UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC D.C. 20549

FORM 10-K

[X]	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED JULY 31, 2010
[ ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM____________________TO____________________

[ X ] Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

~~Commission~~For ~~file~~the ~~number~~fiscal ~~000-53481~~year ended December 31, 2010

~~AURUM~~[ ~~EXPLORATIONS,~~] ~~INC.~~Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from _____________________ to ____________________

Greatmat Technology Corporation

(Exact name of registrant as specified in its charter)

Nevada	68000-~~0681042~~53481	68-0681042
(State or other jurisdiction of	(I.R.S. Employer
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification No.)
incorporation or organization)	Identification No.)
Suite 903 Allied Kajima Building 138 Gloucester Road Wanchai, Hong Kong	N/A
(Address of principal executive offices)	(Zip code)

~~Registrant’s~~Room ~~telephone number~~3202-03, ~~including area code: + (852) 2591 1221~~32/F,

148 Electric Road, North Point, Hong Kong

(Address of principal executive offices)

Telephone – 852-2891-2111

Securities registered pursuant to Section 12(b) of the Exchange Act: None

Securities registered pursuant to Section 12(g) of the Exchange Act: Common Stock, $0.001 par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ¨ No x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act: Yes ¨ No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 day. Yes ~~x No~~ ¨No x

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ¨ No ¨x

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulations S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

Page - 1

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 if the Exchange Act.

Large Accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨	Smaller reporting company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes ¨ x No ¨x

~~The~~Table ~~aggregate market value~~ of the Registrant’s voting and non-voting common equity held by non-affiliates as of January 29, 2010 was $61,084.80, based on 3,360,000 shares of common stock held by non-affiliates valued at $.01818 per share, the last known sale price of the Registrant’s common stock.Contents

AsThe ofaggregate ~~October~~market 1,value ~~2010,~~of the ~~registrant~~Registrant’s voting ~~had~~and non-voting common equity held by non-affiliates as of April 8,~~860~~ 2013 was $0,~~000~~ based on 0 shares of common stock ~~outstanding~~held by non-affiliates valued at $0 per share, the last known sale price of the Registrant’s common stock.

~~Page~~As -of 2April 8, 2013, the registrant had 1,464,530 shares of common stock outstanding.

TABLE OF CONTENTS
		Page
	PART I
Item 1.	Business.	4
Item 1A.	Risk Factors.	4
Item 1B.	Unresolved Staff Comments.	10
Item 2.	Properties.	10
Item 3.	Legal Proceedings.	10
	PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholders Matters and	11
	Issuer Purchases of Equity Securities.	11
Item 6.	Selected Financial Data.	11
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	11
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk.	14
Item 8.	Financial Statements and Supplementary Data.	15
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.	32
Item 9A.	Controls and Procedures.	32
Item 9B.	Other Information.	33
	PART III
Item 10.	Directors, Executive Officers and Corporate Governance.	33
Item 11.	Executive Compensation.	35
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.	36
Item 13.	Certain Relationships and Related Transactions, and Director Independence.	36
Item 14.	Principal Accountant Fees and Services.	37
	PART IV
Item 15.	Exhibits and Financial Statement Schedules.	38

~~Page~~Table -of 3Contents

TABLE OF CONTENTS

		Page

	PART I
Item 1.	Business.	5
Item 1A.	Risk Factors.	19
Item 1B.	Unresolved Staff Comments.	27
Item 2.	Properties.	27
Item 3.	Legal Proceedings.	27
Item 4.	Mine Safety Disclosures.	27

	PART II
Item 5.	Market for Registrant’s Common Equity, Related Stockholders Matters and Issuer Purchases of Equity Securities.	28
Item 6.	Selected Financial Data.	28
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations.	28
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk.	38
Item 8.	Financial Statements and Supplementary Data.	38
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.	39
Item 9A.	Controls and Procedures.	39
Item 9B.	Other Information.	40

	PART III
Item 10.	Directors, Executive Officers and Corporate Governance.	41
Item 11.	Executive Compensation.	43
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.	44
Item 13.	Certain Relationships and Related Transactions, and Director Independence.	44
Item 14.	Principal Accountant Fees and Services.	45

	PART IV
Item 15.	Exhibits and Financial Statement Schedules.	46

SIGNATURES		47

Table of Contents

Explanatory Notes

In this Annual Report on Form 10-K, the terms “we,” “us,” “our company,” “our”, or “registrant” refer to Greatmat Technology Corporation, formerly known as Aurum Explorations, Inc., a Nevada company, its subsidiaries Greatmat Holdings Limited, a company incorporated under the laws of the BVI, Greatmat Technology Limited, a wholly-owned subsidiary of Greatmat Holdings which is incorporated under the laws of Hong Kong, Greatmat Technology (HK) Limited, a wholly-owned subsidiary of Greatmat Holdings which is incorporated under the laws of Hong Kong, and Greatmat Technology (China) Limited, a wholly-owned subsidiary of Greatmat Holdings which is incorporated under the laws of the BVI. Greatmat Limited, Greatmat Hong Kong and Greatmat China are sometimes collectively referred to herein as the “Operating Subsidiaries.”

Table of Contents

PART I.

ITEM 1. BUSINESS.

General Introduction

~~Aurum~~Greatmat ~~Explorations,~~Technology ~~Inc.~~Corporation (~~“Aurum”,~~the “weCompany”, or “usGreatmat Technology”), ~~“our”~~formerly orknown ~~the~~as Aurum Explorations, Inc. (“~~Company~~Aurum”), was incorporated in the State of Nevada on April 27, 2007. The Company was originally formed for the purpose of acquiring exploration and development stage natural resources properties. ~~The~~ On October 30, 2010, the Company ~~had~~completed ~~been~~an acquisition of Greatmat Holdings Limited (“Greatmat Holdings”), a BVI company, and its subsidiaries, pursuant to a Share Exchange Agreement among the Company, the sole shareholder of the Company, Greatmat Holdings, and the sole director of Greatmat Holdings (the “Share Exchange Agreement”). The acquisition was a reverse acquisition in accordance with ASC 805-40 “Reverse Acquisitions” (the ~~exploration~~“Reverse ~~stage~~Acquisition’). The ~~since~~legal ~~its~~parent ~~incorporation~~is Aurum, which was the accounting acquiree while the Greatmat group of companies was the accounting acquirer. There was no non-controlling interest after the acquisition. This transaction was accounted for as a recapitalization effected by a share exchange, wherein Greatmat Holdings is considered the acquirer for accounting and ~~had~~financial ~~not~~reporting ~~yet~~purposes. ~~realized~~The assets ~~any~~and ~~revenue~~liabilities ~~from~~of ~~its~~the ~~planned~~acquired ~~operations~~entity have been brought forward at their book value and no goodwill has been recognized.

InAs ~~July~~a ~~2009~~result of the acquisition, ~~there~~our ~~was~~consolidated asubsidiaries include ~~change~~Greatmat inHoldings ~~control~~Limited (“Greamat Holdings”), our wholly-owned subsidiary which is incorporated under the laws of the ~~Company. Thereafter~~BVI, ~~the~~Greatmat ~~Company~~Technology ~~became~~Limited(“Greatmat ~~dormant~~Limited”), ~~and~~a iswholly-owned ~~now~~subsidiary ~~actively~~of ~~identifying~~Greatmat aHoldings ~~business~~which is ~~combination~~incorporated ~~through~~under the ~~acquisition~~laws of Hong Kong, orGreatmat ~~merger~~Technology ~~with~~(HK) Limited(“Greatmat Hong Kong” or “Greatmat”), a anwholly-owned ~~operating~~subsidiary ~~business.~~of ~~The~~Greatmat ~~Company~~Holdings ~~now~~which ~~maintains~~is ~~its~~incorporated ~~principal~~under ~~executive~~the ~~office~~laws atof ~~Suite~~Hong ~~903~~Kong, ~~Allied~~and ~~Kajima~~Greatmat ~~Building~~Technology (China) Limited(“Greatmat China”), ~~138~~a ~~Gloucester~~wholly-owned ~~Road,~~subsidiary ~~Wanchai~~of Greatmat Holdings which is incorporated under the laws of the BVI. Greatmat Limited, Greatmat Hong Kong, and Greatmat China are sometimes collectively referred to herein as the “Operating Subsidiaries.”

~~The~~On ~~Company~~December is22, ~~now a “blank check” company. The SEC defines those companies as "any development stage company that is issuing a penny stock~~2010, ~~within~~ the ~~meaning~~Company offiled ~~Section~~the ~~3(a)~~Amendment ~~(51)~~ of the ~~Securities~~Company’s ~~Exchange~~Articles ~~Act~~ of ~~1934~~Incorporation, aspursuant ~~amended (the “Exchange Act”), and that has no specific business plan or purpose, or has indicated that its business plan is~~ to ~~merge~~which ~~with an unidentified company or companies." Many states have enacted statutes, rules and regulations limiting~~ the ~~sale~~name of ~~securities~~the ~~of "blank check" companies in their respective jurisdictions. The~~ Company iswas ~~also~~changed afrom “~~shell~~Aurum ~~company~~Explorations, Inc.” ~~defined~~to in“Greatmat ~~Rule~~Technology ~~12b-2~~Corporation,” ~~under~~ the ~~Exchange~~number ~~Act~~of asauthorized ashares ~~company~~of ~~with~~common nostock orof ~~nominal~~the ~~assets~~Company ~~(other~~was increased ~~than~~from ~~cash)~~50,000,000 ~~and no or nominal operations. Management does not intend~~ to ~~undertake any efforts to cause a market to develop in our securities~~100, ~~either debt or equity~~000,000, ~~until~~and wethe ~~have~~outstanding ~~successfully~~shares ~~concluded~~of acommon ~~business~~stock ~~combination.~~of ~~The~~the Company ~~intends~~were tocombined ~~comply~~in ~~with~~a ~~the periodic reporting requirements of the Exchange Act~~ 1-for-5 reverse sostock ~~long~~split aseffective weDecember ~~are~~28, ~~subject to those requirements~~2010.

~~The~~Business Company is actively seeking a business combination with an operating business that seeks the perceived advantages of being a publicly held corporation. The Company’s principal business objective for the near term will be to achieve long-term growth potential through such a business combination. The Company will not restrict its potential candidate target companies to any specific business, industry or geographical location and, thus, may acquire any type of business.Operations

~~Competition~~Overview

~~The~~Greatmat ~~Company~~was ~~faces~~established ~~vast~~in ~~competition~~May ~~from~~2004 ~~other~~and ~~shell companies with the same objectives. The Company~~ is in a ~~highly~~leading innovative ~~competitive~~building ~~market~~material ~~for~~company athat ~~small~~provides ~~number~~customers ofwith ~~business~~customized ~~opportunities~~designs, ~~which~~manufacturing ~~could~~solutions ~~reduce~~and ~~the~~technical ~~likelihood~~advice for ofbuilding ~~consummating~~projects. aIn ~~successful~~particular, ~~business~~Greatmat ~~combination.~~is Aa ~~large~~supplier ~~number~~ of ~~established and well~~high-~~financed~~quality ~~entities,~~engineered ~~including~~stone ~~small~~floor ~~public companies~~ and ~~venture~~wall ~~capital~~surfaces ~~firms,~~to ~~are~~commercial construction ~~active~~projects in ~~mergers~~China, ~~and~~Hong ~~acquisitions~~Kong ofand ~~companies~~elsewhere ~~that~~in ~~may be desirable target candidates for us~~Asia. ~~Nearly~~Our ~~all~~principal ~~these~~business ~~entities~~consists ~~have~~of ~~significantly~~the ~~greater financial resources~~design, ~~technical~~research ~~expertise~~and development and ~~managerial~~production ~~capabilities~~of ~~than~~engineered westone ~~do;~~for ~~consequently,~~installation ~~we will be at a competitive disadvantage~~ in ~~identifying~~construction ~~possible business opportunities and successfully completing a business combination~~projects. ~~These~~Our ~~competitive~~company ~~factors~~headquarters ~~may~~and ~~reduce~~main ~~the~~sales ~~likelihood~~office ofis located ~~our~~in ~~identifying~~Hong ~~and consummating a successful business combination~~Kong.

~~Employees~~Greatmat possesses a strong research and development team to help develop new solutions and innovative designs. We are often sought after by major property developers who want a unique material appearance for their flooring and exterior walls, typically in exclusive shopping centers around Asia. The Company designs, produces, sells and services all of its finished products. Project after project, the Company keeps coming up with unique finishing materials for ever-demanding property developers in Asia. After years in the building material industry, Greatmat has built a reputation in the region for having one of the highest quality standards in the field.

WeIn ~~have~~2005, noGreatmat ~~employees~~was awarded a grant from the Hong Kong Innovative Technology Fund for creating a new environmentally-friendly solution which could be applied to the walls, flooring and ~~our~~exterior ~~management~~of ~~devotes~~commercial ~~only~~buildings. In 2009, the Company was also awarded a ~~limited~~Hong ~~amount~~Kong ofAward ~~time~~for Environmental Excellence. Greatmat has successfully completed numerous signature projects in Hong Kong, Japan, Singapore and China for blue-chip clients such as Swire Properties, Sino Group, the Hong Kong Jockey Club, Sun Hung Kei Properties, Hang Lung Properties, and Shui On Properties, just to ~~our~~name ~~business~~a few. We maintain a website at http://www.greatmat.com, which is not incorporated into this Report.

~~ITEM 1A. RISK FACTORS.~~5

~~You~~Table should carefully review and consider the following risks as well as all other information contained in this Annual Report on Form 10-K, including our financial statements and the notes to those statements. The following risks and uncertainties are not the only ones facing us. Additional risks and uncertainties of which we are currently unaware or which we believe are not material also could materially adversely affect our business, financial condition, results of operations, or cash flows. To the extent any of the information contained in this annual report constitutes forward-looking information, the risk factors set forth below are cautionary statements identifying important factors that could cause our actual results for various financial reporting periods to differ materially from those expressed in any forward-looking statements made by or on our behalf and could materially adversely affect our financial condition, results of operations or cash flows.Contents

~~Page~~Greatmat -Flooring 4on Display in Disneyland Hong Kong

~~There~~Our ~~may~~Corporate beHistory ~~conflicts of interest between our management~~ and ~~our non-management stockholders.~~Background

~~Conflicts~~The ofCompany ~~interest~~was ~~create~~originally ~~the~~incorporated ~~risk~~under ~~that management may have an incentive to act adversely to~~ the ~~interests~~ laws of the ~~Company.~~State ~~A conflict~~ of ~~interest~~Nevada ~~may~~on ~~arise~~April ~~between~~27, ~~our~~2007. ~~management's~~Prior ~~personal pecuniary interest and its fiduciary duty~~ to our ~~stockholders.~~reverse Inacquisition ~~addition,~~of ~~our~~Greatmat ~~management~~Holdings, iswe ~~currently~~had ~~involved~~originally ~~with~~intended ~~other~~to acquire ~~blank~~exploration ~~check companies,~~ and indevelopment ~~the~~stage ~~pursuit~~natural ofresource ~~business~~properties. ~~combinations,~~The ~~conflicts~~Company ~~with~~acquired ~~such~~the ~~other~~mineral ~~blank~~rights ~~check~~to ~~companies~~one ~~with~~ property which itsubsequently ~~is,~~reverted ~~and~~before ~~may in~~ the ~~future~~Company ~~become,~~began ~~affiliated,~~mining ~~may arise~~operations. IfIn weJuly ~~and~~2009, ~~the~~there ~~other~~was ~~blank~~a ~~check~~change ~~companies~~in ~~that~~control ~~our~~of ~~management~~the isCompany. Thereafter, ~~affiliated~~the ~~with~~Company ~~desire~~became todormant ~~take~~and ~~advantage~~began ofactively ~~the~~seeking ~~same~~a ~~opportunity,~~business ~~then~~combination ~~those~~through ~~members~~the acquisition of, ~~management~~or ~~that are affiliated~~ merger with, ~~both~~an ~~companies~~operating ~~would~~business. ~~abstain~~From ~~from~~July ~~voting~~2009 ~~upon~~until the ~~opportunity.~~Reverse InAcquisition, the ~~event~~Company ofwas ~~identical~~inactive ~~officers~~ and ~~directors,~~was ~~the~~a ~~officers~~“shell ~~and directors will arbitrarily determine the~~ company” as ~~that~~defined ~~will~~in beRule ~~entitled~~12b-2 tounder ~~proceed with~~ the ~~proposed~~Exchange ~~transaction~~Act.

WeAs ~~have~~a result of our reverse acquisition of Greatmat Holdings, we are no longer a ~~limited~~shell ~~operating~~company ~~history~~and active business operations were revived.

WeAcquisition have a limited operating history and no revenues or earnings from operations since inception, and there is a risk that we will be unable to continue as a going concern and consummate a business combination. We have no significant assets or financial resources. We will, in all likelihood, sustain operating expenses without corresponding revenues, at least until the consummation of aGreatmat merger or other business combination with a private company. This may result in our incurring a net operating loss that will increase unless we consummate a business combination with a profitable business. We cannot assure you that we can identify a suitable business opportunity and consummate a business combination, or that any such business will be profitable at the time of its acquisition by us or ever.Holdings

WeOn ~~have~~October ~~incurred~~30, 2010, we completed a reverse acquisition transaction through a share exchange with Greatmat Holdings and ~~may~~its ~~continue~~sole toshareholder, ~~incur~~whereby ~~losses~~we acquired 100% of the issued and outstanding capital stock of Greatmat Holdings in exchange for 36,560,700 shares of our Common Stock, which constituted 75.0% of our issued and outstanding capital stock as of and immediately after the consummation of the reverse acquisition. As a result of the reverse acquisition, Greatmat Holdings became our wholly-owned subsidiary and the former shareholder of Greatmat Holdings became our controlling stockholder. The share exchange transaction with Greatmat Holdings and its shareholder, or Share Exchange, was treated as a reverse acquisition, with Greatmat Holdings as the acquirer and the Company as the acquired party for accounting purposes. Unless the context suggests otherwise, when we refer in this

Since inception (April 27, 2007) through July 31, 2010, we have incurred a net loss of $180,391. We expect that we will incur losses at least until we complete a merger or other business combination with an operating business and perhaps after such a combination as well. There can be no assurance that we will complete a merger or other business combination with an operating business or that we will ever be profitable.6

WeTable ~~face a number~~ of ~~risks associated with potential acquisitions.~~Contents

We ~~intend~~report to ~~use reasonable efforts to complete a merger or other~~ business ~~combination~~and ~~with~~financial aninformation ~~operating~~for ~~business.~~periods prior ~~Such combination will be accompanied by risks commonly encountered in acquisitions, including, but not limited~~ to, ~~difficulties in integrating~~ the ~~operations,~~consummation ~~technologies, products and personnel~~ of the ~~acquired~~reverse ~~companies~~acquisition, ~~and~~we ~~insufficient~~are ~~revenues~~referring to ~~offset~~the ~~increased~~business ~~expenses associated with acquisitions. Failure to manage~~ and ~~successfully~~financial ~~integrate~~information ~~acquisitions~~of weGreatmat ~~make could harm our business, our strategy~~ Holdings and ~~our~~its ~~operating~~consolidated ~~results in a material way~~subsidiaries.

~~There~~Immediately isprior ~~competition~~to ~~for~~the ~~those~~Share ~~private~~Exchange, ~~companies~~the ~~suitable~~common stock ~~for~~of aGreatmat ~~merger~~Holdings ~~transaction~~was ofsolely owned by Chris Yun Sang SO, the ~~type~~founder ~~contemplated~~and bychief ~~management~~executive officer of Greatmat.

~~The~~Upon ~~Company~~the isclosing inof athe ~~highly~~reverse ~~competitive~~acquisition, ~~market~~Yau-sing TANG, ~~for~~Aurum’s asole ~~small~~director ~~number~~and ofofficer, ~~business~~submitted ~~opportunities~~a ~~which~~resignation ~~could~~letter ~~reduce~~pursuant ~~the~~to ~~likelihood~~which ofhe ~~consummating~~resigned afrom ~~successful~~all ~~business~~offices ~~combination.~~that he Weheld ~~are,~~effective immediately and ~~will~~from ~~continue~~his toposition ~~be,~~as anour ~~insignificant~~director ~~participant~~that inbecame effective on the ~~business~~tenth day following the mailing by us of ~~seeking~~an ~~mergers~~information ~~with~~statement, ~~joint~~or ~~ventures~~the Information Statement, to our stockholders that complies with ~~and~~the ~~acquisitions~~requirements of ~~small~~Section 14f-1 ~~private~~of ~~and~~the ~~public~~Exchange ~~entities~~Act. AIn ~~large~~addition, ~~number~~our board of ~~established~~directors ~~and~~on ~~well-financed~~October ~~entities~~30, ~~including~~2010 ~~small~~increased ~~public~~the ~~companies~~size of the board of directors to three directors and ~~venture~~appointed ~~capital~~Chris ~~firms~~Yun Sang SO, ~~are~~Carol ~~active~~Lai inPing ~~mergers~~HO and ~~acquisitions~~Rick ofChun ~~companies~~Wah ~~that~~TSE ~~may~~to befill ~~desirable~~the ~~target~~vacancies ~~candidates~~created ~~for~~by ~~us.~~such resignation ~~Nearly~~and ~~all~~increase ~~these~~in ~~entities~~the ~~have~~size ~~significantly~~of ~~greater~~the ~~financial resources~~board, ~~technical~~which ~~expertise~~appointments ~~and~~became ~~managerial~~effective ~~capabilities~~upon ~~than~~the weeffectiveness ~~do;~~of ~~consequently,~~the weresignation of ~~will~~Yau-sing beTANG aton athe ~~competitive~~tenth ~~disadvantage~~day infollowing ~~identifying~~the ~~possible~~mailing ~~business~~by ~~opportunities~~us ~~and~~of ~~successfully~~the ~~completing~~Information aStatement ~~business~~to ~~combination~~our stockholders. ~~These~~In ~~competitive~~addition, ~~factors~~our sole ~~may~~executive ~~reduce~~officer Yau-sing TANG was replaced upon the ~~likelihood~~closing of ~~our~~the ~~identifying~~reverse ~~and~~acquisition ~~consummating~~as aindicated ~~successful~~in ~~business~~more ~~combination~~detail below.

~~Page~~As -a 5result of our acquisition of Greatmat Holdings, we now own all of the issued and outstanding capital stock of Greatmat Holdings, which in turn owns all of the issued and outstanding capital stock of Greatmat Limited, Greatmat Hong Kong and Greatmat China, our operating subsidiaries.

~~Future~~Greatmat ~~success~~Limited iswas ~~highly~~established ~~dependent~~in onHong Kong in September 2010. Greatmat Hong Kong was established in Hong Kong in May 2004. Greatmat China was established in the ~~ability~~British ofVirgin ~~management~~Islands in December 2008. Greatmat Holdings was established in the British Virgin Islands in July 2010 to ~~locate~~serve as an intermediate holding company. Greatmat Holdings currently owns 100% of Greatmat Limited, Greatmat Hong Kong and ~~attract~~Greatmat aChina. ~~suitable~~Chris ~~acquisition~~Yun Sang SO currently serves as the sole director of each of Greatmat Holdings, Greatmat Limited and Greatmat Hong Kong, and Greatmat Holdings currently serves as the sole director of Greatmat China.

~~The~~Subsequent nature of our operations is highly speculative, and there is a consequent risk of loss of your investment. The success of our plan of operation will depend to a great extent on the operations, financial condition and management of the identified business opportunity. While management intends to seek business combination(s) with entities having established operating histories, we cannot assure you that we will be successful in locating candidates meeting that criterion. In the event we complete a business combination, the success of our operations may be dependent upon management of the successor firm or venture partner firm and numerous other factors beyond our control.development

~~Management~~1. ~~intends~~On toSeptember ~~devote~~21, ~~only~~2011, athe ~~limited~~Company ~~amount~~was ofre-domiciled from ~~time~~State toof ~~seeking~~Nevada ~~a target company which may adversely impact our ability~~ to ~~identify~~the aCayman ~~suitable acquisition candidate~~Islands.

