UNITED STATES
                           SECURITIES AND EXCHANGE COMMISSION
                                 Washington, D.C. 20549

                                       Form 10-KSB
X ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
  OF 1934
                     For the fiscal year ended April 30, 2007

___ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934
                     For the transition period from ____ to ____.

                             SUNBURST ACQUISITIONS V, INC.
                        (Name of small business in its charter)


 Colorado                              0-24483              84-1461844
(State or other jurisdiction     (Commission File Number)  (IRS Employer
of incorporation)                                       Identification Number)





     P.O. Box No. 3831        General Post Office         Hong Kong
           (Address of principal executive offices)  (Zip Code)


Issuer's telephone number, including area code: (852) 9654 4021
Securities to be registered under Section 12(b) of the Act:  None


                            Title of each class

                                    N/A


Securities to be registered under Section 12(g) of the Act:
                       Common Stock, no par value
                            (Title of Class)


Check whether the issuer (1) filed all reports required to be filed by
Section 13 or 15(d) of the Exchange Act during the past 12 months (or for
such shorter period that the registrant was required to file such
reports), and (2) has been subject to such filing requirements for the
past 90 days. [  ] Yes [ x ] No

Check if no disclosure of delinquent filers in response to Item 405 of
Regulation S-B is not contained in this form, and no disclosure will be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form
10-KSB or any amendment to this Form 10-KSB. [X ]


State issuer's revenues for its most recent fiscal year: $ 0.


State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which
the common equity was sold, or the average bid and asked price of such
common equity, as of a specified date within the past 60 days. (See
definition of affiliate in Rule 12b-2 of the Exchange Act.)   $0

Note: If determining whether a person is an affiliate will involve an
unreasonable effort and expense, the issuer may calculate the aggregate
market value of the common equity held by non-affiliates on the basis of
reasonable assumptions, if the assumptions are stated.

(ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Check whether the issuer has filed all documents and reports required to
be filed by Section 12, 13 or 15(d) of the Exchange Act after the
distribution of securities under a plan confirmed by a court. [ ]Yes [X]
No

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)
State the number of shares outstanding of each of the issuer's classes of
common equity, as of the latest practicable date: As of April 30, 2007,
the Company had 2,735,000 shares outstanding.


DOCUMENTS INCORPORATED BY REFERENCE
If the following documents are incorporated by reference, briefly
describe them and identify the part of the Form 10-KSB (e.g., Part I,
Part II, etc.) into which the document is incorporated: (1) any annual
report to security holders; (2) any proxy or information statement; and
(3) any prospectus filed pursuant to Rule 424(b) or (c) of the Securities
Act of 1933 ("Securities Act"). The listed documents should be clearly
described for identification purposes.

Transitional Small Business Disclosure Format (Check one): Yes ____; No
_X__



ITEM 1.        DESCRIPTION OF BUSINESS.

General
The Company was incorporated under the laws of the State of Colorado on
April 30, 1998, and is in the early developmental and promotional
stages. On August 11, 2005 Onping Limited, a British Virgin Islands
Corporation, purchased 2,464,000 or approximately 90% of the issued
and outstanding common stock pursuant to the purchase agreement dated
June 21, 2005.  The shares were purchased from five individuals.  Upon
purchase closing, Jay Lutsky, the Company's sole director and officer,
resigned and Terence Ho, the sole shareholder of Onping LTD., and Vivian
Szeto were appointed Directors of the Company.

The Company's business plan continues to be, to seek, investigate, and, if
warranted, acquire one or more properties or businesses. Such an
acquisition may be made by purchase, merger, exchange of stock, or
otherwise, and may encompass assets or a business entity, such as a
corporation, joint venture, or partnership. The Company has very limited
capital, and it is unlikely that the Company will be able to take
advantage of more than one such business opportunity. The Company intends
to seek opportunities demonstrating the potential of long-term growth as
opposed to short-term earnings.

CURRENT BUSINESS ACTIVITIES
As of the end of its fiscal year April 30, 2007, the Company was inactive,
and has not commenced operations nor has it acquired any
operating business, as contemplated by its original business plan.

It is anticipated that the Company's officer and director will continue
to initiate contacts with securities broker-dealers and other persons
engaged in other aspects of corporate finance to advise them of the
Company's existence and and to determine if the companies or businesses
they represent have an interest in considering a merger or acquisition
with the Company.  No assurance can be given that the Company will be
successful in finding or acquiring a desirable business opoortunity,
given the limited funds that expected to be available for acquisitions,
or that any acquisition that occurs will be on terms that are favorable
to the Company or its stockholders.

No assurance can be given that the Company will be successful in finding
or acquiring a desirable business opportunity, given the limited funds
that are expected to be available for acquisitions. The Company's search
will continue to be directed toward enterprises which have a desire to be
become a public corporation and which have a business plan designed to
allow them to take advantage of opportunities available to public
entities. This includes entities which have been recently organized, with
no operating history, or a history of losses attributable to under-
capitalization or other factors, entities in need of funds to develop a
new product or service or to expand into a new market, entities which
desire to use their securities to make acquisitions, and entities which
have a combination of these characteristics.

In searching for investment opportunities, the Company is not restricted
to any particular geographical area or industry. Therefore, subject to
economic conditions, limitations on its ability to locate available
business opportunities, and other factors, the Company has substantial
discretion in selecting an appropriate business opportunity.

In connection with any acquisition, it is highly likely that an amount of
stock constituting control of the Company would be issued by the Company
or purchased from the Company's current principal shareholders by the
target entity or its controlling shareholders.



Investigation and Selection of Business Opportunities
To a large extent, a decision to participate in a specific business
opportunity may be made upon management's analysis of the quality of the
other company's management and personnel, the anticipated acceptability
of new products or marketing concepts, the merit of technological
changes, and numerous other factors which are difficult, if not
impossible, to analyze through the application of any objective criteria.
In many instances, it is anticipated that the historical operations of a
specific firm may not necessarily be indicative of the potential for the
future because of the possible need to shift marketing approaches
substantially, expand significantly, change product emphasis, change or
substantially augment management, or make other changes.

