XI'AN, China, Jan. 17, 2014 /PRNewswire-FirstCall/ -- Kingtone
Wirelessinfo Solution Holding Ltd (Nasdaq CM: KONE) ("Kingtone", or
the "Company"), a China-based
developer and provider of mobile enterprise solutions, today
announced financial results for its fiscal year ended September 30, 2013. The financial statements and
other financial information included in this press release are
prepared in conformity with accounting principles generally
accepted in the United States of
America ("U.S. GAAP").
Fiscal Year 2013 Financial Highlights
- Revenues increased by 696.8% to approximately $11.6 million from approximately $1.5 million in the prior year period.
- Gross profit increased by 527.7% to approximately $1 million gross profit from approximately
$0.2 million loss in the prior year
period.
- Gross margin increased to 8.8% from minus 16.4% in the prior
year period.
- Net loss of approximately $5.1
million as compared to net loss of approximately
$9.0 million in the prior year
period.
- Basic and diluted loss per share were $3.65 as compared to loss per share of
$6.40 in the prior year period with
weighted average shares outstanding of 1,405,000 in both
periods.
"We are very glad to see the revenue has grown dramatically
during the fiscal year 2013," said Mr. Peng
Zhang, Chief Executive Officer of the Company, "Thanks for
our investors being patient with our business and capital market
performance and staying with the company during the difficult time
when the company's business didn't do well for the past two years.
In the future we will continue to take measures to improve
our performance and strengthen our business model to achieve
sustainable growth."
Fiscal Year 2013 Financial Performance
Results of Operations - The year ended September 30, 2013 compared to the year ended
September 30, 2012.
Revenues.
For the year ended September 30,
2013, our revenues increased by 696.8% to approximately
$11.6 million in the year ended
September 30, 2013 from approximately
$1.5 million in the year ended
September 30, 2012.
Our revenue from software solution sales increased by 5.8% to
approximately $0.29 million in the
year ended September 30, 2013 from
approximately $0.28 million in the
year ended September 30, 2012. As a
percentage of total revenue, software solution sales decreased from
19.0% to 2.5%. Our revenue from wireless system solution sales
increased by 858.4% to approximately $11.3
million in the year ended September
30, 2013 from approximately $1.2
million in the year ended September
30, 2012. As a percentage of total revenue, wireless system
solution revenue increased from 81.0% to 97.5% of our total
revenue. The significant increase in our wireless solution revenue
was mainly due to that we entered into a contract with Hualu
Engineering & Technology Co., Ltd. ("Hualu") to provide
wireless system service to Hualu's coal chemical factory in
Jingbian Energy and Chemical Projects, and Comprehensive
Utilization of Industrial Park in Shaanxi, China ("Jingbian Industrial Park").
Hualu, a state-owned enterprise in China, is dedicated to all round engineering
construction services. Pursuant to the agreement, we will provide
engineering services to Hualu's coal chemical factory in Jingbian
Industrial Park. The services to be performed under this contract
include installation, debugging and initial training the staff
operating the tank, engineering instruments and telecommunications.
It has contributed RMB 63.6 million,
or approximately $10.2 million
revenue to the company during the fiscal year of 2013.
Cost of Sales.
Our cost of sales increased by 524.3% to approximately
$10.5 million in the year ended
September 30, 2013 from approximately
$1.7 million in the year ended
September 30, 2012. The increase in
cost of sales was primarily attributable to the increase in revenue
and gross margin from wireless system solutions business. As a
percentage of our total revenues, our cost of sales decreased to
91.2% of revenues in the year ended September 30, 2013 from 116.4% of our total
revenues in the year ended September 30,
2012.
Cost of sales for software decreased by 11.3% to approximately
$0.5 million in the year ended
September 30, 2013 from approximately
$0.6 million in the year ended
September 30, 2012, representing 5.4%
and 37.9% of our total cost of sales and 2.5% and 19.0% of our
software revenue in the fiscal years ended September 30, 2013 and 2012, respectively. Cost
of sales for wireless system solutions increased by 851.0% to
approximately $10.0 million in the
year ended September 30, 2013 from
approximately $1.0 million in the
year ended September 30, 2012,
representing 94.6% and 62.1% of total cost of sales and 97.5% and
81.0% of wireless system solution revenues in the fiscal years
ended September 2013 and 2012,
respectively. The increased percentage of cost of sales to wireless
system solution revenues from September 30,
2012 to September 30, 2013 was
due to the increase of corresponding revenue from September 30, 2012 to September 30, 2013.
