**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**WASHINGTON,
      D.C. 20549**





**FORM
      10-Q**




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


**SECURITIES
      EXCHANGE ACT OF 1934**




**For
      the quarterly period ended March 31, 2007**





**OR**





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


**SECURITIES
      EXCHANGE ACT OF 1934**





**Commission
      File Number**


**000-51981**







**ASIA
      TIME CORPORATION**


*(Exact
      name of small business issuer as specified in its charter)*





**Delaware**
              *(State
                or other jurisdiction of incorporation*
              *or
                organization)*
            
            **N/A**
              *(I.R.S.
                Employer Identification**No.)***Room
                1601-1604, 16/F., CRE Centre**
              **889
                Cheung Sha Wan Road,**
              **Kowloon,
                Hong Kong******
              *(Address
                of principal executive offices)*
            
            **N/A**
              *(Zip
                Code)*





**(852)-23100101**


*(Registrant’s
      telephone number, including area code)*





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. Yes x No  o




Indicate
      by check mark whether the registrant is a large accelerated filer, an
      accelerated filer, or a non-accelerated filer. See definition of “accelerated
      filer and large accelerated filer” in Rule 12b-2 of the Exchange
      Act.





Large
      accelerated filer o Accelerated filer o Non-accelerated filer x




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




There
      were 23,156,629 shares outstanding of registrant’s common stock, par value
      $.0001 per share, as of May 1, 2007.










**ASIA
      TIME CORPORATION.**


**FORM
      10-Q QUARTERLY REPORT**





**TABLE
      OF CONTENTS**





**Page**PART
                I - FINANCIAL INFORMATION
            1ITEM
                1.
            FINANCIAL
                STATEMENTSCondensed
                Consolidated Balance Sheet (Unaudited)
            2Condensed
                Consolidated Income Statement (Unaudited)
            4Condensed
                Consolidated Statement of Cash Flows (Unaudited)
            5Notes
                to Condensed Consolidated Financial Statements (Unaudited)
            7ITEM
                2.
            MANAGEMENT’S
                DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
                OPERATION
            22ITEM
                3.
            QUANTITATIVE
                AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
            29ITEM
                4.
            CONTROLS
                AND PROCEDURES
            29PART
                II - OTHER INFORMATIONITEM
                1.
            LEGAL
                PROCEEDINGS
            30ITEM
                1A.
            RISK
                FACTORS
            30ITEM
                2.
            UNREGISTERED
                SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
            30ITEM
                3.
            DEFAULTS
                UPON SENIOR SECURITIES
            30ITEM
                4.
            SUBMISSION
                OF MATTERS TO A VOTE OF SECURITY HOLDERS
            30ITEM
                5.
            OTHER
                INFORMATION
            30ITEM
                6.
            EXHIBITS
            30SIGNATURES
            
            31












**PART
      I - FINANCIAL INFORMATION**





**ITEM
      1.**  **FINANCIAL
      STATEMENTS**





The
      accompanying unaudited financial statements have been prepared in accordance
      with accounting principles generally accepted in the United States of America
      for interim financial information and with the instructions to Form 10-Q.
      Accordingly, they do not include all of the information and footnotes required
      by generally accepted accounting principles for complete financial statements.
      The accompanying unaudited financial statements reflect all adjustments that,
      in
      the opinion of management, are considered necessary for a fair presentation
      of
      the financial position, results of operations, and cash flows for the periods
      presented. The results of operations for such periods are not necessarily
      indicative of the results expected for the full fiscal year or for any future
      period. The accompanying unaudited financial statements should be read in
      conjunction with the audited financial statements of Asia Time Corporation
      included in the Form 10-K for the fiscal year ended December 31, 2006 as filed
      with the Securities and Exchange Commission on April 17, 2007.







1


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





CONDENSED
      CONSOLIDATED BALANCE SHEET


(Stated
      in US Dollars)








***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$*****ASSETS**Current
                Assets :Cash
                and cash equivalents
            
            
            170,340
            
            
            319,814Restricted
                cash
            
            
            4,604,317
            
            
            4,523,679Accounts
                receivable
            
            
            13,839,068
            
            
            8,188,985Prepaid
                expenses and other receivables - Note 10
            
            
            5,675,551
            
            
            2,126,133Tax
                prepayment
            
            
            -
            
            
            767Inventories,
                net - Note 11
            
            
            895,538
            
            
            6,620,361Prepaid
                lease payments - Note 13
            
            
            17,079
            
            
            22,958Total
                Current Assets
            
            
            25,201,893
            
            
            21,
                802,697Deferred
                tax assets - Note 7
            
            
            13,969
            
            
            14,042Plant
                and equipment, net - Note 12
            
            
            820,489
            
            
            890,258Leasehold
                lands - Note 13
            
            
            890,740
            
            
            895,322Held-to-maturity
                investments - Note 14
            
            
            299,654
            
            
            301,196Intangible
                assets - Note 15
            
            
            305,158
            
            
            337,836Restricted
                cash
            
            
            299,654
            
            
            257,301**TOTAL
                ASSETS**
            
            
            27,831,557
            
            
            24,498,652**LIABILITIES
                AND STOCKHOLDERS’ EQUITY****LIABILITIES**Current
                Liabilities :Accounts
                payable
            
            
            805,344
            
            
            770,360Other
                payables and accrued liabilities - Note 16
            
            
            139,455
            
            
            190,358Advance
                from related parties - Note 17
            
            
            -
            
            
            33,000Income
                tax payable
            
            
            1,737,662
            
            
            1,453,051Bank
                borrowings - Note 18
            
            
            12,661,617
            
            
            13,205,167Total
                Current Liabilities
            
            
            15,344,078
            
            
            15,651,936Deferred
                tax liabilities - Note 7
            
            
            31,548
            
            
            31,711**TOTAL
                LIABILITIES**
            
            
            15,375,626
            
            
            15,683,647






See
      notes
      to condensed consolidated financial statements




2


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





CONDENSED
      CONSOLIDATED BALANCE SHEET (Cont’d)


(Stated
      in US Dollars)











***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$*****STOCKHOLDERS’
                EQUITY**Preferred
                stock - Note 19Par
                value : 2007 - US$0.0001 (2006 - US$0.0001)Authorized:
                2007 - 10,000,000 shares (2006 - 10,000,000)Issued
                and outstanding: 2007 - 2,250,348 shares (2006 - none)
            
            
            225
            
            
            -Common
                stock - Note 19Par
                value : 2007 - US$0.0001 (2006 - US$0.0001)Authorized:
                2007 - 100,000,000 shares (2006 - 100,000,000)Issued
                and outstanding: 2007 - 23,156,629 shares (2006 -
                23,156,629)
            
            
            2,316
            
            
            2,316Additional
                paid-in capital
            
            
            2,553,663
            
            
            656,095Accumulated
                other comprehensive income
            
            
            (44,607
            )
            
            7,470Retained
                earnings
            
            
            9,944,334
            
            
            8,149,124**TOTAL
                STOCKHOLDERS’ EQUITY**
            
            
            12,455,931
            
            
            8,815,005**TOTAL
                LIABILITIES AND STOCKHOLDERS’ EQUITY**
            
            
            27,831,557
            
            
            24,498,652








See
      notes
      to condensed consolidated financial statements




3


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





CONDENSED
      CONSOLIDATED INCOME STATEMENT


(Stated
      in US Dollars)





***Three
                months ended March 31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Unaudited)******$***
            
            ***$***Net
                sales
            
            
            21,118,142
            
            
            20,303,091Cost
                of sales
            
            
            (18,255,983
            )
            
            (18,080,818
            )Gross
                profit
            
            
            2,862,159
            
            
            2,222,273Depreciation
            
            
            (65,431
            )
            
            (75,753
            )Administrative
                and other operating expenses
            
            
            (434,843
            )
            
            (314,342
            )Income
                from operations
            
            
            2,361,885
            
            
            1,832,178Other
                income - Note 5
            
            
            78,426
            
            
            84,818Interest
                expenses - Note 6
            
            
            (239,429
            )
            
            (200,556
            )Income
                before taxes
            
            
            2,200,882
            
            
            1,716,440Income
                taxes - Note 7
            
            
            (405,672
            )
            
            (297,150
            )Net
                income
            
            
            1,795,210
            
            
            1,419,290Earnings
                per share of common stock (cents) - note 9-
                Basic
            
            
            7.75
            
            
            6.13-
                Diluted
            
            
            7.07
            
            
            5.59Weighted
                average number of common stock - note 9-
                Basic
            
            
            23,156,629
            
            
            23,156,629-
                Diluted
            
            
            25,406,977
            
            
            25,406,977








See
      notes
      to condensed consolidated financial statements





4


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





CONDENSED
      CONSOLIDATED STATEMENT OF CASH FLOWS


(Stated
      in US Dollars)





***Three
                months ended March 31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Unaudited)******$***
            
            ***$*****Cash
                flows from operating activities**Net
                income
            
            
            1,795,210
            
            
            1,419,290Adjustments
                to reconcile net income to net cash flowsprovided by operating
                activities :Amortisation
                of intangible assets
            