Because the Company may participate in a business opportunity with a
newly organized firm or with a firm which is entering a new phase of
growth, it should be emphasized that the Company will incur further
risks, because management in many instances will not have proved its
abilities or effectiveness, the eventual market for such company's
products or services will likely not be established, and such company may
not be profitable when acquired.

It is anticipated that the Company will not be able to diversify, but
will essentially be limited to one such venture because of the Company's
limited financing. This lack of diversification will not permit the
Company to offset potential losses from one business opportunity against
profits from another, and should be considered an adverse factor
affecting any decision to purchase the Company's securities.

It is emphasized that management of the Company may effect transactions
having a potentially adverse impact upon the Company's shareholders
pursuant to the authority and discretion of the Company's management to
complete acquisitions without submitting any proposal to the stockholders
for their consideration. Company management does not generally anticipate
that it will provide holders of the Company's securities with financial
statements, or any other documentation, concerning a target company or
its business prior to any merger or acquisition. In some instances,
however, the proposed participation in a business opportunity may be
submitted to the stockholders for their consideration, either voluntarily
by Company management which elects to seek the stockholders' advice and
consent, or because state law so requires.

The analysis of business opportunities will be undertaken by or under the
supervision of the Company's executive officers and directors. Although
there are no current plans to do so, Company management might hire an
outside consultant to assist in the investigation and selection of
business opportunities, and in that event, might pay a finder's fee.
Since Company management has no current plans to use any outside
consultants or advisors to assist in the investigation and selection of
business opportunities, no policies have been adopted regarding use of
such consultants or advisors, the criteria to be used in selecting such
consultants or advisors, the services to be provided, the term of
service, or regarding the total amount of fees that may be paid. However,
because of the limited resources of the Company, it is likely that any
such fee the Company agrees to pay would be paid in stock and not in
cash. Otherwise, the Company anticipates that it will consider, among
other things, the following factors:

(a)        Potential for growth and profitability,
           indicated by new technology, anticipated market expansion,
           or new products;

(b)        Competetive position as compared to other companies of
           similar size and experience within the industry segment
           as well as within the industry as a whole;


(c)        Strength and diversity of existing management,
           or management prospects that are scheduled for
           recruitment;

(d)        Capital requirements and anticipated
           availability of required funds, to be provided from
           operations, through the sale of additional securities,
           through joint ventures or similar arrangements, or from
           other sources;

(e)        The Company's perception of how any particular
           business opportunity will be received by the investment
           community and by the Company's stockholders;

(f)        The availability of audited financial
           statements for the business opportunity; and

(g)        Whether, following the business combination,
           the financial condition of the business opportunity would
           be, or would have a significant prospect in the
           foreseeable future of becoming sufficient to enable the
           securities of the Company to qualify for listing on an
           exchange or on a national automated securities quotation
           system, such as NASDAQ (V) so as topermit the trading of
           such securites to be exempt from the requirements of Rule
           15c2-6 recentlyadopted by the Securities and Exchange
           Commission.  See "Risk Factors-The Company-Regulation of
           Penny Stocks."

(h)        The cost of participation by the Company as compared to
           the perceived tangible and intangible values and potential;

(i)        The extent at which the business can be advanced;

(j)         The accessibility of required management expertise ,
            personnel, raw materials, services, professional assistance
            and other required items;

In regard to criterion g, the current standards for the NASDAQ Small
Cap listing include, among other things, the requirements that the issuer
of the securities that are sought to be listed have stockholders' equity
of at least $5,000,000, or a market capitalization of at least $50,000,000,
or net income in its latest fiscal year of not less than $750,000.  Many,
and perhaps most, of the business opportunities that might be potential
candidates for a combination with the Company would not satisfy the NASDAQ
Small Cap listing criteria.  To the extent that the Company seeks potential
NASDAQ listing, therfore, the range of business opportunities that are
available for evaluation and potential acquisition by the Company would
be significantly limited.




No one of the factors described above will be controlling in the
selection of a business opportunity, and management will attempt to
analyze all factors appropriate to the opportunity and make a
determination based upon reasonable investigative measures and available
data. Potential investors must recognize that, because of the Company's
limited capital available for investigation and management's limited
experience in business analysis, the Company may not discover or
adequately evaluate adverse facts about the opportunity to be acquired.
The Company is unable to predict when it may participate in a business
opportunity and it has not established any deadline for completion of a
transaction. It expects, however, that the process of seeking candidates,
analysis of specific proposals and the selection of a business
opportunity may require several additional months or more.

Prior to making a decision to participate in a business opportunity ,
the Company will generally request that it be provided with written
materials regarding the business opportunity containing such items as
a description of product, service and company history; management
resumes; financial information; available projections, with related
assumptions upon which they are based; an explanation of proprietary
products and services; evidence of existing patents, trademarks, or
services marks, or rights thereto; present and proposed forms of
compensation to management; a description of transactions between such
company and its affiliates during relevant periods; a description of
present and required facilities; an analysis of risks and competitive
conditions; a financial plan of operation and estimated capital
requirements ; audited financial statements or an indication that
audited statements will be available within sixty  (60) days following
completion of a merger transaction; and other information deemed
relevant.

As part of the Company's investigation, the Company's executive officers
and directors may meet personally with management and key personnel,
may visit and inspect material facilites, obtain independent analysis
or verification of certain information provided, check references  of
management and key personnel, and take other reasonable investigative
measures, to the extent of the Company's limited financial resources and
management expertise.

Company management believes that various types of potential merger or
acquisition candidates might find a business combination with the Company
to be attractive. These include acquisition candidates desiring to create
a public market for their shares in order to enhance liquidity for
current shareholders, acquisition candidates which have long-term plans
for raising equity capital through the public sale of securities and
believe that the possible prior existence of a public market for their
securities would be beneficial, and acquisition candidates which plan to
acquire additional assets through issuance of securities rather than for
cash, and believe that the possibility of development of a public market
for their securities will be of assistance in that process. Acquisition
candidates which have a need for an immediate cash infusion are not
likely to find a potential business combination with the Company to be an
attractive alternative.