~~While~~2. ~~seeking~~On aDecember ~~business~~30, ~~combination~~2011, ~~management~~the ~~anticipates~~Company ~~devoting~~approved ~~very~~to ~~limited~~dispose the ~~time~~three tosubsidiaries ~~the~~including ~~Company's~~Greatmat ~~affairs.~~Technology ~~Our~~Limited, ~~officer~~Greatmat ~~has~~Technology ~~not~~(HK) ~~entered~~Limited ~~into~~and aGreatmat ~~written~~Technology ~~employment~~(China) Limited ~~agreement~~by ~~with~~transferring us100% ~~and~~of isthe ~~not~~outstanding ~~expected~~equity tocapital doof sothese inthree ~~the~~companies ~~foreseeable~~being ~~future.~~held ~~This~~by ~~limited~~Greatmat ~~commitment~~Holdings ~~may~~Limited to ~~adversely~~Mr. ~~impact~~Chris ~~our~~Yun ~~ability~~Sang toSo ~~identify~~in ~~and~~consideration ~~consummate~~of aHK$1, ~~successful~~HK$10,000 ~~business~~and ~~combination~~US$1, respectively.

~~There~~3. ~~can~~On beDecember no30, ~~assurance~~2011, ~~that~~Great Holdings Limited entered into a Damages Agreement with Yunfu City Yuncheng District Changyi Stone Factory (“YCYDCSF”) to bear all the ~~Company~~damages of ~~will~~RMB ~~successfully~~5,000,000 ~~consummate~~per year to YCYDCSF according to Clause 2.10 of Exclusive Manufacturing Agreement dated June 30, 2004 filed as Exhibit 10.1, Form 8-K on November 3, 2010. Greatmat Holdings Limited also entered into a ~~business~~Supplementary ~~combination~~Agreement on the Exclusive Manufacturing Agreement and the Extension of the Original Agreement with YCYDCSF to extend the expiration date of the Exclusive Manufacturing Agreement from June 30, 2009 to June 30, 2014.

We4. ~~can~~On ~~give~~July no30, ~~assurances~~2012, ~~that~~the weCompany ~~will~~approved ~~successfully~~Share ~~identify~~Exchange Agreement ~~and~~between ~~evaluate~~the ~~suitable~~Company ~~business~~and ~~opportunities~~Mr. orChris ~~that~~Yun weSang ~~will conclude a business combination~~So. ~~Management~~According ~~has~~to ~~not~~the ~~identified~~Share ~~any~~Exchange ~~particular~~Agreement, ~~industry~~Mr. orSo ~~specific~~transferred ~~business~~all ~~within~~the Company ancommon ~~industry~~stock ~~for~~held ~~evaluation.~~by Wehim ~~cannot~~to ~~guarantee~~the ~~that~~Company wein ~~will~~consideration beof ~~able~~100% tocommon ~~negotiate~~stock aof ~~business~~Greatmat ~~combination~~Holdings onLimited, ~~favorable~~through ~~terms~~an oral agreement.

~~The~~Our ~~time~~Corporate ~~and cost of preparing a private company to become a public reporting company may preclude us from entering into a merger or acquisition with the most attractive private companies.~~Structure

~~Target~~All ~~companies~~of ~~that~~our ~~fail~~business tooperations ~~comply~~are ~~with~~conducted ~~SEC~~through our ~~reporting~~Hong ~~requirements~~Kong ~~may~~and ~~delay~~BVI ~~or preclude acquisition~~subsidiaries. ~~Sections~~The 13chart ~~and~~below ~~15(d)~~presents ofour ~~the~~corporate ~~Exchange~~structure. ~~Act~~We ~~require~~conduct ~~reporting~~business ~~companies~~in toChina ~~provide~~through ~~certain information about significant acquisitions~~Greatmat China, ~~including~~we ~~certified~~conduct ~~financial~~business ~~statements~~in ~~for~~Hong ~~the~~Kong ~~company~~through ~~acquired,~~Greatmat ~~covering~~Hong ~~one~~Kong, ~~two, or three years, depending on the relative size of the acquisition. The time~~ and ~~additional~~we ~~costs~~conduct ~~that~~business ~~may~~in beall ~~incurred~~other byexport ~~some~~markets ~~target~~through Greatmat ~~entities to prepare these statements may significantly delay or essentially preclude consummation of an acquisition~~Limited. Otherwise suitable acquisition prospects that do not have or are unable to obtain the required audited statements may be inappropriate for acquisition so long as the reporting requirements of the Exchange Act are applicable.

~~The Company may be subject to further government regulation which would adversely affect our operations.~~7

~~Although~~Table ~~we are subject to the reporting requirements under the Exchange Act, management believes we are not subject to regulation under the Investment Company Act~~ of 1940, as amended (the “Investment Company Act”), since we are not engaged in the business of investing or trading in securities. If we engage in business combinations which result in our holding passive investment interests in a number of entities, we could be subject to regulation under the Investment Company Act. If so, we would be required to register as an investment company and could be expected to incur significant registration and compliance costs. We have obtained no formal determination from the SEC as to our status under the Investment Company Act and, consequently, violation of the Investment Company Act could subject us to material adverse consequences.Contents

~~Page~~Our -Industry 6and Principal Markets:

~~Any~~The ~~potential~~Chinese ~~acquisition~~economy orhas ~~merger~~grown ~~with~~by leaps and bounds since the PRC government introduced economic reforms in the late nineteen seventies. From the mid nineteen nineties onward, China became one of the fastest growing economies in the world. China’s GDP growth has since been the envy of the world and one of the main engines driving its growth is in the area of infrastructure, renovation and real estate development, as these sectors exceeded the growth rate of the general GDP by a ~~foreign~~substantial ~~company~~margin. ~~may~~Correspondingly, ~~subject~~the usgrowth toin ~~additional~~sales ~~risks~~of building materials in China also outstripped GDP growth during the same period.

IfAccording weto ~~enter~~the ~~into~~Economic ~~a business combination with a foreign company~~Times, weChina ~~will~~is ~~be subject~~ projected to ~~risks~~overtake ~~inherent in business operations outside of~~ the ~~United States~~U.S. ~~These~~as ~~risks~~the ~~include,~~world’s ~~for~~largest ~~example,~~construction ~~currency~~market ~~fluctuations,~~by ~~regulatory~~2018. ~~problems,~~In ~~punitive~~the ~~tariffs,~~next ~~unstable~~ten ~~local tax policies~~years, ~~trade~~China’s ~~embargoes,~~construction market ~~risks~~is ~~related~~projected to ~~shipment~~be ofworth ~~raw~~about ~~materials~~$2.4 ~~and~~trillion ~~finished goods across national borders~~ and ~~cultural~~represent ~~and language differences~~19.1% ~~Foreign~~of ~~economies~~global ~~may~~construction ~~differ~~output. ~~favorably~~Despite orIndia’s ~~unfavorably~~continued construction ~~from the United States economy in growth of gross national product~~boom, ~~rate~~China’s ofconstruction ~~inflation,~~ market ~~development,~~is ~~rate~~still ofprojected ~~savings,~~to ~~and~~be ~~capital~~three ~~investment,~~or ~~resource~~four ~~self-sufficiency~~times ~~and~~larger ~~balance~~than ofIndia’s ~~payments~~at the ~~positions,~~end ~~and~~of inthe ~~other~~next ~~respects~~decade.

~~The~~At ~~Company~~the ~~may~~current bepace ~~subject~~of togrowth, ~~certain~~China ~~tax~~will ~~consequences~~have in200 ~~our~~modern cities ~~business~~within the next decade. Cities, ~~which~~commercial ~~may~~buildings ~~increase~~and shopping malls are all competing against each other largely on the basis of aesthetic appeal. The fact that many of these newly erected commercial structures are designed by foreign architects and interior designers has increased the demand for high-quality innovative materials with unique finishing looks. It is our ~~cost~~aim to capture a larger portion of ~~doing~~this ~~business~~high-end segment of the market.

WeAt ~~may~~present, ~~not~~we beare ~~able~~well topositioned ~~structure our acquisition~~ to ~~result~~capitalize inon this ~~tax-free~~growing ~~treatment~~demand. ~~for~~Over the ~~companies~~past ~~or their stockholders~~years, ~~which~~the ~~could~~Company ~~deter~~has ~~third~~completed ~~parties~~numerous ~~from~~high ~~entering~~profile ~~into~~projects ~~certain~~in ~~business~~Hong ~~combinations~~Kong ~~with~~and usChina. orBecause our ~~result~~main inoffice ~~being~~is ~~taxed~~strategically onsituated ~~consideration received~~ in aHong ~~transaction. Currently~~Kong, athe ~~transaction~~Company ~~may~~is bein ~~structured~~close socontact aswith toits ~~result~~core incustomers ~~tax-free~~which ~~treatment~~are tomainly the ~~both~~major ~~companies,~~Hong asKong ~~prescribed by various federal~~ and ~~state~~foreign ~~tax~~property ~~provisions~~developers. WeThe ~~intend~~Company tois ~~structure~~also ~~any~~well ~~business~~situated ~~combination so as~~ to ~~minimize~~do ~~the federal and state tax consequences to both us and the target entity; however, we cannot guarantee that the~~ business ~~combination~~in ~~will~~other ~~meet~~major ~~the~~markets ~~statutory requirements of a tax-free reorganization or that the parties will obtain the intended tax-free treatment upon a transfer of stock or assets. A non-qualifying reorganization could result~~ in Asia ~~the imposition of both federal~~ and ~~state taxes that may have an adverse effect on both parties to~~ the ~~transaction~~Middle East.

~~Our business will have no revenue unless and until we merge with or acquire an operating business.~~8

WeTable ~~are~~of ~~a development stage company and have had no revenue from operations. We do not expect to realize any revenue unless and until we successfully merge with or acquire an operating business.~~Contents

~~Because~~Greatmat weFlooring ~~may~~Installed ~~seek~~in ~~to complete a business combination through a “reverse merger”, following such a transaction we may not be able to attract~~ the ~~attention~~Hong ofKong ~~major brokerage firms.~~Coliseum

~~Additional~~Our ~~risks~~principal ~~may~~end-markets ~~exist~~are ~~since~~high-end weshopping ~~expect~~malls, buildings toand ~~assist~~other acommercial ~~privately~~projects ~~held~~in ~~business~~China, toHong ~~become~~Kong ~~public~~and ~~through~~elsewhere ain ~~“reverse merger~~Asia.” ~~Securities~~In ~~analysts~~the offuture, ~~major~~we ~~brokerage~~hope ~~firms~~to ~~may~~expand ~~not~~our ~~provide~~markets to ~~coverage~~North ofAmerica ~~our~~and worldwide. The Company ~~since~~believes that there isare noexcellent ~~incentive~~growth toopportunities ~~brokerage~~for ~~firms~~our tobusiness ~~recommend~~within China and the ~~purchase~~rest of ~~our~~Asia. ~~common~~Despite ~~stock~~the economic downturn, ~~par~~it ~~value~~is ~~$0.001~~also ~~per~~our ~~share~~belief (that the ~~“Common~~USA ~~Stock”).~~could Noprovide ~~assurance~~ample ~~can~~opportunities beas ~~given~~well. The ~~that~~Company ~~brokerage~~also ~~firms~~believes ~~will~~there ~~want~~may tobe ~~conduct~~significant ~~any~~business ~~secondary~~opportunities ~~offerings~~in onother ~~behalf~~closely ofrelated ~~our~~industry ~~post-merger~~segments ~~company~~that init ~~the~~has not ~~future~~yet explored.

~~Our~~Engineered ~~stockholders~~or ~~may~~reconstituted ~~have~~stone ais ~~minority~~just ~~interest~~being introduced and accepted in the ~~Company~~Chinese ~~following~~market. Real estate developers are always looking for high-end building materials which can enhance and distinguish the aesthetic appeal of their projects. However, budget is always a ~~merger~~concern. orThis ~~other~~is ~~business~~where ~~combination~~we can meet their need as we are able to provide high-end finishing materials at only half the price of some of our competitors, and with anfaster ~~operating~~turnaround times. ~~business~~Furthermore, our customers are increasingly environmentally conscious and our products use recycled materials and can reduce the production of construction waste.

IfTraditionally, weproperty ~~consummate~~developers would have only a limited ~~merger~~number of choices for their wall or ~~business~~flooring ~~combination~~surfaces. ~~with~~If a ~~company~~developer ~~with~~was big enough, perhaps it might be able to commission a ~~value~~manufacturer into ~~excess~~produce ofsomething ~~the~~unique ~~value~~for ofthem. ~~our~~But ~~Company~~this was quite rare and ~~issue~~very ~~shares~~expensive ofand ~~Common~~time ~~Stock~~consuming. toTherefore, most developers typically choose building materials “off the ~~stockholders~~rack” offrom ~~such~~a ~~company~~manufacturer’s asshowroom. ~~consideration~~Greatmat offers an innovative solution to its corporate clients who want that “special” building material for ~~merging~~their ~~with~~signature usproject, yet ~~our~~at ~~stockholders~~a ~~would~~reasonable ~~own~~cost. ~~less~~We ~~than~~believe ~~50%~~that this is a rather revolutionary way of ~~the~~doing ~~Company~~business ~~after~~in the ~~business~~building ~~combination~~materials industry. Instead ~~The~~of ~~stockholders~~bringing ofsamples to show to the ~~acquired~~client, ~~company~~Greatmat simply asks the client what they would ~~therefore~~like beto ~~able~~achieve in their flooring or wall design. Then Greatmat can come up with a solution to ~~control~~fulfill the ~~election~~client’s ofstated ~~our~~wish. ~~board~~We believe that this is one of ~~directors~~the (reasons why we have been so successful in pitching new projects. In addition, Greatmat keeps raising the ~~“Board~~bar offor ~~Directors”~~its competitors by setting higher and higher standards (even by U.S. standards) for the quality and ~~control~~features of its products. Greatmat also provides a ten year product warranty in writing for all of its products. We believe our ~~Company~~novel approach to providing customized solutions for our clients is a win-win situation for both parties. And a major advantage of this model for Greatmat is that Greatmat is not required to hold any inventory of its products.

Our shares are subject to the U.S. “Penny Stock” Rules and investors who purchase our shares may have difficulty re-selling their shares as the liquidity of the market for our shares may be adversely affected by the impact of the “Penny Stock” Rules.9

~~Our~~Table ~~stock is subject to U.S. “Penny Stock” rules, which may make the stock more difficult to trade on the open market. A “penny stock” is generally defined by regulations~~ of the U.S. Securities and Exchange Commission (“SEC”) as an equity security with a market price of less than US$5.00 per share. However, an equity security with a market price under US$5.00 will not be considered a penny stock if it fits within any of the following exceptions:Contents

~~Page~~A -Greatmat 7Surface Making Use of Discarded Tires

~~(i)~~Our ~~the equity security is listed on NASDAQ or a national securities exchange;~~Products

~~(ii)~~Greatmat ~~the~~has ~~issuer~~developed ofa ~~the~~new ~~equity~~finishing ~~security~~building ~~has~~material by ~~been~~applying ina ~~continuous~~newly ~~operation~~modified ~~for~~chemical ~~less~~together ~~than~~with ~~three~~recycled ~~years,~~materials ~~and~~such ~~either~~as ~~has~~glass, ~~(a)~~quartz ~~net~~and ~~tangible~~other ~~assets~~materials. ofGreatmat athas patented ~~least~~and ~~US$5,000,000,~~trademarked orthis ~~(b)~~new ~~average~~finishing ~~annual~~material ~~revenue~~as of“Sani-Crete” ~~at least US$6,000,000; or~~stone.

~~(iii)~~Sani-Crete stone can be used for the ~~issuer~~exterior and interior of ~~the~~a ~~equity~~new ~~security~~or ~~has~~renovated ~~been~~building instructure, ~~continuous~~and ~~operation~~can ~~for~~be ~~more~~applied to floors and walls. “Sani-Crete” stone is much stronger than ~~three~~ordinary ~~years~~finishing building materials and is suitable for heavy duty/high traffic area building projects, such as shopping malls, commercial buildings, residential towers and hospitals. Technical test data have shown that Sani-Crete stone products outperform natural stone for durability, hardness and waterproofing. Sani-Crete stone has ~~net~~the ~~tangible~~added ~~assets~~benefit of atbeing ~~least~~“anti-bacterial” and ~~US$2~~“anti-virus,~~000,000~~” making it suitable even for scientific laboratories and hospitals.

~~Our~~Sani-Crete ~~common~~stone ~~stock~~can ~~does~~be ~~not~~produced ~~currently~~in ~~fit~~virtually ~~into~~any color, graphic pattern, surface texture, size and thickness, and can duplicate the appearance of any kind of natural stone pattern, including stones that are no longer naturally available. Our products offer value-added attributes such as high wind velocity resistance and resistance to color fading. Since we can produce and apply all kinds of patterns such as corporate or brand logos onto patterned stone, we believe that there is a good opportunity for us to market our products to the ~~above~~high-end ~~exceptions~~luxury brand market segment.

If an investor buys or sells a penny stock, SEC regulations require that the investor receive, prior to the transaction, a disclosure explaining the penny stock market and associated risks. Furthermore, trading in our common stock will be subject to Rule 15g-9 of the Exchange Act, which relates to non-NASDAQ and non-exchange listed securities. Under this rule, broker/dealers who recommend our securities to persons other than established customers and accredited investors must make a special written suitability determination for the purchaser and receive the purchaser’s written agreement to a transaction prior to sale. Securities are exempt from this rule if their market price is at least $5.00 per share. Since our common stock is currently deemed penny stock regulations, it may tend to reduce market liquidity of our common stock, because they limit the broker/dealers’ ability to trade, and a purchaser’s ability to sell, the stock in the secondary market.10

~~The~~Table ~~low price~~ of our common stock has a negative effect on the amount and percentage of transaction costs paid by individual shareholders. The low price of our common stock also limits our ability to raise additional capital by issuing additional shares. There are several reasons for these effects. First, the internal policies of certain institutional investors prohibit the purchase of low-priced stocks. Second, many brokerage houses do not permit low-priced stocks to be used as collateral for margin accounts or to be purchased on margin. Third, some brokerage house policies and practices tend to discourage individual brokers from dealing in low-priced stocks. Finally, broker’s commissions on low-priced stocks usually represent a higher percentage of the stock price than commissions on higher priced stocks. As a result, the Company’s shareholders may pay transaction costs that are a higher percentage of their total share value than if our share price were substantially higher.Contents

~~Our~~Tactile ~~independent~~Elements ~~auditors~~for ~~have expressed doubt about our ability to continue as a going concern, and~~ the ~~amounts~~Benefit ~~recorded~~of ~~in our financial statements may require adjustments if~~ the ~~assumption that the entity is a going concern proves untrue, which may hinder our ability to obtain future financing.~~Visually Impaired

Our independent auditors stated that our financial statements were prepared assuming that we would continue as a going concern, As a result of the going concern qualification, we may find it much more difficult to obtain financing in the future, if required. Further, any financing we do obtain may be on less favorable terms. Moreover, if the Company should fail to continue as a going concern, there is a risk of total loss of any monies invested in the Company, and it is also possible that, in such event, our shares would be of little or no value.11

~~There~~Table ~~is currently no active trading market for our Common Stock, and liquidity~~ of ~~shares of our Common Stock is limited.~~Contents

~~There~~Graphical isElements noIncorporated ~~active~~into ~~public trading market for the Common Stock. Further, no active public trading market is expected to develop in the foreseeable future unless and until the Company completes~~ a ~~business~~Greatmat combination with an operating business and the Company thereafter files a registration statement under the Securities Act of 1933, as amended (the “Securities Act”). Shares of Common Stock cannot be sold under the exemptions from registration provided by Rule 144 under or Section 4(1) of the Securities Act (“Rule 144”), in accordance with the letter from Richard K. Wulff, Chief of the Office of Small Business Policy of the Securities and Exchange Commission’s Division of Corporation Finance, to Ken Worm of NASD Regulation, dated January 21, 2000 (the “Wulff Letter”). The Wulff Letter provides that certain private transfers of the shares of common stock also may be prohibited without registration under federal securities laws. The SEC changed certain aspects of the Wulff Letter and such changes apply retroactively to our stockholders. Since February 15, 2008, all holders of shares of common stock of a “shell company” have been permitted to sell their shares of common stock under Rule 144, subject to certain restrictions, starting one year after (i) the completion of a business combination with a private company in a reverse merger or reverse takeover transaction after which the company would cease to be a “shell company” (as defined in Rule 12b-2 under the Exchange Act) and (ii) the disclosure of certain information on a Current Report on Form 8-K within four business days thereafter.Surface

~~Page~~With a minimum thickness of only 5 millimeters, Sani-Crete stone 8is well-suited for flooring as well. This thinness provides a large advantage in connection with renovation work because the Sani-Crete surface will not damage most substrates, thereby eliminating the need for taking out the original substrate and creating additional construction waste. Sani-Crete stone can be laid directly on any kind of material surface, such as the ceramic tile, stone and so forth, which can prove to be economical, time-saving and efficient for the renovation process.

~~Compliance~~Sani-Crete ~~with~~is ~~the~~a ~~criteria~~co-epoxy ~~for~~based ~~securing~~liquid ~~exemptions~~chemical ~~under~~which can ~~federal~~be ~~securities~~mixed ~~laws~~with ~~and~~other ~~the~~elements ~~securities~~such ~~laws~~as ofglass ~~the~~or ~~various~~quartz, ~~states~~or isapplied ~~extremely~~directly ~~complex,~~as ~~especially~~a infunctional ~~respect~~finishing ofdecorative ~~those~~building ~~exemptions~~material. Sani-Crete ~~affording~~stone ~~flexibility~~can ~~and~~be ~~the~~produced ~~elimination~~in oftile ~~trading~~form ~~restrictions~~(known inas ~~respect~~the ofSani-Crete ~~securities~~Reconstituted ~~received~~Stone) or in ~~exempt~~liquid ~~transactions~~form and ~~subsequently~~applied ~~disposed~~directly on ofa ~~without~~construction ~~registration~~site ~~under~~to be a jointless finishing building material (known as the ~~Securities~~Sani-Crete ~~Act~~H-Series). orSani-Crete ~~state~~stone ~~securities~~can ~~laws~~also be combined with other solid elements such as bamboo, gold, etc. to form new patterns.

~~There are issues impacting liquidity of our securities with respect to the SEC’s review of a future resale registration statement.~~12

~~Since~~Table ~~shares~~ of our Common Stock issued prior to a business combination or reverse merger cannot currently, nor will they for a considerable period of time after we complete a business combination, be available to be offered, sold, pledged or otherwise transferred without being registered pursuant to the Securities Act, we may decide to file a resale registration statement on Form S-1, or some other available form, to register for resale such shares of Common Stock. We cannot control this future registration process in all respects as some matters are outside of our control. Even if we are successful in causing the effectiveness of the resale registration statement, there can be no assurances that the occurrence of subsequent events may not preclude our ability to maintain the effectiveness of the registration statement. Any of the foregoing items could have adverse effects on the liquidity of our shares of Common Stock.Contents

InExamples ~~addition, the SEC has recently disclosed that it has developed internal informal guidelines concerning the use~~ of aGreatmat ~~resale~~Products registration statement to register the securities issued to certain investors in private investment in public equity (PIPE) transactions, where the issuer has a market capitalization of less than $75 million and, in general, does not qualify to file a Registration Statement on Form S-3 to register its securities. The SEC has taken the position that these smaller issuers may not be able to rely on Rule 415 under the Securities Act (“Rule 415”), which generally permits the offer and sale of securities on a continued or delayed basis over a period of time, but instead would require that the issuer offers and sells such securities in a direct or "primary" public offering, at a fixed price, if the facts and circumstances are such that the SEC believes the investors seeking to have their shares registered are underwriters and/or affiliates of the issuer. It appears that the SEC in most cases will permit a registration for resale of up to one third of the total number of shares of common stock then currently owned by persons who are not affiliates of such issuer and, in some cases, a larger percentage depending on the facts and circumstances. Staff members also have indicated that an issuer in most cases will have to wait until the later of six months after effectiveness of the first registration or such time as substantially all securities registered in the first registration are sold before filing a subsequent registration on behalf of the same investors. Since, following a reverse merger or business combination, we may have few or no tradable shares of Common Stock, it is unclear as to how many, if any, shares of Common Stock the SEC will permit us to register for resale, but SEC staff members have indicated a willingness to consider a higher percentage in connection with ~~registrations~~Translucent following reverse mergers with shell companies such as the Company. The SEC may require as a condition to the declaration of effectiveness of a resale registration statement that we reduce or “cut back” the number of shares of common stock to be registered in such registration statement. The result of the foregoing is that a stockholder’s liquidity in Common Stock may be adversely affected in the event the SEC requires a cut back of the securities as a condition to allow the Company to rely on Rule 415 with respect to a resale registration statement, or, if the SEC requires us to file a primary registration statement.Effect

~~Page~~Currently, -the 9bulk of our manufactured products belong to the “Quartz” line collection. The Quartz line of products mixes fine quartz or marble with various recycled materials to produce sophisticated textures in various attractive colors. We are currently developing our new “Clone” and “Glow” lines, which may require substantial investments in the near future. We have begun to take orders for our Clone and Glow product lines and we expect to start production in 2011. Our Clone line of products reproduces the appearance of certain natural stones, but typically with a much lower cost and better performance than the original natural stone. Our Glow line of products literally glows by radiating light that they have absorbed and stored, creating a dramatic aesthetic effect as well as providing safety benefits. We are not aware of any other companies making products similar to our Clone and Glow lines in Asia.

