##### 



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D. C. 20549
 FORM 10-K
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
 For the fiscal year ended December 31, 2007
 Commission file number 333-141057
 PRINTING COMPONENTS INC.
 (Exact name of registrant as specified in its charter)
 Nevada  (State or other jurisdiction of incorporation or organization)
 2795 Barton Street, East
Unit 5
Hamilton, Ontario
Canada L8E 2J8  (Address of principal executive offices, including zip code.)
 (905) 578-3232  (Registrants telephone number, including area code)
 o Yes No þ
 o Yes No þ
 þ Yes No o
 o
  Large accelerated
filero
    
    Accelerated
filero
    
    Non-accelerated
filero
    
    Smaller reporting
companyþ(Do not check if a smaller reporting company)
 þ Yes o No
 December 31, 2007: $1,864,960.50.




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##### 



TABLE OF CONTENTS
 PagePART IItem 1.
    
    Business
    
    
    3Item 1A.
    
    Risk Factors
    
    
    8Item 1B.
    
    Unresolved Staff Comments
    
    
    10Item 2.
    
    Properties
    
    
    10Item 3.
    
    Legal Proceedings
    
    
    10Item 4.
    
    Submission of Matters to a Vote of Security Holders
    
    
    10PART IIItem 5.
    
    Market For Common Stock and Related Stockholder Matters
    
    
    10Item 6.
    
    Selected Financial Data
    
    
    13Item 7.
    
    Management's Discussion and Analysis of Financial Condition or Plan of Operation
    
    
    13PART IIIItem 7A.
    
    Quantitative and Qualitative Disclosures about Market Risk
    
    
    18Item 8.
    
    Financial Statements and Supplementary Data
    
    
    19Item 9.
    
    Changes In and Disagreements With Accountants on Accounting and Financial Disclosure
    
    
    20Item 9A.
    
    Controls and Procedures
    
    
    20Item 9B.
    
    Other Information
    
    
    22Item 10.
    
    Directors, Executive Officers, Promoters and Control Persons; Compliance with Section 16(a) of the Exchange Act
    
    
    23Item 11.
    
    Executive Compensation
    
    
    25Item 12.
    
    Security Ownership of Certain Beneficial Owners and Management
    
    
    27Item 13.
    
    Certain Relationships and Related Transactions, and Director Independence
    
    
    28PART IVItem 14.
    
    Principal Accountant Fees and Services
    
    
    28Item 15.
    
    Exhibits, Financial Statement Schedules
    
    
    30
 -2-




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##### 



PART I
 ITEM 1. BUSINESS
 General
    Products
  *
    
    Vinyl Banner material used for indoor and outdoor display banners; truck
lettering; car wraps and floor graphics.*
    
    Canvas for fine art reproductions.*
    
    Paper.*
    
    PolyBanner for billboards and other outside display standards.*
    
    Inks.*
    
    Ink cartridges*
    
    Large format prints*
    
    Laminators
 -3-




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Sales and Marketing
    Website
    -4-




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##### 



Convenient Shopping Experience.
  Customer Service
  Online Retail Store
  Shopping at our Online Store
  Browsing
  Selecting a Product and Checking Out
  -5-




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Paying
   Source of Products
   Competition
   -6-




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Insurance
  Employees; Identification of Certain Significant Employees.
  Offices
  Government Regulation
    -7-




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##### 



ITEM 1A. RISK FACTORS
 Please consider the following risk factors before deciding to invest in our common stock.
 Risks associated with PRINTING COMPONENTS INC.:
 1. We lack an operating history and have losses which we expect to continue into the future.
There is no assurance our operations will result in profitable revenues. If we cannot generate
sufficient revenues to operate profitably, we may suspend or cease operations.
  *
    
    our ability to locate suppliers who will sell products to our customers*
    
    our ability to attract customers who will buy products from our website*
    
    our ability to generate revenues
  2. Because we are small and do not have much capital, we must limit marketing our services
to potential customers and suppliers. As a result, we may not be able to attract enough customers
to operate profitably. If we do not make a profit, we may have to suspend or cease operations .
  3. Because our officers and directors will only be devoting limited time to our operations,
our operations may be sporadic which may result in periodic interruptions or suspensions of
operations. This activity could prevent us from attracting suppliers and customers and result in a
lack of revenues which may cause us to cease operations.
 -8-




