u>CONTACTS:</u></b></p>

<p><span class="xn-person">George J. Schultze</span>, Managing Member, (914) 701-5260&#160;<u><a href="mailto:schultze@samco.net" target="_blank">schultze@samco.net</a>&#160;<br/></u><span class="xn-person">Robert Winkler</span>, (914) 701-5260 <u><a href="mailto:rwinkler@samco.net" target="_blank">rwinkler@samco.net</a> </u></p>

<p/>
 
<p/>
<p>SOURCE  Schultze Asset Management, LLC</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/schultze-asset-management-founder-george-schultze-delivers-key-comments-in-harvard-business-school-c</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/schultze-asset-management-founder-george-schultze-delivers-key-comments-in-harvard-business-school-c</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Babson Professor Greene Receives USASBE Entrepreneurial Advocacy Award</title>
                <description><![CDATA[<p><span class="xn-location">WELLESLEY, Mass.</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire-USNewswire/ -- Babson Entrepreneurship Professor <span class="xn-person">Patricia G. Greene</span> has received the <span class="xn-person">John E. Hughes</span> Award for Entrepreneurial Advocacy from the United States Association for Small Business and Entrepreneurship (USASBE).<br/><br/>Greene holds the Paul T. Babson Chair in Entrepreneurial Studies at Babson. She previously served as Provost, and before that as the Dean of the Undergraduate School.<br/><br/>At Babson, Greene&#039;s current assignment is to serve as the National Academic Director for the Goldman Sachs 10,000 Small Businesses <br/>initiative and advisor to the 10,000 Women program.<br/><br/>Named after its first recipient, <span class="xn-person">John E. Hughes</span>, the award is presented to an individual or organization that has consistently contributed <br/>encouragement; support; physical, intellectual, and/or spiritual resources; time; talent and/or skills; development; and/or financial <br/>contribution to further the cause of entrepreneurship.<br/><br/>Greene&#039;s research focuses on the identification, acquisition, and combination of entrepreneurial resources, particularly by women and <br/>minority entrepreneurs.<br/><br/>She is a founding member of the Diana Project, a research group focusing on women and the venture capital industry. The Diana Projects books include International Women&#039;s Entrepreneurship: Research on the Growth of Women Owned Businesses, Women and Entrepreneurship: Contemporary Classics, and Clearing the Hurdles: Women Building High Growth Businesses (republished in Chinese). She is also a co-editor (with <span class="xn-person">Mark Rice</span>) of the book, Entrepreneurship Education. Her most recent book, (with <span class="xn-person">Mark Rice</span>, <span class="xn-person">Michael Fetters</span>, &amp; <span class="xn-person">John Butler</span>) is The Development of University-Based Entrepreneurship Ecosystems: Global Practices. Her work has been published in journals including Journal of Business Venturing, Venture Capital, Entrepreneurship Theory and Practice, Journal of Business Research, Small Business Economics, Academy of Management Executive, Journal of Small Business Management and The National Journal of Sociology.<br/><br/>Prior to joining <span class="xn-person">Babson Greene</span> held the Ewing Marion Kauffman/Missouri Chair in Entrepreneurial Leadership at the <span class="xn-org">University of Missouri - Kansas City</span> (1998-2003) and the New Jersey Chair of Small Business and Entrepreneurship at <span class="xn-org">Rutgers University</span> (1996-1998).<br/><br/>She was a founding member of the Rutgers Center for Entrepreneurial Management and the coordinator of the Rutgers Entrepreneurship <br/>Curriculum. At UMKC she helped to found KC SourceLink, the Entrepreneurial Growth Resource Center (EGRC), the iStrategy Studio, the Business and Information Development Group (BRIDG), the UMKC Students in Free Enterprise Program (SIFE), the Kauffman Entrepreneurship Internship Program (KEIP), the Entrepreneurial Effect, the Network for Entrepreneurship Educators and Researchers (NEER), and the annual regional Business Plan Competition.<br/><br/>Greene is Board Chair for the Center for Women&#039;s Business Research, and serves on the advisory boards of Enterprising Women, the National Association of Women Business Owners, and Key Bank&#039;s Key4Women. She is an appointed member of the national advisory board for the Small Business Administration&#039;s Small Business Development Center program. She is a fellow of the IC2 Institute at the <span class="xn-org">University of Texas at Austin</span> and the Special Academic Advisor for the Guardian Life Small Business Research Institute. Her past service work includes serving as co-chair of the Steering Committee for the Entrepreneurship Affinity Group of the AACSB, and sitting on the boards of the State of Missouri Small Business Development Centers, Kansas Women&#039;s Business Center, Growth Opportunity Connection, the Kansas City ATHENAPowerLink<span>&#8482;</span> and the Helzberg Entrepreneurial Mentoring Program. Greene is a frequent speaker at national and international events. Prior to becoming a professor she worked primarily in the health care industry.<br/><br/>Greene earned a Ph.D. from the <span class="xn-org">University of Texas at Austin</span>, an MBA from the <span class="xn-org">University of Nevada, Las Vegas</span>, and a BS from the <span class="xn-org">Pennsylvania State University</span>.<br/><br/><b>USASBE</b><br/>The United States Association for Small Business and Entrepreneurship (USASBE) is the largest independent, professional, academic organization in the world dedicated to advancing the discipline of entrepreneurship. With over 1000 members from universities and colleges, for-profit businesses, nonprofit organizations, and the public sector, USASBE is a diverse mix of professionals that share a common commitment to fostering entrepreneurial attitudes and behaviors.<br/><br/><b><span class="xn-org">Babson College</span></b><br/><span class="xn-org">Babson College</span> is the educator, convener, and thought leader for Entrepreneurship of All Kinds<span>&#174;</span>. The College is a dynamic living and <br/>learning laboratory, where students, faculty, and staff work together to address the real-world problems of business and society -- while at the same time evolving our methods and advancing our programs. We shape the leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to create economic and social value. As we have for nearly a half-century, Babson continues to advance Entrepreneurial Thought and Action(r) as the most positive force on the planet for generating sustainable economic and social value. For information, visit <a href="http://www.babson.edu/" target="_blank">www.babson.edu</a>. </p>