~~We have never paid dividends on our Common Stock.~~13

WeTable ~~have never paid dividends on our Common Stock and do not presently intend to pay any dividends in the foreseeable future. We anticipate that any funds available for payment~~ of ~~dividends will be re-invested into the Company to further its business strategy.~~Contents

~~Our~~A ~~stockholders~~Kitchen ~~may~~Counter ~~engage~~Top inMade afrom ~~transaction to cause the Company to repurchase their shares of Common Stock.~~ Sani-Crete

InOur ~~order~~Third-Party to provide an interest in the Company to a third party, our stockholders may choose to cause the Company to sell Company securities to third parties, with the proceeds of such sale being utilized by the Company to repurchase their shares of Common Stock. As a result of such transaction, our management, stockholders and Board of Directors may change.Manufacturer

~~Control~~With bya ~~Management~~view to enhancing the efficiency of our operations, Greatmat has outsourced, and currently intends to continue to outsource, the manufacturing process for all of our products to our third-party manufacturer, Yunfu Changyi Stone Factory, a company located in the PRC. The third-party manufacturer is exclusively engaged in the manufacturing of Greatmat products based on specifications and designs received from Greatmat and does not itself engage in the marketing, sale and distribution of building material products or the production of building material products for anyone other than Greatmat. As a result, there is no competition between Greatmat and its third-party manufacturer with respect to Greatmat’s end-customers. In the interest of efficiency, the Company sometimes engages its third-party manufacturer to carry out research and development activities on its behalf.

~~Management~~The ~~currently~~Company’s ~~owns~~relationship ~~62%~~with its third-party manufacturer is governed by an Exclusive Manufacturing Agreement dated June 30, 2004 between Greatmat Hong Kong and Yunfu, a copy of ~~all~~which is filed as Exhibit 10.1 to this report. Pursuant to the ~~issued~~terms ~~and~~of ~~outstanding~~the ~~Common~~Exclusive ~~Stock~~Manufacturing Agreement, during the term of the agreement, the Company. ~~Consequently~~is required to use Yunfu exclusively to process its engineered stone, ~~management~~and ~~has~~Yunfu may only provide manufacturing and processing services for the ~~ability~~Company’s toproducts. ~~influence~~The ~~control~~original term of the ~~operations~~Exclusive Manufacturing Agreement ended on June 30, 2009, whereupon the period of the ~~Company~~agreement ~~and,~~was ~~acting~~extended ~~together~~to June 30, ~~will~~2014. ~~have~~See the ~~ability~~Risk toFactor ~~influence~~below ~~substantially~~“RISKS RELATED ~~all~~TO ~~matters~~OUR ~~submitted~~BUSINESS—We torely ~~stockholders~~on ~~for~~a ~~approval,~~single ~~including~~third-party :manufacturer to manufacture our products.”

·Pursuant ~~Election~~to the terms of the ~~board~~Exclusive Manufacturing Agreement, Greatmat provides all of ~~directors;~~the machines, equipment and packaging, as well as designs and logos and certain specialized materials, to be used in production of its products to Yunfu. Yunfu provides the physical manufacturing facility, utilities and certain basic materials, as well as all of the labor in producing the engineered stone products, and is responsible for meeting the specifications for the products set forth in the work orders, while Greatmat provides management and technical support and retains the right to inspect the production process. Yunfu is responsible for meeting PRC legal requirements with respect to the facility and its workers. The processing fee to be paid by Greatmat to Yunfu is agreed to by both parties when the order is placed, with 30% of such fee payable upon placing the order and 70% due when the final products are inspected and approved. Greatmat is required to order a minimum amount of products from Yunfu each year or pay a sizable penalty.

~~· Removal of any directors;~~14

·Table ~~Amendment~~ of ~~the Company’s articles of incorporation or bylaws; and~~Contents

·Our ~~Adoption~~Production ~~of measures that could delay or prevent a change in control or impede a merger, takeover or other business combination.~~Process

~~These~~Recycled ~~stockholders~~elements, ~~will~~such ~~thus~~as ~~have~~quartz, ~~substantial~~stone ~~influence~~or ~~and~~glass ~~control~~are grinded ~~over~~into ~~our~~various ~~management~~sizes of fine powder. Dirt particles in the powder are then taken away by means of filtration while metallic material is removed using magnetic force. Different sizes of the powder are independently mixed to provide different batches of evenly-sized powdered material. They are then mixed together. Sani-Crete co-epoxy base liquid chemical is added and ~~affairs~~mixed with these powders. ~~Accordingly~~ The resulting chemical mix will go through a process which includes high pressure compression, ~~this~~vacuum ~~concentration~~and ofmachine vibration. ~~ownership~~The ~~may~~semi-finished ~~have~~product is taken out to dry for a few hours. The mold is then taken away and the ~~effect~~semi-finished product will be left for 24 hours of ~~impeding~~cooling. The semi-finished product is then shaved to the requested thickness by a ~~merger~~heavy-duty machine. Once the desired thickness is reached, ~~consolidation~~the semi-finished product is polished. “Anti-dirt” coating is applied to the surface. Another layer of protective cover is then added to the surface. The product is then cut to the requested size. Once the final quality control check is done, ~~takeover~~the orfinished ~~other~~product ~~business~~is ~~consolidation~~packed and shipped. Greatmat does not install the finished product in the construction project, orbut ~~discouraging~~will aprovide ~~potential~~developers ~~acquirer~~with ~~from~~referrals ~~making~~to acontractors ~~tender~~able ~~offer~~to ~~for~~install ~~our~~the ~~Common~~finished ~~Stock~~products.

~~ITEM~~Quality 1Bcontrol is an important part of our production process. ~~UNRESOLVED~~Greatmat ~~STAFF~~currently ~~COMMENTS~~employs six employees in the quality control division. These employees are responsible for quality inspections throughout the production processes. All raw materials, semi-finished products and final products are subject to sampling and quality inspection in connection with each stage of processing.

~~Not~~Raw ~~applicable.~~Materials

~~ITEM~~The 2main raw materials used in our production process are glass, quartz, and a special mix of adhesives. ~~PROPERTIES~~We purchase most of the raw materials from Chinese suppliers and the raw materials are generally in abundant supply and available from numerous sources. Many of our raw materials are recycled from otherwise unwanted waste materials. The price and availability of raw materials may vary from year to year due to market conditions and production capacities. We do not expect a lack of availability or significant price increases for our raw materials in the foreseeable future. We currently purchase adhesive material from Cathay Coating, a Taiwanese company, and quartz from Dak Wai, a Chinese company.

~~The~~Energy ~~Company~~is ~~neither~~also ~~rents~~a ~~nor~~significant ~~owns~~cost ~~any~~in ~~properties~~our production. Any ~~The~~increase ~~Company~~or ~~utilizes~~material ~~the~~fluctuation ~~office~~in ~~space~~energy and ~~equipment~~fuel ofcosts ~~its~~could ~~management~~have ata nomaterial ~~cost.~~adverse ~~Management~~effect ~~estimates~~on ~~such~~our ~~amounts to be immaterial. The Company currently has no policy with respect to investments or interests in real estate~~business, ~~real~~financial ~~estate~~condition and ~~mortgages~~results ~~or securities~~ of, ~~or interests in, persons primarily engaged in real estate activities~~operations.

~~ITEM 3. LEGAL PROCEEDINGS.~~Customers

~~Presently,~~We ~~there~~have about 20 customers and they are ~~not~~all ~~any~~large ~~material~~property developers ~~pending~~based ~~legal~~in ~~proceedings~~Hong toKong ~~which~~and ~~the~~China. ~~Company~~Most isof aour ~~party~~customers orare aswell-established toand ~~which~~well-known ~~any~~property developers headquartered in Hong Kong and almost all are publicly listed companies in Hong Kong. In fact, we currently are doing business with five of ~~its~~the six largest property developers in Hong Kong. Currently, our largest customer in terms of sales is ~~subject~~Hang Lung Properties, ~~and~~which currently noaccounts ~~such~~for ~~proceedings~~about 50% of our 2010 sales. Our next two largest customers are ~~known~~China toEstate ~~the~~Holdings ~~Company~~and toSino beGroup, ~~threatened~~which each oraccount ~~contemplated~~for ~~against~~about it20% of our sales.

~~Page~~Currently, -about 1065% of our sales are to projects in China, about 30% to Hong Kong, and about 5% to other parts of Asia. We are currently planning to increase the percentage of our sales to other parts of Asia in order to reduce our risk related to geographic concentration.

~~PART~~Contract IIPricing

~~ITEM~~Our 5work is performed under fixed-price contracts. ~~MARKET~~ ~~FOR~~It typically ~~REGISTRANT’S~~takes ~~COMMON~~us ~~EQUITY~~between one to three months to perform one of our contracts. Under fixed-price contracts, ~~RELATED~~we ~~STOCKHOLDER~~receive ~~MATTERS~~a ~~AND~~fixed price. ~~ISSUER~~A ~~PURCHASES~~disadvantage OFof ~~EQUITY~~fixed-price ~~SECURITIES~~contracts is that we realize a profit only if we control our costs and prevent cost over-runs on the contracts, which can oftentimes be out of our control, such as cost of materials. An advantage of these contracts is that we can adjust the material and technology that we use in the project, as long as we satisfy the requirements of our customer, and there is a potential to benefit from lower costs of materials.

~~Market~~During ~~Information~~2009, we completed about 30 projects, large to small. Our two largest projects were worth approximately $3,300,000 and $800,000 and they accounted for about 62% and 15% of our sales, respectively, for the year ended December 31, 2009. Our three largest projects in 2010 are worth about $6,500,000, $1,200,000 and $650,000.

The Company’s common stock is currently quoted on the inter-dealer electronic quotation and trading system maintained by Pink OTC Markets Inc. under the symbol of “ARMX”. The Company’s common stock has not had any trading since its quotation. Because of such lack of trading history, we cannot present a high and low bid price.15

~~Holders~~Table of Contents

AsContract ~~of October 1, 2010, the approximate number of stockholders of record of the Common Stock of the Company was 11.~~Backlog

~~Dividend~~As ~~Policy~~of December 31, 2010, our total backlog of orders considered to be firm was approximately $7.3 million. This is comprised of three different projects; one is a large shopping complex by Hang Lung Properties in China and two are infrastructure projects by the Hong Kong government in Hong Kong.

~~The~~We ~~Company~~define ~~has~~backlog ~~never~~as ~~declared~~the ortotal ~~paid~~anticipated ~~any~~revenue ~~cash~~from projects ~~dividends~~already onbegun ~~its~~and ~~common~~upcoming ~~stock.~~projects Wefor ~~currently~~which ~~intend~~contracts tohave ~~retain~~been ~~future~~signed ~~earnings,~~or ifawarded ~~any,~~and topending ~~finance~~signing. We view backlog as an important statistic in evaluating the ~~expansion~~level of sales activity and short-term sales trends in our business. AsHowever, aas ~~result~~backlog is only one indicator, and is not an effective indicator of the ultimate profitability of our sales, we do not ~~anticipate~~believe ~~paying~~that ~~any~~backlog should ~~cash~~be ~~dividends~~used inas the ~~foreseeable~~sole indicator of our future earnings. There can be no assurance that the backlog at any point in time will translate into net revenue in any subsequent period.

~~Equity~~Sales ~~Compensation~~and ~~Plan Information~~Marketing

~~We do not have any equity compensation plan as of the date of this report.~~Sales

~~Recent~~We have a marketing staff of five people, who market primarily to major property developers in Hong Kong. We also have one independent sales representative in China. We believe that we will be better able to satisfy the different needs of ~~unregistered~~our ~~securities~~clients by expanding the scope of our offerings in the future. We also believe that we will be better able to market our products abroad by establishing offices in other cities.

WeSales ~~did~~managers ~~not~~lead ~~issue~~our ~~any~~sales ~~securities~~and ~~during~~marketing ~~the~~efforts through ~~year~~our ~~ended~~domestic ~~July~~headquarters 31in Hong Kong. Our sales representatives attempt to maintain relationships with governments, ~~2010~~developers, general contractors, architects, engineers, and other potential sources of business to determine potential new projects under consideration. Our sales efforts are further supported by our executive officers and engineering personnel, who have substantial experience in the design, engineering, fabrication, and installation of engineered stone surfaces.

~~ITEM~~We 6primarily compete for new project opportunities through our relationships and interaction with our active and prospective customer base, which we believe provides us with valuable current market information and sales opportunities. ~~SELECTED~~ ~~FINANCIAL~~In ~~DATA~~addition, we are often contacted by governmental agencies in connection with public construction projects, and by large private-sector project owners and general contractors and engineering firms in connection with new building projects both in China and other countries, often at the recommendation of architects and engineers we have worked with in the past.

~~Not applicable.~~Marketing

~~ITEM~~Management 7believes that we have developed a reputation for innovative technology and quality in the market for specialty high-end finishing materials. ~~MANAGEMENT'S~~ ~~DISCUSSION~~Marketing ~~AND~~efforts ~~ANALYSIS~~are OFgeared ~~FINANCIAL~~towards advancing ~~CONDITION~~us ~~AND~~as ~~RESULTS~~a OFbrand ~~OPERATIONS~~of choice for building the world’s most modern and challenging projects. To better showcase our products to potential customers, we plan to exhibit at leading trade shows and exhibitions and are striving to improve our company website.

~~This~~Research ~~section includes a number of forward-looking statements that reflect our current views with respect to future events~~ and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or our predictions.Development

~~Aurum~~Producers ~~Explorations,~~of ~~Inc~~construction materials face strong pressure to respond quickly to industry demands with new designs and product innovations that support rapidly changing technical demand and regulatory requirements. ~~(“we”,~~We ~~“us”,~~devote ~~“our”~~a orsubstantial amount of attention to the ~~“Company”)~~research ~~was~~and ~~incorporated~~development inof advanced engineered stone materials that meet the ~~State~~demands of ~~Nevada~~project-specific onneeds ~~April~~while 27striving to lead the industry in value, ~~2007~~materials and processes. ~~The~~ We ~~Company~~have ~~was~~sophisticated ~~originally~~in-house ~~formed~~R&D ~~for~~and ~~the~~testing ~~purpose~~facilities, ofa ~~acquiring~~highly ~~exploration~~technical onsite team, and ~~development~~access ~~stage~~to ~~natural~~highly ~~resources~~specialized market ~~properties~~research, cooperation with leading research institutions, experienced management, and close relationships with leading materials experts. ~~The~~ ~~Company~~We ~~had~~currently ~~been~~expend inabout ~~the~~5% ~~exploration~~of ~~stage~~our ~~since~~sales ~~its~~on ~~incorporation~~research and ~~had~~development. ~~not~~We ~~yet~~bear ~~realized~~the ~~any~~cost ~~revenue~~of ~~from~~our ~~its~~research ~~planned~~and development ~~operations~~ourselves.

~~Page - 11~~16

InTable ~~July 2009, there was a change in control~~ of the Company. Thereafter, the Company became dormant and is now actively seeking a business combination through the acquisition of, or merger with, an operating business. The Company now maintains its principal executive office at Suite 903, Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong, China.Contents

The Company is a “blank check” company. The SEC defines those companies as "any development stage company that is issuing a penny stock, within the meaning of Section 3(a) (51) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and that has no specific business plan or purpose, or has indicated that its business plan is to merge with an unidentified company or companies." Many states have enacted statutes, rules and regulations limiting the sale of securities of "blank check" companies in their respective jurisdictions. The Company is also a “shell company,” defined in Rule 12b-2 under the Exchange Act as a company with no or nominal assets (other than cash) and no or nominal operations. Management does not intend to undertake any efforts to cause a market to develop in the Company’s securities, either debt or equity, until we have successfully concluded a business combination. The Company intends to comply with the periodic reporting requirements of the Exchange Act for so long as we are subject to those requirements.Patents

~~The~~We ~~Company~~rely ison ~~actively~~a ~~seeking~~combination aof ~~business~~trade ~~combination~~secret ~~with~~and anpatent ~~operating~~laws ~~business~~to ~~that~~protect ~~seeks~~our ~~the~~proprietary ~~perceived~~technology. ~~advantages~~We have made substantial investments in improving our manufacturing process which have enabled us to improve the properties of ~~being~~our aproducts and ~~publicly~~facilitated ~~held~~our ~~corporation~~development of new products. The Company’s ~~principal~~has ~~business~~received ~~objective~~a ~~for~~patent from the ~~near~~Hong ~~term~~Kong ~~will~~government berelating to ~~achieve~~the manufacture ~~long-term~~of ~~growth~~a ~~potential~~seamless ~~through~~inlay ~~such~~surface, awhich ~~business~~patent ~~combination~~expires on April 6, 2012. The Company ~~will~~does not ~~restrict~~believe ~~its~~that ~~potential~~the ~~candidate~~expiration of ~~target~~this ~~companies~~patent towill ~~any~~have ~~specific~~a material impact on its business, ~~industry~~as orthe ~~geographical~~formulas ~~location~~ and, ~~thus,~~process ~~may~~for ~~acquire~~producing ~~any~~its ~~type~~Sani-Crete ofstone ~~business~~products are trade secrets not known to the Company’s competitors.

~~Limited Operating History; Need for Additional Capital~~Trademarks

~~There~~Our isproducts noare ~~historical~~sold ~~financial~~under ~~information~~the ~~about~~brands usGreatmat ~~upon~~and Sani-Crete, which toare ~~base~~officially registered trademarks in Hong Kong. Sani-Crete is also an ~~evaluation~~officially registered trademark in the PRC. Registration of ~~our~~trademarks ~~performance~~is effective for as long as we continue to use the trademarks and renew the registrations. WeThe trademark ~~are~~registrations afor the marks “~~blank~~Greatmat ~~check~~Sani-Crete”, ~~company~~“Greatmat” and ~~have~~“Sani-Crete” in Hong Kong and “Sani-Crete” in the PRC will expire on May 11, 2016, April 2, 2014, December 21, 2013, and May 20, 2020, respectively, if not ~~generated~~renewed ~~any~~by ~~revenues~~the ~~from~~Company ~~activities~~prior to these dates, which the Company currently intends to do. We ~~cannot~~believe ~~guarantee~~that weour trademarks ~~will~~are beof ~~successful~~considerable invalue ~~any~~to ~~business~~us ~~activity.~~as ~~Whatever~~they ~~business~~allow weour ~~select,~~customers itto ~~will~~differentiate beour ~~subject~~products from those of our competitors and allow us to ~~risks~~reap ~~inherent~~the inbenefits of our marketing efforts. Although the ~~establishment~~enforceability of atrademark ~~new~~rights ~~business~~in ~~enterprise~~the PRC and elsewhere in Asia is somewhat more developed than with respect to patent rights, ~~including~~there ~~limited~~is ~~capital~~still ~~resources~~some ~~and~~risk ~~possible~~that ~~cost~~we ~~overruns~~will not be able to stop infringement of such rights.

~~Results of Activities~~Employees

~~From~~At ~~Inception~~December on31, ~~April 27~~2010, ~~2007~~we maintained nine full-time corporate staff employees stationed in Hong Kong. There are 120 full-time workers of Chinese nationality in our third-party manufacturer’s facility dedicated exclusively to ~~July~~producing 31our products, ~~2010~~although they are technically not Greatmat’s employees. Our employees are not covered by collective bargaining agreements. We believe that our relationships with our employees are good.

~~The~~Our ~~Company~~Facilities ~~has continued to incur operating expenses~~ and has not generated any revenues from business activities since its inception on April 27, 2007. For the period from April 27, 2007 (date of inception) to July 31, 2010, the Company had net losses of $180,391, mainly attributable to professional fees, including accounting, auditing and legal expenses of $115,906.Property

~~Liquidity~~We do not own or lease any of our production facilities, which are operated by our third-party manufacturer. We have leased our executive offices in Hong Kong under a two-year lease which expires in May 2011. The monthly rental and ~~Capital~~management ~~Resources~~fees due under the lease total about HK$18,607 (US$2,385). We are currently looking into alternative office leasing arrangements at the end of our current lease and do not believe that the termination of this lease should have an adverse effect on our business.

As of the date of this report, we have not generated any revenues from any business activities. We expect that all expenses incurred or to be incurred will be financed solely by our sole director in his sole discretion.Competition

~~Plan~~We ofbelieve ~~Operation~~that we are well positioned vis-à-vis our competitors based on our following competitive strengths:

~~The~~• ~~Company~~Well ~~has~~known ~~not~~reputation ~~realized~~in ~~any~~our ~~revenues~~market ~~from~~for ~~operations~~high ~~since~~quality ~~inception,~~work ~~and~~• ~~its~~High ~~plan~~efficiency ofand ~~operation~~resulting ~~for~~low ~~the~~cost ~~next~~• ~~twelve~~Ability ~~months is~~ to ~~locate~~expand aour ~~suitable~~customer ~~acquisition~~base orin ~~merger~~new ~~candidate~~markets ~~and~~within ~~consummate~~ a ~~business~~relatively ~~combination.~~short ~~The~~time ~~Company~~frame ~~may~~through ~~need~~referrals ~~additional~~• ~~cash~~Access ~~advances from its stockholder or loans from other parties~~ to ~~pay for operating expenses until the Company consummates~~ a ~~merger~~large orpool ~~business~~of ~~combination~~engineering ~~with~~talent aresulting ~~privately-held~~in ~~operating~~technical ~~company.~~innovations ~~Although~~and itstrong isability ~~currently~~to ~~anticipated~~market ~~that~~and ~~the~~commercialize ~~Company~~our ~~can~~technical ~~satisfy~~innovations ~~its~~• ~~cash~~Continual ~~requirements~~improvement ~~with~~of ~~additional~~our ~~cash~~product ~~advances from its stockholder or loans from other parties~~development, ifproduct ~~needed,~~quality ~~for~~and atcustomer ~~least~~service ~~the~~• ~~next~~Ability ~~twelve~~to ~~months,~~produce ~~the~~higher ~~Company~~value-added ~~can~~products ~~provide~~• noAbility ~~assurance~~to ~~that~~expand itour ~~can~~production ~~continue~~capacity toin ~~satisfy~~a ~~its~~relatively ~~cash~~short ~~requirements~~time ~~for such period.~~frame

~~Page - 12~~17

WeTable are currently considered to be a “blank check” company in as much as we have no specific business plans, no operations, revenues or employees. We currently have no definitive agreements with any prospective business combination candidates nor are there any assurances that we will find a suitable business with which to combine. The implementation of ~~our business objectives is wholly contingent upon a business combination and/or the successful sale of securities in the company.~~Contents

AsWe aare ~~result~~currently aware of ~~our~~about ~~limited~~30 ~~resources,~~manufacturers weof quartz-based ~~expect~~engineered tostone ~~effect~~in ~~only~~the ~~a single business combination~~world. ~~Accordingly~~Therefore, ~~the~~supplies ~~prospects~~are ~~for~~somewhat ~~our~~limited. ~~success~~We ~~will~~estimate bethat ~~entirely~~about ~~dependent~~80% ~~upon the future performance~~ of athese ~~single~~manufacturers target ~~business.~~the ~~Unlike~~low-end ~~certain~~price-sensitive ~~entities~~segment ~~that~~of ~~have~~ the ~~resources~~market toand ~~consummate~~have ~~several~~little ~~business~~research ~~combinations~~and ordevelopment ~~entities~~capacity. ~~operating~~Interest in ~~multiple~~this low-end ~~industries~~segment ~~or multiple segments~~ of athe ~~single~~market ~~industry,~~has webeen ~~will~~limited ~~not~~because ~~have~~of the ~~resources~~perception tothat ~~diversify~~it ~~our~~is ~~operations~~capital orintensive ~~benefit~~and ~~from~~offers ~~the~~little ~~possible~~potential for ~~spreading of risks or offsetting of losses~~profit. AOur ~~target~~principal ~~business~~competitors ~~may~~in ~~be dependent upon~~ the ~~development or~~ market ~~acceptance~~for ofengineered astone ~~single or limited number of~~ products, ~~processes~~include ormostly ~~services,~~imported inEuropean ~~which~~manufacturers from ~~case~~Spain ~~there~~and ~~will be an even higher risk that the target business will not prove to be commercially viable~~Italy.

