Quarterly report pursuant to Section 13 or 15(d)

Balance Sheets (Unaudited)

v2.3.0.15
Balance Sheets (Unaudited) (USD $)
Sep. 30, 2011
Mar. 31, 2011
ASSETS    
Cash and cash equivalents $ 51,827,747 $ 426,045
Promissory notes receivable 220,875 154,725
Prepaid expenses and other assets, net 67,444 74,041
Restricted cash 36,000,000 0
Current assets from discontinued operations 0 18,270,599
Total current assets 88,116,066 18,925,410
LONG TERM ASSETS    
Other fixed assets, net 272,671 162,488
Convertible notes issue cost 0 738,062
Long term assets from discontinued operations 0 300,708,406
Total long term assets 272,671 301,608,956
TOTAL ASSETS 88,388,737 320,534,366
LIABILITIES AND SHAREHOLDER'S EQUITY    
Accounts payable 293,919 767,489
Accrued coupon payment 0 1,430,108
Taxes payable, accrued liabilities and other payables 0 185,423
Other short-term liabilities 135,024 132,545
Accrued consulting and extraordinary events payments 7,890,938 0
Current liabilities from discontinued operations 0 27,587,087
Total current liabilities 8,319,881 30,102,652
LONG TERM LIABILITIES    
Convertible notes issued, net 0 61,703,728
Deferred taxes 0 3,977,385
Long term liabilities from discontinued operations 0 6,137,742
Total long term liabilities 0 71,818,855
SHAREHOLDERS' EQUITY    
Preferred stock - $0.001 par value; 20,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock - $0.001 par value; 500,000,000 shares authorized, 55,787,554 shares outstanding, respectively 55,788 55,788
Additional paid in capital 164,118,640 164,118,640
Retained earnings (84,105,572) 54,438,431
Total shareholders' equity 80,068,856 218,612,859
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 88,388,737 $ 320,534,366