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##### 



4. Because our management does not have prior experience in the marketing of products via the
Internet, we may have to hire individuals or suspend or cease operations.
  5. Because most of our assets and our officers and directors are located outside the United
States of America, it may be difficult for an investor to enforce within the United States any
judgments obtained against us or any of our officers and directors.
  6. Because our officers and directors do not have prior experience in financial accounting and
the preparation of reports under the Securities Exchange Act of 1934, we may have to hire
individuals which could result in an expense we are unable to pay.
  7. Because the SEC imposes additional sales practice requirements on brokers who deal in our
shares which are penny stocks, some brokers may be unwilling to trade them. This means that you
may have difficulty reselling your shares and this may cause the price of the shares to decline.
 -9-




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##### 



ITEM 1B. UNRESOLVED STAFF COMMENTS
  ITEM 2. PROPERTIES
  ITEM 3. LEGAL PROCEEDINGS
  ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  PART II
 ITEM 5. MARKET FOR COMMON STOCK AND RELATED STOCKHOLDER MATTERS
  Fiscal Year
    
    High Bid
    
    Low Bid2007Fourth Quarter 10-1-07 to 12-31-07
    
    $
    3.25
    
    
    $
    0.30Third Quarter 7-1-07 to 9-30-07
    
    $
    0.00
    
    
    $
    0.00Second Quarter 4-1-07 to 6-30-07
    
    $
    0.00
    
    
    $
    0.00First Quarter 1-1-07 to 3-31-07
    
    $
    0.00
    
    
    $
    0.00
 -10-




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##### 



Fiscal Year
    
    High Bid
    
    Low Bid2006Fourth Quarter 10-1-06 to 12-31-06
    
    $
    0.00
    
    
    $
    0.00Third Quarter 7-1-06 to 9-30-06
    
    $
    0.00
    
    
    $
    0.00Second Quarter 4-1-06 to 6-30-06
    
    $
    0.00
    
    
    $
    0.00First Quarter 1-1-06 to 3-31-06
    
    $
    0.00
    
    
    $
    0.00
 -11-




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##### 



Dividends
   Section Rule 15(g of the Securities Exchange Act of 1934
         -12-




---



##### 



Securities authorized for issuance under equity compensation plans
  Use of Proceeds
  -amount still in cash balance
    
    $
    37,375-travel and entertainment
    
    
    21,404-professional fees
    
    
    26,700-meals and entertainment
    
    
    10,967-web page design
    
    
    5,600-rent
    
    
    4,601-office
    
    
    2,696-bank charges
    
    
    607-registration fees
    
    
    2,199-inventory (net of sales)
    
    
    5,040-director advances repaid
    
    
    5,436122,625
 ITEM 6. SELECTED FINANCIAL DATA
  ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
  -13-




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##### 



Plan of Operation
   -14-




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##### 



Milestones
     Limited operating history; need for additional capital
   -15-




---



##### 



Results of operations  From Inception on December 12, 2006 to December 31, 2007
         Liquidity and capital resources
    -16-




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##### 



Recent accounting pronouncements
 Employers Accounting for Defined Benefit
Pension and Other Postretirement Plans  an amendment of FASB Statements No. 87, 88, 106, and
132(R)
 Fair Value Measurements
 Accounting for Uncertainty in Income Taxes, an interpretation of FASB Statements No. 109"
 Accounting for Servicing of Financial Assets,
an amendment of FASB Statement No. 140, Accounting for Transfers and Servicing of Financial Assets
and Extinguishments of Liabilities
 -17-




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##### 



Accounting for Certain Hybrid Financial
Instruments-an amendment of FASB Statements No. 133 and 140 Accounting for
Derivative Instruments and Hedging Activities Accounting for the Impairment or Disposal of Long-Lived Assets
 ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
  -18-




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##### 



ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
 PRINTING COMPONENTS INC.
(A DEVELOPMENT STAGE COMPANY)
 DECEMBER 31, 2007
 PAGEINDEPENDENT AUDITORS REPORT
    
