v2.4.0.6

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2013	Dec. 31, 2012
ASSETS
Cash and equivalents	$ 192,000	$ 202,000
Accounts receivable	218,000	305,000
Inventory	425,000	315,000
Prepaid expenses	33,000	32,000
Related party receivables	196,000	166,000
Other current assets	35,000	13,000
TOTAL CURRENT ASSETS	1,099,000	1,033,000
Fixed assets, net	1,067,000	1,082,000
OTHER ASSETS:
Land use right, net	619,000	627,000
License to Grass, net	395,000	402,000
Goodwill	602,000	602,000
Related party receivables	1,261,000	1,261,000
Other assets	897,000	465,000
TOTAL OTHER ASSETS	3,774,000	3,357,000
TOTAL ASSETS	5,940,000	5,472,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	408,000	295,000
Related party payables	29,000	32,000
Accrued expenses	180,000	181,000
TOTAL CURRENT LIABILITIES	617,000	508,000
COMMITMENTS AND CONTINGENCIES (Note 11)
STOCKHOLDERS' EQUITY:
Common stock, $0.001 par value, 50,000,000 shares authorized, 10,480,400 issued and outstanding in 2013 and 2012	10,000	10,000
Additional paid in capital	17,983,000	17,983,000
Accumulated comprehensive income	432,000	0
Accumulated deficit	(13,102,000)	(13,029,000)
Total stockholders' equity	5,323,000	4,964,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 5,940,000	$ 5,472,000

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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