|                                                                                                                                                          |   | June 30, 2010 |       |   | June 30, 2009 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------|------------|--------|-------------------------|--------|
| Assets                                                                                                                                                        |   |                    |       |   |                    |   |
| Current assets:                                                                                                                                               |   |                    |       |   |                    |   |
| Due from intercompany                                                                                                                                         |   |                    | 107,234    |   |                    |   | 500,000 |   |
| Total current assets                                                                                                                                          |   |                    | 107,234    |   |                    |   | 500,000 |   |
|                                                                                                                                                          |   |                    |       |   |                    |   |   |   |
| Investment in contractual consolidated subsidiaries                                                                                                           |   |                    | 39,447,981 |   |                    |   | 34,288,227 |   |
|                                                                                                                                                          |   |                    |       |   |                    |   |   |   |
| Total assets                                                                                                                                                  |   | $                       | 39,555,215 |   |                    | $      | 34,788,227 |   |
|                                                                                                                                                          |   |                    |       |   |                    |   |   |   |
| Liabilities and stockholders' equity                                                                                                                          |   |                    |       |   |                    |   |   |   |
| Current liabilities:                                                                                                                                          |   |                    |       |   |                    |   |   |   |
| Accrued expenses                                                                                                                                              |   | $                       | 100,000    |   |                    | $      | 114,671 |   |
| Loans from unrelated party                                                                                                                                    |   |                    | 370,000    |   |                    |   | - |   |
| Convertible notes payable                                                                                                                                     |   |                    | -          |   |                    |   | 500,000 |   |
| Other current liabilities                                                                                                                                     |   |                    | 59,573     |   |                    |   | - |   |
| Total current liabilities                                                                                                                                     |   |                    | 529,573    |   |                    |   | 614,671 |   |
|                                                                                                                                                          |   |                    |       |   |                    |   |   |   |
| Stockholders’ equity:                                                                                                                                   |   |                    |       |   |                    |   |   |   |
| Preferred stock, $0.001 par value, 10,000,000 shares authorized, no shares issued or outstanding                                                              |   |                    | -          |   |                    |   | - |   |
| Common stock, $0.001 par value, 200,000,000 shares authorized, 29,715,666 and 29,488,341 shares issued and outstanding at Jun 30, 2010 and 2009, respectively |   |                    | 29,716     |   |                    |   | 29,488 |   |
| Additional paid-in capital                                                                                                                                    |   |                    | 21,838,047 |   |                    |   | 21,708,275 |   |
| Retained earnings                                                                                                                                             |   |                    | 14,991,346 |   |                    |   | 10,479,170 |   |
| Accumulated other comprehensive income                                                                                                                        |   |                    | 2,166,533  |   |                    |   | 1,956,623 |   |
| Total stockholders’ equity                                                                                                                              |   |                    | 39,025,642 |   |                    |   | 34,173,556 |   |
| `                                                                                                                                                             |   |                    |       |   |                    |   |   |   |
| Total liabilities and stockholders' equity                                                                                                                    |   | $                       | 39,555,215 |   |                    | $      | 34,788,227 |   |

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|                                     |   | For the Years Ended June 30, |      |
|------------------------------------------|--------|-------------------------------------------------------|-----------|
|                                     |   | 2010                                                  |      |   | 2009 |   |
|                                     |   |                                                  |      |   |   |   |
| Sales                                    |   | $                                                     | -         |   |   | $ | - |   |
|                                     |   |                                                  |      |   |   |   |   |   |
| Cost of sales                            |   |                                                  | -         |   |   |   | - |   |
|                                     |   |                                                  |      |   |   |   |   |   |
| Gross profit                             |   |                                                  | -         |   |   |   | - |   |
|                                     |   |                                                  |      |   |   |   |   |   |
| Operating expenses                       |   |                                                  |      |   |   |   |   |   |
| General and administrative expenses      |   |                                                  | 307,668   |   |   |   | 538,192 |   |
| Total operating expenses                 |   |                                                  | 307,668   |   |   |   | 538,192 |   |
|                                     |   |                                                  |      |   |   |   |   |   |
| Income before provision for income taxes |   |                                                  | (307,668  | ) |   |   | (538,192 | ) |
|                                     |   |                                                  |      |   |   |   |   |   |
| Provision for income taxes               |   |                                                  | -         |   |   |   | - |   |
|                                     |   |                                                  |      |   |   |   |   |   |
| Equity in income of subsidiaries         |   |                                                  | 4,512,176 |   |   |   | 2,259,413 |   |
|                                     |   |                                                  |      |   |   |   |   |   |
| Net income                               |   | $                                                     | 4,204,508 |   |   | $ | 1,721,221 |   |

----

|                                                                                        |   | For the Year Ended |       |
|---------------------------------------------------------------------------------------------|--------|-----------------------------------|------------|
|                                                                                        |   | June 30, 2010           |       |
| Cash flows from operating activities:                                                       |   |                              |       |
| Net Income                                                                                  |   | $                                 | 4,204,508  |   |
| Adjustments to reconcile net income to net cash Provided by (used in) operating activities: |   |                              | -          |   |
| Equity in income of subsidiaries                                                            |   |                              | (4,512,176 | ) |
| Changes in current assets and current liabilities:                                          |   |                              |       |   |
| Due from intercompany                                                                       |   |                              | 392,766    |   |
| Other current assets                                                                        |   |                              | -          |   |
| Accrued expenses                                                                            |   |                              | (14,671    | ) |
| Other current liabilities                                                                   |   |                              | 59,573     |   |
| Total adjustments                                                                           |   |                              | (4,074,508 | ) |
| Net cash provided by operating activities                                                   |   |                              | 130,000    |   |
|                                                                                        |   |                              |       |   |
| Cash flows from investing activities:                                                       |   |                              |       |   |
| Investment in contractual consolidated subsidiaries                                         |   |                              | (439,071   | ) |
| Net cash used in investing activities                                                       |   |                              | (439,071   | ) |
|                                                                                        |   |                              |       |   |
| Cash flows from financing activities:                                                       |   |                              |       |   |
| Convertible notes payable                                                                   |   |                              | (500,000   | ) |
| Loans from unrelated parties                                                                |   |                              | 370,000    |   |
| net proceeds from issurance of common stock                                                 |   |                              | 228        |   |
| Additional paid-in capital                                                                  |   |                              | 129,772    |   |
| Net cash used in financing activities                                                       |   |                              | -          |   |
|                                                                                        |   |                              |       |   |
| Effect of foreign currency translation on cash                                              |   |                              | 309,071    |   |
|                                                                                        |   |                              |       |   |
| Net increase in cash and cash equivalents                                                   |   |                              | -          |   |
|                                                                                        |   |                              |       |   |
| Cash and cash equivalents at beginning of year                                              |   |                              | -          |   |
|                                                                                        |   |                              |       |   |
| Cash and cash equivalents at end of year                                                    |   | $                                 | -          |   |

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