    F-1BALANCE SHEET
    
    F-2STATEMENTS OF OPERATIONS
    
    F-3STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIENCY
    
    F-4STATEMENTS OF CASH FLOWS
    
    F-5NOTES TO FINANCIAL STATEMENTS
    
    F-6
 19




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##### 



KEMPISTY & COMPANY  CERTIFIED PUBLIC ACCOUNTANTS, P.C.   15 MAIDEN LANE  SUITE 1003  NEW YORK, NY 10038  TEL (212) 406-7272  FAX (212) 513-1930
 INDEPENDENT AUDITORS REPORT
 
     
 F-1




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##### 



PRINTING COMPONENTS INC.
(a DEVELOPMENT STAGE COMPANY)
 BALANCE SHEETS
 December 31,2007
    
    
    2006ASSETSCurrent Assets:Cash and cash equivalents
    
    $
    87,375
    
    
    $
    1,550Accounts receivable
    
    
    8,087
    
    
    
    Inventory
    
    
    5,245
    
    
    
    Total Current Assets
    
    
    100,707
    
    
    
    1,550Fixed assets, net (Note 5)
    
    
    12,818
    
    
    
    TOTAL ASSETS
    
    $
    113,525
    
    
    $
    1,550LIABILITIES AND STOCKHOLDERS EQUITYCurrent Liabilities:Accrued liabilities-other
    
    $
    10,712
    
    
    $
    3,500Accrued officers salaries
    
    
    150,000
    
    
    
    Due to officer/shareholder (Note 4)
    
    
    31,240
    
    
    
    16,500Total Current Liabilities
    
    
    191,952
    
    
    
    20,000Commitments and contingencies (Note 7)
    
    
    
    
    
    
    Stockholders Deficiency (Note 2)Preferred stock, $0.00001 par value,
none issued and outstanding
    
    
    
    
    
    
    Common stock, $0.00001 par value, 100,000,000 shares authorized,
5,573,834 shares issued and outstanding at December 31, 2007
    
    
    56
    
    
    
    50Paid-in-capital
    
    
    172,619
    
    
    
    Deficit Accumulated during the Development Stage
    
    
    (251,102
    )
    
    
    (18,500
    )Total Stockholders Deficiency
    
    
    (78,427
    )
    
    
    (18,450
    )TOTAL LIABILITIES AND STOCKHOLDERS DEFICIENCY
    
    $
    113,525
    
    
    $
    1,550
 See accompanying notes to financial statements
 F-2




---



##### 



PRINTING COMPONENTS INC.
(A DEVELOPMENT STAGE COMPANY)
 STATEMENTS OF OPERATIONS
 For the Period
    
    
    For the PeriodFor the Year
    
    
    December 12,
    
    
    December 12,Ended
    
    
    2006 (inception)
    
    
    2006 (inception)December 31,
    
    
    to December 31,
    
    
    to December 31,2007
    
    
    2006
    
    
    2007Revenue
    
    $
    15,887
    
    
    $
    
    
    
    $
    15,887Cost of Sales:Inventory  beginning of period
    
    
    
    
    
    
    
    
    
    
    Purchases
    
    
    12,840
    
    
    
    
    
    
    
    12,840Inventory  end of period
    
    
    (5,245
    )
    
    
    
    
    
    
    (5,245
    )7,595
    
    
    
    
    
    
    
    7,595Gross Profit
    
    
    8,292
    
    
    
    
    
    
    
    8,292ExpensesSalaries
    
    
    150,000
    
    
    
    
    
    
    
    150,000Travel and entertainment
    
    
    22,717
    
    
    
    
    
    
    
    22,717Professional fees
    
    
    37,412
    
    
    
    18,500
    
    
    
    55,912Meals and entertainment
    
    
    11,145
    
    
    
    
    
    
    
    11,145Web page design
    
    
    5,600
    
    
    
    
    
    
    
    5,600Rent
    
    
    6,413
    
    
    
    
    
    
    
    6,413Office
    
    
    2,947
    
    
    
    
    
    
    
    2,947Depreciation
    
    
    1,600
    
    
    
    
    
    
    
