[X]
QUARTERLY
REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
[
] TRANSITION REPORT UNDER SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
CHINA
SWINE GENETICS, INC.
|
(Name
of Registrant as Specified in its
Charter)
|
DELAWARE
|
84-0916585
|
(State
or Other Jurisdiction of incorporation or organization)
|
(I.R.S.
Employer Identification No.)
|
1077
Ala Napunani Street, Honolulu,
HI 96818
|
||
(Address
of principal executive offices)
|
||
808-429-5954
|
||
(Issuer's telephone
number)
|
Page(s)
|
|
Condensed
Consolidated Balance Sheets (Unaudited) as of December 31,
2009
|
|
And
(Audited) as of June 30, 2009
|
F-1
|
Condensed
Consolidated Statements of Operations (Unaudited) for the
|
|
Three
Months and Six Months Ended December 31, 2009 and 2008
|
F-2
|
Condensed
Consolidated Statements of Comprehensive Income (Unaudited) for
the
|
|
Six
Months Ended December 31, 2009 and 2008
|
F-3
|
Condensed
Consolidated Statements of Shareholders’ Equity (Unaudited) for
the
|
|
Six
Months Ended December 31, 2009
|
F-4
|
Condensed
Consolidated Statements of Cash Flows (Unaudited) for the
|
|
Six
Months Ended December 31, 2009 and 2008
|
F-5
|
Notes
to Condensed Consolidated Financial Statements (Unaudited)
|
F-6
to F-17
|
China
Swine Genetics, Inc. (f/k/a Apogee Robotics, Inc.) and
Subsidiaries
|
||||||||
Condensed
Consolidated Balance Sheets
|
||||||||
December
31, 2009
|
June
30, 2009
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
Assets
|
||||||||
Current
Assets:
|
||||||||
Cash
and equivalents
|
$ | 1,223,563 | $ | 82,854 | ||||
Accounts
receivable
|
- | 634,550 | ||||||
Inventories
|
1,508,750 | 998,600 | ||||||
Advanced
to suppliers, net
|
27,965,969 | 20,654,804 | ||||||
Prepayments
and other current assets
|
126,351 | 146,789 | ||||||
Total
Current Assets
|
30,824,633 | 22,517,597 | ||||||
Property,
Plant, Equipment and Breeding Stock, net
|
2,140,367 | 2,486,610 | ||||||
Total
Long-Term Assets
|
2,140,367 | 2,486,610 | ||||||
Total
Assets
|
32,965,000 | 25,004,207 | ||||||
Liabilities and
Equity
|
||||||||
Current
Liabilities:
|
||||||||
Accounts
payable and accrued expenses
|
588,844 | 447,565 | ||||||
Customer
deposit
|
28,331 | 4,270 | ||||||
Loans
payable, net, current maturities
|
1,043,183 | 1,068,909 | ||||||
Loans
from shareholders/officers, net
|
1,000 | 11,024,211 | ||||||
Deferred
interest income
|
55,393 | 29,077 | ||||||
Other
current liabilities
|
43,469 | 64,593 | ||||||
Total
Current Liabilities
|
1,760,220 | 12,638,625 | ||||||
Total
Liabilities
|
1,760,220 | 12,638,625 | ||||||
Equity:
|
||||||||
China
Swine Genetics Inc. Shareholders' Equity:
|
||||||||
Preferred
Stock, $0.001 par value, 9,995,200 shares authorized,
|
||||||||
zero
shares issued and outstanding, respectively *
|
- | - | ||||||
Series
A Convertible Preferred Stock ,$0.001 par value,
|
||||||||
4,800
shares authorized, zero and 4,646.05933 shares
issued
|
||||||||
and
outstanding, respectively *
|
- | 5 | ||||||
Common
stock, $0.001 par value, 300,000,000 shares
authorized,
|
||||||||
20,071,401
and 68,584 shares issued and outstanding, respectively *
|
20,071 | 69 | ||||||
Additional
paid-in capital *
|
15,192,419 | 4,043,180 | ||||||
Reserve
funds
|
3,093,947 | 1,874,970 | ||||||
Retained
earnings
|
11,845,141 | 5,295,496 | ||||||
Accumulated
other comprehensive income
|
735,542 | 720,415 | ||||||
Total
China Swine Genetics Inc. Shareholders' Equity
|
30,887,120 | 11,934,135 | ||||||
Noncontrolling
Interest
|
317,660 | 431,447 | ||||||
Total
Equity
|
31,204,780 | 12,365,582 | ||||||
Total
Liabilities and Equity
|
$ | 32,965,000 | $ | 25,004,207 | ||||
*:
As restated to show recapitalization and reverse split.