Gross Profit and Gross Margin. Total gross profit
increased by 527.7% to approximately $1
million gross profit in the year ended September 30, 2013 from approximately
$0.2 million loss in the year ended
September 30, 2012. Our total gross
margin was 8.8% and minus 16.4% in the years ended September 30, 2013 and 2012, respectively. This
increase of gross profit and gross margin was primarily due to the
increase of sales from wireless system solution, which resulted in
the overall increase in industry profit and profit margin.
Our gross profit for software solution sales increased by 24.1%
to approximately $0.3 million loss in
the year ended September 30, 2013
from approximately $0.4 million loss
in the year ended September 30, 2012.
Our gross margin for software solutions sales increased to minus
95.2% in the year ended September 30,
2013 from minus 132.7% in the year ended September 30, 2012. Our gross profit for
wireless system solution sales increased by 919.7% to approximately
$1.3 million in the year ended
September 30, 2013 from approximately
$0.1 million in the year ended
September 30, 2012. Our gross margin
for wireless system solution sales increased to 11.5% in the year
ended September 30,2013 from 10.8% in
the year ended September 30,
2012.
Loss from Operations
We incurred a loss of $2.6 million
in the year ended September 30, 2013,
a 72.4% or $6.8 million decrease in
such a loss from approximately loss of $9.4
million in the year ended September
30, 2012. The decrease in loss from operations was mainly
due to significantly higher revenues from wireless system solutions
business compounded by decreased operating expenses.
Other Income (Expense)
Our other expense increased 2060.0% to approximately
$1.2 million in fiscal year 2013 from
approximately $0.06 million of other
income in fiscal year 2012, and represented 10.2% and 4.1% of our
revenue for the years ended September 30,
2013 and 2012, respectively. The increase in our other
expense was largely due to that we confirmed the loss from loan to
an unrelated third party. As a U.S. listed company, the Company is
in need of US dollar to cover oversea expenses. Since State
Administration of Foreign Exchange in China imposes restrictions on the remittance
of currency out of China, Topsky
Info-tech Holdings Pte Ltd, the Company's wholly owned subsidiary
in Singapore ("Topsky") and Xi'an
Kingtone Information Technology Co., Ltd., the Company's variable
interest entity in China
("Kingtone Information") entered into a loan and guarantee
agreement on July 21, 2011 with an
unrelated third party to have Topsky borrow US$3 million to cover oversea expenses and take
RMB27.9 million, or US$4.2 million from Kingtone Information as a
guarantee. The offset amount US$1.2
million was presented as long-term other receivables in the
anticipation that the agreement would be settled in two
years. The loan matured on July 21,
2013 and the long-term receivable was non-collectable.
As a result, we had written off the balance of the long-term
receivable and charged to other expense for the year ended
September 30, 2013.
Net Loss
We incurred a net loss of $5.1
million in the year ended September
30, 2013 as compared to net loss of approximately
$9.0 million in the year ended
September 30, 2012, representing a
decrease of 42.9%. Basic and diluted loss per share was
$3.65 in the year ended September 30, 2013, compared to loss per share
$6.40 in the prior year period. The
number of weighted average ordinary shares outstanding was
1,405,000 for the years ended September 30,
2013 and 2012, respectively.
Liquidity and Capital Resources.
Cash and Cash Equivalents. As of September 30, 2013, the Company had cash and cash
equivalents of $6.1 million, compared
to $6.4 million in the prior year
period.
Net cash provided by operating activities was approximately
minus $0.4 million for the year ended
September 30, 2013 as compared to
$2.4 million net cash used in
operating activities for the year ended September 30, 2012. During the fiscal year
2013, the Company had a net loss of $5.1
million, out of which $0.6
million was depreciation and amortization and $0.5 million was bad debt expense. In addition,
the Company had net investment in sales-type leases of $1.4 million, increased accounts and notes
receivable by $1.7 million and
increased unbilled revenue by $5.4
million.
