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Aoxin Tianli Group, Inc. Reports Second Quarter 2014 Financial Results

WUHAN, China, Aug. 13, 2014 /PRNewswire/ -- Aoxin Tianli Group, Inc. (NASDAQ: ABAC) ("Aoxin Tianli" or the "Company"), a diversified company with businesses in hog farming and electro-hydraulic servo-valves manufacturing and marketing, today announced its financial results for the second quarter ended June 30, 2014.

Mr. Ping Wang, Chairman and Chief Executive Officer of Aoxin Tianli Group, Inc., commented, "Despite continued weakness in market demand for our regular breeder and market hogs, strong sales of black hogs and black hog specialty pork products continued to drive double-digit top-line growth for us, with revenue growing 18% year-over-year in the second quarter. Our gross margin also improved to 7.7% for the second quarter, from negative 4.0% in the prior year, benefitting from lower feed costs as well as a more favorable product mix."

Mr. Wang continued, "2014 is a transformational year for Aoxin Tianli as the recent changes to our corporate name and ticker symbol highlight our newly adopted strategy to transform the Company from a single revenue stream – hog farming to a well-diversified company through targeted investments and acquisitions in selected high-growth industries such as equipment manufacturing, optoelectronics, new materials & new energy products, electromechanics and healthcare devices. Last month, we successfully acquired an 88% equity interest in Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd. ("Hang-ao"), allowing us to tap into the underdeveloped domestic Servo-valve market which is poised to benefit from favorable national industrial policies and increasing domestic brand market penetration."

"Looking forward, with our much improved cash position following our recent private placements, we are excited about the prospects of our business and will actively pursue investment and acquisition targets to further diversify into high growth and profitable segments. We want to thank our shareholders, many of whom have been with us since our IPO in 2010 for their continuing support. We are confident that our new strategy and execution capabilities will allow us to deliver significant long-term returns for our shareholders." Mr. Wang concluded.

Second Quarter 2014 Financial Results:


For the Three Months Ended June 30,

($ thousands, except per share data)

2014


2013


% Change

Revenue

$              8,075


$             6,844


18.0%

Gross margin

7.7%


-4.0%


NM

Operating margin

-4.1%


-14.4%


NM

Net income (loss) for common shareholders

560


(1,005)


NM

Diluted earnings per share

0.03


(0.09)


NM

Revenue for the second quarter of 2014 increased $1.23 million, or approximately 18%, to $8.07 million from $6.84 million for the same period of 2013. This increase was primarily attributable to sales of black hogs raised by farmers participating in our black hog program as well as revenue contributed from our retail sales of specialty black hog products which resumed in April 2013, partially offset by decreased sales of our regular breeder and market hogs due to the shutdown of our 8th farm. The Company sold a total of 40,306 regular breeder hogs, regular market hogs and black hogs with a blended average selling price of $196 per hog during the second quarter of 2014, compared to 36,249 hogs sold and a blended average selling price of $187 per hog for the same period of 2013. Revenue for the second quarter of 2014 from regular breeder hog sales decreased by 11% to $1.74 million with the number of regular breeder hogs sold decreasing 10% to 6,938 hogs and the average selling price of regular breeder hogs decreasing 1% to $251 per hog. . Revenue for the second quarter of 2014 from regular market hog sales decreased 8% to $3.40 million as the number of regular market hogs sold declined 10% to 20,213 hogs and the average selling price of regular market hogs increased 2% to $168 per hog.

For the second quarter of 2014, we generated $2.93 million in revenue through the sale of black hogs and black hog specialty pork products, compared to $1.20 million for the same period of last year. We sold 13,155 black hogs as breeder and market hogs with an average selling price of $209 per hog, generating revenue of $2.75 million for the second quarter of 2014. This compares to 6,083 black hogs sold as breeder and market hogs with an average selling price of $189 per hog, generating revenue of $1.15 million for the same period of last year. We also sold 39,568 kilograms of our specialty black hog products through retail that generated $0.18 million in revenue during the second quarter of 2014, compared to 11,656 kilograms of specialty black hog products sold through retail that generated $0.05 million in revenue during the same period of last year.Our black hog specialty pork product portfolio includes fresh pork meat sold to supermarkets and meat shops, and various vacuumed pork meats sold in gift boxes or portable thermo coolers.