            
            31,023
            
            
            38,720Amortisation
                of leasehold lands
            
            
            5,774
            
            
            2,023Depreciation
            
            
            65,431
            
            
            75,753Gain
                on disposal of plant and equipment
            
            
            -
            
            
            (2,037
            )Income
                taxes
            
            
            405,672
            
            
            297,150Changes
                in operating assets and liabilities :Accounts
                receivable
            
            
            (5,705,639
            )
            
            (766,647
            )Prepaid
                expenses and other receivables
            
            
            (3,568,652
            )
            
            (1,404,441
            )Inventories
            
            
            5,704,558
            
            
            232,620Accounts
                payable
            
            
            39,021
            
            
            187,074Other
                payables and accrued liabilities
            
            
            (63,519
            )
            
            (395
            )Advance
                from related parties
            
            
            (19,655
            )
            
            (1,069,745
            )Income
                tax payable
            
            
            (112,158
            )
            
            (33,989
            )Unearned
                income
            
            
            -
            
            
            (1,238,248
            )Net
                cash flows used in operating activities
            
            
            (1,422,934
            )
            
            (2,262,872
            )**Cash
                flows from investing activities**Acquisition
                of plant and equipment
            
            
            (64
            )
            
            (381,125
            )Proceeds
                from disposal of plant and equipment
            
            
            -
            
            
            2,037Net
                cash flows used in investing activities
            
            
            (64
            )
            
            (379,088
            )**Cash
                flows from financing activities**Proceeds
                from issuance of common stocks
            
            
            1,897,793
            
            
            2,167Repayment
                of short-term bank loans
            
            
            (321,849
            )
            
            (54,359
            )Net
                advancement of other bank borrowings
            
            
            (86,461
            )
            
            3,945,192Increase
                in restricted cash
            
            
            (147,822
            )
            
            (1,808,096
            )Decrease
                in bank overdrafts
            
            
            (68,773
            )
            
            (109,056
            )Net
                cash flows provided by financing activities
            
            
            1,272,888
            
            
            1,975,848Net
                decrease in cash and cash equivalents
            
            
            (150,110
            )
            
            (666,112
            )Effect
                of foreign currency translation on cash and cash
                equivalents
            
            
            636
            
            
            (266
            )Cash
                and cash equivalents - beginning of year
            
            
            319,814
            
            
            780,090Cash
                and cash equivalents - end of period
            
            
            170,340
            
            
            113,712







See
      notes
      to condensed consolidated financial statements




5





ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





CONDENSED
      CONSOLIDATED STATEMENT OF CASH FLOWS (Cont’d)


(Stated
      in US Dollars)








***Three
                months ended March 31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Unaudited)******$***
            
            ***$***Supplemental
                disclosures for cash flow information :Cash
                paid for :Interest
            
            
            239,429
            
            
            200,556Income
                taxes
            
            
            112,158
            
            
            33,989








See
      notes
      to condensed consolidated financial statements




6




ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**1.**
            **Change
                of company name**





Effective
      from January 23, 2007, the Company changed its name from SRKP 9, Inc. to Asia
      Time Corporation (the “Company”).





**2.**
            **Corporation
                information****and
                reorganization**





Asia
      Time
      Corporation (the “Company”) (formerly SRKP 9, Inc.) was incorporated in the
      State of Delaware on January 3, 2006.





Recapitalization





The
      Company entered into an Exchange Agreement dated December 15, 2006 (the
“Exchange Agreement”) with Times Manufacture & E-Commerce Corporation
      Limited, a British Virgin Islands corporation (“Times Manufacture”) and Mr.
      Kwong Kai Shun, the sole shareholder of the 100% of the capital shares of Times
      Manufacture (“Original Shareholder”). The closing of the Exchange Agreement
      occurred on January 23, 2007.





The
      Company effectuated a 1.371188519-for-one stock reverse split in the course
      of
      the share exchange process such that there were 3,702,209 shares of common
      stock
      outstanding immediately prior to the closing of the Exchange
      Agreement.





At
      the
      closing of the Exchange Agreement, the Company acquired all of Times
      Manufacture’s capital shares (the “Times Manufacture Shares”) from the Original
      Shareholder, and the Original Shareholder transferred and contributed all of
      his
      Times Manufacture Shares to the Company. In exchange, the Company issued
      19,454,420 shares of its Common Stock to the Original Shareholder.





As
      a
      result of the closing of the Exchange Agreement, Times Manufacture became the
      wholly owned subsidiary of the Company and became the Company’s main operational
      business. The Exchange transaction, for accounting and financial reporting
      purposes, is deemed to be a reverse takeover transaction (“RTO”).





The
      RTO
      has been accounted for as a recapitalization of the Company whereby the
      historical financial statements and operations of Times Manufacture become
      the
      historical financial statements of the Company, with no adjustment to the
      carrying value of the assets and liabilities. The accompanying consolidated
      financial statements reflect the recapitalization of the stockholders’ equity as
      if the transaction occurred as of the beginning of the first period
      presented.








7




ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**3.**
            **Description
                of business**





The
      Company and its subsidiaries (the “Group”) are engaged in trading of completed
      watches and watch components.





Name
                of company
            Place
                and date of
              incorporation
            Issued
                and fully
              paid
                capital
            Principal
                activitiesTimes
                Manufacture & E-Commerce Corporation Ltd
            British
                Virgin Islands
              March
                21, 2002
            US$20,002
              Ordinary
            Investment
                holdingTimes
                Manufacturing & E-Commerce Corporation Ltd
            British
                Virgin Islands
              January
                2, 2002
            US$20,000
              Ordinary
            Investment
                holdingBillion
                Win International Enterprise Ltd (“BW”)
            Hong
                Kong
              March
                5, 2001
            HK$5,000,000
              Ordinary
            Trading
                of watch componentsGoldcome
                Industrial Ltd (“GI”)
            Hong
                Kong
              March
                2, 2001
            HK$10,000
              Ordinary
            Trading
                of watch componentsCitibond
                Industrial Ltd (“CI”)
            Hong
                Kong
              February
                28, 2003
            HK$1,000
              Ordinary
            Trading
                of watch componentsMegamooch
                International Ltd (“MI”)
            Hong
                Kong
              April
                2, 2001
            HK$100
              Ordinary
            Trading
                of watches and watch componentsTME
                Enterprise Ltd
            British
                Virgin Islands
              November
                28, 2003
            US$2
              Ordinary
            Investment
                holdingCitibond
                Design Ltd
            British
                Virgin Islands
              August
                1, 2003
            US$2
              Ordinary
            InactiveMegamooch
                Online Ltd
            British
                Virgin Islands
              June
                6, 2003
            US$2
              Ordinary
            Trading
                of watches and watch components








8


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**4.**
              **Summary
                  of significant accounting
                  policies**





Basis
      of presentation and consolidation





The
      accompanying condensed consolidated financial statements of the Company and
      its
      subsidiaries have been prepared in accordance with generally accepted accounting
      principles in the United States of America for interim consolidated financial
      information. Accordingly, they do not include all the information and notes
      necessary for comprehensive consolidated financial statements.





In
      the
      opinion of the management of the Company, all adjustments, which are of a normal
      recurring nature, necessary for a fair statement of the results for the
      three-month periods have been made. Results for the interim period presented
      are
      not necessarily indicative of the results that might be expected for the entire
      fiscal year. These condensed financial statements should be read in conjunction
      with the consolidated financial statements and the notes for the year ended
      December 31, 2006.





The
      consolidated financial statements include the accounts of the Company and its
      subsidiaries. All significant inter-company accounts and transactions have
      been
      eliminated in consolidation.




Use
      of
      estimates





In
      preparing financial statements in conformity with accounting principles
      generally accepted in the United States of America, management makes estimates
      and assumptions that affect the reported amounts of assets and liabilities
      and
      disclosures of contingent assets and liabilities at the dates of the financial
      statements, as well as the reported amounts of revenues and expenses during
      the
      reporting periods. These accounts and estimates include, but are not limited
      to,
      the valuation of accounts receivable, inventories, deferred income taxes and
      the
      estimation on useful lives of property, plant and equipment and intangible
      assets. Actual results could differ from those estimates.




Restricted
      cash





Deposits
      in banks for securities of bank overdrafts and borrowings that are restricted
      in
      use are classified as restricted cash.




9


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**4.**
            **Summary
                of significant accounting policies
                (Cont’d)**





Accounts
      receivable





Accounts
      receivable are stated at original amount less allowance made for doubtful
      receivables, if any, based on a review of all outstanding amounts at the period
      end. An allowance is also made when there is objective evidence that the Group
      will not be able to collect all amounts due according to original terms of
      receivables. Bad debts are written off when identified. The Group extends
      unsecured credit to customers in the normal course of business and believes
      all
      accounts receivable in excess of the allowances for doubtful receivables to
      be
      fully collectible. The Group does not accrue interest on trade accounts
      receivable.





During
      the reporting period, the Group had no bad debt experienced and, accordingly,
      did not make any allowance for doubtful debts.