    1,600Bank charges
    
    
    735
    
    
    
    
    
    
    
    735Registration fees
    
    
    2,325
    
    
    
    
    
    
    
    2,325240,894
    
    
    
    18,500
    
    
    
    259,394Net Loss
    
    $
    (232,602
    )
    
    $
    (18,500
    )
    
    $
    (251,102
    )Basic and diluted net loss per share
    
    $
    (0.04
    )
    
    $
    (0.00
    )Weighted average shares used in calculating
Basic and diluted net loss per share
    
    
    5,333,719
    
    
    
    5,000,000
 See accompanying notes to financial statements
 F-3




---



##### 



PRINTING COMPONENTS INC.
(A DEVELOPMENT STAGE COMPANY)
 STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIENCY
 FOR THE PERIOD DECEMBER 12, 2006 (INCEPTION) TO DECEMBER 31, 2006 AND THE YEAR ENDED DECEMBER 31, 2007
 DeficitAccumulatedPreferred Stock
    
    
    Common Stock
    
    
    Additional
    
    
    During the
    
    
    Total$.00001 par value
    
    
    $.00001 par value
    
    
    Paid-In
    
    
    Development
    
    
    StockholdersShares
    
    
    Amount
    
    
    Shares
    
    
    Amount
    
    
    Capital
    
    
    Stage
    
    
    DeficiencyBalance December 12, 2006
(inception)
    
    
    
    
    
    $
    
    
    
    
    
    
    
    $
    
    
    
    $
    
    
    
    $
    
    
    
    $
    Sale of common shares
    
    
    
    
    
    
    
    
    
    
    5,000,000
    
    
    
    50
    
    
    
    
    
    
    
    
    
    
    
    50Net loss
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (18,500
    )
    
    
    (18,500
    )Balance December 31, 2006
    
    
    
    
    
    
    
    
    
    
    5,000,000
    
    
    
    50
    
    
    
    
    
    
    
    (18,500
    )
    
    
    (18,450
    )Sale of common shares
    
    
    
    
    
    
    
    
    
    
    573,834
    
    
    
    6
    
    
    
    172,619
    
    
    
    
    
    
    
    172,625Net loss
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    (232,602
    )
    
    
    (232,602
    )Balance December 31, 2007
    
    
    
    
    
    $
    
    
    
    
    5,573,834
    
    
    $
    56
    
    
    $
    172,619
    
    
    $
    (251,102
    )
    
    $
    (78,427
    )
  F-4




---



##### 



PRINTING COMPONENTS INC.
 (A DEVELOPMENT STAGE COMPANY)
 STATEMENTS OF CASH FLOWS
 For the Period
    
    
    For the PeriodFor the Year
    
    
    December 12,
    
    
    December 12,Ended
    
    
    2006 (inception)
    
    
    2006 (inception)December 31,
    
    
    to December 31,
    
    
    to December 31,2007
    
    
    2006
    
    
    2007CASH FLOWS FROM OPERATING ACTIVITIES:Net loss
    
    $
    (232,602
    )
    
    $
    (18,500
    )
    
    $
    (251,102
    )Adjustments to reconcile net income to cash
used by operating activities:Depreciation
    
    
    1,600
    
    
    
    
    
    
    
    1,600Changes in operating assets and liabilities:(Increase) in inventory
    
    
    (12,840
    )
    
    
    
    
    
    
    (12,840
    )Increase in accounts payable
    
    
    157,212
    
    
    
    3,500
    
    
    
    160,712Total adjustments
    
    
    145,972
    
    
    
    3,500
    
    
    
    149,472NET CASH USED BY OPERATING ACTIVITIES
    
    
    (86,630
    )
    
    
    (15,000
    )
    
    
    (101,630
    )CASH FLOWS FROM INVESTING ACTIVITIES:Purchase of fixed assets
    
    
    (14,418
    )
    
    
    
    
    
    
    (14,418
    )CASH USED BY INVESTING ACTIVITIES
    
    
    (14,418
    )
    
    
    
    
    
    
    (14,418
    )CASH FLOWS FROM FINANCING ACTIVITIES:Officers advances
    
    
    14,248
    
    
    
    16,500
    
    
    