<p>This news release was issued on behalf of Newswise<span>&#8482;</span>. For more information, visit <a href="http://newswise.com">http://newswise.com</a>.</p>
<p>SOURCE  <span class="xn-org">Babson College</span></p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/babson-professor-greene-receives-usasbe-entrepreneurial-advocacy-award</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/babson-professor-greene-receives-usasbe-entrepreneurial-advocacy-award</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>American Airlines Obtains Final Stock and Claims Order for Trading Requirements</title>
                <description><![CDATA[<p style="TEXT-ALIGN: center"/>
 
<p/>
 
 
<p><span class="xn-location">FORT WORTH, Texas</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ -- On <span class="xn-chron">Nov. 29, 2011</span>, AMR Corporation ("AMR") and certain of its subsidiaries, including American Airlines, Inc. and AMR Eagle Holding Corporation (collectively, the "Debtors"), filed a motion (the "Motion") with the United States Bankruptcy Court for the Southern District of <span class="xn-location">New York</span> (the "Bankruptcy Court") seeking an order (i) restricting certain transfers of interest in AMR Common Stock (trading symbol: AAMRQ), and certain transfers of claims against the Debtors, and (ii) imposing certain notification requirements with respect to substantial owners of AMR Common Stock and substantial owners of unsecured claims against the Debtors (including certain tax-exempt bonds and instruments issued by obligors in leveraged lease and non-leveraged lease structures that represent or subsequently may represent interests in claims against the Debtors).&#160; The order is intended to prevent certain transfers of AMR Common Stock and certain transfers of claims against the Debtors that could impair the ability of one or more of the Debtors&#039; estates to use their net operating loss carryovers and certain other tax attributes on a reorganized basis.</p>

<p>After having granted the Motion on <span class="xn-chron">Nov. 30, 2011</span>, on an interim basis only, the Bankruptcy Court entered a modified order on a final basis (the "Final Order") on <span class="xn-chron">Jan. 27</span>, 2012.&#160; All procedures reflected in the Final Order currently apply and must be complied with.&#160; Accordingly, any acquisition, disposition, or other transfer of equity or claims on or after <span class="xn-chron">Nov. 29, 2011</span>, in violation of the restrictions set forth in the Final Order shall be null and void <i>ab initio</i> and/or subject to sanctions as an act in violation of the automatic stay under sections 105(a) and 362 of the United States Bankruptcy Code.</p>

<p>The Final Order applies to "Substantial Equityholders," being persons who are, or as a result of a transaction would become, the beneficial owner of approximately 4.5 percent of the outstanding shares of AMR Common Stock.&#160; It also applies to "Substantial Claimholders," being persons who are, or as a result of a transaction become, the beneficial owner of unsecured claims in excess of a threshold amount of unsecured claims.&#160; The initial threshold amount is <span class="xn-money">$190 million</span>, but the amount may be subsequently increased or decreased under certain circumstances in connection with the Debtors&#039; filing of a Chapter 11 plan.&#160; A copy of the notice of the Final Order, which includes complete definitions of "Substantial Equityholders" and "Substantial Claimholders" and the applicable notification requirements and restrictions, is available on the website of the Debtors&#039; claims agent: <a href="http://www.amrcaseinfo.com/restrictions.php" target="_blank">http://www.amrcaseinfo.com/restrictions.php</a>&#160; </p>

<p><b>About American Airlines<br/></b>American Airlines, American Eagle and the AmericanConnection<sup>&#174;</sup> carrier serve 260 airports in more than 50 countries and territories with, on average, more than 3,300 daily flights. The combined network fleet numbers more than 900 aircraft. American&#039;s award-winning website, AA.com<sup>&#174;</sup>, provides users with easy access to check and book fares, plus personalized news, information and travel offers. American Airlines is a founding member of the <b>one</b>world<sup>&#174;</sup> alliance, which brings together some of the best and biggest names in the airline business, enabling them to offer their customers more services and benefits than any airline can provide on its own. Together, its members and members-elect serve more than 900 destinations with more than 10,000 daily flights to 149 countries and territories. American Airlines, Inc. and American Eagle Airlines, Inc. are subsidiaries of AMR Corporation. AmericanAirlines, American Eagle, AmericanConnection, AA.com, and AAdvantage are trademarks of American Airlines, Inc.&#160; AMR Corporation common stock trades under the symbol "AAMRQ" on the OTCQB marketplace, operated by OTC Markets Group.</p>

<p>AMR Corporation, and certain of its <span class="xn-location">United States</span>-based subsidiaries, including American Airlines, Inc. and AMR Eagle Holding Corporation, on <span class="xn-chron">Nov. 29</span> filed voluntary petitions for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of <span class="xn-location">New York</span>. More information about the Chapter 11 filing is available on the Internet at <a href="http://aa.com/restructuring" target="_blank">http://aa.com/restructuring</a>.</p>

<p><b>Forward Looking Statements<br/></b>This press release contains "forward-looking statements." These statements are based on AMR management&#039;s current expectations and assumptions, and as such involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that the company now anticipates &#8212; both in connection with the Chapter 11 filings and AMR&#039;s business and financial prospects. Statements of management&#039;s expectations, including its desire to successfully restructure in order to return the company to long term viability and financial strength, to compete effectively in the marketplace, to cut costs and to restore profitability, are based on current assumptions and expectations. No assurance can be made that these events will come to fruition. Readers are referred to the documents filed by the company with the Securities and Exchange Commission, which further identify the important risk factors which could cause actual results to differ materially from the forward-looking statements in this release. Those risks include, without limitation, the potential impact of volatile and rising fuel prices. The company disclaims any obligation to update any forward looking statements.</p>

