| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|-----------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT |
|--------|-----------------------------------------------------------------|

| Nevada                                                        |   | 90-0296536                           |
|---------------------------------------------------------------|--------|--------------------------------------|
| (State or other jurisdiction of incorporation ororganization) |   | (I.R.S. Employer Identification No.) |

| 9F, Building A, Rongchao Marina Bay CenterNO. 2021 Haixiu Road, Bao’an District, ShenzhenPeople’s Republic of China |   | 518133     |
|---------------------------------------------------------------------------------------------------------------------------------|--------|------------|
| (Address of principal executive offices)                                                                                        |   | (Zip Code) |

|                                                                                                                                                                                    |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (Former name, former address and former fiscal year, if changed since last report)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

| Large accelerated filer |  ̈ | Accelerated filer        |  ̈ |
|-------------------------|--------|--------------------------|--------|
|                    |   |                     |   |
| Non-accelerated filer   |  ̈ | Smaller reportingcompany | x      |

----

|   | · | Reclassified cash restricted by local travel bureau from cash and cash equivalent to restricted cash; |
|--------|--------|-------------------------------------------------------------------------------------------------------|

|   | · | Restated goodwill, intangible assets, deferred tax liabilities, and retained earnings due to an inconsistency between the acquisition dates of five new subsidiaries per the Company's 8-K filings and the reported periods of profit and loss statements included in the consolidated financial statements of the Company; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reclassified business tax and levies from selling expenses and COGS to revenues; |
|--------|--------|----------------------------------------------------------------------------------|

|   | · | Reclassified commission paid to retail air ticketing agencies from selling expenses to COGS; |
|--------|--------|----------------------------------------------------------------------------------------------|

|   | · | Restated overstated net income $857,027, revenues $10,579,717, and expenses for the six months ended June 30, 2010 and net income $313,620, revenues $4,875,489, and expenses for the three months ended June 30, 2010 due to an inconsistency between the acquisition dates of five new subsidiaries per the Company's 8-K filings and the reported periods of profit and loss statements included in the consolidated financial statements of the Company; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Restated overstated retained earnings $857,027 due to an inconsistency between the acquisition dates of five new subsidiaries per the Company's 8-K filings and the reported periods of profit and loss statements included in the consolidated financial statements of the Company; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Restated the corresponding line items on the consolidated statements of cash flows as a result of above reclassifications and restatement; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Restated the corresponding line items on the segment information as a result of above reclassifications and restatement; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------|

|   | · | Reclassified the revenue and cost of services of hotel reservation business in Huangshan Holiday Travel Service Co., Ltd. from packaged tours segment to hotel reservation segment; and |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reclassified the revenue and cost of services of packaged tours business in Chongqing Travel World E-Business Co., Ltd. from air ticketing segment to packaged tours segment. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|     |                                                                                                         |   | Page   |
|----------|--------------------------------------------------------------------------------------------------------------|--------|--------|
|     |                                                                                                         |   |   |
| PART I.  | Financial Information                                                                                        |   |   |
|     |                                                                                                         |   |   |
|     | Item 1.  Financial Statements (Unaudited)                                                          |   |   |
|     |                                                                                                         |   |   |
|     | Report of  Independent Registered Public Accounting Firm                                           |   |   |
|     |                                                                                                         |   |   |
|     | Consolidated Balance Sheets as of  June 30, 2010 (Unaudited) and December 31, 2009                 |   | 1      |
|     |                                                                                                         |   |   |
|     | Consolidated Statements of Income for the Three and Six Months Ended June 30, 2010 and 2009 (Unaudited)      |   | 2      |
|     |                                                                                                         |   |   |
|     | Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2010 and 2009 (Unaudited)            |   | 5      |
|     |                                                                                                         |   |   |
|     | Consolidated Statements of Stockholders' Equity                                                              |   | 4      |
|     |                                                                                                         |   |   |
|     | Notes to Consolidated Financial Statements as of  June 30, 2010 (Unaudited)                        |   | 6      |
|     |                                                                                                         |   |   |
|     | Item 2.  Management’s Discussion and Analysis of Financial Condition or Results of Operation |   | 35     |
|     |                                                                                                         |   |   |
|     | Item 3.  Quantitative and Qualitative Disclosures About Market Risk.                               |   | 46     |
|     |                                                                                                         |   |   |
|     | Item 4.  Controls and Procedures                                                                   |   | 46     |
|     |                                                                                                         |   |   |
| PART II. | Other Information                                                                                            |   |   |
|     |                                                                                                         |   |   |
|     | Item 1.  Legal Proceedings                                                                         |   | 46     |
|     |                                                                                                         |   |   |
|     | Item 1A. Risk Factors.                                                                                       |   | 46     |
|     |                                                                                                         |   |   |
|     | Item 2.  Unregistered Sales of Equity Securities and Use of Proceeds                               |   | 47     |
|     |                                                                                                         |   |   |
|     | Item 3.  Defaults Upon Senior Securities                                                           |   | 47     |
|     |                                                                                                         |   |   |
|     | Item 4.  (Removed and Reserved).                                                                   |   | 47     |
|     |                                                                                                         |   |   |
|     | Item 5.  Other Information                                                                         |   | 47     |
|     |                                                                                                         |   |   |
|     | Item 6.  Exhibits                                                                                  |   | 47     |

----

----

| 517 Route one             | 1 Penn Plaza       |
|---------------------------|--------------------|
| Iselin, New Jersey, 08830 | 36the Floor        |
| 732.855.9600              | New York, NY 10119 |

----

| Consolidated Balance Sheets                                          |   | 1      |
|----------------------------------------------------------------------|--------|--------|
|                                                                 |   |   |
| Unaudited Consolidated Statements of Income and Comprehensive Income |   | 2-3    |
|                                                                 |   |   |
| Unaudited Consolidated Statements of Cash Flows                      |   | 5      |
|                                                                 |   |   |
| Unaudited Consolidated Statements of Stockholders’ Equity      |   | 4      |
|                                                                 |   |   |
| Notes to Unaudited Consolidated Financial Statements                 |   | 6-34   |

----

|                                                                                                                                                                          |   | 6/30/2010 |        |   | 12/31/2009 |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------|-------------|--------|------------|--------|
|                                                                                                                                                                          |   | Restated  |        |   |       |   |
| ASSETS                                                                                                                                                                        |   |      |        |   |       |   |
| Cash and cash equivalents                                                                                                                                                     |   | $         | 43,488,236  |   |       | $      | 36,574,741 |   |
| Restricted Cash                                                                                                                                                               |   |      | 103,223     |   |       |   | 102,681 |   |
| Accounts receivable, net                                                                                                                                                      |   |      | 19,555,644  |   |       |   | 17,321,174 |   |
| Other receivables and deposits, net                                                                                                                                           |   |      | 2,127,552   |   |       |   | 257,907 |   |
| Due from related party                                                                                                                                                        |   |      | 6,986,717   |   |       |   | - |   |
| Trade deposit                                                                                                                                                                 |   |      | 7,706,484   |   |       |   | 9,775,735 |   |
| Advances                                                                                                                                                                      |   |      | -           |   |       |   | 440,063 |   |
| Prepayments                                                                                                                                                                   |   |      | 2,389,960   |   |       |   | 216,727 |   |
| Note receivable                                                                                                                                                               |   |      | 227,182     |   |       |   | 1,711,392 |   |
| Acquisition Deposits                                                                                                                                                          |   |      | 3,599,530   |   |       |   | 4,077,921 |   |
| Total Current Assets                                                                                                                                                          |   |      | 86,184,528  |   |       |   | 70,478,341 |   |
|                                                                                                                                                                          |   |      |        |   |       |   |   |   |
| Property, plant & equipment, net                                                                                                                                          |   |      | 6,487,219   |   |       |   | 4,992,677 |   |
| Intangible assets                                                                                                                                                             |   |      | 3,482,297   |   |       |   | 339,240 |   |
| Goodwill                                                                                                                                                                      |   |      | 24,508,909  |   |       |   | 9,896,270 |   |
| Total Noncurrent Assets                                                                                                                                                  |   |      | 34,478,425  |   |       |   | 15,228,187 |   |
| Total Assets                                                                                                                                                                  |   | $         | 120,662,953 |   |       | $      | 85,706,528 |   |
|                                                                                                                                                                          |   |      |        |   |       |   |   |   |
|  LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                    |   |      |        |   |       |   |   |   |
| Current Liabilities                                                                                                                                                           |   |      |        |   |       |   |   |   |
| Accounts payable and accrued expenses                                                                                                                                         |   | $         | 6,507,357   |   |       | $      | 2,615,730 |   |
| Customer deposits                                                                                                                                                             |   |      | 1,334,192   |   |       |   | 2,000,117 |   |
| Income tax payable                                                                                                                                                            |   |      | 2,063,161   |   |       |   | 1,654,475 |   |
| Total Current Liabilities                                                                                                                                                     |   |      | 9,904,710   |   |       |   | 6,270,322 |   |
| Derivative liability                                                                                                                                                          |   |      | 866,314     |   |       |   | 1,815,319 |   |
| Deferred tax liabilities                                                                                                                                                      |   |      | 809,094     |   |       |   | - |   |
| Total  Liabilities                                                                                                                                                  |   |      | 11,580,118  |   |       |   | 8,085,641 |   |
|                                                                                                                                                                          |   |      |        |   |       |   |   |   |
| Stockholders' Equity                                                                                                                                                          |   |      |        |   |       |   |   |   |
| Common stock, $.001 par value, 70,000,000 shares authorized, 19,898,235 and 16,714,457 issued and outstanding at June 30, 2010 and December 31,  2009, respectively |   |      | 19,898      |   |       |   | 16,714 |   |
| Additional paid in capital                                                                                                                                                    |   |      | 59,947,337  |   |       |   | 37,671,645 |   |
| Statutory reserve                                                                                                                                                             |   |      | 732,282     |   |       |   | 372,144 |   |
| Retained earnings                                                                                                                                                             |   |      | 47,192,264  |   |       |   | 37,915,251 |   |
| Accumulated other comprehensive income                                                                                                                                        |   |      | 1,191,054   |   |       |   | 1,645,133 |   |
| Total Stockholders' Equity                                                                                                                                                    |   |      | 109,082,835 |   |       |   | 77,620,887 |   |
| Total Liabilities and Stockholders' Equity                                                                                                                                    |   | $         | 120,662,953 |   |       | $      | 85,706,528 |   |

