OTC Bulletin Board S & P Company Insight for LIGHTSCAPE TECHS INC
Profile
	Business Summary: Designs, installs and operates LED out-of-home advertising billboards; provides design, installation and digital control of LED video and lighting systems; and develops, manufactures and sells lighting source products, including certain categories of high-intensity discharge lighting products.   Address   18/F., W Square, 318 Hennessy Road   Wanchai   Phone: 852-2546-1808   Website: http://www.lightscapetech.com.hk Auditor   Yu and Associates CPA Corp Transfer Agent   Pacific Stock Transfer Co. Employees:  177 ShareHolders:  165 Founded:  1995 Domicile:  Nevada
Background
	Lightscape Technologies Inc. engages in the following business activities: light-emitting diode (LED) out-of-home advertising, LED solutions and other lighting source products. In its LED out-of-home advertising business, Lightscape designs, installs and operates LED out-of-home advertising billboards. In its LED solutions business, Lightscape provides design, installation and digital control of LED video and lighting systems; original equipment manufacturing (OEM) and licensing of the company's proprietary digital controller software system; and rentals of LED-based hardware. In its lighting source products business, Lightscape develops, manufactures and sells lighting source products. The company manufactures and sells high-intensity discharge (HID) lighting products including metal halide lamps and high-pressure sodium lamps. The company derives a substantial portion of its revenues from sales in the People's Republic of China. History:  INCORPORATED in Nevada Sept. 14, 1995 as Legacy Bodysentials Inc. Name changed to Legacy Minerals Inc. Sept. 25, 1996; to Global Commonwealth Inc. May 18, 1998; to Global Innovative Systems Inc. Nov. 12, 1999; and to Lightscape Technologies Inc. Apr. 20, 2007. January 13, 2005, issued 13,000,000 shares of its Common stock in exchange for the issued and outstanding shares of Tech Team Holdings Limited, on the basis of one share of the company's Common for every 27.29219 Tech Team Ordinary share. February 27, 2006, issued 1,750,000 Common shares and $1,928,021 cash in exchange for 26.0% of the shares of Beijing Illunimation (Hong Kong) Limited. In subsequent purchases, issued 3,076,923 Common shares in the aggregate to increase its interest to an approximate 76.8% interest in Beijing Illumination.   Subsidiaries: Beijing Aihua New Enterprise Lighting Appliance Company Limited Beijing Illumination (Hong Kong) Limited Golden Cypress Limited Grandplex Development Limited Lightscape Technologies (Greater China) Limited Lightscape Technologies (Macau) Limited Luminous Lighting Technology (Asia) Limited Media AV International Pte Limited Powerland Technology Limtied Pro Shing Construction Team Macau Limited Tech Team (China) Limited Tech Team Development (Zhuhai) Limited Tech Team Development Limited Tech Team Holdings Limited Tech Team Investment Limited Tomi Fuji Energy Management Services Consultants Limited Tomi Fuji Energy Pte. Limited     Capital Expenditures, thousand. US Dollars   Year   Amount   2006   38   2005   3
Management
	Management Officers Position  Bondy  Tan President, Secretary, Treasurer & Chief Executive Officer Directors  Charles  Cheung  Alfred Lee Ming Sung  Bondy  Tan  Kwok Tin Tang  Edmand Yuk Man Wong
Annual Report
	Annual Report   Income Statement   2009 2008 Revenues: LED solutions revenue 4,046,490 3,564,537 Other revenue 1,573,870 2,397,874 Total net revenues 5,620,360 5,962,411 Cost of revenues (3,702,332) (4,694,766) Gross profit 1,918,028 1,267,645 Selling and marketing expenses (698,116) (662,628) General and administrative expenses 5,172,397 (4,952,165) Interest expense (27,554) (382,022) Interest income 867 39,424 Other income 453,129 888,412 Loss on disposal of plant and equipment (432,520) (3,728) Impairment loss on intangible assets - (689,204) Impairment on goodwill - (526,863) Loss on redemption of redeemable convertible notes and options - (2,253,359) Other expenses (171,102) - (Loss) income from continuing operations before income tax and minority interests (5,029,665) (7,274,488) Income taxes 239,912 - Net (loss) income from continuing operations before minority interests (4,789,753) (7,274,488) Minority interests 314,817 444,215 Net (loss) income from continuing