Form of Acquisition
It is impossible to predict the manner in which the Company may
participate in a business opportunity. Specific business opportunities
will be reviewed as well as the respective needs and desires of the
Company and the promoters of the opportunity and, upon the basis of that
review and the relative negotiating strength of the Company and such
promoters, the legal structure or method deemed by management to be
suitable will be selected. Such structure may include, but is not limited
to leases, purchase and sale agreements, licenses, joint ventures and
other contractual arrangements. The Company may act directly or
indirectly through an interest in a partnership, corporation or other
form of organization. Implementing such structure may require the merger,
consolidation or reorganization of the Company with other corporations or
forms of business organization. In addition, the present management and
stockholders of the Company most likely will not have control of a
majority of the voting shares of the Company following a reorganization
transaction. As part of such a transaction, the Company's directors may
resign and new directors may be appointed without any vote by
stockholders.


It is likely that the Company will acquire its participation in a
business opportunity through the issuance of Common Stock or other
securities of the Company. In order to acquire 80% or more of the
outstanding stock of a business to be acquired, it is likely that
the Company would be required to issue a substantial number of
shares. This could result in substantial additional dilution in the
equity of those who were stockholders of the Company prior to such
reorganization. Any such issuance of additional shares might also be done
simultaneously with a sale or transfer of shares representing a
controlling interest in the Company by the current officers, directors
and principal shareholders. (See "Description of Business - General").

It is anticipated that any securities issued in any reorganization would
be issued in reliance upon exemptions, if any are available, from
registration under applicable federal and state securities laws. In some
circumstances, however, as a negotiated element of the transaction, the
Company may agree to register such securities either at the time the
transaction is consummated, or under certain conditions at specified
times thereafter. The issuance of substantial additional securities and
their potential sale into any trading market that might develop in the
Company's securities may have a depressive effect upon such market.

The Company will participate in a business opportunity only after the
negotiation and execution of a written agreement. Although the terms of
such agreement cannot be predicted, generally such an agreement would
require specific representations and warranties by all of the parties
thereto, specify certain events of default, detail the terms of closing
and the conditions which must be satisfied by each of the parties thereto
prior to such closing, outline the manner of bearing costs if the
transaction is not closed, set forth remedies upon default, and include
miscellaneous other terms.

As a general matter, the Company anticipates that it will enter into
a letter of intent with management, principles or owners of prospective
business opportunity prior to signing a binding agreement.  Such a
letter of intent will set forth the terms of the proposed acquisition
but will not bind either the Company or the business opportunity to
consummate the transaction. Execution of a letter of intent will by no
means indicate that consummation of an acquisition is probable.
Neither the Company nor the business opportunity will be bound to
consummate the acquisition unless and until a definitive agreement
concerning the acquisition as described in the preceding paragraph
is executed.  Even after a definitive agreement is executed, it is
possible that the acquisition would not be consummated should either
party elect to exercise any right provided in the agreement to terminate
it on specified grounds.

It is anticipated that the investigation of specific business opportunities
and the negotiation, drafting and executionof relevant agreements,
disclosure documents and other instruments will require substantial
management time and attention and sugstantial costs for accountants,
attorneys and others.  If a decision is made not to participate in a
specific business opportunity, the costs theretofore incurred in the
related investigation would not be recoverable.  Moreover, because many
providers of goods and services require compensation at the time or
soon after the goods and services are provided, the inability of the
Company to pay until an indeterminate future time may make it impossible
to procure goods and services.


Competition
The Company expects to encounter substantial competition in its efforts
to locate attractive opportunities, primarily from business development
companies, venture capital partnerships and corporations, venture capital
affiliates of large industrial and financial companies, small investment
companies, and wealthy individuals. Many of these entities will have
significantly greater experience, resources and managerial capabilities
than the Company and will therefore be in a better position than the
Company to obtain access to attractive business opportunities. The
Company also will experience competition from other public "blind pool"
companies, many of which may have more funds available than does the
Company.


Administrative Offices
The Company currently maintains a mailing address at P.O.Box No. 3831,
General Post Office, Hong Kong. The Company's telephone number
there is (852) 9654 4021. Other than this mailing address, the Company
does not currently maintain any other office facilities, and does not
anticipate the need for maintaining office facilities at any time in
the foreseeable future. The Company pays no rent or other fees for the
use of this mailing address.


Employees
The Company is a development stage company and currently has no
employees. Management of the Company expects to use consultants,
attorneys and accountants as necessary, and does not anticipate a need to
engage any full-time employees so long as it is seeking and evaluating
business opportunities. The need for employees and their availability
will be addressed in connection with the decision whether or not to
acquire or participate in specific business opportunities. No
remuneration will be paid to the Company's officers except as set forth
under "Executive Compensation" and under "Certain Relationships and
Related Transactions."

CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Except for historical
matters, the matters discussed in this Form 10-KSB are forward-looking
statements based on current expectations, and involve risks and
uncertainties. Forward-looking statements include, but are not limited
to, statements under the following headings:

(i)         "Description of Business - General" - the
             general description of the Company's plan to seek a merger
             or acquisition candidate, and the types of business
             opportunities that may be pursued.

(ii)         "Description of Business - Investigation and
              Selection of Business Opportunities" - the steps which may
              be taken to investigate prospective business
              opportunities, and the factors which may be used in
              selecting a business opportunity.

(iii)         "Description of Business - Form of
               Acquisition" - the manner in which the Company may
               participate in a business acquisition.

The Company wishes to caution the reader that there are many
uncertainties and unknown factors which could affect its ability to carry
out its business plan in the manner described herein.



ITEM 2.         DESCRIPTION OF PROPERTY.
The Company currently maintains a mailing address at P.O.Box No. 3831,
General Post Office, Hong Kong. The Company pays no rent for the use of
this mailing address. The Company does not believe that it will need to
maintain an office at any time in the foreseeable future in order to
carry out its plan of operations described herein. The Company's
telephone number is (852) 9654 4021.



The Company currently has no investments in real estate, real estate
mortgages, or real estate securities, and does not anticipate making any
such investments in the future. However, the policy of the Company with
respect to investment in real estate assets could be changed in the
future without a vote of security holders.


