UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q





(Mark
One)


x
            QUARTERLY
      REPORT PURSUANT TO SECTION 13 OR
15(d)


OF
      THE SECURITIES EXCHANGE ACT OF 1934


For the Quarterly Period Ended June
30, 2010


OR


o
            TRANSITION
      REPORT PURSUANT TO SECTION 13 OR
15(d)


OF
      THE SECURITIES EXCHANGE ACT OF 1934


For the Transition Period
from   to





(Commission
File Number) 000-51761




IDCENTRIX,
INC.


(Exact
Name of Registrant As Specified in Its Charter)





Nevada
            
            20-4650531(State
      or Other Jurisdiction of
              Incorporation)
            
            (IRS
      Employer
              Identification
      No.)




LongSheng
Village, Tangshan Town, Zhengan District


Dandong
City, Liaoning, P.R.China


(Address
of Principal Executive Offices)




Not
Applicable


(Zip
Code)





86-0415-8176321


(Registrant’s
Telephone Number, Including Area Code)




Rm
1903, 19/F, Hing Yip COMM Centre,


No.
272 Des Voeux Rd, Central, Hong Kong


(Former
Name, Former Address and Former Fiscal Year, if Changed Since Last
Report)




Indicate
by check mark whether the registrant (1) has filed all reports required to be
filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the
preceding 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
at least the past 90 days. Yes x No  ̈





Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Web site, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this
chapter) during the preceding 12 months (or for such shorter that the registrant
was required to submit and post such files). Yes  ̈ No  ̈





Indicate
by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of “large accelerated filer,” “accelerated filer” and “smaller
reporting company” in Rule 12b-2 of the Exchange Act. (Check one):





Large
      accelerated filer o
            Accelerated
      filer oNon-accelerated
      filer o
            Smaller
      reporting company x





Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes  ̈ No x





The
number of shares of common stock, par value $0.001 per share, outstanding as of
August 19, 2010 was 50,000,139.





IDCENTRIX,
INC.


FORM 10-Q


Quarterly
Period Ended June 30, 2010





INDEX


PagePART
      I. FINANCIAL INFORMATIONItem
      1.
              Financial
      Statements
              1Consolidated
      Balance Sheets as of June 30, 2010 and December 31, 2009
              2Consolidated
      Statements of Operations for Three and Six Months ended June 30, 2010 and
      2000
              3Consolidated
      Statements of Cash Flows for the Three and Six Months ended June 30, 2010
      and 2009
              4Notes
      to the Consolidated Financial Statements
              5Item
      2.
              Management’s
      Discussion and Analysis of Financial Condition and Results of
      Operations
              13Item
      3.
              Quantitative
      and Qualitative Disclosures About Market Risk.
              21Item
      4.
              Controls
      and Procedures
              21PART
      II. OTHER INFORMATIONItem
      1.
              Legal
      Proceedings
              22Item
      1A.
              Risk
      Factors
              22Item
      2.
              Unregistered
      Sales of Equity Securities and Use of Proceeds
              22Item
      3.
              Defaults
      Upon Senior Securities
              22Item
      5.
              Other
      Information
              22Item
      6.
              Exhibits
              22





PART
I.





FINANCIAL
INFORMATION





Item
1. Financial Statements





IDCENTRIX,
INC


CONSOLIDATED
FINANCIAL STATEMENTS





CONTENTS





PageFINANCIAL
      INFORMATIONItem
      1.Condensed
      Consolidated Balance Sheets as of June 30, 2010 (Unaudited) and December
      31, 2009
              2Condensed
      Consolidated Statements of Operations for the Six and Three Months Ended
      June 30, 2010 and 2009 (Unaudited)
              3Condensed
      Consolidated Statements of Cash Flows for the Six Months Ended June 30,
      2010 and 2009 (Unaudited)
              4Notes
      to Condensed Consolidated Financial Statements (Unaudited)
              5-12








IDCENTRIX,
INC


CONDENSED
CONSOLIDATED BALANCE SHEETS





June
      30,
                
                
                December
      31,2010
                
                
                2009(Unaudited)ASSETSCurrent
      assetsCash
      and cash equivalents
                
                $
                1,072,122
                
                
                $
                11,300Accounts
      receivable, net
                
                
                2,132,834
                
                
                
                3,677,797Other
      receivables, net
                
                
                58,076
                
                
                
                100,746Loans
      to outside parties
                
                
                3,091,678
                
                
                
                -Advance
      to suppliers
                
                
                680,140
                
                
                
                3,861Inventories,
      net
                
                
                993,547
                
                
                
                616,134Prepaid
      expenses
                
                
                37,526
                
                
                
                19,452Total
      current assets
                
                
                8,065,923
                
                
                
                4,429,290Property,
      plant and equipment, net
                
                
                83,380
                
                
                
                36,882Intangible
      assets,net
                
                
                58,749
                
                
                
                -TOTAL
      ASSETS
                
                $
                8,208,052
                
                
                $
                4,466,172LIABILITIES
      AND STOCKHOLDERS’ EQUITYCurrent
      liabilitiesAccounts
      payable
                
                $
                561,222
                
                
                $
                158,541Accrued
      expenses and other payables
                
                
                16,259
                
                
                
                50,217Due
      to related parties
                
                
                631,069
                
                
                
                411,833Due
      to employees
                
                
                249,789
                
                
                
                -Due
      to outside parties
                
                
                121,905
                
                
                
                117,007Total
      current liabilities
                
                
                1,580,244
                
                
                
                737,598TOTAL
      LIABILITIES
                
                
                1,580,244
                
                
                
                737,598STOCKHOLDERS’
      EQUITYCommon
      stock, $0.00001 par value; 100,000,000 shares authorized; 49,870,814
      shares issued and outstanding
                
                
                499
                
                
                
                499Additional
      Paid-in capital
                
                
                14,851
                
                
                
                13,560Accumulated
      other comprehensive income
                
                
                82,529
                
                
                
                55,790Retained
      earnings
                
                
                6,529,929
                
                
                
                3,658,725TOTAL
      STOCKHOLDERS’ EQUITY
                
                
                6,627,808
                
                
                
                3,728,574TOTAL
      LIABILITIES AND STOCKHOLDERS’ EQUITY
                
                $
                8,208,052
                
                
                $
                4,466,172




2





IDCENTRIX,
INC


CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS


FOR
THE SIX AND THREE MONTHS ENDED JUNE 30, 2010 AND 2009


(UNAUDITED)





For
      the six months ended June 30,
                
                
                For
      the three months ended June 30,2010
                
                
                2009
                
                
                2010
                
                
                2009Net
      revenues
                
                $
                3,653,545
                
                
                $
                2,240,589
                
                
                $
                2,826,296
                
                
                $
                2,240,589Cost
      of goods sold
                
                
                (714,541
                )
                
                
                (567,177
                )
                
                
                (597,651
                )
                
                
                (567,177
                )Gross
      profit
                
                
                2,939,004
                
                
                
                1,673,412
                
                
                
                2,228,645
                
                
                
                1,673,412Operating
      expenses:General
      and administrative expenses
                
                
                (67,572
                )
                
                
                (39,763
                )
                
                
                (34,830
                )
                
                
                (21,448
                )Income
      from operations
                
                
                2,871,432
                
                
                
                1,633,649
                
                
                
                2,193,815
                
                
                
                1,651,964Other
      income (expenses)Interest
      income
                
                
                25
                
                
                
                31
                
                
                
                13
                
                
                
                -Other
      expenses
                
                
                (253
                )
                
                
                (392
                )
                
                
                (128
                )
                
                
                (177
                )Total
      other expenses
                
                
                (228
                )
                
                
                (361
                )
                
                
                (115
                )
                
                
                (177
                )Income
      before income taxes
                
                
                2,871,204
                
                
                
                1,633,288
                
                
                
                2,193,700
                
                
                
                1,651,787Income
      tax expense
                
                
                -
                
                
                
                -
                
                
                
                -
                
                
                
                -Income
      from operations
                
                
                2,871,204
                
                
                
                1,633,288
                
                
                
                2,193,700
                
                
                
