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| | Business Summary: Conducts operations in two business segments: electronic products and components, and online games. The company's online game business segment operates online games in North America pursuant to an exclusive North American master license agreement with Joyon Entertainment Co., Ltd. | | | Address
3000 Scott Blvd Ste 206
Santa Clara
, CA 95054-3331
Phone: 408-970-8050
Website: http://www.joytotousa.com
| | Auditor |
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Meyler & Company, LLC
| | Transfer Agent |
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Holladay Stock Transfer, Inc.
| Employees: 5
ShareHolders: 32 | Founded: 2001
Domicile: Nevada | | | |
| | Joytoto USA, Inc., in the development stage as of Mar. 31, 2008, conducts operations in two business segments: electronic products and components, and online games.
In its electronic products and components business, the company operates as a virtual, original equipment manufacturer (OEM) and original design manufacturer (ODM) of consumer electronics for retailers throughout the world.
In February 2008, Joytoto USA entered into an agreement with Hyundai RFmon Corp., a U.S. distributor of electronic products. Under the agreement, upon receipt of an initial purchase order from Hyundai of a minimum of $10 million, the company will manufacture, market and supply to Hyundai various electronic and digital products, including, but not limited to, ATM machines, DVD download dispensers and smart teller machines. The agreement will remain in effect until Dec. 31, 2012.
Pollex's target customers are value-added resellers ("VARs") that sell consumer electronics worldwide. Best Buy and Reigncom, with which its controlling parent company, Joytoto Korea, has current agreements, or recently had agreements, are examples of VAR's. In addition to its intent to take over Joytoto Korea's relationships with Best Buy and Reigncom, it is actively seeking to develop partnerships with other leading retailers and consumer electronics brands globally. | | History: INCORPORATED in Nevada Nov. 2, 2001, as Web Views Corp.; name changed to Cascade Mountain Mining Company, Inc. June 17, 2003, to National Parking Systems, Inc. Jan. 7, 2005, to BioStem, Inc. Nov. 18, 2005, to Joytoto USA, Inc. Oct. 31, 2007; and to Pollex, Inc. Oct. 24, 2008.
October 31, 2007, acquired Joyon Entertainment, Inc. in exchange for 115,000,000 Common shares (after giving effect to a 1-for-40 reverse split) as well as the divestment of two subsidiaries, BH Holding Company, Inc. and ABS Holding Company, Inc. | | | | Subsidiaries: |
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Joyon Entertainment, Inc.
Joytoto America, Inc.
Joytoto Technologies, Inc.
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Management
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| Officers | Position |
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| Seong Yong Cho | President & Chief Executive Officer | | Doo Ho Choi | Chief Operating Officer | | Seong Sam Cho | Secretary & Chief Financial Officer |
| | Directors |
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| Seong Sam Cho | | Seong Yong Cho | | Doo Ho Choi | | | |
| | | | Capitalization as of 03/31/2009: | | | | | Authorized Shares | Outstanding Shares |
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| Common $0.001 par | 300,000,000 | 5,120,417 | | Preferred $0.001 par | 10,000,000 | None |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
03/31/2009,
32.
| | PRINCIPAL STOCKHOLDERS: March 31, 2009, Joytoto Co. Ltd. and its wholly owned subsidiary, Joyon Entertainment Co., Ltd., together owned or controlled 42.3% of the Common, Seong Yong Cho 13.7% and Seong Sam Cho 13.7%. | | | |
Transfer Agent: Holladay Stock Transfer, Inc.