<p><i>Current AMR Corp. news releases can be accessed at</i><i> <a href="http://www.aa.com/" target="_blank">http://www.aa.com</a></i></p>

<p>&#160;</p>
<p>SOURCE  AMR Corporation; American Airlines</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/american-airlines-obtains-final-stock-and-claims-order-for-trading-requirements</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/american-airlines-obtains-final-stock-and-claims-order-for-trading-requirements</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>LeapFrog to Webcast Investor Event on February 14, 2012</title>
                <description><![CDATA[<p/>
<p/>
 
<p/>
 
 
<p><span class="xn-location">EMERYVILLE, Calif.</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ -- LeapFrog Enterprises, Inc. (NYSE:LF) today announced that it will webcast a presentation to investors and analysts on <span class="xn-chron">Tuesday, February 14, 2012</span>, at <span class="xn-chron">8:30 a.m. Eastern Standard Time</span> (<span class="xn-chron">5:30 a.m. Pacific Standard Time</span>).&#160; The webcast will include presentations given by the company&#039;s management team, including <span class="xn-person">John Barbour</span>, Chief Executive Officer, and <span class="xn-person">Mark Etnyre</span>, Chief Financial Officer. </p>

<p>(Logo:&#160; <a href="http://photos.prnewswire.com/prnh/20090219/LFLOGO" target="_blank">http://photos.prnewswire.com/prnh/20090219/LFLOGO</a>)</p>

<p>The webcast will be available at LeapFrog&#039;s investor relations website at <a href="http://www.leapfroginvestor.com/" target="_blank">www.leapfroginvestor.com</a> and is expected to last approximately 60 minutes.&#160; A replay of the webcast will be available approximately two hours after the conclusion of the presentation on LeapFrog&#039;s investor relations website.</p>

<p>Please note the presentation time is subject to change.</p>

<p><b>About LeapFrog</b></p>

<p>LeapFrog Enterprises, Inc. is an education innovator and a leading developer of educational entertainment for children. LeapFrog&#039;s award-winning product portfolio is designed to help every child achieve his or her potential by delivering best-in-class curriculum through engaging content, age-appropriate technology-based platforms, and toys. The Learning Path, LeapFrog&#039;s proprietary online destination for parents and extended family, provides personalized feedback on a child&#039;s learning progress and offers product recommendations to enhance each child&#039;s learning experience. Through the power of play, LeapFrog&#039;s products and curriculum help children of all ages prepare for school and life success. LeapFrog&#039;s products are available in more than 45 countries and have been used by teachers in more than 100,000 U.S. classrooms. LeapFrog is based in <span class="xn-location">Emeryville, California</span> and was founded in 1995 by a father who revolutionized technology-based learning solutions to help his child learn how to read. Come see the learning at <u><a href="http://www.leapfrog.com/" target="_blank">www.leapfrog.com</a></u>.</p>

<p>NOTE: LEAPFROG and the LeapFrog logo are trademarks or registered trademarks of LeapFrog Enterprises, Inc.</p>

<p/>
<div>
<table border="1" bordercolor="#000000" cellpadding="0" cellspacing="0" id="convertedTable" style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; BORDER-COLLAPSE: collapse; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt"><tr style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">
<td colspan="2" style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt"><b>Contact Information</b></span></p>
</td></tr>
<tr style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial">&#160;</span></p>
</td>
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial">&#160;</span></p>
</td></tr>
<tr style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt"><b>Investors: </b></span></p>
</td>
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt"><b>Media:</b></span></p>
</td></tr>
<tr style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial">&#160;</span></p>
</td>
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-SIZE: 8pt; FONT-FAMILY: Arial">&#160;</span></p>
</td></tr>
<tr style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt">Karen Sansot&#160;</span></p>
</td>
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt">Kathryn Green </span></p>
</td></tr>
<tr style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt">Investor Relations&#160;</span></p>
</td>
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt">Media Relations</span></p>
</td></tr>
<tr style="PADDING-BOTTOM: 0px; MARGIN: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px">
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt">(510) 420-4803&#160;</span></p>
</td>
<td style="BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt; PADDING-LEFT: 6pt; PADDING-RIGHT: 6pt; VERTICAL-ALIGN: bottom; BORDER-TOP: 1pt; BORDER-RIGHT: 1pt">
<p class="prnews_p" style="MARGIN: 0in"><span class="prnews_span" style="FONT-FAMILY: Arial; FONT-SIZE: 8pt">(510) 596-3405</span></p>
</td></tr></table></div>
<p>SOURCE  LeapFrog Enterprises, Inc.</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/leapfrog-to-webcast-investor-event-on-february-14-2012</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/leapfrog-to-webcast-investor-event-on-february-14-2012</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Roanoke College Poll: Consumer Sentiment and Price Expectations in Virginia</title>
                <description><![CDATA[<p/>
 
<p/>
 
 
<p><span class="xn-location">SALEM, Va.</span>, Feb.&#160;10, 2012 /PRNewswire/ --&#160;Virginians remain relatively optimistic about the future, finds a new survey by The <span class="xn-org">Roanoke College</span> Institute for Policy and Opinion Research<b> </b>(IPOR).&#160; IPOR surveyed 616 Virginians on their finances, general business conditions now and in the future, their inclination for purchasing durable goods, and their thoughts on prices. &#160;</p>