                1,651,787Other
      comprehensive income-foreign currency translation gains
                
                
                26,739
                
                
                
                3,842
                
                
                
                26,499
                
                
                
                3,571-
                
                
                
                -Comprehensive
      income
                
                $
                2,897,943
                
                
                $
                1,637,130
                
                
                $
                2,220,199
                
                
                $
                1,651,787Basic
      and diluted earnings per share
                
                $
                0.06
                
                
                $
                0.03
                
                
                $
                0.04
                
                
                $
                0.03Weighted
      average number of shares
                
                
                49,870,814
                
                
                
                49,870,814
                
                
                
                49,870,814
                
                
                
                49,870,814




3





IDCENTRIX,
INC


CONDENSED  CONSOLIDATED
STATEMENTS OF CASH FLOWS


FOR
THE SIX MONTHS ENDED JUNE 30, 2010 AND 2009


(UNAUDITED)





For
      the six months ended June 30,2010
                  
                  
                  2009Cash
      flows from operating activities:Net
      income
                  
                  $
                  2,871,204
                  
                  
                  $
                  1,633,288Adjustments
      to reconcile net income to cash provided by (used in) operating
      activities:Depreciation
                  
                  
                  3,946
                  
                  
                  
                  2,416Changes
      in operating assets and liabilities:Accounts
      receivable
                  
                  
                  1,554,439
                  
                  
                  
                  25,086Inventories
                  
                  
                  (373,390
                  )
                  
                  
                  (193,392
                  )Advance
      to suppliers
                  
                  
                  (673,674
                  )
                  
                  
                  7,048Prepaid
      expenses and other assets
                  
                  
                  25,005
                  
                  
                  
                  (20,823
                  )Accounts
      payable
                  
                  
                  400,477
                  
                  
                  
                  (442,194
                  )Advance
      from customers
                  
                  
                  -
                  
                  
                  
                  1,534,683Accrued
      expenses and other current liabilities
                  
                  
                  (34,038
                  )
                  
                  
                  (9,132
                  )Net
      Cash provided by operating activities
                  
                  
                  3,773,969
                  
                  
                  
                  2,536,980Cash
      flows from investing activities:Acquisition
      of property, plant & equipment
                  
                  
                  (50,111
                  )
                  
                  
                  (519
                  )Acquisition
      of intangible assets
                  
                  
                  (58,524
                  )
                  
                  
                  -Net
      cash (used in) investing activities
                  
                  
                  (108,635
                  )
                  
                  
                  (519
                  )Cash
      flows from financing activities:Capital
      contribution
                  
                  
                  1,290
                  
                  
                  
                  -Loan
      to outside parties
                  
                  
                  (3,079,845
                  )
                  
                  
                  -Receipts
      from outside parties
                  
                  
                  4,389
                  
                  
                  
                  -Receipts
      from employee
                  
                  
                  248,833
                  
                  
                  
                  -Repayment
      to related parties
                  
                  
                  (411,980
                  )
                  
                  
                  (2,784,036
                  )Collections
      from related parties
                  
                  
                  628,654
                  
                  
                  
                  -Net
      cash (used in) financing activities
                  
                  
                  (2,608,659
                  )
                  
                  
                  (2,784,036
                  )Effect
      of exchange rate changes on cash
                  
                  
                  4,147
                  
                  
                  
                  714Net
      increase (decrease) in cash and cash equivalents
                  
                  
                  1,060,822
                  
                  
                  
                  (246,861
                  )Cash
      and cash equivalents, beginning of the period
                  
                  
                  11,300
                  
                  
                  
                  479,902Cash
      and cash equivalents, ending of the period
                  
                  $
                  1,072,122
                  
                  
                  $
                  233,041SUPPLEMENTARY DISCLOSURE:Interest
      paid
                  
                  $
                  -
                  
                  
                  $
                  -Income
      tax paid
                  
                  $
                  -
                  
                  
                  $
                  -




4




IDCENTRIX, INC


NOTES TO CONDENSED
CONSOLIDATED


FINANCIAL STATEMENTS


FOR THE SIX MONTHS ENDED


JUNE 30, 2010 AND 2009


(UNAUDITED)


NOTE
1 - ORGANIZATION AND BASIS OF PRESENTATION





iDcentrix,
Inc. (the "Company" or “iDcentrix”) was incorporated in the State of Nevada on
January 26, 2004.





On July
16, 2010, the Company completed a reverse acquisition transaction through a
share exchange with Honour Bond Limited ("Honour Bond") and its shareholders
(the “Shareholders”), whereby the Company acquired 100% of the issued and
outstanding capital stock of Honour Bond in exchange for 49,870,814 shares of
our Common Stock which constituted 99.74% of our issued and outstanding capital
stock as of and immediately after the consummation of the reverse
acquisition.  As a result of the reverse acquisition, Honour Bond
became our wholly-owned subsidiary and the former shareholders of Honour Bond
became our controlling stockholders.  The amount of consideration
received by the shareholders of Honour Bond was determined on the basis of
arm’s-length negotiations between Honour Bond and iDcentrix.  The
share exchange transaction with Honour Bond and the Shareholders was treated as
a reverse acquisition, with Honour Bond as the accounting acquirer and iDcentrix
as the accounting acquiree.





For
accounting purposes, the transaction was being accounted for as a reverse
merger, since the former stockholders of Honour own a majority of the issued and
outstanding shares of common stock of the Company, and the director and
executive officer of Honour became the director and executive officer of the
Company. This acquisition is being accounted for at historical cost in a manner
similar to that in pooling of interests method since the former stockholders of
Honour acquired a majority of the outstanding shares of the Company. The
historical financial statements will be those of Honour.





Honour
Bond is a corporation organized under the laws of Hong Kong Special
Administrative Region (“HKSAR”) in January 2010 with registered capital of HKD
10,000 (approximately $1,289).





Honour
Bond is a holding company whose only asset, held through a 100% wholly owned
subsidiary Shenzhen Zhihao Dongbo Technology Co., Ltd. (“Zhihao”), a limited
liability company organized under the laws of the People’s Republic of China
(“PRC”) in March 2010.  The Company does not conduct any substantive
operations of its own, but conducts its primary business operations through
Zhihao’s variable interest entity (“VIE”), Dandong Longsheng Horticulture
Technology Co., Ltd.  (“Dandong Longsheng”). Dandong Longsheng was
incorporated under the laws of the PRC in March 2008.




Honour
Bond, through Zhihao, has entered into certain exclusive agreements with Dandong
Longsheng, which obligate the Company to absorb a majority of the risk of loss
from Dandong Longsheng’s activities and entitle it to receive a majority of its
residual returns. In addition, Dandong Longsheng 's shareholders have pledged
their equity interest in Dandong Longsheng to Zhihao, irrevocably granted Zhihao
an exclusive option to purchase, to the extent permitted under PRC law, all or
part of the equity interests in Dandong Longsheng and agreed to entrust all the
rights to exercise their voting power to the person(s) appointed by Zhihao.
Through these contractual arrangements, the Company and Zhihao hold all the
variable interests of Dandong Longsheng, and the Company and Zhihao have been
determined to be the most closely associated with Dandong Longsheng. Therefore,
the Company is the primary beneficiary of Dandong Longsheng.





Based on
these contractual arrangements, the Company believes that Dandong Longsheng
should be considered as a VIE  under ASC 810, "Consolidation of
Variable Interest Entities, an Interpretation of ARB No.51", because the equity
investors in Dandong Longsheng do not have the characteristics of a controlling
financial interest and the Company through Zhihao is the primary beneficiary of
Dandong Longsheng. Accordingly, the Company believes that the financial
statements of Dandong Longsheng should be consolidated under ASC
810.





The
Company, along with its subsidiary and VIEs, is engaging in the cultivation and
sales of blueberry seedlings with dominant operation in Dandong Liaoning,
Northeastern China.




