CHINA DIRECT TRADING (OTC:CHDT)
Industry: Services
China Direct Trading Corporation (CHDT), incorporated in 1986, trades and/or distributes primarily Chinese-made manufactured goods in North America through its operating subsidiaries. During the year ended December 31, 2005, the Company's sole operating, revenue-producing business was its wholly owned subsidiary, Souvenir Direct, Inc. (SDI). CHDT changed its business focus in early 2006 from trading Chinese-made promotional, souvenir and gift items through SDI to emphasize the trading and distributing of commercial and residential standby power generators and building supplies through its subsidiary, Overseas Building Supplies, L.C. (OBS) and its 51% membership interest in William Dato and Complete Power Solutions (CPS), which was acquired in late January 2006. The change in focus was made to achieve higher revenues and profit margins and to pursue a perceived and substantial consumer demand for such products in Florida, the Gulf State Region and adjacent areas. While the Company will continue to operate and grow SDI in 2006, its primary business focus in 2006 will be trading and distributing Chinese-made and Guardian-brand commercial and residential standby power generators and Chinese-made building supplies like roofing tiles. OBS has not yet sold roofing tiles because they are still in the testing process required by local building codes for their sale and use in South Florida. CPS Operations CPS was organized as a limited liability company in 2004 to distribute power generators in Florida and adjacent states. CPS distributes Guardian-brand commercial and residential power generators. Guardian is a brand name of Generac Power Systems, Inc. CPS sells to Home Depot and Lowe's retail stores and local electrical contractors in Florida. CPS faces competition in its market areas from distributors of Guardian-brand commercial and residential standby power generators, as well as rival national brands like Honda Power Systems, Quiet Source, Kohler and Onan. OBS Operations OBS, organized on February 20, 2004, by the Company as a limited liability company, and formerly known as China Pathfinder Fund, LLC, is a start-up company that will trade Chinese-made building supplies in North America. Upon the approval of roofing tiles being tested to establish compliance with Dade County, Florida building code requirements, OBS intends to commence business operations by selling the roofing tiles in Dade County, Florida. OBS intends to expand roofing tile sales up the east coast of Florida as its roofing tiles satisfy local county building code requirements. OBS anticipates that it will receive approval to sell its Chinese-made roofing tiles in mid to late 2006 in Dade County, Florida. Other building supplies, yet to be identified, will be added to OBS product line in late 2006 and in 2007. OBS discontinued its United States-Chinese business development efforts conducted under China Pathfinder Fund, LC in October 2005. China Pathfinder was organized to develop business development services for North American companies in China and Chinese companies in North America and to develop a business in trading commodities internationally and trading non-SDI products in North America and other markets. By late 2005, the Company had concluded that the business development business of China Pathfinder would not produce revenues or profits without an infusion of capital and a larger, full-time staff. The Company concluded that such an investment was unwarranted in light to the potential return and the time required to attaining that return. As such, the Company decided to make China Pathfinder a trading company focused on low-end building supplies made in China for the North American market. The name of China Pathfinder Fund, LLC was changed to Overseas Building Supplies, L.C., in late 2005 to reflect its shift in business lines from business development to trading Chinese-made building supplies. SDI Operations SDI was acquired by the Company in a stock-for-stock exchange on or about December 1, 2003. SDI trades Chinese-manu
As Of: 10/07 00:00 ET
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