Inventories





Inventories
      are stated at the lower of cost or market. Cost is determined on a first-in,
      first-out basis and includes only purchase costs. There are no significant
      freight charges, inspection costs and warehousing costs incurred for any of
      the
      periods presented. In assessing the ultimate realization of inventories, the
      management makes judgments as to future demand requirements compared to current
      or committed inventory levels. The Group’s reserve requirements generally
      increase as the management projected demand requirements; decrease due to market
      conditions, product life cycle changes. During the reporting period, the Company
      did not make any allowance for slow-moving or defective
      inventories.




Leasehold
      land





Leasehold
      lands, representing upfront payment for land use rights, are capitalized at
      their acquisition cost and amortized using the straight-line method over the
      lease terms.




Intangible
      assets





Intangible
      assets with limited useful lives are stated at cost less accumulated
      amortization and accumulated impairment losses.





Amortization
      of intangible assets is provided using the straight-line method over their
      estimated useful lives at the following annual rates :-





Trademarks
            
            
            20
            %Websites
            
            
            20
            %








10


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**4.**
            **Summary
                of significant accounting policies
                (Cont’d)**





Held-to-maturity
      investments





The
      company’s policies for investments in debt and equity securities are as
      follows:





Non-derivative
      financial assets with fixed or determinable payments and fixed maturities that
      the company has the positive ability and intention to hold to maturity are
      classified as held-to-maturity securities. Held-to-maturity securities are
      initially recognized in the balance sheet at fair value plus transaction costs.
      Subsequently, they are stated in the balance sheet at amortized cost using
      the
      effective interest method less any identified impairment losses.





Investments
      are recognized / derecognized on the date the company commits to  purchase
      / sell the investments or they expire.




Plant
      and equipment





Plant
      and
      equipment are stated at cost less accumulated depreciation. Cost represents
      the
      purchase price of the asset and other costs incurred to bring the asset into
      its
      existing use. Maintenance, repairs and betterments, including replacement of
      minor items, are charged to expense; major additions to physical properties
      are
      capitalized.





Depreciation
      of plant and equipment is provided using the straight-line method over their
      estimated useful lives at the following annual rates :-





Buildings
            
            
            over
                the unexpired lease termFurniture
                and fixtures
            
            
            20
                - 25
            %Office
                equipment
            
            
            25
                - 33
            %Machinery
                and equipment
            
            
            25
                - 33
            %Moulds
            
            
            33
            %Motor
                vehicles
            
            
            25
                - 33
            %





Upon
      sale
      or disposition, the applicable amounts of asset cost and accumulated
      depreciation are removed from the accounts and the net amount less proceeds
      from
      disposal is charged or credited to income.




Impairment
      of long-lived assets





Long-lived
      assets are reviewed for impairment whenever events or changes in circumstances
      indicate that the carrying amount of the assets may not be recoverable. The
      Group recognizes impairment of long-lived assets in the event that the net
      book
      values of such assets exceed the future undiscounted cashflows attributable
      to
      such assets.





No
      impairment of long-lived assets was recognized for any of the periods
      presented.





11




ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**4.**
            **Summary
                of significant accounting policies
                (Cont’d)**





Revenue
      recognition





Revenue
      from sales of the Group’s products is recognized when the significant risks and
      rewards of ownership have been transferred to the buyer at the time of delivery
      and the sales price is fixed or determinable and collection is reasonably
      assured.




Basic
      and diluted earnings per share





The
      Company reports basic earnings or loss per share in accordance with SFAS No.
      128, “Earnings Per Share”. Basic earnings per share is computed using the
      weighted average number of shares outstanding during the periods presented.
      The
      weighted average number of shares of the Company represents the common stock
      outstanding during the years.




Recent
      accounting pronouncements





In
      July
      2006, the FASB issued FIN 48 “Accounting for Uncertainty in Income Taxes.” This
      interpretation requires that we recognize in our financial statements, the
      impact of a tax position, if that position is more likely than not of being
      sustained on audit, based on the technical merits of the position. The
      provisions of FIN 48 are effective as of the beginning of our 2007 fiscal year,
      with the cumulative effect of the change in accounting principle recorded as
      an
      adjustment to opening retained earnings. The Company is currently evaluating
      the
      effect of FIN 48 on its financial statements.





In
      September 2006, the FASB issued SFAS No. 157 “Fair Value Measurement” (“SFAS
      157”). SFAS 157 defines fair value, establishes a framework for measuring fair
      value, and expands disclosures about fair value measurements. This Statement
      shall be effective for financial statements issued for fiscal years beginning
      after November 15, 2007, and interim periods within those fiscal years. Earlier
      application is encouraged, provided that the reporting entity has not yet issued
      financial statements for that fiscal year, including any financial statements
      for an interim period within that fiscal year. The provisions of this statement
      should be applied prospectively as of the beginning of the fiscal year in which
      this Statement is initially applied, except in some circumstances where the
      statement shall be applied retrospectively. The Company is currently evaluating
      the effect, if any, of SFAS 157 on its financial statements.





In
      September 2006, the SEC issued SAB No. 108, which provides guidance on the
      process of quantifying financial statement misstatements. In SAB No. 108, the
      SEC staff establishes an approach that requires quantification of financial
      statement errors, under both the iron-curtain and the roll-over methods, based
      on the effects of the error on each of the Company’s financial statements and
      the related financial statement disclosures. SAB No. 108 is generally effective
      for annual financial statements in the first fiscal year ending after November
      15, 2006. The transaction provisions of SAB No.108 permits existing public
      companies to record the cumulative effect in the first year ending after
      November 15, 2006 by recording correcting adjustments to the carrying values
      of
      assets and liabilities as of the beginning of that year with the offsetting
      adjustment recorded to the opening balance of retained earnings. The adoption
      of
      SAB No. 10 has no material effect on our financial statement.




12




ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**4.**
            **Summary
                of significant accounting policies
                (Cont’d)**





Recent
      accounting pronouncements (Cont’d)





On
      February 15, 2007, the FASB issued SFAS No. 159, “ The Fair Value Option for
      Financial Assets and Financial Liabilities - Including an Amendment of SFAS
      No.
      115.” The fair value option established by SFAS No. 159 permits all entities to
      choose to measure eligible items at fair value at specified election dates.
      A
      business entity will report unrealized gains and losses on items for which
      the
      fair value option has been elected in earnings (or another performance indicator
      if the business entity does not report earnings) at each subsequent reporting
      date. The fair value option: (a) may be applied instrument by instrument, with
      a
      few exceptions, such as investments otherwise accounted for by the equity
      method; (b) is irrevocable (unless a new election date occurs); and (c) is
      applied only to entire instruments and not to portions of instruments. SFAS
      No.
      159 is effective as of the beginning of an entity’s first fiscal year that
      begins after November 15, 2007. Early adoption is permitted as of the beginning
      of the previous fiscal year provided that the entity makes that choice in the
      first 120 days of that fiscal year and also elects to apply the provisions
      of
      SFAS. No.157. The Company does not early adopt this statement.




**5.**
            **Other
                income**





***Three
                months ended March 31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Unaudited)******$***
            
            ***$***Bank
                interest income
            
            
            29,002
            
            
            36,343License
                fee of intangible assets
            
            
            32,716
            
            
            41,905Net
                exchange gains
            
            
            927
            
            
            109Other
                interest income
            
            
            -
            
            
            6,461Rental
                income
            
            
            15,781
            
            
            -78,426
            
            
            84,818








**6.**
            **Interest
                expenses**





***Three
                months ended March 31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Unaudited)******$***
            
            ***$***Interest
                on bank trust receipts
            
            
            219,502
            
            
            179,554Interest
                on short-term bank loans
            
            
            9,583
            
            
            5,175Interest
                on bank overdrafts
            
            
            10,344
            
            
            15,827239,429
            
            
            200,556




13


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**7.**
            **Income
                taxes**





***Three
                months ended***
              ***March
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Unaudited)******$***
            
            ***$***Hong
                Kong profits taxCurrent
                period
            
            
            405,672
            
            
            297,150





The
      Company’s subsidiaries operating in Hong Kong are subject to profits tax of
      17.5% on the estimated assessable profits during the periods.





Deferred
      tax (assets) liabilities as of March 31, 2007 and December 31, 2006 are composed
      of the following:





***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$***Temporary
                difference on accelerated taxdepreciation on plant and
                equipment
            
            
            17,579
            
            
            17,669Deferred
                tax liabilities, net
            
            
            17,579
            
            
            17,669Recognized
                in the balance sheet:Net
                deferred tax assets
            
            
            (13,969
            )
            
            (14,042
            )Net
                deferred tax liabilities
            
            
            31,548
            
            
            31,71117,579
            
            
            17,669





**8.**
            **Comprehensive
                income**








***Three
                months ended***
              ***March
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Unaudited)******$***
            
            ***$***Net
                income
            
            
            1,795,210
            
            
            1,419,290Foreign
                currency translation adjustment
            
            
            (52,077
            )
            
            (4,067
            )Total
                comprehensive income
            
            
            1,743,133
            
            
            1,415,223





14


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**9.**
            **Earnings
                per share**





As
      per
      Note 19, the Company has placed 1,749,028 and 501,320 shares of Convertible
      preferred stock on January 23, 2007 and February 9, 2007 respectively. These
      2,250,348 shares of convertible preferred stock are issued at $1.29 and being
      eligible to be converted in the ratio of 1:1 into each share of common stock.
      The Earnings Per Share on a dilutive basis has been calculated with the
      assumption that all such convertible preferred stock have been fully converted
      into common stock, resulting in 25,406,977 shares of common stock being
      outstanding as if in the periods presented that form the basis for the number
      of
      common stock being outstanding on a dilutive earnings per share
      calculation.