5




IDCENTRIX, INC
 NOTES TO CONDENSED
CONSOLIDATED
 FINANCIAL STATEMENTS
 FOR THE SIX MONTHS ENDED
 JUNE 30, 2010 AND 2009
 (UNAUDITED)


NOTE
2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES





Principles
of Consolidation





The
accompanying consolidated financial statements include the financial statements
of iDcentrix, its wholly owned subsidiaries, Honour Bond and Zhihao as well as
Dandong Longsheng, Zhihao’s VIE. All significant inter-company balances and
transactions have been eliminated in consolidation. In the opinion of the
Company’s management, the unaduited condensed consolidated financial statements
include all adjustments necessary to present fairly the consolidated financial
position, results of operations and cash flows of the Company for the periods
presented. The results of operations for the three and six-months ended June 30,
2010 are not necessarily indicative of the operating results expected for the
full year or future interim periods.





Use of
estimates





The
preparation of consolidated financial statements in conformity with US GAAP
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the dates of the consolidated financial statements and the
amounts of revenues and expenses during the reporting periods. Management
makes these estimates using the best information available at the time the
estimates are made.  However, actual results could differ materially
from those results.





Risks and
uncertainties





The
Company is subject to substantial risks from, among other things, intense
competition associated with the industry in general, other risks associated with
financing, liquidity requirements, rapidly changing customer requirements,
limited operating history, foreign currency exchange rates and the volatility of
public markets.





Foreign currency
translation





The
functional currency of the Company is the Chinese Renminbi (“RMB”). For
financial reporting purposes, RMB has been translated into United States dollars
("USD") as the reporting currency. Assets and liabilities are translated at the
exchange rate in effect at the balance sheet date. Income statement accounts are
translated at the average rate of exchange prevailing for the period. Capital
accounts are translated at their historical exchange rates when the capital
transaction occurred. Translation adjustments arising from the use of different
exchange rates from period to period are included as a component of
stockholders' equity as "Accumulated other comprehensive income." Gains and
losses resulting from foreign currency translation are included in accumulated
other comprehensive income.





Cash and cash
equivalents





The
Company considers all highly liquid investments with an original maturity of
three months or less to be cash equivalents.





Accounts
receivable





Accounts
receivables are recorded at net realizable value consisting of the carrying
amount less an allowance for uncollectible amounts, as needed.





The
Company uses the aging method to estimate the valuation allowance for
anticipated uncollectible receivable balances. Under the aging method, bad debt
percentages determined by management based on historical experience as well as
current economic climate are applied to customers’ balances categorized by the
number of months the underlying invoices have remained outstanding. The
valuation allowance balance is adjusted to the amount computed as a result of
the aging method. When facts subsequently become available to indicate that the
allowance provided requires an adjustment, then the adjustment will be
classified as a change in estimate. There were no allowances for uncollectible
amounts for the six months ended June 30, 2010 and the year ended December 31,
2009 as the management believes all amounts are considered
collectible.





Inventories





Inventories
are stated at the lower of cost (determined on a weighted average basis) or
market.  The management compares the cost of inventories with the fair
market value and an allowance is made for writing down the inventories to fair
market value, if lower than the cost. As of June 30, 2010 and December 31, 2010,
there were no reserves for obsolete inventory.




6




IDCENTRIX, INC
 NOTES TO CONDENSED
CONSOLIDATED
 FINANCIAL STATEMENTS
 FOR THE SIX MONTHS ENDED
 JUNE 30, 2010 AND 2009
 (UNAUDITED)


Revenue
recognition





The
Company recognizes sales in accordance with the United States Securities and
Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) No. 104, “Revenue
Recognition”.  The Company recognizes revenue when the following
fundamental criteria are met: (i) persuasive evidence of an arrangement exists,
(ii) delivery has occurred or services have been rendered, (iii) the price to
the customer is fixed or determinable and (iv) collection of the resulting
receivable is reasonably assured.  Revenue is not recognized until
title and risk of loss is transferred to the customer, which occurs upon
delivery of goods, and objective evidence exists that customer acceptance
provisions have been met.  Deposits or advance payments from customers
prior to delivery of goods and passage of title of goods are recorded as advance
from customers.





Property, plant and
equipment





Property,
plant and equipment are recorded at cost.  Gains or losses on
disposals are reflected as gain or loss in the year of disposal.  The
cost of improvements that extend the life of plant, property, and equipment are
capitalized.  These capitalized costs may include structural
improvements, equipment, and fixtures.  All ordinary repair and
maintenance costs are expensed as incurred.





Depreciation
for financial reporting purposes is provided using the straight-line method over
the following estimated useful lives of the assets:





Estimated Useful Life
                  
                  Residual valueMachinery
      and equipment
                  5-10
      years
                  
                  
                  5
                  %Vehicle
                  10
      years
                  
                  
                  5
                  %





Impairment of long-lived
assets





Long-lived
assets, which include property, plant and equipment, are reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount of
an asset may not be recoverable. Recoverability of long-lived assets to be held
and used is measured by a comparison of the carrying amount of an asset to the
estimated undiscounted future cash flows expected to be generated by the assets.
If the carrying amount of an asset exceeds its estimated undiscounted future
cash flows, an impairment charge is recognized by the amount by which the
carrying amount of the asset exceeds the fair value of the assets. Fair value is
generally determined using the asset’s expected future discounted cash flows or
market value, if readily determinable.





There was
no impairment loss recorded for the six months ended June 30, 2010 and
2009.





Concentration of credit
risk





Financial
instruments that potentially subject the Company to significant concentrations
of credit risk consist of cash and cash equivalents and accounts and other
receivables. As of June 30, 2010, most of the Company's cash and cash
equivalents were held by major banks located in China, which the Company's
management believes are of high credit quality. With respect to accounts
receivable, the Company conducts periodic reviews of its customers' financial
condition and customer payment practices to minimize collection risk on accounts
receivable.





Earnings per
share





Earnings
per share are calculated in accordance with the ASC 260, “Earnings per share.”
Basic net earnings per share are based upon the weighted average number of
common shares outstanding, but excluding shares issued as compensation that have
not yet vested. Diluted net earnings per share are based on the assumption that
all dilutive convertible shares and stock options were converted or exercised,
and that all unvested shares have vested.  Dilution is computed by
applying the treasury stock method. Under this method, options and warrants are
assumed to be exercised at the beginning of the period (or at the time of
issuance, if later), and as if funds obtained thereby were used to purchase
common stock at the average market price during the period.




7




IDCENTRIX, INC
 NOTES TO CONDENSED
CONSOLIDATED
 FINANCIAL STATEMENTS
 FOR THE SIX MONTHS ENDED
 JUNE 30, 2010 AND 2009
 (UNAUDITED)


Income
taxes





The
Company accounts for income tax under the provisions of ASC 740,"Accounting for
Income Taxes", which requires recognition of deferred tax assets and liabilities
for the expected future tax consequences of events that have been included in
the financial statements or tax returns. Under this method, deferred income
taxes are recognized for the tax consequences in future years of differences
between the tax bases of assets and liabilities and their financial reporting
amounts at each period end based on enacted tax laws and statutory tax rates
applicable to the periods in which the differences are expected to affect
taxable income. Valuation allowances are established, whenever necessary,
against net deferred tax assets when it is more likely than not that some
portion or all of the deferred tax asset will not be realized. The Company did
not have any deferred tax asset or liabilities in the any tax jurisdiction for
the six months ended June 30, 2010 and the year ended 2009.





Fair values of financial
instruments





The
Company’s financial instruments include cash and cash equivalents, accounts
receivable, advances to suppliers, other receivables, prepaid expenses, accounts
payable, accrued expenses, and other loans payable. Management has estimated
that the carrying amounts approximate their fair value due to the short-term
nature.





Statement of cash
flows





In
accordance with ASC 230, "Statements of Cash Flows", cash flows from the
Company’s operations is calculated based upon the local currencies. As a result,
amounts related to assets and liabilities reported on the statement of cash
flows may not necessarily agree with changes in the corresponding balances on
the balance sheet.





NOTE
3 – ACCOUNTS RECEIVABLE





Accounts
receivable consists of trade receivables resulting from sales of products during
the normal course of business. Accounts receivable as of June 30, 2010 and
December 31, 2009 amounted to $2,132,834 and $3,677,797, net of allowance,
respectively. The management considered all accounts receivable collectible and
no allowance was made as of June 30, 2010 and December 31, 2009.