For the Three Months Ended June 30,


2014


2013


No. of Hogs

Sold


Average

Price/Hog ($)


Sales

($ thousands)


No. of Hogs
Sold


Average

Price/Hog ($)


Sales

($ thousands)

Breeder hogs- regular hogs

6,938


$             251


$            1,742


7,718


$              253


$           1,956

Market hogs- regular hogs

20,213


168


3,401


22,448


164


3,687

Market hogs- black hogs

13,155


209


2,750


6,083


189


1,149

Total

40,306


196


7,893


36,249


187


6,792


















Kilograms


Average

Price/kg ($)


Sales

($ thousands)


Kilograms


Average

Price/kg ($)


Sales

($ thousands)

Market hogs- specialty black hog pork products

39,568


$                 5


$               182


11,656


$                   4


$                 52

Cost of goods sold increased $0.33 million, or 5%, to $7.45 million for the second quarter of 2014. Cost of goods sold related to the hog farming segment was $7.28 million for the second quarter of 2014, as compared to $7.07 million for the same period of 2013. Cost of goods sold for the retail segment was $0.18 million for the second quarter of 2014, as compared to $0.05 million for the same period of 2013. Gross profit for the second quarter of 2014 was $0.62 million, compared to gross loss of $0.28 million for the same period of last year. Gross margin for the second quarter of 2014 was 7.7%, compared to gross loss margin of 4.0% for the same period of 2013. The improvement in gross profit and gross margin reflected the impact of lower feed costs. For example, the price of corn dropped 7%, or RMB 0.20 per kilogram comparing the second quarter of 2014 and 2013. The gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 34%, -3%, 5% and 3% respectively, for the second quarter of 2014. As a comparison, gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 24%, -18%, -5%, and -1%, respectively, for the same period of last year.

Selling, general and administrative expenses increased $0.24 million, or 34%, to $0.95 million for the second quarter of 2014. The increase was primarily due to an additional amortization cost of $0.05 million for the acquired distribution network as a result of the repurchase of a 40% non-controlling interest in Tianzhili, $0.10 million in higher payroll expenses for the retail segment, as well as higher depreciation cost for our black hog facilities.

Net Income for the second quarter of 2014 was $0.56 million, which reflected $0.99 million relocation compensation received from the local government for the shutdown of Farm 8. This compares to net loss of $1.14 million for the same period of 2013. After allocating net income attributable to non-controlling interest, net income attributable to common shareholders for the second quarter of 2014 was $0.56 million, or $0.03 per diluted share. This compared to net loss attributable to common shareholders of $1.00 million, or net loss of $0.09 per diluted share, for the second quarter of 2013. 

Six Months Ended June 30, 2014 Financial Results:    

Revenue for the six months ended June 30, 2014 increased $3.53 million, or approximately 25%, to $17.76 million from $14.23 million for the same period of 2013. This increase was primarily attributable to sales of black hogs raised by farmers participating in our black hog program as well as revenue contributed from our retail sales of specialty black hog products which resumed in April 2013. The Company sold a total of 81,658 regular breeder hogs, regular market hogs and black hogs with a blended average selling price of $210 per hog during the six months ended June 30, 2014, compared to 68,762 hogs sold and a blended average selling price of $206 per hog for the same period of 2013. Revenue for the six months ended June 30, 2014 from regular breeder hog sales decreased by 9% to $3.73 million with the number of regular breeder hogs sold decreasing 9% to 14,007 hogs and the average selling price of regular breeder hogs increasing slightly to $266 per hog. Revenue for the six months ended June 30, 2014 from regular market hog sales decreased 3% to $7.98 million as the number of regular market hogs sold declined 3% to 42,796 hogs and the average selling price of regular market hogs was unchanged at $186 per hog. The decline in regular breeder hogs sold and market hogs sold is due to the shutdown of our 8thfarm.

For the six months ended June 30, 2014, we generated $6.05 million in revenue through the sale of black hogs and black hog specialty pork products, compared to $1.91 million for the same period of last year. We sold 24,855 black hogs as breeder and market hogs with an average selling price of $218 per hog, generating revenue of $5.42 million for the six months ended June 30, 2014. This compares to 9,184 black hogs sold as breeder and market hogs with average selling price of $202 per hog, generating revenue of $1.86 million for the same period of last year. We also sold 129,052 kilograms of our specialty black hog products through retail that generated $0.63 million in revenue during the six months ended June 30, 2014, compared to 11,656 kilograms of specialty black hog products sold through retail that generated $0.05 million in revenue during the same period of last year. Our black hog specialty pork product portfolio includes fresh pork meat sold to supermarkets and meat shops, various vacuumed pork meats sold in gift boxes or portable thermo coolers.


For the Six Months Ended June 30,


2014


2013


No. of Hogs

Sold


Average

Price/Hog ($)


Sales

($ thousands)


No. of Hogs

Sold


Average

Price/Hog ($)


Sales

($ thousands)

Breeder hogs- regular hogs

14,007


$              266


$             3,731


15,408


$               265


$             4,086

Market hogs- regular hogs

42,796


186


7,981


44,170


186


8,234

Market hogs- black hogs

24,855


218


5,420


9,184


202


1,859

Total

81,658


210


17,132


68,762


206


14,179


















Kilograms


Average

Price/kg ($)


Sales

($ thousands)


Kilograms


Average

Price/kg ($)


Sales

($ thousands)

Market hogs- specialty black hog pork products

129,052


$                  5


$                630


11,656


$                   4


$                 52

Cost of goods sold increased $2.01 million, or 15%, to $15.71 million for the six months ended June 30, 2014. Cost of goods sold related to the hog farming segment was $15.29 million for the six months ended June 30, 2014 as compared to $13.65 million for the same period of 2013. Cost of goods sold for the retail segment was $0.42 million for the six months ended June 30, 2014, as compared to $0.05 million for the same period of 2013.Overall gross profit for the six months ended June 30, 2014 was $2.05 million, compared to $0.53 million for the same period of last year. Gross margin for the six months ended June 30, 2014 was 11.7%, compared to 3.7% for the same period of 2013. This increase in gross profit and gross margin was mainly due to reductions in feed costs. The gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 35%, 2%, 7% and 33% respectively, for the six months ended June 30, 2014. As a comparison, gross margins for regular breeder hogs, regular market hogs, black hogs, and retail sales were 27%, -6%, -3%, and -1%, respectively, for the same period of last year.

Selling, general and administrative expenses increased $0.36 million, or 22%, to $2.01 million for the six months ended June 30, 2014. The increase was primarily due to additional amortization cost of $0.05 million for the acquired distribution network as a result of the repurchase of a 40% non-controlling interest in Tianzhili and $0.31 million in higher payroll expenses associated with the retail segment and our black hog program.

Net Income for the six months ended June 30, 2014 was $0.83 million, which reflected $0.99 million relocation compensation received from the local government for the shutdown of Farm 8. This compares to a net loss of $1.32 million for the same period of 2013. After allocating net income attributable to non-controlling interest, net income attributable to common shareholders for the six months ended June 30, 2014 was $0.96 million, or $0.06 per diluted share. This compared to net loss attributable to common shareholders of $1.11 million, or net loss of $0.10 per diluted share, for the six months ended June 30, 2013. 

Financial Position  

As of June 30, 2014, the Company had cash and cash equivalents of $31.12 million, compared to $10.09 million at the end of 2013. Working capital as of June 30, 2014 was $32.11 million as compared to $14.95 million at December 31, 2013. Net cash provided by operating activities was $5.79 million for the six months ended June 30, 2014, compared to net cash used in operating activities of $0.21 million for the six months ended June 30, 2013.

Recent Developments 

On July 28, 2014, the Company announced change of its name to "Aoxin Tianli Group, Inc." In connection with the name change, the Company's common shares started trading on the NASDAQ Capital Market under the new ticker symbol "ABAC" (NASDAQ:ABAC), effective July 29, 2014.