<p/>
<p>The Virginia Index of Current Conditions (VAICC) considers household financial situations compared to the past year and consumer willingness to purchase durable goods such as refrigerators and furniture. The Virginia Index of Consumer Expectations (VAICE) gauges household expectations of their finances and business conditions in the coming year. The Virginia Index of Consumer Sentiment (VAICS) is an aggregate measure of current conditions and future beliefs of <span class="xn-location">Virginia</span> households.&#160; </p>

<p>The February VAICC is 78, up 22 percent from November, compared to the preliminary national value of 79.6. The national number dropped more than expected from January to February, but is a slight increase from <span class="xn-chron">November 2011</span>. &#160;Twenty-eight percent of Virginians report being better off financially than a year ago, compared to only 23 percent for the nation as a whole.&#160; Additionally, 43 percent of Virginians feel that now is a good time to buy big ticket items, the majority citing the low prices and deals available.</p>

<p>The VAICE is 87, up 14 percent from November, suggesting that households are optimistic that their financial situation and business conditions will improve over the next year. Over a third of Virginians reported a belief that they would be better off financially a year from now. Comparably, the nation is less optimistic about the coming year. The national preliminary ICE is 68. </p>

<p>The VAICS is 83, an increase of 18 percent since November and considerably higher than the preliminary national value of 72.5. The national preliminary values are based on a sample of 250 to 300 consumers. The final national November values will be released <span class="xn-chron">February 24, 2012</span>. </p>

<p>Potential reasons for the greater optimism in <span class="xn-location">Virginia</span> versus the nation include a statewide unemployment rate that is 2 points lower than the national rate of 8.3 percent and per capita income that is more than 10 percent higher than the national average.</p>

<p>More information may be found on the <span class="xn-org">Roanoke College</span> website: <a href="http://bit.ly/AbuB4k" target="_blank">http://bit.ly/AbuB4k</a> </p>
<p>SOURCE  <span class="xn-org">Roanoke College</span></p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/roanoke-college-poll-consumer-sentiment-and-price-expectations-in-virginia</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/roanoke-college-poll-consumer-sentiment-and-price-expectations-in-virginia</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Exceed Announces Board Changes</title>
                <description><![CDATA[<p><span class="xn-location">FUJIAN, China</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire-Asia-FirstCall/ --&#160;Exceed Company Ltd. (NASDAQ: EDS) ("EDS", "Exceed" or the "Company"), the owner and operator of "Xidelong" brand &#8211; one of the leading domestic sportswear brands in <span class="xn-location">China</span>, today announced that the board of directors (the "Board") has appointed Dr. Yea-Mow Chen as an independent non-executive director, effective <span class="xn-chron">February 4, 2012</span>, while Mr. <span class="xn-person">William Sharp</span>, a member of the Board has resigned from his position as an independent non-executive director to pursue other interests.</p>

<p>Dr. Chen has served as the CEO of the China Intangible Asset Appraisal Corp. Ltd, <span class="xn-location">Taiwan</span> since 2005, offering valuation services for tangible assets, intangible assets and business firms for financial reporting, IPOs, mergers and acquisitions and other purposes&#160;in accordance with&#160;U.S. GAAP and SEC requirements. In 2006, he founded Intelliwise Financial Engineering Advisory Corp. Ltd.,&#160; a company that&#160;offers specialized services in developing suitable financial risk management strategies for corporate firms and financial institutions and applying financial engineering techniques (optional pricing models and others) for valuation for meeting the financial reporting requirements of International Financial Reporting Standards 2, 3, 7, 9, and 13.&#160; Since 2001, Dr. Chen has been offering investment and financial advisory services to corporate firms on issues related to cross-border listings in the U.S., <span class="xn-location">Hong Kong</span> and <span class="xn-location">Taiwan</span>, mergers and acquisitions, financial restructuring and PE fundraising, financial risk management, and corporate governance strategies.&#160;Dr. Chen has served as a director of the China Business and Intangible Asset Valuation Association since 2007 and an adviser to the Taiwan Securities Association since 2008.&#160;He is a regular speaker for the China Business and Intangible Asset Valuation Association and enlisted as a speaker for the China Corporate Governance Association. Dr. Chen received a Ph.D. in Economics from the <span class="xn-org">Ohio State University</span> and has been teaching in the Department of Finance at <span class="xn-org">San Francisco State University</span> in <span class="xn-location">California</span> since 1984.</p>

<p>"On behalf of the Board of Directors, I would like to thank Mr. Sharp for his dedication and contribution to Exceed&#039;s success.&#160;We wish him the best in his future endeavors," said Mr. Shuipan Lin, Exceed&#039;s founder, Chairman and CEO.&#160;"Furthermore, I am pleased to welcome Dr. Chen to the Board.&#160;Dr. Chen brings to Exceed a wealth of experience gained from his extensive services in senior level roles in both business and academia.&#160;His expertise in the areas of cross-border listings, corporate governance, financial reporting and risk management will be a valuable asset to the Company, and we look forward to working closely with him."</p>

<p><b><u>About</u></b><b><u> Exceed Company Ltd.</u></b></p>

<p>Exceed Company Ltd. designs, develops and engages in wholesale of footwear, apparel and accessories under its own brand, XIDELONG, in <span class="xn-location">China</span>. Since it began operations in 2002, Exceed has targeted its growth on the consumer markets in the second and third-tier cities in <span class="xn-location">China</span>. Exceed has three principal categories of products: (i) footwear, which comprises running, leisure, basketball, skateboarding and canvas footwear, (ii) apparel, which comprises sports tops, pants, jackets, track suits and coats, and (iii) accessories, which comprise bags, socks, hats and caps. Exceed Company Ltd. currently trades on NASDAQ under the symbol "EDS".</p>

<p><b>For further information, please contact:</b></p>

<p/>
<p><b>Investor Relations (<span class="xn-location">Hong Kong</span>)</b></p>