|
||||||||
The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.
|
China
Swine Genetics, Inc. (f/k/a Apogee Robotics, Inc.) and
Subsidiaries
|
||||||||||||||||
Condensed
Consolidated Statements of Operations (Unaudited)
|
||||||||||||||||
For
Three Months Ended December 31,
|
For
Six Months Ended December 31,
|
|||||||||||||||
2009
|
2008
|
2009
|
2008
|
|||||||||||||
Unaudited
|
Unaudited
|
Unaudited
|
Unaudited
|
|||||||||||||
Revenues
|
$ | 22,996,905 | $ | 14,884,428 | $ | 44,892,413 | $ | 26,398,950 | ||||||||
Cost
of Goods Sold
|
17,670,548 | 12,469,277 | 34,838,410 | 21,771,117 | ||||||||||||
Gross
Profit
|
5,326,357 | 2,415,151 | 10,054,003 | 4,627,833 | ||||||||||||
Operating
Expenses
|
||||||||||||||||
Selling
expenses
|
685,947 | 517,112 | 1,357,310 | 904,869 | ||||||||||||
General
and administrative expenses
|
231,406 | 123,793 | 299,578 | 287,258 | ||||||||||||
Bad
debt for advanced to suppliers
|
205,154 | 2,960 | 383,984 | 6,713 | ||||||||||||
Total
Operating Expenses
|
1,122,507 | 643,865 | 2,040,872 | 1,198,840 | ||||||||||||
Income
From Operations
|
4,203,850 | 1,771,286 | 8,013,131 | 3,428,993 | ||||||||||||
Other
Income (Expenses)
|
||||||||||||||||
Interest income
(expenses), net
|
1,266 | (6,959 | ) | 1,820 | (26,179 | ) | ||||||||||
Other
(expenses) income, net
|
(209 | ) | 9,909 | (6,451 | ) | 9,090 | ||||||||||
Loss
on fixed assets disposal
|
(27 | ) | (54,082 | ) | (107,780 | ) | (154,725 | ) | ||||||||
Loss
on inventory disposal
|
(6,706 | ) | (81,418 | ) | (245,885 | ) | (141,452 | ) | ||||||||
Total
Other Expenses
|
(5,676 | ) | (132,550 | ) | (358,296 | ) | (313,266 | ) | ||||||||
Income
Before Income Taxes
|
4,198,174 | 1,638,736 | 7,654,835 | 3,115,727 | ||||||||||||
Income
Tax Provision
|
- | - | - | - | ||||||||||||
Net
Income Before Noncontrolling Interest
|
4,198,174 | 1,638,736 | 7,654,835 | 3,115,727 | ||||||||||||
Less:
Net income attributable to the noncontrolling interest
|
(9,973 | ) | (52,453 | ) | (113,787 | ) | (108,517 | ) | ||||||||
Net
Income Attributable to China Swine Genetics Inc.
|
$ | 4,208,147 | $ | 1,691,189 | $ | 7,768,622 | $ | 3,224,244 | ||||||||
Earnings
Per Share:
|
||||||||||||||||
-
Basic
|
$ | 0.36 | $ | 24.66 | $ | 1.33 | $ | 47.01 | ||||||||
-
Diluted
|
$ | 0.36 | $ | 0.08 | $ | 1.33 | $ | 0.16 | ||||||||
Weighted
Common Shares Outstanding *
|
||||||||||||||||
-
Basic
|
11,613,459 | 68,584 | 5,841,022 | 68,584 | ||||||||||||
-
Diluted
|
11,613,459 | 20,027,167 | 5,841,022 | 20,027,167 | ||||||||||||
*:
As restated to show recapitalization and reverse split.
|
||||||||||||||||
The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.