ITEM 3.        LEGAL PROCEEDINGS.
The Company is not a party to any pending legal proceedings, and no such
proceedings are known to be contemplated. No director, officer or
affiliate of the Company, and no owner of record or beneficial owner of
more than five percent (5%) of the securities of the Company, or any
associate of any such director, officer or security holder is a party
adverse to the Company or has a material interest adverse to the Company
in reference to pending litigation.



ITEM 4.        SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
No matters were submitted to a vote of the security holders of the
Company during the fourth quarter of the fiscal year which ended
April 30, 2007.


PART II


ITEM 5.         MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
The Company's securities are currently held of record by a total of
approximately 116 persons.

No dividends have been declared or paid on the Company's securities, and
it is not anticipated that any dividends will be declared or paid in the
foreseeable future.


ITEM 6.         MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
Certain statements in this report, including statements in the following
discussion which are not statements of historical fact, are what are
known as "forward looking statements," which are basically statements
about the future. For that reason, these statements involve risk and
uncertainty since no one can accurately predict the future. Words such as
"plans," "intends," "will," "hopes," "seeks," "anticipates," "expects
"and the like often identify such forward looking statements, but are not
the only indication that a statement is a forward-looking statement. Such
forward looking statements include statements concerning our plans and
objectives with respect to the present and future operations of the
Company, and statements which express or imply that such present and
future operations will or may produce revenues, income or profits.
Numerous factors and future events could cause the Company to change such
plans and objectives or fail to successfully implement such plans or
achieve such objectives, or cause such present and future operations to
fail to produce revenues, income or profits. Therefore, the reader is
advised that the following discussion should be considered in light of
the discussion of risks and other factors contained in this report on
Form 10KSB and in the Company's other filings with the Securities and
Exchange Commission. No statements contained in the following discussion
should be construed as a guarantee or assurance of future performance or
future results.

Liquidity and Capital Resources
As of April 30, 2007 the Company remains in the development stage. For
the fiscal year ended April 30, 2007 the Company's balance sheet reflects
current asset and total assets of $234,and total current liabilities  of
$24,997, representing accounts payable for professional services, in
addition to accounts payable to management for reimbursement of ongoing
operating costs, including the cost of compliance with securities
regulations.

Results of Operations

At the time of its incorporation, the Company received cash proceeds of
$10,000 from the sale of shares, and also issued shares for services
valued at $1,935.  It has subsequently received additional cash
investments from its former shareholders totalling $9,900.  In addition,
$4,897 of related party debt was converted to equity, and for financial
statement purposes, the Company has accrued a total of $4,350 as additional
paid-in capital representing the value of office space use provided to the
Company at no charge by its former director.

During the period from inception to April 30, 2007, the Company has
engaged in no significant operations other than organizational
activities, acquisition of capital, preparation and filing of the
registration of its securities under the Securities Exchange Act of 1934,
as amended, compliance with its periodical reporting requirements, and
efforts to locate a suitable merger or acquisition candidate. No revenues
were received by the Company during this period.  In August 2005,
approximately 90% of the Company's common shares were sold by the
original founding shareholders, resulting in a change in control
of the Company.  At the time of the change of control, the Company's
current management resigned, to be replaced by management appointed
by the new controlling shareholder.

For the fiscal year ending April 30, 2007, the Company anticipates
incurring a loss as a result of expenses associated with compliance
with the reporting requirements of the Securities Exchange Act of 1934,
and expenses associated with locating and evaluating acquisition candidates.
The Company anticipates that until a business combination is completed
with an acquisition candidate, it will not generate revenues.  It may also
continue to operate at a loss after completing a business combination,
depending upon the performance of the acquired business.


Plan of Operations
For the fiscal year ending April 30, 2007 the Company's plan of
operations is to continue seek, investigate, and, if warranted,
acquire one or more properties or businesses.

From the date of filing of its registration statement under the
Securities Exchange Act of 1934 (June 17, 1998) until the end of the
second quarter of its April 2002 fiscal year, the Company filed all
required periodic reports under the Securities Exchange Act of 1934.
After completing the filing of the report on Form 10QSB for the period
ended October 31, 2001, the Company ceased filing reports in order to
avoid incurring additional legal and accounting expenses.

After the second quarter of its April 2002 fiscal year, the Company
remained dormant for the remainder of 2002, 2003, 2004, 2005, 2006 and 2007
fiscal years.  The Company incurred only minimal expenses for legal
and accounting fees as well as state registration fees during the
period it remained dormant. In June 2005 the Company began to take
steps (starting with April 2002 10-K) to file all delinquent reports
and to once again become current in its compliance with the Securities
and Exchange Act of 1934. Accumulated legal and professional fees
attributable to the catch-up filings with the Securities and Exchange
Commission were paid by the Company's former president in June 2005 in the
approximate amount of $10,000.  The balance of these payments, net of
a cash reimbursement of $1,157, was subsequently contributed to capital
by the Company's former president.


Need for Additional Financing
In order to proceed with its plans for next year the Company will
require additional capital in order to meet its cash needs.  These
include rent and administrative expenses along with any costs the
Company may incur in seeking a business opportunity.

No specific commitments to provide additional funds have been made by
management or other stockholders, and the Company has no current plans,
proposals, arrangements or understandings with respect to the sale or
issuance of additional securities prior to the location of a merger or
acquisition candidate.  Accourdingly, there can be no assurance that
any additional funds will be available to the Company to allow it to
cover its expenses.  Notwithstanding the foregoing, to the extent that
additional funds are required, the Company anticipates receiving such
funds in the form of advancements from current shareholders without
issuance of additional shares or other securiies, or through the
private placement of resticted secrities rather than through a public
offering.

The Company may also seek to compensate providers of services by
issuances of stock in lieu of cash. For information as to the Company's
policy in regard to payment for consulting services, see "Certain
Relationships and Transactions."


ITEM 7.        FINANCIAL STATEMENTS.
See the following pages.




