RE: Book Value
From 3Q unaudited financal statement:
SHAREHOLDERS’ EQUITY
The retained deficit of $32,279 at September 30, 2012 improved by $1,749 over the retained deficit at December 31, 2011 due to the net income during the period. No dividends were declared or paid in the three and six month periods ended.
The Group maintains a stock option plan for the benefit of officers, directors, key employees and consultants of the Group. The Group had 9,886,000 outstanding options at September 30, 2012. The average exercise price of the outstanding options is $0.17 per share. Of these options, 6,511,000 are currently exercisable at an average exercise price of $0.21 per share.
MARKET CAPITALIZATION
The market capitalization of the Group’s 193,239,608 issued and outstanding common shares at November 28, 2012 was $7,730 or $0.04 per share compared with the Group’s book value of $0.05 per share at September 30, 2012. The issued and outstanding common shares at November 28, 2012, together with securities convertible into common shares are summarized in the table below: