CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. FORWARD-LOOKING STATEMENTS The following discussion of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and related notes thereto. The following discussion contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "believe," "plan," "intend" or similar expressions are intended to identify "forward-looking statements." Such statements include those concerning expected financial performance, corporate strategy, and operational plans. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties, including: (a) general economic conditions in Hong Kong, Macau and China; (b) regulatory factors in Hong Kong, Macau and China that may lead to additional costs or otherwise negatively affect our business; (c) whether we are able to manage our planned growth efficiently, including whether our management will be able to: (i) identify, hire, train, retain, motivate and manage required personnel or (ii) successfully manage and exploit existing and potential market opportunities; (d) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations; (e) whether we are able to successfully fulfill our primary cash requirements which are explained below under "Liquidity and Capital Resources"; and (f) whether worldwide economic conditions will negatively affect the automobile retail industry in Hong Kong, Macau and China. Statements made herein are as of the date of the filing of this Form 10-Q with the United State...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue37,248  16,428  37,523  33,362  Cost of Revenue32,868  14,674  30,568  28,056  Gross Profit4,381  1,754  6,955  5,306  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative5,155  4,670  6,420  4,302  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(775)(2,916)535  1,004  Income from Continuing OperationsTotal Other Income/Expenses Net343  427  234  327  Earnings Before Interest And Taxes(431)(2,490)769  1,331  Interest Expense214  191  158  151  Income Before Tax(645)(2,681)611  1,181  Income Tax Expense30   -  955   -  Minority Interest -   -  (386)(797)Net Income From Continuing Ops(676)(2,681)(730)384  Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   -   -   ...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 8-K, Change in Directors or Principal Officers

Show all filings for CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. 14-Aug-2009Change in Directors or Principal Officers Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information prov...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. FORWARD-LOOKING STATEMENTS The following discussion of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and related notes thereto. The following discussion contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "believe," "plan," "intend "or similar expressions are intended to identify "forward-looking statements." Such statements include those concerning expected financial performance, corporate strategy, and operational plans. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties, including: (a) general economic conditions in Hong Kong, Macau and China; (b) regulatory factors in Hong Kong, Macau and China that may lead to additional costs or otherwise negatively affect our business; (c) whether we are able to manage our planned growth efficiently, including whether our management will be able to: (i) identify, hire, train, retain, motivate and manage required personnel or (ii) successfully manage and exploit existing and potential market opportunities; (d) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations; (e) whether we are able to successfully fulfill our primary cash requirements which are explained below under "Liquidity and Capital Resources"; and (f) whether worldwide economic conditions will negatively affect the automobile retail industry in Hong Kong, Macau and China. Statements made herein are as of the date of the filing of this Form 10-Q with the United State...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. FORWARD-LOOKING STATEMENTS The following discussion of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and related notes thereto. The following discussion contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," "believe," "plan," "intend "or similar expressions are intended to identify "forward-looking statements." Such statements include those concerning expected financial performance, corporate strategy, and operational plans. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties, including: (a) general economic conditions in Hong Kong, Macau and China; (b) regulatory factors in Hong Kong, Macau and China that may lead to additional costs or otherwise negatively affect our business; (c) whether we are able to manage our planned growth efficiently, including whether our management will be able to: (i) identify, hire, train, retain, motivate and manage required personnel or (ii) successfully manage and exploit existing and potential market opportunities; (d) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations; (e) whether we are able to successfully fulfill our primary cash requirements which are explained below under "Liquidity and Capital Resources"; and (f) whether worldwide economic conditions will negatively affect the automobile retail industry in Hong Kong, Macau and China. Statements made herein are as of the date of the filing of this Form 10-Q with the United State...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial St

Item 1.01 Entry into a Material Definitive Agreement Reformation of Share Exchange Agreement On May 5, 2009, the independent non-executive member of the Board of Directors of China Premium Lifestyle Enterprise, Inc., a Nevada corporation (the "Company"), approved the reformation ("Reformation") of that certain Share Exchange Agreement dated July 15, 2006 among the Company, Fred De Luca, Corich Enterprises, Inc., a British Virgin Islands corporation ("Corich"), Herbert Adamczyk ("Adamczyk" and, together with Corich, the "Sellers") and Technorient Limited, a Hong Kong corporation ("Technorient") (the "Exchange Agreement"). Under the Exchange Agreement, the Company agreed to issue to Sellers and Orient Financial Services, Ltd. ("OFS"), as a designee of the Sellers, an aggregate of 972,728 shares of the Company's purported Series A Convertible Preferred Stock (the "Preferred Shares") in exchange for the Sellers transferring an aggregate of 226,231 shares of the capital stock of Technorient to the Company. Upon conversion, the purported Preferred Shares were to be convertible into 89,689,881 shares (the "Conversion Shares") of the Company's common stock, par value $0.001 per share (the "Common Stock"). The Company has determined that: (i) the amendment to the Company's Articles of Incorporation (the "Articles") dated April 7, 2006, pursuant to which a class of "blank check" preferred stock was purportedly created (the "Amendment") , is invalid and of no force or effect because the Amendment was approved by a majority of the Company's stockholders acting by written consent in contravention of Article II, Section 10 of the Company's By-Laws, which requires that actions taken by written consent of the Company's stockholders be unanimous; and (ii) the Certificate of Designation dated August 16, 2006 (the "Certificate of Designation"), p...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 10-K, Annual Report

Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION This section contains forward-looking statements. These forward-looking statements are subject to various factors, risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Further, as a result of these factors, risks and uncertainties, the forward-looking events may not occur. Relevant factors, risks and uncertainties include, but are not limited to, those discussed in "Item 1. Description of Business," "Item 1A. Risk Factors" and elsewhere in this Report. Readers are cautioned not to place undue reliance on forward-looking statements, which reflect management's beliefs and opinions as of the date of this Report. We are not obligated to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. See "Forward-Looking Statements." GENERAL China Premium Lifestyle Enterprise, Inc. is in the business of importation, distribution and sales of premium brand luxury products in Hong Kong, Macau and China. Currently, the Company's main business is its ownership interest in Technorient, a Hong Kong corporation. Through its subsidiaries, Technorient's business consists mainly of the importation, distribution, and after-sales service of Italian "Ferrari" and "Maserati" branded cars and spare parts in Hong Kong, Macau and the distribution of "Ferrari" and "Maserati" branded cars and spare parts in China. In January 2008, the Company entered into an agreement with Falber Confezioni, S.r.l. to become the sole importer and distributor of "John Richmond", "Richmond X" and "Richmond Denim" clothing for men and women in Hong Kong, Macau, Taiwan and in China commencing in the Spring/Summer season of 2008 and ending in the Fall/Winter season of 2012....
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 8-K, Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) On February 25, 2009, the Board of Directors of China Premium Lifestyle Enterprise, Inc. (the "Company") elected Nils A. Ollquist, age 52, to the Board of Directors of the Company to hold office for a period of six (6) months from the date of his election. Mr. Ollquist's appointment may be extended by mutual consent or earlier terminated if he resigns or is otherwise removed by the Company. Mr. Ollquist, who holds degrees in economics and law from the Australian National University at Canberra, is Managing Director and a Principal of OFS Capital Group Ltd., an international merchant banking firm providing listing and capital raising services for clients through offices in the U.S., Hong Kong, Switzerland and India. Prior to founding OFS Capital Group Ltd., Mr. Ollquist served as head of Bank of America's mergers & acquisitions group for Asia based in San Francisco and subsequently Hong Kong. Prior to his career in banking, Mr. Ollquist served as a senior executive in the Australia Federal Treasury, including a term as Senior Executive Assistant to the then Treasury Secretary. Mr. Ollquist will receive $5,000 per month for his service on the Company's Board of Directors, and is entitled to be reimbursed for reasonable and necessary business and entertainment expenses properly incurred in connection with carrying out his duties as a Director. The Company is currently not required to, and does not, have an audit committee or compensation committee. As a Director, Mr. Ollquist will participate in carrying out the functions ordinarily handled by these committees, which are currently handled by the entire Board of Directors. There is no prior arrangement or understanding between Mr. Ollquist and any other person pursuant to which he was selected to be a member of the Board of Directors of the Company. Th...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 10-K/A, Annual Report

Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION FORWARD-LOOKING STATEMENTS The following discussion of our financial condition and results of operations should be read in conjunction with the consolidated financial statements and related notes thereto. The following discussion contains forward-looking statements. China Premium Lifestyle Enterprise, Inc. is referred to herein as "we" or "our." The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Such statements include those concerning expected financial performance, corporate strategy, and operational plans. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties, including: (a) general economic conditions in Hong Kong, Macau and China; (b) regulatory factors in Hong Kong, Macau and China that may lead to additional costs or otherwise negatively affect our business; (c) whether we are able to manage our planned growth efficiently, including whether our management will be able to: (i) identify, hire, train, retain, motivate and manage required personnel or (ii) successfully manage and exploit existing and potential market opportunities; (d) whether we are able to generate sufficient revenues or obtain financing to sustain and grow our operations; (e) whether we are able to successfully fulfill our primary cash requirements which are explained below under "Liquidity and Capital Resources"; and (f) whether worldwide economic conditions will negatively affect the automobile retail industry in Hong Kong, Macau and China. Statements made herein are as of the date of the filin...
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CHINA PREMIUM LIFESTYLE ENTERPRISE, INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial St

Item 1.01. Entry into a Material Definitive Agreement. On November 7, 2008, China Premium Lifestyle Enterprise, Inc., through its 49% indirectly owned entity, Auto Italia Limited (the "Company"), entered into a Lease Agreement (the "Agreement") with Koon Ngai Company Limited (the "Lessor") whereby the Company agreed to lease certain commercial properties at Koon Wah Mirror Group Building ("building"), Hong Kong (the "premises"). Pursuant to the Agreement, the Company has the right to take possession of several units on the premises as described in the Agreement commencing on September, 1, 2008 and as such units become vacant. The Company currently has possession of Units C and G on the ground floor and expects to take possession of (and will commence rental payments on) the remaining units as they become available. The lease term and monthly rental for the premises are set forth in the following table: (1) Commencement date will be subject to vacancy of unit and confirmation by Lessor. (2) There will be a rent free period of 90 days from 1 September to 29 November 2008. During such rent free period, the Lessee will be required to pay rates, government rent and management fees. (3) All rents are due in Hong Kong dollars and presented here in U.S. dollars for the convenience of the reader at an exchange rate of HK$7.8 to US$1. (4) Lessee shall enjoy a rent free period. During such rent free period, the Lessee will be required to pay rates, government rent and management fees. The number of days in the rent free period to be enjoyed for each unit equals 90 days multiplied by the term of occupation (calculated up to and including August 31, 2012) divided by 1,460. Commencing on September 1, 2015, the rent for the premises will be set by mutual agreement of the Company and the Lessor and will be based on the market value of the rental for each of the units (the "open market rental"). In ...
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