Intl Pack Logi Grp Com Usd0.001 (GREY:IPLO)

WEB NEWS

Friday, July 8, 2016

Reverse Merger Activity

Item 1.01 Entry into a Material Definitive Agreement.

 
As more fully described in Item 2.01 below, on May 15, 2016, International Packaging and Logistics Group, Inc. (“IPLO” or “Company”), and Xiuhua Song (the “Purchaser”) entered into a Stock Purchase Agreement (the “Purchase Agreement”), pursuant to which IPLO (the “Seller”) will sell to the Purchaser, and the Purchaser will purchase from the Seller, an aggregate of 3,915,000 newly issued shares of IPLO Common Stock (the “Shares”), which Shares represent 87% of the issued and outstanding shares of Common Stock. On July 1, 2016, we completed this transaction

On July 1, 2016, International Packaging and Logistics Group, Inc. (the “Registrant” or “IPLO”) executed a Share Exchange Agreement (“Exchange Agreement”) by and among Yibaoccyb Limited, a British Virgin Islands limited liability company (“Yibaoccyb”), and the stockholders of 51% of Yibaoccyb’s common stock (the “Yibaoccyb Shareholders”), on the one hand, and the Registrant, on the other hand. A copy of the Exchange Agreement is included as Exhibit 2.1 and filed with this current report on Form 8-K.

Yibaoccyb owns 100% of YibaoConfucian Co., Ltd. (“YibaoHK”), a Hong Kong company. YibaoHK owns or will own 100% of Shenzhen Confucian Biologics Co. Ltd. (“Yibao WOFE”), which is a wholly foreign-owned enterprise (“WFOE”) under the laws of the Peoples’ Republic of China (“PRC” or “China”). Yibao WOFE is expected to enter into a series of contractual arrangements with Shandong Confucian Biologics Co., Ltd. (“Shandong Confucian Biologics”) which is a limited liability company headquartered in, and organized under the laws of, the PRC. The contractual arrangements are discussed below in Item 2.01 under the section titled “Description of Business”. Throughout this Form 8-K, Yibaoccyb, Yibao WOFE and Shandong Confucian Biologics are sometimes collectively referred to as the “Yibao Group.”

At the closing of this transaction (the “Closing”), which is expected to occur upon the completion of the audit of Shandong Confucian Biologics (the “Closing Date”), the Registrant is expected to issue 2,040,000 shares of the Registrant’s common stock (the “IPLO Shares”) to the Yibaoccyb Shareholders in exchange for 51% of the common stock of Yibaoccyb (the “Exchange Agreement”).

On July 1, 2016, Standard Resources Ltd. (“Standard”) previously IPLO’s Majority Stockholder, and IPLO entered into a share purchase agreement (“H&H Vend Out”) whereby Standard will cancel 3,915,000 shares of IPLO common stock held by it in exchange for all of the outstanding shares of H&H Glass, Inc. (“H&H Glass”) The H&H Vend Out is expected to occur subsequent to the Closing Date. The description of other material terms and conditions of the Exchange Agreement and the Financing are set forth below under Item 2.01 and such description is incorporated herein by reference. A copy of the H&H Vend Out is included as Exhibit 10.2 and filed with this current report on Form 8-K.

Item 2.01 Acquisition or Disposition of Assets


On the Closing Date, we expect to consummate the Purchase Agreement, referenced in Item 1.01 of this Form 8-K. As a result, we will acquire 51% of the capital stock of Yibaoccyb and, consequently, control of the business and operations of the Yibao Group. Prior to the Share Exchange Transaction, through our subsidiary H&H Glass, we were a glass importer that supplies custom products such as perfume bottles and food condiment bottles, plus provides complementary services such as container design and mold making. H&H Glass imports glass containers from Asia and distributes to North America. H&H Glass acquires its products mainly from one supplier in China and Taiwan and sells its products through several distributors in the United States and Canada who service small to medium sized customers. H&H imports in excess of 1,000 shipping containers of glass a year. Depending on the size of the product, a container can contain anywhere from 3,000 to 300,000 pieces.

From and after the Closing Date of the Exchange Agreement, our primary operations will consist of the business and operations of the Yibao Group, which are conducted by Shandong Confucian Biologics in China. Therefore, we are disclosing information about the Yibao Group’s business, financial condition, and management in this Form 8-K.


The parties’ completion of the transactions contemplated under the Exchange Agreement is subject to the satisfaction of certain contingencies, including the Purchase Agreement and the H&H Vend Out. Most importantly the completion of the audit of Shandong Confucian Biologics.

Our board of directors (the “Board”) and IPLO’s Majority Stockholder, as well as the directors and the shareholders of Yibaoccyb, have each approved the Purchase Agreement, Exchange Agreement and H&H Vend Out, including the transactions contemplated thereunder. Following the Closing Date, Yibaoccyb is expected to become a 51% owned subsidiary.


Wednesday, May 18, 2016

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

For the Three Months Ended March 31, 2016 and 2015

(Unaudited)

 

    March 31     March 31  
    2016     2015  
Revenues                
Packaging   $ 8,065,362     $ 8,871,824  
                 
Total Revenues     8,065,362       8,871,824  
                 
Cost of Goods Sold                
Packaging     7,766,056       8,519,555  
                 
Total Cost of Goods Sold     7,766,056       8,519,555  
                 
Gross Profit     299,306       352,269  
                 
Operating Expenses                
Administrative expenses     212,316       216,914  
Rent     21,454       14,357  
Salaries and wages     135,665       155,171  
                 
Total Operating Expenses     369,435       386,442  
                 
Loss from Operations     (70,129 )     (34,173 )
                 
Other income                
Interest income (expense), net            
Other income           16,194  
Total Other Income           16,194  
                 
Loss from Continuing Operations before Income Taxes     (70,129 )     (17,979 )
                 
Income tax benefit (expense)     (12,110 )      
Net Income (Loss) from Continuing Operations     (82,239 )     (17,979 )
                 
Discontinued operations:                
Gain (Loss) from operations, including portion attributable to non-controlling interest of discontinued Logistics component           15,924  
                 
