UNITED
STATES


SECURITIES
AND EXCHANGE COMMISSION


Washington,
D.C. 20549




FORM
10-K




Annual
Report Pursuant to Section 13 or 15(D) of the Securities Exchange Act of
1934




for the
fiscal year ended June 30,
2010




Transition
Report Under Section 13 or 15(D) of the Securities Exchange Act of
1934




for the
transition period from _______________ to _______________




Commission
File Number:  333-153888




ASIA DOCUMENT TRANSITION,
INC.


(Exact
name of small Business Issuer as specified in its charter)




Nevada
              20-4889194(State
      or other jurisdiction of incorporation or
              (IRS
      Employer Identification No.)organization)15D,
      Eton Building
                288
      Des Voeux Road
                Central
      Hong Kong
              n/a(Address
      of principal executive offices)
              (Zip
      Code)




Issuer's
telephone number, including area code: 011/852-2545-9133




n/aFormer
      address if changed since last
report




Securities
registered under Section 12(b) of the Exchange Act:   None




Securities
registered under Section 12(g) of the Exchange Act:




Common Stock, par value
$0.001 per share




Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in
Rule 405 of the Securities Act.   ̈
YES   x NO





Indicate
by check mark if the registrant is not required to file reports pursuant to
Section 13 or Section 15(d) of the Act.   ̈
YES   x NO





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
the past 90 days.  x
YES    ̈ NO





Indicate
by check mark whether the registrant has submitted electronically and posted on
its corporate Website, if any, every Interactive Data File required to be
submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding
12 months (or for such shorter period that the registrant was required to submit
and post such files).  N/A





Indicate
by check mark if disclosure of delinquent filers pursuant to Item 405 of
Regulation S-K is not contained herein, and will not 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-K or any amendment to this
Form 10-K.  x





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.





Large Accelerated
              Filer  ̈
            
            Accelerated
              Filer  ̈
            
            Non-Accelerated Filer  ̈ (Do not check if a
              smaller reporting company)
            
            Smaller Reporting Company
              þ




Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act).


 ̈ Yes x No




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
last sold, or the average bid and asked price of such common equity, as of the
last business day of the registrant’s most recently completed second fiscal
quarter:   The aggregate market value cannot be calculated as
there does not exist any market for the registrant’s common stock.




Indicate
the number of shares outstanding of each of the issuer's classes of common
equity, as of the latest practicable date: 25,000,000 shares of common stock as
of September 1, 2010.









TABLE
OF CONTENTS




PART
      IITEM
      1.
                    
                    BUSINESS
                    3ITEM
      1A.
                    
                    RISK
      FACTORS
                    4ITEM
      1B.
                    
                    UNRESOLVED
      STAFF COMMENTS
                    11ITEM
      2.
                    
                    PROPERTIES
                    11ITEM
      3.
                    
                    LEGAL
      PROCEEDINGS
                    11ITEM
      4.
                    
                    SUBMISSION
      OF MATTERS TO A VOTE OF SECURITY HOLDERS
                    11PART
      IIITEM
      5.
                    
                    MARKET
      FOR REGISTRANTS COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER
      PURCHASES OF EQUITY SECURITIES
                    12ITEM
      6.
                    
                    SELECTED
      FINANCIAL DATA
                    12ITEM
      7.
                    
                    MANAGEMENT’S
      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
      OPERATION
                    13ITEM
      7A.
                    
                    QUANTITATIVE
      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
                    17ITEM
      8.
                    
                    FINANCIAL
      STATEMENTS AND SUPPLEMENTARY DATA
                    17ITEM
      9.
                    
                    CHANGES
      IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
      DISCLOSURE
                    19ITEM
      9A.
                    
                    CONTROLS
      AND PROCEDURES
                    19ITEM
      9B.
                    
                    OTHER
      INFORMATION
                    20PART
      IIIITEM
      10.
                    
                    DIRECTORS,
      EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
                    20ITEM
      11.
                    
                    EXECUTIVE
      COMPENSATION
                    21ITEM
      12.
                    
                    SECURITY
      OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED
      STOCKHOLDER MATTERS
                    22ITEM
      13.
                    
                    CERTAIN
      RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR
      INDEPENDENCE
                    23ITEM
      14
                    
                    PRINCIPAL
      ACCOUNTANT FEES AND SERVICES
                    23PART
      IVITEM
      15.
                    
                    EXHIBITS,
      FINANCIAL STATEMENT SCHEDULES
                    25SIGNATURES
                    26


2


FORWARD
LOOKING STATEMENTS




Forward-Looking
Statements




This
Annual Report on Form 10-K (the “Report”), including ”Management’s Discussion
and Analysis of Financial Condition and Results of Operations” in Item 7
contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 regarding future events and the future results of
Asia Document Transition, Inc. and its consolidated subsidiaries (the “Company”)
that are based on management’s current expectations, estimates, projections and
assumptions about the Company’s business. Words such as “expects,”
“anticipates,” “intends,” “plans,” “believes,” “sees,” “estimates” and
variations of such words and similar expressions are intended to identify such
forward-looking statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are difficult
to predict. Therefore, actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements due to
numerous factors, including, but not limited to, those discussed in the “Risk
Factors” section in Item 1A, “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in Item 7 and elsewhere in
this Report as well as those discussed from time to time in the Company’s other
Securities and Exchange Commission filings and reports. In addition, such
statements could be affected by general industry and market conditions. Such
forward-looking statements speak only as of the date of this Report or, in the
case of any document incorporated by reference, the date of that document, and
we do not undertake any obligation to update any forward-looking statement to
reflect events or circumstances after the date of this Report. If we update or
correct one or more forward-looking statements, investors and others should not
conclude that we will make additional updates or corrections with respect to
other forward-looking statements.




PART
I




ITEM
      1.
            BUSINESS.




Background




Asia
Document Transition, Inc. (“ADT”) was incorporated in the State of Nevada on
April 13, 2006 as a wholly owned subsidiary of Cell Source Research Inc., a
Nevada corporation. ADT has generated limited revenue and is still a development
stage corporation. ADT’s plan of operations is to provide (a) document
formatting (“Edgarizing”), and electronic filing services to companies and
individuals that desire to submit filings, such as annual and quarterly reports,
prospectuses, registration statements, and other documents pursuant to the
federal securities laws, to the United States Securities and Exchange Commission
(“SEC”), via EDGAR, the SEC's electronic data gathering analysis and retrieval
system and (b) provide virtual office services consisting of providing phone
numbers, fax numbers and mail delivery addresses to local and foreign companies
desirous of establishing a presence in Hong Kong (“Virtual Office”). We
commenced both our Edgarizing and Virtual Office operations in April 2006.
However, we temporarily ceased the operations of our Edgarizing business at the
beginning of year 2008, and we have not resumed the operations of this
Edgarizing business as of this date.  On April 13, 2006, the Company issued
125,000 shares of its common stock to Cell Source Research, Inc. in exchange for
services valued at $1,000.00. Cell Source Research, Inc. recently distributed
its shares of the Company’s stock in a dividend to its shareholders.  On
April 17, 2006, the Company issued 375,000 shares of its common stock to V3
Consulting, Inc., an outside consultant, for services valued at $3,000.00. On
April 26, 2006, ADT acquired all the issued and outstanding shares of Vast
Opportunity Limited, a Hong Kong Incorporated Limited Company through the
issuance a total of 24,500,000 shares of the Common Shares to 6
shareholders.





Our
Business Generally




VIRTUAL
OFFICE SERVICES:





We
currently provide virtual office services intended to allow local and foreign
companies to establish a presence in Hong Kong at minimum cost. Many companies
require a presence in Hong Kong to facilitate the business they conduct in the
Greater China area. The use of a “virtual office” is a very cost-effective
alternative to the establishment of specifically dedicated offices in Hong Kong,
where office space is at a premium and lease rates are quite high on a worldwide
standard. In addition, by using a virtual office, the client is not making a
long-term financial commitment to its presence in the market.  Each client
is assigned a dedicated phone number, a fax number and mail address. The phone
number can be forwarded to a number assigned by the client, or be answered by a
well-trained individual who takes care of the communication for the client. We
also provide Internet access (we have wireless broadband internet access in our
office which can be accessed by clients utilizing wireless capable laptops which
they provide) and a temporary meeting room, consisting of 10 square meters of
space, for our clients. Advanced booking is required for use of the meeting room
and /or Internet access for which the client will incur an additional charge on
an as-needed basis. These services started generating revenue in 2006 and a
monthly fixed fee is charged for each account based on the level of services
chosen by each individual client. These services are provided on a
month-to-month basis with fees paid in advance of the month in which these
services are to be provided.


3





Our
virtual office service packages are broken up into three categories for client’s
to choose from:





A) Basic
Package: Mailing address only





B) Dual
Package: Phone and fax numbers only





C)
Premium Package: Mailing address, phone and fax numbers





Prices of
these packages are on a case-by-case basis and vary according to negotiation,
term, volume and usage. The following reflects our current pricing for virtual
office services:





A) Basic
Package: Mailing address only, $100 to $250




B) Dual
Package: Phone and fax numbers only, $150 to $350




C)
Premium Package: A + B above, $300 to $550




Other
packages including internet access are also available a negotiated fee
basis.




Since
inception, we have been charged between $250 and $550 per month per client on a
case-by-case basis for an all-in-one package which include the provisions of
desk space, internet access, cleaning, phone and fax numbers.





EDGARIZING:





We
commenced both our Edgarizing and Virtual Office operations in April 2006.
However, we temporarily ceased the operations of our Edgarizing business at the
beginning of year 2008, and we have not resumed the operations of this
Edgarizing business as of this date.




Employees




As of
June 30, 2010, the Company had one part-time employee.




ITEM
1A.  RISK FACTORS




Risk
Factors





There
are several material risks associated with the Company.  You should
carefully consider the risks and uncertainties described below, which constitute
all of the material risks relating to the Company.  If any of the following
risks are realized, our business, operating results and financial condition
could be harmed.  This means investors could lose all or a part of their
investment.


4


Risks
Related to Our Financials





Our
independent auditors have expressed substantial doubt about our ability to
continue as a going concern, which may hinder our ability to continue as a going
concern and our ability to obtain future financing.





In their
report dated September 22, 2010, our independent auditors stated that our
financial statements for the period ended June 30, 2010 were prepared assuming
that we would continue as a going concern. Our ability to continue as a going
concern is an issue raised as a result of recurring losses from operations and
cash flow deficiencies since our inception. We continue to experience net
losses. Our ability to continue as a going concern is subject to our ability to
generate a profit and/or obtain necessary funding from outside sources,
including obtaining additional funding from the sale of our securities,
increasing sales or obtaining loans and grants from various financial
institutions where possible. If we are unable to continue as a going concern,
you may lose your entire investment.




We
were formed on April 13, 2006 and have a limited operating history and,
accordingly, you will not have any basis on which to evaluate our ability to
achieve our business objectives.





We are a
development stage company with limited operating results to date. Since we do
not have an established operating history or regular sales yet, you will have no
basis upon which to evaluate our ability to achieve our business
objectives.





The
absence of any significant operating history for us makes forecasting our
revenue and expenses difficult, and we may be unable to adjust our spending in a
timely manner to compensate for unexpected revenue shortfalls or unexpected
expenses.