Net cash provided by investing activities for the year ended
September 30, 2013 was approximately
$7 thousand as compared to net cash
used in investing activities of approximately $0.1 million for the year ended September 30, 2012. The cash provided by
investing activities in 2013 was mainly due to disposal of property
and equipment and the cash used in investing activities in fiscal
year 2013 and 2012 were mainly attributable to purchasing property
and equipment.
Net cash used in financing activities for the year ended
September 30, 2013 was approximately
$1 thousand as compared to net cash
provided by financing activities of approximately $9 thousand for the year ended September 30, 2012.
Financial Outlook.
For the fiscal year ending September 30,
2014, management expects revenues of $12.0 million to $15.0 million and net income of
$0.5 million to $1 million.
Conference Call
The Company will host a conference call to discuss its fiscal
year 2013 financial results at 8:00 a.m.
ET on Friday, January 17,
2014. Mr. Tao Li, Chairman, Mr. Peng
Zhang, Chief Executive Officer, Ms. Li Wu, Chief Financial Officer and Ms.
Yao Ti, Assistant to the Chief
Financial Officer, will be on the call.
To participate in the conference call, please dial any of the
following numbers:
USA Toll
Free:
|
877-407-9205
|
International:
|
201-689-8054
|
Conference
|
ID #:
13574620
|
A replay of the call will be available until 11:59 PM ET on Jan. 19,
2014.
To access the replay, please dial any of the following
numbers:
USA Toll
Free:
|
877-660-6853
|
International:
|
201-612-7415
|
The conference call will be webcast live by Vcall and can be
accessed at
http://www.investorcalendar.com/IC/CEPage.asp?ID=172130
About Kingtone Wirelessinfo Solution Holding Ltd
Kingtone Wirelessinfo Solution Holding Ltd (Nasdaq CM:
KONE - News) is a China-based software and solutions
developer focused on wirelessly enabling businesses and government
agencies to more efficiently manage their operations. The Company's
products, known as mobile enterprise solutions, extend a company's
or enterprise's information technology systems to include mobile
participants. The Company develops and implements mobile enterprise
solutions for customers in a broad variety of sectors and
industries, to improve efficiencies by enabling information
management in wireless environments. At the core of its many
diverse packaged solutions is proprietary middleware that enables
wireless interactivity across many protocols, devices and
platforms.
For more information, please visit Kingtone's website at
http: www.kingtoneinfo.com. The Company routinely posts
important information on its website.
Safe Harbor Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, including certain plans, expectations, goals, and
projections, which are subject to numerous assumptions, risks, and
uncertainties. These forward-looking statements may include, but
are not limited to, statements containing words such as "may,"
"could," "would," "plan," "anticipate," "believe," "estimate,"
"predict," "potential," "expects," "intends", "future" and
"guidance" or similar expressions. These forward-looking statements
speak only as of the date of this press release and are subject to
change at any time. These forward-looking statements are based upon
management's current expectations and are subject to a number of
risks, uncertainties and contingencies, many of which are beyond
the Company's control that may cause actual results, levels of
activity, performance or achievements to differ materially from any
future results, levels of activity, performance or achievements
expressed or implied by such forward-looking statements. The
Company's actual results could differ materially from those
contained in the forward-looking statements due to a number of
factors, including those described under the heading "Risk Factors"
in the Company's Annual Report for the fiscal year ended
September 30, 2013 filed with the
Securities and Exchange Commission. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required under applicable law.