    30,773Proceeds from sales of common stock
    
    
    172,625
    
    
    
    50
    
    
    
    172,650CASH PROVIDED BY FINANCING ACTIVITIES
    
    
    186,873
    
    
    
    16,550
    
    
    
    203,423NET INCREASE IN CASH
    
    
    85,825
    
    
    
    1,550
    
    
    
    87,375CASHBeginning of year
    
    
    1,550
    
    
    
    
    
    
    
    End of year
    
    $
    87,375
    
    
    $
    1,550
    
    
    $
    87,375SUPPLEMENTAL CASH FLOW INFORMATION:Income tax paid
    
    $
    
    
    
    $
    
    
    
    $
    Interest paid
    
    $
    
    
    
    $
    
    
    
    $
    
 See accompanying notes to financial statements
 F-5




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PRINTING COMPONENTS INC.  (A DEVELOPMENT STAGE COMPANY)
 
 
                F-6




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##### 



PRINTING COMPONENTS INC.
(A DEVELOPMENT STAGE COMPANY)
 
 
                F-7




---



##### 



PRINTING COMPONENTS INC.
(A DEVELOPMENT STAGE COMPANY)
 
 
  Accumulated
    
    
    Net Book ValueCost
    
    
    Depreciation
    
    
    December 31, 2007Furniture
    
    $
    8,694
    
    
    $
    630
    
    
    $
    8,064Computers
    
    
    5,724
    
    
    
    970
    
    
    
    4,754$
    14,418
    
    
    $
    1600
    
    
    $
    12,818
   Year Ended
    
    
    Year EndedDecember 31, 2007
    
    
    December 31, 2006Current income tax expense (benefit)
    
    $
    (36,000
    )
    
    $
    (3,000
    )Deferred income tax
    
    
    36,000
    
    
    
    3,000$
    
    
    
    $
    
  Net operating loss carry forward
    
    $
    39,000Deferred tax asset
    
    
    39,000Valuation allowance
    
    
    (39,000
    )Net Deferred tax asset
    
    $
    
  F-8




---



##### 



PRINTING COMPONENTS INC.
(A DEVELOPMENT STAGE COMPANY)
 
 
  Tax expense (benefit) at Federal rate (34%)
    
    $
    (77,000
    )Federal bracket adjustment
    
    
    38,000State income tax, net of Federal benefit
    
    
    Change in valuation allowance
    
    
    39,000Net income tax (benefit) allowance
    
    $
    
       F-9




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##### 



ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
  ITEM 9A. CONTROLS AND PROCEDURES
 Evaluation of Disclosure Controls and Procedures
  Changes in Internal Controls
  Limitations on the Effectiveness of Controls
  -20-




---



##### 



CEO and CFO Certifications
  Managements Report on Internal Control over Financial Reporting
    -21-




---



##### 



Internal Control-Integrated
Framework
  ITEM 9B. OTHER INFORMATION
  -22-




---



##### 



PART III
 ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.
   Name and Address
    
    Age
    
    Position(s)Herb Adams 
22 Daffodil Cresent 
Ancaster, Ontario 
Canada L9K 1A3
    
    
    60
    
    
    president , principal executive officer, and
a member of the board of directorsMary Kricfalusi 
186 Maurice Drive 
Oakville, Ontario 
Canada L6K 2W9
    
    
    45
    
    
    secretary and a member of the board of
directorsJohn Dow 
261 Penn Drive 
Burlington, Ontario 
Canada L7N 2B9
    
    
    54
    
    
    treasurer, principal financial officer,
principal accounting officer, and a member of
the board of directors.
  Background of officers and directors
   -23-




---



##### 



Conflicts of Interest
  Involvement in Certain Legal Proceedings
  -24-




---



##### 



Audit Committee and Charter
  Audit Committee Financial Expert
  Code of Ethics
  Disclosure Committee and Charter
  Section 16(a) of the Securities Exchange Act of 1934
  ITEM 11. EXECUTIVE COMPENSATION
  -25-




---



##### 



Summary Compensation Table
 (h)Change inPensionValue &(g)
    
    Nonqual-Non-Equity
    
    ified
    
    (i)Incentive
    
    Deferred
    
    All(e)
    