~~Our~~We ~~officer~~view ~~and~~most ~~director~~of isour ~~only~~competitors ~~required~~in the building materials market in Hong Kong and China basically to ~~devote~~be atrading ~~very~~firms ~~limited~~which ~~portion~~are inflexible in terms of ~~his~~their ~~time~~product toofferings ~~our~~and ~~affairs~~cost. They onobtain atheir ~~part-time~~showroom orsamples ~~as-needed~~from ~~basis~~their manufacturer and cannot modify them because their product is mass produced. WeIn ~~expect~~contrast, we are able to ~~use~~offer ~~outside~~our ~~consultants,~~customers ~~advisors,~~customized ~~attorneys~~solutions based on their specifications and ~~accountants~~particular asneeds. ~~necessary,~~The ~~none~~Company oftherefore believes ~~which~~that ~~will~~it becompetes ~~hired~~successfully on the basis of offering a ~~retainer~~superior ~~basis.~~value Weproposition dobased ~~not~~on ~~anticipate~~its ~~hiring~~ability ~~any~~to ~~full~~provide customized high-~~time~~quality ~~employees~~products soat ~~long~~reasonable asprices, wewhile ~~are~~most ~~seeking~~of its competitors offer more limited and ~~evaluating~~commoditized ~~business~~product ~~opportunities~~offerings that typically offer less value to the customer for the same level of expenditure.

We expect our present management to play no managerial role in the Company following a merger or business combination. Although we intend to scrutinize closely the management of a prospective target business in connection with our evaluation of a business combination with a target business, our assessment of management may be incorrect. We cannot assure you that we will find a suitable business with which to combine.Cyclicality

~~Results~~Our industry is affected by a variety of factors, including fluctuations in new shopping mall projects and volatility in the real estate market. We manage potential risks in the PRC’s volatile market environment by operating in different business segments and serving different customer bases. Operating in different business segments allows us to better cope with the cyclical nature of China’s building material industry. We believe that the combinations of our different business segments (which produce different products and serve different customers) will enabled us to reduce the disruptive effects of such downturns on our sales and operations.

~~Revenue~~In addition, we also intend to expand to other Asian and North American markets in order to reduce our dependency on the China and Hong Kong markets. We plan to expand to other Asian cities by means of cooperation (perhaps a joint venture) with a strong local partner in each such additional Asian country, whereby we will produce specific products (made according to the local tastes and likings) while our working partner will provide the customer contacts and services. We are currently holding discussions with potential partners in several additional Asian markets, although there can be no assurance that any of such plans or discussions will come to fruition. With respect to North American markets, our role for the foreseeable future will be limited to producing and exporting products based upon customer orders. In the past, we have produced some small quantity shipments for North American customers. Because of the current poor economic conditions in the building industry in North America, we are not actively pursuing this market for the time being.

~~We had revenue of $0 for the years ended July 31, 2010 and 2009 because we do not have active operations from which we would generate revenue.~~Regulation

~~Expenses~~Because our exclusive third-party contract manufacturer is located in the PRC, our business may be deemed to be to some extent regulated by the national and local laws of the PRC. We believe that our conduct of our business materially complies with existing Hong Kong and PRC laws, rules and regulations.

WeGeneral ~~incurred~~Regulation ~~$24,484 in expenses for the year ended July 31, 2010 as compared to expenses~~ of $43,043 for the year ended July 31, 2009. Most of the expenses were accounting, legal and other professional fees of $21,539 and $32,868 for the year ended July 31, 2010 and 2009, respectively. The expenses decreased by $18,559, or 43% over the year mainly because of the decrease in exploration and development expenses of $1,009, accounting, legal and other professional fees of $11,329 and office expenses of $8,083.Businesses

~~Net~~We ~~Loss~~believe that our third-party contract manufacturer is in material compliance with all applicable labor and safety laws and regulations in the PRC, including the PRC Labor Contract Law, the PRC Production Safety Law, the PRC Regulation for Insurance for Labor Injury, the PRC Unemployment Insurance Law, the PRC Provisional Insurance Measures for Maternity of Employees, PRC Interim Provisions on Registration of Social Insurance, PRC Interim Regulation on the Collection and Payment of Social Insurance Premiums and other related regulations, rules and provisions issued by the relevant governmental authorities from time to time, for their operations in the PRC.

~~Our~~According ~~net~~to ~~loss for~~ the ~~year~~PRC ~~ended~~Labor ~~July~~Contract 31Law, ~~2010~~employers ~~was~~are required ~~$24,484~~to ~~whereas~~enter ~~our~~into ~~net~~labor ~~loss~~contracts ~~for~~with ~~the~~their ~~year~~employees. ~~ended~~They ~~July~~are ~~31,~~required ~~2009~~to ~~was~~pay ~~$43,043. The~~no ~~decrease~~less inthan ~~net~~local ~~loss~~minimum ofwages ~~$18,559~~to ~~was~~their employees. inThey ~~line~~are also required to provide their employees with ~~the~~labor ~~decrease~~safety inand ~~expenses~~sanitation conditions satisfying PRC government laws and regulations.

~~Liquidity and Capital Resources~~18

AsTable of July 31, 2010, the Company had no assets, which was the same amount as of July 31, 2009. The Company’s current liabilities as of July 31, 2010 and 2009 totaled $33,269 and $8,785, respectively. Included in the current liabilities as of July 31, 2010, there was the amount due to the sole director of $24,017.Contents

~~Page~~Environmental ~~- 13~~Matters

~~The~~Our ~~following~~third-party manufacturer is asubject ~~summary~~to ofvarious ~~the~~pollution control ~~Company's~~regulations ~~cash~~with ~~flows~~respect ~~from~~to ~~operating~~noise, ~~investing,~~water and ~~financing~~air ~~activities~~pollution ~~for~~and the ~~period~~disposal ~~from~~of ~~April~~waste ~~27,~~and ~~2007~~hazardous ~~(Inception)~~materials. They are also subject to ~~July~~periodic ~~31,~~inspections ~~2010~~by local environmental protection authorities.

Operating activities	$	(151,627	)
Investing activities		-
Financing activities		151,627
Net effect on cash	$	-

We are not currently subject to any pending actions alleging any violations of applicable environmental laws or regulations, nor have we been punished or reprimanded for violating any such laws or regulations. We aim to develop our business without compromising environmental protection.

The Company has no assets and has generated no revenue since inception. The Company is also dependent upon the receipt of capital investment or other financing to fund its ongoing operations and to execute its plan of seeking a combination with a private operating company. If continued funding and capital resources are unavailable at reasonable terms, the Company may not be able to implement its plan of operations.Insurance

~~Off~~We have standard insurance coverage as required by Hong Kong law, including property coverage for our office premises and coverage for our employees in the case of work-~~Balance~~related ~~Sheet~~injury. We ~~Arrangements~~do not carry liability or business interruption coverage. Insurance companies in Hong Kong offer limited business insurance products. While business interruption insurance is available to a limited extent in Hong Kong, we have determined that the risks of interruption, cost of such insurance and the difficulties associated with acquiring such insurance on commercially reasonable terms make it impractical for us to have such insurance. As a result, we could face liability from the interruption of our business as summarized under “Risk Factors – Risks Related to Our Business – We do not carry business interruption or other insurance, so we have to bear losses ourselves.”

~~The~~ITEM ~~Company~~1A. ~~does~~RISK not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investorsFACTORS.

~~ITEM~~You 7Ashould carefully review and consider the following risks as well as all other information contained in this Annual Report on Form 10-K, including our financial statements and the notes to those statements. ~~QUANTITATIVE~~The ~~AND~~following ~~QUALITATIVE~~risks ~~DISCLOSURES~~and ~~ABOUT~~uncertainties ~~MARKET~~are ~~RISK~~not the only ones facing us. Additional risks and uncertainties of which we are currently unaware or which we believe are not material also could materially adversely affect our business, financial condition, results of operations, or cash flows. To the extent any of the information contained in this annual report constitutes forward-looking information, the risk factors set forth below are cautionary statements identifying important factors that could cause our actual results for various financial reporting periods to differ materially from those expressed in any forward-looking statements made by or on our behalf and could materially adversely affect our financial condition, results of operations or cash flows.

~~Not~~An ~~applicable~~investment in our common stock involves a high degree of risk. You should carefully consider the risks described below, together with all of the other information included in this report, before making an investment decision. If any of the following risks actually occurs, our business, financial condition or results of operations could suffer. In that case, the trading price of our common stock could decline, and you may lose all or part of your investment.

~~Page~~RISKS -RELATED 14TO OUR BUSINESS

~~ITEM~~We 8.have ~~FINANCIAL~~a ~~STATEMENTS~~short ~~AND~~operating ~~SUPPLEMENTARY DATA~~history.

~~INDEX~~We TOwere ~~THE~~founded ~~AUDITED~~in ~~FINANCIAL~~2004. ~~STATEMENTS~~We may not succeed in implementing our business plan successfully because of competition from domestic and foreign market entrants, failure of the market to accept our products, or other reasons. Therefore, you should not place undue reliance on our past performance as they may not be indicative of our future results.

Report of Independent Registered Public Accounting Firm	F -1
Balance Sheet	F -2
Statement of Operations	F -3
Statement of Stockholders’ Deficit	F -4
Statement of Cash Flows	F -5
Notes to the Audited Financial Statements	F -6 - 16

Our senior management lacks experience managing a public company and complying with laws applicable to operating as a U.S. public company.

~~Page~~On October 30, 2010, Greatmat Holdings completed a transaction with Aurum, the result of which was for Greatmat Holdings to become wholly-owned 15subsidiaries of Aurum, a U.S. public company. At the same time, however, the management of Aurum resigned from its positions within Aurum, and the management of Greatmat became the management of our Company. While the previous management of Aurum had experience in managing a U.S. publicly traded company, the management of Greatmat did not. Prior to the completion of the Share Exchange, Greatmat was operated as a private company located in Hong Kong.

~~To the Board of Directors and Stockholders of~~19

~~Aurum~~Table ~~Explorations,~~of ~~Inc.:~~Contents

~~REPORT~~As OFa ~~INDEPENDENT~~result ~~REGISTERED~~of ~~PUBLIC~~these ~~ACCOUNTING~~transactions, ~~FIRM~~our Company will become subject to laws, regulations and obligations that did not previously apply to it, and our senior management currently has limited experience in complying with such laws, regulations and obligations. For example, we will need to comply with the Nevada laws applicable to companies that are domiciled in that state. By contrast, such senior management is currently experienced in operating the business of Greatmat in compliance with Hong Kong law. Similarly, by virtue of these transactions we will be required to file quarterly and annual reports and to comply with U.S. securities and other laws, which may not have applied to our Company in the past. These obligations can be burdensome and complicated, and failure to comply with such obligations could have a material adverse effect on our company. In addition, we expect that the process of learning about such new obligations as a public company in the United States will require senior management to devote time and resources to such efforts that might otherwise be spent on the operation of the business of selling and producing engineered stone products.

We ~~have~~face ~~audited~~risks ~~the accompanying balance sheet of Aurum Explorations, Inc. as of July 31, 2010 and 2009, and the~~ related ~~statements~~to ofgeneral ~~operations,~~domestic ~~stockholders’ deficit~~ and global ~~cash~~economic ~~flows~~conditions ~~for the years ended July 31, 2010~~ and ~~2009. These~~to ~~financial statements are~~ the ~~responsibility~~current ofcredit ~~the Company’s management~~crisis. ~~Our responsibility is to express an opinion on these financial statements based on our audit.~~

WeOur ~~conducted~~current ~~our~~operating ~~audit~~cash inflows ~~accordance~~provide us with ~~the~~stable funding ~~standards~~capacity. ofHowever, the ~~Public~~current ~~Company~~uncertainty ~~Accounting~~arising ~~Oversight~~out ~~Board~~of ~~(United~~domestic ~~States). Those standards require that we plan~~ and ~~perform~~global ~~the~~economic ~~audit~~conditions, toincluding ~~obtain reasonable assurance about whether~~ the ~~financial~~recent disruption ~~statements~~in ~~are~~credit ~~free~~markets, ofposes ~~material~~a ~~misstatement.~~risk ~~The Company is not required~~ to ~~have,~~the ~~nor~~Asian ~~were we engaged to perform~~economy, anand ~~audit~~may ofimpact ~~its~~our ~~internal~~ability ~~control~~to ~~over~~manage ~~financial~~normal ~~reporting.~~relationships ~~Our~~with our ~~audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances~~customers, ~~but~~suppliers ~~not~~and ~~for~~creditors. ~~the~~If ~~purpose of expressing an opinion on~~ the ~~effectiveness~~current ofsituation ~~the~~deteriorates ~~Company’s~~significantly, ~~internal~~our ~~control~~business ~~over~~could ~~financial~~be ~~reporting.~~materially ~~Accordingly~~negatively impacted, weas ~~express~~demand nofor ~~such~~our ~~opinion.~~products Anmay ~~audit~~decrease ~~includes~~from ~~examining, on~~ a ~~test~~slow-down ~~basis, evidence supporting the amounts and disclosures~~ in the ~~financial~~general ~~statements. An audit also includes assessing the accounting principles used and significant estimates made by management~~economy, asor ~~well~~supplier asor ~~evaluating~~customer ~~the~~disruptions may ~~overall~~result ~~financial~~from ~~statement~~tighter ~~presentation.~~credit ~~We believe that our audit provides a reasonable basis for our opinion~~markets.

InOur ~~our~~business ~~opinion,~~is ~~the~~subject ~~financial statements referred~~ to ~~above present fairly, in all material respects,~~ the ~~financial~~health ~~position~~ of ~~Aurum~~the ~~Explorations~~PRC, Hong ~~Inc.~~Kong asand ofAsian ~~July~~economies ~~31, 2010~~ and ~~2009,~~our ~~and~~growth ~~the~~may ~~results~~be ofinhibited ~~its~~by ~~operations, stockholders equity and its cash flows for~~ the ~~years~~inability ~~then~~of ~~ended~~potential incustomers ~~conformity~~to ~~with~~fund ~~accounting~~purchases ~~principles generally accepted in the United States~~ of ~~America~~our products.

~~The~~Our ~~accompanying~~products ~~financial~~are ~~statements~~dependent ~~have~~on ~~been~~the ~~prepared~~strength ~~assuming~~of the ~~Company~~construction industry ~~will continue as a going concern. As discussed~~ in ~~Note 2~~China, ~~the~~Hong ~~Company~~Kong ~~has a history of operating losses, has limited cash resources, has negative working capital~~ and ~~its~~elsewhere viability is dependent upon its ability to meet its future financing requirements and the success of future operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans regarding those matters are also described in ~~Note~~Asia, 2.which ~~The~~could ~~financial~~be ~~statements~~adversely doaffected ~~not~~by ~~include~~an ~~any~~economic ~~adjustments that might result from the outcome of this uncertainty~~downturn.

~~ALBERT~~In ~~WONG~~order &to ~~COMPANY~~grow at the pace expected by management, we will require additional capital to support our long-term growth strategies. If we are unable to obtain additional capital in future years, we may be unable to proceed with our plans and we may be forced to curtail our operations.

~~Certified~~We ~~Public~~will ~~Accountants~~require additional working capital to support our long-term growth strategies, which include increasing the number of projects we take on, establishing additional marketing and research facilities, developing additional product lines and engaging in increased promotion of our products and brands. Our working capital requirements and the cash flow provided by future operating activities, if any, may vary greatly from quarter to quarter, depending on the volume of business during the period. We may not be able to obtain adequate levels of additional financing, whether through equity financing, debt financing or other sources. Additional financings could result in significant dilution to our earnings per share or the issuance of securities with rights superior to our currently outstanding securities. In addition, we may grant registration rights to investors purchasing our equity or debt securities in the future. If we are unable to raise additional financing, we may be unable to implement our long-term growth strategies, develop or enhance our products and related brands, take advantage of future opportunities or respond to competitive pressures on a timely basis.

~~Hong~~We ~~Kong~~depend on the leadership and services of Chris Yun Sang SO who is our founder and chief executive officer, and our business and growth prospects may be severely disrupted if we lose his services.

~~October~~Our 6future success is dependent upon the continued service of Chris Yun Sang SO, ~~2010~~our founder and chief executive officer. We rely on his industry expertise and experience in our business operations, and in particular, his business vision, management skills, and working relationships with our employees and customers. We do not have an employment agreement with Mr. So and he is under no obligation to remain with Greatmat. We do not maintain key-man life insurance for Mr. So. If he is unable or unwilling to continue in his present position or if he joins a competitor or forms a competing company, we may not be able to replace him easily or at all. As a result, our business and growth prospects may be severely disrupted if we lose his services.

FIf -we 1are unable to attract and retain senior management and qualified technical, research and sales personnel, our operations, financial condition and prospects will be materially adversely affected.

AURUM EXPLORATIONS, INC.
BALANCE SHEETS
(Amounts expressed in U.S. Dollars)
		July 31,			July 31,
		2010			2009
ASSETS
Current Assets
Cash	$	-		$	-
TOTAL ASSETS	$	-		$	0
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current Liabilities
Accrued liabilities	$	9,252		$	8,785
Amount due to a director		24,017			-
Total liabilities		33,269			8,785
SHAREHOLDERS’ DEFICIT
Share Capital
$0.001 par value, 50,000,000 shares authorized;
8,860,000 (2009 - 8,860,000) shares issued and outstanding		8,860			8,860
Additional Paid-in Capital		138,262			138,262
Accumulated Deficit		(180,391	)		(155,907	)
Total stockholders' deficit		(33,269	)		(8,785	)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	$	-		$	-

~~The~~Table ~~accompanying notes are an integral part~~ of ~~these audited financial statements.~~Contents

FOur -future 2success depends in part on the contributions of our management team and key technical, research and sales personnel and our ability to attract and retain qualified new personnel. In particular, our success depends on the continuing employment of our Chief Executive Officer, Chris Yun Sang SO, our General Manager, Carol Lai Ping HO, and our Marketing Director, Rick Chun Wah TSE. We do not have employment agreements with any of our management personnel or employees. There is significant competition in our industry for qualified managerial, technical, research and sales personnel and we cannot assure you that we will be able to retain our key senior managerial, technical, research and sales personnel or that we will be able to attract, integrate and retain other such personnel that we may require in the future. If we are unable to attract and retain key personnel in the future, our business, operations, financial condition, results of operations and prospects could be materially adversely affected.

AURUM EXPLORATIONS, INC.
STATEMENTS OF OPERATIONS
FOR THE PERIOD FROM APRIL 27, 2007 (INCEPTION) to JULY 31, 2010
(Amounts expressed in U.S. Dollars)
								For the period
								from April 27,
		For the			For the			2007 (inception)
		year ended			year ended			to
		July 31,			July 31,			July 31,
		2010			2009			2010
Revenue	$	-		$	-		$	-
Expenses
Exploration and development expenses		0			1,009			17,691
Filing fees		2,894			1,032			20,361
Office and miscellaneous expenses		51			8,134			26,433
Professional fees		21,539			32,868			115,906
Net Loss and Comprehensive Loss For The Year/Period	$	24,484		$	43,043		$	180,391
Loss Per Share – Basic and Diluted	$	(0.003	)	$	(0.005	)
Weighted Average Number of Shares Outstanding		8,860,000			8,860,000

We rely on a single third-party manufacturer to manufacture our products.

~~The~~We ~~accompanying~~depend ~~notes~~on ~~are~~a ansingle ~~integral~~contract ~~part~~manufacturer to manufacture the products that we sell. Any significant problems at our third-party manufacturer’s production facility could impact our ability to deliver our products. If this contract manufacturer is unable to maintain adequate manufacturing and shipping capacity, it may be unable to provide us with timely delivery of products of acceptable quality. Our inability to meet our customers’ demand for our products could have a material adverse impact on our business, financial condition and results of operations. In addition, if the prices charged by this contractor increase for reasons such as increases in labor costs or currency fluctuations, our cost of manufacturing would increase, adversely affecting our results of operations. We also depend on third parties to transport and deliver our products. Due to the fact that we do not have any independent transportation or delivery capabilities of our own, if these ~~audited~~third parties are unable to transport or deliver our products for any reason, or if they increase the price of their services, including as a result of increases in the cost of fuel, our operations and financial ~~statements~~performance may be adversely affected.

FWe -require 3our contract manufacturer to meet our standards in terms of product quality and other matters. Any failure by our contract manufacturer to meet these standards, to adhere to labor or other laws or to diverge from our mandated practices, and the potential negative publicity relating to any of these events, could harm our business and reputation.

~~AURUM~~Our ~~EXPLORATIONS,~~agreement ~~INC.~~with ~~STATEMENT~~our OFcontract ~~STOCKHOLDERS’~~manufacturer ~~DEFICIT~~is ~~FOR~~terminable at ~~THE~~will ~~PERIOD~~by ~~FROM~~either ~~APRIL~~party. ~~27,~~To ~~2007~~the ~~(INCEPTION)~~extent TOwe ~~JULY~~are ~~31,~~unable ~~2010~~to ~~(Amounts~~maintain ~~expressed~~or insecure ~~U.S.~~relationships ~~Dollars)~~with quality manufacturers, our business could be harmed.

	Common Stock
	Share		Amount			Additional Paid-in Capital	Stock Subscription Rec.			Accumulated Deficit			Total
Balance, April 27, 2007	-	$	-		$	-	$	-	$	-		$	-
(Date of inception)
Founding shares issued
for cash at par	5,000,000		5,000			-		-		-			5,000
Shares issued for cash	3,276,000		3,276			48,524		-		-			51,800
Subscriptions receivable	84,000		84			4,116		(4,200	)	-			-
Donated rent and services	-		-			2,411		-		-			2,411
Net loss for the period	-		-			-		-		(34,095	)		(34,095		)
Balance, July 31, 2007	8,360,000		8,360			55,051		(4,200	)	(34,095	)		25,116
Cash received for subscription receivable	-		-			-		4,200		-			4,200
Shares issued for services	500,000		500			-		-		-			500
Donated rent and services	-		-			10,145		-		-			10,145
Net loss for the year	-		-			-		-		(78,769	)		(78,769		)
Balance, July 31, 2008	8,860,000		8,860			65,196		-		(112,864	)		(38,808	)
Donated rent and services	-			-		6,456		-		-			6,456
Waiver of amount due to the former shareholder	-		-			66,610		-		-			66,610
Net loss for the year	-		-			-		-		(43,043	)		(43,043	)
Balance, July 31, 2009	8,860,000		8,860			138,262		-		(155,907	)	$	(8,785	)
Net loss for the year	-		-			-		-		(24,484	)		(24,484	)
Balance, July 31, 2010	8,860,000	$	8,860		$	138,262	$	-	$	(180,391	)	$	(33,269	)

The interests of our third-party manufacturer may diverge from ours, and we may not have the ability to make it act in a manner consistent with our best interests.

~~The~~Our ~~accompanying~~business ~~notes~~relationship with our third-party manufacturer does not allow us to control its actions in the way that we could if we owned it. Although we are currently operating under an exclusive ~~integral~~manufacturing ~~part~~agreement that prohibits them from competing with us, this agreement may be terminated at any time by either party. As a result, we may not be able to prevent our exclusive manufacturer from engaging in activities or pursuing strategic objectives that conflict with our interests or strategic objectives. Our ability to influence or control its business depends on the nature of ~~these~~our ~~audited~~contractual ~~financial~~relationship. ~~statements~~We are not entitled to participate in the management of our exclusive manufacturer.

FIf -we 4are unable to accurately estimate and control our contract costs and timelines, then we may incur losses on our contracts, which may result in decreases in our operating margins and in a significant reduction or elimination of our profits.

