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Some important info about the new business plan to open Super-brand and direct sales stores in rural areas of the Shannxi Province (the plan seems to be taking off now): Sales for the three months ended September 30, 2010 totaled $3,530,563, an increase of $2,913,106, or 471%, as compared to sales of $617,457 for the three months ended September 30, 2009. Sales of our internally made products increased $1,183,386 to $1,800,843 for the three months ended September 30, 2010 from $617,457 for the comparable period in 2009. Retail sales of fertilizer products in our direct sale stores was $2,272,144 for the three months ended September 30, 2010, compared to $0 in the comparable period of 2009. We believe that the increase in sales was primarily attributable to our “New Agriculture-Generator” campaign, which was designed to expand our distribution network and to establish a closer relationship with farmers through agricultural cooperatives in the rural areas of China. Sales from our direct sales stores amounted to $2,272,144, approximately 64% of total sales in the three months ended September 30, 2010. Sales from our super chain branded stores amounted to $272,963, approximately 8% of total sales in the three months ended September 30, 2010, an increase of $95,643, or 54%, as compared to $177,320 in the same period of 2009. Sales from our traditional sales network amounted to $985,456, an increase of $545,319, or 123%, as compared to $440,137 in the three months ended September 30, 2009. As of September 30, 2010, the Company has 400 direct sales stores which are controlled and managed directly by the Company, and approximately 100 super chain branded stores. The majority of these direct sales stores and branded stores were located in the Shannxi Province (local province) and some of these stores were located in the Hunan and Sichuan Provinces. Last Report (3Q) Net Income: For 3 months ended: Sept 09, Sept 10 $251,568, $899,734 For 9 months ended: Sept 09, Sept 10 $612,185, $1,992,263 Sales for the three months ended September 30, 2010 totaled $3,530,563, an increase of $2,913,106, or 471%, as compared to sales of $617,457 for the three months ended September 30, 2009. Sales of our internally made products increased $1,183,386 to $1,800,843 for the three months ended September 30, 2010 from $617,457 for the comparable period in 2009. Retail sales of fertilizer products in our direct sale stores was $2,272,144 for the three months ended September 30, 2010, compared to $0 in the comparable period of 2009. We believe that the increase in sales was primarily attributable to our “New Agriculture-Generator” campaign, which was designed to expand our distribution network and to establish a closer relationship with farmers through agricultural cooperatives in the rural areas of China. Sales from our direct sales stores amounted to $2,272,144, approximately 64% of total sales in the three months ended September 30, 2010. Sales from our super chain branded stores amounted to $272,963, approximately 8% of total sales in the three months ended September 30, 2010, an increase of $95,643, or 54%, as compared to $177,320 in the same period of 2009. Sales from our traditional sales network amounted to $985,456, an increase of $545,319, or 123%, as compared to $440,137 in the three months ended September 30, 2009. As of September 30, 2010, the Company has 400 direct sales stores which are controlled and managed directly by the Company, and approximately 100 super chain branded stores. The majority of these direct sales stores and branded stores were located in the Shannxi Province (local province) and some of these stores were located in the Hunan and Sichuan Provinces. Recent Quarterly Report (3Q, 2010): ih.advfn.com About China Agri-Business, Inc. China Agri-Business, Inc., through its operating company in China, Shaanxi Xin Sheng Centennial Agriculture and Technology Co., Ltd. manufactures and sells non-toxic fertilizer, bactericide and fungicide products used for farming in China. Crops grown with Xinsheng's products are eligible to qualify for the "AA Green Food" rating administered by the China Green Food Development Center, an agency under the jurisdiction of the Ministry of Agriculture of the People's Republic of China (However, our products themselves do not bear the "AA green food" designation). The green food rating system consists of an "A" rating and a more stringent "AA" rating. The "AA" rating indicates that the crops contain minimal chemical residue from fertilizers. The Company's two primary product groups are organic fertilizer (Xinsheng Luyuan brand) and bactericides (Xinsheng Lufeng brand). The Company has a total of five brands and produces more than 50 different applications, including products designed to stimulate plant growth, condition soil, and prevent and cure plant diseases and parasites. The Company has products for a variety of crops, including potatoes, vegetables, cotton and fruit plants, and orchard trees. The products can be used either alone or to supplement other products. The Company's Xinsheng's manufacturing facilities are located in Xi'an, Shaanxi Province, China. | ||||||||||||||
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