    (f)
    
    Plan
    
    Compen-
    
    Other(a)
    
    
    
    
    
    (c)
    
    (d)
    
    Stock
    
    Option
    
    Compen-
    
    sation
    
    Compen-
    
    (j)Name and Principal
    
    (b)
    
    Salary
    
    Bonus
    
    Awards
    
    Awards
    
    sation
    
    Earnings
    
    sation
    
    TotalsPosition [1]
    
    Year
    
    ($)
    
    ($)
    
    ($)
    
    ($)
    
    (S)
    
    ($)
    
    ($)
    
    ($)Herb Adams
    
    
    2007
    
    
    
    60,000
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0President
    
    
    2006
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    02005
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0Mary Kricfalusi
    
    
    2007
    
    
    
    60,000
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0Secretary
    
    
    2006
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    02005
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0John Dow
    
    
    2007
    
    
    
    30,000
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0Treasurer
    
    
    2006
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    02005
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
    
    
    
    0
   Director Compensation Table
 (f)Change in(b)
    
    
    
    
    
    
    
    PensionFees
    
    
    
    
    
    (e)
    
    Value and
    
    (g)Earned
    
    
    
    
    
    Non-Equity
    
    Nonqualified
    
    Allor
    
    (c)
    
    (d)
    
    Incentive
    
    Deferred
    
    OtherPaid in
    
    Stock
    
    Option
    
    Plan
    
    Compensation
    
    Compen-
    
    (h)(a)
    
    Cash
    
    Awards
    
    Awards
    
    Compensation
    
    Earnings
    
    sation
    
    TotalName
    
    ($)
    
    ($)
    
    ($)
    
    ($)
    
    ($)
    
    ($)
    
    ($)Herb Adams
    
    0
    
    0
    
    0
    
    0
    
    0
    
    0
    
    0Mary Kricfalusi
    
    0
    
    0
    
    0
    
    0
    
    0
    
    0
    
    0John Dow
    
    0
    
    0
    
    0
    
    0
    
    0
    
    0
    
    0
 -26-




---



##### 



Long-Term Incentive Plan Awards
  Compensation of Directors
  Indemnification
   ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
  -27-




---



##### 



Name and AddressBeneficial Owner [1]
    
    Number of Shares Owned
    
    Percentage of OwnershipHerb Adams 
22 Daffodil Cresent 
Ancaster, Ontario 
Canada L9K 1A3
    
    
    6,000,000
    
    
    
    34.48
    %Mary Kricfalusi 
186 Maurice Drive 
Oakville, Ontario 
Canada L6K 2W9
    
    
    6,000,000
    
    
    
    34.48
    %John Dow 
261 Penn Drive 
Burlington, Ontario 
Canada L7N 2B9
    
    
    3,000,000
    
    
    
    17.24
    %
 
 [1]
    
    The persons named above may be deemed to be a parent and promoter of our company, within
the meaning of such terms under the Securities Act of 1933, as amended, by virtue of his/its
direct and indirect stock holdings. Mr. Adams, Ms. Kricfalusi and Mr. Dow are our only
promoters. ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
  ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
 (1) Audit Fees
  2007
    
    
    $
    10,933
    
    
    Kempisty & Company, Certified Public Accountants, P.C.2006
    
    
    $
    3,500
    
    
    Kempisty & Company, Certified Public Accountants, P.C.
 -28-




---



##### 



(2) Audit-Related Fees
  2007
    
    
    $
    0
    
    
    Kempisty & Company, Certified Public Accountants, P.C.2006
    
    
    $
    0
    
    
    Kempisty & Company, Certified Public Accountants, P.C.
 (3) Tax Fees
  2007
    
    
    $
    700
    
    
    Kempisty & Company, Certified Public Accountants, P.C.2006
    
    
    $
    700
    
    
    Kempisty & Company, Certified Public Accountants, P.C.
 (4) All Other Fees
  2007
    
    
    $
    0
    
    
    Kempisty & Company, Certified Public Accountants, P.C.2006
    
    
    $
    0
    
    
    Kempisty & Company, Certified Public Accountants, P.C.
   -29-




---



##### 



ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
 Incorporated by reference
    
    FiledExhibit
    
    Document Description
    
    Form
    
    Date
    
    Number
    
    herewith3.1
    
    Articles of Incorporation.
    