AURUM EXPLORATIONS, INC.
STATEMENTS OF CASH FLOWS
(Amounts expressed in U.S. Dollars)
		For the year ended July 31, 2010				For the year ended July 31, 2009				For the period from April 27 2007 (inception) to July 31, 2010
Cash Flows From Operating Activities
Net loss for the year/period	$	(24,484		)	$	(43,043		)	$	(180,391		)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for services		-				-				500
Donated rent and services		-				6,456				19,012
Changes in current assets and liabilities
Accrued liabilities		467				(12,243		)		9,252
		(24,017		)		(48,830		)		(151,627		)
Cash Flows From Financing Activities
Amount due to the former shareholder		-				45,249				66,610
Amount due to a director		24,017				-				24,017
Shares issued for cash		-				-				56,800
Cash received on subscriptions		-				-				4,200
		24,017				45,249				151,627
(Decrease) Increase In Cash		-				(3,581		)		-
Cash, Beginning of Year/Period		-				3,581				-
Cash, End of Year/Period	$	-			$	-			$	-
Non-cash investing and financing activities
Shares issued for subscription	$		-		$		-		$		4,200
Waiver of amount due to the former shareholder	$		-		$		66,610		$		66,610
Supplemental Disclosure of Cash Flow information:
Interest Paid	$		-		$		-		$		-
Income Taxes Paid	$		-		$		-		$		-

If we do not control our contract costs, we may be unable to maintain positive operating margins or experience operating losses. All of our sales are from fixed-price contracts. Under fixed-price contracts, we receive a fixed price. Consequently, we realize a profit on fixed-price contracts only if we control our costs and prevent cost over-runs on the contracts. If we are unable to estimate and control costs and/or project timelines, we may incur losses on our contracts, which may result in decreases in our operating margins and in a significant reduction or elimination of our profits.

~~The~~We ~~accompanying~~depend ~~notes~~on ~~are~~a ansmall ~~integral~~number ~~part~~of customers for the vast majority of our sales. A reduction in business from any of these ~~audited~~customers ~~financial~~could ~~statements~~cause a significant decline in our sales and profitability.

~~F - 5~~21

~~AURUM~~Table ~~EXPLORATIONS,~~of ~~INC.~~Contents

~~NOTES~~The TOlarge ~~THE~~majority ~~AUDITED~~of ~~FINANCIAL~~our ~~STATEMENTS~~sales are generated from a small number of customers. Currently, our largest customer in terms of sales is Hang Lung Properties, which currently accounts for about 50% of our 2010 sales. Our next two largest customers are China Estate Holdings and Sino Group, which each account for about 20% of our sales. We expect that we will continue to depend upon a small number of customers for a significant majority of our sales for the foreseeable future. A reduction in business from any of these customers could cause a significant decline in our sales and profitability.

ASOur OFoperations ~~JULY~~rely ~~31,~~on ~~2010~~a continuous power supply and the ready availability of utilities and any shortages or interruptions could disrupt our operations and increase our expenses.

~~(Amounts~~The ~~expressed~~manufacture of our products relies on a continuous and uninterrupted supply of electric power, water and natural gas, as well as waste and emission discharge facilities. Any shortage, interruption or discharge curtailment would significantly disrupt our operations and increase our expenses although we have backup generators or alternate sources of power to support our production in Uthe event of a blackout.S In addition, our insurance coverage does not extend to any damage resulting from interruption in our power supply. ~~Dollars)~~Any interruption in our ability to continue operations at our facilities could damage our reputation, harm our ability to retain existing customers or obtain new customers and could result in severe loss, any of which could have a material adverse effect on our business, financial condition and/or results of operations.

~~NOTE~~Increases 1in –energy ~~ORGANIZATION~~and ~~AND~~fuel ~~DESCRIPTION~~costs OFwould ~~BUSINESS~~have a material adverse effect on our business, financial conditions and results of operations.

~~AURUM~~Energy ~~EXPLORATIONS,~~is ~~INC.~~a ~~(“the~~significant ~~Company”)~~cost ~~was incorporated~~ in ~~the~~our ~~State of Nevada on April 27, 2007~~production. ~~The~~ ~~Company~~Any increase ~~was~~or ~~formed~~material ~~for~~fluctuation ~~the purpose of acquiring exploration and development stage natural resources properties. The Company had been~~ in ~~the~~energy ~~exploration stage since its incorporation~~ and ~~had~~fuel ~~not~~costs ~~yet~~could ~~realized~~have ~~any~~a ~~revenue~~material ~~from~~adverse ~~its~~effect ~~planned~~on ~~operations. In~~our ~~July 2009~~business, ~~there~~financial ~~was a change in control of the Company~~ condition and/or asresults ~~a result, the Company became dormant. The Company is currently in the development stage as defined in ASC 915 (formerly SFAS No. 7). All activities~~ of ~~the Company to date relate to its organization, initial funding and share issuances~~operations.

~~NOTE~~We 2may -not ~~SUMMARY~~be OFable ~~SIGNIFICANT~~to ~~ACCOUNTING~~realize ~~POLICIES~~our expected production capacity increase to reap the full economic benefits of our increased sales.

~~The~~If ~~financial~~we ~~statements~~fail ofto ~~the~~obtain ~~Company~~our ~~have~~desired ~~been~~production ~~prepared~~output inlevels from ~~accordance~~our ~~with~~third-party ~~U.S.~~manufacturer ~~generally~~due ~~accepted~~to ~~accounting~~insufficient ~~principles.~~funding, ~~Because~~technical adifficulties, ~~precise~~human ~~determination~~or ofother ~~many~~resource ~~assets~~constraints, ~~and~~or for ~~liabilities~~whatever isother ~~dependent~~reasons, ~~upon~~we ~~future~~may ~~events,~~not ~~the~~be ~~preparation~~able ofto ~~financial~~attain ~~statements~~our ~~necessarily~~desired ~~involves~~production capacity or obtain the ~~use~~intended economic benefits of ~~estimates~~our ~~which~~increased ~~have~~sales, ~~been~~such ~~made~~as ~~using~~economies ~~careful~~of ~~judgment. Actual~~scales, ~~results~~in a full or timely manner, which may ~~vary~~adversely ~~from~~affect ~~these~~our ~~estimates~~business, results of operations and/or financial conditions.

~~The~~We ~~financial~~may ~~statements~~incur ~~have,~~substantial incosts ~~management’s~~as ~~opinion,~~a ~~been~~result ~~properly~~of warranty ~~prepared~~and ~~within~~product ~~reasonable~~liability ~~limits~~claims ofwhich ~~materiality~~could ~~and~~have ~~within~~an ~~the~~adverse ~~framework~~effect ofon ~~the~~our ~~significant~~results ~~accounting~~of ~~policies summarized below:~~operations.

~~Earnings~~The ~~per~~development, ~~Share~~manufacture, sale and use of our products involve risks of warranty and product liability claims. We provide a ten-year warranty for all of our products. Warranty and product liability claims would not be covered by our insurance. Warranties of such an extended length pose a risk to us of unanticipated future expenses. In the past, we have corrected any problems with respect to our products by repairing or replacing the product in issue with minimal expense. Historically, we have not recorded any warranty expense as we have incurred minimal expense related to warranty claims. We may be required to record material expense in the future if actual costs for these warranties are different from our assumptions.

~~The~~We ~~Company~~do ~~reports~~not maintain ~~the~~any ~~loss~~business ~~per~~liability, ~~share~~disruption inor ~~accordance~~litigation ~~with~~insurance ~~ASC~~coverage ~~260-10~~for ~~(formerly~~our ~~SFAS~~operations, No. 128 – “Earnings per Share”). Basic loss per share is computed using the weighted average number of common stock outstanding during the year/period. Diluted loss per share is computed using the weighted average number of common and ~~potentially~~any ~~dilutive~~business ~~common stock outstanding during the year/period. At July 31~~liability, ~~2010~~disruption or ~~and~~litigation ~~2009,~~we ~~the~~experience ~~Company~~might ~~has~~result noin ~~common~~our ~~stock~~incurring ~~equivalents~~substantial ~~that~~costs ~~were anti-dilutive~~ and ~~excluded from~~ the ~~earnings~~diversion ~~per~~of ~~share computation~~resources.

FInsurance -companies in 6Hong Kong offer limited business insurance products and offer business limited liability insurance. While business disruption insurance is available to a limited extent in Hong Kong, we have determined that the risks of disruption, cost of such insurance and the difficulties associated with acquiring such insurance on commercially reasonable terms make it impractical for us to have such insurance. As a result, we do not have any business liability, disruption or litigation insurance coverage for our operations in Hong Kong SAR, Macau SAR or the PRC. Any business disruption or litigation may result in our incurring substantial costs and the diversion of resources.

~~NOTE~~Our 2quarterly -operating ~~SUMMARY~~results OFare ~~SIGNIFICANT~~likely ~~ACCOUNTING~~to ~~POLICIES~~fluctuate, which ~~(CONTINUED)~~may affect our stock price.

~~Foreign Currency Translation and Other Comprehensive Income~~22

~~The~~Table Company has adopted ASC 830-10 (formerly SFAS No. 52, “Foreign Currency Translation”). Monetary assets and liabilities denominated in foreign currencies are translated into United States dollars at rates of exchange in effect at the balance sheet date. Gains or losses are included in income statement for the year/period. Non-monetary assets, liabilities and items recorded in income arising from transactions denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. As the Company's functional currency is the U.S. dollar, and all translation gains and losses are transactional, and the Company has no assets with value recorded in foreign currency, there is no recognition of other comprehensive income in the financial statements.Contents

~~Going~~Our ~~Concern~~quarterly revenues, expenses, operating results and gross profit margins vary from quarter to quarter. As a result, our operating results may fall below the expectations of securities analysts and investors in some quarters, which could result in a decrease in the market price of our common stock. The reasons our quarterly results may fluctuate include:

~~These~~· ~~financial~~variations ~~statements have been prepared on a going concern basis. The Company has incurred losses since inception resulting~~ in anprofit ~~accumulated~~margins ~~deficit~~attributable ~~of $180,391 and further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability~~ to ~~continue~~different asproduction a going concern. Its ability to continue as a going concern is dependent upon the ability of the Company to identify any profitable operations to be acquired in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has plans to seek additional capital through a private placement of its common stock. These plans, if successful, will mitigate the factors which raise substantial doubt about the Company’s ability to continue as a going concern. The Company anticipates that it will need $50,000 to continue in existence for the following twelve months. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existencecontracts;

~~Use~~· ofchanges ~~Estimates~~in the general competitive and ~~Assumptions~~economic conditions;

~~The~~· ~~preparation~~delays ~~of financial statements~~ in, ~~conformity~~or ~~with~~uneven ~~United~~timing ~~States~~in ~~generally accepted accounting principles requires management to make estimates and assumptions that affect~~ the ~~reported~~delivery ~~amounts~~ of, ~~assets~~customer ~~and~~orders; ~~liabilities~~ and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

F· -the 7introduction of new products by us or our competitors.

~~NOTE~~Period 2to -period ~~SUMMARY~~comparisons OFof ~~SIGNIFICANT~~our ~~ACCOUNTING~~results ~~POLICIES~~should ~~(CONTINUED)~~not be relied on as indications of future performance.

~~Income~~Our ~~taxes~~limited ability to protect our intellectual property, and the possibility that our technology could inadvertently infringe technology owned by others, may adversely affect our ability to compete.

~~The~~We ~~Company~~rely ~~utilizes~~on ~~ASC~~a ~~740~~combination of patents, trademarks and trade secret laws to protect the technological know-10how ~~(formerly~~and ~~SFAS~~brands ~~No.~~that ~~109,~~comprise ~~"Accounting~~our ~~for~~intellectual ~~Income~~property. ~~Taxes,")~~A ~~which~~successful ~~requires~~challenge to the ~~recognition~~ownership of ~~deferred~~our ~~tax~~intellectual ~~assets~~property ~~and~~could ~~liabilities~~materially ~~for~~damage ~~the~~our ~~expected~~business ~~future~~prospects. ~~tax~~Our ~~consequences~~competitors ofmay ~~events~~assert that ~~have~~our technologies ~~been~~or ~~included~~products ininfringe ~~the~~on ~~financial~~their ~~statements~~patents or ~~tax~~proprietary ~~returns~~rights. ~~Under~~We ~~this~~may ~~method,~~be ~~deferred~~required ~~income~~to ~~taxes~~obtain ~~are~~from ~~recognized~~others ~~for~~licenses ~~tax~~that may ~~consequences~~not inbe ~~future~~available ~~years~~on ofcommercially ~~differences~~reasonable ~~between~~terms, ~~the~~if ~~tax~~at ~~basis~~all. ofProblems ~~assets~~with ~~and~~intellectual ~~liabilities~~property ~~and~~rights ~~their~~could ~~financial~~increase ~~reporting~~the cost ~~amounts~~of atour ~~each~~products ~~period~~or ~~end~~delay ~~based~~or onpreclude ~~enacted~~our ~~tax~~new ~~laws~~product development and ~~statutory~~commercialization. ~~tax~~If ~~rates~~infringement ~~applicable~~claims toagainst ~~the~~us are ~~periods~~deemed invalid, ~~which~~we ~~the~~may ~~differences~~not ~~are~~be ~~expected~~able to ~~affect~~obtain ~~taxable~~appropriate ~~income~~licenses on acceptable terms or at all. ~~Valuation~~Litigation ~~allowances~~could ~~are~~be ~~established,~~costly ~~when~~and time-consuming but may be necessary, to ~~reduce~~protect ~~deferred~~our ~~tax~~technology ~~assets~~license topositions ~~the~~or ~~amount~~to ~~expected~~defend toagainst beinfringement ~~realized~~claims.

~~The~~Our ~~Company~~business ~~accounts~~may ~~for~~be ~~income~~subject ~~taxes~~to ~~using~~seasonal ~~an asset~~ and ~~liability~~cyclical fluctuations ~~approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits~~ in ~~future years~~sales. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.

~~The~~We ~~Company~~may ~~records~~experience aseasonal ~~valuation~~fluctuations ~~allowance~~in ~~for~~our ~~deferred~~revenue. ~~tax assets~~Moreover, our ifrevenues ~~any,~~are ~~based~~usually onslightly ~~its~~higher ~~estimates~~in ~~of its future taxable income as well as its tax planning strategies when it is more likely than not that a portion or all of its deferred tax assets will not be realized. If~~ the ~~Company~~third isand ~~able~~fourth toquarters ~~utilize~~due ~~more of its deferred tax assets than the net amount previously recorded when unanticipated events occur, an adjustment~~ to ~~deferred~~seasonal ~~tax assets would increase the Company’s net income~~purchases. ~~The Company does not have any significant deferred tax assets or liabilities in the United States of America.~~

~~The~~RISKS ~~Company~~RELATED ~~adopted~~TO ~~the~~DOING ~~provisions~~BUSINESS IN of ASC 740-10 (formerly FIN 48, “Accounting for Uncertainty in Income Taxes”) and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740-10 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.CHINA

~~Based~~Changes ~~on our evaluation, we have concluded that there are no significant uncertain tax positions requiring recognition~~ in ~~our~~China's ~~financial~~political ~~statements. We may from time to time be assessed interest~~ or ~~penalties~~economic bysituation could ~~major~~harm ~~tax~~us ~~jurisdictions. In the event we receive an assessment for interest~~ and~~/or~~ ~~penalties,~~our itoperating ~~will be classified in the financial statements as tax expense~~results.

FAll -of 8our business operations are currently conducted in Hong Kong, under the jurisdiction of the Hong Kong SAR, Macau SAR and PRC governments. All of our products are manufactured by our sole manufacturer in the PRC, and we sell the majority of our products to customers in the PRC. Accordingly, our results of operations, financial condition and prospects are subject to a significant degree to economic, political and legal developments in China. However, economic reforms adopted by the Chinese government have had a positive effect on the economic development of the country, but the government could change these economic reforms or any of the legal systems at any time. This could either benefit or damage our operations and profitability. Some of the things that could have this effect are:

~~NOTE~~· 2Level -of ~~SUMMARY~~government OFinvolvement ~~SIGNIFICANT~~in ~~ACCOUNTING~~the ~~POLICIES (CONTINUED)~~economy;

~~Fair~~· ~~values~~Control of ~~financial~~foreign ~~instruments~~exchange;

~~ASC~~· ~~825-10~~Methods ~~(formerly SFAS No. 107, "Disclosures about Fair Value~~ of ~~Financial~~allocating Instruments,") requires that the Company disclose estimated fair values of financial instruments. The Company's financial instruments primarily consist of cash, accrued liabilities and amount due to the former shareholder.resources;

As· ofBalance ~~the balance sheet dates, the estimated fair values~~ of ~~the~~payments financial instruments were not materially different from their carrying values as presented on the balance sheet. This is attributed to the short maturities of the instruments and to the interest rates on the borrowings approximating those that would have been available for loans of similar remaining maturity and risk profile at respective balance sheet dates.position;

~~Recent Accounting Pronouncements Adopted~~23

InTable ~~June 2009, the FASB established the FASB Accounting Standards Codification TM (ASC) as the single source~~ of authoritative U.S generally accepted accounting principles (GAAP) recognized by the FASB to be applied to nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The ASC superseded all previously existing non-SEC accounting and reporting standards, and any prior sources of U.S. GAAP not included in the ASC or grandfathered are not authoritative. New accounting standards issued subsequent to June 30, 2009 are communicated by the FASB through Accounting Standards Updates (ASUs). The ASC did no change current U.S. GAAP but changes the approach by referencing authoritative literature by topic (each a “Topic”) rather than by type of standard. The ASC has been effective for the Company effective July 1, 2009. Adoption of the ASC did not have a material impact on the Company’s Audited Financial Statements, but references in the Company’s Notes to Audited Financial Statements to former FASB positions, statements, interpretations, opinions, bulletins or other pronouncements are now presented as references to the corresponding Topic in the ASC.Contents

~~Effective~~· ~~January~~International 1,trade ~~2009,~~restrictions; ~~the first day of fiscal 2009, the Company adopted FASB ASC 350-30~~ and ASC 275-10-50 (formerly FSP FAS 142-3, “Determination of the Useful Life of Intangible Assets”), which amends the factors that should be considered in developing renewal or extension assumptions used to determine the useful life of a recognized intangible asset under SFAS No. 142 ("SFAS 142"), “Goodwill and Other Intangible Assets.” The Company will apply ASC 350-30 and ASC 275-10-50 prospectively to intangible assets acquired subsequent to the adoption date. The adoption of these revised provisions had no impact on the Company’s Audited Financial Statements.

~~Effective~~· ~~January~~International 1, 2009, the Company adopted FASB ASC 815-10-65 (formerly SFAS 161, “Disclosures about Derivative Instruments and Hedging Activities”), which amends and expands previously existing guidance on derivative instruments to require tabular disclosure of the fair value of derivative instruments and their gains and lossesconflict., This ASC also requires disclosure regarding the credit-risk related contingent features in derivative agreements, counterparty credit risk, and strategies and objectives for using derivative instruments. The adoption of this ASC did not have an impact on the Company’s Audited Financial Statements.

FThe Chinese economy differs from the economies of most countries belonging to the Organization for Economic Cooperation and Development, or OECD, in many ways. For example, state-owned enterprises 9still constitute a large portion of the Chinese economy and weak corporate governance and a lack of flexible currency exchange policy still prevail in China. As a result of these differences, we may not develop in the same way or at the same rate as might be expected if the Chinese economy was similar to those of the OECD member countries.

~~NOTE~~Fluctuation 2in -the ~~SUMMARY~~value OFof ~~SIGNIFICANT~~RMB ~~ACCOUNTING~~and ~~POLICIES~~the ~~(CONTINUED)~~Hong Kong Dollar relative to other currencies may have a material adverse effect on our business and/or an investment in our shares.

~~Recent~~Payments ~~Accounting~~from ~~Pronouncements~~our ~~Adopted~~customers ~~(Continued)~~in China are denominated in Hong Kong Dollars. The value of RMB and the Hong Kong Dollar against the U.S. dollar and other currencies may fluctuate and is affected by, among other things, changes in political and economic conditions. Although the exchange rate between RMB and the U.S. dollar has been effectively pegged by the People’s Bank of China since 1994, and the rate between the Hong Kong Dollar has been pegged to the U.S. dollar since 1983, there can be no assurance that these currencies will remain pegged to the U.S. dollar, especially in light of the significant international pressure on the Chinese government to permit the free floatation of the RMB, which would result in fluctuations in the exchange rate between the RMB and the U.S. dollar. In addition, a strengthening of the U.S. dollar against the Hong Kong Dollar, if it occurred, would adversely affect the value of your investment.

~~During~~You ~~2008,~~may ~~the~~face ~~Company~~difficulties ~~adopted~~in ~~FASB~~protecting ~~ASC~~your ~~820-10 (formerly FSP FAS 157-2~~interests, ~~"Effective~~ and ~~Date~~your ofability ~~FASB~~to ~~Statement~~protect ~~157"),~~your ~~which~~rights ~~deferred~~through the ~~provisions of previously issued fair value guidance for non-financial assets and liabilities to the first fiscal period beginning after November 15, 2008~~U.S. ~~Deferred~~federal ~~nonfinancial~~courts ~~assets~~may ~~and~~be ~~liabilities~~limited ~~include~~because ~~items~~our ~~such~~subsidiaries asare ~~goodwill~~incorporated in ~~and other~~ non-~~amortizable intangibles~~U.S. ~~Effective January 1~~jurisdictions, ~~2009,~~we ~~the~~conduct ~~Company~~substantially ~~adopted~~all ~~the~~of ~~fair~~our ~~value~~operations ~~guidance~~in ~~for~~Hong ~~nonfinancial~~Kong, ~~assets~~ and ~~liabilities.~~all ~~The adoption~~ of ~~FASB~~our ~~ASC~~officers ~~820-10~~reside ~~did not have a material impact on~~ outside the ~~Company’s~~United ~~Audited Financial Statements~~States.

~~Effective~~Although ~~January~~we 1,are ~~2009~~incorporated in Nevada, ~~the~~we ~~Company~~conduct ~~adopted~~substantially all ~~FASB~~of ~~ASC~~our ~~810-10-65~~operations ~~(formerly~~through ~~SFAS~~our ~~160,~~wholly ~~"Non-controlling~~owned ~~Interests~~subsidiaries in ~~Consolidated~~Hong ~~Financial~~Kong. ~~Statements~~All ~~— an amendment~~ of ~~ARB~~our ~~No.~~officers ~~51"),~~reside ~~which~~outside ~~amends~~the ~~previously~~United ~~issued guidance to establish accounting~~ States and ~~reporting~~some ~~standards~~or ~~for~~all of the ~~non-controlling~~assets ~~interest~~of inthose apersons ~~subsidiary~~are ~~and~~located ~~for~~outside ~~the deconsolidation~~ of athe ~~subsidiary~~United States. ItAs ~~clarifies that~~ a ~~non-controlling~~result, ~~interest~~it inmay abe ~~subsidiary,~~difficult ~~which~~or isimpossible for ~~sometimes~~you ~~referred~~ to asbring ~~minority interest, is~~ an ~~ownership~~action ~~interest~~against inus ~~the~~or ~~consolidated~~against ~~entity~~these ~~that~~individuals ~~should~~in beHong ~~reported~~Kong asin ~~equity.~~the ~~Among~~event ~~other~~that ~~requirements,~~you ~~this~~believe ~~Statement requires~~ that ~~the~~your ~~consolidated~~rights have ~~net~~been ~~income~~violated ~~attributable~~under toU.S. ~~the~~securities ~~parent~~laws ~~and~~or ~~the~~otherwise. ~~non-controlling~~Even ~~interest~~if beyou ~~clearly~~are ~~identified~~successful ~~and~~in ~~presented~~bringing onan ~~the~~action ~~face~~ of ~~the~~this ~~consolidated~~kind, ~~income~~the laws ~~statement. The adoption~~ of ~~the~~Hong ~~provisions~~Kong inmay ~~this~~render ~~ASC~~you ~~did~~unable ~~not~~to ~~have~~enforce a ~~material~~judgment ~~impact~~against onour assets or the ~~Company’s~~assets ~~Audited~~of ~~Financial~~our ~~Statements~~directors and officers.

~~Effective~~The ~~January~~PRC 1,government ~~2009,~~exerts ~~the~~substantial ~~Company~~influence over ~~adopted FASB ASC 805-10, (formerly SFAS 141R, "Business Combinations"), which establishes principles and requirements for how an acquirer recognizes and measures in its financial statements~~ the ~~identifiable~~manner ~~assets acquired, the liabilities assumed, any non-controlling interest~~ in anwhich ~~acquiree~~we ~~and~~must ~~the~~conduct ~~goodwill acquired. In addition, the provisions in this ASC require that any additional reversal of deferred tax asset valuation allowance established in connection with~~ our ~~fresh~~ start reporting on January 7, 1998 be recorded as a component of income tax expense rather than as a reduction to the goodwill established in connection with the fresh start reporting. The Company will apply ASC 805-10 to any business ~~combinations subsequent to adoption~~activities.