The
Accounts receivable has the following breakdown between affiliated Company and
non-affiliated Company:


As ofJune 30,
                  
                  
                  December 31,2010
                  
                  
                  2009Accounts
      receivable-
      from affiliated companies
                  
                  $
                  -
                  
                  
                  $
                  3,670,409-
      from outside companies
                  
                  
                  2,132,834
                  
                  
                  
                  7,388Less:
      Allowance for doubtful accounts
                  
                  
                  -
                  
                  
                  
                  -Accounts
      receivable, net
                  
                  $
                  2,132,834
                  
                  
                  $
                  3,677,797




NOTE
4 – OTHER RECEIVABLES





Other
receivables are mainly composed of advance to employees for the daily operation
of business. Other receivable as of June 30, 2010 and December 31, 2009 amounted
to $58,076 and $100,746, respectively.





NOTE
5 – LOANS TO OUTSIDE PARTIES





Loans to
outside parties are generally short term, non-interest bearing and due on
demand. Loan to outside parties as of June 30, 2010 and December 31, 2009
amounted to $ 3,091,678 and nil, respectively. The Company loans to outside
parties for potential projects and will convert this loan to investment when
they establish the project is feasible.




8


IDCENTRIX, INC
 NOTES TO CONDENSED
CONSOLIDATED
 FINANCIAL STATEMENTS
 FOR THE SIX MONTHS ENDED
 JUNE 30, 2010 AND 2009
 (UNAUDITED)




NOTE
6 – INVENTORIES





Inventories
consist of the following as of June 30, 2010 and December 31, 2009:


As ofJune 30,
                      
                      
                      December 31,2010 (Unaudited)
                      
                      
                      2009Raw
      material
                      
                      $
                      107,723
                      
                      
                      $
                      8,732Finished
      goods
                      
                      
                      194,238
                      
                      
                      
                      174,077Work
      in process
                      
                      
                      691,586
                      
                      
                      
                      433,325Total
                      
                      $
                      993,547
                      
                      
                      $
                      616,134





No
allowance for inventories was made as of June 30, 2010 and December 31,
2009.





NOTE
7 – PROPERTY, PLANT AND EQUIPMENT, NET





Property,
plant and equipment consist of the following as of June 30, 2010 and
2009:


As ofJune 30,
                            
                            
                            December 31,2010 (Unaudited)
                            
                            
                            2009Machine
      Equipment
                            
                            $
                            13,668
                            
                            
                            $
                            13,611Vehicle
                            
                            
                            24,675
                            
                            
                            
                            24,571Office
      Equipment
                            
                            
                            57,257
                            
                            
                            
                            6,924Total
      costs
                            
                            
                            95,600
                            
                            
                            
                            45,106Less:
      Accumulated Depreciation
                            
                            
                            (12,220
                            )
                            
                            
                            (8,224
                            )Total
      property, plant and equipment, net
                            
                            $
                            83,380
                            
                            
                            $
                            36,882





Depreciation
expense for the six months ended June 30, 2010 and 2009 were $3,947 and $2,416,
respectively.  Depreciation expense for the three months ended June
30, 2010 and 2009 were $2,602 and $1,212, respectively.





NOTE
8 –INTANGIBLE ASSETS, NET





Intangible
assets as of June 30, 2010 consist of computer software program acquired. The
Company will amortize the assets on a straight line basis over its terms of use
rights from the acquisition date. The amortization will start from July
2010.




NOTE
9 - RELATED PARTY TRANSACTIONS





As of
June 30, 2010 and December 31, 2009, the Company has a payable balance of
$631,069 and $411,833 due to the Company’s majority stockholder, Mr. Guang Zhao.
Mr. Zhao provides funds for the Company’s daily operations. These amounts due
are generally unsecured, non-interest bearing and due upon demand.





NOTE
10 – INCOME TAX





The
Company is subject to income taxes on an entity basis on income arising in or
derived from the tax jurisdiction in which each entity is
domiciled.





iDcentrix,
Inc. was incorporated in the United States, it is a Nevada company.





As all of
the Honour’s operations are conducted through its wholly owned subsidiary Zhihao
and its variable interest entity, Dandong Longsheng in China, those Companies
are governed by the Income Tax Law of the PRC concerning the private-run
enterprises, which are currently subject to tax at a statutory rate of 25% on
income reported in the statutory financial statements after appropriated tax
adjustments.


9




IDCENTRIX, INC
 NOTES TO CONDENSED
CONSOLIDATED
 FINANCIAL STATEMENTS
 FOR THE SIX MONTHS ENDED
 JUNE 30, 2010 AND 2009
 (UNAUDITED)


However,
the Company is exempt from both income tax and value-added tax because it
operates its business in the agriculture industry. The Chinese government has
long been encouraging and promoting agriculture-related businesses by offering
tax exemption and many other incentives.





Reconciliation
of the difference between the actual income tax rate and the effective tax rate
computed by applying the related tax exemption for the operation of the periods
presented as follows:





2010
                  
                  
                  2009US
      statutory rate
                  
                  
                  34
                  %
                  
                  
                  34
                  %Tax
      rate difference
                  
                  
                  (9
                  )%
                  
                  
                  (9
                  )%Effect
      of tax exempt
                  
                  
                  (25
                  )%
                  
                  
                  (25
                  )%Tax
      per financial statements
                  
                  
                  0
                  %
                  
                  
                  0
                  %





NOTE
11 - STOCKHOLDERS’ EQUITY





Issuance
of Common Stock for recapitalization





Prior to
the acquisition of Honour Bond Limited the Company had 68,176,300 shares issued
and outstanding as of January 31, 2010 and on June 1, 2010, the Company effected
a one for two hundred eighty-four (1:284) reverse stock split. The Company had
68,176,300 shares of common stock outstanding immediately prior to the reverse
stock split and 240,130 shares of common stock outstanding immediately after the
reverse stock split and before the reverse merger with Honour.  In
connection with the reverse merger, the Company issued 49,870,814 shares of its
common stock, in exchange for all the shares of the capital stock of Honour (the
“Share Exchange”).  Upon completion of the Share Exchange, the
shareholders of Honour owned approximately 99.74% of the common stock of the
Company.




10




IDCENTRIX, INC
 NOTES TO CONDENSED
CONSOLIDATED
 FINANCIAL STATEMENTS
 FOR THE SIX MONTHS ENDED
 JUNE 30, 2010 AND 2009
 (UNAUDITED)


NOTE
12 - CONCENTRATION AND RISKS





(a)
Concentration risk





A summary
of the major clients who accounted for 10% or more of the Company’s sales are as
follows:


For the six
                            months ended
                          
                          
                          For the six
                            months endedJune 30, 2010
                          
                          
                          June 30,2009Major Clients' salesClient A
                          
                          
                          994,914
                          
                          
                          
                          -Client
      B
                          
                          
                          786,275
                          
                          
                          
                          358,088Client
      C
                          
                          
                          723,069
                          
                          
                          
                          -Client
      D
                          
                          
                          572,324
                          
                          
                          
                          632,664Client
      E
                          
                          
                          -
                          
                          
                          
                          531,031Client
      D
                          
                          
                          -
                          
                          
                          
                          718,806Other
                          
                          
                          576,963
                          
                          
                          
                          -Total
                          
                          $
                          3,653,545
                          
                          
                          $
                          2,240,589





A summary
of the major suppliers who provided 10% or more of the Company’s purchases are
as follows:


For the six
                              months ended
                            
                            
                            For the six
                              months endedJune 30, 2010
                            
                            
                            June 30,2009Major SuppliersSupplier
      A
                            
                            
                            423,658
                            
                            
                            
                            -Supplier
      B
                            
                            
                            298,755
                            
                            
                            
                            159,070Supplier
      C
                            
                            
                            107,378
                            
                            
                            
                            55,295Supplier
      D
                            
                            
                            -
                            
                            
                            
                            188,506Other
                            
                            
                            95,153
                            
                            
                            
                            200,769Total
                            
                            $
                            924,944
                            
                            
                            $
                            214,365




(b)
Credit risk





Financial
instruments that potentially expose the Company to concentrations of credit risk
consist primarily of cash, cash equivalents and accounts receivable. The Company
places its cash, cash equivalents with financial institutions that management
believes are of high-credit ratings and quality.





