TROO — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2010-01-22

• We are registered under the laws of the Cayman Islands by way of continuation as an exempted company with limited liability. We are registered in the Cayman Islands because of certain benefits associated with being a Cayman Islands corporation, such as political and economic stability, an effective …

• Substantially all of our assets are located outside the United States. In addition, a majority of our directors and officers are nationals or residents of jurisdictions other than the United States and all or a substantial portion of their assets are located outside the United States. As a result, i…

• We have not appointed any agent to receive service of process with respect to any action brought against us in the United States District Court for the Southern District of New York under the federal securities laws of the United States or of any state in the United States or any action brought agai…

• We believe that there is uncertainty as to whether the courts of the Cayman Islands or the PRC would, respectively, (1) recognize or enforce judgments of United States courts obtained against us or our directors or officers predicated upon the civil liability provisions of the securities laws of the…

Text removed vs the prior filing · source: 10-K · 2009-03-27

• favorable labor rates and efficient, low-cost manufacturing capabilities (for example, according to the Chinese National Bureau of Statistics, the 2006 average annual wage in China is 21,001RMB ($3,072) while the average annual wage in the US is $65,000 (China Statistical Yearbook – 2007, http://www…

Text added vs the prior filing · source: 10-K · 2010-01-22

• The company has entered into a letter of intent with a company for a business combination. The target is a company with its principal business operations in the People’s Republic of China. Pursuant to the Company’s Amended and Restated Memorandum and Articles of Association, the execution of the let…

• Results of Operations for the Six Month Transition Period Ended June 30, 2009

• We incurred a net loss of $87,677 for the six month period ended June 30, 2009 due to both a decrease in the interest earned on the Trust Account which did not exceed our expenses for the period, and an increase in expenses related to professional services. Until we enter into a business combination…

• Overall, for the six month period ended June 30, 2009, we incurred $25,002 of insurance expense from the amortization of our pre-paid D&O insurance policy, $45,000 of rent expense and other operating costs of $114,868.

• For the six months ended June 30, 2009, our trust account earned interest of $97,193 and our funds outside of the trust account did not earn interest income.

Text removed vs the prior filing · source: 10-K · 2009-03-27

• If we do not consummate a business combination by September 12, 2009, but have entered into a letter of intent or definitive agreement with respect to a business combination before such date, we will have until March 12, 2010, in which to consummate a business combination. However if we anticipate t…

• We do not have any long-term debt, capital lease obligations, operating lease obligations, purchase obligations or other long-term liabilities.