~~Effective~~The ~~January~~PRC 1,government ~~2009,~~has ~~the~~exercised ~~Company~~and ~~adopted~~continues ~~FASB~~to ~~ASC~~exercise substantial ~~805-20~~control ~~(formerly~~over ~~FSP~~virtually ~~FAS~~every ~~141R-1,~~sector ~~"Accounting~~of ~~for~~the ~~Assets~~Chinese ~~Acquired~~economy ~~and~~through ~~Liabilities~~regulation ~~Assumed~~and instate aownership. ~~Business~~Our ~~Combination~~ability ~~That~~to ~~Arise~~operate in ~~from~~China ~~Contingencies"),~~may ~~which~~be ~~amends~~harmed ~~ASC~~by ~~805-10~~changes toin ~~require~~its ~~that~~laws anand ~~acquirer~~regulations, ~~recognize~~including atthose ~~fair~~relating ~~value,~~to at the ~~acquisition~~construction ~~date~~industry, antaxation, import ~~asset~~and ~~acquired~~export ortariffs, aenvironmental ~~liability~~regulations, ~~assumed~~land inuse arights, ~~business~~property ~~combination~~and ~~that~~other ~~arises~~matters. ~~from~~We abelieve ~~contingency~~that ifour ~~the~~operations in ~~acquisition-date~~China ~~fair~~are ~~value~~in ofmaterial ~~that~~compliance ~~asset~~with orall ~~liability~~applicable ~~can~~legal beand ~~determined~~regulatory ~~during the measurement period~~requirements. IfHowever, the ~~acquisition-date~~central ~~fair~~or ~~value~~local governments of ~~such~~the anjurisdictions ~~asset~~in ~~acquired~~which orwe ~~liability~~operate ~~assumed~~may ~~cannot~~impose ~~be determined~~new, ~~the~~stricter ~~acquirer~~regulations ~~should~~or ~~apply~~interpretations ~~the provisions~~ of ~~ASC~~existing ~~Topic~~regulations ~~450,~~that ~~Contingences,~~would require toadditional ~~determine~~expenditures ~~whether~~and ~~the~~efforts ~~contingency~~on ~~should~~our bepart ~~recognized~~to atensure ~~the~~our ~~acquisition~~compliance ~~date~~with ~~or after~~ such ~~date.~~regulations ~~FSP~~or ~~The adoption of ASC 805-20 did not have a material impact on the Company’s Audited Financial Statements~~interpretations.

FAccordingly, -government 10actions in the future, including any decision not to continue to support recent economic reforms and to return to a more centrally planned economy or regional or local variations in the implementation of economic policies, could have a significant effect on economic conditions in China or particular regions thereof and could require us to divest ourselves of any interest we then hold in Chinese properties or joint ventures.

~~NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)~~24

~~Recent~~Table ~~Accounting~~of ~~Pronouncements Adopted (Continued)~~Contents

~~Effective~~Future ~~July~~inflation 1,in ~~2009,~~China ~~the~~may ~~Company~~inhibit ~~adopted~~our FASB ASC 825-10-65 (formerly FASB Staff Position (“FSP”) No. FAS 107-1 and Accounting Principles Board 28-1, "Interim Disclosures about Fair Value of Financial Instruments"), which amends previous guidance ability to ~~require~~conduct ~~disclosures~~business ~~about fair value of financial instruments for interim reporting periods of publicly traded companies as well as~~ in ~~annual financial statements~~China. ~~The adoption of FASB ASC 825-10-65 did not have a material impact on the Company’s Audited Financial Statements.~~

~~Effective~~In ~~July~~recent 1years, ~~2009,~~ the ~~Company~~Chinese ~~adopted~~economy ~~FASB~~has ~~ASC~~experienced periods ~~320-10-65~~of ~~(formerly~~rapid ~~FSP~~expansion ~~FAS 115-2~~ and ~~FAS~~highly ~~124-2,~~fluctuating ~~"Recognition~~rates ~~and Presentation~~ of ~~Other-Than-Temporary Impairments")~~inflation. ~~Under~~During ~~ASC~~the ~~320-10-65,~~past anten ~~other-than-temporary~~years, ~~impairment~~the ~~must~~rate beof ~~recognized~~inflation ifin ~~the Company~~ China has ~~the~~been ~~intent~~as tohigh ~~sell~~as ~~the~~20.7% ~~debt~~and ~~security~~as orlow ~~the~~as ~~Company~~-2.2%. isThese ~~more~~factors ~~likely~~have ~~than~~led ~~not will be required~~ to ~~sell~~ the ~~debt~~adoption ~~security~~by ~~before~~the ~~its~~Chinese ~~anticipated recovery. In addition~~government, ~~ASC~~from ~~320-10-65~~time ~~requires impairments related~~ to ~~credit loss~~time, of ~~which~~various iscorrective ~~the~~measures ~~difference~~designed ~~between~~to restrict the ~~present~~availability ~~value~~ of ~~the~~credit ~~cash~~or ~~flows~~regulate ~~expected~~growth ~~to be collected~~ and ~~the~~contain ~~amortized~~inflation. ~~cost~~High ~~basis~~inflation may ~~for~~in ~~each~~the ~~security,~~future tocause bethe ~~recognized~~Chinese ingovernment ~~earnings~~to ~~while~~impose ~~impairments~~controls ~~related~~on tocredit ~~all~~and/or ~~other~~prices, ~~factors~~or to betake ~~recognized in~~ other ~~comprehensive~~action, ~~income.~~which ~~The~~could inhibit ~~adoption~~economic ofactivity ~~ASC~~in ~~320-10-65~~China, ~~did~~and ~~not~~thereby ~~have~~harm athe ~~material~~market ~~impact~~for onour ~~the~~products ~~Company’s~~and ~~Audited~~our ~~Financial Statements~~Company.

~~Effective~~We ~~July~~may 1,be ~~2009,~~exposed ~~the~~to ~~Company~~liabilities ~~adopted~~under ~~FASB ASC 820-10-65 (formerly FSP FAS 157-4, "Determining Fair Value When~~ the ~~Volume~~Foreign ~~and~~Corrupt Practices ~~Level~~Act ~~of Activity for the Asset or Liability Have Significantly Decreased~~ and ~~Identifying~~Chinese ~~Transactions~~anti-corruption ~~That Are Not Orderly")~~laws, ~~which provides guidance on how to determine the fair value of assets~~ and ~~liabilities~~any ~~when~~determination the volume and level of activity for the asset or liability has significantly decreased when compared with normal market activity for the asset or liability as well as guidance on identifying circumstances that ~~indicate~~we aviolated ~~transaction~~these islaws ~~not~~could ~~orderly. The adoption of ASC 820-10-65 did not~~ have a material ~~impact~~adverse effect on ~~the~~our ~~Company’s Audited Financial Statements~~business.

~~Effective~~We ~~July~~are 1subject to the Foreign Corrupt Practice Act, or ~~2009~~FCPA, ~~the~~and ~~Company~~other ~~adopted~~laws ~~FASB~~that ~~ASC~~prohibit ~~855-10~~improper ~~(formerly~~payments ~~SFAS~~or ~~165~~offers of payments to foreign governments and their officials and political parties by U.S. persons and issuers as defined by the statute, ~~“Subsequent~~for ~~Events”)~~the purpose of obtaining or retaining business. We have operations, agreements ~~which~~with ~~establishes~~third ~~general~~parties ~~standards~~and we make many of ~~accounting~~our ~~for~~sales ~~and~~in ~~disclosure~~China. PRC also strictly prohibits bribery of ~~events~~government ~~that~~officials. Our ~~occur~~activities ~~after~~in China create the ~~balance~~risk ~~sheet~~of ~~date,~~unauthorized ~~but~~payments ~~before~~or ~~financial~~offers ~~statements~~of ~~are~~payments ~~issued~~by the employees, consultants, sales agents or ~~are~~distributors ~~available~~of our Company, even though they may not always be subject to our control. It is our policy to implement safeguards to discourage these practices by our employees. However, our existing safeguards and any future improvements may prove to be ~~issued~~less than effective, and the employees, consultants, sales agents or distributors of our Company may engage in conduct for which we might be held responsible. ~~Adoption~~Violations of ~~ASC~~the ~~855~~FCPA or Chinese anti-10corruption ~~did~~laws ~~not~~may ~~have~~result ain ~~material~~severe ~~impact~~criminal onor civil sanctions, and we may be subject to other liabilities, which could negatively affect our business, operating results and financial condition. In addition, the U.S. government may seek to hold our Company’s ~~Audited~~liable ~~Financial~~for ~~Statements~~successor liability FCPA violations committed by companies in which we invest or that we acquire.

FThe -outbreak 11of epidemics may have a material adverse effect on our business, financial condition and results of operations.

~~NOTE~~Certain 2areas -of ~~SUMMARY~~the OFPRC ~~SIGNIFICANT~~are ~~ACCOUNTING~~susceptible ~~POLICIES~~to ~~(CONTINUED)~~epidemics. An outbreak of any epidemics in the PRC, such as Severe Acute Respiratory Syndrome or avian flu, might result in material disruptions to the operations of the company or demand for its products, which in turn would adversely affect the Company’s results of operations and financial condition.

~~New~~RISKS ~~Accounting~~RELATED ~~Pronouncement~~TO toTHE beMARKET ~~Adopted~~FOR OUR STOCK GENERALLY

InOur common ~~December~~stock ~~2008,~~is ~~the~~quoted ~~FASB~~on ~~issued~~the ~~ASC~~inter-dealer ~~715,~~electronic ~~Compensation~~quotation –and ~~Retirement~~trading ~~Benefits~~system ~~(formerly~~maintained ~~FASB~~by ~~FSP~~OTC ~~FAS 132(R)-1~~Pink ®, ~~“Employers’ Disclosures about Postretirement Benefit Plan Assets”),~~ which ~~expands~~may ~~the disclosure requirements about plan assets for defined benefit pension plans and postretirement plans. It is expected the adoption of these disclosure requirements will~~ have noan ~~material~~unfavorable ~~effect~~impact on ~~the~~our ~~Company’s~~stock ~~Audited~~price and ~~Financial Statements~~liquidity.

InOur ~~August,~~common ~~2009,~~stock is quoted on the ~~FASB~~inter-dealer ~~issued~~electronic quotation ~~ASC~~and ~~Update~~trading ~~No.~~system ~~2009-05~~maintained ~~(“Update~~by ~~2009-05”)~~OTC toPink®, ~~provide~~which ~~guidance~~is ona ~~measuring~~significantly ~~the~~more ~~fair~~limited ~~value~~market ofthan ~~liabilities~~established ~~under~~trading markets ~~FASB~~such ~~ASC~~as ~~820~~the ~~(formerly~~New ~~SFAS~~York ~~157,~~Stock ~~"Fair~~Exchange ~~Value~~or ~~Measurements")~~NASDAQ. The ~~Company~~quotation isof ~~required~~our toshares ~~adopt~~on ~~Update~~the ~~2009-05~~Pink Sheets may result in ~~the~~a ~~first~~less ~~quarter~~liquid market available for existing and potential shareholders to trade shares of ~~2010. It~~our iscommon ~~expected~~stock, could depress the ~~adoption~~trading price of our ~~this~~common ~~Update~~stock ~~will~~and could have noa ~~material~~long-term ~~effect~~adverse impact on our ability to raise capital in the ~~Company’s~~future. ~~Financial~~We ~~Statements~~plan to list our common stock as soon as practicable. However, we cannot assure you that we will be able to meet the initial listing standards of any stock exchange, or that we will be able to maintain any such listing.

InWe ~~October~~may ~~2009,~~be ~~the~~subject ~~FASB~~to ~~concurrently~~penny ~~issued~~stock ~~the~~regulations ~~following~~and restrictions ~~ASC~~and ~~Updates:~~you may have difficulty selling shares of our common stock.

~~ASU~~The ~~No.~~SEC ~~2009-14~~has adopted regulations which generally define so-called “penny ~~Software~~stocks” ~~(Topic~~to ~~985):~~be ~~Certain~~an ~~Revenue~~equity ~~Arrangements~~security ~~That~~that ~~Include~~has ~~Software~~a ~~Elements~~market ~~(formerly~~price ~~EITF~~less ~~Issue~~than No$5.00 ~~09-3)~~per share or an exercise price of less than $5.00 ~~This~~per ~~standard~~share, ~~removes~~subject ~~tangible~~to ~~products~~certain ~~from~~exemptions. ~~the~~Our ~~scope~~common ofstock ~~software~~is ~~revenue~~a ~~recognition~~“penny ~~guidance~~stock” and ~~also~~is ~~provides~~subject ~~guidance~~to onRule 15g-9 ~~determining~~under ~~whether~~the ~~software~~Exchange ~~deliverables~~Act, inor anthe ~~arrangement~~Penny Stock Rule. This rule imposes additional sales practice requirements on broker-dealers that ~~includes~~sell such securities to persons other than established customers and “accredited investors” (generally, individuals with a ~~tangible~~net ~~product~~worth in excess of $1,000,000 ~~such~~or asannual ~~embedded~~incomes ~~software~~exceeding $200,000, ~~are~~or ~~within~~$300,000 together with their spouses). For transactions covered by Rule 15g-9, a broker-dealer must make a special suitability determination for the ~~scope~~purchaser and have received the purchaser's written consent to the transaction prior to sale. As a result, this rule may affect the ability of broker-dealers to sell our securities and may affect the ~~software~~ability ~~revenue~~of ~~guidance~~purchasers to sell any of our securities in the secondary market, thus possibly making it more difficult for us to raise additional capital.

ASU No. 2009-13 - Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements (formerly EITF Issue No. 08-1). This standard modifies the revenue recognition guidance for arrangements that involve the delivery of multiple elements, such as product, software, services or support, to a customer at different times as part of a single revenue generating transaction. This standard provides principles and application guidance to determine whether multiple deliverables exist, how the individual deliverables should be separated and how to allocate the revenue in the arrangement among those separate deliverables. The standard also expands the disclosure requirements for multiple deliverable revenue arrangements.25

FTable -of 12Contents

~~NOTE~~For 2any transaction involving a penny stock, unless exempt, the rules require delivery, prior to any transaction in penny stock, of a disclosure schedule required by the SEC relating to the penny stock market. Disclosure is also required to be made about sales commissions payable to both the broker-dealer ~~SUMMARY~~and the OFregistered ~~SIGNIFICANT~~representative ~~ACCOUNTING~~and ~~POLICIES~~current ~~(CONTINUED)~~quotations for the securities. Finally, monthly statements are required to be sent disclosing recent price information for the penny stock held in the account and information on the limited market in penny stock.

~~New~~There ~~Accounting~~can ~~Pronouncements~~be tono beassurance ~~Adopted~~that our common stock will qualify for exemption from the Penny Stock Rule. In any event, even if our common stock were exempt from the Penny Stock Rule, we would remain subject to Section 15(~~Continued~~b)(6) of the Exchange Act, which gives the SEC the authority to restrict any person from participating in a distribution of penny stock, if the SEC finds that such a restriction would be in the public interest.

~~These~~Provisions ~~Accounting~~in ~~Standards~~our ~~Updates~~Articles ~~should~~of beIncorporation ~~applied~~and Bylaws ~~on a prospective basis for revenue arrangements entered into~~ or ~~materially~~law ~~modified~~might indiscourage, ~~fiscal~~delay ~~years beginning on~~ or ~~after~~prevent ~~June 15, 2010, with earlier application permitted. Alternatively, an entity can elect to adopt these standards on~~ a ~~retrospective~~change ~~basis,~~of ~~but~~control ~~both~~of ~~these~~us ~~standards~~or ~~must~~changes ~~be adopted~~ in ~~the~~our ~~same~~management ~~period using the same transition method. The Company expects to apply this standard on a prospective basis for revenue arrangements entered into or materially modified beginning January 1~~and, ~~2011. It~~therefore ~~is expected~~ depress the ~~adoption~~trading price of ~~this Statement will have no material effect on~~ the ~~Company’s~~common ~~Financial Statements~~stock.

~~ASC~~corporate ~~Update~~law ~~(“ASU”)~~and ~~No. 2010-01,~~our ~~Equity~~Articles ~~(Topic 505): Accounting for Distributions to Shareholders with Components~~ of ~~Stock~~Incorporation and Bylaws ~~Cash.~~contain ~~This~~provisions ~~update clarify~~ that ~~the~~could ~~stock~~discourage, ~~portion~~delay ~~of a distribution to shareholders that allows them to elect to receive cash~~ or ~~stock~~prevent ~~with~~ a ~~potential~~change ~~limitation~~in oncontrol ~~the total amount~~ of ~~cash~~our ~~that~~Company ~~all~~or ~~shareholders~~changes ~~can elect to receive~~ in ~~the~~its ~~aggregate is considered a share issuance~~ management that isour ~~reflected~~stockholders inmay ~~earnings~~deem ~~per share prospectively and is not a stock dividend~~advantageous. ~~This~~These ASU codified the consensus reached in EITF Issue No. 09-E “Accounting for Stock Dividends, Including Distributions to Shareholders with Components of Stock and Cash”. ASU 2010-01 is effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The adoption of this update did not have any material impact on the Company’s financial statements.provisions:

~~ASC~~· ~~Updated~~deny ~~(“ASU”)~~holders ~~No. 2010-02, Consolidation (Topics 810) – Accounting and Reporting for Decreases in Ownership~~ of aour ~~Subsidiary~~common -stock Acumulative ~~Scope~~voting ~~Clarification This~~rights ~~updated provides guidance for non-controlling interests and changes~~ in ~~ownership interests of a subsidiary. An entity is required to deconsolidate a subsidiary when~~ the ~~entity~~election ~~ceases to have a controlling financial interest in the subsidiary. Upon deconsolidation~~ of ~~a subsidiary~~directors, anmeaning ~~entity~~that ~~recognizes~~stockholders aowning gain or loss on the transaction and measures any retained investment in the subsidiary at fair value. The gain or loss includes any gain or loss associated with the difference between the fair value of the retained investment in the subsidiary and its carrying amount at the date the subsidiary is deconsolidated. In contrast, an entity is required to account for a ~~decrease~~majority ~~in its ownership interest~~ of aour ~~subsidiary~~outstanding ~~that~~shares ~~does not result in a change~~ of ~~control~~common ofstock ~~the~~will ~~subsidiary~~be asable anto ~~equity~~elect ~~transaction. The~~all ~~adoption~~ of ~~this~~our ~~update did not have any material impact on the Company’s financial statements.~~directors;

F· -require 13any stockholder wishing to properly bring a matter before a meeting of stockholders to comply with specified procedural and advance notice requirements; and

~~NOTE~~· 2allow -any ~~SUMMARY~~vacancy OFon ~~SIGNIFICANT~~the ~~ACCOUNTING~~board ~~POLICIES~~of ~~(CONTINUED)~~directors, however the vacancy occurs, to be filled by the directors.

~~New~~ We ~~Accounting~~do ~~Pronouncements~~not intend to bepay ~~Adopted (Continued)~~dividends for the foreseeable future.

~~ASC~~Aurum ~~Update~~has ~~(“ASU”)~~never ~~No. 2010-13,~~paid ~~Compensation~~any –dividends ~~Stock~~to ~~Compensation~~its ~~(Topic~~shareholders. Prior ~~718):~~to ~~Effect~~our ofreverse ~~Denominating~~acquisition ~~the~~of ~~Exercise~~Greatmat, ~~Price~~Greatmat ofHong aKong ~~Share-Based~~declared ~~Payment~~and ~~Award~~paid inan ~~the~~interim ~~Currency~~dividend of ~~the~~$115,385 ~~Market~~to inits ~~Which~~shareholder at ~~the~~June ~~Underlying~~28, ~~Equity Security Trades~~2010. ~~This~~For ~~update is to codify~~ the ~~consensus~~foreseeable ~~reached~~future, inAurum ~~EITF~~intends ~~Issue~~to ~~No.~~retain ~~09-J,~~any ~~“Effect~~further ofearnings ~~Denominating~~to finance the ~~Exercise~~development ~~Price~~and expansion of aour ~~Share-Based~~business, ~~Payment~~and ~~Award~~we indo ~~the~~not ~~Currency~~anticipate ofpaying ~~the~~any ~~Market~~cash individends ~~Which~~on ~~the~~our ~~Underlying~~common ~~equity~~stock. ~~Security~~Accordingly, ~~Trades”~~investors ~~The~~must ~~amendments~~be prepared to ~~the~~rely ~~Codification~~on ~~clarify~~sales ~~that~~of antheir ~~employee~~common ~~share-based~~stock ~~payment~~after ~~award with an exercise~~ price ~~denominated~~appreciation into ~~the~~earn ~~currency~~an ofinvestment areturn, ~~market in~~ which amay ~~substantial~~never ~~portion~~occur. ofInvestors seeking ~~the~~cash ~~entity’s~~dividends ~~equity shares trades~~ should not bepurchase ~~considered~~our tocommon ~~contain~~stock. aAny ~~condition~~determination ~~that~~to ispay ~~not~~dividends ain ~~market,~~the ~~performance,~~future orwill ~~services~~be ~~condition.~~made ~~Therefore,~~at anthe discretion ~~entity~~of ~~would~~our ~~not~~board ~~classify~~of ~~such~~directors anand ~~award~~will asdepend aon ~~liability~~our ifresults itof ~~otherwise~~operations, ~~qualifies~~financial ascondition, ~~equity.~~contractual ~~The~~restrictions, restrictions ~~adoption~~imposed ofby ~~this~~applicable ~~update~~law ~~did~~and ~~not~~other ~~have~~factors ~~any~~our ~~material~~board ~~impact~~deems ~~on the Company’s financial statements~~relevant.

~~ASC~~Our ~~Update~~controlling ~~(“ASU”)~~stockholder ~~No. 2010-21,~~holds ~~Accounting~~a ~~for~~significant percentage ~~Technical~~of ~~Amendments~~our tooutstanding ~~Various~~voting ~~SEC~~securities, ~~Rules~~which ~~and~~could ~~Schedules.~~hinder ~~This~~our ~~update~~ability ~~amends~~to ~~various~~engage ~~SEC paragraphs~~ in ~~the~~significant ~~FASB~~corporate ~~Accounting~~transactions without ~~Standards~~his ~~Codification pursuant to SEC Final Rule, “Technical Amendments to Rules Forms, Schedules and Codification of Financial Reporting Policies”~~approval. ~~The adoption of this update did not have any material impact on the Company’s financial statements.~~

~~ASC~~Mr. ~~Update~~Chris ~~(“ASU”)~~Yun ~~No. 2010-22,~~Sang ~~Accounting~~SO ~~for~~is ~~Various~~the ~~Topics~~beneficial owner of approximately 71.80% ~~This~~of ~~update~~our ~~amends~~outstanding ~~various~~voting ~~SEC~~securities. ~~paragraphs~~As ina ~~the~~result, ~~FASB~~he ~~Accounting~~possesses ~~Standards~~significant ~~Codification~~influence, ~~based~~giving onhim ~~external~~the ~~comments~~ability, ~~received~~among ~~and~~other things, ~~the~~to ~~issuance~~elect ofa ~~Staff~~majority ~~Accounting~~of ~~Bulletin~~our ~~(SAB)~~board ~~No.~~of ~~112~~directors ~~which~~and ~~amends~~to authorize or ~~rescinds~~prevent ~~portion~~proposed ofsignificant ~~certain~~corporate ~~SAB topics~~transactions. His ~~SAB~~ownership ~~112~~and ~~was~~control ~~issued~~may toalso ~~being~~have ~~existing~~the ~~SEC~~effect ~~guidance~~of ~~into~~delaying ~~conformity~~or ~~with~~preventing ~~ASC~~a ~~805~~future ~~“Business~~change ~~Combination”~~in ~~and~~control, ~~ASC~~impeding ~~810~~a ~~“Consolidation”.~~merger, ~~The~~consolidation, takeover ~~adoption~~or ofother ~~this~~business ~~update~~combination ~~did~~or ~~not~~discourage ~~have~~a ~~any~~potential ~~material~~acquirer ~~impact~~from onmaking ~~the~~a ~~Company’s~~tender ~~financial statements~~offer.

~~Other~~If ~~accounting~~we ~~standards~~fail ~~that~~to ~~have~~maintain ~~been~~an ~~issued~~effective orsystem ~~proposed~~of byinternal controls, ~~the~~we ~~FASB~~may ~~or other standards-setting bodies that do~~ not ~~require~~be ~~adoption~~able ~~until a future date are not expected~~ to ~~have~~accurately areport ~~material~~our ~~impact~~financial onresults ~~the~~or ~~Company’s~~prevent ~~Financial Statements upon adoption~~fraud.

