Northport Network Systems, Inc.

CIK:0001374976|SEC Filings

Earnings per Share

9 Months Ended

Sep. 30, 2011

		9/30/2011			9/30/2010
Basic earnings per share numerator
- Net income (loss)	$	(73,077	)	$	33,369
- Net income (loss) attributable to common stockholders		(73,077	)		7,764

Diluted earnings per share numerator	$	(73,077	)	$	7,764

Original shares:		31,700,012			24,200,012
- Weighted issuance of common stock		1,349,630			1,556,029
Basic weighted average shares outstanding		33,049,642			35,756,041

Dilutive shares:
Diluted weighted average shares outstanding:		33,049,642			35,756,041

Earnings (loss) per share
- Basic	$	(0.00	)	$	0.00
- Diluted	$	(0.00	)	$	0.00

Weighted average shares outstanding
- Basic		33,049,642			35,756,041
- Diluted		33,049,642			35,756,041

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
Consolidated Statements of Cash Flows (USD $)	Sep. 30, 2011	Sep. 30, 2010
Statement of Cash Flows [Abstract]
Net Income/(loss)	$ (73,077)	$ 33,369
Adjustments to reconcile net income to net cash provided by / (used in) operating activities
Gain(Loss) on disposal of property and equipment		(1,891)
Gain(Loss) on disposal of subsidiary		(1,210,235)
Non-controlling interest		25,605
Share compensation	56,000	900,000
Impairment of inventory	2,195
Depreciation	59,606	15,194
Imputed interest expense on due to stockholders		8,360
(Increase)/decrease in other receivable	2,309
(Increase)/decrease in prepayments	521,498	86,285
Increase/(decrease) in accounts payables and accruals	(174,809)	(37,726)
Increase/(decrease) in related party payable	(373,857)	(183,630)
Increase/(decrease) in taxes payables	(29)	60,839
Increase/(decrease) in Deferred revenue		2,201
Net cash used in operating activities of discontinued operation		227,798
Net cash provided by / (used in )operating activities	19,836	109,799
Cash flows from investing activities
Net cash inflow from acquisition of subsidiary		104,881
Net cash outflow from disposal of subsidiary		(237,053)
(Increase)/decrease of deposits	18,271
(Increase)/decrease of plant and equipment	(2,624)	608
Net cash used in investing activities	15,647	(131,564)
Cash flows from financing activities
Repayment of shareholders' loan		(183,630)
Proceeds from issuance of common stock		60,000
Issuance of Common Stock		440,115
Net cash used in financing activities		316,485
Net increase (decrease) of cash and cash equivalents	35,483	294,720
Effect of foreign currency translation on cash	(38,387)	(14,371)
Cash & cash equivalents at beginning of year	4,400	29,834
Cash & cash equivalents at end of year	1,496	310,183
Non-cash flow transaction:
Issuance of shares for consultant service	56,000	900,000
Supplementary information
Interest received	178	178
Income taxes paid	$ (29)

Consolidated Balance Sheets (USD $)	Sep. 30, 2011	Dec. 31, 2010
Current assets
Cash and cash equivalents	$ 1,496	$ 4,400
Other receivables	224,273	226,584
Related party receivable	59,617	59,617
Inventory		2,195
Advance to suppliers	269,639	791,137
Total current assets	555,025	1,083,933
Non-current assets
Plant and equipment, net	202,870	259,852
Deposits	50,149	68,420
Total non-current assets	253,019	328,272
Total Assets	808,044	1,412,205
Current liabilities
Accounts payable	25,037	36,712
Other payables and accruals	322,362	485,497
Taxes payable	244	273
Related party payable	559,240	933,098
Total current liabilities	906,883	1,455,580
Total Liabilities	906,883	1,455,580
Stockholders’ Equity
Preferred stock, $0.001 par value, 100,000,000 shares authorized; nil shares issued and outstanding as of September 30, 2011 and December 31, 2010, respectively
Common stock, $0.001 par value, 100,000,000 shares authorized; 34,500,012 and 31,700,012 shares issued ; 32,000,012 and 29,200,012 outstanding as of September 30, 2011 and December 31, 2010, respectively.	34,500	31,700
Additional paid in capital - common stock	2,865,344	2,812,144
Treasury Stock, $0.001 par value, 2,500,000shares issued and outstanding as of September 30, 2011 and December 31, 2010	2,500	2,500
Additional paid in capital - treasury stock	2,997,500	2,997,500
Statutory reserves	58,985	58,985
Retained earnings (accumulated deficits)	(6,346,107)	(6,273,030)
Accumulated other comprehensive income	288,439	326,826
Total stockholders’ equity	(98,839)	(43,375)
Total Liabilities and Stockholders’ Equity	$ 808,044	$ 1,412,205