For investor and media inquiries, please contact:
Chief Financial Officer Assistant
Yao Ti
Tel: +86-29-8826-6500
Email: tiyao@kingtoneinfo.com
KINGTONE
WIRELESSINFO SOLUTION HOLDING LTD AND SUBSIDIARIES
|
|
CONSOLIDATED
BALANCE SHEETS
|
|
(Express in
thousands of U.S. Dollars, except shares and per share
data)
|
|
|
|
|
|
|
|
|
|
|
|
As of September
30,
|
|
|
|
|
2013
|
|
2012
|
|
ASSETS
|
|
|
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
*
|
Cash and cash
equivalents
|
$
|
6,132
|
$
|
6,439
|
|
*
|
Accounts and Notes
Receivable, net of allowance
|
|
4,496
|
|
3,240
|
|
*
|
Unbilled
revenue
|
|
6,029
|
|
580
|
|
*
|
Due from related
companies
|
|
141
|
|
123
|
|
*
|
Inventories,
net
|
|
688
|
|
628
|
|
*
|
Other receivables and
prepayments
|
|
2,105
|
|
1,772
|
|
*
|
Current portion of
long-term receivables
|
|
-
|
|
1,393
|
|
*
|
Current portion of
net investment in sales-type leases
|
|
-
|
|
1,210
|
|
|
Total Current
Assets
|
|
19,591
|
|
15,385
|
|
|
|
|
|
|
|
|
Non-current
assets
|
|
|
|
|
|
*
|
Property and
Equipment, net
|
|
13,358
|
|
13,541
|
|
*
|
Intangible
assets
|
|
632
|
|
633
|
|
*
|
Net investment in
sales-type leases, less current portion
|
|
-
|
|
333
|
|
|
Total
Assets
|
$
|
33,581
|
$
|
29,892
|
|
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
Current
liabilities
|
|
|
|
|
|
*
|
Accounts
payable
|
$
|
1,606
|
$
|
775
|
|
*
|
Advances from
customers
|
|
9,062
|
|
1,528
|
|
*
|
Other payables and
accruals
|
|
111
|
|
167
|
|
*
|
Taxes
payable
|
|
1,545
|
|
1,673
|
|
*
|
Amounts due to
related parties
|
|
2
|
|
2
|
|
*
|
Dividend
payable
|
|
842
|
|
817
|
|
|
Total Current
Liabilities
|
|
13,168
|
|
4,962
|
|
|
|
|
|
|
|
|
Stockholders'
equity
|
|
|
|
|
|
|
Ordinary share ($0.01
par value, 100,000,000 shares authorized, 1,405,000 shares issued
and
outstanding as of September 30, 2013 and 2012,
respectively)
|
|
14
|
|
14
|
|
*
|
Additional paid in
capital
|
|
22,233
|
|
22,233
|
|
*
|
Appropriated retained
earnings
|
|
1,615
|
|
1,615
|
|
*
|
Unappropriated
retained earnings
|
|
(7,648)
|
|
(2,515)
|
|
*
|
Accumulated other
comprehensive income
|
|
4,199
|
|
3,583
|
|
|
Total
Shareholders' Equity
|
|
20,413
|
|
24,930
|
|
|
Total Liabilities
and Shareholders' Equity
|
$
|
33,581
|
$
|
29,892
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
*All of the VIE's
assets can be used to settle obligations of their primary
beneficiary. Liabilities recognized as a result of consolidating
these VIEs do not represent additional claims on the Company's
general assets.
|
|
|
KINGTONE
WIRELESSINFO SOLUTION HOLDING LTD AND SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
|
(Express in
thousands of U.S. Dollars, except shares and per share
data)
|
|
|
|
|
|
For the years
ended September 30,
|
|
|
|
|
2013
|
|
2012
|
|
2011
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
Software
|
$
|
291
|
$
|
275
|
$
|
2,409
|
|
Wireless system
solution
|
|
11,271
|
|
1,176
|
|
3,928
|
|
|
- Related
party
|
|
192
|
|
-
|
|
131
|
|
|
-Third
Party
|
|
11,079
|
|
1,176
|
|
3,797
|
|
Total
revenues
|
|
11,562
|
|
1,451
|
|
6,337
|
|
|
|
|
|
|
|
|
|
Cost of
sales
|
|
|
|
|
|
|
|
Software
|
|
568
|
|
640
|
|
1,205
|
|
Wireless system
solution
|
|
9,976
|
|
1,049
|
|
2,203
|
|
|
- Related
party
|
|
127
|
|