The
Company has not experienced significant losses from uncollectible accounts. The
Company will continue to evaluate its collection experience and will provide for
an allowance for doubtful accounts as appropriate.





(c)
Foreign currency risk





A
majority of the Company’s sales and expenses transactions and a significant
portion of the Company’s assets and liabilities are denominated in RMB. RMB is
not freely convertible into foreign currencies. In the PRC, certain foreign
exchange transactions are required by law to be transacted only by authorized
financial institutions at exchange rates set by the People’s Bank of China
(“PBOC”). Remittances in currencies other than RMB by the Company in China must
be processed through the PBOC or other China foreign exchange regulatory bodies
which require certain supporting documentation in order to affect the
remittance.




11




IDCENTRIX, INC
 NOTES TO CONDENSED
CONSOLIDATED
 FINANCIAL STATEMENTS
 FOR THE SIX MONTHS ENDED
 JUNE 30, 2010 AND 2009
 (UNAUDITED)


NOTE
12 - CONCENTRATION AND RISKS (Continued)





(d)
Country and Political risk





The
Company’s operations are all carried out in the PRC. Accordingly, The Company’s
business, financial condition and results of operations may be influenced by the
political, economic and legal environments in the PRC, and by the general state
of the PRC's economy.





The
Company’s operations in the PRC are subject to specific considerations and
significant risks not typically associated with companies in the North America
and Western Europe. These include risks associated with, among others, the
political, economic and legal environments and foreign currency exchange. The
Company’s results of operations may be adversely affected by changes in
governmental policies with respect to laws and regulations, anti-inflationary
measures, currency conversion and remittance abroad, and rates and methods of
taxation, among other things.






12




Item
2. Management’s Discussion and Analysis of Financial Condition and Results of
Operations





The
following discussion and analysis should be read in conjunction with our
unaudited condensed consolidated financial statements and notes thereto included
in this Quarterly Report on Form 10-Q and our audited consolidated financial
statements and notes thereto included in our Current Report on Form 8-K filed
with the SEC on July 16, 2010.





Forward-Looking
Statements





This quarterly report on Form 10-Q
contains forward-looking statements within the meaning of the federal securities
laws. These statements relate to future events or our future financial
performance and involve known and unknown risks, uncertainties and other factors
that may cause our actual results, levels of activity, performance or
achievements to be materially different from those expressed or implied by the
forward-looking statements. In some cases, you can identify forward-looking
statements by terminology such as “may,” “likely,” “will,” “should,” “expect,”
“plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue”
or the negative of these terms or other comparable terminology. These
forward-looking statements are subject to a number of risks that could cause
them to differ from our expectations. These include, but are not limited to,
risks relating to:





·
            Continued growth of the Chinese
      economy;





·
            Chinese consumers’ continued
      movement up the value chain to consume higher-end agricultural products,
      namely blueberries;





·
            Our ability to obtain additional
      capital in future years to fund our planned
    expansion;





·
            Negative changes in the
      industries in which our products are
  sold;





·
            Decrease in the availability, or
      increase in the cost, of raw materials and
  energy;





·
            Economic, political, regulatory,
      legal and foreign exchange risks associated with our operations;
      or





·
            The loss of key members of our
      senior management and our qualified sales
  personnel.





You should not place undue reliance
on these forward-looking statements, which are based on our current views and
assumptions. In evaluating these statements, you should specifically consider
various factors, including the foregoing risks and those outlined under “Risk
Factors” in our Form 8-K as filed with the SEC on July 16, 2010. Many of these
factors are beyond our control. Our forward-looking statements represent
estimates and assumptions only as of the date of this quarterly report on Form
10-Q. Except as required by law, we undertake no obligation to update any
forward-looking statement to reflect events or circumstances occurring after the
date of this quarterly report on Form 10-Q.





Business
Overview and Basis of Presentation





On July
16, 2010, we completed a reverse acquisition transaction through a share
exchange with Honour Bond Limited, a Hong Kong limited company (“Honour Bond”)
and its shareholders (“Honour Bond Shareholders”), whereby we acquired 100% of
the issued and outstanding capital stock of Honour Bond in exchange for
49,870,814 shares of our common stock which constituted 99.74% of our issued and
outstanding capital stock as of and immediately after the consummation of the
reverse acquisition.  As a result of the reverse acquisition, Honour
Bond became our wholly-owned subsidiary and the Honour Bond Shareholders became
our controlling stockholders.   The share exchange transaction with
Honour Bond and the Honour Bond Shareholders was treated as a reverse
acquisition, with Honour Bond as the acquirer and iDcentrix as the acquired
party.  Unless the context suggests otherwise, when we refer in this
report to business and financial information for periods prior to the
consummation of the reverse acquisition, we are referring to the business and
financial information of Honour Bond and its consolidated subsidiariesand replace the historical
financial results of iDcentrix, Inc. pre-acquisition.  iDcentrix, Inc.
and its subsidiaries and controlled affiliates are referred to collectively as
“we,” “us,” and the “Company.”


13




Upon the
closing of the reverse acquisition, Tsoi Tik Man, our former President,
Secretary and a director, submitted a resignation letter pursuant to which he
resigned from all offices that he held effective immediately and from his
position as our director that became effective on August 7, 2010.  In
addition, our board of directors on July 16, 2010, appointed Guang Zhao to fill
the vacancy created by such resignation, which appointment became effective
on August 7, 2010.  In addition, our executive officer was replaced by
Guang Zhao upon the closing of the reverse acquisition.





As a
result of our acquisition of Honour Bond, we now own all of the issued and
outstanding capital stock of Honour Bond, which in turn owns all of the issued
and outstanding capital stock of Dongbo ConsultingShengzheng Zhihao Dongbo
Technology Ltd., a Chinese limited company (“Dongbo Consulting”).  In
addition, we effectively and substantially control Dandong LongSheng
Horticulture Technology Co., Ltd., a Chinese limited company (“Dandong
LongSheng”), through a series of captive agreements with Dongbo
Consulting.  Dandong LongSheng is principally engaged in the
production of blueberry seedlings in the PRC.





Honour
Bond was established in Hong Kong on January 5, 2010 to serve as an intermediate
holding company.  Dongbo Consulting was established in China on March
4, 2010.





Dandong
LongSheng was founded in March of 2008 in the People’s Republic of China to meet
the strict supply chain demands of the food and beverage industry for quality
high-end agricultural products.  Our offices and growing facilities
are located in and around the city of Dandong in Liaoning
Province.  Our products consist of a number of blueberry seedling
varietals.  Currently, we have the capacity to grow seven million
seedlings per year in our 34 greenhouses on five acres of growing
facilities.  We sell our seedlings to a number of agricultural
enterprises throughout northern China, who then replant them and cultivate them
to maturity in blueberry farms.




Our
unique cultivation techniques allow us to produce multiple semi-mature blueberry
plants from seedlings at far higher efficiencies, survival rates and in shorter
periods of time than many of our competitors, contributing to our strong gross
margins.  We currently employ approximately 155
individuals.





Contractual
Arrangements with our Controlled Affiliate and its Shareholder




On March
10, 2010, prior to the reverse acquisition transaction, Dongbo Consulting and
Dandong LongSheng and its sole shareholder Guang Zhao entered into a series of
agreements known as variable interest agreements (the “VIE Agreements”) pursuant
to which Dandong LongSheng became Dongbo Consulting’s contractually controlled
affiliate.  The use of VIE agreements is a common structure used to
acquire PRC corporations, particularly in certain industries in which foreign
investment is restricted or forbidden by the PRC government.  The VIE
Agreements included:





(1)
            an Exclusive Technical Consulting
      and Service Agreement between Dongbo Consulting and Dandong LongSheng
      pursuant to which Dongbo Consulting is to provide technical support and
      consulting services to Dandong LongSheng in exchange for all of the net
      income after taxes of Dandong
LongSheng.





