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| | Business Summary: Blue Sphere Corp., a development stage company, engages in the business of greenhouse gas emission reduction, and plans to generate revenue from emission reduction through sales of carbon credits, energy generation, project development and sale of byproducts. | | | Address
35 Asuta St., P.O.B. 857
Even Yehuda 40500
Phone: 972-9-8917438
Website: http://www.bluespherecorporate.com
| | Auditor |
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Maddox Ungar Silberstein, PLLC
| | Transfer Agent |
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Nevada Agency and Transfer Company
| | ShareHolders: 38 | Founded: 2007
Domicile: Nevada | | | |
| | Blue Sphere Corp., in the development stage as of Mar. 31, 2010, engages in the business of greenhouse gas (GHG) emission reduction, and plans to generate revenue from emission reduction through sales of carbon credits, energy generation, project development and sale of byproducts.
The company seeks to capitalize on the growing and expanding carbon credit market. Blue Sphere offers potential partners (including owners of landfills, coal mines, fertilizer factories, etc.) what it calls a kind of turnkey operation in dealing with emission reduction. The company plans to operate primarily in countries from the former Soviet Union, China and the U.S. where Blue Sphere has identified specific opportunities. The company's focus has been initially on four projects and raising the funds necessary for the development of the four projects up to the stage where valuable and tradable assets are in possession. Development of other projects and marketing activities for the obtainment of new projects are intended to be carried out in parallel. The four projects include two landfills in Ukraine; a fertilizer manufacturing plant in Uzbekistan; and a fertilizer manufacturing plant in Kazakhstan.
The company's aim is to manage the entire process of obtaining carbon credits, constructing the projects and managing them for its partners, while involving them in all key decisions. In becoming a fully integrated company in the carbon credit market, Blue Sphere will be responsible for the following activities: obtaining projects, including locating, evaluating, negotiating and executing contracts; executing the process of project registration in the country where the project is located and with the U.N., using outsourcing services from recognized companies in the field; implementing projects by outsourcing the most applicable technology of the current technologies available; and monitoring and supervising projects.
On Apr. 28, 2010, the company commenced implementing its plan to enter the agricultural methane reduction business in the U.S. through its new subsidiary, Blue Sphere U.S.A. Inc. | | History: INCORPORATED in Nevada July 17, 2007, as Jin Jie Corp.; name changed to Blue Sphere Corp. Feb. 17, 2010. | | | | Subsidiaries: |
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Blue Sphere U.S.A. Inc.
Eastern Sphere, Ltd.
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Management
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| Officers | Position |
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| Eliezer Weinberg | Chairman | | Shlomo Palas | President, Secretary & Chief Executive Officer | | Alex Werber | Treasurer & Chief Financial Officer | | Shmuel Keshet | Chief Operating Officer |
| | Directors |
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| Shlomo Palas | | Eliezer Weinberg | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 1,750,000,000 | 67,500,000 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
12/29/2009,
38.
| | PRINCIPAL STOCKHOLDERS: March 3, 2010, Amir Rachmani owned or controlled 46.6% of the Common. | | | |
Transfer Agent: Nevada Agency and Transfer Company
Reno
, NV | | | | OTC Bulletin Board( Primary): BLSP | | | |
| | | | DIVIDENDS: Common $0.001 par: No cash.
Common split 35-for-1, ex-Feb. 18, 2010. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| OPERATING EXPENSES: |
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| | Accounting and legal | 11 | 19 | | General & Administrative | 1 | 1 | | Fees & other oper. exps. | 6 | 12 | | Net income | (18) | (32) | | Share earns. basic | ($0.01) | ($0.02) | | Share earns. diluted | ($0.01) | ($0.02) | | Avge. com. shs. (Thou.) | 1,840 | 1,840 |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| Assets: |
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| | Cash & equiv. | 12 | 23 | | Prepaid expenses | 1 | 4 | | Tot. curr. assets | 13 | 27 | | Total assets | 13 | 27 | | Liabilities: |
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| | Accts. pay. & accruals | 7 | 3 | | Due to stockholder | 1 | 1 | | Tot. curr. liabs. | 8 | 4 | | Stockholders' Equity |
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| | Com. stk. p.$0.001 | 2 | 2 | | Paid-in cap. | 67 | 67 | | Retained earns. | (64) | (46) | | Total liabs. | 13 | 27 | | Common Shares (Thou.) | 1,900 | 1,900 |
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| | Interim Report
10/01/2009 - 03/31/2009 |
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| | | Income Statement | |
| 2010 |
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| OPERATING EXPENSES: |
| | General and administrative expenses | 925 | | Financial expenses (income), net | 1 | | Net income | (926) | | Share earns. basic | ($0.01) | | Share earns. diluted | ($0.01) | | Avge. com. shs. | 66,654 |
| | | | Balance Sheet | |
| 2010 |
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| Assets: |
| | Cash & equiv. | 438 | | Other curr. assets | 4 | | Tot. curr. assets | 442 | | Total assets | 442 | | Liabilities: |
| | Accts. pay. | 39 | | Other payables | 47 | | Tot. curr. liabs. | 86 | | Stockholders Deficit |
| | Com. stk. p.$0.001 | 68 | | Paid-in cap. | 1,278 | | Retained earns. | (990) | | Total liabs. | 442 | | Common Shares (Thou.) | 67,500 |
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| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue |
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| | | Data Not Available | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
2 | Nil | | 2009 |
Full Year
| (20,000) | | 2008 |
Full Year
| (30,000) | | 2007 |
Full Year
| (80,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | Nil | | 2010 |
2 | (.01) | | 2009 |
1 | Nil | | 2009 |
2 | Nil | | 2009 |
3 | Nil | | 2009 |
4 | Nil | | 2009 |
Full Year
| Nil | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2008 |
4 | Nil | | 2008 |
Full Year
| Nil | | 2007 |
Full Year
| Nil |
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