----

|                                                           |   | 2010     |       |   | 2009   |   |
|----------------------------------------------------------------|--------|----------|------------|--------|--------|--------|
|                                                           |   | Restated |       |   |   |   |
| Gross revenues,                                                |   | $        | 31,866,123 |   |   | $      | 18,232,926 |   |
| Cost of services                                               |   |     | 23,135,302 |   |   |   | 12,342,782 |   |
| Gross profit                                                   |   |     | 8,730,821  |   |   |   | 5,890,144 |   |
|                                                           |   |     |       |   |   |   |   |   |
| Selling, general and administrative expenses                   |   |     | 2,077,197  |   |   |   | 925,369 |   |
| Income from operations                                         |   |     | 6,653,624  |   |   |   | 4,964,775 |   |
|                                                           |   |     |       |   |   |   |   |   |
| Other income (expense)                                         |   |     |       |   |   |   |   |   |
| Other income                                                   |   |     | 3,363      |   |   |   | 2,591 |   |
| Gain/(Loss) on change in fair value of derivative liabilities  |   |     | 839,553    |   |   |   | (5,819,481 | ) |
| Interest income                                                |   |     | 16,522     |   |   |   | 12,358 |   |
| Total other income (expense)                                   |   |     | 859,438    |   |   |   | (5,804,532 | ) |
| Income/(Loss) before income taxes –continuing operations |   |     | 7,513,062  |   |   |   | (839,757 | ) |
|                                                           |   |     |       |   |   |   |   |   |
| Provision for income taxes                                     |   |     | 1,782,484  |   |   |   | 1,020,955 |   |
| Income(Loss) from continuing operations                        |   |     | 5,730,578  |   |   |   | (1,860,712 | ) |
|                                                           |   |     |       |   |   |   |   |   |
| Income/(loss) from discontinued operations                     |   |     | -          |   |   |   | 46,282 |   |
| Loss on disposition of discontinued operations                 |   |     | -          |   |   |   | (770,595 | ) |
| Net income/(loss) from discontinued operation                  |   |     | -          |   |   |   | (724,313 | ) |
|                                                           |   |     |       |   |   |   |   |   |
| Net income/(loss)                                              |   | $        | 5,730,578  |   |   | $      | (2,585,025 | ) |
|                                                           |   |     |       |   |   |   |   |   |
| Comprehensive income/(loss)                                    |   |     |       |   |   |   |   |   |
| Net income/(loss)                                              |   | $        | 5,730,578  |   |   | $      | (2,585,025 | ) |
| Foreign currency translation adjustments                       |   |     | 49,825     |   |   |   | 13,880 |   |
| Total comprehensive income/(loss)                              |   | $        | 5,780,403  |   |   | $      | (2,571,145 | ) |
|                                                           |   |     |       |   |   |   |   |   |
| Income (Loss) per common share from continuing operations      |   |     |       |   |   |   |   |   |
| Basic                                                          |   | $        | 0.33       |   |   | $      | (0.14 | ) |
| Diluted                                                        |   | $        | 0.31       |   |   | $      | (0.13 | ) |
| Net loss per common share – discontinued operations      |   |     |       |   |   |   |   |   |
| Basic                                                          |   | $        | -          |   |   | $      | (0.05 | ) |
| Diluted                                                        |   | $        | -          |   |   | $      | (0.05 | ) |
| Total net income (loss) per common share                       |   |     |       |   |   |   |   |   |
| Basic                                                          |   | $        | 0.35       |   |   | $      | (0.19 | ) |
| Dilute                                                         |   | $        | 0.31       |   |   | $      | (0.18 | ) |
| Weighted average common shares outstanding                     |   |     |       |   |   |   |   |   |
| Basic                                                          |   |     | 17,404,834 |   |   |   | 13,829,091 |   |
| Diluted                                                        |   |     | 18,219,639 |   |   |   | 14,301,057 |   |

----

|                                                             |   | 2010     |       |   | 2009   |   |
|------------------------------------------------------------------|--------|----------|------------|--------|--------|--------|
|                                                             |   | Restated |       |   |   |   |
| Gross revenues,                                                  |   | $        | 52,291,902 |   |   | $      | 33,654,919 |   |
| Cost of services                                                 |   |     | 37,304,787 |   |   |   | 22,648,834 |   |
| Gross profit                                                     |   |     | 14,987,115 |   |   |   | 11,006,085 |   |
| Selling, general and administrative expenses                     |   |     | 3,643,184  |   |   |   | 1,802,298 |   |
| Income from operations                                           |   |     | 11,343,931 |   |   |   | 9,203,787 |   |
|                                                             |   |     |       |   |   |   |   |   |
| Other income (expense)                                           |   |     |       |   |   |   |   |   |
| Other income                                                     |   |     | 6,917      |   |   |   | 6,419 |   |
| Gains/(losses) on change in fair value of derivative liabilities |   |     | 949,004    |   |   |   | (5,706,217 | ) |
| Interest income                                                  |   |     | 38,711     |   |   |   | 23,296 |   |
| Total other income (expense)                                     |   |     | 994,632    |   |   |   | (5,676,502 | ) |
| Income before income taxes - continuing operation                |   |     | 12,338,563 |   |   |   | 3,527,285 |   |
|                                                             |   |     |       |   |   |   |   |   |
| Provision for income taxes                                       |   |     | 3,061,550  |   |   |   | 2,138,151 |   |
| Net income - continuing operation                                |   |     | 9,277,013  |   |   |   | 1,389,134 |   |
|                                                             |   |     |       |   |   |   |   |   |
| Income/(loss) from discontinued operations                       |   |     |       |   |   |   | 177,975 |   |
| Loss on disposition                                              |   |     | -          |   |   |   | (770,595 | ) |
| Net income/(loss) from discontinued operation                    |   |     | -          |   |   |   | (592,620 | ) |
|                                                             |   |     |       |   |   |   |   |   |
| Net income                                                       |   | $        | 9,277,013  |   |   | $      | 796,514 |   |
| Comprehensive Income                                             |   |     |       |   |   |   |   |   |
| Net income                                                       |   | $        | 9,277,013  |   |   | $      | 796,514 |   |
| Foreign currency translation adjustments                         |   |     | (454,079   | )      |   |   | 48,587 |   |
| Total comprehensive income                                       |   | $        | 8,822,934  |   |   | $      | 845,101 |   |
|                                                             |   |     |       |   |   |   |   |   |
| Net income per common share - continuing operations              |   |     |       |   |   |   |   |   |
| Basic                                                            |   | $        | 0.54       |   |   | $      | 0.10 |   |
| Diluted                                                          |   | $        | 0.52       |   |   | $      | 0.10 |   |
| Net income/(loss) per common share - discontinued operations     |   |     |       |   |   |   |   |   |
| Basic                                                            |   | $        | -          |   |   | $      | (0.04 | ) |
| Diluted                                                          |   | $        | -          |   |   | $      | (0.04 | ) |
| Total net income per common share                                |   |     |       |   |   |   |   |   |
| Basic                                                            |   | $        | 0.54       |   |   | $      | 0.06 |   |
| Diluted                                                          |   | $        | 0.52       |   |   | $      | 0.06 |   |
| Weighted average common shares outstanding                       |   |     |       |   |   |   |   |   |
| Basic                                                            |   |     | 17,066,154 |   |   |   | 13,851,530 |   |
| Diluted                                                          |   |     | 17,935,313 |   |   |   | 14,277,656 |   |

----

|                                                                                                   |   |   |       |   |   |   |   |         |   |   |       |   |   |     |    |   | Accumulated   |   |       |                |   |
|--------------------------------------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|--------|--------------|--------|--------|------------|--------|--------|----------|---------|--------|---------------|--------|------------|---------------------|--------|
|                                                                                                   |   |   |       |   |   |   |   | Additional   |   |   |       |   |   |     |    |   | Other         |   |       | Total               |   |
|                                                                                                   |   |   |       |   |   |   |   | Paid In |   |   | Statutory  |   |   | Retained |    |   | Comprehensive |   |       | Stockholders’ |   |
|                                                                                              |   |   |       |   | Amount |   |   | Capital      |   |   | Reserve    |   |   | Earnings |    |   | Income        |   |       | Equity              |   |
|                                                                                                   |   |   |       |   |   |   |   |         |   |   |       |   |   |     |    |   |          |   |       |                |   |
| Balance December 31, 2008                                                                              |   |   | 13,873,969 |   |   | $      | 13,873 |         |   | $      | 15,861,116 |   |   | $        | 372,144 |   |          | $      | 26,633,573 |                |   | $ | 1,520,166 |   |   | $ | 44,400,872 |   |
|                                                                                                   |   |   |       |   |   |   |   |         |   |   |       |   |   |     |    |   |          |   |       |                |   |   |   |   |   |   |   |   |
| Cumulative effect of a change in accounting principle-adoption of EITF 07-05 effective January 1, 2009 |   |   | -          |   |   |   | -      |         |   |   | (2,091,738 | )      |   |     | -       |   |          |   | 536,777    |                |   |   | - |   |   |   | (1,554,961 | ) |
| Foreign currency translation adjustments                                                               |   |   | -          |   |   |   | -      |         |   |   | -          |   |   |     | -       |   |          |   | -          |                |   |   | 124,967 |   |   |   | 124,967 |   |
| Stock based compensation – Net of warrants exercise                                              |   |   | 41,120     |   |   |   | 42     |         |   |   | 1,154,367  |   |   |     | -       |   |          |   | -          |                |   |   | - |   |   |   | 1,154,409 |   |
| Fair market value Of treasury stock received and retired                                               |   |   | (238,095   | )      |   |   | (239   | )            |   |   | (2,780,711 | )      |   |     | -       |   |          |   | -          |                |   |   | - |   |   |   | (2,780,950 | ) |
| Warrants exercised                                                                                     |   |   | 811,941    |   |   |   | 813    |         |   |   | 6,571,017  |   |   |     | -       |   |          |   | -          |                |   |   | - |   |   |   | 6,571,830 |   |
| Options exercised                                                                                      |   |   | 3,300      |   |   |   | 3      |         |   |   | 9,567      |   |   |     | -       |   |          |   | -          |                |   |   | - |   |   |   | 9,570 |   |
| Stock issued for cash net of offering costs                                                            |   |   | 2,222,222  |   |   |   | 2,222  |         |   |   | 18,948,027 |   |   |     | -       |   |          |   | -          |                |   |   | - |   |   |   | 18,950,249 |   |
| Income for the year ended December 31, 2009                                                            |   |   | -          |   |   |   | -      |         |   |   | -          |   |   |     | -       |   |          |   | 10,744,901 |                |   |   | - |   |   |   | 10,744,901 |   |
|                                                                                                   |   |   |       |   |   |   |   |         |   |   |       |   |   |     |    |   |          |   |       |                |   |   |   |   |   |   |   |   |
| Balance December 31, 2009 (Restated)                                                                   |   |   | 16,714,457 |   |   | $      | 16,714 |         |   | $      | 37,671,645 |   |   | $        | 372,144 |   |          | $      | 37,915,251 |                |   | $ | 1,645,133 |   |   | $ | 77,620,887 |   |
| Foreign currency translation adjustments                                                               |   |   | -          |   |   |   | -      |         |   |   | -          |   |   |     | -       |   |          |   | -          |                |   |   | (454,079 | ) |   |   | (454,079 | ) |
| Stock based compensation                                                                               |   |   | -          |   |   |   | -      |         |   |   | 677,004    |   |   |     | -       |   |          |   | -          |                |   |   | - |   |   |   | 677,004 |   |
| Stock issued for acquisitions                                                                          |   |   | 326,635    |   |   |   | 327    |         |   |   | 2,833,491  |   |   |     | 360,138 |   |          |   | -          |                |   |   | - |   |   |   | 3,193,956 |   |
| Stock issued for cash net of offering costs                                                            |   |   | 2,857,143  |   |   |   | 2,857  |         |   |   | 18,765,197 |   |   |     | -       |   |          |   | -          |                |   |   | - |   |   |   | 18,768,054 |   |
| Income for the six months ended June 30, 2010                                                          |   |   | -          |   |   |   | -      |         |   |   | -          |   |   |     | -       |   |          |   | 9,277,013  |                |   |   | - |   |   |   | 9,277,013 |   |
|                                                                                                   |   |   |       |   |   |   |   |         |   |   |       |   |   |     |    |   |          |   |       |                |   |   |   |   |   |   |   |   |
| Balance June 30, 2010 (Restated)                                                                       |   |   | 19,898,235 |   |   | $      | 19,898 |         |   | $      | 59,947,337 |   |   | $        | 732,282 |   |          | $      | 47,192,264 |                |   | $ | 1,191,054 |   |   | $ | 109,082,835 |   |