SUNBURST ACQUISITIONS V, INC.
(A Development Stage Company)
Report of Independent Registered Public Accounting Firm       F-1
Balance Sheet                                                 F-2
Statements of Operations                                      F-3
Statement of Stockholders' Equity (Deficit)                   F-4
Statement of Stockholders' Equity (Deficit)                   F-5
Statements of Cash Flows                                      F-6
Notes to Financial Statements                                 F-7



<Letterhead of Independent Registered Public Accounting Firm>

                                      (Insert Header)


      Report of Independent Registered Public Accounting Firm

(Insert report)

Insert signature and date






                                     F-1



                         Sunburst Acquisitions V, Inc.
                        (A Development Stage Company)
                                 BALANCE SHEET
                                April 31, 2007

<TABLE>
<S>                                                 <C>               <C>
                                                    Year Ended        Prior Year Ended
                                                    April 30, 2007    April 30, 2006

ASSETS

CURRENT ASSETS
Cash and cash equivalents                            $         -        $       -
Prepaid Expenses			  	             234	        -

                                                       ---------        ---------
Total current assets                                         234                -
                                                       ---------        ---------


TOTAL ASSETS                                          $      234        $       -
                                                       =========        =========


LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES
Accounts payable                                           4,414            1,628
Accounts payable - related party                          20,583           13,786
                                                       ---------        ---------
Total current liabilities                                 24,997           15,414

STOCKHOLDERS' DEFICIT
Preferred stock, no par value; 20,000,000 shares
authorized; No shares issued and outstanding                   -                -
Common stock, no par value; 100,000,000
shares authorized; 2,735,000 shares issued and
outstanding                                               12,535           12,535
Additional paid-in capital                                19,147           19,147
Deficit accumulated during the development stage         (56,445)         (47,096)
                                                       ---------        ---------
Total stockholders' deficit                              (24,763)         (15,414)

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT           $      234        $       -
                                                       =========         =========

</table>
The accompanying notes are an integral part of the financial statements.
                                      F-2



                       Sunburst Acquisitions V, Inc.
                        (A Development Stage Company)
                          STATEMENTS OF OPERATIONS

<table>

                               <c>               <c>           <c>
                                  For the period
                                  from inception    For the year  For the year
                                  (April 30, 1998)  ended         ended
                                  To April 30       April 30,     April 30,
                                  2007              2007          2006

REVENUES                                  $     -        $      -      $      -

EXPENSES
Amortization                                  300               -             -
Bank Fees                                      34               -             -
Consulting Fees                             2,535               -           600
General Office                                644               -             -
Interest Expense			    1,525           1,525	      -
Legal Fees                                 10,733             111         2,760
Professional Fees                          28,030           6,639        11,265
Rent                                        4,350               -           150
Transfer agent                              8,294           1,074            15
                                        ---------          ------         -----
Total expenses                             56,445           9,349        14,790
                                        ---------       ---------      --------
NET LOSS                                  (56,445)         (9,349)      (14,790)


NET LOSS PER SHARE                       $   (NIL)          $ (NIL)      $ (NIL)
                                        =========       ==========    =========

WEIGHTED AVERAGE
NUMBER OF
SHARES OF COMMON
STOCK
AND COMMON STOCK
EQUIVALENTS
OUTSTANDING                             2,214,708        2,735,000    2,651,164
                                        =========       ==========    =========


</table>
The accompanying notes are an integral part of the financial statements.
                                      F-3


                       Sunburst Acquisitions V, Inc.
                       (A Development Stage Company)
                STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)

<TABLE>
<S>                           <c>         <c>         <c>         <c>         <c>         <c>           <c>
                                                                                           Deficit       Total
                                  Preferred stock       Common stock                       accumulated   stock-
                                 ------------------    ------------------      Additional  during the    holders
                               Number of              Number of                paid-in     developments  equity
                               shares        Amount   shares        Amount     capital     stage         (deficit)
                              ----------   --------   ----------   --------   -----------  ------------  ------

Preferred stock issued for
   cash, April 30, 1998 at $0.10
   per share                     100,000  $  10,000            -         -              -             -  $10,000

Common stock issued for services,
   April 30, 1998, at $0.001
   per share                           -          -    1,935,000     1,935              -             -    1,935

Net loss for the period ended
   April 30, 1998                      -          -            -         -              -       (1,935)   (1,935)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, April 30, 1998          100,000     10,000    1,935,000     1,935              -       (1,935)   10,000

Rent at No Charge                      -          -            -                      600             -      600

Net loss for the year ended
   April 30, 1999                      -          -            -         -              -       (7,461)   (7,461)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, April 30, 1999         100,000      10,000    1,935,000     1,935            600       (9,396)    3,139

Rent at no charge                      -          -            -         -            600             -      600

Contribution by Stockholder            -          -            -         -          3,400             -    3,400

Conversion of Preferred Stock   (100,000)   (10,000)     200,000    10,000              -             -        -

Net loss for the year ended
   April 30, 2000                      -          -            -         -              -       (5,262)   (5,262)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, April 30, 2000                -          -    2,135,000    11,935          4,600      (14,658)    1,877

Rent at no charge                      -          -            -         -            600             -      600

Contribution by Stockholder            -          -            -         -          2,500             -    2,500

Net loss for the year ended
   April 30, 2001                      -          -            -         -              -       (5,298)   (5,298)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, August 31, 2001               -          -    2,135,000    11,935          7,700      (19,956)     (321)

Rent at no charge                      -          -            -         -            600             -      600

Net loss for the year ended
   April 30, 2002                      -          -            -         -              -       (6,650)   (6,650)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, April 30, 2002                                2,135,000    11,935          8,300      (26,606)   (6,371)

Rent at no charge                      -          -            -         -            600             -      600

Net loss for the year ended
   April 30, 2003                      -          -            -         -              -       (1,850)   (1,850)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, April 30, 2003                                2,135,000    11,935          8,900      (28,456)   (7,621)

Rent at no charge                      -          -            -         -            600             -      600

Net loss for the year ended
   April 30, 2004                      -          -            -         -              -       (1,850)   (1,850)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, April 30, 2004                                2,135,000    11,935          9,500      (30,306)   (8,871)