<p><b><span class="xn-person">Mahmoud Siddig</span><br/></b><span class="xn-person">Taylor Rafferty</span><br/>T: +852 3196 3712<br/>E: <a href="mailto:Exceed@Taylor-Rafferty.com" target="_blank">Exceed@Taylor-Rafferty.com</a> </p>

<p><b>Investor Relations (US)</b></p>

<p><b><span class="xn-person">Bryan Degnan</span><br/></b><span class="xn-person">Taylor Rafferty</span><br/>T: +1 (212) 889-4350<br/>E: <a href="mailto:Exceed@Taylor-Rafferty.com" target="_blank">Exceed@Taylor-Rafferty.com</a></p>
<p>SOURCE  Exceed Company Ltd.</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/exceed-announces-board-changes</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/exceed-announces-board-changes</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Kimberly-Clark to Webcast Presentation and Q&amp;A at Consumer Analyst Group of New York Conference</title>
                <description><![CDATA[<p/>
 
 
 
<p><span class="xn-location">DALLAS</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ --&#160;Kimberly-Clark Corporation (NYSE: KMB) will webcast its participation in the 2012 Consumer Analyst Group of <span class="xn-location">New York</span> (CAGNY) conference from <span class="xn-chron">4:15 p.m. to 5:15 p.m. ET</span> on <span class="xn-chron">Thursday, Feb. 23</span>. <span class="xn-person">Mark Buthman</span>, Senior Vice President and CFO, will give a presentation about the company&#039;s strategies for growing its global consumer, professional and health care businesses and will subsequently answer questions from conference attendees.</p>

<p>A link to the broadcast and related presentation slides will be provided through the Investors section of Kimberly-Clark&#039;s Web site at <a href="http://www.kimberly-clark.com/" target="_blank">www.kimberly-clark.com</a>.</p>

<p>Kimberly-Clark and its well-known global brands are an indispensable part of life for people in more than 175 countries. Every day, nearly a quarter of the world&#039;s population trust K-C brands and the solutions they provide to enhance their health, hygiene and well being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds the No. 1 or No. 2 share position in more than 80 countries. To keep up with the latest K-C news and to learn more about the company&#039;s 140-year history of innovation, visit <a href="http://www.kimberly-clark.com/" target="_blank">www.kimberly-clark.com</a>.</p>
<p>SOURCE  Kimberly-Clark Corporation</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/kimberly-clark-to-webcast-presentation-and-qa-at-consumer-analyst-group-of-new-york-conference</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/kimberly-clark-to-webcast-presentation-and-qa-at-consumer-analyst-group-of-new-york-conference</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Global Indemnity plc Announces Fourth Quarter 2011 Results Earnings Release Conference Call</title>
                <description><![CDATA[<p><span class="xn-location">DUBLIN, Ireland</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ -- <b>Global Indemnity plc (NASDAQ: GBLI), </b>&#8211; Global Indemnity plc (NASDAQ: GBLI) will hold a teleconference on <span class="xn-chron">February 14, 2012</span> at <span class="xn-chron">8:30 a.m. Eastern Time</span> to discuss its fourth quarter 2011 results.</p>
<p>(Logo: <a href="http://photos.prnewswire.com/prnh/20100803/LT45156LOGO">http://photos.prnewswire.com/prnh/20100803/LT45156LOGO</a> )</p>
<p>The Company will release its earnings after the close of business on <span class="xn-chron">February 13, 2012</span>.</p>
<p>To participate in the teleconference, please telephone (800) 230-1092 (U.S. and <span class="xn-location">Canada</span>) or (612) 288-0340 (International) and you will be greeted by an operator. &#160;Please reference Global Indemnity plc Earnings Release Call or the host <span class="xn-person">Cynthia Valko</span>. </p>
<p>The teleconference is being webcast by AT&amp;T and can be accessed at the company&#039;s website at <a href="http://www.globalindemnity.ie/">www.globalindemnity.ie</a>. &#160;Please access the site at least 15 minutes prior to the teleconference to register, download and install any necessary software. &#160;The webcast is also being distributed over AT&amp;T&#039;s Audio-Only Web ConferenceCast. &#160;To access the live or archived event, please use this URL: &#160;<a href="https://im.csgsystems.com/cgi-bin/confCast">https://im.csgsystems.com/cgi-bin/confCast</a>, Conference ID#: 236244 and click GO.</p>
<p>The teleconference will be available for replay beginning at <span class="xn-chron">10:30 a.m. Eastern Time</span> on <span class="xn-chron">February 14, 2012</span> until <span class="xn-chron">11:59 p.m.</span> <span class="xn-chron">March 14, 2012</span>. To listen to the replay, please telephone (800) 475-6701 (U.S. and <span class="xn-location">Canada</span>) or (320) 365-3844 (International) then enter 236244.</p>
<p><b>About Global Indemnity plc and its subsidiaries</b></p>
<p>Global Indemnity plc (NASDAQ:GBLI), through its several direct and indirect wholly owned subsidiary insurance and reinsurance companies, provides both admitted and non-admitted specialty property and casualty insurance coverages in <span class="xn-location">the United States</span>, as well as reinsurance throughout the world. &#160;Global Indemnity plc&#039;s two primary divisions are:</p>
<ul type="disc"><li><b>United States Based Insurance Operations</b></li></ul><br/><ul type="disc"><li><b>Bermuda Based Reinsurance Operations</b></li></ul><br/><p>For more information, visit the&#160;Global Indemnity plc website at <a href="http://www.globalindemnity.ie/">http://www.globalindemnity.ie</a>.</p>
<p><b><i>Forward-Looking Information</i></b></p>
<p><i>Forward-looking statements contained in this press release are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. &#160;We caution investors that our actual results may be materially different from the estimates expressed in, or implied, or projected by, the forward looking statements. &#160;Please see our periodic reports filed with the Securities and Exchange Commission for a discussion of the risks and uncertainties which may affect us and for a more detailed discussion of our cautionary note regarding forward-looking statements. &#160; &#160; </i></p>
<div style="margin-bottom:.0001in; margin-top:.0001in"><table cellpadding="1" cellspacing="0" style="border-collapse:collapse;border:none;"><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><col style="padding: 0pt 5.4pt 2pt 5.4pt;"/><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><b><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Contact:</span></b></p>
</td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><b><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Media</span></b></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Linda Hohn</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">Associate General Counsel</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">(610) 660-6862</span></p>
</td><td/></tr><tr><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><br/></td><td style="margin-top:0%;margin-bottom:0%;padding-top:0%;padding-bottom:0%;" valign="bottom"><p style=" margin:0in;"><a class="prnews_a" href="mailto:lhohn@uai-group.com"><span class="prnews_span" style="font-family:Arial;font-size:8pt;">lhohn@uai-group.com</span></a><span class="prnews_span" style="font-family:Arial;font-size:8pt;"> &#160;</span></p>
</td><td/></tr><tr><td/><td/></tr></table><br/><br/></div>
<p>SOURCE  Global Indemnity plc</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/global-indemnity-plc-announces-fourth-quarter-2011-results-earnings-release-conference-call</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/global-indemnity-plc-announces-fourth-quarter-2011-results-earnings-release-conference-call</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Initiative Campaign Responds to Exposure of Consumer Watchdog as Front Group - 2012 Automobile Insurance Discount Act</title>
                <description><![CDATA[<p><span class="xn-location">SACRAMENTO, Calif.</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ -- Steve Maviglio, former Press Secretary to Governor <span class="xn-person">Gray Davis</span>, the Deputy Chief of Staff to the Speaker of the State Assembly, and president of the Sacramento Food Co-op, unveiled his own website yesterday afternoon exposing the activities of Consumer Watchdog. Maviglio is a longtime foe of the trial attorneys, who have long hid behind, owned, operated and prospered under the Consumer Watchdog banner.</p>

