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| | Business Summary: China Executive Education Corp., operating through a subsidiary, is an executive education company offering professional training programs in Hangzhou and Shanghai, China. Through open-enrollment training programs, the company provides Chinese business executives with business training. | | | Address
Room 307, Hualong Business Building
110 Moganshan Road
Hangzhou 310005
Phone: 86-0571-8880-8109
| | Auditor |
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Stan J.H. Lee, CPA
| | Transfer Agent |
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West Coast Stock Transfer Corp.
| Employees: 274
ShareHolders: 30 | Founded: 2008
Domicile: Nevada | | | |
| | China Executive Education Corp., operating through its subsidiary, Hangzhou MYL Business Administration Consulting Co., Ltd., is an executive education company offering professional training programs in Hangzhou and Shanghai, China. Through open-enrollment training programs, including proprietary training courses and featured lectures, the company provides Chinese business executives with business training such as sales, marketing, leadership development and personal skill development focused on decision-making skills, negotiation skills, public speaking skills and people skills. The training courses include a 7-course package for CEOs, as well as 22 other business development courses.
China Executive Education reported in late May 2010 that the company, since formally launching in April 2009, has provided its training programs to 2,874 Chinese business owners and executives from a range of industries.
The company's executive training programs are designed to fit the needs of Chinese entrepreneurs, and to improve their leadership skill, management skills and marketing skills, as well as bottom-line results. Its comprehensive business training initiatives integrate research-based, proprietary content with processes that are specifically and explicitly connected to the critical business issues that most private Chinese companies are facing. The company believes that this approach allows the trainees to better achieve their potentials and better aligns individual goals and competencies with organizational objectives of their employers or business. China Executive Education has developed a number of training courses, including a core course named Seven Essential Classes for Business Executives.
The company derives its sales revenue from selling its proprietary training courses. It also generates sales revenue from its Featured Lectures events which are organized by the company periodically with the presence of world masters or well-known keynote speakers.
China Executive Education sells its training programs through its own sales team. It also promotes its services through the Internet.
The company is headquartered in Hangzhou, People's Republic of China. | | History: INCORPORATED in Nevada May 9, 2008, as On Demand Heavy Duty Corp. On Feb. 12, 2010, the company acquired all of the outstanding capital stock of Surmounting Limit Marketing Adviser Limited, a Hong Kong corporation, through China Executive Education Corp., a Nevada corporation (Merger Sub) wholly owned by the company. In connection with the acquisition, 21,560,000 Common shares of the company were issued to Surmounting stockholders. Merger Sub was then merged into the company, which adopted Merger Sub's name, China Executive Education Corp. As part of the merger, the company transferred all of the outstanding capital of its subsidiary, On Demand Heavy Duty Holdings, Inc., to certain of its stockholders in exchange for the cancellation of 3,000,000 Common shares of the company.
Surmounting Limit Marketing Adviser Limited was incorporated in Hong Kong Oct. 17, 2007. | | | | Subsidiaries: |
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Hangzhou MYL Business Administration Consulting Co., Ltd.
Shanghai MYL Business Administration Consulting Co., Ltd.
Surmounting Limit Marketing Adviser Limited
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Management
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| Officers | Position |
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| Kaien Liang | Chairman & Chief Executive Officer | | Pokai Hsu | Chief Operating Officer | | Zhiwei Huang | Chief Financial Officer | | Dave Gentry | Investor Relations Contact |
| | Directors |
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| Kaien Liang | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 70,000,000 | 22,050,000 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
12/31/2009,
30.
| | PRINCIPAL STOCKHOLDERS: February 12, 2010, Kaien Liang owned or controlled 80% of the Common. | | | |
Transfer Agent: West Coast Stock Transfer Corp.