As a
result of the absence of any operating history for us, it is difficult to
accurately forecast our future revenue. In addition, we have limited meaningful
historical financial data upon which to base planned operating expenses. Current
and future expense levels are based on our operating plans and estimates of
future revenue. Revenue and operating results are difficult to forecast because
they generally depend on our ability to promote and sell our services. As a
result, we may be unable to adjust our spending in a timely manner to compensate
for any unexpected revenue shortfall, which would result in further substantial
losses. We may also be unable to expand our operations in a timely manner to
adequately meet demand to the extent it exceeds expectations.





Our
limited operating history does not afford investors a sufficient history on
which to base an investment decision.





We were
formed on April 13, 2006 and are currently in the early stages of developing our
business. There can be no assurance that at this time that we will operate
profitably or that we will have adequate working capital to meet our obligations
as they become due.





Investors
must consider the risks and difficulties frequently encountered by early stage
companies, particularly in rapidly evolving markets. Such risks include the
following:





·
            ·competition;





·
            ·ability to anticipate and adapt to a competitive
      market;





·
            ·ability to effectively manage expanding
  operations;





·
            ·amount and timing of operating costs and capital expenditures
      relating toexpansion
      of our business, operations, and infrastructure;
  and





·
            ·dependence upon key personnel to market and sell our services and
      the lossof
      one of our key managers may adversely affect the marketing of our
      services.





We cannot
be certain that our business strategy will be successful or that we will
successfully address these risks. In the event that we do not successfully
address these risks, our business, prospects, financial condition, and results
of operations could be materially and adversely affected and we may not have the
resources to continue or expand our business operations.


5





We
have no profitable operating history and May Never Achieve
Profitability




The
Company commenced operations in 2006 and to date has operated on a relatively
small scale. Through June 30, 2010, the Company has an accumulated deficit of
$158,957 notwithstanding the fact that the principals of the Company have worked
without salary and the Company has operated with minimal overhead. We are an
early stage company and have a limited history of operations and have not
generated meaningful revenues from operations since our inception. We are faced
with all of the risks associated with a company in the early stages of
development. Our business is subject to numerous risks associated with a
relatively new, low-capitalized company engaged in our business sector. Such
risks include, but are not limited to, competition from well-established and
well-capitalized companies, and unanticipated difficulties regarding the
marketing and sale of our services. There can be no assurance that we will ever
generate significant commercial sales or achieve profitability. Should this be
the case, our common stock could become worthless and investors in our common
stock or other securities could lose their entire investment.





Risks
Related to Our Business





Dependence
on the Founder, without whose services Company business operations could
cease.




At this
time, the sole officer and director of the Company is Bernard Chan, who is
wholly responsible for the development and execution of our business. Mr. Chan
is under no contractual obligation to remain employed by us, although he has no
present intent to leave. If Mr. Chan should choose to leave us for any reason
before we have hired additional personnel our operations may fail. Even if we
are able to find additional personnel, it is uncertain whether we could find
qualified management who could develop our business along the lines described
herein or would be willing to work for compensation the Company could afford.
Without such management, the Company could be forced to cease operations and
investors in our common stock or other securities could lose their entire
investment.




Our
sole officer and director devotes limited time to the Company’s business and is
engaged in other business activities




At this
time, the sole officer and director of the Company, Bernard Chan, does not
devote his full-time attention to the Company’s business. Currently, while the
Company is in the development stage, Mr. Chan devotes approximately ten hours
per week to the Company’s business, which he believes is sufficient to operate
the business as it is presently constituted. Based upon the growth of the
business, Mr. Chan would intend to employ additional consultant, part-time and
full-time support for the business once the Company becomes a “reporting
company” and such is warranted by the business of the Company. At the present
time, Mr. Chan believes that he has sufficient resources at hand to manage the
Company’s financial and other reporting requirements. The limited time devoted
to the Company’s business could adversely affect the Company’s business
operations and prospects for the future. Without full-time devoted management,
the Company could be forced to cease operations and investors in our common
stock or other securities could lose their entire investment.




Concentrated
control risks; shareholders could be unable to control or influence key
corporate actions or effect changes in the Company’s board of directors or
management.




Our
principal shareholder, Bernard Chan, owns 18,850,000 shares of our common stock,
representing approximately 75.4% of the voting control of the Company. In
addition, Mr. Chan is the sole officer and director of the Company. Mr. Chan
therefore has the power to make all major decisions regarding our affairs,
including decisions regarding whether or not to issue stock and for what
consideration, whether or not to sell all or substantially all of our assets and
for what consideration and whether or not to authorize more stock for issuance
or otherwise amend our charter or bylaws. Mr. Chan is in a position to elect all
of our directors and to dictate all of our policies.


6


Lack
of employment agreements with key management risking potential of the loss of
the Company’s top management




We do not
currently have an employment agreement with Mr. Chan or key man insurance on Mr.
Chan’s life. Our future success will depend in significant part on our ability
to retain and hire key management personnel. Competition for such personnel is
intense and there can be no assurance that we will be successful in attracting
and retaining such personnel. Without such management, the Company could be
forced to cease operations and investors in our common stock or other securities
could lose their entire investment.




Lack
of additional working capital may cause curtailment of any expansion plans while
raising of capital through sale of equity securities would dilute existing
shareholders’ percentage of ownership




Our
available capital resources will not be adequate to fund our working capital
requirements based upon our present level of operations for the 12-month period
subsequent to July 1, 2010. A shortage of capital would affect our ability to
fund our working capital requirements. If we require additional capital, funds
may not be available on acceptable terms, if at all. In addition, if we raise
additional capital through the sale of equity or convertible debt securities,
the issuance of these securities could dilute existing shareholders. If funds
are not available, we could be placed in the position of having to cease all
operations.




We
do not presently have a traditional credit facility with a financial
institution. This absence may adversely affect our operations




We do not
presently have a traditional credit facility with a financial institution. The
absence of a traditional credit facility with a financial institution could
adversely impact our operations. If adequate funds are not otherwise available,
we may be required to delay, scale back or eliminate portions of our operations
and product development efforts. Without such credit facilities, the Company
could be forced to cease operations and investors in our common stock or other
securities could lose their entire investment.




Our
inability to successfully achieve a critical mass of sales could adversely
affect our financial condition




No
assurance can be given that we will be able to successfully achieve a critical
mass of sales in order to cover our operating expenses and achieve sustainable
profitability. Without such critical mass of sales, the Company could be forced
to cease operations.




Many
companies with greater resources and operating experience offer services similar
to the services we sell. These companies could successfully compete with us and
negatively affect our opportunity to achieve profitability




We
operate in a competitive industry with many established and well-recognized
competitors. In particular, Vintage Filings and certain similar enterprises
maintain a dominant position in our principal business sectors. Such entities
may have significantly more extensive customer relationships, longer operating
histories and industry experience, greater financial, technical, sales,
marketing and other resources, more name recognition and larger customer bases
than we do and potentially may react strongly to our marketing efforts. In
addition, many competitors exist who, because of their substantial resources,
customer relationships and customer base, could temporarily drop prices to be
more competitive with our Company. Other competitive responses might include,
without limitation, intense and aggressive price competition and offers of
employment to our key marketing or management personnel. There can be no
assurance that we will be successful in the face of increasing competition from
existing or new competitors, or that competition will not have a material
adverse effect on our business, financial condition and results of operations.
If we are not successful in competing with our competitors, the Company’s
revenue stream could suffer and we could be forced to cease
operations.




Our
sales and marketing efforts have yielded limited revenues and there can be no
assurance that our future sales and marketing efforts will lead to increased
sales of our services.




Our sales
and marketing efforts have yielded limited revenues to date and we believe we
will have to significantly expand our sales and marketing capabilities in order
to establish sufficient awareness to launch broader sales of our services. There
can be no assurance that we will be able to expand our sales and marketing
efforts to the extent we believe necessary or that any such efforts, if
undertaken, will be successful in achieving substantial sales of our services.
If we are unable to expand our sales and marketing efforts, the Company could be
in a position where it never reaches a critical mass of business and
profitability.


7




There
could be changes in the manner documents are processed for filing and filed with
the U.S. Securities and Exchange Commission, which could render our document
conversion systems obsolete.




Assuming
that we resume document formatting and electronic filing services, changes in
the manner documents are filed with the U.S. Securities and Exchange Commission
could render our document formatting services obsolete and we may not be able to
adapt to any new formats or procedures. If we are unable to provide
state-of-the-art service offerings, the Company could be placed in an
uncompetitive posture and face suspension of operations.




The
average selling prices of our services and our gross margins resulting from the
sale of our services may decline as a result of competitive pressures, industry
trends and other factors.




The
document formatting business is subject to intense competitive pressures where
customers often view the services provided as an undifferentiated commodity.
Average service selling prices vary due to a number of factors, particularly
competitive and macroeconomic pressures. Our competitors have and will likely
continue to lower sales prices from time to time in order to gain greater market
share. We may have to reduce the sales prices of our services in response to
such intense pricing competition, which could cause our gross margins to decline
and may adversely affect our business, operating results or financial condition.
If we cannot maintain adequate profit margins on the sales of our services, the
Company could deplete its working capital and be forced to cease
operations.




Our
success is substantially dependent on general economic conditions and business
trends, particularly in the document formatting business, a downturn of which
could adversely affect our operations




The
success of our operations depends to a significant extent upon a number of
factors relating to business spending. These factors include economic
conditions, activity in the financial markets, general business conditions,
personnel cost, inflation, interest rates and taxation. Our business is affected
by the general condition and economic stability of our customers and their
continued willingness to work with us in the future. An overall decline in the
demand for document formatting services could cause a reduction in our sales and
the Company could face a situation where it never achieves a critical mass of
sales and thereby be forced to cease operations. Our business could also be
significantly affected by business conditions in China. Since October 2008, the
world economy has experienced deteriorating economic conditions which have not
only reduced the number of new securities offering but have also caused
companies to reassess the costs of maintaining a virtual presence in Hong Kong.
We expect these conditions, if they persist, could have a profound and
long-lasting negative impact on our business and limit the number of our
prospective customers.




Our
failure to manage growth effectively could impair our success




In order
for us to expand successfully, management will be required to anticipate the
changing demands of a growth in operations, should such growth occur, and to
adapt systems and procedures accordingly. There can be no assurance that we will
anticipate all of the changing demands that a potential expansion in operations
might impose. If we were to experience rapid growth, we might be required to
hire and train a large number of sales and support personnel, and there can be
no assurance that the training and supervision of a large number of new
employees would not adversely affect the high standards that we seek to
maintain. Our future will depend, in part, on our ability to integrate new
individuals and capabilities into our operations, should such operations expand
in the future, and there can be no assurance that we will be able to achieve
such integration. We will also need to continually evaluate the adequacy of our
management information systems, including our web site. Failure to upgrade our
information systems or unexpected difficulties encountered with these systems
during an expansion in our operations (should such an expansion occur) could
adversely affect our business, financial condition and results of
operations.




Changes
in generally accepted accounting principles could have an adverse effect on our
business financial condition, cash flows, revenue and results of
operations




We are
subject to changes in and interpretations of financial accounting matters that
govern the measurement of our performance. Based on our reading and
interpretations of relevant guidance, principles or concepts issued by, among
other authorities, the American Institute of Certified Public Accountants, the
Financial Accounting Standards Board, and the United States Securities and
Exchange Commission, our management believes that our current contract terms and
business arrangements have been properly reported. However, there continue to be
issued interpretations and guidance for applying the relevant standards to a
wide range of contract terms and business arrangements that are prevalent in the
industries in which we operate. Future interpretations or changes by the
regulators of existing accounting standards or changes in our business practices
could result in future changes in our revenue recognition and/or other
accounting policies and practices that could have a material adverse effect on
our business, financial condition, cash flows, revenue and results of
operations.