<p>For many years, Maviglio has been a critic of Consumer Watchdog. As <span class="xn-person">Casey Stengel</span> said, "you can look it up." </p>

<p>The principals of Consumer Watchdog, who have long engaged in particularly divisive and nasty politics that involves ugly behavior and personal attacks, took umbrage.&#160; Remember, these are the same folks who disrespected the lawmaking process enough to appear at a legislative committee hearing dressed in a chicken outfit to mock their opposition. These are the same folks who carved-out ten seconds of a five hour hearing called by the Insurance Commissioner, then claimed it was one of the best they&#039;d ever attended, just to manufacture their own controversy. They wanted the Chair of the committee dismissed because he wanted a section of a bill that allows the principals of Consumer Watchdog to personally profit, removed from the legislation. </p>

<p>Incredibly, the response to the new website was not directed at Maviglio, but targeted <span class="xn-person">George Joseph</span>, founder of Mercury Insurance Group, and a campaign by the American Agents Alliance to provide consumers a discount on car insurance in <span class="xn-location">California</span>. This is the same discount that is allowed in 48 other states and will insure more Californians at a better price. Read the initiative and see for yourself (<a href="http://www.2012autoinsurancediscountact.com/2012-aida-language/">http://www.2012autoinsurancediscountact.com/2012-aida-language/</a>).</p>

<p>The attacks on Joseph were bitter and unfounded.&#160; The attacks on our campaign were equally unfounded.</p>

<p>As far as we know, the website is the sole creation of Steve Maviglio.&#160; Neither the campaign nor <span class="xn-person">George Joseph</span> contributed a word of content or a single penny to the website.&#160; </p>

<p>Those defending Consumer Watchdog said that when you take on powerful corporate interests, you make enemies.&#160; </p>

<p>In this instance, it becomes more evident that when you dance belligerently in a chicken outfit, you also make enemies. Although it is not our product, we suggest that folks read what Maviglio has to say &#8211; it is obviously more realistic and truthful than what the consumer groups are saying about others. </p>
<p>SOURCE  2012 Automobile Insurance Discount Act</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/initiative-campaign-responds-to-exposure-of-consumer-watchdog-as-front-group---2012-automobile-insur</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/initiative-campaign-responds-to-exposure-of-consumer-watchdog-as-front-group---2012-automobile-insur</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Angie&#039;s List: The 7 Jobs You Shouldn&#039;t Ignore</title>
                <description><![CDATA[<p/>
 
<p/>
<p/>
 
 
<p><span class="xn-location">INDIANAPOLIS</span>, Feb.10, 2012 /PRNewswire/ -- Angie&#039;s List, which collects <a href="http://www.angieslist.com/" target="_blank">consumer reviews</a> on local service companies, surveyed contractors across the country to determine what the common home aches and pains are, and how to remedy them before you have to seek emergency care.</p>

<p>(Logo:&#160; <a href="http://photos.prnewswire.com/prnh/20120113/CG35583LOGO" target="_blank">http://photos.prnewswire.com/prnh/20120113/CG35583LOGO</a>)</p>

<p>"Paying attention to the basics of home care is a lot like brushing your teeth or exercising and eating well, says <span class="xn-person">Angie Hicks</span>, founder of Angie&#039;s List.&#160; "Taking care of the basics will save you stress, time and money. Neglecting them won&#039;t just cost you more down the road, it could actually put your family in danger."</p>