operations (4,474,936) (6,830,273) (Loss) on discontinued operations (108,314) (2,585,802) Net (loss) income attributable to shareholders of the Company (4,583,250) (9,416,075) (Loss) Earnings per share - Basic Continuing operations (0.08) (0.16) Discontinued operations Nil (0.06) Total (0.08) (0.22) - Diluted Continuing operations (0.08) (0.16) Discontinued operations Nil (0.06) Total (0.08) (0.22)   Balance Sheet   2009 2008 ASSETS Current assets: Cash and cash equivalents 381,643 3,976,565 Accounts receivable, net 2,239,228 4,438,207 Costs and estimated earnings in excess of billings on uncompleted contracts 673,313 639,035 Prepaid expenses and other current assets 1,817,215 1,742,031 Inventories 3,539,527 3,903,798 Current assets of discontinued operations 591,921 699,847 Total current assets 9,242,847 15,399,483 Intangible assets, net 969,282 1,700,114 Goodwill 4,476,574 4,476,574 Plant and equipment, net 2,529,141 4,650,398 Out-of-home advertising equipment, net 2,213,808 - Construction in progress 266,250 - Net investment in sales-type leases of discontinued operation 36,359 126,521 Other assets 823,299 - TOTAL ASSETS 20,557,560 26,353,090 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Short-term bank borrowings 55,266 - Trade payables 689,945 2,413,203 Amount due to a director 745,501 - Accrued expenses and other current liabilities 1,284,239 763,797 Obligations under capital leases - current portion 2,904 1,774 Income tax payable 10,062 366,281 Liabilities of discontinued operations 166,953 364,191 Total current liabilities 2,954,870 3,909,246 Obligations under capital leases - non-current portion 5,313 5,469 Long-term bank borrowings 62,158 - Minority interest 1,106,884 1,421,702 Shareholders' equity: Common stock, par value $0.001 55,876 55,876 Additional paid-in capital 34,140,708 34,140,708 Common stock warrants 344,673 344,673 Other reserves 28,944 28,944 Accumulated other comprehensive income 1,077,354 1,082,442 Accumulated deficit (19,219,220) (14,635,970) Total shareholders' equity 16,428,335 21,016,673 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 20,557,560 26,353,090
Interim Report
	Interim Report      Data Not Available
Pro Forma Report
	Pro Forma Report      Data Not Available
Quarterly Report
	Quarterly Report Information      Quarterly Revenue, US$ Year Quarter Revenue   2009   1 1,560,000   2009   2 1,090,000   2009   3 1,700,000   2009   Full Year 5,620,000   2008   1 850,000   2008   3 3,630,000   2008   Full Year 5,960,000   2007   1 1,920,000   2007   2 6,590,000   2007   Full Year 13,630,000   2005   Full Year 1,500,000     Quarterly Net Income, US$ Year Quarter Revenue   2008   1 Nil   2008   2 Nil   2008   3 Nil   2007   1 Nil   2007   3 Nil   2006   1 Nil   2006   2 Nil   2004   Full Year (10,000)     Quarterly EPS, US$ Year Quarter Revenue   2009   1 (.02)   2009   2 (.01)   2009   3 (.01)   2009   Full Year (.08)   2008   1 (.04)   2008   3 (.01)   2008   Full Year (.16)   2007   1 (.01)   2007   2 .03   2007   Full Year .02   2006   Full Year (.18)   2005   1 Nil   2004   1 Nil   2004   2 Nil   2004   3 Nil   2004   4 Nil   2004   Full Year Nil
Stock Data
	Capitalization as of 03/31/2009:     Authorized Shares Outstanding Shares Preferred $0.001 par 100,000,000 None Common $0.001 par 800,000,000 55,876,410   LONG TERM DEBT: $67,471.   Common $0.001 par   COMMON SOLD PRIVATELY: March 17, 2008, the company completed a private placement in which it sold 9,375,000 Common shares at $0.80 per share for aggregate proceeds of $7,500,000. The placement agent for the offering received a cash fee in the amount of $525,000 and warrants to purchase up to 656,250 Common shares.   Stockholders:  06/30/2009, 165. PRINCIPAL STOCKHOLDERS: June 30, 2009, Eastern Advisors Capital, Ltd. owned or controlled 13.8% of the Common, Galaxy China Opportunities Fund 9.7%, Bondy Tan 7.3%, SMC Investment Management Limited 6.6% and Liberty Square Strategic Partners IV (Asia) Offshore, L.P. 5.1%.   Transfer Agent:  Pacific Stock Transfer Co.   Las Vegas , NV   OTC Bulletin Board( Primary): LTSC   Exchange Year High Low OTC Bulletin Board 2008 2.0000 0.2000 OTC Bulletin Board 2007 1.2000 0.4000 OTC Bulletin Board 2006 0.9000 0.3300 OTC Bulletin Board 2005 2.7000 0.3500 OTC Bulletin Board 2004 0.5625 0.1875 OTC Bulletin Board 2003 1.3000 0.0200   DIVIDENDS: Common $0.001 par: None.