8





Some
of our competitors are more established and better capitalized than we are and
we may be unable to establish market share.





Some of
our competitors are well-known, more established and better capitalized than we
are. As such, they may have at their disposal greater marketing strength and
economies of scale. They may also have more resources to expend on sales and
marketing in competition with us. Accordingly, we may not be successful in
competing with them for market share.





We
will need to increase the size of our organization, and may experience
difficulties in managing growth.





We are a
small company with minimal employees. We expect to experience a period of
significant expansion in headcount, facilities, infrastructure and overhead and
anticipate that further expansion will be required to address potential growth
and market opportunities. Future growth will impose significant added
responsibilities on members of management, including the need to identify,
recruit, maintain and integrate managers. Our future financial performance and
its ability to compete effectively will depend, in part, on its ability to
manage any future growth effectively.




We
are subject to compliance with securities law, which exposes us to potential
liabilities, including potential rescission rights.





We have
offered and sold our common stock to investors pursuant to certain exemptions
from the registration requirements of the Securities Act of 1933, as well as
those of various state securities laws. The basis for relying on such exemptions
is factual; that is, the applicability of such exemptions depends upon our
conduct and that of those persons contacting prospective investors and making
the offering. We have not received a legal opinion to the effect that any of our
prior offerings were exempt from registration under any federal or state law.
Instead, we have relied upon the operative facts as the basis for such
exemptions, including information provided by investors themselves.





If any
prior offering did not qualify for such exemption, an investor would have the
right to rescind its purchase of the securities if it so desired. It is possible
that if an investor should seek rescission, such investor would succeed. A
similar situation prevails under state law in those states where the securities
may be offered without registration in reliance on the partial preemption from
the registration or qualification provisions of such state statutes under the
National Securities Markets Improvement Act of 1996. If investors were
successful in seeking rescission, we would face severe financial demands that
could adversely affect our business and operations. Additionally, if we did not
in fact qualify for the exemptions upon which it has relied, we may become
subject to significant fines and penalties imposed by the SEC and state
securities agencies.





We
incur costs associated with SEC reporting compliance.





The
Company made the decision to become an SEC “reporting company” in order to
comply with applicable laws and regulations. We incur certain costs of
compliance with applicable SEC reporting rules and regulations including, but
not limited to attorneys fees, accounting and auditing fees, other professional
fees, financial printing costs and Sarbanes-Oxley compliance costs in an amount
estimated at approximately $25,000 per year. On balance, the Company determined
that the incurrence of such costs and expenses was preferable to the Company
being in a position where it had very limited access to additional capital
funding.





The
availability of a large number of authorized but unissued shares of common stock
may, upon their issuance, lead to dilution of existing
stockholders.





We are
authorized to issue 100,000,000 shares of common stock, $0.001 par value per
share, of which, as of June 30, 2010, 25,000,000 shares of common stock were
issued and outstanding. These shares may be issued by our board of directors
without further stockholder approval. The issuance of large numbers of shares,
possibly at below market prices, is likely to result in substantial dilution to
the interests of other stockholders. In addition, issuances of large numbers of
shares may adversely affect the market price of our common
stock.


9





We
may need additional capital that could dilute the ownership interest of
investors.





We
require substantial working capital to fund our business. If we raise additional
funds through the issuance of equity, equity-related or convertible debt
securities, these securities may have rights, preferences or privileges senior
to those of the rights of holders of our common stock and they may experience
additional dilution. We cannot predict whether additional financing will be
available to us on favorable terms when required, or at all. Since our
inception, we have experienced negative cash flow from operations and expect to
experience significant negative cash flow from operations in the future. The
issuance of additional common stock by our management, may have the effect of
further diluting the proportionate equity interest and voting power of holders
of our common stock.





We
may not have adequate internal accounting controls. While we have certain
internal procedures in our budgeting, forecasting and in the management and
allocation of funds, our internal controls may not be adequate.





We are
constantly striving to improve our internal accounting controls. We do not have
a dedicated Chief Financial Officer. We hope to develop an adequate internal
accounting control to budget, forecast, manage and allocate our funds and
account for them. There is no guarantee that such improvements will be adequate
or successful or that such improvements will be carried out on a timely basis.
If we do not have adequate internal accounting controls, we may not be able to
appropriately budget, forecast and manage our funds, we may also be unable to
prepare accurate accounts on a timely basis to meet our continuing financial
reporting obligations and we may not be able to satisfy our obligations under US
securities laws.





We
have inadequate insurance coverage





We do not
have any insurance coverage of any description at this time and therefore have
the risk of loss or damages to our business and assets. We cannot assure you
that we would not face liability upon the occurrence of any event which could
result in any loss or damages being assessed against the Company. Moreover, any
insurance we may ultimately acquire may not be adequate to cover any loss or
liability we may incur.





Risks
Related to an Investment in Our Common Stock





We
do not intend to pay cash dividends in the foreseeable future





We
currently intend to retain all future earnings for use in the operation and
expansion of our business. We do not intend to pay any cash dividends in the
foreseeable future but will review this policy as circumstances
dictate.





There
is currently no market for our securities and there can be no assurance that any
market will ever develop or that our common stock will be listed for
trading.





Prior to
the date of this prospectus, there has not been any established trading market
for our common stock and there is currently no market for our securities. We
will seek to have a market maker file an application with the NASD on our behalf
to list the shares of our common stock on the NASD OTC Bulletin Board (“OTCBB”)
or similar quotation service when we have a sufficient number of shareholders,
if ever. There can be no assurance as to whether such market makers application
will be accepted or, if accepted, the prices at which our common stock will
trade if a trading market develops, of which there can be no assurance. We are
not permitted to file such application on our own behalf. Until our common stock
is fully distributed and an orderly market develops, (if ever) in our common
stock, the price at which it trades is likely to fluctuate significantly. Prices
for our common stock will be determined in the marketplace and may be influenced
by many factors, including the depth and liquidity of the market for shares of
our common stock, developments affecting our business, including the impact of
the factors referred to elsewhere in these Risk Factors, investor perception of
us and general economic and market conditions. No assurances can be given that
an orderly or liquid market will ever develop for the shares of our common
stock. Due to the anticipated low price of the securities, many brokerage firms
may not be willing to effect transactions in the securities.


10





Our
common stock is subject to the Penny Stock Regulations





Our
common stock will likely be subject to the SEC's “penny stock” rules to the
extent that the price remains less than $5.00. Those rules, which require
delivery of a schedule explaining the penny stock market and the associated
risks before any sale, may further limit your ability to sell your
shares.





The SEC
has adopted regulations which generally define “penny stock” to be an equity
security that has a market price of less than $5.00 per share. Our common stock,
when and if a trading market develops, may fall within the definition of penny
stock and subject to rules that impose additional sales practice requirements on
broker-dealers who sell such securities to persons other than established
customers and accredited investors (generally those with assets in excess of
$1,000,000, or annual incomes exceeding $200,000 or $300,000, together with
their spouse).





For
transactions covered by these rules, the broker-dealer must make a special
suitability determination for the purchase of such securities and have received
the purchaser's prior written consent to the transaction. Additionally, for any
transaction, other than exempt transactions, involving a penny stock, the rules
require the delivery, prior to the transaction, of a risk disclosure document
mandated by the Commission relating to the penny stock market. The broker-dealer
also must disclose the commissions payable to both the broker-dealer and the
registered representative, current quotations for the securities and, if the
broker-dealer is the sole market-maker, the broker-dealer must disclose this
fact and the broker-dealer's presumed control over the market. Finally, monthly
statements must be sent disclosing recent price information for the penny stock
held in the account and information on the limited market in penny stocks.
Consequently, the `penny stock` rules may restrict the ability of broker-dealers
to sell our common stock and may affect the ability of investors to sell their
common stock in the secondary market.




Our
common stock is illiquid and subject to price volatility unrelated to our
operations





The
market price of our common stock could fluctuate substantially due to a variety
of factors, including market perception of our ability to achieve our planned
growth, quarterly operating results of other companies in the same industry,
trading volume in our common stock, changes in general conditions in the economy
and the financial markets or other developments affecting our competitors or us.
In addition, the stock market is subject to extreme price and volume
fluctuations. This volatility has had a significant effect on the market price
of securities issued by many companies for reasons unrelated to their operating
performance and could have the same effect on our common stock. Sales of
substantial amounts of common stock, or the perception that such sales could
occur, could adversely affect the market price of our common stock and could
impair our ability to raise capital through the sale of our equity
securities.




ITEM
1B.  UNRESOLVED STAFF COMMENTS




None.




ITEM
2.  PROPERTIES.




We have
our corporate headquarters at 15D, Eton Building, 288 Des Voeux Road, Central
Hong Kong, in the commercial center of Hong Kong. We lease these facilities,
which are approximately 100 square meters, under an operating lease commencing
April 16, 2010 and expiring April 15, 2012. Pursuant to the lease, we are
obligated to pay monthly rent of approximately $1,823 as well as a management
fee of approximately $253.




ITEM
3.    LEGAL PROCEEDINGS




As of
June 30, 2010, the Company was not a party to any pending or threatened legal
proceedings.




ITEM
4.    SUBMISSION OF MATTERS TO A VOTE OF SECURITY
HOLDERS




No
matters were submitted to a vote or for the written consent of security
shareholders, through the solicitation of proxies or otherwise, during the
fiscal year ended June 30, 2010, and no meeting of shareholders was
held.


11




PART
II.




ITEM
5.     MARKET FOR REGISTRANT’S COMMON EQUITY; RELATED
STOCKHOLDER MATTERS AND SMALL BUSINESS ISSUER PURCHASES OF EQUITY
SECURITIES




Market
Price




There is
no public market for our common stock and no public market may ever develop.
While we will seek to obtain a market maker after the effective date of this
prospectus to apply for the inclusion of our common stock in the OTCBB, we may
not be successful in our efforts and owners of our common stock may not have a
market in which to sell the same. Even if the common stock were quoted in a
market, there may never be substantial activity in such market, if there is
substantial activity, such activity may not be maintained, and no prediction can
be made as to what prices may prevail in such market.





Holders





As of
September 1, 2010, we have issued an aggregate of 25,000,000 shares of our
common stock to approximately 300 stockholders of record. The issued and
outstanding shares of the Company’s common stock were issued in accordance with
the exemptions from registration afforded by Section 4(2) of the Securities Act
of 1933 and Regulation D promulgated under the Securities Act.  125,000
shares of the Company’s common stock were registered under a registration
statement on Form S-1 which was declared effective by the U.S. Securities and
Exchange Commission on March 26, 2009.





Options
and Warrants




None of
the shares of our common stock are subject to outstanding options or
warrants.




Status
of Outstanding Common Stock




As of
June 30, 2010, 18,850,000 of our 25,000,000 issued and outstanding common
shares are held by “affiliates” of the Company and the remaining shares are
either registered or may be transferred subject to the requirements of Rule
144.  We have not agreed to register any additional outstanding shares of
our common stock under the Securities Act.




Dividends




We have
not paid any dividends to date, and have no plans to do so in the immediate
future.




Recent
Sales of Unregistered Securities




None.




Purchases
of Equity Securities




The
Company has never purchased nor does it own any equity securities of any other
issuer.