On July 17, 2014, the Company announced a strategic development plan (the "Strategic Development Plan") to transform the Company into a higher growth, more profitable business through targeted investments and acquisitions in selected high-growth industries such as equipment manufacturing, optoelectronics, new materials & new energy products, electromechanics and healthcare devices.  In connection with the Strategic Development Plan, the Company also announced the acquisition of an 88% equity interest in Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd. ("Hang-ao") for cash consideration of RMB 42 million (approximately US$6.8 million) paid to two individuals  who collectively owned 60% of the equity in Hang-ao and 1,047,000 shares of the Company's common stock (the "Share Consideration") issued to certain management shareholders who transferred to Tianli 28% of the equity in Hang-ao. Vesting of the Share Consideration is contingent upon Hang-ao achieving certain agreed upon net profit targets. Specifically, the entire Share Consideration will only vest in the management stockholders if Hang-ao achieves net profits of RMB 4.5 million, RMB 9.0 million, and RMB 15.0 million for the years ending December 31, 2014, 2015, and 2016, respectively. As a result of the completion of the transaction, Hang-ao became an 88% owned subsidiary of the Company's WFOE subsidiary, Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd.

On June 18, 2014, the Company announced the completion of a $3.84 million private placement of its common stock to Mr. Houliang Yu, who is a citizen of the PRC and Chief Financial Officer of Aoxin Holdings Co. Ltd. Pursuant to a Regulation S Subscription Agreement entered into on June 6, 2014, the Company issued and sold 1.6 million shares of its common stock to Mr. Yu for an aggregate consideration of $3.84 million, or $2.40 per share. The offering price represents an approximately 11.6% premium over the closing price of $2.15 on June 6, 2014. Upon completion of the Offering, the Company had 21,164,000 common shares outstanding, of which Mr. Yu owns approximately 7.56%. The Company intends to use the proceeds from this Offering and cash on hand to pursue accretive M&A opportunities.

On June 6, 2014, the Company's WFOE subsidiary, Wuhan Fengxin Agricultural Science and Technology Development Co., Ltd. ("WFOE") changed its name to "Wuhan Aoxin Tianli Enterprise Investment Management Co., Ltd."  On June 20, 2014, with the approval of the Wuhan Municipal Commission of Commerce, Wuhan Fengze Agricultural Science and Technology Development Co., Ltd., formerly controlled by the Company as a Variable Interest Entity ("VIE") for its hog farming business, became a wholly owned subsidiary of WFOE.    

On April 18, 2014, the Company announced that its VIE subsidiary, Wuhan Fengze Agricultural Science and Technology Development Co., Ltd. ("Fengze"), executed an acquisition agreement (the "Equity Transfer Agreement") with Xiamen Ruijin Fund LLP ("XMRJ") that allowed Fengze to regain full control of Hubei Tianzhili Breeder Hog Co., Ltd. ("Tianzhili"). Total consideration for the transaction is RMB 6,666,700, or approximately $1,050,000, which equals the advances received from XMRJ as of April 18, 2014 in connection with XMRJ's acquisition of the 40% equity interest in Tianzhili in November 2012. As a result of the transaction, Tianzhili became a wholly owned subsidiary of Fengze and the Company regained full control of its Black Hog Program in Enshi Prefecture.

On April 11, 2014, the Company announced that it completed a $5.72 million private placement of its common stock to Mr. Ping Wang, the Company's Chairman and CEO. Pursuant to a Subscription Agreement executed on April 10, 2014, the Company issued and sold 2.6 million shares of its common stock to Mr. Wang for $5.72 million, or $2.20 per share. The offering price represents an approximately 20.9% premium over the closing price of $1.82 on April 9, 2014. As a condition of the purchase, Mr. Wang agreed not to sell the shares for 18 months and thereafter at not less than $2.20 per share.  

Earnings Conference Call

AoxinTianli will host an earnings conference call andlive webcast covering its second quarter 2014 financial results at 8:00 a.m. EDT on August 14, 2014, which is also 8:00 p.m. in Beijing on August 14, 2014. To attend the call, please use the information below for either dial-in access or webcast access. When prompted on dial-in, ask for "AoxinTianli / ABAC".

Conference Call



Date:

Thursday, August 14, 2014


Time:

8:00 am EDT, U.S.