<p><b>Angie&#039;s 7 Signs Your House Needs Professional Care</b></p>

<ol type="1">
<li><b>Up on the Roof:</b> A small issue with your roof doesn&#039;t mean you need to replace the whole thing. But letting the little things go only means you&#039;re in for big bills later. If you notice loose shingles, have attic leaks, suspect chimney issues or see other signs of damage up high, call in a reputable <a href="http://www.angieslist.com/roofing/" target="_blank">roofing,</a> gutter or chimney expert, or a handyman to give you great advice about what you need done. </li>
<li><b>Leaks don&#039;t fix themselves:</b> Leaky faucets, running toilets and other small <a href="http://www.angieslist.com/plumbing/" target="_blank">plumbing</a> issues will just get worse, so do yourself a favor and get those fixed before major damage occurs. If you notice a jump in your water bill but haven&#039;t increased your usage, you likely have a hidden leak, which left undetected could lead to mold, wood rot and severe water damage. Don&#039;t work with anyone who isn&#039;t happy to show you his or her plumbing license. </li>
<li><b>Caulk it up:</b> The caulking around your tub and shower prevents moisture penetration, which can lead to mold, tile and wall damage and warped cabinetry. Keeping everything watertight will save you a bundle, so be sure to repair any caulking failures. But don&#039;t stop there. All homes get cracks and voids in their outside walls over time. Look closely at where two boards come together, because cracks often start there. Also look for damage from animals that are looking for a way in. Caulk any cracks you see to avoid water penetration, subsequent wood rot and to keep the critters out. </li>
<li><b>Sparks</b><b> fly:</b> Lights that dim on their own schedule aren&#039;t just annoying: they&#039;re a clear signal that you have an <a href="http://www.angieslist.com/electrical/" target="_blank">electrical</a> problem. Experts say too many homeowners tolerate this situation for too long, which puts their homes at risk for electrical fire. Another often tolerated-too-long issue is when using one device causes another to switch off because you&#039;ve blown a fuse. This is a sign you have a capacity or circuit box issue. Less dangerous but still signal-worthy are springy outlets that don&#039;t hold plugs. If you have any of these issues, call in a licensed, reputable electrician. </li>
<li><b>Drafty doors and windows:</b> Improperly sealed windows and doors will bring cold air inside during the winter and let cooled air out in the summer, costing you big bucks on your energy bill. An energy audit can tell you where your leaks are and how to seal them. </li>
<li><b>Filter it out:</b> HVAC experts say 60 percent of their service calls result from systems stressed by dirty air filters. Changing air filters regularly (every quarter or so; more if you have pets) can save you up to <span class="xn-money">$100</span> each year on your energy bill, and will keep you from needing emergency repair. Many highly reputable <a href="http://www.angieslist.com/hvac/" target="_blank">heating and air conditioning</a> companies offer maintenance plans that include an annual inspection. Doing this will give you an early alert to any issues you have with your entire HVAC system so you can stave off breakdowns. </li>
<li><b>Pump it up:</b> Take a look at your sump pump from time to time. If it&#039;s in good shape and its batteries are good, it could save you thousands of dollars in flood damage. But you don&#039;t want to find out it needs repairs after the water starts rising. Get an annual inspection and check the batteries at least quarterly. </li></ol>
<p><i>Angie&#039;s List collects </i><i><a href="http://www.angieslist.com/" target="_blank">consumer reviews</a> </i><i>and helps connect consumers with the best local service providers in areas from home improvement to health care. More than 1 million households across the U.S. and <span class="xn-location">Canada</span> subscribe to and rely on Angie&#039;s List to help them make the best hiring decisions in more than 550 service categories. Members get unlimited access to local ratings via Internet or phone, exclusive discounts, the <a href="http://www.angieslist.com/articles/" target="_blank">Angie&#039;s List Magazine</a> and help from the Angie&#039;s List complaint resolution service. For the latest consumer news, visit the Angie&#039;s List <a href="http://press.angieslist.com/news.aspx" target="_blank">news</a> center.</i></p>

<p>CONTACT:&#160; <span class="xn-person">Cheryl Reed</span> of Angie&#039;s List, +1-317-396-9134, <a href="mailto:cherylr@angieslist.com">cherylr@angieslist.com</a> </p>
<p>SOURCE  Angie&#039;s List</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/angies-list-the-7-jobs-you-shouldnt-ignore</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/angies-list-the-7-jobs-you-shouldnt-ignore</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:32 +0530</pubDate>
            </item>
    
            <item>
                <title>Essar Steel Algoma Reports Positive EBITDA for the Three Month Period Ending December 31, 2011</title>
                <description><![CDATA[<p>
<span class="xn-location">SAULT STE. MARIE, ON</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ - Essar Steel Algoma reported
 positive EBITDA of <span class="xn-money">$30.2 million</span> and a net loss of <span class="xn-money">$50.8 million</span> for
 the three month period ending <span class="xn-chron">December 31, 2011</span> on shipments of 635,308
 tons.&#160; EBITDA is a meaningful indicator of the Company&#039;s profitability.
</p>
<p align="justify">
The results for the three month period reflect the impact of higher
 selling prices for the Company&#039;s products and lower costs compared to
 the three month period ending <span class="xn-chron">December 31, 2010.</span>&#160; Compared to the
 similar period of the prior year, shipments were up 0.9%, and cost per
 ton of steel products sold was reduced by 0.9%.&#160; Steel revenue was
 <span class="xn-money">$490.5 million</span> for the period, primarily due to improved pricing.
</p>
<p align="justify">
Chief Executive Officer, <span class="xn-person">Jim Hrusovsky</span> commented on the results, "We
 have earned positive EBITDA in each of the last four quarters and
 continue to see an improvement in operating reliability.&#160; I am pleased
 to recognize the safe and highly successful installation of an
 Individualized Oven Pressure Control System on our # 9 coke battery.
 This <span class="xn-money">$20 million</span> investment in leading edge technology is estimated to
 reduce emissions from the battery by more than 70%."
</p>
<p>
Essar Steel Algoma Inc. is based in <span class="xn-location">Sault Ste. Marie, Ontario</span>.&#160; Revenues
 are derived primarily from the manufacture and sale of rolled steel
 products, including hot and cold rolled sheet and plate.
</p>