Scottsdale
, AZ | | | | OTC Bulletin Board( Primary): PLLX | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2008 | 11.0000 | 0.0400 | | OTC Bulletin Board | 2007 | 95.6000 | 0.5500 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common reverse split 1-for-40, Oct. 31, 2007; and 1-for-40 in reverse Oct. 31, 2008. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2008 | 2007 |
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| REVENUES | 732 | - | | COSTS AND EXPENSES |
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| | Cost of goods sold | 667 | - | | Impairment of license agreements | 9,095 | - | | Selling, general and administrative | 25,490 | 49,754 | | Depreciation | 8 | 6 | | Amortization | 1,461 | 1,062 | | Allowance for bad debts | 200 | - | | Research and development | 15 | - | | Interest expense | 6 | 1 | | INCOME TAXES | (2) | - | | NET LOSS | (36,212) | (50,822) | | NET LOSS PER SHARE BASIC | (7.07) | (22.69) | | NET LOSS PER SHARE DILUTED | (7.07) | (22.69) |
| | | | Balance Sheet | |
| 2008 | 2007 |
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| Assets: |
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| | Cash | 9 | - | | Prepaid expenses | - | 4 | | Tot. curr assets | 9 | 4 | | Net property | 12 | 20 | | License Agreements, net | 4,846 | 15,401 | | Goodwill | 53 | 53 | | Deposits | 3 | 3 | | Total assets | 4,922 | 15,481 | | Liabilities: |
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| | Bank overdraft | - | 2 | | Accrued expenses and accounts payable | 525 | 205 | | Due to affiliate | 194 | 105 | | Loan payable | 296 | 50 | | Tot. curr. liabs. | 1,015 | 362 | | Com. stk. p.$0.001 | 5 | 5 | | Paid-in cap. | 91,025 | 66,025 | | Retained earns. | (87,124) | (50,911) | | Total Stockholders Equity | 3,906 | 15,119 | | Total liabs. | 4,922 | 15,481 |
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* On October 12, 2007 Joytoto USA, Inc. (the ?Company?) entered into a Stock Exchange Agreement with Joytoto Co., Ltd., a Korean company (?Joytoto Korea?), and Joyon Entertainment Co., Ltd., a Korean company (?Joyon Korea?), to purchase 100% of the issued and outstanding capital stock of Joyon Entertainment, Inc., a Delaware corporation (?JEI?), in exchange for 115,000,000 shares of common stock (after giving effect to a one-for-forty reverse split) as well as the divestment of the Company?s two subsidiaries, BH Holding Company, Inc. and ABS Holding Company, Inc. As a result of the above transactions, Joytoto Co. Ltd., a Korean company, beneficially owns approximately 75% of the Company?s voting shares (including shares owned by its wholly-owned subsidiary, JEI). Effective on October 31, 2007, the Company?s name was changed to Joytoto USA, Inc. and its common stock commenced trading under the new symbol ?JYTO?. | | | |
| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | 60,000 | | 2008 |
1 | Nil | | 2008 |
2 | 730,000 | | 2008 |
3 | Nil | | 2008 |
Full Year
| 730,000 | | 2007 |
1 | 480,000 | | 2007 |
2 | 460,000 | | 2007 |
3 | 480,000 | | 2007 |
Full Year
| Nil | | 2006 |
1 | 400,000 | | 2006 |
2 | 430,000 | | 2006 |
3 | 410,000 | | 2006 |
4 | 530,000 | | 2006 |
Full Year
| 1,760,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (6,500,000) | | 2008 |
1 | (6,890,000) | | 2008 |
2 | (6,660,000) | | 2008 |
3 | (15,860,000) | | 2007 |
1 | (180,000) | | 2007 |
2 | (170,000) | | 2007 |
3 | (190,000) | | 2006 |
1 | (530,000) | | 2006 |
2 | (500,000) | | 2006 |
3 | (280,000) | | 2006 |
4 | (740,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (1.27) | | 2008 |
1 | (1.20) | | 2008 |
2 | (1.20) | | 2008 |
3 | (3.10) | | 2008 |
Full Year
| (7.07) | | 2007 |
1 | (.30) | | 2007 |
2 | (.30) | | 2007 |
3 | (.30) | | 2007 |
Full Year
| (22.80) | | 2006 |
1 | (.30) | | 2006 |
2 | (.30) | | 2006 |
3 | (.30) | | 2006 |
4 | (.30) | | 2006 |
Full Year
| (.30) |
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