|
China
Swine Genetics, Inc. (f/k/a Apogee Robotics, Inc.) and
Subsidiaries
|
||||||||
Condensed
Consolidated Statements of Comprehensive Income
(Unaudited)
|
||||||||
For
Six Months Ended December 31,
|
||||||||
2009
|
2008
|
|||||||
(Unaudited)
|
(Unaudited)
|
|||||||
Net
Income Before Noncontrolling Interest
|
$ | 7,654,835 | $ | 3,115,727 | ||||
Other
Comprehensive Income:
|
||||||||
Foreign
Currency Translation Income
|
15,127 | 111,350 | ||||||
Comprehensive
Income
|
$ | 7,669,962 | $ | 3,227,077 | ||||
The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.
|
China
Swine Genetics, Inc. (f/k/a Apogee Robotics, Inc.) and
Subsidiaries
|
||||||||||||||||||||||||||||||||||||||||
Condensed
Consolidated Statements of Shareholders' Equity
(Unaudited)
|
||||||||||||||||||||||||||||||||||||||||
For
The Six Months Ended 12/31/2009
|
||||||||||||||||||||||||||||||||||||||||
China
Swine Genetics, Inc. Shareholders' Equity
|
||||||||||||||||||||||||||||||||||||||||
Retained
|
Accumulated
|
|
|
|||||||||||||||||||||||||||||||||||||
Series
A Convertible
Preferred
Stock
|
Common
stock
|
Additional
Paid-in
|
Reserve
|
Earning /
(Accumulated
|
Other
Comprehensive
|
Noncontrolling
|
||||||||||||||||||||||||||||||||||
Shares
|
Amount
|
Shares
|
Amount
|
Capital |
Fund
|
Deficits) | Income | Interest | Total | |||||||||||||||||||||||||||||||
Balance
as of June 30, 2008
|
4,646 | $ | 5 | 68,584 | $ | 69 | $ | 4,037,216 | $ | 1,073,349 | $ | 1,583,331 | $ | 529,819 | $ | 862,174 | $ | 8,085,963 | ||||||||||||||||||||||
Net
Income
|
- | - | - | - | - | - | 4,513,786 | - | (430,727 | ) | 4,083,059 | |||||||||||||||||||||||||||||
Compensation
with Stock
|
- | - | - | - | 5,964 | - | - | - | 5,964 | |||||||||||||||||||||||||||||||
Appropriation
of Reserve Funds
|
- | - | - | - | - | 801,621 | (801,621 | ) | - | - | ||||||||||||||||||||||||||||||
Foreign
Currency Translation Gain
|
- | - | - | - | - | - | - | 190,596 | 190,596 | |||||||||||||||||||||||||||||||
Balance
as of June 30, 2009
|
4,646 | $ | 5 | 68,584 | $ | 69 | $ | 4,043,180 | $ | 1,874,970 | $ | 5,295,496 | $ | 720,415 | $ | 431,447 | $ | 12,365,582 | ||||||||||||||||||||||
Majority
shareholder waived his right to repayment
|
- | - | - | - | 11,169,236 | - | - | - | - | 11,169,236 | ||||||||||||||||||||||||||||||
Series
A Convertible Preferred Stocks were Converted into Common
Stocks
|
(4,646 | ) | (5 | ) | 19,958,583 | 19,958 | (19,953 | ) | - | - | - | - | - | |||||||||||||||||||||||||||
Issued
Additional Common Stocks
|
- | - | 44,234 | 44 | (44 | ) | - | - | - | - | - | |||||||||||||||||||||||||||||
Net
Income
|
- | - | - | - | - | - | 7,768,622 | - | (113,787 | ) | 7,654,835 | |||||||||||||||||||||||||||||
Appropriation
of Reserve Funds
|
- | - | - | - | - | 1,218,977 | (1,218,977 | ) | - | - | - | |||||||||||||||||||||||||||||
Foreign
Currency Translation Gain
|
- | - | - | - | - | - | - | 15,127 | - | 15,127 | ||||||||||||||||||||||||||||||
Balance
as of December 31, 2009
|
- | $ | - | 20,071,401 | $ | 20,071 | $ | 15,192,419 | $ | 3,093,947 | $ | 11,845,141 | $ | 735,542 | $ | 317,660 | $ | 31,204,780 | ||||||||||||||||||||||
The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.