~~F - 14~~26

~~NOTE~~Table 3of ~~– COMMON STOCK~~Contents

We are subject to reporting obligations under the U.S. securities laws. The ~~Company~~Securities isand ~~authorized~~Exchange Commission (“SEC”), as required by Section 404 of the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley Act”), adopted rules requiring every public company to ~~issue~~include 50a management report on such company’s internal controls over financial reporting in its annual report,~~000,000~~ ~~shares~~which contains management’s assessment of $0the effectiveness of the company’s internal controls over financial reporting.~~001~~ ~~par~~Our ~~value~~management ~~common~~may ~~stock~~conclude that our internal controls over our financial reporting are not effective. ~~All~~Our ~~shares~~reporting ~~have~~obligations ~~equal~~as ~~voting~~a ~~rights~~public company will place a significant strain on our management, ~~are~~operational, ~~non-assessable~~and financial resources and ~~have~~systems ~~one~~for ~~vote~~the ~~per~~foreseeable ~~share~~future. ~~Voting~~Effective ~~rights~~internal controls, particularly those related to revenue recognition, are ~~not~~necessary ~~cumulative~~for us to produce reliable financial reports and, ~~therefore~~are important to help prevent fraud. As a result, our failure to achieve and maintain effective internal controls over financial reporting could result in the ~~holders~~loss of ~~more~~investor ~~than~~confidence ~~50%~~in the reliability of our financial statements, which in turn could harm our business and negatively impact the ~~common~~trading price of our stock. ~~could~~Furthermore, ifwe ~~they~~anticipate ~~choose~~that we will incur considerable costs and use significant management time and other resources in an effort to docomply ~~so,~~with ~~elect~~Section ~~all~~404 ofand ~~the~~other ~~directors~~requirements of the ~~Company~~Sarbanes-Oxley Act.

InWe ~~May,~~will ~~2007,~~incur ~~the~~increased ~~Company~~costs ~~issued~~as ~~5,000,000~~a ~~common~~result ~~shares at $0.001 for total cash proceeds~~ of ~~$5,000~~being a topublic ~~the president and director of the Company~~company.

As a public company, we will incur significant legal, accounting and other expenses that we did not incur as a private company. In ~~June~~addition, ~~2007~~the Sarbanes-Oxley Act, as well as new rules subsequently implemented by the ~~Company~~SEC, ~~issued~~have 2required changes in corporate governance practices of public companies. We expect these new rules and regulations to increase our legal,~~800~~ accounting and financial compliance costs and to make certain corporate activities more time-consuming and costly. In addition,~~000~~ ~~common~~we ~~shares~~will atincur $0additional costs associated with our public company reporting requirements.01 ~~for~~We ~~total~~are ~~cash~~currently ~~proceeds~~evaluating and monitoring developments with respect to these new rules, and we cannot predict or estimate the amount of ~~$28~~additional costs we may incur,~~000~~ or the timing of such costs.

InITEM ~~July, 2007, the Company issued 476,000 common shares at $0~~1B.05 ~~for~~UNRESOLVED ~~total~~STAFF ~~cash proceeds of $23,800~~COMMENTS.

InNot ~~July, 2007, the Company issued 84,000 common shares at $0~~applicable.~~05 for a subscription receivable of $4,200 which was received during the year.~~

InITEM ~~July, 2008, the Company issued 500,000 common shares at $0~~2.~~001~~ ~~to the former director of the Company for services rendered~~PROPERTIES.

~~NOTE~~The 4Company rent the current office located at Room 3202-03, 32/F, ~~INCOME~~148 ~~TAXES~~Electric Road, North Point, Hong Kong. The Company currently has no policy with respect to investments or interests in real estate, real estate mortgages or securities of, or interests in, persons primarily engaged in real estate activities.

~~Potential~~ITEM ~~benefits of income tax losses are not recognized in the accounts until realization is more likely than not~~3. ~~Pursuant~~LEGAL ~~to ASC 740-10 (formerly SFAS No~~PROCEEDINGS. 109), the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefit of net operating losses have not been recognized in these financial statements because the Company cannot be assured that it is more likely than not it will utilize the net operating losses carried forward in future years.

~~The~~Presently, ~~provision~~there ~~for~~are ~~income~~not ~~taxes~~any ~~differs~~material pending ~~from~~legal ~~the~~proceedings ~~result~~to which ~~would~~the beCompany ~~obtained~~is bya ~~applying~~party ~~the~~or ~~statutory~~as ~~income~~to ~~tax~~which ~~rate~~any of ~~34%~~its toproperty ~~income~~is ~~before~~subject, ~~income~~and ~~taxes.~~no ~~The~~such ~~difference~~proceedings are ~~results~~known ~~from~~to the ~~following~~Company ~~items:~~to be threatened or contemplated against it.

	July 31, 2010			July 31, 2009
Computed expected income taxes	$	8,324		$	14,635
Increase in valuation allowance		(8,324	)		(14,635	)
Income tax provision	$	-		$	-

ITEM 4. MINE SAFTELY DISCLOSURES.

~~Significant~~Not ~~components of the Company’s deferred income tax assets are as follows:~~applicable.

	July 31,			July 31,
	2010			2009
Net operating loss carry forward	$	180,400		$	155,900
Deferred income tax asset		61,336			53,006
Valuation allowance		(61,336	)		(53,006	)
Net deferred tax assets	$	-		$	-

FTable -of 15Contents

~~NOTE~~PART ~~4 - INCOME TAXES (CONTINUED)~~II

2027	$	34,000
2028		78,800
2029		43,100
2030		24,500
	$	180,400

Market Information

The Company’s ~~did~~common ~~not~~stock ~~have~~is ~~any~~currently quoted ~~interest~~on ~~and penalty recognized in~~ the ~~income~~inter-dealer ~~statements~~electronic ~~for~~quotation ~~the~~and ~~years~~trading ~~ended~~system ~~July~~maintained ~~31,~~by ~~2009~~OTC ~~and~~Pink ~~2010~~under orthe ~~balance~~symbol ~~sheet as~~ of ~~July 31, 2010 and 2009~~“GMATF”. The Company’s ~~did~~common ~~not~~stock ~~have~~has ~~uncertainty~~not ~~tax~~had ~~positions~~any ortrading ~~events~~since ~~leading~~its toquotation. ~~uncertainty~~Because ~~tax~~of ~~position~~such ~~within~~lack ~~the~~of ~~next~~trading 12history, ~~months.~~we ~~The~~cannot present ~~Company’s~~a ~~2006,~~high ~~2007~~ and ~~2008~~low ~~U.S.~~bid ~~Corporation Income Tax Returns are subject to U~~price.~~S. Internal Revenue Service examination.~~

~~NOTE 5 - RELATED PARTY TRANSACTIONS~~Holders

~~During~~As ~~the~~of ~~period~~December ~~ended July~~ 31, ~~2007~~2010, the ~~former~~approximate number ~~President~~of ~~purchased~~stockholders ~~5,000,000~~of ~~common~~record ~~shares~~of atthe ~~par~~Common ~~for~~Stock ~~total~~of ~~consideration~~the ofCompany ~~$5,000~~was 16.

~~During~~Dividend ~~the year ended July 31, 2008 the former President received 500,000 common shares at par in exchange for services rendered.~~Policy

The ~~former~~Company ~~director~~has ~~also~~never ~~provided~~declared ~~rent~~or ~~and~~paid any ~~administrative~~cash ~~services~~dividends ~~for~~on its common stock except the ~~period~~subsidiary ~~with~~Greatmat aTechnology ~~value~~(HK) ofLimited declared cash dividend $6115,~~456~~385 (~~2008~~HK$900,000) before the reverse take-over ~~$10~~on October 31,~~145)~~ ~~for~~2010. ~~which~~We ~~the~~currently ~~former~~intend ~~director~~to ~~will~~retain ~~receive~~future noearnings, ~~compensation.~~if ~~This~~any, ~~amount~~to ~~has~~finance ~~been~~the ~~expensed~~expansion of ~~and~~our ~~shown~~business. asAs ana ~~increase~~result, inwe ~~additional~~do ~~paid~~not anticipate paying any cash dividends in ~~capital~~the foreseeable future.

InEquity ~~July~~Compensation ~~2009,~~Plan the amount due to the former shareholder, who was also the Company’s former director, of $66,610 was waived by the former shareholder for repayment in connection with the change in control. Accordingly, the whole amount has been credited as an increase in additional paid in capital.Information

~~During~~We ~~the~~do ~~year~~not ~~ended~~have ~~July~~any ~~31,~~equity ~~2010,~~compensation plan ~~the~~as ~~sole~~of ~~director, Yau-sing Tang, advanced $24,017.02 to~~ the ~~Company. The~~date ~~amount~~of ~~due to~~ this ~~director is non-interest bearing and repayable on demand~~report.

FRecent -sales 16of unregistered securities

~~ITEM~~We 9.did ~~CHANGES~~not INissue ~~AND~~any ~~DISAGREEMENTS~~securities ~~WITH~~during the ~~ACCOUNTANTS~~year ONended ~~ACCOUNTING~~December ~~AND~~31, ~~FINANCIAL DISCLOSURE~~2010.

~~None~~ITEM 6. SELECTED FINANCIAL DATA

~~ITEM~~Not 9Aapplicable. ~~CONTROLS AND PROCEDURES. Evaluation of Disclosure Controls and Procedures~~

WeITEM maintain "disclosure controls and procedures," as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure7. InMANAGEMENT'S ~~designing~~DISCUSSION ~~and~~AND ~~evaluating~~ANALYSIS ~~our~~OF ~~disclosure~~FINANCIAL ~~controls~~CONDITION ~~and~~AND ~~procedures,~~RESULTS ~~management~~OF recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are metOPERATIONS. Additionally, in designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

AsThis ofsection ~~July~~includes ~~31,~~a ~~2010,~~number weof ~~carried~~forward-looking ~~out~~statements that anreflect ~~evaluation,~~our ~~under~~current ~~the~~views ~~supervision and~~ with ~~the~~respect ~~participation~~to offuture ~~the~~events ~~Chief Executive Officer~~ and ~~Chief~~financial ~~Financial~~performance. ~~Officer,~~Forward-looking ofstatements ~~the~~are ~~effectiveness~~often ofidentified by ~~the~~words ~~design~~like: ~~and~~believe, ~~operation~~expect, ofestimate, ~~our~~anticipate, ~~disclosure~~intend, ~~controls~~project and ~~procedures.~~similar ~~Based~~expressions, onor ~~this~~words ~~evaluation~~which, ~~the~~by ~~Chief~~their ~~Executive~~nature, refer ~~Officer~~to ~~and~~future ~~Chief~~events. ~~Financial~~You ~~Officer~~should ~~concluded~~not ~~that~~place ~~our~~undue ~~disclosure~~certainty ~~controls~~on ~~and~~these ~~procedures~~forward-looking ~~were effective in ensuring that information required to be disclosed by us in our periodic reports is recorded~~statements, ~~processed,~~which ~~summarized~~apply ~~and~~only ~~reported,~~as ~~within~~of the ~~time~~date of ~~periods~~this ~~specified for each~~ report. ~~and~~These ~~that~~forward-looking ~~such~~statements ~~information~~are issubject ~~accumulated and communicated~~ to ~~our~~certain ~~management,~~risks ~~including our principal executive~~ and ~~principal~~uncertainties ~~financial~~that ~~officers,~~could orcause ~~persons~~actual ~~performing~~results to ~~similar~~differ ~~functions,~~materially asfrom ~~appropriate~~historical toresults ~~allow~~or ~~timely~~our ~~decisions regarding required disclosure~~predictions.

~~Management’s~~Greatmat ~~Report~~Technology Corporation, formerly known as Aurum Explorations, Inc. (“Greatmat Technology”) was incorporated in the State of ~~Internal~~Nevada ~~Control~~on ~~over~~April ~~Financial~~27, ~~Reporting~~2007. The Company was originally formed for the purpose of acquiring exploration and development stage natural resources properties. On October 30, 2010, the Company completed an acquisition of Greatmat Holdings Limited (“Greatmat Holdings”), a BVI company, and its subsidiaries, pursuant to a Share Exchange Agreement among the Company, the sole shareholder of the Company, Greatmat Holdings, and the sole director of Greatmat Holdings (the “Share Exchange Agreement”). The acquisition was a reverse acquisition in accordance with ASC 805-40 “Reverse Acquisitions.” The legal parent is Aurum Explorations, Inc. (“Aurum”) which was the accounting acquiree while the Greatmat group of companies was the accounting acquirer. There was no non-controlling interest after the acquisition. This transaction was accounted for as a recapitalization effected by a share exchange, wherein Greatmat Holdings is considered the acquirer for accounting and financial reporting purposes. The assets and liabilities of the acquired entity have been brought forward at their book value and no goodwill has been recognized.

~~This~~Table ~~annual report does not include an attestation report~~ of the Company’s registered accounting firm regarding internal control over financial reporting. The Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Obama on July 21, 2010 allows small public companies to have a permanent exemption from the Sarbanes-Oxley Section 404(b) requirement to obtain an audit report of internal controls over financial reporting.Contents

~~Page - 32~~Overview

~~Changes~~Greatmat was established in ~~Internal~~May ~~Controls~~2004 and is a leading innovative building material company that provides customers with customized designs, manufacturing solutions and technical advice for building projects. In particular, Greatmat is a supplier of high-quality engineered stone floor and wall surfaces to commercial construction projects in China, Hong Kong and elsewhere in Asia. Our principal business consists of the design, research and development and production of engineered stone for installation in construction projects. Our company headquarters and main sales office is located in Hong Kong.

~~During~~Greatmat ~~the~~possesses ~~year~~a ~~ended~~strong ~~July~~research ~~31,~~and ~~2010,~~development team ~~there~~to ~~were~~help nodevelop ~~changes~~new insolutions ~~our~~and ~~internal~~innovative ~~control~~designs. ~~over~~We ~~financial~~are ~~reporting~~often ~~identified~~sought after by major property developers who want a unique material appearance for their flooring and exterior walls, typically in ~~connection~~exclusive ~~with~~shopping ~~the~~centers ~~evaluation~~around ~~required~~Asia. byThe ~~paragraph~~Company ~~(d)~~designs, produces, sells and services all of ~~Rule~~its ~~13a-15~~finished orproducts. ~~Rule~~Project ~~15d~~after project, the Company keeps coming up with unique finishing materials for ever-15demanding ~~that~~property ~~has~~developers ~~materially~~in ~~affected,~~Asia. orAfter isyears ~~reasonably~~in ~~likely~~the tobuilding ~~materially~~material ~~affect~~industry, ~~our~~Greatmat ~~internal~~has ~~control~~built ~~over~~a ~~financial~~reputation in ~~reporting~~the region for having one of the highest quality standards in the field.

~~ITEM~~In 9B2005, Greatmat was awarded a grant from the Hong Kong Innovative Technology Fund for creating a new environmentally-friendly solution which could be applied to the walls, flooring and exterior of commercial buildings. ~~OTHER~~ ~~INFORMATION~~In 2009, the Company was also awarded a Hong Kong Award for Environmental Excellence. Greatmat has successfully completed numerous signature projects in Hong Kong, Japan, Singapore and China for blue-chip clients such as Swire Properties, Sino Group, the Hong Kong Jockey Club, Sun Hung Kei Properties, Hang Lung Properties, and Shui On Properties, just to name a few. We maintain a website at http://www.greatmat.com, which is not incorporated into this Report.

~~None.~~Recent Developments

~~PART~~Acquisition ~~III~~of Greatmat Holdings

~~ITEM~~On 10October 30, 2010, we completed an acquisition of Greatmat Holdings pursuant to the Share Exchange Agreement. ~~DIRECTORS~~ The acquisition was a reverse acquisition in accordance with ASC 805-40 “Reverse Acquisitions”. The legal parent is Aurum Explorations, ~~EXECUTIVE~~Inc. ~~OFFICERS~~which ~~AND~~was ~~CORPORATE~~the ~~GOVERNANCE~~accounting acquiree while the Greatmat group of companies was the accounting acquirer. There was no non-controlling interest after the acquisition. This transaction was accounted for as a recapitalization effected by a share exchange, wherein Greatmat Holdings is considered the acquirer for accounting and financial reporting purposes. The assets and liabilities of the acquired entity have been brought forward at their book value and no goodwill has been recognized.

~~Officers~~As a result of the acquisition, our consolidated subsidiaries include Greatmat Holdings Limited, our wholly-owned subsidiary which is incorporated under the laws of the BVI, Greatmat Technology Limited, or Greatmat Limited, a wholly-owned subsidiary of Greatmat Holdings which is incorporated under the laws of Hong Kong, Greatmat Technology (HK) Limited, or Greatmat Hong Kong, a wholly-owned subsidiary of Greatmat Holdings which is incorporated under the laws of Hong Kong, and ~~Directors~~Greatmat Technology (China) Limited, or Greatmat China, a wholly-owned subsidiary of Greatmat Holdings which is incorporated under the laws of the BVI. Greatmat Limited, Greatmat Hong Kong and Greatmat China are sometimes collectively referred to herein as the “Operating Subsidiaries.”

~~Each~~Subsequent of our directors serves until his or her successor is elected and qualified. Each of our officers is elected by the board of directors to a term of one (1) year and serves until his or her successor is duly elected and qualified, or until he or she is removed from office. The board of directors has no nominating, auditing or compensation committees.development

~~The~~1. ~~name~~On September 21, ~~address~~2011, ~~age~~the ~~and~~Company ~~position~~was ofre-domiciled from ~~our~~State ~~present~~of ~~sole~~Nevada ~~officer~~to ~~and~~the ~~director~~Cayman ~~is set forth below:~~Islands.

Name and Address	Age	Position(s)
Yau-sing Tang	48	President, Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and Director

2. On December 30, 2011, the Company approved to dispose the three subsidiaries including Greatmat Technology Limited, Greatmat Technology (HK) Limited and Greatmat Technology (China) Limited by transferring 100% of the outstanding equity capital of these three companies being held by Greatmat Holdings Limited to Mr. Chris Yun Sang So in consideration of HK$1, HK$10,000 and US$1, respectively.

Mr3. ~~Tang~~On ~~has~~December ~~held~~30, ~~his~~2011, ~~offices~~Great ~~since~~Holdings ~~July~~Limited 16entered into a Damages Agreement with Yunfu City Yuncheng District Changyi Stone Factory (“YCYDCSF”) to bear all the damages of RMB 5,000,000 ~~2009~~per ~~and~~year ~~has~~to ~~served~~YCYDCSF according to Clause 2.10 of Exclusive Manufacturing Agreement dated June 30, 2004 filed as Exhibit 10.1, Form 8-K on November 3, 2010. Greatmat Holdings Limited also entered into a ~~director~~Supplementary ~~since~~Agreement ~~October~~on 4the Exclusive Manufacturing Agreement and the Extension of the Original Agreement with YCYDCSF to extend the expiration date of the Exclusive Manufacturing Agreement from June 30, 2009 to June 30, 2014.

~~Background of Officers and Directors~~29

~~Yau-sing~~Table ~~Tang, President, Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and sole member~~ of ~~the Board of Directors~~Contents

~~Yau-Sing~~4. ~~Tang~~On ~~has been the President, Chief Executive Officer, Chief Financial Officer, Treasurer, and Corporate Secretary of Aurum since~~ July ~~2009 and a director of Aurum since October 2009. Since October 2008~~30, ~~Mr. Tang has been the chief financial officer of China Agritech~~2012, ~~Inc. (CAGC), a company listed on~~ the ~~NASDAQ~~Company ~~Global~~approved ~~Market. Since~~Share ~~August~~Exchange Agreement ~~2010,~~between ~~Mr. Tang has served as a director of China North East Petroleum Holdings Limited (NEP), a company listed on~~ the ~~American~~Company ~~Stock~~and ~~Exchange. From March 2008 to September 2008,~~ Mr. ~~Tang~~Chris ~~was~~Yun ~~the~~Sang ~~director of AGCA CPA Limited, a CPA firm in Hong Kong~~So. ~~From~~ ~~August~~According ~~2006~~ to ~~March 2008, Mr. Tang was~~ the ~~financial~~Share ~~controller of Carpenter Tan Holdings Ltd., a company listed on the Main Board of The Stock~~ Exchange ~~of Hong Kong Limited. From January 2006 to July 2006~~Agreement, Mr. ~~Tang~~So ~~was~~transferred all the Company ~~founder~~common ~~and~~stock ~~managing~~held ~~director~~by ofhim ~~AGCA CPA Limited. From April 2003~~ to ~~December 2005, Mr. Tang was~~ the ~~executive~~Company director and chief financial officer of China Cable and Communication, Inc., a company quoted on the Pink Sheets. Mr. Tang received his Bachelor of Social Sciences (Honors) degree from the University of Hong Kong in ~~1986. Mr.~~consideration ~~Tang is a fellow~~ of ~~the~~100% ~~Association~~common ofstock ~~Chartered Certified Accountants in the United Kingdom and the Hong Kong Institute~~ of ~~Certified~~Greatmat ~~Public~~Holdings ~~Accountants. Mr.~~Limited, ~~Tang~~through isan oral ~~also a member of the Institute of Chartered Accountants in England and Wales and the Taxation Institute of Hong Kong~~agreement.

~~Page~~Principal -Factors 33Affecting Our Financial Performance

~~Involvement~~Our inoperating ~~Certain~~results ~~Legal~~are ~~Proceedings~~primarily affected by the following factors:

To· ~~our~~Growth ~~knowledge,~~in ~~during~~ the ~~past~~Chinese ~~ten~~Economy ~~years,~~and noDemand present director or executive officer of our company: (1) filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by a court for ~~the~~Construction ~~business~~Materials or– ~~property~~Our ofproducts ~~such~~are ~~person,~~produced ~~or any partnership~~ in ~~which~~China heand ~~was~~we aderive ~~general partner at or within two years before~~ the ~~time~~majority of ~~such~~our ~~filing,~~revenues orfrom ~~any~~sales ~~corporation~~to orprojects ~~business~~in ~~association~~China. ofEconomic ~~which~~conditions ~~he was an executive officer within two years before the time of such filing; (2) was convicted~~ in ~~a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) was the subject of any order~~China, ~~judgment or decree~~therefore, ~~not~~affect ~~subsequently~~virtually ~~reversed,~~all ~~suspended~~aspects ~~or vacated,~~ of ~~any~~our ~~court of competent jurisdiction~~operations, ~~permanently~~including ~~or temporarily enjoining him from or otherwise limiting~~ the ~~following~~demand ~~activities:~~for ~~(i)~~our ~~acting as a futures commission merchant~~products, ~~introducing~~the ~~broker,~~availability ~~commodity~~and ~~trading~~prices ~~advisor,~~of ~~commodity~~our ~~pool~~raw ~~operator,~~materials ~~floor~~and ~~broker,~~our ~~leverage transaction merchant, any~~ other ~~person~~expenses. ~~regulated~~China byhas ~~the~~experienced ~~Commodity~~significant ~~Futures~~economic ~~Trading Commission~~growth, orachieving ana ~~associated~~compound ~~person~~annual ofgrowth ~~any~~rate of ~~the~~over ~~foregoing,~~10% ~~or as an investment advisor, underwriter, broker or dealer~~ in ~~securities,~~gross ordomestic asproduct anfrom ~~affiliated~~1996 ~~person,~~through ~~director or employee of any investment company~~2008, ~~bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection~~ with ~~such~~an ~~activity;~~even ~~(ii)~~greater ~~engaging~~rate ~~in any type~~ of ~~business~~growth ~~practice; or (iii) engaging~~ in ~~any activity in connection with~~ the ~~purchase~~market or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodities laws; (4) was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or otherwise limiting for ~~more~~construction ~~than~~materials. 60China ~~days~~is ~~the~~expected ~~right of such person~~ to ~~engage~~experience incontinued ~~any activity described above under this Item~~growth, oreven ~~to be associated with persons engaged~~ in ~~any such activity; (5) was found by a court of competent jurisdiction in a civil action or by~~ the ~~Securities~~face and Exchange Commission to have violated any federal or state securities law and the judgment in such civil action or finding by the Securities and Exchange Commission has not been subsequently reversed, suspended or vacated; (6) was found by a court of ~~competent jurisdiction in~~ a ~~civil~~global ~~action~~economic orslowdown. ~~by the Commodity Futures Trading Commission to have violated any federal commodities law~~However, ~~and~~China ~~the judgment in such civil action or finding by the Commodity Futures Trading Commission~~ has not been ~~subsequently~~entirely ~~reversed,~~immune ~~suspended~~to ~~or vacated; (7) was~~ the ~~subject~~global ~~of,~~economic orslowdown a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of: (i) any Federal or State securities or commodities law or regulation; or (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and~~-desist~~ ~~order,~~has orexperienced ~~removal or prohibition order; or (iii) any law or regulation prohibiting mail or wire fraud in connection with any business entity; or (8) was the subject of, or~~ a ~~party~~slowing ~~to, any sanction or order, not subsequently reversed, suspended or vacated,~~ of any self-regulatory organization (as defined in Section 3(a)(26) of the Securities Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its ~~members~~growth ~~or persons associated with a member~~rate.