----

|                                                                             |   | 2010     |        |   | 2009     |   |
|----------------------------------------------------------------------------------|--------|----------|-------------|--------|----------|--------|
|                                                                             |   | Restated |        |   | Restated |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                             |   |     |        |   |     |   |
| Net income                                                                       |   | $        | 9,277,013   |   |     | $      | 796,514 |   |
| Add:                                                                             |   |     |        |   |     |   |   |   |
| Net income from discontinued operations                                          |   |     | -           |   |     |   | 592,620 |   |
| Income from continuing operations                                                |   |     | 9,277,013   |   |     |   | 1,389,134 |   |
| Adjustments to reconcile net income to net cash provided by operating activities |   |     |        |   |     |   |   |   |
| Depreciation and amortization                                                    |   |     | 763,707     |   |     |   | 190,739 |   |
| Provision for doubtful accounts                                                  |   |     | 56,824      |   |     |   | 10,905 |   |
| Stock based compensation                                                         |   |     | 677,004     |   |     |   | 495,725 |   |
| Gain on change in fair value of derivative liabilities                           |   |     | (949,004    | )      |     |   | 5,706,217 |   |
| (Increase) / Decrease in assets:                                                 |   |     |        |   |     |   |   |   |
| Restricted cash                                                                  |   |     | (542        | )      |     |   | - |   |
| Accounts receivable                                                              |   |     | (2,068,457  | )      |     |   | (2,556,854 | ) |
| Other receivable                                                                 |   |     | (726,410    | )      |     |   | (2,682,324 | ) |
| Due from related party                                                           |   |     | (6,986,717  | )      |     |   | - |   |
| Advances                                                                         |   |     | 440,063     |   |     |   | (758 | ) |
| Prepayments                                                                      |   |     | (1,676,062  | )      |     |   | 32,791 |   |
| Trade deposits                                                                   |   |     | 2,077,455   |   |     |   | 3,168,216 |   |
| Escrow deposits                                                                  |   |     | -           |   |     |   | 600,499 |   |
| Increase / (Decrease) in current liabilities:                                    |   |     |        |   |     |   |   |   |
| Accounts payable and accrued expenses                                            |   |     | 3,358,139   |   |     |   | 1,601,759 |   |
| Customer deposits                                                                |   |     | (682,465    | )      |     |   | (160,426 | ) |
| Income tax payable                                                               |   |     | 49,711      |   |     |   | (848,691 | ) |
| Net cash provided by continuing operations                                       |   |     | 3,610,258   |   |     |   | 6,946,932 |   |
| Net cash provided by discontinued operations                                     |   |     | -           |   |     |   | 435,259 |   |
| Net cash provided by operating activities                                        |   |     | 3,610,258   |   |     |   | 7,382,191 |   |
|                                                                             |   |     |        |   |     |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                             |   |     |        |   |     |   |   |   |
| Purchase of property & equipment                                             |   |     | (1,864,774  | )      |     |   | (3,558,705 | ) |
| Purchase of  intangibles                                               |   |     | (51,359     | )      |     |   | (168,955 | ) |
| Proceeds from collection of notes                                                |   |     | 1,484,210   |   |     |   | - |   |
| Acquisition deposits                                                             |   |     | 478,391     |   |     |   | - |   |
| Paid for acquisition – net of cash acquired                                |   |     | (15,782,799 | )      |     |   | (1,035,125 | ) |
| Net cash (used in) investing activities                                          |   |     | (15,736,331 | )      |     |   | (4,762,785 | ) |
|                                                                             |   |     |        |   |     |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                             |   |     |        |   |     |   |   |   |
| Proceeds of equity financing                                                     |   |     | 18,768,054  |   |     |   | - |   |
| Net cash provided by financing activities                                        |   |     | 18,768,054  |   |     |   | - |   |
|                                                                             |   |     |        |   |     |   |   |   |
| Effect of exchange rate changes on cash and cash equivalents                     |   |     | 271,514     |   |     |   | 48,587 |   |
|                                                                             |   |     |        |   |     |   |   |   |
| Net change in cash and cash equivalents                                          |   |     | 6,913,495   |   |     |   | 2,667,993 |   |
| Cash and cash equivalents, beginning balance                                     |   |     | 36,574,741  |   |     |   | 15,720,182 |   |
| Cash and cash equivalents, ending balance                                        |   | $        | 43,488,236  |   |     | $      | 18,388,175 |   |
|                                                                             |   |     |        |   |     |   |   |   |
| SUPPLEMENTAL DISCLOSURES:                                                        |   |     |        |   |     |   |   |   |
| Cash paid during the year for:                                                   |   |     |        |   |     |   |   |   |
| Income taxes                                                                     |   | $        | 2,380,077   |   |     | $      | 3,043,089 |   |
| Other non-cash transactions                                                      |   |     |        |   |     |   |   |   |
| Net assets sold of discontinued operations                                       |   | $        | -           |   |     | $      | 1,659,292 |   |
| Goodwill attributable to sold discontinued operations                            |   |     | -           |   |     |   | 3,630,539 |   |
| Note received on disposition                                                     |   |     | -           |   |     |   | (2,773,411 | ) |
| Fair value of treasury stock received                                            |   |     | -           |   |     |   | (2,780,950 | ) |
| Loss on disposition                                                              |   |     | -           |   |     |   | (770,595 | ) |
| Cash of discontinued operations                                                  |   | $        | -           |   |     | $      | (1,035,125 | ) |
| Purchased goodwill                                                               |   | $        | (14,612,639 | )      |     | $      | - |   |
| Purchased intangible assets                                                      |   |     | (3,236,376  | )      |     |   | - |   |
| Fair value of assets purchased less cash acquired                                |   |     | (767,602    | )      |     |   | - |   |
| Acquisition financed with stock issuance                                         |   |     | 2,833,818   |   |     |   | - |   |
| Acquisition paid for with cash - net of acquired                                 |   | $        | (15,782,799 | )      |     | $      | - |   |

----

----

| Consideration                                                         |   | $      | 5,554,361  |   |
|-----------------------------------------------------------------------|--------|--------|------------|--------|
| Goodwill attributable to sold Shenzhen Speedy Dragon Enterprises Ltd. |   |   | (3,630,539 | )      |
| Net equity of Shenzhen Speedy Dragon Ltd.                             |   |   | (2,694,417 | )      |
| Loss on disposition of discontinued operation                         |   | $      | (770,595   | )      |

|                                            |    | Six months ended |    |    | Three months ended |    |
|------------------------------------------------------|--------------|----------------------------|--------------|--------------|------------------------------|--------------|
|                                            |    | June 30, 2009    |    |    | June 30, 2009      |    |
| Sales                                                |         | $                          | 3,631,545    |         |                         | $            | 1,772,566 |   |
| Cost of sales                                        |         |                       | 3,218,140    |         |                         |         | 1,613,857 |   |
|                                                 |         |                       |         |         |                         |         |   |   |
| Gross profit                                         |         |                       | 413,405      |         |                         |         | 158,709 |   |
|                                                 |         |                       |         |         |                         |         |   |   |
| Operating expenses                                   |         |                       | 190,989      |         |                         |         | 96,057 |   |
| Income from discontinued operation before income tax |         |                       | 222,416      |         |                         |         | 62,652 |   |
|                                                 |         |                       |         |         |                         |         |   |   |
| Income tax                                           |         |                       | 44,441       |         |                         |         | 16,370 |   |
| Net Income from discontinued operations              |         | $                          | 177,975      |         |                         | $            | 46,282 |   |

----

----

| Description                   |    | Balance at beginning of year |    |    | Charged to expenses |    |    | Deductions |    |    | Balance as of June 30, 2010 |    |
|------------------------------------|--------------|--------------------------------------------------|--------------|--------------|-------------------------------|--------------|--------------|------------|--------------|--------------|------------------------------------------------------|--------------|
| Allowance for doubtful receivables |         | $                                                | 414,927      |         |                          | $            | 56,824       |       |         | $            | -                                                    |         |   | $ | 471,751 |   |

| Furniture and Fixtures   |   | 5 years            |
|--------------------------|--------|--------------------|
| Transportation equipment |   | 5 years            |
| Office equipment         |   | 5 years            |
| Leasehold Improvements   |   | 5 – 10 years |

|                |    | June 30, 2010 |    |    | December 31, 2009 |    |
|--------------------------|--------------|-------------------------|--------------|--------------|-----------------------------|--------------|
| Office equipment         |         | $                       | 6,137,874    |         |                        | $            | 4,146,637 |   |
| Transportation equipment |         |                    | 428,749      |         |                        |         | 150,232 |   |
| Furniture & fixtures |         |                    | 52,905       |         |                        |         | 23,560 |   |
| Leasehold improvements   |         |                    | 1,465,385    |         |                        |         | 1,385,481 |   |
|                     |         |                    | 8,084,913    |         |                        |         | 5,705,910 |   |
| Accumulated depreciation |         |                    | (1,597,694   | )            |                        |         | (713,233 | ) |
|                     |         | $                       | 6,487,219    |         |                        | $            | 4,992,677 |   |

----

|                                              |   | December 31,2010 |       |   | December 31,2009 |   |
|--------------------------------------------------------|--------|-----------------------|------------|--------|-----------------------|--------|
| Shanghai Lanbao Travel Service Co., Ltd.               |   | $                     | 3,081,799  |   |                  | $      | 3,081,799 |   |
| Foshan Overseas International Travel Service Co., Ltd. |   |                  | 6,049,576  |   |                  |   | 6,049,576 |   |
| Xian Golden Net Travel Serve Services Co.,Ltd.         |   |                  | 764,895    |   |                  |   | 764,895 |   |
| Zhengzhou Yulongkang Agency Co., Ltd.                  |   |                  | 3,812,004  |   |                  |   | - |   |
| Hebei Taiyuan Travel Agency Co., Ltd.                  |   |                  | 3,320,700  |   |                  |   | - |   |
| Huangshan Holiday Travel Service Co., Ltd.             |   |                  | 1,892,511  |   |                  |   | - |   |
| Kunming Business Travel Service Co., Ltd.              |   |                  | 3,977,608  |   |                  |   | - |   |
| Shanxi Jinyang Travel Agency Co., Ltd.                 |   |                  | 1,609,816  |   |                  |   | - |   |
|                                                   |   | $                     | 24,508,909 |   |                  | $      | 9,896,270 |   |

----

----

----

----

----

|                                                                                                    |   | Six months ended June 30, |       |   | Three months ended June 30, |   |
|---------------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|------------|--------|-------------------------------------------------|--------|
|                                                                                               |   | 2010                                          |       |   | 2009                                            |   |   | 2010 |   |   | 2009 |   |
| Basic earnings (losses) from continuing operations per share:                                           |   |                                          |       |   |                                            |   |   |   |   |   |   |   |
| Numerator:                                                                                              |   |                                          |       |   |                                            |   |   |   |   |   |   |   |
| Income (loss) from continuing operations  used in computing basic earnings (losses) per share |   | $                                             | 9,277,013  |   |                                            | $      | 1,389,134 |   |   | $ | 5,730,578 |   |   | $ | (1,860,712 | ) |
| Income (loss) from continuing operations applicable to common shareholders                              |   | $                                             | 9,277,013  |   |                                            | $      | 1,389,134 |   |   | $ | 5,730,578 |   |   | $ | (1,860,712 | ) |
|                                                                                                    |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Denominator:                                                                                            |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                                                              |   |                                          | 17,066,154 |   |                                            |   | 13,851,530 |   |   |   | 17,404,834 |   |   |   | 13,829,091 |   |
| Basic earnings (losses) per share from continuing operations                                            |   | $                                             | 0.54       |   |                                            | $      | 0.10 |   |   | $ | 0.33 |   |   | $ | (0.14 | ) |
|                                                                                                    |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Diluted earnings (losses) per share from continuing operations:                                         |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Numerator:                                                                                              |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) from continuing operations used in computing diluted earnings (losses) per share          |   | $                                             | 9,277,013  |   |                                            | $      | 1,389,134 |   |   | $ | 5,730,578 |   |   | $ | (1,860,712 | ) |
| Income (loss) from continuing operations applicable to common shareholders                              |   | $                                             | 9,277,013  |   |                                            | $      | 1,389,134 |   |   | $ | 5,730,578 |   |   | $ | (1,860,712 | ) |
|                                                                                                    |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Denominator:                                                                                            |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                                                              |   |                                          | 17,066,154 |   |                                            |   | 13,851,530 |   |   |   | 17,404,834 |   |   |   | 13,829,091 |   |
| Weighted average effect of dilutive securities:                                                         |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Stock options and warrants                                                                              |   |                                          | 869,159    |   |                                            |   | 426,126 |   |   |   | 814,806 |   |   |   | 471,966 |   |
| Shares used in computing diluted net income (loss) per share                                            |   |                                          | 17,935,313 |   |                                            |   | 14,277,656 |   |   |   | 18,219,639 |   |   |   | 14,301,057 |   |
| Diluted earnings (losses) per share from continuing operations                                          |   | $                                             | 0.52       |   |                                            | $      | 0.10 |   |   | $ | 0.31 |   |   | $ | (0.13 | ) |