|
China
Swine Genetics, Inc. (f/k/a Apogee Robotics, Inc.) and
Subsidiaries
|
||||||||
Condensed
Consolidated Statements of Cash Flows
(Unaudited)
|
||||||||
For
Six Months Ended December 31,
|
||||||||
2009
|
2008
|
|||||||
Unaudited
|
Unaudited
|
|||||||
Cash
Flows From Operating Activities
|
||||||||
Net
Income
|
$ | 7,768,622 | $ | 3,224,244 | ||||
Adjustments
to Reconcile Net Income to Net Cash Provided by Operating
Activities
|
||||||||
Depreciation
and amortization
|
255,143 | 471,797 | ||||||
Bad
debt adjustment
|
383,984 | 6,713 | ||||||
Net
income attributable to noncontrolling interest
|
(113,787 | ) | (108,517 | ) | ||||
Loss
on disposal of fixed assets
|
107,780 | 154,725 | ||||||
Loss
on disposal of inventory
|
245,885 | 141,452 | ||||||
Interest
adjust for discount on loan payable
|
(26,286 | ) | (28,357 | ) | ||||
Changes
in operating assets and liabilities:
|
||||||||
Accounts
receivable
|
634,550 | 335 | ||||||
Inventories
|
(760,026 | ) | (911,881 | ) | ||||
Advanced
to suppliers
|
(7,680,037 | ) | (1,338,669 | ) | ||||
Prepayments
and other current assets
|
20,507 | 8,817 | ||||||
Accounts
payable and accrued expenses
|
140,962 | 402,907 | ||||||
Customer
deposit
|
24,046 | - | ||||||
Deferred
interest income
|
26,286 | 28,357 | ||||||
Other
current liabilities
|
(21,147 | ) | 13,275 | |||||
Net
Cash Provided by Operating Activities
|
1,006,482 | 2,065,198 | ||||||
Cash
Flows From Investing Activities
|
||||||||
Payment
for purchase of equipment
|
(34,568 | ) | (4,479 | ) | ||||
Payment
for construction in progress
|
- | (7,572 | ) | |||||
Proceeds
from sale of property and equipment
|
23,906 | 39,260 | ||||||
Net
Cash (Used in) Provided by Investing Activities
|
(10,662 | ) | 27,209 | |||||
Cash
Flows From Financing Activities
|
||||||||
Proceeds
from loans payable
|
- | 495,713 | ||||||
Repayment
of loans payable
|
- | (1,503,605 | ) | |||||
Payments
for loans to shareholders/officers
|
(6,585 | ) | (75,960 | ) | ||||
Proceeds
the repayment of loans by shareholders/officers
|
150,701 | 66,007 | ||||||
Net
Cash Provided by (Used in ) Financing Activities
|
144,116 | (1,017,845 | ) | |||||
Net
Increase in Cash and Equivalents
|
1,139,936 | 1,074,562 | ||||||
Effect
of Exchange Rate Changes on Cash
|
773 | (1,131 | ) | |||||
Cash
and Equivalents at Beginning of Period
|
82,854 | 140,271 | ||||||
Cash
and Equivalents at End of Period
|
$ | 1,223,563 | $ | 1,213,702 | ||||
SUPPLEMENTAL
DISCLOSURES OF CASH FLOW INFORMATION:
|
||||||||
Interest
paid
|
$ | - | $ | 32,804 | ||||
Income
taxes paid
|
$ | - | $ | - | ||||
SUPPLEMENTAL
SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
|
||||||||
Inventory
transferred out to be breeding stock in fixed assets
|
$ | 4,801 | $ | 12,232 | ||||
Construction
in progress transferred out to be fixed assets
|
$ | - | $ | 128,797 | ||||
Majority
shareholder waived his right to repayment
|
$ | 11,169,236 | $ | - | ||||
The
accompanying notes are an integral part of these unaudited condensed
consolidated financial statements.
|
1.
|
Interim
Financial Statements:
|
2.
|
Organization
and Nature of Operations
|
3.
|
Basis
of Presentation
|
a.
|
Fiscal
Year
|
b.
|
Principle
of Consolidation
|
4.
|
Summary
of Significant Accounting Policies
|
a.
|
Use
of Estimates
|
b.