Income (Loss) on discontinued operations           15,924  
                 
Net Income (Loss)     (82,239 )     (2,055 )
                 
Comprehensive Income (Loss)   $ (82,239 )   $ (2,055 )
                 
Earnings per weighted average share of common stock - basic   $ (0.02 )   $ (0.00 )
Earnings per weighted average share of common stock - diluted   $ (0.02 )   $ (0.00 )
Weighted average shares outstanding - basic     4,504,214       4,504,214  
Weighted average shares outstanding - diluted     4,504,214       4,504,214  

Tuesday, April 19, 2016

Comments & Business Outlook

INTERNATIONAL PACKAGING AND LOGISTICS GROUP, INC., AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014

 

    December 31     December 31  
    2015     2014  
Revenues                
Packaging   $ 38,499,995     $ 35,728,361  
                 
Total Revenues     38,499,995       35,728,361  
                 
Cost of Goods Sold                
Packaging     36,957,989       34,324,102  
                 
Total Cost of Goods Sold     36,957,989       34,324,102  
                 
Gross Profit     1,542,006       1,404,259  
                 
Operating Expenses                
Administrative expenses     787,666       690,701  
Rent     76,108       46,864  
Salaries and wages     630,641       581,481  
                 
Total Operating Expenses     1,494,415       1,319,046  
                 
Income from Operations     47,591       85,213  
                 
Other income (loss)                
Interest income (expense), net           (299 )
Other income (expense)     40,869        
Total Other Income (Loss)     40,869       (299 )
                 
Net Income from Continuing                
Operations before Income Taxes     88,460       84,914  

 

The accompanying notes are integral to these consolidated financial statements.

 

 

 

 

  F-3  

 

 

INTERNATIONAL PACKAGING AND LOGISTICS GROUP, INC., AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

FOR THE YEARS ENDED DECEMBER 31, 2015 AND 2014

 

 

    December 31     December 31  
    2015     2014  
Income tax benefit (expense)           (41,137 )
                 
Net Income from Continuing Operations     88,460       43,777  
                 
Discontinued operations:                
                 
Gain from operations, including portion attributable to non-controlling interest of discontinued Logistics component                
      15,924       18,855  
                 
Income tax benefit           (10,217 )
                 
Income on discontinued operations     15,924       8,638  
                 
Net Income     104,384       52,415  
                 
Reclassification discontinued operations           (34,414 )
                 
Comprehensive Income   $ 104,384     $ 18,001  
                 
Earnings per weighted average share of common stock - basic                
    $ 0.02     $ 0.01  
Earnings per weighted average share of common stock - diluted                
    $ 0.02     $ 0.01  
Weighted average shares outstanding - basic     4,578,120       4,961,357  
Effect of dilutive securities     1,039,388       1,374,730  
Weighted average shares outstanding - diluted     5,617,508       6,336,087

Friday, November 13, 2015

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

For the Three and Nine Months Ended September 30, 2015 and 2014

(Unaudited)

 

 

    Nine Months Ended
September 30,
    Three Months Ended
September 30,
 
   

2015

    2014     2015     2014  
Revenues                                
Packaging   $ 28,498,152     $ 25,085,447     $ 9,717,432     $ 8,997,294  
                                 
Total Revenues     28,498,152       25,085,447       9,717,432       8,997,294  
                                 
Cost of Goods Sold                                
Packaging     27,330,496       24,019,055       9,340,720       8,621,465  
                                 
Total Cost of Goods Sold     27,330,496       24,019,055       9,340,720       8,621,465  
                                 
Gross Profit     1,167,656       1,066,392       376,712       375,829  
                                 
Operating Expenses                                
Administrative expenses     623,258       585,666       158,956       180,836  
Rent     55,559       35,819       20,601       11,524  
Salaries and wages     476,458       429,700       156,641       146,029  
                                 
Total Operating Expenses     1,155,275       1,051,185       396,198       338,389  
                                 
Income from Operations     12,381       15,207       40,514       37,440  
                                 
Other income (loss)                                
Interest income (expense), net           (299 )            
Other income (expense)     16,194       (90 )           (50 )
Total Other Income (Loss)     16,194       (389 )           (50 )
                                 
Net Income from Continuing Operations before Income Taxes     28,575       14,818       40,514       37,390  

 

 

See accompanying notes to these unaudited condensed consolidated financial statements

 

 

  4  

 

 

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

For the Three and Nine Months Ended September 30, 2015 and 2014

(Unaudited)

 

 

 

 

 

Income tax benefit (expense)           (1,600 )        
                                 
Net Income from Continuing Operations     28,575       13,218       40,514     37,390  
                                 
Discontinued operations:                                
                           
Gain (Loss) from operations, including portion attributable to non-controlling interest of discontinued Logistics component     15,924       (32,302 )         5,831  
                                 
Income tax benefit           989           (1,671)
                                 
Income (Loss) on discontinued operations     15,924       (31,313 )         4,160
                                 
Net Income (Loss)     44,499       (18,095 )     40,514     41,550        
                                 
Foreign currency translation           519           (9,558 )
                                 
Comprehensive Income (Loss)   $ 44,499     $ (17,576 )   $ 40,514   $ 31,992  
                                 
Earnings per weighted average share of common stock - basic   $ 0.01     $ (0.00 )   $ 0.01   $ 0.01    
Earnings per weighted average share of common stock - diluted   $ 0.01     $ (0.00 )   $ 0.01   $ 0.01    
Weighted average shares outstanding - basic     4,504,214       4,961,357       4,504,214     4,961,357
Weighted average shares outstanding - diluted     5,664,203       4,961,357       5,478,944     6,336,087

Thursday, August 20, 2015

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

For the Three and Six Months Ended June 30, 2015 and 2014

(Unaudited)

 

    Six Months Ended
June 30,
    Three Months Ended
June 30,
 
    2015     2014     2015       2014  
Revenues                                
Packaging   $ 18,780,720     $ 16,088,153     $ 9,908,896     $ 8,130,122  
                                 
Total Revenues     18,780,720       16,088,153       9,908,896       8,130,122  
                                 
Cost of Goods Sold                                
Packaging     17,989,776       15,397,590       9,470,221       7,716,754  
                                 
Total Cost of Goods Sold     17,989,776       15,397,590       9,470,221       7,716,754  
                                 
Gross Profit     790,944       690,563       438,675       413,368  
                                 
Operating Expenses                                
Administrative expenses     464,302       404,830       247,388       175,173  
Rent     34,958       24,295       20,601       15,366  
Salaries and wages     319,817       283,671       164,646       151,452  
                                 
Total Operating Expenses     819,077       712,796       432,635       341,991  
                                 
(Loss) Income from Operations     (28,133 )     (22,233 )     6,040       71,377  
                                 
Other income (loss)                                
Interest income (expense), net           (299 )            
Other income (expense)     16,194       (40 )           (40 )
Total Other Income (Loss)     16,194       (339 )           (40 )
                                 
Net (Loss) Income from Continuing                                
Operations before Income Taxes     (11,939 )     (22,572 )     6,040       71,337  

 

 

Income tax benefit (expense)           (1,600 )            
                                 
Net Income (Loss) from Continuing Operations     (11,939 )     (24,172 )     6,040       71,337  
                                 
Discontinued operations:                                
                                 
Gain (Loss) from operations, including portion attributable to non-controlling interest of discontinued Logistics component    
15,924
     
(38,133

)
   
       
(1,534
 
)
                                 
Income tax benefit           2,660             (7,584 )
                                 
Income (Loss) on discontinued operations     15,924       (35,473 )           (9,118 )
                                 
Net Income (Loss)     3,985       (59,645 )     6,040       62,219  
                                 
Foreign currency translation           10,077             2,048  
                                 
Comprehensive Income (Loss)   $ 3,985     $ (49,568 )   $ 6,040     $ 64,267  
                                 
Earnings (Loss) per weighted average share of common stock - basic   $ (0.00 )   $ (0.01 )   $ 0.00     $ 0.02  
Earnings (Loss) per weighted average share of common stock - diluted   $ (0.00 )   $ (0.01 )   $ 0.00     $ 0.02  
Weighted average shares outstanding - basic     4,654,251       4,961,557       4,505,214       4,961,557  
Weighted average shares outstanding - diluted     4,654,241       4,961,557       4,505,214       6,336,087  

Monday, July 6, 2015

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

For the Three Months Ended March 31, 2015 and 2014

(Unaudited)

 

 

 

    March 31,
2015
    March 31,
2014
 
Revenues            
Packaging   $ 8,871,824     $ 7,958,031  
Total Revenues     8,871,824       7,958,031  
                 
Cost of Goods Sold                
Packaging     8,519,555       7,680,836  
Total Cost of Goods Sold     8,519,555       7,680,836  
                 
Gross Profit     352,269       277,195  
                 
Operating Expenses                
Administrative expenses     216,914       229,657  
Rent     14,357       8,929  
Salaries and wages     155,171       132,219  
Total Operating Expenses     386,442       370,805  
                 
Loss from Operations     (34,173 )     (93,610 )
                 
Other income (loss)                
Other income (expense)     16,194       (299 )
Total Other Income (Loss)     16,194       (299 )
                 
Net loss Continuing Operations before Income Taxes     (17,979 )     (93,909 )
Income tax benefit (expense)           (1,600 )
                 
Net Loss from Continuing Operations     (17,979 )     (95,509 )
                 
Discontinued operations:                
                 
Gain (Loss) from operations, including portion attributable to non-controlling interest of discontinued Logistics component     15,924       (36,599 )
Income tax benefit           10,244  
                 
Gain (Loss) on discontinued operations     15,924       (26,355 )
                 
Net Loss     (2,055 )     (121,864 )
                 
Foreign currency translation           8,029  
                 
Comprehensive Loss   $ (2,055 )   $ (113,835 )
                 
Loss per weighted average share of common stock - basic   $ (0.00 )   $ (0.02 )
Loss per weighted average share of common stock -diluted   $ (0.00 )   $ (0.02 )
Weighted average shares outstanding - basic     4,504,214       4,961,357  
Weighted average shares outstanding - diluted     4,504,214       4,961,357  

Management Discussion and Analysis

Revenue:

 
For the three months ending March 31, 2015 and 2014, revenues were $8,871,824 and $7,958,031 respectively, for an increase of $913,793 or 11.5% over the same period in 2014. The increase in revenue is a mainly due to an improved US economy which resulted in increased volume.


Thursday, May 14, 2015

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income

For the Years Ended December 31, 2014 and 2013

 

 

    December 31     December 31  
    2014     2013  
Revenues                
Packaging   $ 35,728,361     $ 34,005,056  
                 
Total Revenues     35,728,361       34,005,056  
                 
Cost of Goods Sold                
Packaging     34,324,102       32,744,166  
                 
Total Cost of Goods Sold     34,324,102       32,744,166  
                 
Gross Profit     1,404,259       1,260,890  
                 
Operating Expenses                
Administrative expenses     690,701       634,936  
Rent     46,864       47,329  
Salaries and wages     581,481       584,748  
                 
Total Operating Expenses     1,319,046       1,267,013  
                 
Income (loss) from Operations     85,213       (6,123 )
                 
Other income (expense)                
Interest income (expense), net     (299 )     1,873  
Other income (expense)           (567 )
Rent Income           1,245  
Total Other Income (expense)     (299 )     2,551  
                 
Net Income (loss) from Continuing Operations before Income Taxes     84,914       (3,572 )

 

 

The accompanying notes are integral to these consolidated financial statements

 

F-5
 

 

International Packaging and Logistics Group, Inc., and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income

For the Years Ended December 31, 2014 and 2013

 

 

             
Income tax benefit (expense)     (41,137 )     83,725  
                 
Net Income from Continuing Operations     43,777       80,153  
                 
Discontinued operations:                
                 
Gain from operations, including portion attributable to non-controlling interest of discontinued Logistics component     18,855       16,652  
                 