----

|                                                                                              |   | Six months ended June 30, |       |   | Three months ended June 30, |   |
|---------------------------------------------------------------------------------------------------|--------|-----------------------------------------------|------------|--------|-------------------------------------------------|--------|
|                                                                                         |   | 2010                                          |       |   | 2009                                            |   |   | 2010 |   |   | 2009 |   |
| Basic earnings (losses) from discontinued operations per share:                                   |   |                                          |       |   |                                            |   |   |   |   |   |   |   |
| Numerator:                                                                                        |   |                                          |       |   |                                            |   |   |   |   |   |   |   |
| Income (loss) from discontinued operations  used in computing basic earnings per share  |   | $                                             | -          |   |                                            | $      | (592,620 | ) |   | $ | - |   |   | $ | (724,313 | ) |
| Income (loss) from discontinued operations applicable to common shareholders                      |   | $                                             | -          |   |                                            | $      | (592,620 | ) |   | $ | - |   |   | $ | (724,313 | ) |
|                                                                                              |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Denominator:                                                                                      |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                                                        |   |                                          | 17,066,154 |   |                                            |   | 13,851,530 |   |   |   | 17,404,834 |   |   |   | 13,829,091 |   |
| Basic earnings per share from discontinued operations                                             |   | $                                             | -          |   |                                            | $      | (0.04 | ) |   | $ | - |   |   | $ | (0.05 | ) |
|                                                                                              |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Diluted earnings (losses) per share from discontinued operations:                                 |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Numerator:                                                                                        |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Income (loss) from discontinuing operations used in computing diluted earnings (losses) per share |   | $                                             | -          |   |                                            | $      | (592,620 | ) |   | $ | - |   |   | $ | (724,313 | ) |
| Income (loss) from discontinued operations applicable to common shareholders                      |   | $                                             | -          |   |                                            | $      | (592,620 | ) |   | $ | - |   |   | $ | (724,313 | ) |
|                                                                                              |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Denominator:                                                                                      |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                                                        |   |                                          | 17,066,154 |   |                                            |   | 13,851,530 |   |   |   | 17,404,834 |   |   |   | 13,829,091 |   |
| Weighted average effect of dilutive securities:                                                   |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Stock options and  warrants                                                             |   |                                          | 869,159    |   |                                            |   | 426,126 |   |   |   | 814,806 |   |   |   | 471,966 |   |
| Shares used in computing diluted net income (loss) per share                                      |   |                                          | 17,935,313 |   |                                            |   | 14,277,656 |   |   |   | 18,219,639 |   |   |   | 14,301,057 |   |
| Diluted earnings per share from discontinued operations                                           |   | $                                             | -          |   |                                            | $      | (0.04 | ) |   | $ | - |   |   | $ | (0.05 | ) |
|                                                                                              |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Total net income (loss) per common share                                                          |   |                                          |       |   |                                            |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                                             |   | $                                             | 0.54       |   |                                            | $      | 0.06 |   |   | $ | 0.33 |   |   | $ | (0.19 | ) |
| Dilute                                                                                            |   | $                                             | 0.52       |   |                                            | $      | 0.06 |   |   | $ | 0.31 |   |   | $ | (0.18 | ) |

----

----

----

|                                                                                                                                                                                                                                           |   | June 30, |      |   | December 31, |   |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------|-----------|--------|-------------------|--------|
|                                                                                                                                                                                                                                      |   | 2010          |      |   | 2009              |   |
| Shenzhen Yuzhilu Aviation Service Co., Ltd:                                                                                                                                                                                                    |   |          |      |   |              |   |
| Deposit for tripeasy kiosks. The Company will start record of asset and depreciation on a 5 year straight-line method for the actual number of kiosk when they start operation.                                                                |   | $             | -         |   |              | $      | 1,465,592 |   |
| Deposit for central ticket system. This was a credit based for obtaining air tickets from third party before any payments, and the full amounts are returnable.                                                                                |   |          | 3,834     |   |              |   |   |   |
| Deposit for airlines. This was a credit based for issuing air-tickets, and the full amount is returnable if the company discontinues air-ticket business.                                                                                      |   |          | 516,115   |   |              |   | 2,811,004 |   |
| Deposit for Financial System Software                                                                                                                                                                                                          |   |          | -         |   |              |   | 16,898 |   |
| Deposit for air-ports. This was a deposit for admittance to do marketing in air-ports, and is deductible against monthly rental obligation to air-ports                                                                                        |   |          | -         |   |              |   | 8,508 |   |
| Deposit for agencies. This was a credit based for the company to issue other ticket agencies' special fare air-ticket, and the full amount is returnable if the company discontinues its business with other agencies.                         |   |          | 3,529,929 |   |              |   | 1,100,158 |   |
| Subtotal                                                                                                                                                                                                                                       |   |          | 4,049,878 |   |              |   | 5,402,160 |   |
|                                                                                                                                                                                                                                           |   |          |      |   |              |   |   |   |
| Huangshan Holiday Travel Agency Co., Ltd.:                                                                                                                                                                                                     |   |          |      |   |              |   |   |   |
| Advance payment to tour guides for expenses during leading the tour. This will be transferred to costs when the tour guide return from tour and provide supporting evidence.                                                                   |   |          | 885       |   |              |   | - |   |
| Subtotal                                                                                                                                                                                                                                       |   |          | 885       |   |              |   | - |   |
|                                                                                                                                                                                                                                           |   |          |      |   |              |   |   |   |
| Foshan Overseas International Travel Service Co. Ltd.:                                                                                                                                                                                         |   |          |      |   |              |   |   |   |
| Deposit paid to tour companies.  This was a credit based for co-operate travel agencies, and is deductible against tour payments, the balance is returnable when cease doing business with these agencies.                           |   |          | 458,056   |   |              |   | 969,261 |   |
| Advance payment to tour guides for expenses during leading the tour. This will be transferred to costs when the tour guide return from tour and provide supporting evidence.                                                                   |   |          | -         |   |              |   | 243,342 |   |
| Subtotal                                                                                                                                                                                                                                       |   |          | 458,056   |   |              |   | 1,212,603 |   |
|                                                                                                                                                                                                                                           |   |          |      |   |              |   |   |   |
| Xian Golden Net Travel Serve Services, Ltd.:                                                                                                                                                                                                   |   |          |      |   |              |   |   |   |
| Deposit for Tour companies. This was a credit based for co-operate travel agencies, and is deductible against tour payments, the balance is returnable when cease doing business with these agencies                                           |   |          | 560,353   |   |              |   | 425,396 |   |
| Deposit for transportations.  This was a credit based for co-operate transportation suppliers, and is deductible against transportation payments, the balance is returnable when cease doing business with these agencies. |   |          | -         |   |              |   | 132,019 |   |
| Subtotal                                                                                                                                                                                                                                       |   |          | 560,353   |   |              |   | 557,415 |   |
|                                                                                                                                                                                                                                           |   |          |      |   |              |   |   |   |
| Chongqing Travel World E-Business Co., Ltd.                                                                                                                                                                                                    |   |          |      |   |              |   |   |   |
| Deposit for agencies. This was a credit based for the company to issue other ticket agencies' special fare air-ticket, and the full amount is returnable if the company discontinues its business with other agencies.                         |   |          | 2,600,447 |   |              |   | 2,587,279 |   |
| Subtotal                                                                                                                                                                                                                                       |   |          | 2,600,447 |   |              |   | 2,587,279 |   |
|                                                                                                                                                                                                                                           |   |          |      |   |              |   |   |   |
| Shenzhen Universal Travel                                                                                                                                                                                                                      |   |          |      |   |              |   |   |   |
| Deposit for agencies. This was a credit based for the company to issue other ticket agencies' special fare air-ticket, and the full amount is returnable if the company discontinues its business with other agencies.                         |   |          | 36,865    |   |              |   | 16,278 |   |
| Subtotal                                                                                                                                                                                                                                       |   |          | 36,865    |   |              |   | 16,278 |   |
| Total                                                                                                                                                                                                                                          |   | $             | 7,706,484 |   |              | $      | 9,775,735 |   |

----

|                       | Six months |   | Six months |   | Three months |   | Three months |   |
|----------------------------|-----------------|--------|-----------------|--------|-------------------|--------|-------------------|--------|
|                       | ended           |   | ended           |   | ended             |   | ended             |   |
|                       | June 30,   |   | June 30,   |   | June 30,     |   | June 30,     |   |
|                       | 2010            |   | 2009            |   | 2010              |   | 2009              |   |
| Current income tax expense |            | $      | 3,061,550       |   |              | $      | 2,138,151         |   |   | $ | 1,782,484 |   |   | $ | 1,020,955 |   |
| Actual effective tax rate  |            |   | 24.81           | %      |              |   | 60.62             | %      |   |   | 23.73 | % |   |   | -121.58 | % |

| 2011        |   | $      | 698,395   |   |
|-------------|--------|--------|-----------|--------|
| 2012        |   |   | 295,670   |   |
| 2013        |   |   | 262,934   |   |
| 2014        |   |   | 201,274   |   |
| 2015        |   |   | 30,818    |   |
| There after |   |   | 11,060    |   |
| Total       |   | $      | 1,500,151 |   |

----

| Cash acquired                       |   | $      | 814,097   |   |
|-------------------------------------|--------|--------|-----------|--------|
| Other assets                        |   |   | 441,494   |   |
| Property Plant & Equipment      |   |   | 80,121    |   |
| Identifiable Intangibles            |   |   | 892,898   |   |
| Goodwill                            |   |   | 3,977,608 |   |
| Total assets acquired               |   |   | 6,206,218 |   |
| Liabilities assumed                 |   |   |      |   |
| Accounts & Income Taxes payable |   |   | 174,732   |   |
| Deferred Tax Liability              |   |   | 223,224   |   |
| Other payable                       |   |   | 72,394    |   |
| Total                               |   | $      | 5,735,868 |   |

----

| Cash acquired                       |   | $      | 7,258     |   |
|-------------------------------------|--------|--------|-----------|--------|
| Other assets                        |   |   | 534,373   |   |
| Property Plant & Equipment      |   |   | 20,339    |   |
| Identifiable Intangibles            |   |   | 361,124   |   |
| Goodwill                            |   |   | 1,609,816 |   |
| Total assets acquired               |   |   | 2,532,910 |   |
| Liabilities assumed                 |   |   |      |   |
| Accounts & Income Taxes payable |   |   | 78,574    |   |
| Deferred Tax Liability              |   |   | 90,281    |   |
| Other payable                       |   |   | 99,123    |   |
| Total                               |   | $      | 2,264,932 |   |

