NEW YORK, NY--(Marketwire - Jan 25, 2013) - A&C United Agriculture Developing Inc. (OTCQB: ACUG), an international provider of agricultural products wishes to inform its investors of its financial results for the first quarter of fiscal 2013, which ended December 31, 2012.
Highlights of the quarter included: Total revenue during the first quarter was $387,400, which reflects an increase of 117% over the prior quarter's revenue of $178,000. Total revenues for the calendar year ended December 31st totaled $565,085. The Company's balance sheet reflects a cash balance of 399,737 for the quarter ended December 31, 2012 which is a decrease of 6% compared to 425,386 for the quarter ended December 31, 2011.
Complete results may be viewed at http://www.sec.gov/Archives/edgar/data/1539778/000147793213000345/acug_10q.htm
Andy Liu, Executive Officer, stated, "We are proud to report solid sales in the first calendar year of operations. Not many startups are doing 'nice' revenues within the first 6 months, and we are. In regards to the growth of the business, the Asian market is robust and we see that remaining so for the foreseeable future."
A&C United Agriculture Developing Incorporation and its subsidiaries are engaged in standardized vegetable seeds selecting, planting, growing, harvesting, cool chain transportation, and processing. The company has established seed export business with U.S suppliers and plans to expand the sales. The Company plans on selling vegetables to retail and wholesale consumers in China, ASEAN and other global markets, by applying American standard quality control practices with scalability and mechanization. The Company's focus is to build and enhance the entire vegetable production chain complying with local and global food safety requirements from seed to table, year round, with two-way traceability and recall capability. The Company is focused on providing fresh quality products that are easy to use, appetizing and nutritious without compromising quality or harming the environment and ecosystems.
The statements contained in this press release contain certain forward looking statements, including statements regarding the company's expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company's management.