Income tax expense     (10,217 )     (12,150 )
                 
Income from discontinued operations     8,638       4,502  
                 
Net Income     52,415       84,655  
                 
Foreign currency translation     0       (17,945 )
                 
Reclassification discontinued operations     (34,414 )     0  
                 
Comprehensive Income   $ 18,001     $ 66,710  

 

 

    2014     2013  
Weighted-average number of common shares outstanding—Basic     4,961,357       4,961,357  
Effect of dilutive securities—     1,374,730       1,374,730  
Weighted-average number of common shares outstanding—Diluted     6,336,087       6,336,087  

 

 

AMOUNTS ATTRIBUTABLE TO THE COMMON STOCKHOLDERS:     2014       2013  
Income from continuing operations, net of tax   $ 43,777     $ 80,153  
Income from discontinued operations, net of tax     8,638       4,502  
Net income (loss)   $ 52,415     $ 84,655  
BASIC EARNINGS PER SHARE:                
Income from continuing operations attributable to common stockholders, net of tax   $ 0.01     $ 0.02  
Income from discontinued operations attributable common stockholders, net of tax     0.00       0.00  
NET INCOME (LOSS) ATTRIBUTABLE TO THE COMMON STOCKHOLDERS   $ 0.01     $ 0.02  
DILUTED EARNINGS PER SHARE:                
Income (loss) from continuing operations attributable to common stockholders, net of tax   $ 0.01     $ 0.01  
Income (loss) from discontinued operations attributable to common stockholders, net of tax     0.00       0.00  
NET INCOME (LOSS) ATTRIBUTABLE COMMON STOCKHOLDERS   $ 0.01     $ 0.01  
Comprehensive income   $ 18,001     $ 64,504

Friday, March 20, 2015

Disposal of Assets

ITEM 2.01. COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.


International Packaging and Logistics Group, Inc. (“IPL Group Inc.”) (Seller), entered into an agreement with its majority owned subsidiary, EZ LINK Corporation (“EZ LINK”) (Buyer) which is a logistics company headquartered in Taiwan. EZ Link was established in July 2003 under the Company Law of Republic of China. Under this agreement EZ LINK is acquiring back IPL Group Inc.’s share position in EZ Link in exchange for their share position in IPL Group Inc. This transaction is effective as of February 28, 2015.

 
The terms are as follows:

IPL Group Inc. will assign its position in EZ LINK or 688,500 shares in the aggregate, to EZ LINK, such that, following such transaction, EZ KINK will no longer be a subsidiary of IPL Group Inc.

EZ LINK will assign the following:


(a) The 457,143 shares of common stock held by EZ LINK shareholders.

(b) The Series B Convertible preferred shares held by EZ LINK shareholders.

The EZ Link subsidiary accounts for less than 10% of the consolidated entity and therefore would not meet the significant criteria.


Wednesday, November 19, 2014

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

For the Three and Nine Months Ended September 30, 2014 and 2013

(Unaudited)

 

 

    Nine Months Ended     Three Months Ended  
    September 30,     September 30  
    2014     2013     2014     2013  
Revenues                                
Packaging   $ 25,085,447     $ 24,814,637     $ 8,997,294     $ 8,166,658  
Logistics     5,326,002       5,545,734       2,107,246       1,728,910  
Total Revenues     30,411,449       30,360,371       11,104,540       9,895,568  
                                 
Cost of Goods Sold                                
Packaging     24,019,055       23,834,770       8,621,465       7,840,207  
Logistics     4,522,023       4,661,720       1,822,232       1,458,851  
Total Cost of Goods Sold     28,541,078       28,496,490       10,443,697       9,299,058  
                                 
Gross Profit     1,870,371       1,863,881       660,843       596,510  
                                 
Operating Expenses                                
Administrative expenses     842,578       732,916       270,005       207,894  
Rent     92,197       96,427       28,608       30,073  
Salaries and wages     988,091       1,004,040       315,320       302,756  
Total Operating Expenses     1,922,866       1,833,383       613,933       540,723  
                                 
(Loss) Income from Operations     (52,495 )     30,498       46,910       55,787  
                                 
Other Income                                
Interest income (expense), net     102       619       (2,349 )     46  
Other income (expense)     2,469       3,729       1,902       1,764  
Rent Income     757       670       757       477  
Total Other Income     3,328       5,018       310       2,287  
                                 
Net (Loss) Income before Income Taxes     (49,167 )     35,516       47,220       58,074  
Income tax benefit (expense)     989       (12,482 )     (1,671 )     48  
Net (Loss) Income     (48,178 )     23,034       45,549       58,122  
                                 
Net (gain) loss attributable to non-controlling interest     30,085       1,902       (3,999 )     72  
Net (Loss) Income attributable to common stockholders     (18,093 )     24,936       41,550       58,194  
Comprehensive Income                                
Currency translation adjustment     519       (10,036 )     (9,558 )     6,400  
Comprehensive (Loss) Income   $ (17,574 )   $ 14,900     $ 31,992     $ 64,594  
                                 
Earnings per weighted average share of common stock - basic   $ (0.00 )   $ 0.01     $ 0.01     $ 0.01  
Earnings per weighted average share of common stock -diluted   $ (0.00 )   $ 0.00     $ 0.01     $ 0.01  
Weighted average shares outstanding - basic     4,961,357       4,961,357       4,961,357       4,961,357  
Weighted average shares outstanding - diluted     4,961,357       6,336,087       6,336,087       6,336,087  

Management Discussion and Analysis

For the three months ending September 30, 2014 and 2013, revenues were $11,104,540 and $9,895,568, respectively, for an increase of $1,208,972 (12.2%) over the same period in 2013. The increase in revenue is mainly due to two factors; 1) an increase in packaging revenue of $830,636 (10.2%) due to a decrease in sales deductions, 2) plus an increase in logistics revenues of $378,336 (21.9%), mainly due to an increase in overall shipping for the quarter.