----

| Cash acquired                       |   | $      | 1,513,636 |   |
|-------------------------------------|--------|--------|-----------|--------|
| Accounts receivable                 |   |   | 29,154    |   |
| Other assets                        |   |   | 11,779    |   |
| Property Plant & Equipment      |   |   | 29,019    |   |
| Identifiable Intangibles            |   |   | 805,626   |   |
| Goodwill                            |   |   | 3,812,004 |   |
| Total assets acquired               |   |   | 6,201,218 |   |
| Liabilities assumed                 |   |   |      |   |
| Accounts & Income Taxes payable |   |   | 230,107   |   |
| Deferred Tax Liability              |   |   | 201,406   |   |
| Other payable                       |   |   | 56,769    |   |
| Total                               |   | $      | 5,712,936 |   |

| Cash acquired                       |   | $      | 340,174   |   |
|-------------------------------------|--------|--------|-----------|--------|
| Accounts receivable                 |   |   | 21,450    |   |
| Other assets                        |   |   | 452,193   |   |
| Property Plant & Equipment      |   |   | 69,682    |   |
| Identifiable Intangibles            |   |   | 479,870   |   |
| Goodwill                            |   |   | 1,892,511 |   |
| Total assets acquired               |   |   | 3,255,880 |   |
| Liabilities assumed                 |   |   |      |   |
| Accounts & Income Taxes payable |   |   | 176,863   |   |
| Deferred Tax Liability              |   |   | 119,968   |   |
| Other payable                       |   |   | 29,534    |   |
| Total                               |   | $      | 2,929,515 |   |

----

| Cash acquired                       |   | $      | 532,349   |   |
|-------------------------------------|--------|--------|-----------|--------|
| Accounts receivable                 |   |   | 120,152   |   |
| Other assets                        |   |   | 208,771   |   |
| Property Plant & Equipment      |   |   | 49,637    |   |
| Identifiable Intangibles            |   |   | 696,858   |   |
| Goodwill                            |   |   | 3,320,700 |   |
| Total assets acquired               |   |   | 4,928,467 |   |
| Liabilities assumed                 |   |   |      |   |
| Accounts & Income Taxes payable |   |   | 232,188   |   |
| Deferred Tax Liability              |   |   | 174,215   |   |
| Other payable                       |   |   | 123,602   |   |
| Total                               |   | $      | 4,398,462 |   |

----

----

|                           |   | Total  |      | Exercise Price |   | Remaining Life  |             | Aggregate Intrinsic Value |         |
|--------------------------------|--------|--------|-----------|---------------------|--------|---------------------------|------------------|-------------------------------------|--------------|
|                           |   |   |      |                |   |                      |             |                                |         |
| Outstanding, December 31, 2009 |   |   | 1,603,888 |                |   | $                         | 2.70–11.25 |                                | 7.44-9.67yrs |   |   | - |   |
| Outstanding, June 30, 2010     |   |   | 1,603,888 |                |   |                      |             |                                |         |   |   |   |   |

|                                           | Foreign Currency |   | Accumulated Other |   |
|------------------------------------------------|-----------------------|--------|------------------------|--------|
|                                           | Translation           |   | Comprehensive          |   |
|                                           | Adjustment            |   | Income                 |   |
| Balance December 31, 2008                      |                  | $      | 1,520,166              |   |   | $ | 1,520,166 |   |
| Changes for year ended December 31, 2009       |                  |   | 124,967                |   |   |   | 124,967 |   |
| Balance December 31, 2009                      |                  |   | 1,645,133              |   |   |   | 1,645,133 |   |
| Changes for the six months ended June 30, 2010 |                  |   | (454,079               | )      |   |   | (454,079 | ) |
| Balance at June 30, 2010                       |                  | $      | 1,191,054              |   |   | $ | 1,191,054 |   |

----

----

|                            |   | Air                                         |       | Hotel       |   | Package |      |   |   |   |       |   |
|---------------------------------|--------|---------------------------------------------|------------|-------------|--------|---------|-----------|--------|--------|--------|------------|--------|
|                            |   | Ticketing                                   |       | Reservation |   | Tours   |      | Other  |   |   | Total      |   |
|                            |   | Six Months Ended June 30, 2010 (Restated)   |       |
| Sales, net                      |   | $                                           | 8,702,488  |        |   | $       | 6,462,123 |   |   | $      | 37,127,291 |   |   | $ | - |   |   | $ | 52,291,902 |   |
| Cost of sales                   |   | $                                           | 2,833,290  |        |   | $       | 1,979,573 |   |   | $      | 32,491,924 |   |   | $ | - |   |   | $ | 37,304,787 |   |
| Gross profit                    |   | $                                           | 5,869,198  |        |   | $       | 4,482,550 |   |   | $      | 4,635,367  |   |   | $ | - |   |   | $ | 14,987,115 |   |
| Income from operations          |   | $                                           | 4,165,082  |        |   | $       | 4,389,490 |   |   | $      | 4,130,012  |   |   | $ | (1,344,037 | ) |   | $ | 11,340,547 |   |
| Depreciation & Amortization |   | $                                           | 740,235    |        |   | $       | 879       |   |   | $      | 22,593     |   |   | $ |   |   |   | $ | 763,707 |   |
| Asset Expenditures              |   | $                                           | 1,830,295  |        |   | $       | 33,467    |   |   | $      | 1,012      |   |   | $ |   |   |   | $ | 1,864,774 |   |
| Total assets                    |   | $                                           | 60,542,681 |        |   | $       | 7,435,604 |   |   | $      | 28,741,119 |   |   | $ | 23,943,550 |   |   | $ | 120,662,954 |   |
|                            |   | Six Months Ended June 30, 2009              |       |
| Sales, net                      |   | $                                           | 6,045,642  |        |   | $       | 5,230,975 |   |   | $      | 22,378,302 |   |   | $ | - |   |   | $ | 33,654,919 |   |
| Cost of sales                   |   | $                                           | 1,686,164  |        |   | $       | 1,683,627 |   |   | $      | 19,279,043 |   |   | $ | - |   |   | $ | 22,648,834 |   |
| Gross profit                    |   | $                                           | 5,393,663  |        |   | $       | 3,547,348 |   |   | $      | 3,360,492  |   |   | $ | - |   |   | $ | 11,006,085 |   |
| Income from operations          |   | $                                           | 3,722,661  |        |   | $       | 3,471,539 |   |   | $      | 2,846,988  |   |   | $ | (837,401 | ) |   | $ | 9,203,787 |   |
| Depreciation & Amortization |   | $                                           | 180,515    |        |   | $       | 2,618     |   |   | $      | 7,606      |   |   | $ | - |   |   | $ | 190,739 |   |
| Asset Expenditures              |   | $                                           | 3,558,705  |        |   | $       | -         |   |   | $      | -          |   |   | $ | - |   |   | $ | 3,558,705 |   |
| Total assets                    |   | $                                           | 30,987,883 |        |   | $       | 9,499,533 |   |   | $      | 8,024,758  |   |   | $ | 5,210,309 |   |   | $ | 53,722,483 |   |
|                            |   | Three Months Ended June 30, 2010 (restated) |       |
| Sales, net                      |   | $                                           | 4,796,513  |        |   | $       | 3,432,017 |   |   | $      | 23,637,593 |   |   | $ | - |   |   | $ | 31,866,123 |   |
| Cost of sales                   |   | $                                           | 1,465,419  |        |   | $       | 981,156   |   |   | $      | 20,688,727 |   |   | $ | - |   |   | $ | 23,135,302 |   |
| Gross profit                    |   | $                                           | 3,331,094  |        |   | $       | 2,450,861 |   |   | $      | 2,948,866  |   |   | $ | - |   |   | $ | 8,730,821 |   |
| Income from operations          |   | $                                           | 2,396,956  |        |   |    | 2,395,312 |   |   |   | 2,594,654  |   |   |   | (736,682 | ) |   | $ | 6,650,240 |   |
| Depreciation & Amortization |   | $                                           | 442,389    |        |   | $       | 440       |   |   | $      | 19,774     |   |   | $ |   |   |   | $ | 462,603 |   |
| Asset Expenditures              |   | $                                           | 1,244,146  |        |   | $       | 33,467    |   |   | $      | (10,394    | )      |   | $ | - |   |   | $ | 1,267,219 |   |
| Total assets                    |   | $                                           | 60,542,681 |        |   | $       | 7,435,604 |   |   | $      | 28,741,119 |   |   | $ | 23,943,550 |   |   | $ | 120,662,954 |   |
|                            |   | Three Months Ended June 30, 2009            |       |
| Sales, net                      |   | $                                           | 3,294,514  |        |   | $       | 2,714,144 |   |   | $      | 12,224,268 |   |   | $ | - |   |   | $ | 18,232,926 |   |
| Cost of sales                   |   | $                                           | 816,176    |        |   | $       | 910,164   |   |   | $      | 10,616,442 |   |   | $ | - |   |   | $ | 12,342,782 |   |
| Gross profit                    |   | $                                           | 2,478,338  |        |   | $       | 1,803,980 |   |   | $      | 1,607,826  |   |   | $ | - |   |   | $ | 5,890,144 |   |
| Income from operations          |   | $                                           | 2,147,871  |        |   | $       | 1,772,243 |   |   | $      | 1,461,127  |   |   | $ | (416,466 | ) |   | $ | 4,964,775 |   |
| Depreciation & Amortization |   | $                                           | 100,886    |        |   | $       | 1,557     |   |   | $      | 3,640      |   |   | $ | - |   |   | $ | 106,083 |   |
| Asset Expenditures              |   | $                                           | 2,298,307  |        |   | $       | -         |   |   | $      | -          |   |   | $ | - |   |   | $ | 2,298,307 |   |
| Total assets                    |   | $                                           | 30,987,883 |        |   | $       | 9,499,533 |   |   | $      | 8,024,758  |   |   | $ | 5,210,309 |   |   | $ | 53,722,483 |   |