(2)
            a Call Option and Cooperation
      Agreement among Guang Zhao, Dandong LongSheng and Dongbo Consulting under
      which the sole shareholder of Dandong LongSheng has granted to Dongbo
      Consulting the irrevocable right and option to acquire all of his equity
      interests in Dandong LongSheng to the extent permitted by PRC
      law.  If PRC law limits the percentage of Dandong LongSheng that
      Dongbo Consulting may purchase at any time, then Dongbo Consulting may
      repeatedly exercise its option in such increments as may be allowed by PRC
      law.  The exercise price of the option is the net asset value of
      Dandong LongSheng at the time of exercise, or the percentage of such net
      asset value which corresponds to any incremental exercise of the option,
      or any higher price required by PRC law.  Any such difference
      between such net asset value and such higher price required by PRC law is,
      subject to all applicable laws and regulations, to be paid over to Dandong
      LongSheng.  Dandong LongSheng and its owner agree to refrain
      from taking certain actions which might harm the value of Dandong
      LongSheng or Dongbo Consulting’s option, and Dongbo Consulting undertakes
      to offer necessary financial support to Dandong LongSheng with respect to
      any losses or capital requirements to the extent permitted by
      law;


14





(3)
            a Power of Attorney by Guang Zhao
      pursuant to which Mr. Zhao authorizes Dongbo Consulting to designate
      someone to exercise all of his shareholder decision rights with respect to
      Dandong LongSheng, provided that Dandong LongSheng consents to such
      authorization; and





(4)
            an Equity Pledge Agreement
      between Guang Zhao and Dongbo Consulting under which the sole shareholder
      of Dandong LongSheng has pledged all of his equity in Dandong LongSheng to
      Dongbo Consulting to guarantee Dandong LongSheng’s and Guang Zhao’s
      performance of their obligations under the Exclusive Technical Consulting
      and Service Agreement, the Call Option and Cooperation Agreement and the
      Equity Pledge Agreement.





The VIE
Agreements with our Chinese affiliate and its shareholder, which relate to
critical aspects of our operations, may not be as effective in providing
operational control as direct ownership.  In addition, these
arrangements may be difficult and costly to enforce under PRC
law.  Furthermore, our failure to perform our obligations under the
VIE Agreements could give Dandong LongSheng the right to cease performance under
or terminate the VIE Agreements and thereby deprive us of the economic benefit
of the VIE Agreements from which we derive all of our revenues.  See
“Risk Factors - Risks Relating to the VIE Agreements.”





Because
of the common control between Honour Bond, Dongbo Consulting and Dandong
LongSheng, for accounting purposes, the acquisition of these entities has been
treated as a recapitalization with no adjustment to the historical basis of
their assets and liabilities.  The restructuring has been accounted
for using the “as if” pooling method of accounting and the operations were
consolidated as if the restructuring had occurred as of the beginning of the
earliest period presented in our consolidated financial statements and the
current corporate structure had been in existence throughout the periods covered
by our consolidated financial statements.




Principal
Factors Affecting Our Financial Performance




Our
operating results are primarily affected by the following factors:





·
            Growth
      in the Chinese Economy -We operate our agricultural
      facilities in China and derive the majority of our revenues from sales to
      customers in China. Economic conditions in China, therefore, affect
      virtually all aspects of our operations, including the demand for our
      products, the availability and prices of our raw materials and our other
      expenses. China has experienced significant economic growth, achieving a
      compound annual growth rate of over 10% in gross domestic product from
      1996 through 2008. Concurrent with this growth, domestic demand for our
      products has also increased. China is expected to experience continued
      growth in all areas of investment and consumption, even in the face of a
      global economic recession.





·
            Growth
      of Demand in the Agricultural Products Market –We believe that China’s recent
      rise in consumption of fruit has been due to China’s economic growth and
      increased health and wellness consciousness. Management believes that
      along with increases in disposable income, Chinese consumers will elect to
      purchase more health foods and fresh fruits, which will benefit our
      sales.





·
            Fluctuations
      in Raw Material Supply, Prices and Demand for our Products -Our Company’s production costs
      depend largely on readily available supply price of necessary raw
      materials which include seedlings, fertilizer, and other growing
      equipment. Increases in the price of oil directly impact fertilizer
      prices. Blueberry demand impacts both our raw material costs as well as
      our sales price. We set our prices according to local market prices for
      seedlings, which is determined by supply and demand factors in Northern
      China.


15





·
            PRC
      Government Policy Promoting the Development of the Agricultural Industry
      -As part of the
      PRC’s eleventh five-year plan, local and federal authorities have offered
      assistance in the form of a variety of subsidies and tax incentives to
      farmers and agricultural producers with the goal of modernizing China’s
      agriculture industry and promoting rural
  affluence.





Comparison of Six and Three
Months Ended June 30, 2010 and 2009 (Unaudited)





The
following tables set forth key components of our results of operations during
the six and three months periods ended June 30, 2010 and 2009, both in dollars
and as a percentage of our net sales. As Longsheng was the only entity in our
combined business that had operations, the results of operations below refer
only to that of Longsheng.





Six Months Ended
                
                
                Six Months EndedJune 30, 2010
                
                
                June 30, 2009% of
                  Net
                
                
                
                
                
                % of NetAmount
                
                
                Sales
                
                
                Amount
                
                
                SalesNet
      Sales
                
                $
                3,653,545
                
                
                
                100
                %
                
                $
                2,240,589
                
                
                
                100
                %Cost
      of sales
                
                
                (714,541
                )
                
                
                (20
                )%
                
                
                (567,177
                )
                
                
                (25
                )%Gross
      profit
                
                
                2,939,004
                
                
                
                80
                %
                
                
                1,673,412
                
                
                
                75
                %Selling,
      General and Administrative Expenses
                
                
                (67,572
                )
                
                
                (1
                )%
                
                
                (39,763
                )
                
                
                (2
                )%Operating
      Income
                
                
                2,871,432
                
                
                
                79
                %
                
                
                1,633,649
                
                
                
                73
                %Other
      income & interest expense
                
                
                (228
                )
                
                
                0
                %
                
                
                (361
                )
                
                
                -Income
      Before Income Taxes
                
                
                2,871,204
                
                
                
                79
                %
                
                
                1,633,288
                
                
                
                73
                %Income
      taxes
                
                
                -
                
                
                
                0
                %
                
                
                -
                
                
                
                -Net
      income
                
                $
                2,871,204
                
                
                
                79
                %
                
                $
                1,633,288
                
                
                
                73
                %





Three Months Ended
                
                
                Three Months EndedJune 30, 2010
                
                
                June 30, 2009% of Net
                
                
                
                
                
                % of NetAmount
                
                
                Sales
                
                
                Amount
                
                
                SalesNet
      Sales
                
                $
                2,826,296
                
                
                
                100
                %
                
                $
                2,240,589
                
                
                
                100
                %Cost
      of sales
                
                
                (597,651
                )
                
                
                (21
                )%
                
                
                (567,177
                )
                
                
                (25
                )%Gross
      profit
                
                
                2,228,645
                
                
                
                79
                %
                
                
                1,673,412
                
                
                
                75
                %Selling,
      General and Administrative Expenses
                
                
                (34,830
                )
                
                
                (1
                )%
                
                
                (21,448
                )
                
                
                (1
                )%Operating
      Income
                
                
                2,193,815
                
                
                
                78
                %
                
                
                1,651,964
                
                
                
                74
                %Other
      income & interest expense
                
                
                (115
                )
                
                
                0
                %
                
                
                (177
                )
                
                
                0
                %Income
      Before Income Taxes
                
                
                2,193,700
                
                
                
                78
                %
                
                
                1,651,787
                
                
                
                74
                %-Income
      taxes
                
                
                -
                
                
                
                0
                %
                
                
                -
                
                
                
                0
                %Net
      income
                
                $
                2,193,700
                
                
                
                78
                %
                
                $
                1,651,787
                
                
                
