OTC Bulletin Board

S & P Company Insight for WEALTHCRAFT SYSTEMS
 
 Profile

 
Business Summary: Designs, develops, markets and supports a technology platform for wealth management services for financial institutions, including investment advisory firms, securities brokerage firms, retail and private banks, mutual fund companies and insurance companies. Its focus is on the Asia market.
 
Address
  Unit A, 9/F On Hing Building
  No. 1 On Hing Terrace
  Central   Phone: 852-3586-8233
  Website: http://www.wealthcraft.com
Auditor
  MORGENSTERN, SVOBODA & BAER, CPAs
  New York
Transfer Agent
  Pacific Stock Transfer Co.
Employees:  74
ShareHolders:  575
Founded:  1992
Domicile:  Nevada
 
  
 
 Background

 
Wealthcraft Systems Inc., together with its subsidiary, WealthCraft Systems Limited, is an information technology company that designs, develops, markets and supports a flexible, scalable and secure technology platform for wealth management services for financial institutions, including investment advisory firms, securities brokerage firms, retail and private banks, mutual fund companies and insurance companies. The company's focus is on the Asia market, primarily Hong Kong, Taiwan, Singapore and mainland China. According to Wealthcraft, this market currently lacks a comprehensive technology solution for servicing the wealth management industry. Because of a number of factors, including language and currency issues, existing products available in other parts of the world are not readily adaptable to the Asia market. Wealthcraft offers financial institutions a complete, customized solution for their wealth management businesses. The company's principal business solution, Advisor Workbench, which is implemented through its proprietary technology, gives financial professionals the tools and services required to develop and expand their wealth management businesses, including customer relationship management, financial planning, investment research, portfolio management and trade execution. This enables financial institutions to enhance customer loyalty, enhance financial advisor productivity, strengthen customer relationships and increase assets under management. Wealthcraft also offers an integrated back-office system providing order execution, order management and portfolio and commission management. The final product offering allows institutions to access the industry standard SWIFTnet funds transfer system, thereby allowing automated mutual fund transactions, which are generally manually performed in Asia. In February 2008, Wealthcraft agreed to sell a 60% stake in the company to EAB Systems (Australia) Limited in exchange for a license to sell EAB Systems products.
History:  INCORPORATED in Nevada Oct. 29, 1992, as Parque La Quinta Estates; name changed to Wealthcraft Systems Inc. Oct. 19, 2006. On Nov. 13, 2006, the company acquired WealthCraft Systems Ltd. (organized in Hong Kong Aug. 1, 2003) for 7,000,000 Common shares.
 
Subsidiaries:
WealthCraft Systems (Shenzhen) Limited
WealthCraft Systems Limited
 
 
 
 
  
 
 Management

 

Management
OfficersPosition
 Kelly Jay Michael TallasChairman, President & Chief Executive Officer
 Xiao Zhen LiChief Financial Officer & Chief Accounting Officer
 James  HeSR VP
 Deborah J. KoeberlSecretary
 Rebecca  MengInvestor Relations Contact

Directors
 Curtis  Hulleman
 Gary W. Koeberl
 Kelly Jay Michael Tallas
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20072006
Revenues913744
Cost & exps.7,3731,083
Oper. income as calculated(6,460)(339)
Interest income33
Other income101
Total income(6,447)(335)
Depr. & amort.7937
Interest exp.28
Net income(6,528)(380)
Share earns. basic($0.62)($0.05)
Share earns. diluted($0.62)($0.05)
Avge. com. shs. (Thou.)10,4508,083
 
Balance Sheet
  2007
Assets:
Cash & equiv.9
Accts. rec., net432
Other curr. assets34
Tot. curr assets475
Net property114
Intangibles218
Total assets807
Liabilities:
Notes pay.12
Bank overdraft38
Loans pay.194
Defr. income359
Accts. pay. & accruals202
Tot. curr. liabs.805
Long-term debt398
Com. stk. p.$0.00111
Paid-in cap.7,010
Other stockholders equity1
Retained earns.(7,418)
Total liabs.807
Equity per ShareNM
Common Shares (Thou.)10,900
 
 * WealthCraft Systems Inc. (WealthCraft Holdings) was incorporated on October 29, 1992 under the laws of the State of Nevada under the name Parque La Quinta Estates. From February 1, 1993 until November 13, 2006, Parque La Quinta was inactive and was a so-called shell company. On October 16, 2006 Parque La Quinta Estate's corporate name was changed to WealthCraft Systems Inc. On November 13, 2006, WealthCraft Holdings completed the transactions contemplated by a certain Exchange Agreement, dated as of October 19, 2006, by and among WealthCraft Holdings, certain shareholders of WealthCraft Holdings, WealthCraft Systems Ltd., a private limited company organized under the laws of the Hong Kong Special Administrative Region of the People's Republic of China (WealthCraft HK) and the shareholders of WealthCraft HK (the Exchange Agreement). Accordingly, WealthCraft Holdings acquired all of the issued and outstanding shares of stock of WealthCraft HK, in exchange for the issuance in the aggregate of 7,000,000 shares of common stock of WealthCraft Holdings, which shares represented 70% of the issued and outstanding capital stock of WealthCraft Holdings after the consummation of the Exchange Agreement and the transactions contemplated thereby. As a result of the Exchange Agreement, WealthCraft HK became a wholly-owned subsidiary of WealthCraft Holdings.
 
  
 
 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   1390,000
  2008   2390,000
  2008   3380,000
  2008   4440,000
  2008   Full Year 1,590,000
  2007   1180,000
  2007   2170,000
  2007   3260,000
  2007   4310,000
  2007   Full Year 910,000
  2006   140,000
  2006   2350,000
  2006   3150,000
  2006   4180,000
  2006   Full Year 740,000
  2005   110,000
  2005   210,000
  2005   3160,000
  2005   4160,000
  2005   Full Year 340,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1(260,000)
  2008   2(120,000)
  2008   3(150,000)
  2008   4(120,000)
  2008   Full Year (650,000)
  2007   1(590,000)
  2007   2(5,340,000)
  2007   3(310,000)
  2007   4(290,000)
  2007   Full Year (6,528,000)
  2006   Full Year (380,000)
  2005   Full Year (308,000)
  2004   Full Year (180,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.02)
  2008   2(.01)
  2008   3(.01)
  2008   4(.01)
  2008   Full Year (.06)
  2007   1(.07)
  2007   2(.49)
  2007   3(.03)
  2007   4(.03)
  2007   Full Year (.62)
  2006   1(.02)
  2006   2.01
  2006   3(.03)
  2006   4(.01)
  2006   Full Year (.05)
  2005   Full Year (.04)
 
  
 
 Stock Data

 
 
Capitalization as of 12/31/2007:
 
 Authorized SharesOutstanding Shares
Common $0.001 par25,000,00010,900,000
 
LONG TERM DEBT: $398,012.
 
Common $0.001 par
 
Stockholders:  06/15/2008, 575.
Transfer Agent:  Pacific Stock Transfer Co.   Las Vegas , NV
 
OTC Bulletin Board( Primary): WCSY
 
ExchangeYearHighLow
OTC Bulletin Board20085.79000.3900
OTC Bulletin Board20077.00004.9000
 
DIVIDENDS: Common $0.001 par: No cash. Common split 3.5-for-1, July 27, 2006.