----

|   | · | Reclassified cash restricted by local travel bureau from cash and cash equivalent to restricted cash; |
|--------|--------|-------------------------------------------------------------------------------------------------------|

|   | · | Restated goodwill, intangible assets, deferred tax liabilities, and retained earnings due to an inconsistency between the acquisition dates of five new subsidiaries per the Company's 8-K filings and the reported periods of profit and loss statements included in the consolidated financial statements of the company; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reclassified business tax and levies from selling expenses and COGS to revenues; |
|--------|--------|----------------------------------------------------------------------------------|

|   | · | Reclassified commission paid to retail air ticketing agencies from selling expenses to COGS; |
|--------|--------|----------------------------------------------------------------------------------------------|

|   | · | Restated overstated net income $857,027, revenues $10,579,717, and expenses for the six months ended June 30, 2010 and net income $313,620, revenues $4,875,489, and expenses for the three months ended June 30, 2010 due to an inconsistency between the acquisition dates of five new subsidiaries per the Company's 8-K filings and the reported periods of profit and loss statements included in the consolidated financial statements of the company ; |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Restated overstated retained earnings $857,027 due to an inconsistency between the acquisition dates of five new subsidiaries per the Company's 8-K filings and the reported periods of profit and loss statements included in the consolidated financial statements of the company; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | As a result of above reclassifications and restatement, the corresponding line items on the consolidated statements of cash flows have been restated. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | As a result of above reclassifications and restatement, the corresponding line items on the segment information have been restated. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reclassified the revenue and cost of services of hotel reservation business in Huangshan Holiday Travel Service Co., Ltd. from packaged tours segment to hotel reservation segment. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Reclassified the revenue and cost of services of packaged tours business in Chongqing Travel World E-Business Co., Ltd. from air ticketing segment to packaged tours segment. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|                                                                                                                                                               |   | As of June 30, 2010 |        |   | Changes                          |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------------|-------------|--------|----------------------------------|--------|
|                                                                                                                                                               |   | As restated                        |        |   | As previously reported |   |   | Inc/(Dec) |   |
| ASSETS                                                                                                                                                             |   |                                    |        |   |                             |   |   |   |   |
| Cash and cash equivalents                                                                                                                                          |   | $                                       | 43,488,236  |   |                             | $      | 43,591,459 |   |   | $ | (103,223 | ) |
| Restricted cash                                                                                                                                                    |   |                                    | 103,223     |   |                             |   | - |   |   |   | 103,223 |   |
| Accounts receivable, net                                                                                                                                           |   |                                    | 19,555,644  |   |                             |   | 19,555,644 |   |   |   | - |   |
| Other receivables and deposits, net                                                                                                                                |   |                                    | 2,127,552   |   |                             |   | 2,127,552 |   |   |   | - |   |
| Due from related party                                                                                                                                             |   |                                    | 6,986,717   |   |                             |   | 6,986,717 |   |   |   | - |   |
| Trade deposit                                                                                                                                                      |   |                                    | 7,706,484   |   |                             |   | 7,706,484 |   |   |   | - |   |
| Prepayments                                                                                                                                                        |   |                                    | 2,389,960   |   |                             |   | 2,389,960 |   |   |   | - |   |
| Note receivable                                                                                                                                                    |   |                                    | 227,182     |   |                             |   | 227,182 |   |   |   | - |   |
| Acquisition Deposits                                                                                                                                               |   |                                    | 3,599,530   |   |                             |   | 3,599,530 |   |   |   | - |   |
| Total Current Assets                                                                                                                                               |   |                                    | 86,184,528  |   |                             |   | 86,184,528 |   |   |   | - |   |
|                                                                                                                                                               |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Property, plant & equipment, net                                                                                                                               |   |                                    | 6,487,219   |   |                             |   | 6,487,219 |   |   |   | - |   |
| Intangible assets                                                                                                                                                  |   |                                    | 3,482,297   |   |                             |   | 3,320,478 |   |   |   | 161,819 |   |
| Goodwill                                                                                                                                                           |   |                                    | 24,508,909  |   |                             |   | 24,812,040 |   |   |   | (303,131 | ) |
| Total Noncurrent Assets                                                                                                                                            |   |                                    | 34,478,425  |   |                             |   | 34,619,737 |   |   |   | (141,312 | ) |
| Total Assets                                                                                                                                                       |   | $                                       | 120,662,953 |   |                             | $      | 120,804,265 |   |   | $ | (141,312 | ) |
|                                                                                                                                                               |   |                                    |        |   |                             |   |   |   |   |   |   |   |
|  LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                         |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Current Liabilities                                                                                                                                                |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Accounts payable and accrued expenses                                                                                                                              |   | $                                       | 6,507,357   |   |                             | $      | 6,507,357 |   |   | $ | - |   |
| Customer deposits                                                                                                                                                  |   |                                    | 1,334,192   |   |                             |   | 1,334,192 |   |   |   | - |   |
| Income tax payable                                                                                                                                                 |   |                                    | 2,063,161   |   |                             |   | 2,063,161 |   |   |   | - |   |
| Total Current Liabilities                                                                                                                                          |   |                                    | 9,904,710   |   |                             |   | 9,904,710 |   |   |   | - |   |
| Derivative liability                                                                                                                                               |   |                                    | 866,314     |   |                             |   | 866,314 |   |   |   | - |   |
| Deferred tax liabilities                                                                                                                                           |   |                                    | 809,094     |   |                             |   | - |   |   |   | 809,094 |   |
| Total Liabilities                                                                                                                                             |   |                                    | 11,580,118  |   |                             |   | 10,771,024 |   |   |   | 809,094 |   |
|                                                                                                                                                               |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Stockholders' Equity                                                                                                                                               |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Common stock, $.001 par value, 70,000,000 shares authorized, 19,898,235 and 16,714,457 issued and outstanding at June 30, 2010 and December 31, 2009, respectively |   |                                    | 19,898      |   |                             |   | 19,898 |   |   |   | - |   |
| Additional paid in capital                                                                                                                                         |   |                                    | 59,947,337  |   |                             |   | 59,947,337 |   |   |   | - |   |
| Statutory reserve                                                                                                                                                  |   |                                    | 732,282     |   |                             |   | 732,282 |   |   |   | - |   |
| Retained earnings                                                                                                                                                  |   |                                    | 47,192,264  |   |                             |   | 48,049,291 |   |   |   | (857,027 | ) |
| Accumulated other comprehensive income                                                                                                                             |   |                                    | 1,191,054   |   |                             |   | 1,284,433 |   |   |   | (93,379 | ) |
| Total Stockholders' Equity                                                                                                                                         |   |                                    | 109,082,835 |   |                             |   | 110,033,241 |   |   |   | (950,406 | ) |
| Total Liabilities and Stockholders' Equity                                                                                                                         |   | $                                       | 120,662,953 |   |                             | $      | 120,804,265 |   |   | $ | (141,312 | ) |

----

|                                                           |   | For the three months ended June 30, 2010 |       |   | Changes                          |   |
|----------------------------------------------------------------|--------|-----------------------------------------------------------------------------|------------|--------|----------------------------------|--------|
|                                                           |   | As restated                                                            |       |   | As previously reported |   |   | Inc/(Dec) |   |
| Gross revenues,                                                |   | $                                                                           | 31,866,123 |   |                             | $      | 36,741,612 |   |   | $ | (4,875,489 | ) |
| Cost of services                                               |   |                                                                        | 23,135,302 |   |                             |   | 26,188,473 |   |   |   | (3,053,171 | ) |
| Gross profit                                                   |   |                                                                        | 8,730,821  |   |                             |   | 10,553,139 |   |   |   | (1,822,318 | ) |
|                                                           |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Selling, general and administrative expenses                   |   |                                                                        | 2,077,197  |   |                             |   | 3,461,037 |   |   |   | (1,383,840 | ) |
| Income from operations                                         |   |                                                                        | 6,653,624  |   |                             |   | 7,092,102 |   |   |   | (438,478 | ) |
|                                                           |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Other income (expense)                                         |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Other income                                                   |   |                                                                        | 3,363      |   |                             |   | 3,363 |   |   |   | - |   |
| Gain/(Loss) on change in fair value of derivative liabilities  |   |                                                                        | 839,553    |   |                             |   | 839,553 |   |   |   | - |   |
| Interest income                                                |   |                                                                        | 16,522     |   |                             |   | 17,081 |   |   |   | (559 | ) |
| Total other income (expense)                                   |   |                                                                        | 859,438    |   |                             |   | 859,997 |   |   |   | (559 | ) |
| Income/(Loss) before income taxes –continuing operations |   |                                                                        | 7,513,062  |   |                             |   | 7,952,099 |   |   |   | (439,036 | ) |
|                                                           |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Provision for income taxes                                     |   |                                                                        | 1,782,484  |   |                             |   | 1,907,900 |   |   |   | (125,416 | ) |
| Net income/(loss)                                              |   | $                                                                           | 5,730,578  |   |                             | $      | 6,044,198 |   |   | $ | (313,620 | ) |
|                                                           |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Comprehensive income/(loss)                                    |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Net income/(loss)                                              |   | $                                                                           | 5,730,578  |   |                             | $      | 6,044,198 |   |   | $ | (313,620 | ) |
| Foreign currency translation adjustments                       |   |                                                                        | 49,825     |   |                             |   | 55,759 |   |   |   | (5,934 | ) |
| Total comprehensive income/(loss)                              |   | $                                                                           | 5,780,403  |   |                             | $      | 6,099,957 |   |   | $ | (319,554 | ) |
|                                                           |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Income (Loss) per common share                                 |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Basic                                                          |   | $                                                                           | 0.33       |   |                             | $      | 0.35 |   |   | $ | (0.02 | ) |
| Diluted                                                        |   | $                                                                           | 0.31       |   |                             | $      | 0.33 |   |   | $ | (0.02 | ) |
|                                                           |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Weighted average common shares outstanding                     |   |                                                                        |       |   |                             |   |   |   |   |   |   |   |
| Basic                                                          |   |                                                                        | 17,404,834 |   |                             |   | 17,404,834 |   |   |   |   |   |
| Diluted                                                        |   |                                                                        | 18,219,639 |   |                             |   | 18,219,639 |   |   |   |   |   |

----

|                                                             |   | For the six months ended June 30, 2010 |       |   | Changes                          |   |
|------------------------------------------------------------------|--------|---------------------------------------------------------------------------|------------|--------|----------------------------------|--------|
|                                                             |   | As restated                                                          |       |   | As previously reported |   |   | Inc/(Dec) |   |
| Gross revenues,                                                  |   | $                                                                         | 52,291,902 |   |                             | $      | 62,871,619 |   |   | $ | (10,579,717 | ) |
| Cost of services                                                 |   |                                                                      | 37,304,787 |   |                             |   | 43,816,506 |   |   |   | (6,511,719 | ) |
| Gross profit                                                     |   |                                                                      | 14,987,115 |   |                             |   | 19,055,113 |   |   |   | (4,067,998 | ) |
| Selling, general and administrative expenses                     |   |                                                                      | 3,643,184  |   |                             |   | 6,524,678 |   |   |   | (2,881,494 | ) |
| Income from operations                                           |   |                                                                      | 11,343,931 |   |                             |   | 12,530,435 |   |   |   | (1,186,504 | ) |
|                                                             |   |                                                                      |       |   |                             |   |   |   |   |   |   |   |
| Other income (expense)                                           |   |                                                                      |       |   |                             |   |   |   |   |   |   |   |
| Other income                                                     |   |                                                                      | 6,917      |   |                             |   | 6,917 |   |   |   | - |   |
| Gains/(losses) on change in fair value of derivative liabilities |   |                                                                      | 949,004    |   |                             |   | 949,004 |   |   |   | - |   |
| Interest income                                                  |   |                                                                      | 38,711     |   |                             |   | 40,712 |   |   |   | (2,001 | ) |
| Total other income (expense)                                     |   |                                                                      | 994,632    |   |                             |   | 996,633 |   |   |   | (2,001 | ) |
| Income before income taxes - continuing operation                |   |                                                                      | 12,338,563 |   |                             |   | 13,527,068 |   |   |   | (1,188,504 | ) |
|                                                             |   |                                                                      |       |   |                             |   |   |   |   |   |   |   |
| Provision for income taxes                                       |   |                                                                      | 3,061,550  |   |                             |   | 3,393,028 |   |   |   | (331,478 | ) |
| Net income                                                       |   | $                                                                         | 9,277,013  |   |                             | $      | 10,134,040 |   |   | $ | (857,027 | ) |
| Comprehensive Income                                             |   |                                                                      |       |   |                             |   |   |   |   |   |   |   |
| Net income                                                       |   | $                                                                         | 9,277,013  |   |                             | $      | 10,134,040 |   |   | $ | (857,027 | ) |
| Foreign currency translation adjustments                         |   |                                                                      | (454,079   | )      |                             |   | (360,699 | ) |   |   | (93,380 | ) |
| Total comprehensive income                                       |   | $                                                                         | 8,822,934  |   |                             | $      | 9,773,341 |   |   | $ | (950,407 | ) |
|                                                             |   |                                                                      |       |   |                             |   |   |   |   |   |   |   |
| Net income per common share - continuing operations              |   |                                                                      |       |   |                             |   |   |   |   |   |   |   |
| Basic                                                            |   | $                                                                         | 0.54       |   |                             | $      | 0.59 |   |   | $ | (0.05 | ) |
| Diluted                                                          |   | $                                                                         | 0.52       |   |                             | $      | 0.57 |   |   | $ | (0.05 | ) |
| Weighted average common shares outstanding                       |   |                                                                      |       |   |                             |   |   |   |   |   |   |   |
| Basic                                                            |   |                                                                      | 17,066,154 |   |                             |   | 17,066,154 |   |   |   | - |   |
| Diluted                                                          |   |                                                                      | 17,935,313 |   |                             |   | 17,935,313 |   |   |   | - |   |

|                                   |   | As of March 31, 2010 |        |   | Changes                          |   |
|----------------------------------------|--------|------------------------------------------|-------------|--------|----------------------------------|--------|
|                                   |   | As restated                         |        |   | As previously reported |   |   | Inc/(Dec) |   |
|                                   |   |                                     |        |   |                             |   |   |   |   |
| Retained earrings                      |   | $                                        | 47,192,264  |   |                             | $      | 48,049,291 |   |   | $ | (857,027 | ) |
| Accumulated other comprehensive income |   |                                     | 1,191,054   |   |                             |   | 1,284,433 |   |   |   | (93,379 | ) |
| Total stock holders' equity            |   | $                                        | 109,082,835 |   |                             | $      | 110,033,241 |   |   | $ | (950,406 | ) |