Friday, October 24, 2014

Acquisition Activity

Item 2.01 Acquisition or Disposition of Assets


On October 1, 2014, International Packaging and Logistics Group, Inc. (“IPLO”) and it’s wholly owned subsidiary IPLO Holdings, Inc. (“IPII”) executed an Agreement and Plan of Merger whereby IPII will acquire all of the outstanding Stock of Idea Ventures, Inc, a Delaware corporation. The terms of the acquisition includes a payment on approximately $2.3 million in common stock.

Idea Ventures Inc., was formed in June 2013 and is a company focused on becoming a mid-market leader in technology company incubation. The Company intends to fund, acquire, and monetize various Internet and application development companies. Primarily focused on investing in business-to-consumer (B2C) Internet and application development companies, Idea Ventures is poised to provide a platform for early application developers and rollout ready software companies. Idea Ventures, Inc. will be operated as a wholly owned subsidiary of IPLO.

This transaction represents the start of a change in business direction to serve the business and financing needs of Internet and mobile application builders and their projects by providing a central facility, tools, technology, consulting and funding to allow these businesses to achieve the highest amount of success possible, while giving founders liquidity in their technological investment.


Friday, October 17, 2014

Auditor trail

Item 4.01 Changes in Registrants Certifying Accountant.


(a) On October 13, 2014, the Company informed PMB Helin Donovan, LLP that they were engaging another auditing firm concurrent with this notice. PMB Helin Donovan, LLP audited the financial statements of the Company for the fiscal years ended December 31, 2013 and 2012. The report of PMB Helin Donovan, LLP (“PMB”) on such financial statements, the most recent dated April 8, 2014, did not contain an adverse opinion or disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles. Between February 22, 2006 (the date of engagement) and October 13, 2014 (the date ending their engagement) there were no disagreements with PMB on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PMB, would have caused PMB to make reference to the subject matter of the disagreement in its review of the Company’s consolidated financial statements for the fiscal years ended December 31, 2013 and 2012.
 
The Company has requested that PMB furnish it with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the above statements. A copy of such letter, dated October 17, 2014 is filed herewith as Exhibit 16.
 

(b) On October 13, 2014, upon the authorization and approval of the board of directors, the Company engaged RBSM LLP, Accountants and Advisors (“RBSM”) as its independent registered public accounting firm.
 
No consultations occurred between the Company and RBSM during the transitional period ended the fiscal years ended December 31, 2013 and 2013 and through October 13, 2014, regarding either (i) the application of accounting principles to a specific completed or contemplated transaction, the type of audit opinion that might be rendered on the Company’s financial statements, or other information provided that was an important factor considered by the Company in reaching a decision as to an accounting, auditing, or financial reporting issue, or (ii) any matter that was the subject of disagreement requiring disclosure under Item 304(a)(1)(iv) of Regulation S-K or reportable event requiring disclosure under Item 304(a)(1)(v) of Regulation S-K.


Tuesday, August 19, 2014

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operating and Comprehensive Income (Loss)

For the Six Months Ended June 30, 2014 and 2013

(Unaudited)

 

    Six Months Ended
June 30,
    Three Months Ended
June 30
 
    2014     2013     2014     2013  
Revenues                                
Packaging   $ 16,088,153     $ 16,647,979     $ 8,130,122     $ 7,992,803  
Logistics     3,218,756       3,816,824       1,836,831       2,104,191  
                                 
Total Revenues     19,306,909       20,464,803       9,966,953       10,096,994  
                                 
Cost of Goods Sold                                
Packaging     15,397,590       15,994,563       7,716,754       7,657,269  
Logistics     2,699,792       3,202,870       1,539,921       1,752,994  
                                 
Total Cost of Goods Sold     18,097,382       19,197,433       9,256,675       9,410,263  
                                 
Gross Profit     1,209,527       1,267,370       710,278       686,731  
                                 
Operating Expenses                                
Administrative expenses     572,573       525,022       255,923       293,385  
Rent     63,589       66,354       34,560       30,344  
Salaries and wages     672,771       701,284       360,863       347,814  
                                 
Total Operating Expenses     1,308,933       1,292,660       651,346       671,543  
                                 
(Loss) income from Operations     (99,406 )     (25,290 )     58,932       15,188  
                                 
Other Income                                
Interest income net     102       573       353       343  
Other income (expense)     2,349       1,965       (33 )     1,576  
Rent Income     567       192       191       193  
Total Other Income     3,018       2,730       511       2,112  
                                 
Net Income (Loss) before Income Taxes     (96,388 )     (22,560 )     59,443       17,300  

Management Discussion and Analysis

Revenue:

For the three months ending June 30, 2014 and 2013, revenues were $9,966,953 and $10,096,994, respectively, for a decrease of $130,041 (1.3%) over the same period in 2013. The decrease in revenue is mainly due to two factors; 1) a increase in packaging revenue of $137,319 (1.7%) due to a decrease in sales deductions, 2) offset by a decrease in logistics revenues of $267,360 (12.7%) , mainly due to a decrease in overall shipping.


Tuesday, May 20, 2014

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations and Comprehensive Income

For the Three Months Ended March 31, 2014 and 2013

(Unaudited)

 

 

    Quarter Ended  
    March 31,  
    2014     2013  
Revenues                
Packaging   $ 7,958,031     $ 8,655,176  
Logistics     1,381,925       1,712,633  
                 
Total Revenues     9,339,956       10,367,809  
                 
Cost of Goods Sold                
Packaging     7,680,836       8,337,294  
Logistics     1,159,872       1,449,877  
                 
Total Cost of Goods Sold     8,840,708       9,787,171  
                 
Gross Profit     499,248       580,638  
                 
Operating Expenses                
Administrative expenses     316,650       231,637  
Rent     29,026       36,010  
Salaries and wages     311,908       353,470  
                 
Total Operating Expenses     657,584       621,117  
                 
Loss from Operations     (158,336 )     (40,479 )
                 
Other Income                
Interest income (expense), net     (251 )     230  
Other income (expense)     2,382       389  
Rent Income     376        
                 
Total Other Income     2,507       619  
                 
Net Income (Loss) before Income Taxes     (155,829 )     (39,860 )

 

 

 