ITEM
6.     SELECTED FINANCIAL DATA




Year
Ended




6/30/10
                    
                    
                    6/30/09Revenues
                    
                    $
                    9,808
                    
                    
                    $
                    8,205Net
      Income (Loss)
                    
                    $
                    (31,469
                    )
                    
                    $
                    (32,520
                    )Net
      Income (Loss) Per Share, Basic and Diluted
                    
                    $
                    (0.00
                    )
                    
                    $
                    (0.00
                    )Weighted
      Average No. Shares, Basic and Diluted
                    
                    
                    25,000,000
                    
                    
                    
                    25,000,000Stockholders’
      Deficiency
                    
                    $
                    (133,956
                    )
                    
                    $
                    (102,487
                    )Total
      Assets
                    
                    $
                    13,057
                    
                    
                    $
                    13,694Total
      Liabilities
                    
                    $
                    147,013
                    
                    
                    $
                    116,180


12


ITEM
      7.
            MANAGEMENT’S
      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
      OPERATION




PRELIMINARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS




This
discussion contains forward-looking statements. The reader should understand
that several factors govern whether any forward-looking statement contained
herein will be or can be achieved. Any one of those factors could cause actual
results to differ materially from those projected herein. These forward-looking
statements include plans and objectives of management for future operations,
including plans and objectives relating to the products and the future economic
performance of the company. Assumptions relating to the foregoing involve
judgments with respect to, among other things, future economic, competitive and
market conditions, future business decisions, and the time and money required to
successfully complete development projects, all of which are difficult or
impossible to predict accurately and many of which are beyond the control of the
company. Although the company believes that the assumptions underlying the
forward-looking statements contained herein are reasonable, any of those
assumptions could prove inaccurate and, therefore, there can be no assurance
that the results contemplated in any of the forward-looking statements contained
herein will be realized. Based on actual experience and business development,
the company may alter its marketing, capital expenditure plans or other budgets,
which may in turn affect the company's results of operations. In light of the
significant uncertainties inherent in the forward-looking statements included
therein, the inclusion of any such statement should not be regarded as a
representation by the company or any other person that the objectives or plans
of the company will be achieved.




OVERVIEW




We were
incorporated in the State of Nevada on April 13, 2006 as a wholly owned
subsidiary of Cell Source Research Inc., a Nevada corporation. The Company has
generated limited revenue and is still a development stage corporation. The
Company’s plan of operations is to provide (a) document formatting
(“Edgarizing”), and electronic filing services to companies and individuals that
desire to submit filings, such as annual and quarterly reports, prospectuses,
registration statements, and other documents pursuant to the federal securities
laws, to the United States Securities and Exchange Commission (“SEC”), via
EDGAR, the SEC's electronic data gathering analysis and retrieval system and (b)
provide virtual office services consisting of providing phone numbers, fax
numbers and mail delivery addresses to local and foreign companies desirous of
establishing a presence in Hong Kong (“Virtual Office”). We commenced both our
Edgarizing and Virtual Office operations in April 2006. However, we temporarily
ceased the operations of our Edgarizing business at the beginning of year 2008,
and we have not resumed the operations of this Edgarizing business as of this
date.




RESULTS OF
OPERATIONS




The
following table shows the financial data of the consolidated statements of
operations of the Company and its subsidiaries for the years ended June 30, 2010
and June 30, 2009. The data should be read in conjunction with the audited
consolidated financial statements of the Company and related notes
thereto.


13





Year
      Ended
                            
                            
                            Year
      EndedJun
      30,
                            
                            
                            Jun
      30,2010
                            
                            
                            2009(In
      US$ thousands except per share data)Net
      Sales
                            
                            $
                            9,808
                            
                            
                            $
                            8,205Operating
      expensesDepreciation
      expenses
                            
                            
                            (1,329
                            )
                            
                            
                            (1,388
                            )Selling,
      general and administrative expenses
                            
                            
                            (39,948
                            )
                            
                            
                            (39,337
                            )Total
      Operating expenses
                            
                            
                            (41,277
                            )
                            
                            
                            (40,725
                            )Loss
      from operations
                            
                            
                            (31,469
                            )
                            
                            
                            (32,520
                            )Non-operating
      income (expense)Interest
      income
                            
                            
                            -
                            
                            
                            
                            -Loss
      on disposal of property and equipment
                            
                            
                            -
                            
                            
                            
                            -Profit/(loss)
      before income tax
                            
                            
                            (31,469
                            )
                            
                            
                            (32,520
                            )Provision
      for income taxes
                            
                            
                            —
                            
                            
                            
                            —Net
      income/(loss)
                            
                            
                            (31,469
                            )
                            
                            
                            (32,520
                            )Earnings
      (loss) per shareBasic
                            
                            $
                            (0.00
                            )
                            
                            $
                            (0.00
                            )




FISCAL
YEAR ENDED JUNE 30, 2010 COMPARED TO YEAR ENDED JUNE 30, 2009.




OPERATING
REVENUE




Since
commencing operations in April 2006, we have been engaged to providing
Edgarizing and Virtual Office businesses. However, due mainly to the inefficient
minimal scale of operating the Edgarizing business, we temporarily ceased its
operation and continue only the operation of Virtual Office.




For the
year ended June 30, 2010, Asia Document Transition, Inc. generated revenue in
the amount of $9,808, compared to $8,205 for the same corresponding period in
year 2009, an increase of $1,603 or 19.5%.  The increase was primarily the
result of increased service revenue from existing clients during the
twelve-month period ended June 2010. We had an average total of 3 clients in
fiscal year 2010 (versus 3 clients in fiscal year 2009) whom we charged between
$250 and $550 per month per client on a case-by-case basis for both fiscal years
2010 and 2009. As a result thereof, the change in revenues from 2009 to 2010 was
almost entirely due to changes in the volume of services rather than changes in
pricing.




DEPRECIATION
EXPENSES




Depreciation
expenses for the reporting period amounted to $1,329, compared to $1,388 for the
same corresponding period in year 2010, a decrease of $59 or 4.3%. This decrease
was the result of less depreciation recorded from the Company’s property and
equipment. These expenses were related to the depreciation charged on office
equipments and computers.




SELLING,
GENERAL AND ADMINISTRATIVE EXPENSES




For the
twelve-month period ended June 30, 2010, selling, general and administrative
expenses were $39,948, compared to $39,337 for the same corresponding period in
year 2009, an increase of $611 or 1.6%. This increase was primarily related to
the increase in professional fee, including audit fee and edgarizing fee for the
reporting period.


14


LOSS ON
DISPOSAL




For the
period ended June 30, 2010, there was no loss on disposal was being
recorded.




INTEREST
INCOME




There was
no interest income for the reporting period ended June 30, 2010, compared to
none for the same corresponding period in year 2009.




NET
LOSS




Net loss
was approximately $31,469 for the reporting period ended June 30, 2010, compared
to $32,520 for the same corresponding period in year 2009, a decrease of $1,050
or 3.2%.The loss was
the result of the overhead expenses exceeding our revenue generated to maintain
a physical office as well as to provide sufficient space for
clients.




LIQUIDITY
AND CAPITAL RESOURCES




As of
June 30, 2010, cash and cash equivalents totaled $4,036. This cash position was
the result of net cash provided by financing activities in the amount of
$30,832, offsetting by net cash used in operating activities in the amount of
$28,469. The cash increase in financing activities was the result of additional
loans from related party. The net cash used by operating activities was mainly
the result of increase overheads expenses to maintain Company office and spaces
to provide services for clients as well as additional professional fees in
relation to our preparation and filings of a registration
statement.




We
believe that the level of financial resources is a significant factor for our
future development, and accordingly we may choose at any time to raise capital
through private debt or equity financing to strengthen its financial position,
facilitate growth and provide us with additional flexibility to take advantage
of business opportunities. However, we do not have immediate plans to have a
public offering of our common stock.




CRITICAL
ACCOUNTING POLICIES




In
presenting our financial statements in conformity with generally accepted
accounting principles, we are required to make estimates and assumptions that
affect the amounts reported therein. Several of the estimates and assumptions we
are required to make relate to matters that are inherently uncertain as they
pertain to future events. However, events that are outside of our control cannot
be predicted and, as such, they cannot be contemplated in evaluating such
estimates and assumptions. If there is a significant unfavorable change to
current conditions, it could result in a material adverse impact to our
consolidated results of operations, financial position and liquidity. We believe
that the estimates and assumptions we used when preparing our financial
statements were the most appropriate at that time. Presented below are those
accounting policies that we believe require subjective and complex judgments
that could potentially affect reported results. However, the majority of our
businesses operate in environments where we pay a fee for a service performed,
and therefore the results of the majority of our recurring operations are
recorded in our financial statements using accounting policies that are not
particularly subjective, nor complex.




Valuation
of long-lived assets




We review
our long-lived assets for impairment, including property, plant and equipment,
and identifiable intangibles with definite lives, whenever events or changes in
circumstances indicate that the carrying amount of the assets may not be fully
recoverable. To determine recoverability of our long-lived assets, we evaluate
the probability that future undiscounted net cash flows will be greater than the
carrying amount of our assets. Impairment is measured based on the difference
between the carrying amount of our assets and their estimated fair
value.




Allowance
for Doubtful Accounts




We
perform ongoing credit evaluations of our customers and adjust credit limits
based upon customer payment history and current creditworthiness. We
continuously monitor collections and payments from our customers and maintain a
provision for estimated credit losses based upon our historical experience and
any specific customer collection issues that have been identified. While such
credit losses have historically been within our expectations and the provisions
established, we cannot guarantee that we will continue to experience credit loss
rates similar to those we have experienced in the past. Measurement of such
losses requires consideration of historical loss experience, including the need
to adjust for current conditions, and judgments about the probable effects of
relevant observable data, including present economic conditions such as
delinquency rates and financial health of specific customers.


15


Goodwill
on consolidation




Our
long-lived assets include goodwill. SFAS No. 142 "Goodwill and Other Intangible
Assets" requires that goodwill be tested for impairment at the reporting unit
level (operating segment or one level below an operating segment) on an annual
basis and between annual tests in certain circumstances. Application of the
goodwill impairment test requires judgment, including the identification of
reporting units, assigning assets and liabilities to reporting units, assigning
goodwill to reporting units, and determining the fair value of each reporting
unit. Significant judgments required to estimate the fair value of reporting
units include estimating future cash flows, determining appropriate discount
rates and other assumptions. Changes in these estimates and assumptions could
materially affect the determination of fair value for each reporting
unit.




Changes
in internal controls over financial reporting




There was
no change in our internal controls over financial reporting that occurred during
the period covered by this report, which has materially affected, or is
reasonably likely to materially affect, our internal controls over financial
reporting.




Changes
in Connection with Becoming a Public Company




As a
public company, we incur significant additional operating expenses and expenses
related to hiring additional personnel and expanding our administrative
functions. Many of these expenses were not incurred or were incurred at a lower
level by us as a private company and are not included in our prior results of
operations. We began to incur certain of these expenses during fiscal 2009, and
we expect that these expenses will continue to increase. Specifically, we will
incur certain costs of compliance with applicable SEC reporting rules and
regulations including, but not limited to attorneys fees, accounting and
auditing fees, other professional fees, financial printing costs and
Sarbanes-Oxley compliance costs in an amount estimated at $25,000 per
year.




Lease
Obligation




We have
our corporate headquarters at 15D, Eton Building, 288 Des Voeux Road, Central
Hong Kong, in the commercial center of Hong Kong. We lease these facilities,
which are approximately 100 square meters, under an operating lease commencing
April 16, 2010 and expiring April 15, 2012.





Pursuant
to the lease, we are obligated to pay monthly rent of approximately $1,823 as
well as a management fee of approximately $253.