----

|                                                                             |   | As of June 30, 2010 |        |   | Changes                          |   |
|----------------------------------------------------------------------------------|--------|-----------------------------------------|-------------|--------|----------------------------------|--------|
|                                                                             |   | As restated                        |        |   | As previously reported |   |   | Inc/(Dec) |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                             |   |                                    |        |   |                             |   |   |   |   |
| Net income                                                                       |   | $                                       | 9,277,013   |   |                             | $      | 10,134,040 |   |   | $ | (857,027 | ) |
| Adjustments to reconcile net income to net cash provided by operating activities |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Depreciation and amortization                                                    |   |                                    | 763,707     |   |                             |   | 952,402 |   |   |   | (188,695 | ) |
| Provision for doubtful accounts                                                  |   |                                    | 56,824      |   |                             |   | 56,824 |   |   |   | - |   |
| Stock based compensation                                                         |   |                                    | 677,004     |   |                             |   | 677,004 |   |   |   | - |   |
| Gain on change in fair value of derivative liabilities                           |   |                                    | (949,004    | )      |                             |   | (949,004 | ) |   |   | - |   |
| (Increase) / Decrease in assets:                                                 |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Restricted cash                                                                  |   |                                    | (542        | )      |                             |   | - |   |   |   | (542 | ) |
| Accounts receivable                                                              |   |                                    | (2,068,457  | )      |                             |   | (1,885,976 | ) |   |   | (182,481 | ) |
| Other receivable                                                                 |   |                                    | (726,410    | )      |                             |   | (501,682 | ) |   |   | (224,728 | ) |
| Due from related party                                                           |   |                                    | (6,986,717  | )      |                             |   | (6,986,717 | ) |   |   | - |   |
| Advances                                                                         |   |                                    | 440,063     |   |                             |   | 440,063 |   |   |   | - |   |
| Prepayments                                                                      |   |                                    | (1,676,062  | )      |                             |   | (1,878,178 | ) |   |   | 202,116 |   |
| Trade deposits                                                                   |   |                                    | 2,077,455   |   |                             |   | 2,069,253 |   |   |   | 8,202 |   |
| Increase / (Decrease) in current liabilities:                                    |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Accounts payable and accrued expenses                                            |   |                                    | 3,358,139   |   |                             |   | 3,307,393 |   |   |   | 50,746 |   |
| Customer deposits                                                                |   |                                    | (682,465    | )      |                             |   | (665,925 | ) |   |   | (16,540 | ) |
| Income tax payable                                                               |   |                                    | 49,711      |   |                             |   | (223,354 | ) |   |   | 273,065 |   |
| Net cash provided by operating activities                                        |   |                                    | 3,610,258   |   |                             |   | 4,546,143 |   |   |   | (935,885 | ) |
|                                                                             |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES                                             |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Purchase of property & equipment                                             |   |                                    | (1,864,774  | )      |                             |   | (1,864,774 | ) |   |   | - |   |
| Purchase of intangibles                                                          |   |                                    | (51,359     | )      |                             |   | (51,359 | ) |   |   | - |   |
| Proceeds from collection of notes                                                |   |                                    | 1,484,210   |   |                             |   | 1,484,210 |   |   |   | - |   |
| Acquistion deposits                                                              |   |                                    | 478,391     |   |                             |   | 478,391 |   |   |   | - |   |
| Paid for acquisition – net of cash acquired                                |   |                                    | (15,782,799 | )      |                             |   | (16,085,929 | ) |   |   | 303,130 |   |
| Net cash (used in) provided by investing activities                              |   |                                    | (15,736,331 | )      |                             |   | (16,039,461 | ) |   |   | 303,130 |   |
|                                                                             |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                             |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Proceeds of equity financing                                                     |   |                                    | 18,768,054  |   |                             |   | 18,768,054 |   |   |   | - |   |
| Net cash provided by financing activities                                        |   |                                    | 18,768,054  |   |                             |   | 18,768,054 |   |   |   | - |   |
|                                                                             |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Effect of exchange rate changes on cash and cash equivalents                     |   |                                    | 271,514     |   |                             |   | (360,699 | ) |   |   | 632,213 |   |
|                                                                             |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Net change in cash and cash equivalents                                          |   |                                    | 6,913,495   |   |                             |   | 6,914,037 |   |   |   | (542 | ) |
| Cash and cash equivalents, beginning balance                                     |   |                                    | 36,574,741  |   |                             |   | 36,677,422 |   |   |   | - |   |
| Cash and cash equivalents, ending balance                                        |   | $                                       | 43,488,236  |   |                             | $      | 43,591,459 |   |   | $ | (542 | ) |
|                                                                             |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES:                                                        |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Cash paid during the year for:                                                   |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Income taxes                                                                     |   | $                                       | 2,380,077   |   |                             | $      | 2,984,342 |   |   | $ | (604,265 | ) |
| Other non-cash transactions                                                      |   |                                    |        |   |                             |   |   |   |   |   |   |   |
| Purchased goodwill                                                               |   | $                                       | (14,612,639 | )      |                             | $      | (14,915,770 | ) |   | $ | 303,131 |   |
| Purchased intangible assets                                                      |   |                                    | (3,236,376  | )      |                             |   | (3,236,376 | ) |   |   | - |   |
| Fair value of assets purchased less cash acquired                                |   |                                    | (767,602    | )      |                             |   | (767,601 | ) |   |   | (1 | ) |
| Acquisition financed with stock issuance                                         |   |                                    | 2,833,818   |   |                             |   | 2,833,818 |   |   |   | - |   |
| Acquisition paid for with cash - net of acquired                                 |   | $                                       | (15,782,799 | )      |                             | $      | (16,085,929 | ) |   | $ | 303,130 |   |

----

|                        |   | For the six months ended June 30, |       |
|-----------------------------|--------|-----------------------------------------------------------------|------------|
|                        |   | 2010                                                            |       |   | 2009 |   |
| Revenues                    |   | $                                                               | 65,821,830 |   |   | $ | 52,412,514 |   |
| Income from operations      |   | $                                                               | 12,926,713 |   |   | $ | 11,480,676 |   |
| Net Income                  |   | $                                                               | 10,431,632 |   |   | $ | 2,493,037 |   |
| Net income per common share |   |                                                            |       |   |   |   |   |   |
| Basic                       |   | $                                                               | 0.61       |   |   | $ | 0.18 |   |
| Dilute                      |   | $                                                               | 0.58       |   |   | $ | 0.17 |   |

----

----

|                                                   |   | Three months ended |       |   | Three months ended |   |       | Increase / |   |   |       |   |
|--------------------------------------------------------|--------|------------------------------|------------|--------|------------------------------|--------|------------|-----------------|--------|--------|------------|--------|
|                                                   |   | March 31, 2010     |       |   | March 31, 2009     |   |       | (Decrease)      |   |   | Percentage |   |
|                                                   |   | (Restated)                   |       |   |                         |   |       |            |   |   |       |   |
| Revenues                                               |   | $                            | 31,866,123 |   |                         | $      | 18,232,926 |            |   | $      | 13,633,197 |   |   |   | 74.77 | % |
| Cost of Services                                       |   |                         | 23,135,302 |   |                         |   | 12,342,782 |            |   |   | 10,792,520 |   |   |   | 87.44 | % |
| Gross Profit                                           |   |                         | 8,730,821  |   |                         |   | 5,890,144  |            |   |   | 2,840,677  |   |   |   | 48.23 | % |
| SG&A                                               |   |                         | 2,077,197  |   |                         |   | 925,369    |            |   |   | 1,151,828  |   |   |   | 124.47 | % |
| Income from Operations                                 |   |                         | 6,653,624  |   |                         |   | 4,964,775  |            |   |   | 1,688,849  |   |   |   | 34.02 | % |
| Other income                                           |   |                         | 3,363      |   |                         |   | 2,591      |            |   |   | 772        |   |   |   | 29.80 | % |
| Gain on change in fair value of derivative liabilities |   |                         | 839,553    |   |                         |   | (5,819,481 | )               |   |   | 6,659,034  |   |   |   | -114.43 | % |
| Interest income                                        |   |                         | 16,522     |   |                         |   | 12,358     |            |   |   | 4,164      |   |   |   | 33.69 | % |
| Income before income taxes                             |   |                         | 7,513,062  |   |                         |   | (839,757   | )               |   |   | 8,352,819  |   |   |   | -994.67 | % |
| Provision for income taxes                             |   |                         | 1,782,484  |   |                         |   | 1,020,955  |            |   |   | 761,529    |   |   |   | 74.59 | % |
| Net Income                                             |   | $                            | 5,730,578  |   |                         | $      | (1,860,712 | )               |   | $      | 7,591,290  |   |   |   | -407.98 | % |
|                                                   |   |                         |       |   |                         |   |       |            |   |   |       |   |   |   |   |   |
| Net income (loss) from discontinued operation          |   | $                            | -          |   |                         | $      | (724,313   | )               |   | $      | 724,313    |   |   |   | -100.00 | % |
| Net Income                                             |   | $                            | 5,730,578  |   |                         | $      | (2,585,025 | )               |   | $      | 8,315,603  |   |   |   | -321.68 | % |