Income tax benefit (expense)     8,644       2,100  
                 
Net Income (Loss)     (147,185 )     (37,760 )
                 
Net (gain) loss attributable to non-controlling interest     25,321       9,646  
                 
Net Income (Loss) attributable to common stockholders     (121,864 )     (28,114 )
                 
Comprehensive Income                
Unrealized loss on investments            
Currency translation adjustment     8,029       11,631  
                 
Comprehensive Income (Loss)   $ (113,835 )   $ (16,483 )
                 
Earnings per weighted average share of common stock -                
basic   $ (0.02 )   $ (0.01 )
Earnings per weighted average share of common stock -                
diluted   $ (0.02 )   $ (0.01 )
Weighted average shares outstanding - basic     4,961,357       4,961,357  
Weighted average shares outstanding - diluted     4,961,357       4,961,357  

Management Discussion and Analysis

Revenue

For the three months ending March 31, 2014 and 2013, revenues were $9,339,956 and $10,367,809, respectively, for a decrease of $1,027,853 (9.9%) over the same period in 2013. The decrease in revenue is mainly due to two factors; 1) a decrease in packaging revenue of $697,145 (8.1%) due to a decrease in sales, 2) and a decrease in logistics revenues of $330,708 (19.3%) , mainly due to a decrease in overall shipping.


Thursday, April 10, 2014

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Consolidated Statement of Operations And Comprehensive Income (Loss)

As of December 31, 2013 and 2012

   

Year Ended

December 31,

 
    2013     2012  
Revenues                
Packaging   $ 34,005,056     $ 31,062,065  
Logistics     7,007,784       9,180,081  
                 
Total Revenues     41,012,840       40,242,146  
                 
Cost of Goods Sold                
Packaging     32,744,166       29,934,810  
Logistics     5,781,379       7,898,823  
                 
Total Cost of Goods Sold     38,525,545       37,833,633  
                 
Gross Profit     2,487,295       2,408,513  
                 
Operating Expenses                
Administrative expenses     960,822       846,941  
Rent     126,992       195,170  
Salaries and wages     1,393,499       1,266,019  
                 
Total Operating Expenses     2,481,313       2,308,130  
                 
Income from Operations     5,982       100,383  
                 
Other Income                
Interest income (expense), net     2,210       (78 )
Other income     3,737       5,702  
Rent Income     1,151        
Total Other Income     7,098       5,624  
                 
Net Income before Income Taxes     13,080       106,007  

Management Discussion and Analysis

Revenue:

For the years ending December 31, 2013 and 2012, revenues were $41,012,840 and $40,242,146 respectively, for an increase of $770,694 or 1.9% over the same period in 2012. The increase in revenue is a mainly due to an increase in Packaging revenue of $2,942,991 or 9.5% as result of an improved economy offset by a decrease in Logistics revenue of $2,172,297 or 23.7%.


Monday, May 20, 2013

Comments & Business Outlook

International Packaging and Logistics Group, Inc., and Subsidiaries

Condensed Consolidated Statements of Operations And Comprehensive Income

For the Three Months Ended March 31, 2013 and 2012

(Unaudited)

 

    Three Months Ended  
    March 31,  
    2013     2012  
Revenues                
Packaging   $ 8,655,176     $ 6,858,048  
Logistics     1,712,633       2,126,743  
Total Revenues     10,367,809       8,984,791  
                 
Cost of Goods Sold                
Packaging     8,337,294       6,386,341  
Logistics     1,449,877       1,822,646  
Total Cost of Goods Sold     9,787,171       8,208,987  
                 
Gross Profit     580,638       775,804  
                 
Operating Expenses                
Administrative expenses     231,637       225,793  
Rent     36,010       49,362  
Salaries and wages     353,470       302,276  
Total Operating Expenses     621,117       577,431  
Income (Loss) from Operations     (40,479 )     198,373  
                 
Other Income                
Interest income (expense), net     230       (350 )
Other income (expense)     389       1,822  
Total Other Income     619       1,472  
Net Income (Loss) before Income Taxes     (39,860 )     199,845  

Monday, August 20, 2012

Comments & Business Outlook
International Packaging and Logistics Group, Inc., and Subsidiaries
Condensed Consolidated Statements of Operations And Comprehensive Income
For the Three AND SIX Months Ended JUNE 30, 2012 and 2011
(Unaudited)
   
Six Months Ended
   
Three Month Ended
 
   
June 30
   
June 30
 
   
2012
   
2011
   
2012
   
2011
 
Revenues
                       
Packaging
  $ 15,204,257     $ 13,720,013     $ 8,346,209     $ 7,639,563  
Logistics
    4,832,926       4,992,199       2,706,183       2,487,040  
                                 
Total Revenues
    20,037,183       18,712,212       11,052,392       10,126,603  
                                 
Cost of Goods old
                               
Packaging
    14,613,277       13,281,479       8,226,936       7,424,061  
Logistics
    4,215,054       4,313,564       2,392,409       2,152,643  
                                 
Total Cost of Goods Sold
    18,828,331       17,595,043       10,619,345       9,576,704  
                                 
 Gross Profit
    1,208,852       1,117,169       433,047       549,899  
                                 
Operating Expenses
                               
Administrative expenses
    421,302       414,599       195,509       219,282  
Rent
    98,447       95,237       49,085       48,695  
Salaries and wages
    608,683       660,292       306,407       346,255  
                                 
Total Operating Expenses
    1,128,432       1,170,128       551,001       614,232  
                                 
Income (loss) from Operations
    80,420       (52,959 )     (117,954 )     (64,333 )
                                  
Other Income
                               
Interest income (expense), net
    (239 )     (697 )     111       184  
Other income (expense)
    3,224       517       1,402       (166 )
Rent income
    -       2,949       -       1,488  
Total Other Income
    2,985       2,769       1,513       1,506  
                                 
Net Income (Loss) before Income Taxes
    83,404       (50,190 )     (116,441 )     (62,827 )





Monday, April 9, 2012

Comments & Business Outlook
International Packaging and Logistics Group, Inc., and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income/(Loss)
For the Years Ended December 31, 2011 and 2010

