Asia Global Holdings Corporation Posts Third Quarter Revenues of $2,017,736 Up 394% From Third Quarter 2005
Tuesday November 21, 4:20 pm ET
LOS ANGELES, Nov. 21 /PRNewswire-FirstCall/ -- Asia Global Holdings Corporation (OTC Bulletin Board: AAGH - News) announced its financial results for the third quarter ended September 30, 2006 including quarterly revenue of $2,017,736, a 394% gain compared to $408,222 in revenues for the third quarter ended September 30, 2005.
The Company's profit before provision for income tax in the three months ended 30 September 2006 was $1,022,005.64. Fees in the sum of $1,643,750 paid in common stock, not cash, in the 3rd quarter offset the above-mentioned normal business operation results and brought about a net loss of $693,643 for the three months ended 30 September 2006. The fees were settled in the form of issuance of common stock resulting in no effect to the cash flow in the period.
The Company attributes its positive increase in profits from normal business operations to increased sales and profits in its media & advertising segment in China and Hong Kong, and tightly controlled expenses.
In the second quarter of this year the Company posted revenue and income growth with revenue and profits up 83% and 370% respectively over its 2005 second quarter.
Management has stated that it intends to continue its efforts to build Asia Global Holdings Corp. into an advertising, media, marketing and entertainment powerhouse in the booming China markets.
naja die Q3 wurde etwas verschönert :o),laut 10.11.06
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