U.S. Dial-in:

+1 877-317-6789


International Dial-in:

+1 412-317-6789


Conference ID:

AoxinTianli / ABAC


Webcast Link:

http://services.choruscall.com/links/abac140814.html


For those unable to participate, an audio replay of the call will be available beginning approximately one hour after the end of the live call through August 29, 2014. The audio replay can be accessed by dialing +1-877-344-7529 within the United States or +1-412-317-0088 internationally, and entering access ID No. 10051168.

About Aoxin Tianli Group, Inc.

AoxinTianli Group, Inc. (the "Company"), previously known as Tianli Agritech, Inc., is a diversified company with businesses in hog farming and electro-hydraulic servo-valves manufacturing and marketing. Through its wholly owned subsidiary, Wuhan Fengze Agricultural Science and Technology Development Co., Ltd., the Company engages in breeding, raising and selling breeder and market hogs in China and is developing a distribution channel for its pork products including high-value, black hog meat. Through its 88% owned subsidiary, Hubei Hang-ao Servo-valve Manufacturing Technology Co., Ltd., the Company also manufactures and markets electro-hydraulic servo-valves and related servo systems and components targeting a wide range of industrial machinery applications such as metallurgy, aerospace, construction & mining, thermal power, petrochemical and defense.

Forward-Looking Statements

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts.  These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

For more information, please contact:

Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: [email protected]  

 

AOXIN TIANLI GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS








June 30,


December 31,



2014


2013



(Unaudited)



ASSETS





Current Assets:





Cash and cash equivalents

$

31,119,512

$

10,087,694

Accounts receivable, net


148,169


256,607

Inventories


9,570,321


11,484,786

Advances to suppliers


1,326,771


1,612,492

Prepaid expenses


82,386


204,106

Restricted cash


-


-

Other receivables, net


365,621


1,181,078

 Total Current Assets


42,612,780


24,826,763






Long-term prepaid expenses, net


1,637,082


1,606,188

Plant and equipment, net


21,891,090


23,185,732

Construction in progress


50,527


50,897

Biological assets, net


2,527,963


3,276,840

Intangible assets, net


3,322,248


1,480,631






Total Assets

$

72,041,690

$

54,427,051






LIABILITIES AND STOCKHOLDERS' EQUITY










Current Liabilities:





Short-term loans

$

7,180,920

$

6,382,561

Accounts payable and accrued payables


104,493


48,896

Other payables


3,153,447


3,309,246

Due to related party


59,715


139,430

Total Current Liabilities


10,498,575


9,880,133






Stockholders' Equity:





Common stock ($0.001 par value, 50,000,000 shares authorized,





21,164,000 and 13,964,000 shares issued and outstanding as of





June 30, 2014 and December 31, 2013, respectively)


21,164


13,964

Additional paid in capital


34,780,629


18,094,200

Statutory surplus reserves


2,416,647


2,416,647

Retained earnings


20,495,896


19,538,507

Accumulated other comprehensive income


3,828,779


4,046,055

Stockholders' Equity - Aoxin Tianli Group, Inc. and Subsidiaries


61,543,115


44,109,373

Noncontrolling interest


-


437,545

Total Stockholders' Equity


61,543,115


44,546,918

Total Liabilities and Stockholders' Equity

$

72,041,690

$

54,427,051

 

AOXIN TIANLI GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(UNAUDITED)












For the Three Months Ended June 30,


For the Six Months Ended June 30,



2014


2013


2014


2013



















Sales

$

8,074,894

$

6,843,808

$

17,761,223

$

14,230,342

Cost of goods sold


7,453,933


7,120,087


15,708,444


13,701,320

Gross profit (loss)


620,961


(276,279)


2,052,779


529,022










Operating expenses:









General and administrative expenses


844,398


627,085


1,617,809


1,529,583

Selling expenses


107,731


84,208


390,498


120,250

Total operating expenses


952,129


711,293


2,008,307


1,649,833










Income (loss) from operations


(331,168)


(987,572)


44,472


(1,120,811)










Other income (expense):









Interest expense


(139,139)


(162,981)