                74
                %





Net Sales and Cost of
Sales





Our net
sales sharply increased to $3,653,545 and $2,826,296 in the six and three months
ended June 30, 2010 from $2,240,589 and $2,240,589 in the same period in 2009,
representing an increasing trend year-on-year.  Our cost of sales
increased to $714,541 and $597,651 in the six and three months ended June 30,
2010 from $567,177 and $567,177 in the same period in 2009.  The cost
of goods sold per sales ratio changed from 25% to 20% in the six months ended
June 30, 2010. These increases were mainly due to the rapid growth in our scale
and output. We are under experimental stage in 2008 where each primal seedling
was only proliferated into two. However, each seedling could be proliferated
into four or five in 2009, or more in 2010 along with the growth in experience
and technology.  Therefore the level of cost of sales in the six and
three months ended June 30, 2010 was lower than the same period of 2009. Our
products’
growth is subject to the weather condition. In the winter period our products
mostly will be hibernated. There were no sales in the first quarter of
2009.  16





Gross Profit and Gross
Margin





Our gross
profit increased to $2,939,004 and $2,228,645 in the six and three months ended
June 30, 2010 from $1,673,412 and $1,673,412 in the same period in 2009. Gross
profit as a percentage of net revenue was 80% and  75% for the six
months ended June 30, 2010 and 2009, respectively, and was 79% and 75% for the
three months ended June 30, 2010 and 2009, respectively.





Selling, General and
Administrative Expenses





Our
selling, general and administration expenses increased to $67,572 and $34,830 in
the six and three months ended June 30, 2010 from $39,763 and $21,448 in the
same period in 2009. This increase was mainly due to our rapid growth as these
costs are proportional to sales.





Other Income
(Expenses)





Other
expenses decreased to $228 and $115 in the six and three months ended June 30,
2010 from $361 and $177 in the same period in 2009. This decrease was mainly due
to decrease in our non-operation expenses.





Income before Income
Taxes





Our
income before income taxes increased to $2,871,204 and $2,193,700 in the six and
three months ended June 30, 2010 from $1,633,288 and $1,651,787 in the same
period in 2009. This change was mainly due to the increase in sales based on
ample finished goods in the end of 2009.





Income
Taxes





As all of
the Honour’s operations are conducted in China, according to the PRC’s new
Enterprise Income Tax, we are exempt from paying income taxes because we operate
our business in the agriculture industry, which the government encourages and
offers special incentives. We benefited from the tax exemption in both 2010 and
2009.





Liquidity and Capital
Resources





As of
June 30, 2010, we had cash and cash equivalents of $1,072,122, primarily
consisting of cash on hand and demand deposits. The following table provides
detailed information about our net cash flow for all financial statement periods
presented in this report. To date, we have financed our operations primarily
through cash flows from operations and equity contributions by our
shareholders.





The
following table sets forth a summary of our cash flows for the periods
indicated:





Six Months EndedJune 30,2010
                  
                  
                  2009Net
      cash provided by operating activities
                  
                  $
                  3,773,969
                  
                  
                  $
                  2,536,980Net
      cash used in investing activities
                  
                  
                  (108,635
                  )
                  
                  
                  (519
                  )Net
      cash used in financing activities
                  
                  
                  (2,608,659
                  )
                  
                  
                  (2,784,036
                  )Effects
      of Exchange Rate Change in Cash
                  
                  
                  4,147
                  
                  
                  
                  714Net
      (Decrease) Increase in Cash and Cash Equivalents
                  
                  
                  1,060,822
                  
                  
                  
                  (246,861
                  )Cash
      and Cash Equivalent at Beginning of the Year
                  
                  
                  11,300
                  
                  
                  
                  479,902Cash
      and Cash Equivalent at End of the Year
                  
                  
                  1,072,122
                  
                  
                  
                  233,041





Operating
activities





Net cash
provided by operating activities was $3,773,969 for the six months ended June
30, 2010, as compared to $2,536,980 for the same period in 2009. The change is
attributable to the increase of net income for current period, the decrease of $
1,554,439 accounts receivable, increase of $400,477 in accounts
payable.


17





Investing
activities





Net cash
used in investing activities for the six months ended June 30, 2010 was
$108,635, as compared to $519 during the same period of 2009. The change is
attributable to the acquisition of intangible assets.





Financing
activities





Net cash
used in financing activities for the six months ended June 30, 2010 was
$2,608,659, as compared to net cash used in financing activities of $2,784,036
in the same period of 2009. The change is attributable to the change in receipts
from related parties and outside parties.





We
believe that our cash on hand and cash flow from operations will meet part of
our present cash needs and we will require additional cash resources, to meet
our expected capital expenditure and working capital for the next 12 months. We
may, however, in the future, require additional cash resources due to changed
business conditions, implementation of our strategy to ramp up our marketing
efforts and increase brand awareness, or acquisitions we may decide to pursue.
If our own financial resources are insufficient to satisfy our capital
requirements, we may seek to sell additional equity or debt securities or obtain
additional credit facilities. The sale of additional equity securities could
result in dilution to our stockholders. The incurrence of indebtedness would
result in increased debt service obligations and could require us to agree to
operating and financial covenants that would restrict our operations. Financing
may not be available in amounts or on terms acceptable to us, if at all. Any
failure by us to raise additional funds on terms favorable to us, or at all,
could limit our ability to expand our business operations and could harm our
overall business prospects.





Inflation





Inflation
and changing prices have not had a material effect on our business and we do not
expect that inflation or changing prices will materially affect our business in
the foreseeable future. However, our management will closely monitor the price
change in travel industry and continually maintain effective cost control in
operations.





Off Balance Sheet
Arrangements





We do not
have any off balance sheet arrangements that have or are reasonably likely to
have a current or future effect on our financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity or capital
expenditures or capital resources that is material to an investor in our
securities.





Seasonality





We may
experience seasonal fluctuations in some regions in the PRC, based on the
seasonal changes in the weather.Any seasonality may
cause significant pressure on us to monitor the development of materials
accurately and to anticipate and satisfy these requirements.





Our
products growth is subject to the weather condition. In the winter period our
products mostly will be hibernated.





Critical
Accounting Policies


Principles
of Consolidation
 
 The
accompanying consolidated financial statements include the financial statements
of iDcentrix, its wholly owned subsidiaries, Honour Bond and Zhihao as well as
Dandong Longsheng, Zhihao’s VIE. All significant inter-company balances and
transactions have been eliminated in consolidation.
 
 Use of
estimates
 
 The
preparation of consolidated financial statements in conformity with US GAAP
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the dates of the consolidated financial statements and the
amounts of revenues and expenses during the reporting periods. Management
makes these estimates using the best information available at the time the
estimates are made.  However, actual results could differ materially
from those results.
 
 Risks and
uncertainties
 
 The
Company is subject to substantial risks from, among other things, intense
competition associated with the industry in general, other risks associated with
financing, liquidity requirements, rapidly changing customer requirements,
limited operating history, foreign currency exchange rates and the volatility of
public markets.
 
 Foreign currency
translation
 
 The
functional currency of the Company is the Chinese Renminbi (“RMB”). For
financial reporting purposes, RMB has been translated into United States dollars
("USD") as the reporting currency. Assets and liabilities are translated at the
exchange rate in effect at the balance sheet date. Income statement accounts are
translated at the average rate of exchange prevailing for the period. Capital
accounts are translated at their historical exchange rates when the capital
transaction occurred. Translation adjustments arising from the use of different
exchange rates from period to period are included as a component of
stockholders' equity as "Accumulated other comprehensive income." Gains and
losses resulting from foreign currency translation are included in accumulated
other comprehensive income.
 
 Cash and cash
equivalents
 
 The
Company considers all highly liquid investments with an original maturity of
three months or less to be cash equivalents.
 
 Accounts
receivable
 
 Accounts
receivables are recorded at net realizable value consisting of the carrying
amount less an allowance for uncollectible amounts, as needed.
 