    SB-2
    
    03-05-07
    
    
    3.13.2
    
    Bylaws.
    
    SB-2
    
    03-05-07
    
    
    3.24.1
    
    Specimen Stock Certificate.
    
    SB-2
    
    03-05-07
    
    
    4.110.1
    
    Lease Agreement
    
    SB-2
    
    03-05-07
    
    
    10.114.1
    
    Code of Ethics.
    
    
    
    
    
    
    
    
    
    X31.1
    
    Certification of Principal
Executive Officer pursuant
to 15d-15(e), promulgated
under the Securities and
Exchange Act of 1934, as
amended.
    
    
    
    
    
    
    
    
    
    X31.2
    
    Certification of Principal
Financial Officer pursuant
to 15d-15(e), promulgated
under the Securities and
Exchange Act of 1934, as
amended.
    
    
    
    
    
    
    
    
    
    X32.1
    
    Certification pursuant to 18
U.S.C. Section 1350, as
adopted pursuant to Section
906 of the Sarbanes-Oxley
Act of 2002 (Chief Executive
Officer).
    
    
    
    
    
    
    
    
    
    X32.2
    
    Certification pursuant to 18
U.S.C. Section 1350, as
adopted pursuant to Section
906 of the Sarbanes-Oxley
Act of 2002 (Chief Financial
Officer).
    
    
    
    
    
    
    
    
    
    X99.1
    
    Audit Committee Charter.
    
    
    
    
    
    
    
    
    
    X99.2
    
    Disclosure Committee Charter.
    
    
    
    
    
    
    
    
    
    X
 -30-




---



##### 



SIGNATURES
  PRINTING COMPONENTS INC.BY:
    
    Herb Adams, President and Principal Executive OfficerBY:
    
    John Dow, Treasurer, Principal Financial Officer, and
Principal Accounting Officer
  Signature
    
    Title
    
    Date/s/  HERB ADAMS
Herb Adams
    
    President and Principal Executive Officer
    
    April 15, 2008/s/  JOHN DOW
John Dow
    
    Treasurer, Principal Financial Officer, and
Principal Accounting Officer
    
    April 15, 2008
 -31-




---



##### 



EXHIBIT INDEX
 Incorporated by reference
    
    FiledExhibit
    
    Document Description
    
    Form
    
    Date
    
    Number
    
    herewith3.1
    
    Articles of Incorporation.
    
    SB-2
    
    03-05-07
    
    
    3.13.2
    
    Bylaws.
    
    SB-2
    
    03-05-07
    
    
    3.24.1
    
    Specimen Stock Certificate.
    
    SB-2
    
    03-05-07
    
    
    4.110.1
    
    Lease Agreement
    
    SB-2
    
    03-05-07
    
    
    10.114.1
    
    Code of Ethics.
    
    
    
    
    
    
    
    
    
    X31.1
    
    Certification of Principal
Executive Officer pursuant
to 15d-15(e), promulgated
under the Securities and
Exchange Act of 1934, as
amended.
    
    
    
    
    
    
    
    
    
    X31.2
    
    Certification of Principal
Financial Officer pursuant
to 15d-15(e), promulgated
under the Securities and
Exchange Act of 1934, as
amended.
    
    
    
    
    
    
    
    
    
    X32.1
    
    Certification pursuant to 18
U.S.C. Section 1350, as
adopted pursuant to Section
906 of the Sarbanes-Oxley
Act of 2002 (Chief Executive
Officer).
    
    
    
    
    
    
    
    
    
    X32.2
    
    Certification pursuant to 18
U.S.C. Section 1350, as
adopted pursuant to Section
906 of the Sarbanes-Oxley
Act of 2002 (Chief Financial
Officer).
    
    
    
    
    
    
    
    
    
    X99.1
    
    Audit Committee Charter.
    
    
    
    
    
    
    
    
    
    X99.2
    
    Disclosure Committee Charter.
    
    
    
    
    
    
    
    
    
    X
 -32-