Rent at no charge                      -          -            -         -            600             -      600

Net loss for the year ended
   April 30, 2005                      -          -            -         -              -       (2,000)   (2,000)
                                --------   --------    ---------   -------      ---------     --------   -------

Balance, April 30, 2005                                2,135,000    11,935         10,100      (32,306)  (10,271)

Rent at no charge                      -          -            -         -            150            -       150

Accounts Payable - Related Party       -          -            -         -          4,897            -     4,897
   Converted to Paid in Capital

Contribution by Stockholder            -          -            -         -          4,000            -     4,000

Common Stock Issued for Services
   June 2005, $0.001 Per Share         -          -      600,000       600              -            -       600

Net Loss, April 30, 2006               -          -            -         -              -      (14,790)  (14,790)
                                --------   --------    ---------   -------      ---------     --------   -------
Balance, April 30, 2006                -          -    2,735,000    12,535      $  19,147     $(47,096) $(15,414)

Net Loss, April 30, 2007               -          -            -         -              -       (7,824)   (7,824)
                                --------   --------    ---------   -------      ---------     --------   -------
Balance, April 30, 2007                -   $      -    2,735,000   $12,535      $  19,147     $(54,920) $(23,238)
                                ========   ========    =========   =======      =========     ========   =======







</table>
 The accompanying notes are an integral part of the financial statements.
                                      F-4



                        Sunburst Acquisitions V, Inc.
                        (A Development Stage Company)
                          STATEMENTS OF CASH FLOWS

<table>

                               <c>               <c>           <c>
                                  For the period
                                  from inception    For the year  For the year
                                  (April 30, 1998)  ended         ended
                                  To April 30       April 30,     April 30,
                                  2007              2007          2006
CASH FLOWS FROM OPERATING
ACTIVITIES
Net loss                          $    (56,445)       $  (9,349)      $ (14,790)
Adjustments to reconcile
net loss to net cash flows
from operating activities:
  Amortization                             300                -               -
  Rent expense                           4,350                -             150
  Increase in prepaid expense             (234)            (234)              -
  Increase in interest expense           1,525		  1,525
  Stock issued for consulting fees       2,535                -             600
  Decrease in accounts payable           4,414            2,786         (3,856)
  Increase in A/P Related Party         23,955            5,272          12,628
                                    ----------         --------          -------
Net cash flows from operating
activities                             (19,600)               -         (5,268)

CASH FLOWS FROM INVESTING
ACTIVITIES
Increase in organization costs            (300)               -               -
                                    ----------         --------          ------
Net cash flows from investing
activities                                (300)               -               -

CASH FLOWS FROM FINANCING
ACTIVITIES
Issuance of preferred stock             10,000                -               -
Cash contributed by shareholder          9,900                -           4,000
                                    ----------         --------          ------
Net cash flows from financing
activities                              19,900                -               -
                                    ----------         --------          ------
NET DECREASE IN CASH
AND CASH EQUIVALENTS                         -                -         (1,268)

CASH AND CASH EQUIVALENTS,
BEGINNING OF PERIOD                          -                -           1,268
                                    ----------         --------          ------
CASH AND CASH EQUIVALENTS,
END OF PERIOD                      $         -         $      -          $    -
                                     =========         ========         =======


Supplemental disclosures of cash flow information:
  Interest paid                    $         -         $      -         $     -
                                     =========         ========         =======
  Income taxes paid                $         -         $      -         $     -
                                     =========         ========         =======





</table>
The accompanying notes are an integral part of the financial statements.
                                      F-5


                       Sunburst Acquisitions V, Inc.
                        (A Development Stage Company)
                        NOTES TO FINANCIAL STATEMENTS
                              April 30, 2007

1.        Summary of Significant Accounting Policies
Development Stage Company
Sunburst Acquisitions V, Inc. (a development stage company) (the
"Company") was incorporated under the laws of the State of Colorado on
April 30, 1998. The current principal office of the corporation is
P.O.Box No. 3831, General Post Office, Hong Kong.

On August 11, 2005, Onping Limited, a British Virgin Islands
Corporation, purchased 2,464,000 shares, or approximately 90% of the
Company's issued and outstanding common stock pursuant to a Stock
Purchase Agreement dated June 21, 2005.  The shares were purchased
from five individuals.  Upon purchase closing, Jay Lutsky, the
Company's sole director and officer, resigned and Terrence Ho, the
sole shareholder of Onping LTD., and Vivian Szeto were appointed
Directors of the Company.

Accounting Method
The Company records income and expenses on the accrual method.

Loss per Share
Loss per share was computed using the weighted average number of shares
of common stock outstanding during the period.

Organization Costs
Costs to incorporate the Company were originally capitalized to be
amortized over a sixty-month period. With the adoption of SOP 98-5,
these costs were written off to operations.

Financial Instruments
Unless otherwise indicated, the fair value of all reported assets and
liabilities which represents financial instruments (none of which are
held for trading purposes) approximate the carrying values of such
amounts.

Statements of Cash Flows
For purposes of the statements of cash flows, the Company considers all
highly liquid debt instruments purchased with an original maturity of
three months or less to be cash equivalents.

Use of Estimates
The preparation of the Company's financial statements in conformity with
generally accepted accounting principles requires the Company's
management to make estimates and assumptions that effect the amounts
reported in these financial statements and accompanying notes. Actual
results could differ from those estimates.

Consideration of Other Comprehensive Income Items
SFAF 130 - Reporting Comprehensive Income, requires companies to present
comprehensive income (consisting primarily of net income plus other
direct equity changes and credits) and its components as part of the
basic financial statements. For the year ended April 30, 2007 the
Company's financial statements do not contain any changes in equity that
are required to be reported separately in comprehensive income.

Stock Basis
Shares of common stock issued for other than cash have been assigned
amounts equivalent to the fair value of the service or assets received in
exchange.


2.        Stockholders' Equity
On August 11, 2005, Onping Limited, a British Virgin Islands corporation,
purchased 2,464,000 shares, or approximately 90% of the Company's issued
and outstanding common stock pursuant to a stock Purchase Agreement dated
June 21, 2005.  The shares were purchased from five individuals.

