OTC Bulletin Board

S & P Company Insight for LIGHTSCAPE TECHS INC

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.
  18/F., W Square, 318 Hennessy Road
  Wanchai   Phone: 852-2546-1808
  Website: http://www.lightscapetech.com.hk
  Yu and Associates CPA Corp
Transfer Agent
  Pacific Stock Transfer Co.
Employees:  177
ShareHolders:  165
Founded:  1995
Domicile:  Nevada

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.
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


 Bondy  TanPresident, Secretary, Treasurer & Chief Executive Officer

 Charles  Cheung
 Alfred Lee Ming Sung
 Bondy  Tan
 Kwok Tin Tang
 Edmand Yuk Man Wong
 Annual Report

Annual Report
Income Statement
LED solutions revenue 4,046,4903,564,537
Other revenue 1,573,8702,397,874
Total net revenues5,620,3605,962,411
Cost of revenues(3,702,332)(4,694,766)
Gross profit1,918,0281,267,645
Selling and marketing expenses(698,116)(662,628)
General and administrative expenses5,172,397(4,952,165)
Interest expense(27,554)(382,022)
Interest income86739,424
Other income453,129888,412
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 taxes239,912-
Net (loss) income from continuing operations before minority interests(4,789,753)(7,274,488)
Minority interests314,817444,215
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 operationsNil(0.06)
- Diluted
Continuing operations(0.08)(0.16)
Discontinued operationsNil(0.06)
Balance Sheet
Current assets:
Cash and cash equivalents381,6433,976,565
Accounts receivable, net 2,239,2284,438,207
Costs and estimated earnings in excess of billings on uncompleted contracts673,313639,035
Prepaid expenses and other current assets1,817,2151,742,031
Current assets of discontinued operations591,921699,847
Total current assets9,242,84715,399,483
Intangible assets, net969,2821,700,114
Plant and equipment, net2,529,1414,650,398
Out-of-home advertising equipment, net 2,213,808-
Construction in progress266,250-
Net investment in sales-type leases of discontinued operation36,359126,521
Other assets823,299-
TOTAL ASSETS20,557,56026,353,090
Current liabilities:
Short-term bank borrowings 55,266-
Trade payables689,9452,413,203
Amount due to a director745,501-
Accrued expenses and other current liabilities1,284,239763,797
Obligations under capital leases - current portion2,9041,774
Income tax payable10,062366,281
Liabilities of discontinued operations166,953364,191
Total current liabilities2,954,8703,909,246
Obligations under capital leases - non-current portion5,3135,469
Long-term bank borrowings 62,158-
Minority interest1,106,8841,421,702
Shareholders' equity:
Common stock, par value $0.00155,87655,876
Additional paid-in capital34,140,70834,140,708
Common stock warrants344,673344,673
Other reserves28,94428,944
Accumulated other comprehensive income1,077,3541,082,442
Accumulated deficit(19,219,220)(14,635,970)
Total shareholders' equity16,428,33521,016,673
 Interim Report

Interim Report   
Data Not Available
 Pro Forma Report

Pro Forma Report   
Data Not Available
 Quarterly Report

Quarterly Report Information   
Quarterly Revenue, US$
  2009   11,560,000
  2009   21,090,000
  2009   31,700,000
  2009   Full Year 5,620,000
  2008   1850,000
  2008   33,630,000
  2008   Full Year 5,960,000
  2007   11,920,000
  2007   26,590,000
  2007   Full Year 13,630,000
  2005   Full Year 1,500,000
Quarterly Net Income, US$
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2007   1Nil
  2007   3Nil
  2006   1Nil
  2006   2Nil
  2004   Full Year (10,000)
Quarterly EPS, US$
  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   1Nil
  2004   1Nil
  2004   2Nil
  2004   3Nil
  2004   4Nil
  2004   Full Year Nil
 Stock Data

Capitalization as of 03/31/2009:
 Authorized SharesOutstanding Shares
Preferred $0.001 par100,000,000None
Common $0.001 par800,000,00055,876,410
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
OTC Bulletin Board20082.00000.2000
OTC Bulletin Board20071.20000.4000
OTC Bulletin Board20060.90000.3300
OTC Bulletin Board20052.70000.3500
OTC Bulletin Board20040.56250.1875
OTC Bulletin Board20031.30000.0200
DIVIDENDS: Common $0.001 par: None.