| Address:
|
C/O SURFMAX CORPORATION
221 BOSTON POST ROAD, SUITE 410 |
| City: |
MARLBOROUGH |
|
State: |
MA |
|
Zip Code: |
01752 |
| Telephone: |
508-624-4948 |
|
Description of Business
|
Primary SIC Code:
6770 |
| (As filed with the SEC)
|
|
|
We are a public acquisition company, formed on August 21, 2006, to complete a
business combination with an operating business that either: (1) is located in
China, (2) has its principal operations located in China, or, (3) in the view of
the Board of Directors of the Company, would benefit from establishing
operations in China. Our efforts to identify a prospective target business will
not be limited to a particular industry. We intend to effect a business
combination using cash from the proceeds of our recently completed initial
public offering and the private placements of the sponsors' warrants, our
capital stock, debt or a combination of cash, stock and debt. On November 15,
2007, we completed our initial public offering of 8,625,000 Units (including
1,125,000 Units pursuant to the underwriters' over-allotment option sold on
November 26, 2007) at a price of $8 per unit. We received net proceeds of
approximately $68. ... More ... |
| Date |
12-mos
Rolling EPS |
Dividend |
P/E
Ratio |
| 03/2009 | -0.06 | NA | N/E | | 12/2008 | -0.03 | NA | N/E | | 09/2008 | 0.02 | NA | 362.00 | | 06/2008 | 0.02 | NA | 371.50 | | 03/2008 | 0.02 | NA | 361.50 | | 12/2007 | 0.00 | NA | N/E |
Key Financial Ratios and Statistics |
FYE:
12/31 |
| Profitability |
2008 |
Leverage |
2008 |
| Net Inc/Comm Equity | -0.01 | Total Liab/Total Assets | 0.35 | | Net Inc/Total Assets | 0.00 | Total Liab/Inv Cap | 0.37 | | Net Inc/Inv Cap | 0.00 | Total Liab/Comm Equity | 0.54 | | Pretax Inc/Net Sales | -0.27 | Interest Coverage Ratio | NA | | Net Inc/Net Sales | -0.28 | Curr Debt/Equity | NA | | Cash Flow/Net Sales | 0.10 | LTD/Equity | NA | | SG&A/NetSales | 1.27 | Total Debt/Equity | NA |
| Asset Utilization
|
|
Liquidity |
|
| Net Receivables Turnover | 617.33 | Quick Ratio | 19.37 | | Inventory Turnover | NA | Current Ratio | 19.37 | | Inventory Day Sales | NA | Net Rec/Curr Assets | 0.00 | | Net Sales/Work Cap | 0.02 | Inv/Curr Assets | NA | | Net Sales/PP&E | NA | | |
Income Statement (Millions) |
| |
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Total Revenues(Net Sales)
|
0.00
|
0.02
|
0.30
|
0.23
|
|
Cost of Goods Sold
|
NA
|
NA
|
NA
|
NA
|
|
Selling & Admin Exps
|
0.22
|
0.51
|
0.27
|
0.26
|
|
Operating Income
|
-0.22
|
-0.49
|
0.03
|
-0.02
|
|
Interest Exp
|
NA
|
NA
|
NA
|
NA
|
|
Pretax Income
|
-0.22
|
-0.49
|
0.03
|
-0.02
|
|
Other Income
|
NA
|
NA
|
NA
|
NA
|
|
Net Income Bef Extraordinary ...
|
NA
|
NA
|
NA
|
NA
|
|
Net Income
|
-0.22
|
-0.41
|
0.01
|
-0.01
|
|
Assets
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Cash & Short Term Investments
|
68.59
|
68.58
|
68.58
|
68.49
|
|
Receivables - Total
|
0.00
|
0.00
|
0.06
|
NA
|
|
Inventories - Total
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Assets
|
68.60
|
68.60
|
68.87
|
68.50
|
|
Net Property, Plant & Equipment
|
NA
|
NA
|
NA
|
NA
|
|
Total Assets
|
68.60
|
68.60
|
68.87
|
68.50
|
|
Liabilities
|
|
|
|
|
|
Accounts Payable
|
1.35
|
1.13
|
0.99
|
0.64
|
|
Debt in Current Liabilities
|
NA
|
NA
|
NA
|
NA
|
|
Total Current Liabilities
|
3.77
|
3.54
|
0.99
|
0.64
|
|
Long-Term Debt
|
NA
|
NA
|
NA
|
NA
|
|
Total Liabilities
|
23.53
|
24.03
|
23.89
|
23.54
|
|
Stockholder's Equity
|
|
|
|
|
|
Minority Interest
|
NA
|
NA
|
NA
|
NA
|
|
Preferred Stock
|
NA
|
NA
|
NA
|
NA
|
|
Common Stock
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Retained Earnings
|
-0.49
|
-0.27
|
0.14
|
0.12
|
|
Treasury Stock
|
NA
|
NA
|
NA
|
NA
|
|
Total Stockholders' Equity
|
45.07
|
44.57
|
44.98
|
44.96
|
|
Total Liabilities and Stockholders' Equity
|
68.60
|
68.60
|
68.87
|
68.50
|
Cash Flow Summary (Millions) |
|
Categories
|
3/31/2009
|
12/31/2008
|
9/30/2008
|
6/30/2008
|
|
Net Cash Provided by Operating Activities
|
-0.19
|
-0.15
|
-0.06
|
0.04
|
|
Net Cash Provided by Investing Activities
|
0.00
|
0.01
|
-0.09
|
-0.19
|
|
Net Cash Provided by Financing Activities
|
0.20
|
0.15
|
0.15
|
-0.02
|
Annual Summary Data (Millions) |
| Year |
Sales |
Net
Income |
EPS |
| 12/2007 | 0.09 | 0.01 | 0.00 | | 12/2008 | 1.00 | -0.28 | -0.03 | | Growth Rates | 986.69 | -- | -- |
| Type |
Date(Q,M) |
No.
Owners |
Shares
Held (000s) |
%
Own |
| Institutional | 03/31/09 | 25 | 5,001 | 47.64 |
|
Report Date :
6/23/2009
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