American Smooth Wave (GREY:ASWV)

Company Snapshot:

Designs, manufactures and sells “Ailibao” branded footwear and design related apparel in the PRC.

Industry Snapshot:

• The PRC has the world’s largest population with approximately 1.3 billion people, yet its sportswear expenditure lags behind many developed nations.  The PRC’s 2008 sportswear expenditure per capita was only USD $7.4, whereas the United States’ was USD $232.8 (Frost & Sullivan, as reported by CIMB Research).

Post Merger Share Calculation:

•     8,532,500: Pre reverse merger outstanding shares
• 317,409,000: Newly issued shares of Common Stock
•     6,826,000: Shares to consultant

GeoTeam® best effort calculation of total post reverse merger shares assuming full conversions:  332,767,500

Financial Snapshot: December Year End

2009 vs. 2008

• Revenues:$81.5 million vs. $65.1 million
• Net Income: $16.1 million vs. $12.2 million

Nine Months 2010 vs 2009

• Revenues: $73.6  million vs. $58.6 million
• Adjusted Net Income: $14.6 million vs. $11.6 million 

Pro Forma Valuation: using TBA price and new share count

• Trailing EPS: $0.05
• Trailing P/E:  TBA