**10.**
            **Prepaid
                expenses and other
                receivables**





***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$***Rebate
                receivable
            
            
            1,695,002
            
            
            -Interest
                receivable
            
            
            
            
            
            20,218Rental
                receivable
            
            
            -
            
            
            46,314Other
                receivable
            
            
            45,515
            
            
            -Purchase
                deposits paid
            
            
            3,306,826
            
            
            1,530,372Sales
                proceeds of intangible assets receivable
            
            
            299,501
            
            
            301,042Other
                deposits and prepayments
            
            
            328,707
            
            
            228,1875,675,551
            
            
            2,126,133








**11.**
            **Inventories**




***As
                  of******March
                  31,***
              
              ***December
                  31,******2007***
              
              ***2006******(Unaudited)***
              
              ***(Audited)******$***
              
              ***$***Merchandises,
                  at cost - completed watches
              
              
              762,191
              
              
              1,745,648Merchandises,
                  at cost - watch movements
              
              
              133,347
              
              
              4,874,713895,538
              
              
              6,620,361






15


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**12.**
            **Plant
                and equipment**





***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$****Cost*Buildings
            
            
            241,109
            
            
            242,350Furniture
                and fixtures
            
            
            490,406
            
            
            492,866Office
                equipment
            
            
            145,164
            
            
            145,911Machinery
                and equipment
            
            
            319,979
            
            
            321,626Moulds
            
            
            382,696
            
            
            384,665Motor
                vehicles
            
            
            45,693
            
            
            45,9281,625,047
            
            
            1,633,346*Accumulated
                depreciation*Buildings
            
            
            9,868
            
            
            8,441Furniture
                and fixtures
            
            
            260,501
            
            
            237,508Office
                equipment
            
            
            107,653
            
            
            100,612Machinery
                and equipment
            
            
            108,995
            
            
            93,475Moulds
            
            
            289,716
            
            
            276,936Motor
                vehicles
            
            
            27,825
            
            
            26,116804,558
            
            
            743,088*Net*Buildings
            
            
            231,241
            
            
            233,909Furniture
                and fixtures
            
            
            229,905
            
            
            255,358Office
                equipment
            
            
            37,511
            
            
            45,299Machinery
                and equipment
            
            
            210,984
            
            
            228,151Moulds
            
            
            92,980
            
            
            107,729Motor
                vehicles
            
            
            17,868
            
            
            19,812820,489
            
            
            890,258








Depreciation
      expenses included in administrative and other operating expenses for the three
      months ended March 31, 2007 and March 31, 2006 are $65,431 (unaudited) and
      $75,753 (unaudited) respectively.





As
      at
      March 31, 2007 and December 31, 2006, the carrying amount of buildings pledged
      as security for the Group’s banking facilities amounted to $231,241 (unaudited)
      and $233,909 (audited) respectively.





16


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)








**13.**
            **Leasehold
                lands**




***As
                  of******March
                  31,***
              
              ***December
                  31,******2007***
              
              ***2006******(Unaudited)***
              
              ***(Audited)******$***
              
              ***$****Cost*
              
              
              944,653
              
              
              949,514*Accumulated
                  amortization*
              
              
              36,834
              
              
              31,234*Net*
              
              
              907,819
              
              
              918,280Analyzed
                  for reporting purposes as:Current
                  asset
              
              
              17,079
              
              
              22,958Non-current
                  asset
              
              
              890,740
              
              
              895,322907,819
              
              
              918,280





Amortization
      expenses included in administrative and other operating expenses for the three
      months ended March 31, 2007 and March 31, 2006 are $5,774 (unaudited) and $2,023
      (unaudited) respectively.





As
      at
      March 31, 2007 and December 31, 2006, the carrying amount of leasehold lands
      pledged as security for the Group’s banking facilities amounted to $907,819
      (unaudited) and $919,280 (audited) respectively.








**14.**
            **Held-to-maturity
                investments**





***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$***Hang
                Seng Capital Guarantee Investment Fund-
                30,000 units at $10 each, interest rate at 10.5% in 3.75
                years*Cost*
            
            
            299,654
            
            
            301,196





As
      at
      March 31, 2007 and December 31, 2006, the carrying amount of held-to-maturity
      investments pledged as security for the Group’s banking facilities amounted to
      $299,654 (unaudited) and $301,196 (audited) respectively.




17


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**15.**
            **Intangible
                assets**





***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$****Cost*Trademarks
            
            
            199,667
            
            
            200,695Websites
            
            
            419,301
            
            
            421,459618,968
            
            
            622,154*Accumulated
                amortization*Trademarks
            
            
            121,797
            
            
            112,389Websites
            
            
            192,013
            
            
            171,929313,810
            
            
            284,318*Net*Trademarks
            
            
            77,870
            
            
            88,306Websites
            
            
            227,288
            
            
            249,530305,158
            
            
            337,836





Amortization
      expenses included in administrative and other operating expenses for the three
      months ended March 31, 2007 and March 31, 2006 are $ 31,023
      (unaudited) and
      $38,720 (unaudited) respectively.








**16.**
            **Other
                payables and accrued
                liabilities**





***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$***Accrued
                expenses
            
            
            130,496
            
            
            181,352Sales
                deposits received
            
            
            8,959
            
            
            9,006139,455
            
            
            190,358





18


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**17.**
            **Advance
                from related****parties**





Advance
      from related parties for working capital are as follows:





***As
                of******March
                31,***
            
            ***December
                31,******2007***
            
            ***2006******(Unaudited)***
            
            ***(Audited)******$***
            
            ***$***Advance
                from shareholders
            
            
            -
            
            
            33,000





The
      above
      advances are interest-free, unsecured and the have no fixed repayment
      terms.








**18.**
            **Bank
                borrowings**


***As
                  of******March
                  31,***
              
              ***December
                  31,******2007***
              
              ***2006******(Unaudited)***
              
              ***(Audited)******$***
              
              ***$***Secured:Bank
                  overdrafts repayable on demand
              
              
              480,280
              
              
              551,714Repayable
                  within one yearNon-recurring
                  bank loans
              
              
              1,141,262
              
              
              1,469,866Other
                  bank borrowings
              
              
              11,040,075
              
              
              11,183,58712,661,617
              
              
              13,205,167






As
      of
      March 31, 2007, the above banking borrowings were secured by the
      following:





(a)
            first
                fixed legal charge over leasehold land and buildings with carrying
                amounts
                of $1,139,060 (note 12 and 13);





(b)
            charge
                over bank deposits of $4,903,971;





(c)
            charge
                over held-to-maturity investments of $299,654 (note
                14);and





(d)
            personal
                guarantee executed by a director of the
                Company;





One
      of
      the subsidiaries, Billion Win International Enterprise Limited, should maintain
      a minimum net worth of $1,283,038.





19


ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)








**19.**
            **Common
                stock and convertible preferred
                stock**





***Common
                stock***
            
            ***Series
                A***
            
            ***Additional***
              ***paid
                in******No.
                of shares***
            
            ***Amount***
            
            ***No.
                of shares***
            
            ***Amount***
            
            ***capital******$***
            
            
            
            ***$***
            
            ***$***Balance,
                January 1, 2007
            
            
            23,156,629
            
            
            2,316
            
            
            -
            
            
            -
            
            
            656,095Issuance
                of Series A convertible preferred stock
            
            
            -
            
            
            -
            
            
            2,250,348
            
            
            225
            
            
            1,897,56823,156,629
            
            
            2,316
            
            
            2,250,348
            
            
            225
            
            
            2,553,663





The
      Company entered into two subscription agreements (the “Subscription Agreement”)
      with certain investors pursuant to which the Company sold an aggregate of
      2,250,348 shares of Series A Convertible Preferred Stock (“Series A Preferred
      Stock”) at $1.29 per share for an aggregate gross proceeds of $2,952,946





At
      the
      initial closing of the Subscription Agreement on January 23, 2007, the Company
      sold an aggregate of 1,749,028 shares of Series A Preferred Stock. At the second
      and final closing of the Subscription Agreement on February 9, 2007, the Company
      sold an aggregate of 501,320 shares of Series A Preferred Stock.





Each
      share of the Company’s Series A Preferred Stock is convertible into shares of
      common stock at a conversion price equal to the share purchase price, subject
      to
      adjustments.




**20.**
            **Pension
                plans**





The
      Group
      participates in a defined contribution pension scheme under the Mandatory
      Provident Fund Schemes Ordinance “MPF Scheme” for all its eligible employees in
      Hong Kong.