 
   
Year Ended
 
   
December 31,
 
   
2011
   
2010
 
Revenues
           
Packaging
  $ 26,422,926     $ 24,765,867  
Logistics
    8,384,477       11,828,491  
                 
Total Revenues
    34,807,403       36,594,358  
                 
Cost of Goods Sold
               
Packaging
    25,470,000       23,711,526  
Logistics
    7,006,995       10,571,536  
                 
Total Cost of Goods Sold
    32,476,995       34,283,062  
                 
Gross Profit
    2,330,408       2,311,296  
                 
Operating Expenses
               
Administrative expenses
    1,013,083       1,008,496  
Rent
    194,973       175,115  
Salaries and wages
    1,361,978       1,200,676  
                 
Total Operating Expenses
    2,570,034       2,384,287  
                 
Loss from Operations
    (239,626 )     (72,991 )
                 
Other Income
               
Interest income (expense)
    6,459       (405 )
Other income
    19,406       (6,538 )
Rent Income
    3,065       5,839  
Realized gain on investment
    -       130,529  
Debt forgiveness
    -       237,045  
Total Other Income
    28,930       366,470  
                 
Net Income (Loss) before Income Taxes
    (210,696 )     293,479  
                 
Income tax benefit  (expense)
    55,729       (144,640 )
Net Income (Loss)
    (154,967 )     148,839  
 Net (gain) loss attributable to non controlling interest
    (18,959 )     (6,436 )
Net Income (Loss) attributable to IPLO
    (173,926 )     142,403  
                 
Comprehensive Income
               
Unrealized loss on investments
    -       (58,246 )
Gain (loss) on currency exchange
    (3,161 )     50,333  
Comprehensive Income (Loss)
  $ (177,087 )   $ 134,490  
                 
Earnings per weighted average share of common stock - basic
  $ (0.04 )   $ 0.03  
Earnings per weighted average share of common stock - diluted
  $ (0.04 )   $ 0.02  
Weighted average shares outstanding - basic
    4,961,357       4,961,357  
Weighted average shares outstanding - diluted
    4,961,357       6,336,087  

Thursday, March 29, 2012

CFO Trail
The Company is sad to report that Steven Westlund, the Company’s Chairman, CEO and Acting CFO recently passed away. The Company has appointed Owen Naccarato as a temporary director, CEO and Acting CFO until a permanent replacement is appointed.

Sunday, November 20, 2011

Comments & Business Outlook
International Packaging and Logistics Group, Inc., and Subsidiaries
Condensed Consolidated Statements of Operations And Comprehensive Loss
For the Three and Nine Months Ended September 30, 2011 and 2010
(Unaudited)

   
Nine Months Ending
   
Three Months Ending
 
   
Sept 30,
   
Sept 30,
 
   
2011
   
2010
   
2011
   
2010
 
Revenues
                       
Packaging
  $ 20,009,851     $ 18,901,202     $ 6,289,838     $ 7,508,676  
Logistics
    7,023,229       9,073,323       2,031,030       3,349,723  
                                 
Total Revenues
    27,033,080       27,974,525       8,320,868       10,858,399  
                                 
Cost of Goods Sold
                               
Packaging
    19,475,417       18,236,970       6,193,938       7,320,528  
Logistics
    6,026,002       8,207,408       1,712,438       3,036,557  
                                 
Total Cost of Goods Sold
    25,501,419       26,444,378       7,906,376       10,357,085  
                                 
Gross Profit
    1,531,661       1,530,147       414,492       501,314  
                                 
Operating Expenses
                               
Administrative expenses
    662,705       711,593       248,106       234,944  
Rent
    145,430       129,149       50,193       44,644  
Salaries and wages
    999,470       856,414       339,178       295,051  
                                 
Total Operating Expenses
    1,807,605       1,697,156       637,477       574,639  
                                 
Loss from Operations
    (275,944 )     (167,009 )     (222,985 )     (73,325 )
                                 
Other Income
                               
Interest income (expense)
    (637 )     199       60       (335 )
Other income
    23,637       6,294       23,120       2,332  
Rent Income
    3,075       4,331       126       1,642  
Realized gain on investment
    -       93,038       -       93,038  
Total Other Income
    26,075       103,862       23,306       96,677  

Net Income (Loss) before Income Taxes
    (249,869 )     (63,147 )     (199,679 )     23,352  
                                 
Income tax benefit
    43,200       2,246       48,697       26,638  
                                 
Net Income (Loss)
    (206,669 )     (60,901 )     (150,982 )     49,990  
                                 
Net gain (loss) attributable to non controlling interest
    (6,106 )     (2,525 )     7,500       (669 )
                                 
Net Income (Loss) attributable to IPLO
    (212,775 )     (63,426 )     (143,482 )     49,321  
                                 
Comprehensive Income
                               
Unrealized loss on investments
    -       (58,246 )     -       (76,961 )
Gain (loss) on currency exchange
    (18,898 )     17,556       (15,735 )     5,704  
                                 
Comprehensive Loss
  $ (231,673 )   $ (104,116 )   $ (159,217 )   $ (21,936 )
                                 
Earnings per weighted average share of common stock - basic
  $ (0.04 )   $ (0.01 )   $ (0.03 )   $ 0.01  
                                 
Earnings per weighted average share of common stock - diluted
  $ (0.04 )   $ (0.01 )   $ (0.03 )   $ 0.01  
                                 
Weighted average shares outstanding - basic
    4,961,357       4,961,357       4,961,357       4,961,357  
                                 
Weighted average shares outstanding - diluted
    4,961,357       4,961,357       4,961,357       6,336,087  

Thursday, August 18, 2011

Comments & Business Outlook
International Packaging and Logistics Group, Inc., and Subsidiaries
Condensed Consolidated Statements of Operations And Comprehensive Income
For the Three and Six Months Ended June 30, 2011 and 2010
(Unaudited)
      
