v2.4.0.6

Condensed Consolidated Balance Sheets (USD $)	Nov. 30, 2012	Aug. 31, 2012
CURRENT ASSETS:
Cash and cash equivalents	$ 9,032,544	$ 30,410,983
Due from related parties	821,504
Prepayment and other current assets	1,924,991	4,078,038
Total Current Assets	11,779,039	34,489,021
LONG-TERM ASSETS:
Property, plant and equipment, net	82,800,707	82,250,434
Land use rights, net	48,287,475	48,118,088
Total Long-Term Assets	131,088,182	130,368,522
TOTAL ASSETS	142,867,221	164,857,543
CURRENT LIABILITIES:
Accounts Payable	205,510	165,743
Short-term payable-acquisition	15,182,022	32,721,915
Due to related parties		4,550,762
Other Payables	679,606	951,468
Refundable deposits	159,059	134,661
Deferred School Fees	35,381,566	45,902,425
Home purchase down payment	917,809	919,458
Short-term bank loan	7,966,477
Accrued expenses and other current liabilities	1,247,921	1,026,225
Total Current Liabilities	61,739,970	86,372,657
LONG-TERM LIABILITIES:
Long-term bank loan	11,153,068	11,045,539
Long-term payable-acquisition	14,196,740	14,808,754
Total Long-Term Liabilities	25,349,808	25,854,293
TOTAL LIABILITIES	87,089,778	112,226,950
STOCKHOLDERS' EQUITY:
Common Stock, $0.001par value; 75,000,000 shares authorized; 30,069,629 issued and outstanding as of November 30, 2012 and August 31, 2012	30,070	30,070
Additional paid-in capital	163,389	163,389
Retained earnings	52,367,204	49,746,368
Accumulated other comprehensive income	3,216,780	2,690,766
TOTAL STOCKHOLDERS' EQUITY	55,777,443	52,630,593
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 142,867,221	$ 164,857,543

Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer), including liabilities for compensation costs, fringe benefits other than pension and postretirement obligations, rent, contractual rights and obligations, and statutory obligations.

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