The
      MPF
      Scheme is available to all employees aged 18 to 64 with at least 60 days of
      service in the employment in Hong Kong. Contributions are made by the Group’s
      subsidiary operating in Hong Kong at 5% of the participants’ relevant income
      with a ceiling of HK$20,000. The participants are entitled to 100% of the
      Group’s contributions together with accrued returns irrespective of their length
      of service with the Group, but the benefits are required by law to be preserved
      until the retirement age of 65. The only obligation of the Group with respect
      to
      MPF Scheme is to make the required contributions under the plan.





The
      assets of the schemes are controlled by trustees and held separately from those
      of the Group. Total pension cost was $4,900 and $4,718 for the three months
      ended March 31, 2007 and 2006 respectively.




20




ASIA
      TIME
      CORPORATION


(Formerly
      SRKP 9, Inc.)





NOTES
      TO
      CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


(Stated
      in US Dollars)





**21.**
            **Segment
                Information**





For
      management purposes, the Group is currently organized into two major principal
      activities – trading
      of watch
      movements (components) and trading of completed watches. These principal
      activities are the basis on which the Group reports its primary segment
      information.





Watch
            
            CompletedThree
                months ended
              March
                31, 2007
            
            Movements
              (unaudited)
            
            Watches
              (unaudited)
            
            Total
              (unaudited)*$*
            
            *$*
            
            *$*Sales
            
            
            19,224,066
            
            
            1,894,076
            
            
            21,118,142Cost
                of sales
            
            
            (17,279,130
            )
            
            (976,853
            )
            
            (18,255,983
            )Segment
                result
            
            
            1,944,936
            
            
            917,223
            
            
            2,862,159Watch
            
            
            CompletedThree
                months ended
              March
                31, 2006
            
            
            Movements
              (unaudited)
            
            
            Watches
              (unaudited)
            
            
            Total
              (unaudited)*$*
            
            
            *$*
            
            
            *$*Sales
            
            
            18,184,751
            
            
            2,118,340
            
            
            20,303,091Cost
                of sales
            
            
            (16,965,800
            )
            
            (1,115,018
            )
            
            (18,080,818
            )Segment
                result
            
            
            1,218,951
            
            
            1,003,322
            
            
            2,222,273





The
      Group’s operations are primarily in Hong Kong and China and the Group’s sales,
      gross profit and total assets attributable to other geographical areas are
      less
      than **** 10%
      of
      the Group’s corresponding consolidated totals for the three months ended March
      31, 2007 and 2006. Consequently, no segment information by geographical areas
      is
      presented.




21


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





**Forward-Looking
      Statements**





*The
      following discussion should be read in conjunction with our consolidated
      financial statements and related notes included elsewhere in this quarterly
      report. This quarterly report contains forward-looking statements. The words
      “anticipated,” “believe,” “expect, “plan,” “intend,” “seek,” “estimate,”
“project,” “could,” “may,” and similar expressions are intended to identify
      forward-looking statements. These statements include, among others, information
      regarding future operations, future capital expenditures, and future net cash
      flow. Such statements reflect our management’s current views with respect to
      future events and financial performance and involve risks and uncertainties,
      including, without limitation, general economic and business conditions, changes
      in foreign, political, social, and economic conditions, regulatory initiatives
      and compliance with governmental regulations, the ability to achieve further
      market penetration and additional customers, and various other matters, many
      of
      which are beyond our control. Should one or more of these risks or uncertainties
      occur, or should underlying assumptions prove to be incorrect, actual results
      may vary materially and adversely from those anticipated, believed, estimated
      or
      otherwise indicated. Consequently, all of the forward-looking statements made
      in
      this quarterly report are qualified by these cautionary statements and there
      can
      be no assurance of the actual results or developments.*





**Overview**





We
      are a
      distributor of watch movements components used in the manufacture and assembly
      of watches to a wide variety of timepiece manufacturers. There are two
      categories of watch movements, quartz and mechanical. The main parts of an
      analog quartz watch movement are the battery; the oscillator, a piece of quartz
      that vibrates in response to the electric current; the integrated circuit,
      which
      divides the oscillations into seconds; the stepping motor, which drives the
      gear
      train; and the gear train itself, which makes the watch’s hands move. A digital
      watch movement has the same timing components as an analog quartz movement
      but
      has no stepping motor or gear train. To a lesser extent we also distribute
      complete analog-quartz and automatic watches with pricing between $20.00 to
      $50.00. Manufacturing for these watches is currently outsourced to third party
      factories in China.





Our
      core
      customer base consists primarily of large wholesalers, online retailers and
      small and medium-sized watch manufacturers that produce watches primarily for
      sale to customers in Hong Kong and China. To a lesser extent, we design watches
      for manufacturers and exporters of watches and manufacture and distribute
      complete watches primarily to online retailers and internet
      marketers.





We
      are
      mainly engaged in watch movement distribution business in Hong Kong and China
      which accounted for approximately 90% of our revenue for the year ended December
      31, 2006 and the three months ended March 31, 2007. We have distribution centers
      and strategically located sales offices throughout Hong Kong and the People’s
      Republic of China (“China” or “PRC”). We distribute more than 350 products from
      over 30 vendors, including such market leaders as Citizen Group, Seiko
      Corporation and ETA SA Manufacture Horlogere Suisse, to a base of over 300
      customers primarily through our direct sales force. To enhance our ability
      to
      distribute watch movements we provide a variety of value-added services,
      including automated inventory management services; integration, design and
      development, management, and extended and post-sale support
      services.





**Corporate
      Structure**





We
      were
      incorporated in the State of Delaware on January 3, 2006. We were originally
      organized as a “blank check” shell company to investigate and acquire a target
      company or business seeking the perceived advantages of being a publicly held
      corporation. On January 23, 2007, we closed a share exchange transaction
      pursuant to which we (i) issued 19,454,420 shares of our common stock to acquire
      100% equity ownership of Times Manufacture & E-Commerce Corporation Limited,
      a British Virgin Islands corporation (“Times Manufacture”), which has eight
      wholly-owned subsidiaries, (ii) assumed the operations of Times Manufacture
      and
      its subsidiaries, and (iii) changed our name from SRKP 9, Inc. to Asia Time
      Corporation. Times Manufacture also paid an aggregate of $350,000 to the
      stockholders of SRKP 9, Inc. Times Manufacture was founded in January 2002
      and
      is based in Hong Kong.





With
      respect to this discussion, the terms “we” and “our” refer to Asia Time
      Corporation, its 100%-owned subsidiary Times Manufacture Times Manufacture
      and
      its subsidiaries, Times Manufacturing & E-Commerce Corporation Ltd., TME
      Enterprise Ltd., Citibond Design Ltd. and Megamooch Online Ltd., each of which
      is a British Virgin Islands corporation, and the Hong Kong corporate
      subsidiaries Billion Win International Enterprise Ltd., Goldcome Industrial
      Ltd., Citibond Industrial Ltd., and Megamooch International Ltd. Times
      Manufacture was founded in March 2002 and is based in Hong Kong.





22


We
      have
      re-aligned the structure and business functions of our subsidiaries in 2005
      to
      clearly define the scopes our business objectives in order to strengthen our
      ability to conduct our business operations. Held indirectly through Times
      Manufacturing & E-Commerce Corp. Ltd., Billion Win International Enterprise
      Limited, or Billion Win, is our central sourcing component. Billion Win procures
      and imports watch movements and distributes them to suppliers, volume users
      in
      China, and two of our subsidiaries, Goldcome Industrial Limited, or Goldcome,
      and Citibond Industrial Limited, or Citibond. Goldcome mainly focuses it
      distributions to wholesalers and large manufacturers and Citibond focuses on
      distributions to small to medium size manufacturers. Megamooch International
      Limited is a complete watch distributor and exporter targeting overseas buyers.
      Another two subsidiaries are held indirectly under TME Enterprise Ltd. and
      Citibond Design Ltd. is responsible for complete watch design for manufacturers
      and exporters and handles large volume watch movement transactions between
      buyers and sellers solely on a commission basis. Megamooch Online Ltd. operates
      for complete watch marketing and distribution, with manufacturing being
      outsourced, and focusing on overseas markets.





**Watch
      Movement Segment**





Hong
      Kong
      does not have watch movement manufacturing. Watch movements are largely imported
      from Japan and Switzerland. The revenue for the watch movement segment of our
      business for the three months ended March 31, 2007 was $19.2 million, with
      a
      gross profit $2.00 million, a 5.7% and 59.5% increase respectively,
      compared to $18.2 million revenue and $1.2 million gross profit for the three
      months ended
      March 31, 2006. The gross profit margin increased to 10.1% for the three months
      ended March 31, 2007 from 6.7% for the same
      period in 2006,
      primarily due to more diversified products being promoted to customers and
      what
      our management believes to be an increase in market demand. We
      provide a wide product spectrum of products carrying all three major brands
      as
      well as middle-low end China movements. We believe this enables us to provide
      a
      convenient one-stop provider for our customers and getting higher sales per
      customer. We
      began
      to target small to medium manufacturers in mid-2005 and our customer base has
      expanded to more than 300 watch manufacturers. In addition, we have extended
      our
      credit period from an average to 15 days to 30 days to major customers that
      have
      maintained a history of timely settlement of receivables. We believe that this
      extension lead to an increase of purchase orders from those customers. We review
      the credit status of each customer and periodically adjust the credit period
      to
      specific customers in an attempt to maximize business with each customer without
      suffering significant credit risk.