----

|                                         |   | Air       |      |   | (%) of |   |   | Hotel       |   |   | (%) of |   |   | Packaged |   |   | (%) of |   |       |   |   |
|----------------------------------------------|--------|-----------|-----------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|----------|--------|--------|-------------|--------|------------|--------|--------|
| Revenue Segment                         |   | Ticketing |      |   | sector      |   |   | Reservation |   |   | sector      |   |   | Tours    |   |   | sector      |   |       | Total  |   |
| Revenue                                      |   | $         | 4,796,513 |   |        |   | 15.05  | %           |   | $      | 3,432,017   |   |   |     | 10.77  | %      |        | $      | 23,637,593 |   |   |   | 74.18 | % |   | $ | 31,866,123 |   |
| Cost of Services                        |   |      | 1,465,419 |   |        |   | 6.33   | %           |   |   | 981,156     |   |   |     | 4.24   | %      |        |   | 20,688,727 |   |   |   | 89.42 | % |   |   | 23,135,302 |   |
| Gross Profit                                 |   | $         | 3,331,094 |   |        |   | 38.15  | %           |   | $      | 2,450,861   |   |   |     | 28.07  | %      |        | $      | 2,948,866  |   |   |   | 33.78 | % |   | $ | 8,730,821 |   |
| Gross Margin                                 |   |      | 69.45     | %      |        |   |   |        |   |   | 71.41       | %      |   |     |   |   |        |   | 12.48      | %      |   |   |   |   |   |   | 27.40 | % |
| Segment effect in Gross Margin (*) |   |      | 10.45     | %      |        |   |   |        |   |   | 7.69        | %      |   |     |   |   |        |   | 9.25       | %      |   |   |   |   |   |   | 27.40 | % |

|                                         |   | Air       |      |   | (%) of |   |   | Hotel       |   |   | (%) of |   |   | Packaged |   |   | (%) of |   |       |   |   |
|----------------------------------------------|--------|-----------|-----------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|----------|--------|--------|-------------|--------|------------|--------|--------|
| Revenue Segment                         |   | Ticketing |      |   | sector      |   |   | Reservation |   |   | sector      |   |   | Tours    |   |   | sector      |   |       | Total  |   |
| Revenue                                      |   | $         | 3,294,514 |   |        |   | 18.07  | %           |   | $      | 2,714,144   |   |   |     | 14.89  | %      |        | $      | 12,224,268 |   |   |   | 67.05 | % |   | $ | 18,232,926 |   |
| Cost of Services                        |   |      | 816,176   |   |        |   | 6.61   | %           |   |   | 910,164     |   |   |     | 7.37   | %      |        |   | 10,616,442 |   |   |   | 86.01 | % |   |   | 12,342,782 |   |
| Gross Profit                                 |   | $         | 2,478,338 |   |        |   | 42.08  | %           |   | $      | 1,803,980   |   |   |     | 30.63  | %      |        | $      | 1,607,826  |   |   |   | 27.30 | % |   | $ | 5,890,144 |   |
| Gross Margin                                 |   |      | 75.23     | %      |        |   |   |        |   |   | 66.47       | %      |   |     |   |   |        |   | 13.15      | %      |   |   |   |   |   |   | 32.30 | % |
| Segment effect in Gross Margin (*) |   |      | 13.59     | %      |        |   |   |        |   |   | 9.89        | %      |   |     |   |   |        |   | 8.82       | %      |   |   |   |   |   |   | 32.30 | % |

----

----

----

|                                      |   | For the three months ended June 30 |      |
|-------------------------------------------|--------|-------------------------------------------------------------|-----------|
|                                      |   | 2010                                                        |      |   | 2009 |   |
|                                      |   |                                                        |      |   |   |   |
| Salary and commission                     |   | $                                                           | 401,699   |   |   | $ | 286,227 |   |
| Marketing                                 |   |                                                        | 103,815   |   |   |   | 508 |   |
| Rent                                      |   |                                                        | 89,759    |   |   |   | 44,151 |   |
| Depreciation and amortization             |   |                                                        | 435,821   |   |   |   | 10,655 |   |
| Professional fees                         |   |                                                        | 394,245   |   |   |   | 85,742 |   |
| Stock-based compensation                  |   |                                                        | 340,372   |   |   |   | 330,724 |   |
| Other general and administrative expenses |   |                                                        | 311,486   |   |   |   | 167,362 |   |
| Total                                     |   | $                                                           | 2,077,197 |   |   | $ | 925,369 |   |

----

|                                                   |   | Six months ended |       |   | Six months ended |   |       | Increase / |   |   |       |   |
|--------------------------------------------------------|--------|----------------------------|------------|--------|----------------------------|--------|------------|-----------------|--------|--------|------------|--------|
|                                                   |   | June 30, 2010    |       |   | March 31, 2009   |   |       | (Decrease)      |   |   | Percentage |   |
|                                                   |   | (Restated)                 |       |   |                       |   |       |            |   |   |       |   |
| Revenues                                               |   | $                          | 52,291,902 |   |                       | $      | 33,654,919 |            |   | $      | 18,636,983 |   |   |   | 55.38 | % |
| Cost of Services                                       |   |                       | 37,304,787 |   |                       |   | 22,648,834 |            |   |   | 14,655,953 |   |   |   | 64.71 | % |
| Gross Profit                                           |   |                       | 14,987,115 |   |                       |   | 11,006,085 |            |   |   | 3,981,030  |   |   |   | 36.17 | % |
| SG&A                                               |   |                       | 3,643,184  |   |                       |   | 1,802,298  |            |   |   | 1,840,886  |   |   |   | 102.14 | % |
| Income from Operations                                 |   |                       | 11,343,931 |   |                       |   | 9,203,787  |            |   |   | 2,140,144  |   |   |   | 23.25 | % |
| Other income                                           |   |                       | 6,917      |   |                       |   | 6,419      |            |   |   | 498        |   |   |   | 7.76 | % |
| Gain on change in fair value of derivative liabilities |   |                       | 949,004    |   |                       |   | (5,706,217 | )               |   |   | 6,655,221  |   |   |   | -116.63 | % |
| Interest income                                        |   |                       | 38,711     |   |                       |   | 23,296     |            |   |   | 15,415     |   |   |   | 66.17 | % |
| Income before income taxes                             |   |                       | 12,338,563 |   |                       |   | 3,527,285  |            |   |   | 8,811,278  |   |   |   | 249.80 | % |
| Provision for income taxes                             |   |                       | 3,061,550  |   |                       |   | 2,138,151  |            |   |   | 923,399    |   |   |   | 43.19 | % |
| Net Income                                             |   | $                          | 9,277,013  |   |                       | $      | 1,389,134  |            |   | $      | 7,887,879  |   |   |   | 567.83 | % |
|                                                   |   |                       |       |   |                       |   |       |            |   |   |       |   |   |   |   |   |
| Net income (loss) from discontinued operation          |   | $                          | -          |   |                       | $      | (592,620   | )               |   | $      | 592,620    |   |   |   | -100.00 | % |
| Net Income                                             |   | $                          | 9,277,013  |   |                       | $      | 796,514    |            |   | $      | 8,480,499  |   |   |   | 1064.70 | % |

|                                         |   | Air       |      |   | (%) of |   |   | Hotel       |   |   | (%) of |   |   | Packaged |   |   | (%) of |   |       |   |   |
|----------------------------------------------|--------|-----------|-----------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|----------|--------|--------|-------------|--------|------------|--------|--------|
| Revenue Segment                         |   | Ticketing |      |   | sector      |   |   | Reservation |   |   | sector      |   |   | Tours    |   |   | sector      |   |       | Total  |   |
| Revenue                                      |   | $         | 8,702,488 |   |        |   | 16.64  | %           |   | $      | 6,462,123   |   |   |     | 12.36  | %      |        | $      | 37,127,291 |   |   |   | 71.00 | % |   | $ | 52,291,902 |   |
| Cost of Services                        |   |      | 2,833,290 |   |        |   | 7.59   | %           |   |   | 1,979,573   |   |   |     | 5.31   | %      |        |   | 32,491,924 |   |   |   | 87.10 | % |   |   | 37,304,787 |   |
| Gross Profit                                 |   | $         | 5,869,198 |   |        |   | 39.16  | %           |   | $      | 4,482,550   |   |   |     | 29.91  | %      |        | $      | 4,635,367  |   |   |   | 30.93 | % |   | $ | 14,987,115 |   |
| Gross Margin                                 |   |      | 67.44     | %      |        |   |   |        |   |   | 69.37       | %      |   |     |   |   |        |   | 12.49      | %      |   |   |   |   |   |   | 28.66 | % |
| Segment effect in Gross Margin (*) |   |      | 11.22     | %      |        |   |   |        |   |   | 8.57        | %      |   |     |   |   |        |   | 8.86       | %      |   |   |   |   |   |   | 28.66 | % |

|                                         |   | Air       |      |   | (%) of |   |   | Hotel       |   |   | (%) of |   |   | Packaged |   |   | (%) of |   |       |   |   |
|----------------------------------------------|--------|-----------|-----------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|----------|--------|--------|-------------|--------|------------|--------|--------|
| Revenue Segment                         |   | Ticketing |      |   | sector      |   |   | Reservation |   |   | sector      |   |   | Tours    |   |   | sector      |   |       | Total  |   |
| Revenue                                      |   | $         | 6,045,642 |   |        |   | 17.96  | %           |   |   | 5,230,975   |   |   |     | 15.54  | %      |        |   | 22,378,302 |   |   |   | 66.49 | % |   |   | 33,654,919 |   |
| Cost of Services                        |   |      | 1,686,164 |   |        |   | 7.44   | %           |   |   | 1,683,627   |   |   |     | 7.43   | %      |        |   | 19,279,043 |   |   |   | 85.12 | % |   |   | 22,648,834 |   |
| Gross Profit                                 |   | $         | 4,359,478 |   |        |   | 39.61  | %           |   |   | 3,547,348   |   |   |     | 32.23  | %      |        |   | 3,099,259  |   |   |   | 28.16 | % |   |   | 11,006,085 |   |
| Gross Margin                                 |   |      | 72.11     | %      |        |   |   |        |   |   | 67.81       | %      |   |     |   |   |        |   | 13.85      | %      |   |   |   |   |   |   | 32.70 | % |
| Segment effect in Gross Margin (*) |   |      | 12.95     | %      |        |   |   |        |   |   | 10.54       | %      |   |     |   |   |        |   | 9.21       | %      |   |   |   |   |   |   | 32.70 | % |

----

----

----

|                                 |   | For the six months ended June 30, |      |
|-------------------------------------------|--------|-----------------------------------------------------------------|-----------|
|                                 |   | 2010                                                            |      |   | 2009 |   |
|                                      |   |                                                            |      |   |   |   |
| Salary and commission                     |   | $                                                               | 717,699   |   |   | $ | 430,967 |   |
| Marketing                                 |   |                                                            | 175,057   |   |   |   | 38,855 |   |
| Rent                                      |   |                                                            | 170,343   |   |   |   | 82,671 |   |
| Depreciation and amortization             |   |                                                            | 668,383   |   |   |   | 19,074 |   |
| Professional fees                         |   |                                                            | 659,250   |   |   |   | 341,676 |   |
| Stock-based compensation                  |   |                                                            | 677,004   |   |   |   | 495,725 |   |
| Other general and administrative expenses |   |                                                            | 575,448   |   |   |   | 393,330 |   |
| Total                                     |   | $                                                               | 3,643,184 |   |   | $ | 1,802,298 |   |

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| Exhibit No.  |   | SEC Ref. No.  |   | Title of Document                                                                                                                       |
|------------------------|--------|------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
|                   |   |                         |   |                                                                                                                                                   |
| 1                      |   | 31.1                         |   | Certification of the Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                                             |
|                   |   |                         |   |                                                                                                                                                   |
| 2.                     |   | 31.2                         |   | Certification of the Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of2002                                              |
|                   |   |                         |   |                                                                                                                                                   |
| 3                      |   | 32.1                         |   | Certification of the Principal Executive Officer pursuant to U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002* |
|                   |   |                         |   |                                                                                                                                                   |
| 4                      |   | 32.2                         |   | Certification of the Principal Financial Officer pursuant to U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002* |

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|   | UNIVERSAL TRAVEL GROUP                 |
|--------|----------------------------------------|
|   |                                   |   |
|   | By:                               | /s/ Jiangping Jiang |
|   | Jiangping Jiang                        |
|   | Chairwoman and Chief Executive Officer |
|   | (Principal Executive Officer)          |

|   | By:                      | / s/ Jing Xie |
|--------|-------------------------------|---------------|
|   | Jing Xie                      |
|   | Chief Financial Officer       |
|   | (Principal Financial Officer) |

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