|
Foreign
Currency Translation
|
For
The Six Months Ended December 31,
|
||||||||||
2009
|
2008
|
|||||||||
Assets
and liabilities
|
the
six months ended rate of US
|
$ | 0.14648 | $ | 0.14657 |
/RMB
|
||||
Revenue
and expenses
|
average
rate of US
|
$ | 0.14643 | $ | 0.14623 |
/RMB
|
c.
|
Revenue
Recognition
|
d.
|
Income
Taxes
|
e.
|
Stock-Based
Compensation
|
f.
|
Basic
and Diluted Net Income Per Share
|
g.
|
Recent Accounting
Pronouncements
|
5.
|
Inventories
|
December
31, 2009
|
June
30, 2009
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
Raw
materials
|
$ | 81,943 | $ | 57,106 | ||||
Work
in progress
|
673,854 | 615,487 | ||||||
Finished
goods
|
752,953 | 326,007 | ||||||
Total
|
$ | 1,508,750 | $ | 998,600 |
6.
|
Advanced
to Suppliers, Net
|
December
31, 2009
|
June
30, 2009
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
Advanced
to suppliers
|
29,437,338 | 21,741,485 | ||||||
Less:
Accumulated bad debt allowance
|
1,471,369 | 1,086,681 | ||||||
Advanced
to suppliers, net
|
27,965,969 | 20,654,804 |
7.
|
Prepayments
and Other Current Assets
|
December
31, 2009
|
June
30, 2009
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
Prepaid
rent
|
$ | 104,233 | $ | 46,263 | ||||
Advance
to employees
|
10,745 | 39,313 | ||||||
Other
receivable
|
11,373 | 61,213 | ||||||
Total
|
$ | 126,351 | $ | 146,789 |
8.
|
Property,
Plant, Equipment, and Breeding Stock,
Net
|
December
31, 2009
|
June
30, 2009
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
Land
improvements
|
$ | 278,322 | $ | 278,173 | ||||
Leasehold
improvements
|
100,136 | 65,533 | ||||||
Buildings
|
1,764,099 | 1,763,151 | ||||||
Machinery
and equipment
|
687,435 | 687,065 | ||||||
Breeding
stock
|
491,114 | 866,821 | ||||||
Sub-Total
|
3,321,106 | 3,660,743 | ||||||
Less:
Accumulated depreciation
|
1,180,739 | 1,174,133 | ||||||
Total
|
$ | 2,140,367 | $ | 2,486,610 |
9.
|
Loan
payable
|
Loans
payable, net, current maturities
|
||||||||
December
31, 2009
|
June
30, 2009
|
|||||||
(Unaudited)
|
(Audited)
|
|||||||
On
December 1 and 16, 2005, the Company obtained loans in amounts
of RMB2.8 million (equivalent to $410,135 and $409,915 as of
December 31, 2009 and June 30, 2009, respectively) and RMB0.7 million
(equivalent to $102,534 and $102,479 as of December 31, 2009 and June 30,
2009, respectively) from Jiamusi Government Financial Bureau ("JGFB") by
pledging certain buildings in Huanan, which have a carrying value of
approximately RMB2.6 million (equivalent to $380,840 ). The term of the
debt was originally from October 31, 2005 to 2007. Since the Company is an
agricultural enterprise and its business is supported by the Chinese
Government, these loans do not bear interest, and the original due date
had been extended to December 31, 2008. Furthermore, before December 31,
2008, the due dates of these loans had been rescheduled to December 31,
2009. Whereas, on December 16, 2009, the due dates of these loans had been
rescheduled to December 31, 2010
|
||||||||
$ | 512,668 | $ | 512,394 | |||||
On
April 20 and September 25, 2007, the subsidiary of the Company,
Sino-Canadian, obtained loans in amounts of RMB1.5 million (equivalent to
$219,716 and $219,597 as of December 31, 2009 and June 30, 2009,
respectively) and RMB0.5 million (equivalent to $73,238 and $73,199 as of
December 31, 2009, 2009 and June 30, 2009, respectively) from TangYuan
Government Financial Bureau ("TGFB") by pledging certain buildings in
Heijinhe, which have a carrying value of approximately RMB5.1 million
(equivalent to $747,032 ). The term of the debt was originally from
January 1, 2007 to December 31, 2008. Since the Chinese government
supports the Company's business, these loans do not bear interest and all
of their due dates had been extended to December 31, 2009. Whereas, on
December 16, 2009, the due dates of these loans had been rescheduled to
December 31, 2010
|
||||||||
292,954 | 292,796 | |||||||
On
May 9, 2007, the Company obtained a loan in amount of RMB2 million
(equivalent to $292,954 and $292,796 as of December 31, 2009, 2009 and
June 30, 2009, respectively) from JGFB by pledging certain buildings in
Huanan, which have a carrying value of approximately RMB1.5 million
(equivalent to $219,715 ). The term of the debt was originally from
January 1, 2007 to December 31, 2008. Since the government support the
Company's business, this loan does not bear interest and the
due date had been extended to December 31, 2009 by JGFB on June 16,
2008. Whereas, on December 16, 2009, the due dates of these
loans had been rescheduled to December 31, 2010
|
||||||||
292,954 | 292,796 | |||||||
Total
loans payable, current maturities
|
$ | 1,098,576 | $ | 1,097,986 | ||||
Less:
discount on loans payable, current
|
55,393 | 29,077 | ||||||
Total
loans payable, net, current maturities
|
$ | 1,043,183 | $ | 1,068,909 |
10.