**Complete
      Watch Segment**





Revenue
      of our complete watch segment was $1.9 million for the three months ended March
      31, 2007, a 10.6% decrease compared to the same period in 2006 in which revenue
      was $2.1 million. This segment contributed approximately 9.0% of our revenue
      for
      the three months ended March 31, 2007, as compared to 10.4% of revenue for
      the
      period ended March 31, 2006. Our main market positioning in China is on the
      middle-class adult, daily, sporty and classy design.





**Recent
      Events**




***Completion
      of the Share Exchange***




On
      December 15, 2006, we entered into a share exchange agreement with the sole
      shareholder of Times Manufacture. Pursuant to the share exchange agreement
      (the
      "Exchange Agreement") we agreed to issue shares of our common stock in exchange
      for all of the issued and outstanding securities of Times Manufacture (the
      "Share Exchange"). The Share Exchange closed on January 23, 2007.




Upon
      the
      closing of the Share Exchange and pursuant to the terms of the Exchange
      Agreement, we issued an aggregate of 19,454,420 shares of our common stock
      to
      the sole shareholder of Times Manufacture in exchange for all of the issued
      and
      outstanding securities of Times Manufacture. Times Manufacture also paid an
      aggregate of $350,000 to the stockholders of SRKP 9, Inc. In addition, prior
      to
      the closing of the Share Exchange and the Private Placement, as described below,
      we effectuated a 1.371188519-for-one stock dividend such that there were
      3,702,209 shares of common stock outstanding immediately prior to the Share
      Exchange and Private Placement. We issued no fractional shares in connection
      with the Share Exchange.




23


Pursuant
      to the terms of the Share Exchange, we agreed to register a total of 3,702,209
      shares of common stock held by our shareholders immediately prior to the Share
      Exchange. Of these shares held by our shareholders, 1,703,017 shares would
      be
      covered by the registration statement filed in connection with the Private
      Placement (described below) and 1,999,192 shares will be included in a
      subsequent registration statement filed by us no later August 24, 2007, which
      is
      six months and 10 days after the date on which we filed the registration
      statement to register the shares issued in the Private Placement.




***The
      Private Placement***




On
      January 23, 2007, concurrently with the close of the Share Exchange, we
      conducted an initial closing of a private placement transaction pursuant to
      which we sold an aggregate of 1,749,028 shares of Series A Convertible Preferred
      Stock at $1.29 per share. On February 9, 2007, we conducted a second and final
      closing of the private placement pursuant to which we sold 501,320 shares of
      Series A Convertible Preferred Stock at $1.29 per share. Accordingly, a total
      of
      2,250,348 shares of Series A Convertible Preferred Stock were sold in the
      private placement for an aggregate gross proceeds of $2,902,946 (the "Private
      Placement"). Of the gross proceeds, $50,000 is represented by a subscription
      receivable from one investor. WestPark Capital, Inc. ("WestPark") acted as
      the
      placement agent for the Private Placement. For its services as placement agent,
      WestPark received an aggregate fee of approximately $261,265, which consisted
      of
      a commission equal to 9.0% of the gross proceeds from the financing. After
      commissions and expenses, we received net proceeds of approximately $1.9 million
      in the Private Placement.




Pursuant
      to Subscription Agreements entered into with the investors in the Private
      Placement, each share of the Series A Convertible Preferred Stock is convertible
      into shares of common stock at a conversion price equal to the per share
      purchase price. However, if we, at any time prior to the first trading day
      on
      which our common stock is quoted on the American Stock Exchange, Nasdaq Capital
      Market, Nasdaq Global Market or New York Stock Exchange (each a "Trading
      Market") sell or issue any shares of common stock in one or a series of
      transactions at an effective price less than such conversion price where the
      aggregate gross proceeds to us are at least $1.0 million, then the
      aforementioned conversion price shall be reduced to such effective price. Each
      share of the Series A Convertible Preferred Stock shall automatically convert
      into shares of common stock if (i) the closing price of our common stock on
      the Trading Market for any 10 consecutive trading day period exceeds $3.00
      per
      share, (ii) the shares of common stock underlying the Series A Convertible
      Preferred Stock are subject to an effective registration statement, and
      (iii) the daily trading volume of the common stock on a Trading Market
      exceeds 25,000 shares per day for 10 out of 20 prior trading days. Upon
      liquidation, the holders of the Series A Convertible Preferred Stock shall
      receive $1.29 per share of the Series A Convertible Preferred Stock then held
      prior to any other distribution or payment made to holders of the common stock.




We
      agreed
      to and did file a registration statement covering the common stock underlying
      the Series A Convertible Preferred Stock sold in the Private Placement within
      30
      days of the closing of the Share Exchange pursuant to the subscription agreement
      with each investor. The investors in the Private Placement also entered into
      a
      lock up agreement pursuant to which they agreed not to sell their shares until
      our common stock begins to be traded on either the New York Stock Exchange,
      American Stock Exchange, NASDAQ Global Market or NASDAQ Capital Market after
      which the one-ninth of their shares will automatically be released from the
      lock
      up on a monthly basis.




Some
      of
      the controlling shareholders, control persons of WestPark were also, prior
      to
      the completion of the Share Exchange, shareholders and/or control persons of
      our
      company, including Richard Rappaport, who is the Chief Executive Officer of
      WestPark and was the President and a significant shareholder of our company
      prior to the Share Exchange, Anthony C. Pintsopoulos, who is the Chief Financial
      Officer of WestPark and an officer, director and significant shareholder of
      our
      company prior to the Share Exchange and Kevin DePrimio and Jason Stern, each
      employees of WestPark and shareholders of our company prior to the Share
      Exchange. Each of Messrs. Rappaport and Pintsopoulos resigned from all of their
      executive and director positions with our company upon the closing of the Share
      Exchange. Affiliates of WestPark who own shares of our common stock have agreed
      to a lock-up whereby they shall not sell an aggregate of 1,528,933 shares of
      common stock held by them until that date which is nine months from the day
      that
      our common stock begins to be traded on either the New York Stock Exchange,
      American Stock Exchange, NASDAQ Global Market, NASDAQ Capital Market, the OTC
      Bulletin Board or the Pink Sheets.




24


***Critical
      Accounting Policies and Estimates***





Financial
      Reporting Release No. 60 recommends that all companies include a discussion
      of
      critical accounting policies used in the preparation of their financial
      statements. The Securities and Exchange Commission (“SEC”) defines critical
      accounting policies as those that are, in management's view, most important
      to
      the portrayal of our financial condition and results of operations and those
      that require significant judgments and estimates.





The
      preparation of these consolidated financial statements requires our management
      to make estimates and assumptions that affect the reported amounts of assets,
      liabilities, revenues and expenses, as well as the disclosure of contingent
      assets and liabilities at the date of our financial statements. We base our
      estimates on historical experience, actuarial valuations and various other
      factors that we believe to be reasonable under the circumstances, the results
      of
      which form the basis for making judgments about the carrying value of assets
      and
      liabilities that are not readily apparent from other sources. Some of those
      judgments can be subjective and complex and, consequently, actual results may
      differ from these estimates under different assumptions or conditions. While
      for
      any given estimate or assumption made by our management there may be other
      estimates or assumptions that are reasonable, we believe that, given the current
      facts and circumstances, it is unlikely that applying any such other reasonable
      estimate or assumption would materially impact the financial statements. The
      accounting principles we utilized in preparing our consolidated financial
      statements conform in all material respects to generally accepted accounting
      principles in the United States of America.





*Accounting
      for the impairment of long-lived assets*





The
      long-lived assets held and used by us are reviewed for impairment whenever
      events or changes in circumstances indicate that the carrying amount of assets
      may not be recoverable. It is reasonably possible that these assets could become
      impaired as a result of technology or other industry changes. Determination
      of
      recoverability of assets to be held and used is by comparing the carrying amount
      of an asset to future net undiscounted cash flows to be generated by the
      assets.





If
      such
      assets are considered to be impaired, the impairment to be recognized is
      measured by the amount by which the carrying amount of the assets exceeds the
      fair value of the assets. Assets to be disposed of are reported at the lower
      of
      the carrying amount of fair value less costs to sell.





*Inventories*





Our
      inventories are stated at the lower of cost and net realizable value. Cost
      is
      determined using the first-in, first-out (FIFO) method. It excludes borrowing
      costs. Net realizable value is the estimated selling price in the ordinary
      course of business, less applicable variable selling expenses.





We
      evaluate our inventories for excess, obsolescence or other factors rendering
      inventories as unsellable at normal gross profit margins. Write-downs are
      recorded so that inventories reflect the approximate market value and take
      into
      account our contractual provisions with our suppliers governing price
      protections and stock rotations. Due to the large number of transactions and
      complexity of managing the process around price protections and stock rotations,
      estimates are made regarding the valuation of inventory at market
      value.





In
      addition, assumptions about future demand, market conditions and decisions
      to
      discontinue certain product lines can impact the decision to write-down
      inventories. If assumptions about future demand change and/or actual market
      conditions are different than those projected by management, additional
      write-downs of inventories may be required. In any case, actual results may
      be
      different than those estimated.