-
|
|
-
|
|
|
-Third
Party
|
|
9,849
|
|
1,049
|
|
2,203
|
|
Total cost of
sales
|
|
10,544
|
|
1,689
|
|
3,408
|
|
|
|
|
|
|
|
|
|
Gross (loss)
profit
|
|
1,018
|
|
(238)
|
|
2,929
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
Selling and marketing
expenses
|
|
557
|
|
685
|
|
629
|
|
General and
administrative expenses
|
|
2,805
|
|
8,278
|
|
3,276
|
|
Research and
development expenses
|
|
249
|
|
201
|
|
311
|
|
Total Operating
expenses
|
|
3,611
|
|
9,164
|
|
4,216
|
Loss from
operations
|
|
(2,593)
|
|
(9,402)
|
|
(1,287)
|
|
|
|
|
|
|
|
|
|
Other
income(expense)
|
|
|
|
|
|
|
|
Subsidy
income
|
|
-
|
|
237
|
|
-
|
|
Interest
income
|
|
79
|
|
117
|
|
162
|
|
Loss of net
investment in sales-type leases
|
|
(1,443)
|
|
-
|
|
-
|
|
Other income
(expense), net
|
|
(1,176)
|
|
60
|
|
120
|
|
|
- Related
party
|
|
44
|
|
-
|
|
-
|
|
|
-Third
Party
|
|
(1,220)
|
|
60
|
|
120
|
|
Total other income
(expense), net
|
|
(2,540)
|
|
414
|
|
282
|
Loss before income
tax expenses
|
|
(5,133)
|
|
(8,988)
|
|
(1,005)
|
|
Income tax
expenses
|
|
-
|
|
-
|
|
32
|
Net loss
|
$
|
(5,133)
|
$
|
(8,988)
|
$
|
(1,037)
|
Other comprehensive
income
|
|
|
|
|
|
|
|
Foreign currency
translation gain
|
|
616
|
|
1,194
|
|
676
|
Comprehensive
loss
|
$
|
(4,517)
|
$
|
(7,794)
|
$
|
(361)
|
|
|
|
|
|
|
|
|
|
Loss per ordinary
share:
|
|
|
|
|
|
|
|
Basic and
Diluted
|
$
|
(3.65)
|
$
|
(6.40)
|
$
|
(0.74)
|
|
|
|
|
|
|
|
|
|
Weighted average
number of ordinary shares outstanding Basic and Diluted
|
|
|
|
|
|
|
|
|
|
|
1,405,000
|
|
1,405,000
|
|
1,405,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
KINGTONE
WIRELESSINFO SOLUTION HOLDING LTD AND SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
(Express in
thousands of U.S. Dollars, except shares and per share
data)
|
|
|
|
|
For the years
ended September 30,
|
|
|
|
2013
|
|
2012
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from
operating activities
|
|
|
|
|
|
|
Net
loss
|
$
|
(5,133)
|
$
|
(8,988)
|
$
|
(1,037)
|
|
Depreciation and
amortization
|
|
592
|
|
548
|
|
530
|
|
Investment
loss
|
|
1,443
|
|
-
|
|
-
|
|
Bad debt
expense
|
|
519
|
|
4,942
|
|
402
|
|
Employee
compensation
|
|
-
|
|
873
|
|
-
|
|
Share-based
compensation expense
|
|
-
|
|
2
|
|
316
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
|
|
Accounts and notes
receivable
|
|
(1,662)
|
|
1,576
|
|
(3,004)
|
|
Unbilled
revenue
|
|
(5,351)
|
|
(405)
|
|
818
|
|
Other receivables and
prepayments
|
|
1,180
|
|
(1,549)
|
|
(278)
|
|
Inventories
|
|
(41)
|
|
(390)
|
|
161
|
|
Tax
payable
|
|
(176)
|
|
76
|
|
(1,934)
|
|
Accounts
payable
|
|
796
|
|
(201)
|
|
351
|
|
Advance from
customers
|
|
7,378
|
|
1,146
|
|
(12)
|
|
Other payables and
accruals
|
|
(58)
|
|
9
|
|
(13)
|
|
Net investment in
sales-type leases
|
|
122
|
|
(71)
|
|
(1,407)
|
|
Due from related
party
|
|
(15)
|
|
-
|
|
-
|
Net cash (used in)
provided by operating activities
|
|
(406)
|
|
(2,432)
|
|
(5,107)
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities
|
|
|
|
|
|
|
|
Payment to purchase
property and equipments
|
|
(22)
|
|
(97)
|
|
(75)
|
|
Disposal of property
and equipments
|
|
29
|
|
-
|
|
-
|
Net cash (used in)
provided by investing activities
|
|
7
|
|
(97)
|
|
(75)
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities
|
|
|
|
|
|
|
|
Collection/(Payment)
in amounts due from related-party companies
|
1
|
|
-
|
|
5
|
|
Proceeds in amounts
due to related-party companies
|
|
-
|
|
-
|
|
2
|
|
Receipt in loan from
non-related companies
|
|
-
|
|
9
|
|
3,000
|
|
Payment in loan to
non-related companies
|
|
-
|
|
-
|
|
(4,208)
|
|
Collection in amounts
due from shareholders
|
|
-
|
|
-
|
|
11
|
Net cash (used in)
provided by financing activities
|
|
1
|
|
9
|
|
(1,190)
|
|
|
|
|
|
|
|
|
Effect of exchange
rate changes on cash and cash equivalents
|
91
|
|
211
|
|
209
|
|
|
|
|
|
|
|
|
Net decrease in
cash and cash equivalents
|
|
(307)
|
|
(2,310)
|
|
(6,160)
|
|
Cash and cash
equivalents at beginning of year
|
|
6,439
|
|
8,749
|
|
14,909
|
|
Cash and cash
equivalents at end of year
|
$
|
6,132
|
$
|
6,439
|
$
|
8,749
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental
disclosure of cash flow information
|
|
|
|
|
|
|
|
Interest
paid
|
$
|
-
|
$
|
-
|
$
|
-
|
|
Income taxes
paid
|
$
|
-
|
$
|
-
|
$
|
1,608.00
|
|
|
|
|
|
|
|
|
KINGTONE
WIRELESSINFO SOLUTION HOLDING LTD AND SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF SHAREHOLDERS' EQUITY
|
(Express in
thousands of U.S. Dollars, except shares and per share
data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paid-in
capital
|
|
Additional
paid-in Capital
|
|
Appropriated
retained
earnings
|
|
Unappropriated
retained
earnings
|
|
Accumulated
other
comprehensive
income
|
|
Total
Stockholders' Equity
|
|
|
|
|
|
|
|
|
|
|
|
Ordinary
shares
|
|
|
|
|
|
|
|
Ordinary shares
|
|
Amount
|
|
|
|
|
|
|
Balance as
of September 30, 2010
|
1,400,000
|
|
14
|
|
-
|
|
21,915
|
|
844
|
|
8,281
|
|
1,713
|
|
32,767
|
Issuance of
ordinary shares in form of American Depositary Shares
|
5,000
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
Share-based
compensation
|
-
|
|
-
|
|
-
|
|
316
|
|
-
|
|
-
|
|
-
|
|
316
|
Net loss for
the year
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(1,037)
|
|
-
|
|
(1,037)
|
Transfer to
statutory reserves
|
-
|
|
-
|
|
-
|
|
-
|
|
771
|
|
(771)
|
|
-
|
|
-
|
Foreign
currency translation gain
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
676
|
|
676
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
Balance as
of September 30, 2011
|
1,405,000
|
|
14
|
|
-
|
|
22,231
|
|
1,615
|
|
6,473
|
|
2,389
|
|
32,722
|
Share-based
compensation
|
-
|
|
-
|
|
-
|
|
2
|
|
-
|
|
-
|
|
-
|
|
2
|
Net loss for
the year
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(8,988)
|
|
-
|
|
(8,988)
|
Foreign
currency translation gain
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
1,194
|
|
1,194
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
Balance as
of September 30, 2012
|
1,405,000
|
|
14
|
|
-
|
|
22,233
|
|
1,615
|
|
(2,515)
|
|
3,583
|
|
24,930
|
Net loss for
the year
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
(5,133)
|
|
-
|
|
(5,133)
|
Foreign
currency translation gain
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
-
|
|
616
|
|
616
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-
|
Balance as
of September 30, 2013
|
1,405,000
|
|
14
|
|
-
|
|
22,233
|
|
1,615
|
|
(7,648)
|
|
4,199
|
|
20,413
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SOURCE Kingtone Wirelessinfo Solution Holding Ltd