Minimum
lease commitments per calendar year at June 30, 2010 are summarized as
follows:




Year Ending June
      30,
                    
                    Amount2011
                    
                    
                    24,9122012
                    
                    
                    9,3422013
                    
                    
                    —Thereafter
                    
                    
                    —$
                    34,254




Rent
expense charged to operations under this operating lease aggregated $23,850 for
the year ended June 30, 2010.


16


Going
Concern


Our
independent auditors have added an explanatory paragraph to their audit issued
in connection with the financial statements for the period ended June 30, 2010,
relative to our ability to continue as a going concern. This means that there is
substantial doubt that we can continue as an ongoing business for the next 12
months. The financial statements do not include any adjustments that might
result from the uncertainty about our ability to continue our business. The
Company has suffered net losses and as of June 30, 2010, its total liabilities
exceeded its total assets by $133,956. We had an accumulated deficit of $158,956
incurred through such date and recorded a loss of $31,469 for the fiscal year
ended June 30, 2010. Because our auditors have issued a going concern opinion,
there is substantial uncertainty we will be able to continue operations. Because
our auditors have issued a going concern opinion, there is substantial
uncertainty we will continue operations. Based upon our operating budgets, we
believe that these additional infusions of cash will enable us to fund our
operations through December 31, 2010. We will need to raise additional
investment capital to fund our operations beyond that date and until we can
operate on a cash flow positive basis. There is no guarantee that we will be
able to obtain such additional funding or that any funding will be offered on
terms and conditions which are acceptable to us.





Off-Balance
Sheet Arrangements





As of the
end of fiscal 2010, we had no off-balance sheet arrangements, other than
operating leases reported above under “Lease Obligation”.





Inflation
and Seasonality





Our business and operating results are not affected in any
material way by inflation or seasonality.




ITEM
      7A.
            QUANTITATIVE AND QUALITATIVE
      DISCLOSURES ABOUT MARKET
RISK




As a
“smaller reporting company” as defined by Item 10 of Regulation S-K, the Company
is not required to provide information required by this Item.




ITEM
      8.
            FINANCIAL
      STATEMENTS AND SUPPLEMENTARY DATA




Set forth
below are the audited financial statements for the Company for the fiscal years
ended June 30, 2010 and 2009 and the reports thereon of Paritz & Co.,
P.A.


17


ASIA
DOCUMENT TRANSITION, INC.





FINANCIAL
STATEMENTS





INDEX





Page
      NumberINDEPENDENT
      AUDITORS' REPORT
                
                F-1FINANCIAL
      STATEMENTS:Balance
      Sheets at June 30, 2010 and June 30, 2009
                
                F-2Statement
      of Operations for the years ended June 30, 2010 and June 30, 2009 and
      for the period from Inception (April 13, 2006) to June 30,
      2010
                
                F-3Statement
      of Stockholders' Deficiency as of June 30, 2010
                
                F-4Statement
      of Cash Flows for the years ended June 30, 2010 and 2009 and for the
      period from Inception (April 13, 2006) to June 30, 2010
                
                F-5Notes
      to Financial Statements for period ended June 30, 2010
                
                F-6
      to F-11


18


REPORT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING FIRM




The Board
of Directors and Shareholders


Asia
Document Transition, Inc.:






We have
audited the accompanying balance sheet of Asia Document Transition, Inc. as of
June 30, 2010 and 2009, and the related statements of operations, changes in
shareholders’ equity (deficit), and cash flows for the years ended June 30, 2010
and 2009.  These financial statements are the responsibility of the
Company’s management.  Our responsibility is to express an opinion on these
financial statements based on our audits.




We
conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States).  Those standards require that
we plan and perform the audits to obtain reasonable assurance about whether the
financial statements are free of material misstatement.  The Company is not
required to have, nor were we engaged to perform, an audit of its internal
control over financial reporting.  Our audit included consideration of
internal control over financial reporting as a basis for designing audit
procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the Company’s internal control
over financial reporting.  Accordingly, we express no such opinion. 
An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, as well as evaluating the
overall financial statement presentation.  We believe that our audits
provide a reasonable basis for our opinion.




In our
opinion, the financial statements referred to above present fairly, in all
material respects, the financial position of Asia Document Transition, Inc. as
of June 30, 2010 and 2009, and the results of its operations and its cash flows
for the years ended June 30, 2010 and 2009 in conformity with accounting
principles generally accepted in the United States of America.




The
accompanying financial statements have been prepared assuming that the Company
will continue as a going concern.  As discussed in Note 1 to the financial
statements, the Company has incurred operating losses since inception and has a
net capital deficit at June 30, 2010, which raises substantial doubt about its
ability to continue as a going concern.  Management’s plan in regard to
these matters is also discussed in Note 1.  The financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.




/s/
Paritz & Co.




Paritz
& Co.


Hackensack,
NJ


September
22, 2010


F-1




ASIA
DOCUMENT TRANSITION, INC.


Consolidated
Balance Sheets


(A
Development Stage Company)





June
      30, 2010
                        
                        
                        June
      30, 2009ASSETSCURRENT
      ASSETSCash
      and cash equivalents
                        
                        $
                        4,036
                        
                        
                        $
                        1,673Account
      receivables
                        
                        
                        —
                        
                        
                        
                        —Prepaid
      expenses
                        
                        
                        —
                        
                        
                        
                        1,975Total
      Current Assets
                        
                        
                        4,036
                        
                        
                        
                        3,648PROPERTY
      AND EQUIPMENT, net
                        
                        
                        2,625
                        
                        
                        
                        3,954OTHER
      ASSETSDeposits
                        
                        
                        6,396
                        
                        
                        
                        6,092TOTAL
      ASSETS
                        
                        $
                        13,057
                        
                        
                        $
                        13,694LIABILITIES AND STOCKHOLDERS'
      DEFICIENCYCURRENT
      LIABILITIESAccounts
      payable and accrued expenses
                        
                        $
                        —
                        
                        
                        $
                        —Other
      payable
                        
                        
                        256
                        
                        
                        
                        256Related
      party notes payables
                        
                        
                        146,757
                        
                        
                        
                        115,924Total
      Current Liabilities
                        
                        
                        147,013
                        
                        
                        
                        116,180NON-CURRENT
      LIABILITIES
                        
                        
                        —
                        
                        
                        
                        —TOTAL
      LIABILITIES
                        
                        
                        147,013
                        
                        
                        
                        116,180STOCKHOLDERS'
      DEFICIENCYCommon
      stock, $0.001 par value, 100,000,000 shares authorized, 25,000,000 shares
      issued and outstanding
                        
                        
                        25,000
                        
                        
                        
                        25,000Additional
      paid-in capitalDeficit
      accumulated during the development stage
                        
                        
                        (158,956
                        )
                        
                        
                        (127,487
                        )Total
      Stockholders' Deficiency
                        
                        
                        (133,956
                        )
                        
                        
                        (102,487
                        )TOTAL
      LIABILITIES AND STOCKHOLDERS' DEFICIENCY
                        
                        $
                        13,057
                        
                        
                        $
                        13,694





The
accompanying notes are an integral part of the financial
statements.


F-2





ASIA
DOCUMENT TRANSITION, INC.


Consolidated
Statements of Operations


(A
Development Stage Company)





For the year ended
                  June 30, 2010
                
                
                For the year ended
                  June 30, 2009
                
                
                From Inception
                  April 13, 2006 to
                  June 30, 2010
                  (Cumulative)SALES
                
                $
                9,808
                
                
                $
                8,205
                
                
                $
                59,337COST
      OF SALES
                
                
                —
                
                
                
                —
                
                
                $
                500Gross
      Profit:
                
                $
                9,808
                
                
                $
                8,205
                
                
                $
                58,837EXPENSESDepreciation
      Expenses
                
                $
                1,329
                
                
                $
                1,388
                
                
                $
                10,995Selling,
      General and Administrative Expenses
                
                
                39,948
                
                
                
                39,337
                
                
                $
                174,159Total
      Expenses
                
                
                41,277
                
                
                
                40,725
                
                
                
                185,154LOSS
      FROM OPERATIONS
                
                
                (31,469
                )
                
                
                (32,520
                )
                
                
                (126,317
                )OTHER
      INCOME (EXPENSES)Interest
      income
                
                
                —
                
                
                
                —
                
                
                $
                1Loss
      on disposal of property and equipment
                
                
                —
                
                
                
                —
                
                
                $
                (7,640
                )Write
      off of goodwill
                
                
                
                
                
                
                
                
                
                
                (25,000
                )Provision
      for Income Taxes
                
                
                -
                
                
                
                -
                
                
                
                -Net
      Loss
                
                
                (31,469
                )
                
                
                (32,520
                )
                
                
                (158,956
                )PER
      SHARE DATA:Basic
      loss per common share
                
                $
                (0.00
                )
                
                $
                (0.00
                )Weighted
      Average Common Shares Outstanding
                
                
                25,000,000
                
                
                
                25,000,000





The
accompanying notes are an integral part of the financial
statements.


F-3





ASIA DOCUMENT TRANSITION, INC.


Consolidated
Statements of Stockholders' Equity (Deficit)


(A
Development Stage Company)





Common
                    Shares
                  
                  
                  ParValue
                  
                  
                  Additional
                    Paid-in
                    Capital
                    (Deficit)
                  
                  
                  Accumulated
                    Deficit during
                    Development
                    Stage
                  
                  
                  Total
                    Stockholders'
                    Equity
                    (Deficit)Balance,
      April 13, 2006 (inception)
                  
                  
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -
                  
                  
                  $
                  -Common
      stock issued for services at $0.001 per share on April 13,
      2006
                  
                  
                  125,000
                  
                  
                  
                  125
                  
                  
                  
                  875
                  
                  
                  
                  (1,000
                  )
                  
                  
                  -Common
      stock issued for services at $0.001 per share on April 17,
      2006
                  
                  
                  375,000
                  
                  
                  
                  375
                  
                  
                  
                  2,625
                  
                  
                  
                  (3,000
                  )
                  
                  
                  -Eliminate
      negative paid in capital
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  
                  (3,500
                  )
                  
                  
                  3,500
                  
                  
                  
                  -Common
      stock issued for acquisition of Vast Opportunity, Ltd. On April 26,
      2006
                  
                  
                  24,500,000
                  
                  
                  
                  24,500
                  
                  
                  
                  -
                  
                  
                  
                  (24,500
                  )
                  
                  
                  -Net
      loss from inception through June 30, 2006
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (4,874
                  )
                  
                  
                  (4,874
                  )Balance,
      June 30, 2006
                  
                  
                  25,000,000
                  
                  
                  
                  25,000
                  
                  
                  
                  -
                  )
                  
                  
                  (29,874
                  )
                  
                  
                  (4,874
                  )Net
      loss for the year ended June 30, 2007
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (32,348
                  )
                  
                  
                  (32,348
                  )Balance,
      June 30, 2007
                  
                  
                  25,000,000
                  
                  
                  
                  25,000
                  
                  
                  
                  -
                  
                  
                  
                  (62,222
                  )
                  
                  
                  (37,222
                  )Net
      loss for the year ended June 30, 2008
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (32,745
                  )
                  
                  
                  (32,745
                  )Balance,
      June 30, 2008
                  
                  
                  25,000,000
                  
                  
                  
                  25,000
                  
                  
                  
                  -
                  
                  
                  
                  (94,967
                  )
                  
                  
                  (69,967
                  )Net
      loss for the year ended June 30, 2009
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (32,520
                  )
                  
                  
                  (32,520
                  )Balance,
      June 30, 2009
                  
                  
                  25,000,000
                  
                  
                  
                  25,000
                  
                  
                  
                  -
                  
                  
                  
                  (127,487
                  )
                  
                  
                  (102,487
                  )Net
      loss for the year ended June 30, 2010
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  -
                  
                  
                  
                  (31,469
                  )
                  
                  
                  (31,469
                  )Balance,
      June 30, 2010
                  
                  
                  25,000,000
                  
                  
                  
                  25,000
                  
                  
                  
                  -
                  
                  
                  
                  (158,956
                  )
                  
                  
                  (133,956
                  )





The
accompanying notes are an integral part of the financial
statements.


