September 3, 2007
Prospector
Profile
07.1239
 
Cardtrend International, Inc. NAICS 522320
800 5th Avenue, Suite 4100 Seattle, WA 98104 Description Financial Processing Services
(206) 447-1379 Employees 10
http://www.cardtrend.com/ Revenue (mil) 0.4170
  Income (mil) -10.3490
  Assets (mil) 2.2230
  Liability (mil) 2.2540
  (for the year ended 2006-12-31)
 
Category: Loss/Deficit
 
Event: Cardtrend International, Inc., formerly known as Asia Payment Systems, Inc., reported a net loss of $351,406 on net revenues of $298,383 for the second quarter ended June 30, 2007, compared with a net loss of $814,537 on net revenues of $10,005 for the same period last year. At June 30, 2007, the Company's consolidated balance sheet showed $7.3 million in total assets, $2.2 million in total liabilities, and $5.1 million in total stockholders' equity. The Company's consolidated balance sheet also showed strained liquidity with $483,123 in total current assets available to pay $1.9 million in total current liabilities.
 
Intellectual Property: During the first quarter of 2004, the Company completed the acquisition of all the assets, business plan, client agreements and intellectual property in a payment services business through the acquisition of WelWay Development Limited. The Company values this intellectual property at $491,667 at December 31, 2006. [SEC Filing 10-KSB 05-18-07]
 
Description: The Company provides credit card transaction processing services in China and other markets in Asia.
 
Officers: Robert G. Clarke (Chair); King K. Ng (Pres., CEO & Dir.); Charlie Rodriguez (Sec., Treas. & Dir.); Kok Keng Low (Chief Technology Officer & Dir.); Jee Sam Choo (Dir.); Michael Oliver (Dir.); Rosaline Tam (Dir.)
 
Auditor: RBSM LLP
 
Securities: Common Stock-Symbol CDTR.PK; Other OTC; 49,957,836 common shares outstanding as of August 17, 2007.
 
 
 
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