(228,815)


(329,798)

Subsidy income


19,545


(251)


19,545


95,338

Relocation compensation from Farm 8 shutdown


988,021


-


988,021


-

Other income (expense)


22,388


14,235


7,149


40,139

Total other income (expense)


890,815


(148,997)


785,900


(194,321)










Income (loss) before income taxes


559,647


(1,136,569)


830,372


(1,315,132)










Income taxes


-


-


-


-

Net income (loss)


559,647


(1,136,569)


830,372


(1,315,132)

Net loss attributable to noncontrolling interest


-


131,894


127,017


200,389

Net income (loss) attributable to Aoxin Tianli Group, Inc.

common stockholders


559,647


(1,004,675)


957,389


(1,114,743)










Other comprehensive income:









Unrealized foreign currency translation adjustment


127,876


352,240


(237,492)


604,805










Comprehensive income

$

687,523

$

(652,435)

$

719,897

$

(509,938)










Earnings (losses) per share attributable to Aoxin Tianli

Group, Inc. common stockholders - basic and diluted: 









Weighted-average shares outstanding, basic and diluted


19,664,000


11,194,000


16,814,000


11,194,000










Continuing operations - Basic & diluted

$

0.03

$

(0.09)

$

0.06

$

(0.10)

 

AOXIN TIANLI GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)








For the Six Months Ended June 30,



2014


2013











 CASH FLOWS FROM OPERATING ACTIVITIES 





 Net income (loss) 

$

830,372

$

(1,315,132)

 Adjustments to reconcile net income (loss) to net cash 





   provided by operating activities: 





 Depreciation and amortization 


1,746,285


1,610,107

 Amortization of prepaid expenses 


217,251


191,998

 Bad debt expense 


28,955


-

 Changes in operating assets and liabilities: 





 Accounts receivable 


77,884


(125,409)

 Inventories 


1,835,497


(467,287)

 Advances to suppliers 


274,677


(793,522)

 Prepaid expenses 


(50,702)


-

 Other receivables 


808,897


(5,237)

 Long-term prepaid expenses 


(87,952)


-

 Accounts payable and accrued payables 


56,093


(51,980)

 Other payables 


57,617


746,388

 Total adjustments 


4,964,502


1,105,058

 Net cash provided by (used in) operating activities     


5,794,874


(210,074)






 CASH FLOWS FROM INVESTING ACTIVITIES 





 Cash paid for purchase of noncontrolling interest 


(1,083,100)


-

 Purchase of biological assets 


-


(435,544)

 Purchase of plant and equipment 


(6,271)


(476,301)

 Net cash used in investing activities 


(1,089,371)


(911,845)






 CASH FLOWS FROM FINANCING ACTIVITIES 





 Increase at restricted cash 


-


(317,793)

 Proceeds from capital contribution 


15,560,000


-

 Advance from due to related party 


(79,128)


76,270

 Repayment of short-term loans 


(781,797)


(762,704)

 Proceeds from short-term loans 


1,628,744


762,704

 Net cash provided by financing activities       


16,327,819


(241,523)






 EFFECT OF EXCHANGE RATE CHANGES ON CASH 


(1,504)


127,457






 NET INCREASE (DECREASE) IN CASH 


21,031,818


(1,235,985)






 CASH, BEGINNING OF PERIOD 


10,087,694


7,477,205






 CASH, END OF PERIOD 

$

31,119,512

$

6,241,220






 SUPPLEMENTAL DISCLOSURES: 





 Cash paid during the period for: 





 Interest paid 

$

307,690

$

244,782

 Income tax paid 

$

-

$

-

 

SOURCE Aoxin Tianli Group, Inc.

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The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and containers together help companies achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of Dev...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it m...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus o...
Big Data engines are powering a lot of service businesses right now. Data is collected from users from wearable technologies, web behaviors, purchase behavior as well as several arbitrary data points we’d never think of. The demand for faster and bigger engines to crunch and serve up the data to services is growing exponentially. You see a LOT of correlation between “Cloud” and “Big Data” but on Big Data and “Hybrid,” where hybrid hosting is the sanest approach to the Big Data Infrastructure pro...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.