F-4





ASIA
DOCUMENT TRANSITION, INC.


CONSOLIDATED
STATEMENTS OF CASH FLOWS


(A
Development Stage Company)





For
      the year
                                        ended
      June 30,
                                        2010
                                      
                                      
                                      For
      the year
                                        ended
      June 30,
                                        2009
                                      
                                      
                                      April
      13, 2006
                                        (inception)
      to
                                        June
      30, 2010OPERATING
      ACTIVITIESNet
      Loss
                                      
                                      $
                                      (31,469
                                      )
                                      
                                      $
                                      (32,520
                                      )
                                      
                                      $
                                      (158,956
                                      )Adjustments
      to reconcile net loss to net cash used in operating
    activitiesCommon
      stock issued for services
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —Loss
      on disposal of property and equipment
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —
                                      
                                      
                                      
                                      7,640Depreciation
                                      
                                      
                                      1,329
                                      
                                      
                                      
                                      1,388
                                      
                                      
                                      
                                      10,995Write-off
      of goodwill
                                      
                                      
                                      
                                      
                                      
                                      
                                      
                                      
                                      
                                      
                                      25,000Change
      in operating assets and liabilitiesAccount
      receivables
                                      
                                      
                                      1,671
                                      
                                      
                                      
                                      1,602
                                      
                                      
                                      
                                      —Prepaid
      expenses and deposits
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —
                                      
                                      
                                      
                                      (12,845
                                      )Other
      payables
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —
                                      
                                      
                                      
                                      256Net
      Cash Used in Operating Activities
                                      
                                      $
                                      (28,469
                                      )
                                      
                                      $
                                      (29,530
                                      )
                                      
                                      $
                                      (127,910
                                      )CASH
      FLOWS FROM INVESTING ACTIVITIESPurchase
      of property and equipment
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —
                                      
                                      
                                      
                                      (48,144
                                      )Disposal
      of property and equipment
                                      
                                      
                                      —
                                      
                                      
                                      
                                      —
                                      
                                      
                                      
                                      33,334Net
      Cash provided by (used in) Investing activities
                                      
                                      $
                                      —
                                      
                                      
                                      $
                                      —
                                      
                                      
                                      $
                                      (14,810
                                      )CASH
      FLOWS FROM FINANCING ACTIVITIESLoans
      from (repayment to) related parties
                                      
                                      
                                      30,832
                                      
                                      
                                      
                                      29,683
                                      
                                      
                                      
                                      146,756Net
      Cash provided by (used in) Financing Activities
                                      
                                      $
                                      30,832
                                      
                                      
                                      $
                                      29,683
                                      
                                      
                                      $
                                      146,756NET
      INCREASE (DECREASE) IN CASH
                                      
                                      
                                      2,363
                                      
                                      
                                      
                                      153
                                      
                                      
                                      
                                      4,036CASH
      AT BEGINNING OF PERIOD
                                      
                                      
                                      1,673
                                      
                                      
                                      
                                      1,519
                                      
                                      
                                      
                                      -CASH
      AT END OF PERIOD
                                      
                                      $
                                      4,036
                                      
                                      
                                      $
                                      1,673
                                      
                                      
                                      $
                                      4,036SUPPLEMENTAL
      CASH FLOW INFORMATIONCash
      Paid For:Interest
      expense
                                      
                                      $
                                      -
                                      
                                      
                                      $
                                      -
                                      
                                      
                                      $
                                      -Income
      Taxes
                                      
                                      
                                      -
                                      
                                      
                                      
                                      -
                                      
                                      
                                      
                                      -Non
      Cash Financing Activities:Common
      stock issued for subsidiary
                                      
                                      
                                      -
                                      
                                      
                                      
                                      -
                                      
                                      
                                      
                                      -




The
accompanying notes are an integral part of the financial
statements.


F-5


ASIA
DOCUMENT TRANSITION, INC.


(A
DEVELOPMENT STAGE COMPANY)


NOTES TO
FINANCIAL STATEMENTS


JUNE 30,
2010





NOTE
1.   ORGANIZATION AND DESCRIPTION OF BUSINESS





Asia
Document Transition, Inc. (the “Company”) was incorporated in the State of
Nevada on April 13, 2006. The Company is in the business of (a) providing
services consisting of converting documents from word processing format to HTML
in order that they may be filed with the U.S.  Securities and Exchange
Commission ("SEC") electronically through EDGAR, the SEC's Electronic Data
Gathering,  Analysis, and Retrieval system and (b) providing of
mailing address, phone and fax service, internet access temporary meeting space
(“Virtual Office Services”) to small and single operator businesses
within  Hong Kong . The Company has been in the development stage
since formation on April 13, 2006 and has only generated minimal revenue to
date.





On April
26, 2006, the Company acquired all of the issued and outstanding shares of Vast
Opportunity Limited, (VOL) a Hong Kong incorporated limited company, through the
issuance of 24,500,000 common shares to the shareholders of VOL. VOL has been
since its inception, a corporation with minimal operations.  As of the
date of the acquisition, V OL had assets of $374 and total liabilities of
$1,302.  The acquisition resulted in the shareholders of VOL becoming
the controlling shareholders of the Company, accordingly the transaction was
recorded as a recapitalization of VOL.





NOTE
2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES





A.
  Basis of
Accounting





The
Company’s financial statements are prepared using the accrual method of
accounting.  The Company has elected a June 30 fiscal year-end. The
consolidated financial statements include the accounts of the Company and its
wholly owned subsidiary VOL.  All material intercompany balances have
been eliminated.




B. Revenue
Recognition




Revenues
from document formatting and Virtual Office Services are recognized at the time
the services have been provided to the customer.





C.
  Basic
Earnings (Loss) Per Share





Basic net
loss per share amounts is computed by dividing the net loss by the weighted
average number of common shares outstanding.  Diluted earnings per share
are the same as basic earnings per share due to the lack of dilutive items in
the Company.


F-6


ASIA
DOCUMENT TRANSITION, INC.


(A
DEVELOPMENT STAGE COMPANY)


NOTES TO
FINANCIAL STATEMENTS


JUNE 30,
2010





NOTE
2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)





D.
  Cash and Cash Equivalents





For
purpose of reporting the statement of flows, cash and cash equivalents include
highly liquid investments with investments with maturities of three months or
less at the time of purchase.





E.     Property
and Equipment





The value
of fixed assets is at historical cost as required by generally accepted
accounting principles. Depreciation is calculated on a straight-line over the 5
year expected useful life of the asset as follows:





Fixed
assets at June 30, 2010 are comprised as follows:





Office
      and computer equipment
                            
                            $
                            44,140Furniture
      and Fixtures
                            
                            
                            1,397Leasehold
      improvement
                            
                            
                            2,716Depreciation
                            
                            
                            (45,628
                            )Net
      Property and Equipment
                            
                            $
                            2,625





Depreciation
of $1,329 had been accounted for during the year ended June 30,
2010.




F.
Foreign currency
translation




Assets
and liabilities of the Company whose functional currency is the Hong Kong dollar
are translated into U.S. dollars at exchange rates prevailing at the balance
sheet date. Revenues and expenses are translated at average exchange rates for
the year. The net exchange differences resulting from these translations will be
reported in other income. Gains and losses resulting from foreign currency
transactions will be included the consolidated statements of operations. There
are no exchange differences or Gains and Losses resulting from foreign currency
translations to report for the period commencing with inception and ending June
30, 2010.





G.
Related Party Notes
Payable





Notes
Payable consists of $146,756 in loans made by an officer and shareholder of the
Company to the Company and its wholly owned subsidiary, VOL. These loans bear no
interest, are unsecured and due and payable upon demand.


F-7





ASIA
DOCUMENT TRANSITION, INC.


(A
DEVELOPMENT STAGE COMPANY)


NOTES TO
FINANCIAL STATEMENTS


JUNE 30,
2010





NOTE
2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)





H.
   Useof
Estimates





The
preparation of the financial statements in conformity with generally accepted
accounting principles 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 date of the financial statement and the
reported amounts of revenue and expenses during the reporting period.
 Actual results could differ from those estimates.





I.
  Development
Stage





The
Company continues to devote substantially all of its efforts in the development
of its plan to(a) provide services consisting of converting documents from word
processing format to HTML in order that they may be filed with the
SEC  electronically  through EDGAR, the SEC's Electronic
Data Gathering,  Analysis, and Retrieval system and (b) providing of
mailing address, phone and fax service, internet access temporary meeting space
(“Virtual Office Services”) to small and single operator businesses
within  Hong Kong .





J.
  Income
Taxes





The
Company provides for income taxes under Statement of Financial Accounting
Standards No. 109, Accounting for Income Taxes. SFAS No. 109 requires the use of
an asset and liability approach in accounting for income taxes. Deferred tax
assets and liabilities are recorded based on the differences between the
financial statement and tax bases of assets and liabilities and the tax rates in
effect when these differences are expected to reverse. SFAS No. 109 requires the
reduction of deferred tax assets by a valuation allowance if, based on the
weight of available evidence, it is more likely than not that some or all of the
deferred tax assets will not be realized.





The
provision for income taxes differs from the amounts which would be provided by
applying the statutory federal income tax rate to net loss before provision for
income taxes for the following reasons:


June
      30,2010.Income
      tax expense at statutory rate
                  
                  $
                  (10,700
                  )Valuation
      allowance
                  
                  
                  10,700Income
      tax expense per books
                  
                  $
                  -0-


F-8





ASIA
DOCUMENT TRANSITION, INC.


(A
DEVELOPMENT STAGE COMPANY)


NOTES TO
FINANCIAL STATEMENTS


JUNE 30,
2010





J.
  Income
Taxes (Continued)





Net
deferred tax assets consist of the following components as of:





June
      30,2010NOL
      Carryover
                  
                  $
                  53,000Valuation
      allowance
                  
                  
                  (53,000
                  )Net
      deferred tax asset
                  
                  $
                  -0-





The
Company has a net operating loss carryover of $133,957 as of June 30, 2010 which
expires in 2028. Due to the change in ownership provisions of the Tax Reform Act
of 1986, net operating loss carry forwards for federal income tax reporting
purposes are subject to annual limitations. Should a change in ownership occur
net operating loss carry forwards may be limited as to use in future
years.





K.
Equity-based
compensation.





The
Company adopted SFAS No. 123-R effective January 1, 2006 using the
modified prospective method. Under this transition method, stock compensation
expense includes compensation expense for all stock-based compensation awards
granted on or after January 1,2006, based on the grant-date fair value
estimated in accordance with the provisions of SFAS No. 123-R.





L.
Restatement of
Financial Statements (in Part)





The
Company discovered an erroneous entry being made in year 2006, which required a
reclassification of this entry.  The effects of the restatement on the
Company’s consolidated balance sheet as of June 30, 2007 and 2008, as well as
the effects of these changes on the Company’s consolidated statements of income
and consolidated statements of cash flows for fiscal years 2008 and
2007.  The cumulative effect of the restatement relating to fiscal
years 2008 and 2007 is the increase of additional paid-in capital from negative
$21,000 to zero; write-off of goodwill in the amount of $25,000; and a decrease
in selling, general and administrative expenses of $3,125.  As a
result, deficit accumulated fiscal years ended June 30, 2007 and 2008 increased
by $21,875.




NOTE
3.   COMMON STOCK TRANSACTIONS





On April
13, 2006 the Company issued 125,000 shares of common stock in exchange for
services valued at $1,000.





On April
17, 2006 the Company issued 375,000 shares of common stock to an outside
consultant for services valued at $3,000.





NOTE
4.   WARRANTS AND OPTIONS





There are
no warrants or options outstanding to acquire any additional shares of common
stock.


F-9





ASIA
DOCUMENT TRANSITION, INC.


(A
DEVELOPMENT STAGE COMPANY)


NOTES TO
FINANCIAL STATEMENTS


JUNE 30,
2010




NOTE
5.   TRANSACTIONS WITH RELATED PARTY




On April
26, 2006, Bernard Chan, the Company’s sole Officer and Director, received
18,850,000 common shares of the Company in connection with the Company’s
acquisition of Vast Opportunity, Ltd.





As of
June 30, 2010, the Company is indebted to Bernard Chan in the amount of $146,756
for loans made by Bernard Chan to the Company and the Company’s wholly owned
subsidiary, VOL. These loans bear no interest and are due and payable by the
Company upon demand.





NOTE 6. RECENT ACCOUNTING
PRONOUNCEMENTS





In June
2009, the FASB issued guidance now codified in FASB Accounting Standards
Codification ("ASC") Topic 105, Generally Accepted Accounting Principles, as the
single source of authoritative nongovernmental GAAP. FASB ASC Topic 105 does not
change current GAAP, but is intended to simplify user access to all
authoritative GAAP by providing all authoritative literature related to a
particular topic in one place. All existing accounting standard documents have
been superseded and all other accounting literature not included in the FASB
Codification is now considered non-authoritative. These provisions of FASB ASC
Topic 105 are effective for interim and annual periods ending after September
15, 2009 and, accordingly, are effective for the Company for the current fiscal
reporting period. The adoption of this guidance did not have an impact on the
Company’s financial condition or results of operations, but impacted its
financial reporting process by eliminating all references to pre-codification
standards. On the effective date of this guidance, the Codification superseded
all then-existing non-SEC accounting and reporting standards, and all other
non-grandfathered, non-SEC accounting literature not included in the
Codification became non-authoritative.




In August
2009, the FASB issued an updated Accounting Standards Update ("ASU") regarding
fair value measurements and disclosures. The guidance provides clarification
that in circumstances in which a quoted price in an active market for the
identical liability is not available, an entity is required to measure fair
value using certain prescribed valuation techniques. The amendments in the
pronouncements were effective for the Company’s first quarter of fiscal 2010.
The adoption of this guidance did not have a material impact on the Company’s
financial position or results of operations.





In
January 2010, the FASB authoritative guidance regarding “Improving Disclosures
about Fair Value Measurements”. The guidance provides amendments to literature
on fair value measurements and disclosures currently within the ASC by
clarifying certain existing disclosures and requiring new disclosures for the
various classes of fair value measurements. It is effective for interim and
annual periods beginning after December 15, 2009, except for the disclosures
about purchases, sales, issuances, and settlements in the roll forward of
activity in Level 3 fair value measurements, which are effective for fiscal
years beginning after December 15, 2010, and for interim periods within those
fiscal years. The adoption of this guidance is not expected to have a material
impact on the Company’s financial position or results of
operations.




In
February 2010, the FASB amended certain authoritative guidance on Amendments to
Certain Recognition and Disclosure Requirements for Subsequent Events. The
guidance addresses both the interaction of the requirements of Subsequent
Events, with the SEC’s reporting requirements and the intended breadth of the
reissuance disclosures provision related to subsequent events, potentially
changing reporting by both private and public entities depending on the facts
and circumstances surrounding the nature of the change. All of the amendments
are effective upon issuance of the final update, except for the use of the
issued date for conduit debt obligors which is effective for interim and annual
periods ending after June 15, 2010. The adoption of this guidance did not have a
material impact on the Company’s financial position or results of
operations.


F-10


ASIA
DOCUMENT TRANSITION, INC.


(A
DEVELOPMENT STAGE COMPANY)


NOTES TO
FINANCIAL STATEMENTS


JUNE 30,
2010





NOTE 6. RECENT ACCOUNTING
PRONOUNCEMENTS (CON’T)





In April
2010, the FASB issued authoritative guidance on Stock Compensation and its
Effect of Denominating the Exercise Price of a Share-Based Payment Award in the
Currency of the Market in Which the Underlying Equity Security
Trades.  The guidance provides amendments to clarify that an employee
share-based payment award with an exercise price denominated in the currency of
a market in which a substantial portion of the entity’s equity securities trades
should not be considered to contain a condition that is not a market,
performance, or service condition. Therefore, an entity would not classify such
an award as a liability if it otherwise qualifies as the adoption of this
guidance is not expected to have a material impact on the Company’s financial
position or results of operations.





NOTE
7.  GOING CONCERN





The
accompanying financial statements have been prepared in conformity with
generally accepted accounting principle, which contemplate continuation of the
Company as a going concern.  However, The Company has a negative net
working capital of US$142,977 as of June 30, 2010 and a net loss of $31,470 and
$32,520 for the year ended June 30, 2010 and 2009 respectively.  The
Company currently has limited liquidity, and has not completed its efforts to
establish a stabilized source of revenues sufficient to cover operating costs
over an extended period of time.





Management
anticipates that the Company will be dependent, for the near future, on
additional investment capital to fund operating expenses.  The Company
intends to position itself so that it may be able to raise additional funds
through the capital markets. In light of management’s efforts, there are no
assurances that the Company will be successful in this or any of its endeavors
or become financially viable and continue as a going concern.





NOTE
8.  COMMITMENTS





The
Company leases its facilities  under an
operating  lease  commencing April 16, 2010 and expiring
April 15, 2012.





Pursuant
to the lease, the Company is obligated to pay monthly rent of approximately
$1,823 as well as a management fee of $253.





The
following is a summary of future minimum lease payments under operating leases
as of June 30, 2010. Rental expense was $23,850 for the year ended June 30,
2010.





Twelve
months ending June 30,





$2011
                    
                    
                    24,91224,912


F-11





ITEM
      9.
            CHANGES
      IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
      DISCLOSURE





None.





ITEM
      9A.
            CONTROLS
      AND PROCEDURES.




Evaluation
of Disclosure Controls and Procedures





The
Company’s Chief Executive Officer and Chief Financial Officer performed an
evaluation of the Company’s disclosure controls and procedures. Disclosure
controls and procedures include, without limitation, controls and procedures
designed to ensure that information required to be disclosed by an issuer in the
reports that it files or submits under the Securities Exchange Act of 1934 is
accumulated and communicated to the issuer’s management, including its Chief
Executive Officer and Chief Financial Officer, as appropriate to allow timely
decisions regarding required disclosure. Based on this evaluation, the Chief
Executive Officer and Chief Financial Officer have concluded that the Company’s
disclosure controls and procedures are effective as of June 30,
2010.





Management’s
Annual Report on Internal Control over Financial Reporting





ASIA
DOCUMENT TRANSITION, INC.





REPORT
OF MANAGEMENT





Management
prepared, and is responsible for, the financial statements and the other
information appearing in this annual report. The financial statements present
fairly the Company’s financial position, results of operations and cash flows in
conformity with U.S. generally accepted accounting principles. In preparing its
financial statements, the Company includes amounts that are based on estimates
and judgments that Management believes are reasonable under the circumstances.
The Company’s financial statements have been audited by Paritz & Co., an
independent registered public accounting firm appointed by the Company’s Board
of Directors. Management has made available to Paritz & Co. all of the
Company’s financial records and related data, as well as the minutes of the
stockholders’ and Directors’ meetings.





MANAGEMENT’S
ASSESSMENT OF INTERNAL CONTROL OVER FINANCIAL REPORTING





Our
management is responsible for establishing and maintaining adequate internal
control over financial reporting. Internal control over financial reporting is a
process designed by or under the supervision of our Chief Executive Officer and
our Chief Accounting Officer and effected by our board of directors, management
and other personnel to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting
principles.





Our
evaluation of internal control over financial reporting as of December 31,
2009 was conducted on the basis of the framework in “Internal Control-Integrated
Framework,” issued by the Committee of Sponsoring Organizations of the Treadway
Commission. Based on this evaluation, management has concluded that our internal
control over financial reporting was effective as of December 31,
2009.





This
Annual Report does not include an attestation report of the Company’s registered
public accounting firm regarding internal control over financial reporting.
Management’s report was not subject to attestation requirements by the Company’s
registered public accounting firm pursuant to temporary rules of the Commission
that permit the Company to provide only management’s report in this Annual
Report.





Changes
in Internal Control over Financial Reporting





There
were no changes in the Company’s internal controls over financial reporting
during the fiscal year ended June 30, 2010 that materially affected, or are
reasonably likely to materially affect, the Company’s internal control over
financial reporting.


19





ITEM 9B.   OTHER INFORMATION





None





PART
III.





ITEM
      10.
            DIRECTORS,
      EXECUTIVE OFFICERS AND CORPORATE
GOVERNANCE


Directors,
Executive Officers and Significant Employees




The
following table sets forth information with respect to our directors and
executive officers.  Other than these persons, there are no
significant employees.




Directors and Executive Officers
            
            Position/Title
            
            AgeBernard
      Chan
            
            Chief Executive Officer,
      Chief Financial Officer, President, Secretary, Treasurer and sole
      Director
            
            46




Bernard Chan,
(46).  Mr. Chan has served as our CEO, CFO, President,
Secretary, Principal Financial Officer, Treasurer and Director since May 10,
2006.  From July 1, 2006 to the December 31, 2006, Mr. Chan has served
as Chief Financial officer of Asia Payment Systems, Inc., a publicly traded Asia
focus corporation, which provides processing services for payment cards and
loyalty cards.  From April 2003 to February 2006, Mr. Chan served as
Chief Financial Officer of China World Trade Corp, a publicly traded China based
corporation, which provides travel related services and value added business
services as well as operating business centers and clubs throughout the major
cities of China.  From April 2004 to the Present, Mr. Chan is a
Registered Investment Advisor, registered with the Securities and Futures
Commission of Hong Kong, under the laws of Hong Kong Special Administrative
Region. Mr. Chan earned his Master of Business Administration Degree in
International Management and Investment Finance, Master of Science Degree in
Applied Econometrics, and Bachelor of Business Administration Degree in
Investment Finance, from the University of Hawaii.





Mr. Chan
currently devotes approximately 10 hours per week to the business of Asia
Document Transition, Inc.





Family
Relationships




There are
no family relationships among our directors or officers.





Board
of Directors; Election of Officers





All directors hold their office until
the next annual meeting of shareholders or until their successors are duly
elected and qualified.  Any vacancy occurring in the board of
directors  may be  filled  by
the  shareholders,  the  board  of
directors,  or if the directors  remaining in the
office  constitute less than a quorum of the board of
directors,  they may fill the vacancy by the  affirmative
vote of a majority of the directors  remaining in office.  A
director elected to fill a vacancy is elected for the unexpired term of his
predecessor in office. Any directorship filled by reason of an
increase  in the number of  directors shall expire at the
next  shareholders'  meeting in which directors are elected,
unless the vacancy is filled by the shareholders,  in which case the
terms shall expiree  on the later of (i) the next  meeting
of the  shareholders  or (ii) the
term  designated  for the director at the time of creation
of the position being filled.