As of April 30, 2006, 2,735,000 shares of the Company's no par value
common stock had been issued. Of these, 2,535,000 had been issued for
consulting services provided.  The services were valued and recorded
at $0.001 per share.  The remaining 200,000 shares were from the
conversion of 100,000 shares of the Company's Series A preferred stock.

Prior to April 26, 2000, 100,000 shares of the Company's no par value
Series A preferred stock had been issued at $0.10 per share.

On April 26, 2000, the holders of the Company's preferred stock agreed
to convert all 100,000 preferred shares to common shares.  Each preferred
share was converted to two common shares.

The board of directors shall have the authority to authorize additional
Series of preferred shares whose terms may differ from those of previous
Series.  The effective of these terms may be dilutive on the Company's
common stock.

3.        Related Party Transactions
As of the date hereof, Terrence Ho is the sole officer and director of
the Company, and through his affiliation with Onping Limited, controls
2,464,000 shares of common stock, constituting approximately 90% of the
Company's issued and outstanding shares.  He is providing office space
at no charge to the Company.

The current officer and director of the Company paid certain bills on
behalf of the Company.  Therefore, the Company owes him approximately
$20,582 with $1,525 of that amount being interest.  Interest is being
accrued on an imputed basis at 8% per year starting on May 1, 2006 as
the Company has no intent at this time of settling this debt.
Also the sole officer and director of the Comapany contributed $4,000
to paid-in-capital.


4.        Income Taxes
The Company has Federal net operating loss carryforwards of approximately
$56,445 expiring during the years 2023 and 2027. The tax benefit of
these net operating losses is approximately $10,600 and has been offset
by a full allowance for realization. This carryforward may be limited
upon the consummation of a business combination under IRC Section 381.
For the year ended April 30, 2007, the valuation allowance increased by
approximately $1,400.

5.        Statement of Cash Flows

	   Current Loan - Related Party             $20,582
	   Accounts Payable - Related Party
		Converted to Paid in Capital          4,897
 	   Net Change in Accounts Payable -         -------
	   	Related Party                       $23,955
                                                    =======

6.         Going Concern
The accompanying financial statements have been prepared assuming that the
company will continue as a going concern. The company has had recurring
operating losses for the past several years and is dependent upon financing
to continue operations. The financial statements do not include any
adjustments that might result from the outcome of this uncertainty. It is
management's plan to find an operating company to merge with, thus creating
necessary operating revenue.


ITEM 8.         CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
		      ACCOUNTING AND FINANCIAL DISCLOSURE.

Item 4.01   Change in Registrant's Certifying Accountant

      Effective March 14, 2007 the Company dismissed Larry O'Donnell, CPA, P.C.
("O'Donnell"). O'Donnell audited the Company's financial statements for the
fiscal years ended April 30, 2005 and 2006. During the Company's two most
recent fiscal years and subsequent interim period ended March 14, 2007, there
were no disagreements with O'Donnell on any matter of accounting principles
or practices, financial statement disclosure or auditing scope or procedures,
which disagreements, if not resolved to the satisfaction of O'Donnell would
have caused it to make reference to such disagreements in its reports.
O'Donnell's audit report on the financial statements of the Company for the
fiscal years ended April 30, 2005 and 2006 contained no adverse opinion or
disclaimer of opinion, nor was it qualified or modified as to uncertainty,
audit scope or accounting principles.


       The Company provided Larry O'Donnell, CPA, P.C. with a copy of this
       disclosure on Form 8-K prior to filing it with the SEC, and requested
       that O'Donnell furnish the Company with a letter addressed to the SEC
       stating whether it agrees with the statements made in this disclosure,
       and if not, stating the aspects with which it does not agree. A copy of
       the letter provided by O'Donnell, dated July 6, 2007, is attached to
       this Form 8-K as an exhibit.

       On March 14, 2007, the Company engaged Malone & Bailey P.C.
       ("Malone & Bailey") as its independent registered public accounting
       firm. The change in the Company's auditors was recommended and
       approved by the directors of the Company. The Company does not have
       an audit committee.

      During the two most recent fiscal years and subsequent interim period
ended March 14, 2007, the Company did not consult with Malone & Bailey
regarding the application of accounting principles to a specified transaction,
either completed or proposed, or the type of audit opinion that might be
rendered on the Company's financial statements, or any matter that was the
subject of a disagreement or a reportable event as defined in the regulations
of the Securities and Exchange Commission.


ITEM 8A.         CONTROLS AND PROCEDURES.
The Securities and Exchange Commission defines the term disclosure
controls and procedures to mean a company's controls and other procedures
that are designed to ensure that information required to be disclosed in
the reports that it files or submits under the Securities Exchange Act of
1934 is recorded, processed, summarized and reported, within the time
periods specified in the Securities and Exchange Commissions rules and
forms. The Company maintains such a system of controls and procedures in
an effort to ensure that all information which it is required to disclose
in the reports it files under the Securities Exchange Act of 1934 is
recorded, processed, summarized and reported within the time periods
specified under the SEC's rules and forms.

The issuer is not an operating entity.  Its sole asset is cash and cash
equivalents in an account at a major banking institution.  Our controls
and procedures provide reasonable assurance as to the reliability of the
financial statements and other disclosure included in this report, as well
as safeguard its cash assets from unauthorized use or disposition.

Based on an evaluation performed, the Company's certifying officers have
concluded that the disclosure controls and procedures were effective.

There was no change in the Company's internal control over financial
reporting during the fiscal year ended April 30, 2007, that has
materially affected, or is reasonably likely to materially affect, the
Company's internal control over financial reporting.







PART III

ITEM 9.         DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT.

The sole director and executive officer currently serving the Company is as
follows:

Name                Age    Positions Held and Tenure

Terence Ho           -     President and a Director since August 2005

Terence Ho was appointed as a director of Sunburst Acquisitions V, Inc. on
August 11, 2005.  Mr. Ho will serve until an annual meeting of the Company's
shareholders and his successor is elected and qualified.  Thereafter,
directors will be elected for one-year term at the annual shareholders
meeting.  Officers will hold their positions at the pleasure of the board
of directors, absent any employment agreement.