|
Loan
from Shareholders/Officers, Net
|
11.
|
Commitments
|
Contract
#
|
Sales
Contracts
|
Client's
Name
|
Contract
Term
|
Sales
Quantities
|
||||
1
|
Merchandise
hogs sales
|
Beijing
Da Hongmen
|
from
September 28, 2009
|
120
thousand hogs per year
|
||||
to
September 28, 2010
|
||||||||
2
|
Merchandise
hogs sales
|
Beijing
Fifth Meat Processing Factory
|
from
August 29, 2009
|
180
thousand hogs per year
|
||||
to
August 28, 2010
|
||||||||
Sales
Price
|
Hog
Average Weight
|
Hogs
Quality
|
Penalty
|
|||||
1
|
market
value in Beijing area
|
From
75 to 90kg
|
second
or/and third generation
|
1%
penalty if the merchandise
|
||||
of
merchandise hogs
|
hogs
delivered late
|
|||||||
2
|
market
value in Beijing area
|
From
75 to 90kg
|
second
or/and third generation
|
1%
penalty if the merchandise
|
||||
of
merchandise hogs
|
hogs
delivered late
|
For
The Six Months Ending December 31,
|
Amount
|
|||
2010
|
$ | 186,710 | ||
2011
|
8,037 | |||
2012
|
1,465 | |||
2013
|
1,465 | |||
2014
|
1,465 | |||
Thereafter
|
28,807 | |||
Total
minimum payments required
|
$ | 227,949 |
12.
|
Stockholders’
Equity
|
13.
|
Concentration
of Business
|
Sold
to
|
Number
of
|
Percentage
of
|
||||||||||
For
The Six Months Ended December 31,
|
Major
Customers
|
Customers
|
Total
Sales Revenue
|
|||||||||
2009
|
$ | 44,568,481 | 2 | 99.28% | ||||||||
2008
|
$ | 25,593,180 | 2 | 96.95% |
Purchased
from
|
Number
of
|
Percentage
of
|
||||||||||
For
The Six Months Ended December 31,
|
Major
Suppliers
|
Suppliers
|
Total
Purchased
|
|||||||||
2009
|
$ | 35,161,122 | 1 | 99.92% | ||||||||
2008
|
$ | 18,807,443 | 1 | 97.23% |
14.
|
Geographical
Risks
|
15.
|
Subsequent
Event
|
|
SenYu:
|
Heilongjiang
SenYu Animal Husbandry Co., Ltd., a corporation organized in the PRC
(“SenYu”). We own 100% of the equity in
SenYu.
|
|
Sino-Canadian
JV:
|
Sino-Canadian
Senyu-Polar Swine Genetics Company Limited, a joint venture company
organized in the PRC. We own 60% of the equity in Sino Canadian
JV.
|
31.1
|
Rule
13a-14(a) Certification - CEO
|
31.2
|
Rule
13a-14(a) Certification - CFO
|
32
|
Rule
13a-14(b) Certifications
|
CHINA
SWINE GENETICS, INC.
|
|
Date:
February 11, 2010
|
By:
/s/ Zhenyu
Shang
|
Zhenyu Shang ,
Chief Executive Officer
|