*Trade
      receivables*





Trade
      and
      other receivables are recognized initially at fair value and subsequently
      measured at amortized cost using the effective interest method, less provision
      for impairment. A provision for impairment of trade and other receivables is
      established when there is objective evidence that we will not be able to collect
      all amounts due according to the original terms of receivables. The amount
      of
      the provision is the difference between the asset’s carrying amount and the
      present value of estimated future cash flows, discounted at the effective
      interest rate. The amount of the provision is recognized in the income
      statement.





25


*Foreign
      currency translation*





Our
      consolidated financial statements are presented in United States dollars. Our
      functional currency is the Hong Kong Dollar (HKD). Our consolidated financial
      statements are translated into United States dollars from HKD at period-end
      exchange rates as to assets and liabilities and average exchange rates as to
      revenues and expenses. Capital accounts are translated at their historical
      exchange rates when the capital transactions occurred.





*Revenue
      recognition*





Sales
      of
      goods are recognized when a company has delivered goods to the customer, the
      customer has accepted the goods and collectibility of the related receivables
      is
      reasonably assured. Commission income is recognized in the accounting period
      in
      which the services are rendered, by reference to completion of the specific
      transaction assessed on the basis of the actual service provided as a proportion
      of the total services to be provided. Interest income is recognized on a
      time-proportion basis using the effective interest method. When a receivable
      is
      impaired, we reduce the carrying amount to our recoverable amount, being the
      estimated future cash flow discounted at original effective interest rate of
      the
      instrument, and continue unwinding the discount as interest income. Dividend
      income and insurance claims are recognized when the right to receive payment
      is
      established.





*Deferred
      income tax*





Deferred
      income tax is provided in full, using the liability method, on temporary
      differences arising between the tax bases of assets and liabilities and their
      carrying amounts in the consolidated financial statements. However, if the
      deferred income tax arises from initial recognition of an asset or liability
      in
      a transaction other than a business combination that at the time of the
      transaction affects neither accounting nor taxable profit or loss, it is not
      accounted for. Deferred income tax is determined using tax rates (and laws)
      that
      have been enacted or substantially enacted by the balance sheet date and are
      expected to apply when the related deferred income tax assets is realized or
      the
      deferred income tax liability is settled.





Deferred
      income tax assets are recognized to the extent that it is probable that future
      taxable profit will be available against which the temporary differences can
      be
      utilized.





*Income
      taxes*





We
      account for income tax using an asset and liability approach and allow for
      recognition of deferred tax benefits in future years. Under the asset and
      liability approach, deferred taxes are provided for the net tax effects of
      temporary differences between the carrying amounts of assets and liabilities
      for
      financial reporting purposes and the amounts used for income tax purposes.
      A
      valuation allowance is provided for deferred tax assets if it is more likely
      than not these items will either expire before we are able to realize its
      benefits, or that future realization is uncertain.





26


**Results
      of Operations**





The
      following table sets forth certain items in our statement of operations as
      a
      percentage of net sales for the periods shown:





Three
                Months Ended
              March
                31,2007
            
            2006Net
                sales
            
            
            100
            %
            
            100
            %Cost
                of sales
            
            
            86.45
            %
            
            89.05
            %Gross
                profit
            
            
            13.55
            %
            
            10.95
            %Depreciation
            
            
            0.30
            %
            
            0.37
            %Administrative
                and other operating expenses
            
            
            2.06
            %
            
            1.55
            %Income
                from operations
            
            
            11.18
            %
            
            9.02
            %Other
                Income
            
            
            0.37
            %
            
            0.42
            %Interest
                expense
            
            
            1.13
            %
            
            0.99
            %Income
                before taxes
            
            
            10.42
            %
            
            8.45
            %Income
                taxes
            
            
            1.92
            %
            
            1.46
            %Net
                income
            
            
            8.50
            %
            
            6.99
            %





***Comparison
      of the three months ended March 31, 2007 with the three months ended
      March 31, 2006***





Net
      sales
      for the three months end March 31, 2007 was $21.1 million as compared to
      $20.3 million for the same period in 2006, an increase of $0.8 million, or
      4.0%. This increase was due to the improved sales of watch movements, which
      was
      $19.2 million for the three months ended March 31, 2007, accounting for 91.0%
      of
      our total sales for the period, an increase of 5.7% as compared to
      $18.2 million of the same period in 2006. The increase was primarily
      attributed to the increase in sales in middle to high-end movements, which
      had a
      higher price and profit margin. However, the volume of movements decreased
      in
      this period, which slowed the sales growth. Movements had decreased from 25.9
      million pieces to 21.3 million pieces in the comparable periods in 2006 and
      2007
      respectively. Sales of completed watches for the three months ended March 31,
      2007, was $1.9 million as compared to $2.1 million for the same period in
      2006, a decrease of 10.6%. The decrease was due to the decrease in sales volume,
      largely in low-end items, from 0.28 million pieces to 0.21 million pieces in
      the
      comparable periods in 2007 and 2006 respectively.





Cost
      of
      sales for the three months ended March 31, 2007 was $18.3 million, or 86.5%
      of
      net sales, as compared to $18.1 million for the same period in 2006, or
      89.1% of net sales. The decrease in cost of sales as a percentage of net sales
      was largely attributable to the improved economies of scale.





Gross
      profit for the three months ended March 31, 2007 was $2.9 million, or 13.6%
      of net sales, compared to $2.2 million, or 11.0% of net sales for the same
      period in 2006. The increase in our gross profit margin was primarily attributed
      to the increase in sales of higher-margin products as a result of
      diversification of products and economies of scale. Gross profit margins are
      usually a factor of product mix and demand for product. The gross profit of
      watch movements as a percentage of net sales had jumped from 6.7% for the period
      ended March 31, 2006 as compared to 10.1% of net sales for same period in 2007.
      There was only a slight increase of gross profit for complete watch for the
      period end March 31, 2007 of 48.4% of net sales as compared to 47.3% of the
      same
      period in 2006 as the product mix had no significant change.





Administrative
      and other operating expenses were $0.43 million, or 2.1% of net sales for
      the three months ended March 31, 2007, as compared to $0.32 million, or
      1.6% of net sales for comparable period in 2006. The slight increase as a
      percentage of net sales was primarily attributable to more
      new
      recruits and upgraded staff benefits. This stabilized the senior management
      teams for serving the company. Management considers these expenses as a
      percentage of net sales to be a key performance indicator in managing our
      business.





Interest
      expense for the three months ended March 31, 2007 was $0.24 million, or 1.1%
      of
      net sales, as compared to $0.2 million for the same period in 2006, or 1.0%
      of net sales. This increase was primarily attributable to the increase in bank
      interest rates in the three months ended March 31, 2006 and the comparable
      period in 2007. Further increases in borrowing rates would further increase
      our
      interest expense, which would have a negative effect on our results of
      operations.





27


Net
      income for the three months ended March 31, 2007 was $1.8 million, or 8.5%
      of
      net sales, as compared to $1.4 million, or 7.0% of the net sales for the
      comparable period in 2006.





**Liquidity
      and Capital Resources**





To
      provide liquidity and flexibility in funding our operations, we borrow amounts
      under bank facilities and other external sources of financing. As of March
      31,
      2007 we had general banking facilities amounted to $12.7 million for overdraft,
      letter of credit, trust receipt, invoice financing and export loans granted
      by
      nine banks. The amount decreased by $1.1 million compared to $13.8 million
      as at
      March 31, 2006. Interest on the facilities ranged from minus 2.0 to 0.75% over
      the Bank’s Best Lending Rate of Hong Kong (Prime Rate) or Hong Kong Inter Bank
      Offered Rate (HIBOR). These banking facilities were secured by the leasehold
      properties, time deposits and held-to maturity investments of the group and
      personal guarantees executed by our Chairman of the Board.





On
      January 23, 2007, concurrently with the close of the Share Exchange, we
      conducted an initial closing of a private placement transaction pursuant to
      which we sold an aggregate of 1,749,028 shares of Series A Convertible Preferred
      Stock at $1.29 per share. On February 9, 2007, we conducted a second and final
      closing of the private placement pursuant to which we sold 501,320 shares of
      Series A Convertible Preferred Stock at $1.29 per share. Accordingly, a total
      of
      2,250,348 shares of Series A Convertible Preferred Stock were sold in the
      private placement for an aggregate gross proceeds of $2,902,946 (the “Private
      Placement”). Of the gross proceeds, $50,000 is represented by a subscription
      receivable from one investor. WestPark Capital, Inc. (“WestPark”) acted as the
      placement agent for the Private Placement. For its services as placement agent,
      WestPark received an aggregate fee of approximately $261,265, which consisted
      of
      a commission equal to 9.0% of the gross proceeds from the financing. After
      commissions and expenses, we received net proceeds of approximately $1.9 million
      in the Private Placement.