<p>SOURCE  Essar Steel Algoma Inc.</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/essar-steel-algoma-reports-positive-ebitda-for-the-three-month-period-ending-december-31-2011</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/essar-steel-algoma-reports-positive-ebitda-for-the-three-month-period-ending-december-31-2011</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:31 +0530</pubDate>
            </item>
    
            <item>
                <title><![CDATA[Whole Foods Market&reg; Promotes David Lannon and Ken Meyer to Executive Vice-Presidents of Operations]]></title>
                <description><![CDATA[<p/>
 
 
 
 
<p><span class="xn-location">AUSTIN, Texas</span>, <span class="xn-chron">Feb. 10, 2012</span> /PRNewswire/ --&#160;Whole Foods Market (NASDAQ: WFM), the world&#039;s leading organic and natural foods supermarket, announced today that two Regional Presidents, <span class="xn-person">David Lannon</span> and <span class="xn-person">Ken Meyer</span>, have been promoted to Executive Vice-Presidents of Operations, joining the executive leadership team. &#160;The company&#039;s 12 Regional Presidents will report to them. </p>

<p>Lannon, age 46, brings 25 years of company experience to the position, working most recently since 2007 as Regional President of the <span class="xn-location">Northern California</span> region where he led 36 stores. He previously was Regional President of the North Atlantic region, Regional Vice-President of the Northeast region, Store Team Leader of the <span class="xn-location">Palo Alto</span> and <span class="xn-location">San Francisco</span> stores, and Produce Team Leader in <span class="xn-location">Mill Valley</span>. Early in his career, he worked for five years at Bread &amp; Circus and continued on after it was acquired by Whole Foods Market in 1992.&#160;Lannon will continue to help lead the company&#039;s Healthy Eating and Wellness Club team.</p>

<p>Meyer, age 43, has been with Whole Foods Market for 17 years, most recently as Regional President for the Mid-Atlantic region since 2005 where he oversaw 39 stores. He has also served as Regional President of the South region, Regional Vice-President of the Southwest region and Store Team Leader of the <span class="xn-location">Georgetown</span> store.&#160;He began his natural foods career working in labor scheduling and planning with Fresh Fields, which was acquired by Whole Foods Market in 1996. Meyer will continue to be a member of the Board of Directors of Whole Kids Foundation and of Whole Planet Foundation in his new role. </p>

<p>"Ken and David are top flight, proven leaders who bring fresh operating experience at a time when we are stepping up our growth," said <span class="xn-person">Walter Robb</span>, co-CEO of Whole Foods Market. "They are young but seasoned, bringing their valuable perspective to the table immediately while contributing well into the future."</p>

<p>Co-founder and Co-CEO <span class="xn-person">John Mackey</span> of Whole Foods Market added, "We are thrilled with our decision to round out the executive team with two extremely capable and passionate leaders. David and Ken exemplify our company&#039;s core values and really drive home our mission every day. We welcome them with open arms."</p>

<p>In these newly created positions, Lannon and Meyer join <span class="xn-person">John Mackey</span>, <span class="xn-person">Walter Robb</span>, <span class="xn-person">Glenda Flanagan</span>, <span class="xn-person">A.C. Gallo</span> and <span class="xn-person">Jim Sud</span>, expanding the executive team to seven leaders.&#160; They will begin transitioning into their new roles over the next month. Lannon will reside in <span class="xn-location">Northern California</span> and Meyer in the <span class="xn-location">Washington, D.C.</span> area. Both will frequent the company&#039;s headquarters in <span class="xn-location">Austin</span>.</p>

<p><b>About Whole Foods Market&#174;<sup> </sup></b></p>

<p>Founded in 1980 in <span class="xn-location">Austin, Texas</span>, Whole Foods Market (<a href="http://www.wholefoodsmarket.com/" target="_blank">wholefoodsmarket.com</a>, NASDAQ: WFM), is the leading natural and organic food retailer. As America&#039;s first national certified organic grocer, Whole Foods Market was named "America&#039;s Healthiest Grocery Store" by <i>Health</i> magazine. The company&#039;s motto, "Whole Foods, Whole People, Whole Planet"&#8482; captures its mission to ensure customer satisfaction and health, Team Member excellence and happiness, enhanced shareholder value, community support and environmental improvement. Thanks to the company&#039;s&#160;more than 65,000 Team Members, Whole Foods Market has been ranked as one of the "100 Best Companies to Work For" in America by <i>FORTUNE</i> magazine for 15 consecutive years. In fiscal year 2011, the company had sales of more than <span class="xn-money">$10 billion</span> and currently has 317 stores in <span class="xn-location">the United States</span>, <span class="xn-location">Canada</span> and the <span class="xn-location">United Kingdom</span>.</p>

<p>Contact:<br/><span class="xn-person">Kate Lowery</span><br/>1-512-542-0390<br/><a href="mailto:kate.lowery@wholefoods.com">kate.lowery@wholefoods.com</a> </p>

 
 
<p>&#160;</p>
<p>SOURCE  Whole Foods Market</p>]]></description>
                <link>http://www.africanbusinessreview.co.za/press_releases/whole-foods-market-promotes-david-lannon-and-ken-meyer-to-executive-vice-presidents-of-operations</link>
                <guid>http://www.africanbusinessreview.co.za/press_releases/whole-foods-market-promotes-david-lannon-and-ken-meyer-to-executive-vice-presidents-of-operations</guid>
        
        
                <pubDate>Sat, 11 Feb 2012 03:58:31 +0530</pubDate>
            </item>
    
        </channel>
    </rss>
