OTC Bulletin Board

S & P Company Insight for CHINA AGRI-BUSINESS
 
 Profile

 
Business Summary: China Agri-Business, Inc., through its subsidiaries, engages in the manufacture, marketing, and sale of organic agricultural enhancement products in the People's Republic of China.
 
Address
  Hi-Tech Road No. 42
  Finance Plaza 9th Floor
Hi-Tech Industrial Development Zone
  Xi'an , Shaanxi Province 710068
  Phone: 011-86-29-88222938
Auditor
  Michael T. Studer CPA
  Freeport , NY
Transfer Agent
  Securities Transfer Corp.
Employees:  120
ShareHolders:  10
Founded:  2002
Domicile:  Maryland
 
  
 
 Background

 
China Agri-Business, Inc., through its subsidiaries, engages in the manufacture, marketing, and sale of organic agricultural enhancement products in the People's Republic of China. The company offers six categories of organic biochemical agricultural application products, which include Xinsheng Luyuan, a line of products whose primary function is to increase agricultural production; Xinsheng Lufeng, a line of products whose primary function is as a bactericide; Xinsheng Dadang that is an organic fungicide with additional ingredients to enhance anti-fungal effects; Xinsheng Huang-jin-gai, which is designed to help crops absorb calcium; Xinsheng Jia-tian-xia that is an organic potassium fertilizer; and Xinsheng Bai-le, which is designed to provide supplementary micro-nutrients to crops. It markets its products to farmers and retail dealers. The company was founded in 2002 and is based in Xi'an, China.
History:  INCORPORATED in Maryland Dec. 7, 2005. On Mar. 24, 2006, the company formed Mei Xin Agri Technology (Shaanxi) Co., Ltd. (Meixin), a wholly owned subsidiary of the company and a limited liability company organized under the laws of the People's Republic of China (PRC). On Apr. 22, 2006, Meixin acquired management control of Shaanxi Xin Sheng Centennial Agriculture and Technology Co., Ltd. (Xinsheng), in the same manner as if it were a wholly owned subsidiary under PRC law, and the company issued 10,950,897 (post-split) Common shares, representing approximately 89% of the 12,278,774 Common shares outstanding after the transaction, to a trustee of a trust for the benefit of the Xinsheng stockholders. Xinsheng was formed under the laws of the PRC on Apr. 22, 2002.
 
Subsidiaries:
Mei Xin Agri Technology (Shaanxi) Co., Ltd.
Shaanxi Xin Sheng Centennial Agriculture and Technology Co., Ltd.
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Deng  LiminChairman
 Deng  LipingPresident & Chief Executive Officer
 Zhou  XiaolongChief Financial Officer & Chief Accounting Officer
 Wang  JianhuaSecretary

Directors
 Deng  Limin
 Deng  Liping
 Michael  Segal
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20072006
Sales of products$3,037,414$2,154,894
Cost of goods sold964,961655,530
Gross profit2,072,4531,499,364
Selling, general and administrative expenses1,029,230592,794
Income from operations1,043,223906,570
Interest income15,6596,283
Income before income taxes1,058,882912,853
Income taxes--
Net income1,058,882912,853
Deemed dividend relating to beneficial conversion feature of Series A preferred stock(200,000)-
Net income attributable to common stockholders$858,882$912,853
Earnings per common share:
Basic$0.07$0.08
Diluted$0.07$0.08
 
Balance Sheet
  20072006
Assets
Current Assets
Cash and cash equivalents$5,984,448$3,785,535
Accounts receivable, net 65,118103,844
Inventory60,58292,253
Other receivables6,85518,476
Loans receivable-301,447
Prepaid expenses5,73522,137
Total Current Assets6,122,7384,323,692
Property, plant and equipment, net276,000296,344
Investment in Tienwe Technology822,540769,477
Intangible assets, net73,55486,014
Total Assets$7,294,832$5,475,527
Liabilities and Stockholders' Equity
Current Liabilities
Accounts payable and accrued liabilities$166,200$51,276
Total Current Liabilities166,20051,276
Redeemable Series A preferred stock, par value $.001-100,000
Stockholders' Equity
Common stock par value $.00112,95912,279
Additional paid-in capital4,150,6363,629,709
Retained earnings2,308,8731,449,991
Accumulated other comprehensive income656,164232,272
Total stockholders' equity7,128,6325,324,251
Total Liabilities and Stockholders' Equity$7,294,832$5,475,527
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   1340,000
  2008   21,180,000
  2008   3610,000
  2007   3780,000
  2007   4850,000
  2007   Full Year 3,040,000
  2006   Full Year 2,150,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1120,000
  2008   2680,000
  2008   3390,000
  2007   3290,000
  2007   4200,000
  2007   Full Year 1,060,000
  2006   Full Year 910,000
  2005   Full Year 400,000
  2004   Full Year (110,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1.01
  2008   2.05
  2008   3.03
  2007   3.02
  2007   4Nil
  2007   Full Year .07
  2006   Full Year .08
 
  
 
 Stock Data

 
 
Capitalization as of 06/30/2008:
 
 Authorized SharesOutstanding Shares
Preferred $0.001 par5,000,000None
Common $0.001 par100,000,00012,958,574
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
UNITS OFFERED: July 13, 2007, the company, through Spencer Edwards, Inc., underwriter, offered 1,000,000 Units, each consisting of one Common share, one $1.50 warrant and one $2.00 warrant, at $1.00 per Unit on a best efforts, 300,000 Units minimum, 1,000,000 Units maximum basis; comm., $0.11 per Unit-- 379,800 Units sold. Each $1.50 warrant entitled the holder to purchase one Common share at $1.50 per share for a period of three years from the date of issuance, and each $2.00 warrant entitled the holder to purchase one Common share at $2.00 per share for a period of three years from the date of issuance only upon the exercise of the $1.50 warrant.
 
Stockholders:  03/24/2008, 10.
PRINCIPAL STOCKHOLDERS: March 24, 2008, trustees for Xinsheng shareholders (trustees are: Zhihong Yang, Xiaoying Lin, Dongdong Ding, Fei Zhao and Junsheng Meng) owned or controlled 70.2% of the Common, and Liping Deng 14.3%.
 
Transfer Agent:  Securities Transfer Corp.   Frisco , TX
 
OTC Bulletin Board( Primary): CHBU
 
ExchangeYearHighLow
OTC Bulletin Board20081.50000.0700
OTC Bulletin Board20072.00000.5100
 
DIVIDENDS: Common $0.001 par: No cash. Common split 2.032-for-1, Oct. 31, 2006.