Pursuant
      to Subscription Agreements entered into with the investors in the Private
      Placement, each share of the Series A Convertible Preferred Stock is convertible
      into shares of common stock at a conversion price equal to the per share
      purchase price. However, if we, at any time prior to the first trading day
      on
      which our common stock is quoted on the American Stock Exchange, Nasdaq Capital
      Market, Nasdaq Global Market or New York Stock Exchange (each a “Trading
      Market”) sell or issue any shares of common stock in one or a series of
      transactions at an effective price less than such conversion price where the
      aggregate gross proceeds to us are at least $1.0 million, then the
      aforementioned conversion price shall be reduced to such effective price. Each
      share of the Series A Convertible Preferred Stock shall automatically convert
      into shares of common stock if (i) the closing price of our common stock on
      the Trading Market for any 10 consecutive trading day period exceeds $3.00
      per
      share, (ii) the shares of common stock underlying the Series A Convertible
      Preferred Stock are subject to an effective registration statement, and
      (iii) the daily trading volume of the common stock on a Trading Market
      exceeds 25,000 shares per day for 10 out of 20 prior trading days. Upon
      liquidation, the holders of the Series A Convertible Preferred Stock shall
      receive $1.29 per share of the Series A Convertible Preferred Stock then held
      prior to any other distribution or payment made to holders of the common stock.





We
      agreed
      to file a registration statement covering the common stock underlying the Series
      A Convertible Preferred Stock sold in the Private Placement within 30 days
      of
      the closing of the Share Exchange pursuant to the subscription agreement with
      each investor.





For
      the
      three months ended March 31, 2007, net cash used by operating activities was
      approximately $1.4 million, as compared to net cash used in operating activities
      of $2.3 million for the comparable period in 2006. The decrease in net cash
      used
      by operating activities is primarily attributable to increase in net income,
      a
      decrease in advance form related parties and no more unearned income. The net
      cash used by operating activities in
      the
      three months ended March 31, 2007 is also attributable to increase in
      purchase deposits paid by
      3.6
      million comparable to the year ended December 31, 2006. The purpose of purchase
      deposits was to keep cost of goods sold at lower market prices to avoid buying
      price increases in hot seasons.





Net
      cash
      provided by financing activities was $1.3 million for the three months ended
      March 31, 2007 and $2.0 million for the comparable period in 2006. The
      decrease in net cash provided by financing activities for the three months
      ended
      March 31, 2007 was attributable to the increase in issuance of equity securities
      of $1.9 million and no increase in net advancement of other bank borrowings.





In
      the
      three months ended March 31 2007 and the same period in 2006 our inventory
      turnover was 19 and 13.6 times, respectively. The average days outstanding
      of
      our accounts receivable at March 31, 2007 were 56 days, as compared to 32 days
      at March 31, 2006. Inventory turnover and average days outstanding are key
      operating measures that management relies on to monitor our business.





28


We
      currently have no solid plans for significant capital expenditure in the next
      12
      months. Based on our current plans, we believe that cash on hand, cash flow
      from
      operations and funds available under our bank facilities will be sufficient
      to
      fund our capital needs for the next 12 months. However, our ability to maintain
      sufficient liquidity depends partially on our ability to achieve anticipated
      levels of revenue, while continuing to control costs. If we did not have
      sufficient available cash, we would have to seek additional debt or equity
      financing through other external sources, which may not be available on
      acceptable terms, or at all. Failure to maintain financing arrangements on
      acceptable terms would have a material adverse effect on our business, results
      of operations and financial condition.





**Off-Balance
      Sheet Arrangements**





None.





**ITEM
      3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET
      RISK**





*Credit
      Risk.* **** We
      are
      exposed to credit risk from our cash at bank, fixed deposits and contract
      receivables. The credit risk on cash at bank and fixed deposits is limited
      because the counterparts are recognized financial institutions. Contract
      receivables are subject to credit evaluations. As we are getting more new
      customers and offering credit terms, financial efficiency, we believe that
      cash
      flow and controlling bad debt and late payment become more and more important.
      We carry out thorough research through public filing records available on our
      new customers, coupled with the employment of business intelligence information
      provider, before extending any credit to new customers. Different levels of
      credit periods and credit limits are granted to different customers according
      to
      their size, financial position, business position and payment history, among
      other factors, in order to offer the right credit terms to our customers to
      enhance competitiveness yet manage the risk. We have not recorded bad debt
      since
      inception.





*Foreign
      Currency Risk.* **** The
      functional currency of our company is the Hong Kong Dollar (HKD). In the future,
      we expect Renminbi (RMB) also to be a functional currency. Substantially all
      of
      our operations are conducted in the PRC. Our sales and purchases are conducted
      within the PRC in HKD and in the future will include RMB. Conversion of RMB
      into
      foreign currencies is regulated by the People’s Bank of China through a unified
      floating exchange rate system. Although the PRC government has stated its
      intention to support the value of the RMB, there can be no assurance that such
      exchange rate will not again become volatile or that the RMB will not devalue
      significantly against the U.S. Dollar. Exchange rate fluctuations may adversely
      affect the value, in U.S. Dollar terms, of our net assets and income derived
      from its operations in the PRC. In addition, the RMB is not freely convertible
      into foreign currency and all foreign exchange transactions must take place
      through authorized institutions.




*Country
      Risk.* **** The
      substantial portion of our business, assets and operations are located and
      conducted in Hong Kong and China. While these economies have experienced
      significant growth in the past twenty years, growth has been uneven, both
      geographically and among various sectors of the economy. The Chinese government
      has implemented various measures to encourage economic growth and guide the
      allocation of resources. Some of these measures benefit the overall economy
      of
      Hong Kong and China, but may also have a negative effect on us. For example,
      our
      operating results and financial condition may be adversely affected by
      government control over capital investments or changes in tax regulations
      applicable to us. If there are any changes in any policies by the Chinese
      government and our business is negatively affected as a result, then our
      financial results, including our ability to generate revenues and profits,
      will
      also be negatively affected.





**ITEM
      4.  CONTROLS AND PROCEDURES**





*(a)
      Evaluation of disclosure controls and procedures*




As
      of
      March 31, 2007, our management, with the participation of our Chief Executive
      Officer, or “CEO,” and Chief Financial Officer, or “CFO,” performed an
      evaluation of the effectiveness and the operation of our disclosure controls
      and
      procedures as defined in Rules 13a-15(e) or 15d-15(e) under the Securities
      Exchange Act of 1934, as amended, or the “Exchange Act.” Based on that
      evaluation, the CEO and CFO concluded that our disclosure controls and
      procedures were effective as of March 31, 2007.




29


*(b)
      Changes in internal control over financial reporting*




Upon
      the
      closing of the Share Exchange on January 23, 2007, the internal control over
      financial reporting utilized by Times Manufacture prior to the Share Exchange
      became the internal control over financial reporting of our company. Upon
      closing of the Share Exchange, we (i) became the 100% parent of Times
      Manufacture and its eight wholly-owned subsidiaries, (ii) assumed the operations
      of Times Manufacture and its subsidiaries, and (iii) changed our name from
      SRKP
      9, Inc. to Asia Time Corporation. Following the Share Exchange the sole business
      conducted by our company became the business conducted by Times Manufacture,
      and
      the officers and directors of Times Manufacture became the officers and
      directors of our company. We believe these changes will materially affect,
      or
      are reasonably likely to materially affect, our internal controls over financial
      reporting. Based on the evaluation of our management as required by paragraph
      (d) of Rule 13a-15 or 15d-15 of the Exchange Act, we believe that, other then
      the changes described above, there were no changes in our internal control
      over
      financial reporting that occurred during our last fiscal quarter that have
      materially affected, or are reasonably likely to materially affect, our internal
      control over financial reporting.








**PART
      II-OTHER INFORMATION**





**ITEM
      1.**  **LEGAL
      PROCEEDINGS**





We
      are
      not currently a party to any material legal proceedings.





**ITEM
      1A. RISK FACTORS**





There
      have been no material changes from the risk factors disclosed in the “Risk
      Factors” section of our annual report on Form 10-K for the year ended December
      31, 2006.





**ITEM
      2.**  **UNREGISTERED
      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**





None.





**ITEM
      3.**  **DEFAULTS
      UPON SENIOR SECURITIES**


None.





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





None.





**ITEM
      5.**  **OTHER
      INFORMATION**





None.





**ITEM
      6.**  **EXHIBITS**




(a)
      Exhibits





31.1
            Certification
                of Principal Executive Officer and Principal Financial and Accounting
                Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act of
                200232.1
            Certification
                of Principal Executive Officer and Principal Financial and Accounting
                Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.*





*
      This
      exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities
      Exchange Act of 1934 or otherwise subject to the liabilities of that section,
      nor shall it be deemed incorporated by reference in any filing under the
      Securities Act of 1933 or the Securities Exchange Act of 1934, whether made
      before or after the date hereof and irrespective of any general incorporation
      language in any filings.





30





**SIGNATURES**





In
      accordance with the requirements of the Exchange Act, the registrant has duly
      caused this report to be signed on its behalf by the undersigned, thereunto
      duly
      authorized.





**ASIA
                TIME CORPORATION**
              (Registrant)May
                21, 2007
            By:
            /s/ Kwong
                Kai ShunKwong
                Kai ShunChief
                Executive Officer, Chief Financial Officer and Chairman of the
                Board




31