San Diego
, CA | | | | OTC Bulletin Board( Primary): CECX | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2010 | 0.0000 | 0.0000 |
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| | | | DIVIDENDS: Common $0.001 par: None. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2009 |
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| EXPENSES: |
| | General and Administrative | 18 | | Oper. income as calculated | (18) | | Net income | (18) | | Share earns. basic | Nil | | Share earns. diluted | Nil | | Avge. com. shs. (Thou.) | 6,510 |
| | | | Balance Sheet | |
| 2009 |
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| Assets: |
| | Cash & equiv. | 4 | | Tot. curr. assets | 4 | | Total assets | 4 | | Liabilities: |
| | Tot. curr. liabs. | - | | Loan from Director | 1 | | Stockholders Equity (deficit) |
| | Com. stk. p.$0.001 | 6 | | Paid-in cap. | 15 | | Retained earns. | (18) | | Total stockholders equity (deficit) | 3 | | Total liabs. | 4 | | Common Shares (Thou.) | 6,510 |
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* On February 12, 2010, China Executive Education Corp (The company), formerly known as On Demand Heavy Duty, Corp., acquired all of the outstanding capital stock of Surmounting Limit Marketing Adviser Limited (''SLM''). Upon completion of the Merger, the shareholders of SLM own approximately 98% of the common stock of the company. The merger transaction has been accounted for as a reverse merger under the purchase method of accounting, with SLM treated as the continuing entity for accounting purposes. As a result of the merger, the name of the company was changed from On Demand Heavy Duty, Corp. to China Executive Education Corp.
Above financials represent the operations and accounts of China Executive Education Corp. (formerly known as On Demand Heavy Duty, Corp.).
The following financial statements are those of Surmounting Limit Marketing Adviser Limited. | | | |
| | Interim Report
01/01/2010 - 03/31/2010 |
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| | | Income Statement | |
| 2010 |
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| Revenues | 4,446 | | Cost of revenue | 1,515 | | Operating expenses | 1,882 | | Oper. income as calculated | 1,049 | | Income tax | 296 | | Net income | 753 | | Less: Net income attributable to non-controlling interest | (17) | | Net income attributable to the Company | 770 | | Share earns. basic | $0.03 | | Share earns. diluted | $0.03 | | Avge. com. shs. (Thou.) | 21,795 |
| | | | Balance Sheet | |
| 2010 |
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| Assets: |
| | Cash & equiv. | 3,785 | | Advances to vendors | 986 | | Accts. rec., net | 29 | | Other receivables | 2,749 | | Tot. curr assets | 7,549 | | Net property | 79 | | Other assets | 92 | | Total assets | 7,720 | | Liabilities: |
| | Advance from customers | 2,841 | | Taxes payable | 443 | | Other payables and accrued liabilities | 93 | | Tot. curr. liabs. | 3,377 | | Non-controlling interest | (112) | | STOCKHOLDERS' EQUITY: |
| | Com. stk. p.$0.001 | 22 | | Paid-in cap. | 171 | | Statutory reserve | 358 | | Accumulated other comprehensive income | 3 | | Retained earns. | 3,901 | | Total stockholders' equity | 4,455 | | Total liabs. | 7,720 | | Common Shares (Thou.) | 22,050 |
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| | Pro Forma Report
01/01/2009 - 12/31/2009 |
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| | | Income Statement | |
| 2009 |
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| NET REVENUE | 8,674 | | COST OF REVENUES | 2,862 | | Selling, gen. & admin. exps. | 975 | | Oper. income as calculated | 4,837 | | Interest income | 2 | | Total income | 4,839 | | Other expenses | 156 | | Income tax | 1,193 | | Net income | 3,490 | | Less: income attributable to noncontrolling interests | 183 | | Net income attributable to the company | 3,307 | | Share earns. basic | $0.15 | | Share earns. diluted | $0.15 | | Avge. com. shs. (Thou.) | 22,000 |
| | | | Balance Sheet | |
| 2009 |
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| Assets: |
| | Cash & equiv. | 6,382 | | Accts. rec., net | 33 | | Prepayments | 731 | | Other curr. assets | 1,009 | | Tot. curr. assets | 8,155 | | Net property | 87 | | Real property rights held for investment | 92 | | Total assets | 8,334 | | Liabilities: |
| | Advance from customers | 3,629 | | Accruals | 90 | | Taxes payable | 538 | | Other payables | 593 | | Tot. curr. liabs. | 4,850 | | Minority Interest | (95) | | STOCKHOLDERS' EQUITY: |
| | Com. stk. p.$0.001 | 22 | | Paid-in cap. | 66 | | Statutory reserve | 358 | | Other comprehensive income | 1 | | Retained earns. | 3,132 | | TOTAL STOCKHOLDERS' EQUITY | 3,579 | | Total liabs. | 8,334 | | Common Shares (Thou.) | 22,000 |
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* Pro forma financial statements reflect the February 12, 2010 reverse acquisition of Surmounting Limit Marketing Adviser Limited. | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 4,450,000 | | 2009 |
Full Year
| 8,700,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | 770,000 | | 2009 |
Full Year
| 5,660,000 |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2010 |
1 | .04 | | 2009 |
Full Year
| .15 |
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