 The
Company uses the aging method to estimate the valuation allowance for
anticipated uncollectible receivable balances. Under the aging method, bad debt
percentages determined by management based on historical experience as well as
current economic climate are applied to customers’ balances categorized by the
number of months the underlying invoices have remained outstanding. The
valuation allowance balance is adjusted to the amount computed as a result of
the aging method. When facts subsequently become available to indicate that the
allowance provided requires an adjustment, then the adjustment will be
classified as a change in estimate. There were no allowances for uncollectible
amounts for the six months ended June 30, 2010 and the year ended December 31,
2009 as the management believes all amounts are considered
collectible.
 
 Inventories
 
 Inventories
are stated at the lower of cost (determined on a weighted average basis) or
market.  The management compares the cost of inventories with the fair
market value and an allowance is made for writing down the inventories to fair
market value, if lower than the cost. As of June 30, 2010 and December 31, 2010,
there were no reserves for obsolete inventory.
  18
  Revenue
recognition
 
 The
Company recognizes sales in accordance with the United States Securities and
Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) No. 104, “Revenue
Recognition”.  The Company recognizes revenue when the following
fundamental criteria are met: (i) persuasive evidence of an arrangement exists,
(ii) delivery has occurred or services have been rendered, (iii) the price to
the customer is fixed or determinable and (iv) collection of the resulting
receivable is reasonably assured.  Revenue is not recognized until
title and risk of loss is transferred to the customer, which occurs upon
delivery of goods, and objective evidence exists that customer acceptance
provisions have been met.  Deposits or advance payments from customers
prior to delivery of goods and passage of title of goods are recorded as advance
from customers.
 
 Property, plant and
equipment
 
 Property,
plant and equipment are recorded at cost.  Gains or losses on
disposals are reflected as gain or loss in the year of disposal.  The
cost of improvements that extend the life of plant, property, and equipment are
capitalized.  These capitalized costs may include structural
improvements, equipment, and fixtures.  All ordinary repair and
maintenance costs are expensed as incurred.
 
 Depreciation
for financial reporting purposes is provided using the straight-line method over
the following estimated useful lives of the assets:
 
 Estimated Useful Life
                      
                      Residual valueMachinery
      and equipment
                      5-10
      years
                      
                      
                      5
                      %Vehicle
                      10
      years
                      
                      
                      5
                      %
 
 Impairment of long-lived
assets
 
 Long-lived
assets, which include property, plant and equipment, are reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount of
an asset may not be recoverable. Recoverability of long-lived assets to be held
and used is measured by a comparison of the carrying amount of an asset to the
estimated undiscounted future cash flows expected to be generated by the assets.
If the carrying amount of an asset exceeds its estimated undiscounted future
cash flows, an impairment charge is recognized by the amount by which the
carrying amount of the asset exceeds the fair value of the assets. Fair value is
generally determined using the asset’s expected future discounted cash flows or
market value, if readily determinable.
 
 There was
no impairment loss recorded for the six months ended June 30, 2010 and
2009.
 
 Concentration of credit
risk
 
 Financial
instruments that potentially subject the Company to significant concentrations
of credit risk consist of cash and cash equivalents and accounts and other
receivables. As of June 30, 2010, most of the Company's cash and cash
equivalents were held by major banks located in China, which the Company's
management believes are of high credit quality. With respect to accounts
receivable, the Company conducts periodic reviews of its customers' financial
condition and customer payment practices to minimize collection risk on accounts
receivable.
 
 Earnings per
share
 
 Earnings
per share are calculated in accordance with the ASC 260, “Earnings per share.”
Basic net earnings per share are based upon the weighted average number of
common shares outstanding, but excluding shares issued as compensation that have
not yet vested. Diluted net earnings per share are based on the assumption that
all dilutive convertible shares and stock options were converted or exercised,
and that all unvested shares have vested.  Dilution is computed by
applying the treasury stock method. Under this method, options and warrants are
assumed to be exercised at the beginning of the period (or at the time of
issuance, if later), and as if funds obtained thereby were used to purchase
common stock at the average market price during the period.
  19
  Income
taxes
 
 The
Company accounts for income tax under the provisions of ASC 740,"Accounting for
Income Taxes", which requires recognition of deferred tax assets and liabilities
for the expected future tax consequences of events that have been included in
the financial statements or tax returns. Under this method, deferred income
taxes are recognized for the tax consequences in future years of differences
between the tax bases of assets and liabilities and their financial reporting
amounts at each period end based on enacted tax laws and statutory tax rates
applicable to the periods in which the differences are expected to affect
taxable income. Valuation allowances are established, whenever necessary,
against net deferred tax assets when it is more likely than not that some
portion or all of the deferred tax asset will not be realized. The Company did
not have any deferred tax asset or liabilities in the any tax jurisdiction for
the six months ended June 30, 2010 and the year ended 2009.
 
 Fair values of financial
instruments
 
 The
Company’s financial instruments include cash and cash equivalents, accounts
receivable, advances to suppliers, other receivables, prepaid expenses, accounts
payable, accrued expenses, and other loans payable. Management has estimated
that the carrying amounts approximate their fair value due to the short-term
nature.
 
 Statement of cash
flows
 
 In
accordance with ASC 230, "Statements of Cash Flows", cash flows from the
Company’s operations is calculated based upon the local currencies. As a result,
amounts related to assets and liabilities reported on the statement of cash
flows may not necessarily agree with changes in the corresponding balances on
the balance sheet.
  20




Item
3.  Quantitative and Qualitative Disclosures About Market
Risk





Not
applicable.





Item
4. Controls and Procedures





Disclosure
Controls and Procedures





Management,
with the participation of our Chief Executive Officer and Chief Financial
Officer, carried out an evaluation of the effectiveness of our “disclosure
controls and procedures” (as defined in Rules 13a-15(e) and 15d-15(e) under the
Securities Exchange Act of 1934 (the “Exchange Act”) as of the end of the period
covered by this quarterly report (the “Evaluation Date”). Based upon that
evaluation, our Chief Executive Officer and Chief Financial Officer concluded
that, as of the Evaluation Date, our disclosure controls and procedures were not
effective to ensure that information required to be disclosed by us in the
reports that we file or submit under the Exchange Act (i) is recorded,
processed, summarized and reported within the time periods specified in the
SEC’s rules and forms, and (ii) is accumulated and communicated to our
management, including our Chief Executive Officer and Chief Financial Officer,
as appropriate to allow timely decisions regarding required disclosure.




Changes in Internal Control Over
Financial Reporting.  There were no changes in our internal
control over financial reporting that occurred during the three months ending
June 30, 2010 that have materially affected, or are reasonably likely to
materially affect, our internal control over financial
reporting.


21





PART
II. OTHER INFORMATION


Item
1. Legal Proceedings





Not
applicable.





Item
1A. Risk Factors





Not
applicable.





Item
2. Unregistered Sales of Equity Securities and Use of Proceeds





Not
applicable.





Item
3. Defaults Upon Senior Securities





Not
applicable.





Item
5. Other Information





Not
applicable.





Item
6. Exhibits





Exhibit
                Number
              
              Description of Exhibit31.1
              
              Certification
      of Chief Executive Officer and Chief Financial Officer pursuant to Section
      302 of the Sarbanes-Oxley Act of 2002*32.1
              
              Certifications
      of Chief Executive Officer and Chief Financial Officer pursuant to 18
      U.S.C. Section 1350, as adopted pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002*





*
              Filed
      herewith





22


SIGNATURES


Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned thereunto
duly authorized.





iDcentrix,
      Inc.Date:
      August 23, 2010
                    
                    /s/ Guang ZhaoGuang
      ZhaoChief
      Executive OfficerDate:
      August 23, 2010
                    
                    /s/ Guang ZhaoGuang
      ZhaoChief
      Financial
Officer




23





EXHIBIT
INDEX





Exhibit
                Number
              
              Description of Exhibit31.1
              
              Certification
      of Chief Executive Officer and Chief Financial Officer pursuant to Section
      302 of the Sarbanes-Oxley Act of 2002*32.1
              
              Certifications
      of Chief Executive Officer and Chief Financial Officer pursuant to 18
      U.S.C. Section 1350, as adopted pursuant to Section 906 of the
      Sarbanes-Oxley Act of 2002*





*
              Filed
      herewith


24