Board
of Directors and Corporate Governance





Our board of directors consists of
one member, and the board held no formal meetings in fiscal year
2010.


20





Director
Independence





Our stock is not quoted on any stock
exchange or on the NASDAQ market system. As such, we are not subject to any
director independence requirements.  We have no independent directors
at this time.





Board
Committees





In light of our small size and our
early development stage,  and the fact that we have only one director,
our board has not yet  designated
a  nominating  committee,  an
audit  committee,  a  compensation
committee,  or
committees  performing  similar  functions.  The
board intends to designate one or more such committees when
practicable.





Our board of directors intends to
appoint such persons and form such committees as are required  to
meet  the  corporate  governance  requirements  imposed  by
Sarbanes-Oxley and any applicable national securities
exchanges.  Therefore, we intend that a majority of our directors will
eventually be independent directors and at least one director will qualify as an
"audit committee financial expert" within the meaning of Item 401(h) of
Regulation  S-K, as  promulgated by the
SEC.  Additionally, our board of
directors  is  expected  to  appoint an
audit committee, nominating committee and compensation committee and to adopt
charters relative to each such  committee.  Until further
determination by the board of directors, the full board of directors
will  undertake the duties of the audit
committee,  compensation committee and nominating committee. We do not
currently have an "audit committee financial expert"  since we
currently do not have an audit committee in place.





Code
of Ethics





The Company has not adopted a Code of
Ethics for its principal executive and financial officers.  Due to the
Company’s limited operations the Company's Board of Directors does not believe a
code of ethics is necessary at this time. The Company’s Board of Directors will
revisit  this issue in the future
to  determine  if  adoption of a code of ethics
is  appropriate.  In the meantime, the
Company's  management  intends to promote honest and
ethical  conduct,  full and fair  disclosures in
its reports with the SEC, and compliance with the applicable governmental laws
and regulations.




ITEM
11.  EXECUTIVE COMPENSATION.




The
following table sets forth information concerning all cash and non-cash
compensation awarded to, earned by or paid to our officers for services during
the last three fiscal years in all capacities to us, our subsidiaries and
predecessors. No executive officer received compensation of $100,000 or more in
any of the last three fiscal years.





Summary
Compensation Table





Name
      and
                                    Principal
                                    Position
                                  
                                  Year
                                  
                                  Salary
                                    ($)
                                  
                                  
                                  Bonus
                                    ($)
                                  
                                  
                                  Stock
                                    Awards
                                    ($)
                                  
                                  
                                  Option
                                    Awards
                                    ($)
                                  
                                  
                                  Non-
                                    Equity
                                    Incentive
      Plan
                                    Compensation
                                    Earnings
      ($)
                                  
                                  
                                  Non-
                                    qualified
                                    Deferred
                                    Compensation
                                    Earnings
      ($)
                                  
                                  
                                  All
      Other
                                    Compensation
                                    ($)
                                  
                                  
                                  Total
                                    ($)Bernard
      Chan
                                  
                                  2007
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0CEO,
      President, Secretary
                                  
                                  2008
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0And
      Director
                                  
                                  2009
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0
                                  
                                  
                                  
                                  0




21





Outstanding
Equity Awards at Fiscal Year End




None of
our executive officers received any equity awards, including, options,
restricted stock or other equity incentives, during the fiscal year ended June
30, 2010.




Additional
Narrative Disclosures




All of
our employees, including our executive officers, are employed at will and none
of our employees has entered into an employment agreement with us. We do not
have any bonus, deferred compensation or retirement plan.





Director
Compensation




We have
no standard arrangements in place to compensate our directors for their service
as directors or as members of any committee of directors. In the future, if we
retain non-employee directors, we may decide to compensate them for their
service to us as directors and members of committees.





ITEM
12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
AND RELATED STOCKHOLDER MATTERS




The following table sets forth
information regarding beneficial ownership of our common stock as of September
1, 2010 (i) by each person who is known by us to beneficially own more than five
percent of our common stock; (ii) by each of our officers and directors; and
(iii) by all of our officers and directors as a group:




Title of Class
                          
                          Name and Address of Beneficial Owner
                          
                          Amount and Nature of
                            Beneficial Owner (1)
                          
                          
                          Percent of
                            Class (2)Common
      Stock
                          
                          Bernard Chan 15D, Eton Building 288 Des Voeux
      Road Central Hong Kong
                          
                          
                          18,850,000
                          
                          
                          
                          75.40
                          %





(1)
            In determining beneficial
      ownership of our common stock, the number of shares shown includes shares
      which the beneficial owner may acquire upon exercise of warrants and
      options which may be acquired within 60 days. In determining the percent
      of common stock owned by a person or entity on September 1, 2010, (a) the
      numerator is the number of shares of the class beneficially owned by such
      person or entity, including shares which the beneficial ownership may
      acquire within 60 days of exercise of debentures, warrants and options,
      and (b) the denominator is the sum of (i) the total shares of that class
      outstanding on September 1, 2010 (25,000,000 shares of common stock), and
      (ii) the total number of shares that the beneficial owner may acquire upon
      exercise of the debentures, warrants and options. Unless otherwise stated,
      each beneficial owner has sole power to vote and dispose of its
      shares.





(2)
            In addition, in determining the
      percent of common stock owned by a person or entity on September 1, 2010,
      (a) the numerator is the number of shares of the class beneficially owned
      by such person and includes shares which the beneficial owner may acquire
      within 60 days upon conversion or exercise of a derivative security, and
      (b) the denominator is the sum of (i) the shares of that class outstanding
      on September 1, 2010, (25,000,000 shares of common stock) and (ii) the
      total number of shares that the beneficial owner may acquire upon
      conversion or exercise of a derivative security within such 60 day period.
      Unless otherwise stated, each beneficial owner has sole power to vote and
      dispose of the shares.





Changes
in Control





We do not
currently have any arrangements which if consummated may result in a change of
control of our Company.


22


ITEM
      13.
            CERTAIN
      RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR
      INDEPENDENCE




Certain
Relationships and Transactions with Related Persons





On April
26, 2006, Bernard Chan, the Company’s sole Officer and Director, received
18,850,000 common shares of the Company in connection with the Company’s
acquisition of Vast Opportunity, Ltd.





As of
June 30, 2010, the Company is indebted to Bernard Chan in the amount of $146,756
for loans made by Bernard Chan to the Company and the Company’s wholly owned
subsidiary, Vast Opportunity Limited. These loans bear no interest and are due
and payable by the Company upon demand.





Director
Independence




The Board
of Directors is currently composed of only 1 member, Mr. Chan. None of our
directors are “independent” directors, as that term is defined under the Nasdaq
listing standards.




ITEM
14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.




AUDIT
FEES





The
aggregate fees billed by our auditors, Paritz & Co., for professional
services rendered for the audit of our annual financial statements for fiscal
years ended June 30, 2010 and June 30, 2009 and review our interim financial
statements for the first, second and third quarters of 2010 will be
approximately $7,000.





AUDIT-RELATED
FEES




During
the last two fiscal years, no fees were billed or incurred for assurance or
related services by our auditors that were reasonably related to the audit or
review of financial statements reported above.





TAX
FEES




There
were no tax preparation fees billed for the fiscal years ended June 30, 2010 or
2009.




ALL OTHER
FEES




During
the last two fiscal years, no other fees were billed or incurred for services by
our auditors other than the fees noted above. Our board, acting as an audit
committee, deemed the fees charged to be compatible with maintenance of the
independence of our auditors.





THE BOARD
OF DIRECTORS PRE-APPROVAL POLICIES





We do not
have a separate audit committee. Our full board of directors performs the
functions of an audit committee. Before an independent auditor is engaged by us
to render audit or non-audit services, our board of directors pre-approves the
engagement. Board of directors pre-approval of audit and non-audit services will
not be required if the engagement for the services is entered into pursuant to
pre-approval policies and procedures established by our board of directors
regarding our engagement of the independent auditor, provided the policies and
procedures are detailed as to the particular service, our board of directors is
informed of each service provided, and such policies and procedures do not
include delegation of our board of directors' responsibilities under the
Exchange Act to our management. Our board of directors may delegate to one or
more designated members of our board of directors the authority to grant
pre-approvals, provided such approvals are presented to the board of directors
at a subsequent meeting. If our board of directors elects to establish
pre-approval policies and procedures regarding non-audit services, the board of
directors must be informed of each non-audit service provided by the independent
auditor. Board of directors pre-approval of non-audit services, other than
review and attest services, also will not be required if such services fall
within available exceptions established by the SEC. For the fiscal year ended
June 30, 2010, 100% of audit-related services, tax services and other services
performed by our independent auditors were pre-approved by our board of
directors.


23





Our board
has considered whether the services described above under the caption "All Other
Fees", which are currently none, is compatible with maintaining the auditor's
independence.





The board
approved all fees described above.


24


PART
IV





ITEM
15. Exhibits, Financial Statement Schedules





The
following documents are filed as part of this 10-K:





1.
 FINANCIAL STATEMENTS





The
following documents are filed in Part II, Item 8 of this annual report
on Form 10-K:





·
            Report
      of Paritz & Co., Independent Registered Certified Public
      Accounting Firm





·
            Balance
      Sheets as of June 30, 2010 and 2009





·
            Statements
      of Operations for the years ended June 30, 2010 and 2009 and for the
      period from inception (April 13, 2006) to June 30,
  2010





·
            Statements
      of Changes in Stockholders’ Equity as of June 30,
  2010





·
            Statements
      of Cash Flows for the years ended June 30, 2010 and 2009 and for the
      period from inception (April 13, 2006) to June 30,
  2010





·
            Notes
      to Financial Statements for the period ended June 30,
  2010





2.
 FINANCIAL STATEMENT SCHEDULES





All
financial statement schedules have been omitted as they are not required, not
applicable, or the required information is otherwise included.





3.
 EXHIBITS





The
exhibits listed below are filed as part of or incorporated by reference in this
report.





ExhibitNo.
              
              IdentificationofExhibit23.1.
              
              Consent
      of Paritz & Co. regarding audited financial statements for the periods
      ending June 30, 2010 and June 30, 200931.1.
              
              Certification
      of the Chief Executive Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.31.2.
              
              Certification
      of the Chief Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.32.1
              
              Certification
      of the 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.




25


SIGNATURES





Pursuant
to the requirements of Section 13 or 15(d) of the Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.





Asia Document Transition,
    Inc.(Registrant)By/s/ Bernard ChanBernard
      ChanChief
      Executive Officer, Chief FinancialOfficer,
      Principal Executive Officer,Principal
      Accounting Officer, President,Secretary,
      treasurer and sole DirectorDateSeptember
      29, 2010




Pursuant
to the requirements of the Securities Exchange Act of 1934, this report has been
signed below by the following person on behalf of the registrant and in the
capacity and on the date indicated.





By/s/ Bernard ChanBernard
      ChanSole
      DirectorDateSeptember
      29, 2010


26


EXHIBIT
INDEX





ExhibitNo.
              
              IdentificationofExhibit23.1.
              
              Consent
      of Paritz & Co. regarding audited financial statements for the periods
      ending June 30, 2010 and June 30, 200931.1.
              
              Certification
      of the Chief Executive Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.31.2.
              
              Certification
      of the Chief Financial Officer pursuant to Section 302 of the
      Sarbanes-Oxley Act of 2002.32.1
              
              Certification
      of the 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.




27