   
Six Months Ended
June 30,
   
Three Months Ended
June 30,
 
   
2011
   
2010
   
2011
   
2010
 
Revenues
                       
Packaging
  $ 13,720,013     $ 11,392,526     $ 7,639,563     $ 6,511,344  
Logistics
    4,992,199       5,723,600       2,487,040       3,168,555  
                                 
Total Revenues
    18,712,212       17,116,126       10,126,603       9,679,899  
                                 
Cost of Goods Sold
                               
Packaging
    13,281,479       10,916,442       7,424,061       6,336,205  
Logistics
    4,313,564       5,170,851       2,152,643       2,869,301  
                                 
Total Cost of Goods Sold
    17,595,043       16,087,293       9,576,704       9,205,506  
                                 
Gross Profit
    1,117,169       1,028,833       549,899       474,393  
                                 
Operating Expenses
                               
Administrative expenses
    414,599       484,838       219,282       297,353  
Rent
    95,237       84,505       48,695       42,539  
Salaries and wages
    660,292       561,363       346,255       283,444  
                                 
Total Operating Expenses
    1,170,128       1,130,706       614,232       623,336  
                                 
Income (Loss) from Operations
    (52,959 )     (101,873 )     (64,333 )     (148,943 )
                                 
Other Income
                               
Interest income (expense)
    (697 )     534       184       131  
Other income
    517       3,962       (166 )     916  
Rent Income
    2,949       2,689       1,488       1,794  
                                 
Total Other Income
    2,769       7,185       1,506       2,841  
                                 
Net Income (Loss) before Income Taxes
    (50,190 )     (94,688 )     (62,827 )     (146,102 )
    
Income tax benefit  (expense)
    (5,497 )     (24,392 )     (6,773 )     -  
                                 
Net Income (Loss)
    (55,687 )     (119,080 )     (69,600 )     (146,102 )
                                 
Net (gain) loss attributable to non controlling interest
    (13,606 )     (1,856 )     (6,474 )     304  
                                 
Net Loss attributable to IPLO
    (69,293 )     (120,936 )     (76,074 )     (145,798 )
                                 
Comprehensive Income
                               
Unrealized gain (loss) on investments
    -       18,715       -       18,715  
Gain (loss) on currency translation
    (3,163 )     20,041       11,015       10,113  
                                 
Comprehensive Income (Loss)
  $ (72,456 )   $ (82,180 )   $ (65,059 )   $ (116,970 )
                                 
Loss per weighted average share of common stock - basic
  $ (0.01 )   $ (0.02 )   $ (0.02 )   $ (0.03 )
                                 
Loss per weighted average share of common stock - diluted
  $ (0.01 )   $ (0.02 )   $ (0.02 )   $ (0.03 )
Weighted average shares outstanding - basic
    4,961,357       4,961,357       4,961,357       4,961,357  
Weighted average shares outstanding - diluted
    4,961,357       4,961,357       4,961,357       4,961,357  
  

Wednesday, April 20, 2011

Comments & Business Outlook
International Packaging and Logistics Group, Inc., and Subsidiaries
Consolidated Statements of Operations and Comprehensive Income/(Loss)
For the Years Ended December 31, 2010 and 2009


 


   
Year Ended
 
   
December 31,
 
   
2010
   
2009
 
Revenues
           
Packaging
  $ 24,765,867     $ 15,556,775  
Logistics
    11,828,491       -  
                 
Total Revenues
    36,594,358       15,556,775  
                 
Cost of Goods Sold
               
Packaging
    23,711,526       14,724,769  
Logistics
    10,571,536       -  
                 
Total Cost of Goods Sold
    34,283,062       14,724,769  
                 
Gross Profit
    2,311,296       832,006  
                 
Operating Expenses
               
Administrative expenses
    1,008,496       580,857  
Rent
    175,115       76,016  
Salaries and wages
    1,200,676       475,215  
                 
Total Operating Expenses
    2,384,287       1,132,088  
                 
Income (Loss) from Operations
    (72,991 )     (300,082 )
                 
Other Income (Expense)
               
Interest income (expense)
    (405 )     924  
Other income (Expense)
    (6,538 )     -  
Rent Income
    5,839       -  
Realized gain on investment
    130,529       -  
Debt forgiveness
    237,045       -  
                 
Total Other Income
    366,470       924  
                 
Net Income (Loss) before Income Taxes
    293,479       (299,158 )

Income tax benefit (expense)
    (144,640 )     80,109  
                 
Net Income (Loss) available to common
               
shareholder
    148,839       (219,049 )
                 
 Net gain attributable to non controlling interest
    (6,436 )     -  
                 
Net Income (Loss) attributable to IPLO
    142,403       (219,049 )
                 
Comprehensive Income
               
Unrealized gain (loss) on investments
    (58,246 )     66,964  
Gains on currency translation
    50,333       -  
                 
Comprehensive Income(Loss)
  $ 134,490     $ (152,085 )
                 
Earnings per weighted average share of common stock -
               
                                         basic
  $ 0.03     $ (0.05 )
Earnings per weighted average share of common stock -
               
                                         diluted
  $ 0.02     $ (0.05 )
Weighted average shares outstanding - basic
    4,961,357       4,504,214  
Weighted average shares outstanding - diluted
    6,336,087       4,504,214  

GeoTeam® Note: 2010 vs. 2009 EPS

  • Fourth Quarter: $0.03 vs. $(0.03)

For the years ending December 31, 2010 and 2009, revenues were $36,594,358 and $15,556,775 respectively, for an increase of $21,037,583 (135.2%) over the same period in 2009. The increase in revenue is a mainly due to two factors; 1) an increase in packaging revenue of $9,209,092 (59.2%) due to an upturn in the worldwide economy and due to customers’ replenishing their inventory levels, which had been kept at low levels due to the global recession and 2) $11,808,491 of revenue from our logistics line of business acquired in January 2010 (no equivalent revenues in 2009).


Friday, November 19, 2010

Internal Controls
Management assessed the effectiveness of our internal control over financial reporting as of March 31, 2010. Based on this assessment, management concluded that the Company did not maintain effective internal controls over financial reporting as a resulted of identified material weakness in our financial reporting.