Biographical Information
Mr. Ho obtained his bachelors degree in Arts from the University of Winnipeg
in Canada and later obtained a Diploma in business management from the
Chinese University in Hong Kong. Mr. Ho is primarily responsible for the
Company's overall strategic planning, formulation of corporate policies and
marketing management. Mr. Ho has over 20 years of experience in corporate
development, management as well as sales and marketing in the finance and
information technology industry.


Audit Committee.
As of the date of this Annual Report, we have not appointed members to an
audit committee and, therefore, the respective role of an audit committee
has been conducted by our Board of Directors. When established, the audit
committee's primary function will be to provide advice with respect to
our financial matters and to assist the Board of Directors in fulfilling
oversight responsibilities regarding finance, accounting, tax and legal
compliance. The audit committee''s primary duties and responsibilities
will be to: (i) serve as an independent and objective party to monitor
our financial reporting process and internal control system; (ii) review
and appraise the audit efforts of our independent accountants; (iii)
evaluate our quarterly financial performance as well as compliance with
laws and regulations; (iv) oversee management''s establishment and
enforcement of financial policies and business practices; and (v) provide
and open avenue of communication among the independent accountants,
management and the board of directors.

Our Board of Directors has considered whether the regulatory provision of
non-audit service is compatible with maintaining the principal
independent accountant's independence.

Code of Ethics
The Company has not yet adopted a code of ethics which applies to the
chief executive officer, or principal financial and accounting officer or
controller, or persons performing similar functions. The Company is a
"blind pool" or "blank check" company whose shares are not yet trading.
Compliance With Section 16(a) of the Exchange Act.

The Company's officer and director plans to file an Annual Statement of
Changes in Beneficial Ownership.


ITEM 10.         EXECUTIVE COMPENSATION.
No officer or director received any remuneration from the Company during
the fiscal year. Until the Company acquires additional capital, it is not
intended that any officer or director will receive compensation from the
Company other than reimbursement for out-of-pocket expenses incurred on
behalf of the Company. See "Certain Relationships and Related
Transactions." The Company has no stock option, retirement, pension, or
profit-sharing programs for the benefit of directors, officers or other
employees, but the Board of Directors may recommend adoption of one or
more such programs in the future.


ITEM 11.         SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
MANAGEMENT AND RELATED STOCKHOLDER MATTERS.
The following table sets forth, as of the end of the Company's fiscal
year ended April 30, 2007, the number of shares of Common Stock owned of
record and beneficially by executive officers, directors and persons who
hold 5.0% or more of the outstanding Common Stock of the Company. Also
included are the shares held by all executive officers and directors as a
group.

Name and Address                 Number of Shares Owned   Percent of Class
                                 Beneficially             Owned
(1) Terence Ho
665 King's Road
North Point, Hong Kong            2,464,000                   90.10%


(1) The person listed is an officer, a director, or both, of the Company.


ITEM 12.        CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
No officer, director, promoter, affiliate or beneficial owner of the
Company has, has had, or proposes to have, any direct or indirect
material interest in any asset proposed to be acquired by the Company
through security holdings, contracts, options, or otherwise.
The Company has adopted a policy under which any consulting or finder's
fee that may be paid to a third party for consulting services to assist
management in evaluating a prospective business opportunity would be paid
in stock rather than in cash. Any such issuance of stock would be made on
an ad hoc basis. Accordingly, the Company is unable to predict whether,
or in what amount, such stock issuance might be made.

It is not currently anticipated that any salary, consulting fee, or
finder's fee shall be paid to any of the Company's directors or executive
officers, or to any other affiliate of the Company except as described
under "Executive Compensation" above.

Although management has no current plans to cause the Company to do so,
it is possible that the Company may enter into an agreement with an
acquisition candidate requiring the sale of all or a portion of the
Common Stock held by the Company's current stockholders to the
acquisition candidate or principals thereof, or to other individual or
business entities, or requiring some other form of payment to the
Company's current stockholders, or requiring the future employment of
specified officers and payment of salaries to them. It is more likely
than not that any sale of securities by the Company's current
stockholders to an acquisition candidate would be at a price
substantially higher than that originally paid by such stockholders. Any
payment to current stockholders in the context of an acquisition
involving the Company would be determined entirely by the largely
unforeseeable terms of a future agreement with an unidentified business
entity.


ITEM 13.        EXHIBITS AND REPORTS ON FORM 8-K.

(a)        The Exhibits listed below are filed as part of
           this Annual Report.

           3.1        Articles of Incorporation (incorporated by
                      reference from Registration Statement on Form 10-SB filed
                      with the Securities and Exchange Commission on June 17,
                      1998).

           3.2        Bylaws (incorporated by reference from
                      Registration Statement on Form 10-SB filed with the
                      Securities and Exchange Commission on June 17, 1998).

          31.1        Certification pursuant to Rule 13a-14(a) or
                      15d-14(a) under the Securities Exchange Act of 1934, as
                      amended.

          32.1        Certification pursuant to 18 U.S.C. Section
                      1350, as adopted pursuant to Section 906 of the Sarbanes-
                      Oxley Act of 2003.


(b)        No reports on Form 8-K were filed by the
           Company during the last quarter of its fiscal year ending
           April 30, 2007.


ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
Audit Fees
The aggregate audit and audit related fees billed by Malone and Bailey,
P.C. for audit of the Company's annual financial statements and for
review of the Company's quarterly financial statements filed on Form 10-
QSB were $ 3,500 during the fiscal years ended April 30, 2007 and 2006.

Tax Fees
The aggregate fees billed by Malone and Bailey, P.C. for tax
compliance, advice and planning were $ 0 for the fiscal year ended April
30, 2007 and 2006.

All Other Fees
Malone and Bailey, P.C. did not bill the Company for any products and
services other than the foregoing during the fiscal years ended April 30,
2007 and 2006.



SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



SUNBURST ACQUISITIONS V, INC.


By: /S/ Terence Ho
Terence Ho (Principal Executive Officer and Director)
Date: June 20, 2007