~~Audit~~· ~~Committee~~Large Scale Contractor Relationships. We have contracts with major construction contractors with respect to major commercial projects. Our sales efforts focus on large-scale projects and ~~Charter~~large customers which place large recurring orders. Our operating results will greatly depend on our ability to maintain and grow such relationships and contracts with these major contractors.

We· doExperienced ~~not have a separately-designated audit committee of the board~~Management. ~~Audit~~We ~~committee~~believe ~~functions~~that ~~are performed by~~ our ~~board~~management’s oftechnological ~~directors.~~knowledge ~~None of our directors are deemed independent. All directors also hold positions as our officers. Our audit committee is responsible for: (1) selection~~ and ~~oversight~~business ofrelationships ~~our~~gives ~~independent~~us ~~accountant; (2) establishing procedures for~~ the ~~receipt,~~ability ~~retention~~to ~~and~~secure ~~treatment~~major ~~of complaints regarding accounting~~orders, ~~internal~~which ~~controls~~should ~~and~~allow ~~auditing~~us ~~matters;~~to ~~(3)~~increase ~~establishing~~production ~~procedures~~volumes ~~for the confidential, anonymous submission by our employees of concerns regarding accounting~~ and ~~auditing matters; (4) engaging outside advisors; and, (5) funding for the outside auditory and any outside advisors engagement by the audit committee~~revenues.

~~Code~~· Continued Innovation. We continuously strive to produce the most technically advanced products for our customers and our operating results will greatly depend on our ability to remain at the forefront of ~~Ethics~~technical innovation in our industry.

We· ~~have~~Ability ~~adopted~~to aFinance ~~corporate~~our ~~code~~Future ~~of ethics~~Expansion. WeIn ~~believe~~order ~~our~~to ~~code~~grow ofat ~~ethics~~the ispace ~~reasonably~~expected ~~designed~~by tomanagement, ~~deter~~we ~~wrongdoing~~will ~~and~~require ~~promote~~additional ~~honest~~capital ~~and~~to ~~ethical~~support ~~conduct;~~our ~~provide~~long-term ~~full,~~growth ~~fair,~~strategies. ~~accurate,~~If ~~timely~~we ~~and~~are ~~understandable~~unable ~~disclosure~~to inobtain ~~public~~additional ~~reports;~~capital ~~comply~~in ~~with~~future ~~applicable~~years, ~~laws;~~we ~~ensure~~may ~~prompt~~be ~~internal~~unable ~~reporting~~to ofproceed ~~code~~with ~~violations;~~our plans and ~~provide~~we ~~accountability~~may ~~for~~be ~~adherence~~forced to ~~the~~curtail ~~code~~our operations.

~~Page~~· -Compensation 34Paid According to Exclusive Manufacturing Agreement. The annual damage compensation of RMB 5,000,000 for production level below 100,000 square meters processing business according to the Exclusive Manufacturing Agreement, Damage Agreement and Five Year Extension of the Exclusive Manufacturing Agreement will be a big financial burden to the Company and will be directly responsible by the Greatmat Holdings Limited.

~~Disclosure Committee and Charter~~Taxation

WeUnited have a disclosure committee and disclosure committee charter. Our disclosure committee is comprised of all of our officers and directors. The purpose of the committee is to provide assistance to the Chief Executive Officer and the Chief Financial Officer in fulfilling their responsibilities regarding the identification and disclosure of material information about us and the accuracyStates, ~~completeness~~Macau and ~~timeliness~~Hong ~~of our financial reports.~~Kong

~~Section~~We ~~16(~~are subject to United States federal income tax at a) ~~Beneficial~~tax ~~Ownership~~rate ~~Reporting~~ranging ~~Compliance~~from 15% to 35%. No provision for income taxes in the United States has been made as we have no taxable income derived from business effectively connected to the United States.

~~The~~Greatmat ~~Company~~Holdings isand ~~not~~Greatmat ~~aware~~Technology of(China) ~~any~~Limited are ~~failures~~incorporated in the British Virgin Islands. As offshore companies, they are exempt from income taxes according to ~~file~~the aArticle 242 ~~report~~of ~~required~~the byBVI ~~Section~~Business 16Companies Act 2004 (“Exemptions from Tax”), which states that (a) ofa ~~the~~company ~~Securities~~(b) ~~Exchange~~all ~~Act~~dividends, interest, rents, royalties, compensations and other amounts paid by company, and (c) capital gains realized with respect to any shares, debt obligations or other securities of a company, are exempt from all provisions of the ~~Company’s~~Income ~~common~~Tax ~~stock~~Ordinance. ~~during~~On the ~~period~~other hand, ~~covered~~Greatmat byTechnology ~~this~~(China) ~~annual~~Limited ~~report~~has operating business in Macau and is subject to Macau income tax at a rate of 12% of income earned from its operations in Macau.

~~ITEM 11. EXECUTIVE COMPENSATION.~~30

~~The~~Table ~~following table sets forth compensation paid by the Company to the executive officers~~ of ~~the Company for services rendered during the fiscal years ended July 31, 2010 and 2009.~~Contents

Name	Year	Total Compensation
Yau-sing Tang*	2010	None
	2009	None

Greatmat Technology Limited and Greatmat Technology (HK) Limited are incorporated in Hong Kong. In accordance with the relevant tax laws and regulations of Hong Kong, a company, irrespective of its residential status, is subject to tax on all profits (excluding profits arising from the sale of capital assets) arising in or derived from Hong Kong. No tax is levied on profits arising abroad, even if they are remitted to Hong Kong. The 2008/2009 and 2009/2010 income tax rate in Hong Kong is 16.5%.

* Mr.Results ~~Yau-sing Tang was appointed as President, Chief Executive Officer, Chief Financial Officer, Treasurer and Secretary on July 16, 2009 and was the sole executive officer~~ of ~~the Company during the fiscal year ended July 31, 2010.~~Operations

~~Employment~~Comparison ~~Agreements~~of Twelve Months Ended December 31, 2010 and December 31, 2009

WeThe ~~have~~following ~~not~~table sets forth key components of our results of operations during the twelve month periods ended December 31, 2010 and 2009, both in dollars and as a percentage of our net sales. As the reverse acquisition of Greatmat Limited and its subsidiaries was entered into ~~any~~after ~~employment~~December ~~agreements~~31, ~~with~~2009 and during the periods indicated Greatmat Limited and its three subsidiaries were the only entity in our ~~sole~~combined ~~officer~~business that had operations, the results of operations below reflect only that of Greatmat.

Compensation of Directors

	Twelve Months Ended					Twelve Months Ended
	December 31, 2010					December 31, 2009
			% of Net					% of Net
	Amount		Sales			Amount		Sales
Net revenues	$	8,021,268		100	%	$	5,660,186		100	%
Cost of sales		5,518,123		69	%		3,179,824		56	%
Gross profit		2,503,145		31	%		2,480,362		44	%
General and administrative expenses		1,646,908		21	%		1,608,091		28	%
Operating income		856,357		11	%		872,271		15	%
Other income		31,271-		0	%		—		0	%
Interest expenses		39,265		0	%		24,868		0	%
Income before income taxes		848,243		11	%		847,403		15	%
Income taxes		20,385		0	%		193,724		3	%
Net income	$	827,858		10	%	$	653,679		12	%

~~The~~Net ~~members of our board of directors are not compensated for their services as directors~~Sales. ~~The~~Our ~~board~~net ~~has~~sales ~~not~~increased ~~implemented a plan~~ to $8,021,268 ~~award~~in ~~options~~the totwelve ~~any~~months ~~directors.~~ended ~~There~~December ~~are~~31, no2010 ~~contractual~~from ~~arrangements~~$5,660,186 ~~with~~in ~~any member of~~ the ~~board~~same ofperiod ~~directors.~~in We2009, ~~have~~representing noa ~~director's~~42% ~~service contracts~~increase year-on-year. No ~~compensation~~This increase was ~~paid~~mainly due to ~~any~~the ~~Company~~additional ~~director~~operation ~~during~~of ~~the~~Greatmat ~~year~~China ~~ended~~from ~~July~~2009 ~~31, 2010~~onwards.

~~Pension~~Cost ~~Benefits~~of ~~and~~Sales. ~~Compensation~~Our ~~Plans~~cost of sales increased to $5,518,123 in the twelve months ended December 31, 2010 from $3,179,824 in the same period in 2009. The cost of goods sold per sales ratio increased from 56% to 69% from 2009 to 2010, mainly due to cost went up in a short period of time such as raw material, labor cost, etc.

WeGross doProfit ~~not~~and ~~have~~Gross ~~any~~Margin. ~~pension~~Our gross ~~benefits~~profit orincreased ~~compensation~~to ~~plans~~$2,503,145 in the twelve months ended December 31, 2010 from $2,480,362 in the same period in 2009. Gross profit as a percentage of net revenue was 31% and 44% for the twelve months ended December 31, 2010 and 2009, respectively. The large decrease in gross margins from 2009 to 2010 was primarily due to the reduction of sales.

~~Potential~~General ~~Payments~~and ~~upon~~Administrative ~~Termination~~Expenses. orOur general ~~Change-~~and administration expenses grew to $1,646,908 in~~-Control~~ the twelve months ended December 31, 2010 from $1,608,091in the same period in 2009. This increase was mainly due to our rapid growth as these costs are proportional to sales.

SEC regulations state that we must disclose information regarding agreements, plans or arrangements that provide for payments or benefits to our executive officers in connection with any termination of employment or change in control of the company. We currently have no employment agreements with any of our executive officers, nor any compensatory plans or arrangements resulting from the resignation, retirement or any other termination of any of our executive officers, from a change-in control, or from a change in any executive officer's responsibilities following a change-in-control.31

~~Page~~Table -of 35Contents

~~Stock~~Other ~~Option~~Income. Other income increased to $31,271 in the twelve months ended December 31, 2010 from $0 in the same period in 2009.

~~There~~Interest ~~are~~Expenses. noInterest ~~stock~~expenses ~~option~~increased to $39,265 ~~retirement~~in the twelve months ended December 31, ~~pension~~2010 from $24,868 orin ~~profit~~the ~~sharing~~same ~~plans~~period ~~for~~in ~~the~~2009. ~~benefit~~This ofincrease ~~our~~was ~~officers~~mainly ~~and~~due ~~directors~~to an increase in our bank borrowings.

~~Long-Term~~Income ~~Incentive~~Before ~~Plan~~Income ~~Awards~~Taxes. Our income before income taxes increased to $848,243 in the twelve months ended December 31, 2010 from $847,403 in the same period in 2009. This increase was mainly due to the increase of net revenues.

WeIncome doTaxes. ~~not~~The ~~have~~Greatmat ~~any~~operating ~~long-term~~companies were ~~incentive~~currently ~~plan~~operating in Hong Kong SAR and Macau SAR. The current corporate income tax rate for Hong Kong SAR was 16.5% while Macau SAR’s corporate income tax rate was 12%. Income taxes increased as a result of increased income.

~~ITEM~~Liquidity ~~12.~~and ~~SECURITY~~Capital ~~OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.~~Resources

~~The~~As ~~following table sets forth information regarding beneficial ownership~~ of ~~our~~Decemer ~~common stock as of October 1~~31, 2010, ~~(i)~~we byhad ~~each~~cash ~~person~~and ~~who~~cash ~~is known by us to beneficially own more than 5%~~ equivalents of ~~our~~$963,498, ~~common~~primarily ~~stock;~~consisting ~~(ii) by each~~ of ~~our~~cash ~~officers~~on ~~and~~hand ~~directors;~~ and ~~(iii)~~demand ~~by all of our officers and directors as a group~~deposits. ~~Unless~~ ~~otherwise~~The ~~specified,~~following ~~the~~table ~~address~~provides ofdetailed ~~each~~information ofabout our ~~the~~net ~~persons~~cash ~~set~~flow ~~forth~~for ~~below~~all isfinancial instatement ~~care~~periods ofpresented ~~the Company, Suite 903 Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong. Except as indicated~~ in ~~the footnotes to~~ this ~~table~~report. ~~and~~To ~~subject to applicable community property laws~~date, ~~the~~we ~~persons~~have ~~named~~financed inour ~~the~~operations ~~table~~primarily through tocash ~~our~~flows ~~knowledge~~from ~~have~~operations ~~sole voting~~ and ~~investment~~equity ~~power~~contributions ~~with respect to all shares of securities shown as beneficially owned~~ by ~~them.~~our ~~The information in this table is as of October 1, 2010 based upon 8,860,000 shares of common stock outstanding~~shareholders.

Name and Address of Beneficial Owner	Office, If Any	Amount and Nature of Beneficial Ownership	Percent Common Stock
Yau-sing Tang	President, Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and Director	5,500,000(1)	62.1%
All officers and directors as a group (one person named above)		5,500,000	62.1%
Wellkey Holdings Limited		5,500,000(1)	62.1%

The following table sets forth a summary of our cash flows for the periods indicated:

~~(1)The~~Cash ~~shares are indirectly owned by Yau-sing Tang through his 100% owned company called Wellkey Holdings Limited, a company incorporated under the laws of the British Virgin Islands.~~Flow

~~ITEM~~(Amounts ~~13.~~in ~~CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE~~U.S. dollars)

(a) Transactions with Related Persons

	Twelve Months Ended December 31,
	2010			2009
Net cash provided by (used in) operating activities	$	994,863		$	2,051,777	)
Net cash provided by (used in) investing activities		0	)		(1,988,888	)
Net cash provided by (used in) financing activities		(178,599	)		23,620
Net (Decrease) Increase in Cash and Cash Equivalents		816,264			86,509	)

Cash and Cash Equivalent at Beginning of the Period		147,234			60,725
Cash and Cash Equivalent at End of the Period		963,498			147,234

~~Since~~Operating the beginning of the Company’s fiscal year ended July 31, 2009, no related person has had any direct or indirect material interest in any transaction or currently proposed transaction, which the company was or is to be a participant, that exceeded the lesser of (1) $120,000 or (2) one percent of the average of the Company’s total assets at year-end for the last two completed fiscal years, except for the following:activities

InNet ~~July~~cash ~~2009,~~used ~~Patrick~~in ~~Mohammed~~operating activities was $994,863 for the ~~Company's~~twelve ~~director~~months ~~and~~ended ~~former~~December ~~sole~~31, ~~officer~~2010, ~~and~~as ~~majority~~compared ~~shareholder~~to $2,051,777 ~~waived~~provided aby ~~debt~~operating ~~owed~~activities for the same period in 2009. The change is attributable to ~~him~~the by$827,858 increase in net income for the ~~Company~~current period, the decrease of $661,~~610~~329,302 in ~~connection~~accounts receivables, ~~with~~increases aof ~~change~~$11,309 in ~~control~~prepaid expenses; increases of ~~the~~$2,364,338 ~~Company~~in accounts payable, increases of $15,971 in accrued expenses and decrease of $47,827 in income tax payable, and was offset by increases of $24,483 in amount due to a director.

~~During~~Investing the year ended July 31, 2010, Yau-sing Tang, our sole officer and director, advanced funds to the Company totaling $24,017 as at July 31, 2010. As of October 1, 2010, the amount due to Mr. Tang totaled $33,269. The amount due to Mr. Tang is non-interest bearing and repayable on demand.activities

~~Page~~Net -cash 36used in investing activities for the twelve months ended December 31, 2010 was $0 as compared to $86,509 during the same period of 2009. The change is attributable to our having no investing activities in the first half of 2010.

~~(b) Promoters~~Financing ~~and control persons~~activities

~~During~~Net ~~the~~cash ~~past~~provided ~~five~~by ~~fiscal~~financing ~~years,~~activities ~~Patrick~~for ~~Mohammed,~~the ~~and~~twelve months ~~Yau-sing~~ended ~~Tang~~December ~~have~~31, ~~been~~2010 ~~promoters~~was ~~of the Company’s business~~$(178,599), ~~but~~as ~~none~~compared ofto ~~these~~net ~~promoters~~cash ~~have~~provided ~~received~~by ~~anything~~financing activities of ~~value~~$23,620 ~~from~~in the ~~Company~~same period ~~nor~~of is2009. ~~any~~The ~~person~~change ~~entitled~~is attributable to ~~receive~~the ~~anything~~net ofdecrease ~~value~~in ~~from~~bank ~~the~~borrowings ~~Company~~of ~~for~~$64,496 ~~services~~and ~~provided~~paid asout adividends ~~promoter~~ of $115,385 during the ~~business~~twelve ofmonths ~~the~~ended ~~Company~~December 31, 2010.

~~(c) Director independence~~32

~~The~~Table ~~Company’s board~~ of directors currently consists solely of Yau-sing Tang. Pursuant to Item 407(a) (1) (ii) of Regulation S-K of the Securities Act, the Company’s board of directors has adopted the definition of “independent director” as set forth in Rule 4200(a) (15) of the NASDAQ Manual. In summary, an “independent director” means a person other than an executive officer or employee of the Company or any other individual having a relationship which, in the opinion of the Company’s board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director, and includes any director who accepted any compensation from the Company in excess of $200,000 during any period of 12 consecutive months with the three past fiscal years. Also, the ownership of the Company’s stock will not preclude a director from being independent.Contents

InWe ~~applying~~believe ~~this~~that ~~definition~~our cash on hand and cash flow from operations will meet our present cash needs unless we expand our current scale of production to another level in a short period of time, in which case we may require additional cash resources to fund our additional capital expenditures and working capital requirements related to such growth. We may, however, in the ~~Company’s~~future, ~~board~~require additional cash resources due to changed business conditions, implementation of ~~directors~~our ~~has~~strategy ~~determined~~to ~~that~~ramp Mrup our production facilities and increase machinery and equipment, or acquisitions we may decide to pursue. ~~Yau-sing~~If ~~Tang~~our ~~does~~own ~~not~~financial ~~qualify~~resources asare aninsufficient ~~“independent~~to ~~director”~~satisfy ~~pursuant~~our capital requirements, we may seek to ~~Rule~~sell additional ~~4200(a)~~equity ~~(15)~~or debt securities or obtain additional credit facilities. The sale of ~~the~~additional ~~NASDAQ~~equity ~~Manual~~securities could result in dilution to our stockholders. The incurrence of indebtedness would result in increased debt service obligations and could require us to agree to operating and financial covenants that would restrict our operations. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional funds on terms favorable to us, or at all, could limit our ability to expand our business operations and could harm our overall business prospects.

AsBank ofLoans the date of the report, the Company did not maintain a separately designated compensation or nominating committee. The Company has also adopted this definition for the independence of the members of its audit committee. Yau-sing Tang serves on the Company’s audit committee. The Company’s board of directors has determined that Mr. Yau-sing Tang is not “independent” for purposes of Rule 4200(a)(15) of the NASDAQ Manual, applicable to audit, compensation and nominating committee members, and is not “independent” for purposes of Section 10A(m)(3) of the Securities Exchange Act.

~~ITEM~~As 14of December 31, 2010, the Company had two bank loans outstanding totaling $596,056 in outstanding principal amount. ~~PRINCIPAL~~ ~~ACCOUNTING~~Of ~~FEES~~such ~~AND~~principal ~~SERVICES~~amount, $69,820 was repayable within one year from December 31, 2010 and $526,236 was repayable in more than one year.

~~Aggregate~~The ~~fees~~Company’s ~~for~~first ~~professional~~bank ~~services~~loan ~~rendered~~is with China Construction Bank (Asia) Corporation Limited, which is comprised of a term loan with an original principal amount of $469,231 and a principal balance of $372,343 as of December 31, 2010 and a renewable trade line of credit facility with a maximum principal amount of $198,718 and which had a principal balance of $185,944 outstanding as of December 31, 2010 is consolidated to a new bank loan with similar amount. The rate of interest for the ~~Company~~term byloan ~~Albert~~is ~~Wong~~2.75% &per ~~Company~~annum asminus ~~our~~the bank’s prime rate, and principal ~~independent~~must ~~registered~~be ~~public~~repaid in ~~accounting~~240 ~~firm~~equal monthly installments over the term of the loan ending in September 2028. The trade line of credit is available to the Company for commercial letters of credit and related short-term commitments. The rate of interest for this trade line of credit facility is 0.75% per annum above the higher of: (1) the bank’s prime rate; or (2) 0.5% per annum plus the one-month Hong Kong Interbank Offered Rate. The term loan and trade line of credit are ~~set~~guaranteed ~~forth~~by, ~~below~~and secured by a charge on certain property of, Chris Yun Sang SO.

~~Fees~~The Company’s second bank loan is a term loan from Wing Hang Bank Limited with an original principal amount of $269,231 and a principal balance of $223,713 as of December 31, 2010. The rate of interest for this bank loan is 0.50% per annum below the ~~fiscal~~bank’s ~~years~~prime ~~ended~~lending ~~July~~rate, 31and principal must be repaid in 59 equal monthly installments of $5,126 ~~2009~~over the term of the loan ending in February 2015. The loan is guaranteed by, and ~~2010~~secured by a charge on certain property of, Chris Yun Sang SO and is guaranteed under a Special Loan Guarantee Scheme of the Hong Kong Special Administrative Region.

Audit Fees. Albert Wong & Company was paid aggregate fees of approximately $4,000 and $4,000, respectively, for the audit of our annual financial statements for the fiscal years ended July 31, 2009 and 2010 and review of our quarterly financial statements during such years. Inflation

~~Audit-Related~~Inflation ~~Fees~~and changing prices have not had a material effect on our business and we do not expect that inflation or changing prices will materially affect our business in the foreseeable future. ~~None~~ However, our management closely monitors any price changes in our industry and continually strives to maintain effective cost controls in our operations. The Chinese government is currently trying to curb the rate of inflation. However, it is quite possible that prices for our products may increase faster than our expenses, resulting in a net benefit to our earnings from the impact of inflation.

~~Tax~~Significant ~~Fees. Albert~~Accounting ~~Wong & Company was paid aggregate fees of approximately $600 per year.~~Policies

~~All~~The ~~Other~~preparation ~~Fees~~of financial statements in conformity with accounting principles generally accepted in the United States requires our management to make assumptions, estimates and judgments that affect the amounts reported, including the notes thereto, and related disclosures of commitments and contingencies, if any. We ~~There~~have ~~were~~identified nocertain ~~fees~~accounting ~~billed~~policies bythat ~~Albert~~are ~~Wong~~significant &to ~~Company~~the preparation of our financial statements. These accounting policies are important for ~~other~~an ~~products~~understanding of our financial condition and ~~services~~results ~~for~~of operation. Critical accounting policies are those that are most important to the ~~fiscal~~portrayal ~~years~~of ~~ended~~our ~~July~~financial 31conditions and results of operations and require management’s difficult, ~~2009~~subjective, or complex judgment, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and ~~2010~~may change in subsequent periods. Certain accounting estimates are particularly sensitive because of their significance to financial statements and because of the possibility that future events affecting the estimate may differ significantly from management’s current judgments. We believe the following critical accounting policies involve the most significant estimates and judgments used in the preparation of our financial statements:

~~Page - 37~~33

~~Audit~~Table ~~Committee’s~~of ~~Pre-Approval Process~~Contents

~~The~~Business ~~Board of Directors acts as the audit committee of the Company, and accordingly, all services are approved by all the members of the Board of Directors.~~Combination

~~ITEM~~The 15Company records mergers and acquisitions in according to ASC 805 “Business Combinations”. ~~EXHIBITS~~Under ~~AND~~the ~~FINANCIAL~~acquisition ~~STATEMENT~~method ~~SCHEDULES~~of accounting, the legal entity, acquiring entity, acquirer and acquiree are properly identified. The acquisition date is determined. The identifiable assets acquired, the liabilities assumed and the noncontrolling interest are identified. The goodwill or a gain from a bargain purchase is recognized.

IIn the reverse acquisition, the acquiring entity was the entity with a controlling financial interest which was the acquirer; the legal entity issued the equity securities was determined to be the acquired entity, which was the acquiree. ~~Listing~~ ofAccording ~~Documents~~to ASC 805, the Company is the legal entity issuing the equity securities and it is the accounting acquiree, The Greatmat group is the acquiring entity with a controlling financial interest and is the accounting acquirer.

~~(1)~~Revenue ~~Financial Statements.~~Recognition

~~Report~~The Company recognizes revenue when the significant risks and rewards of ~~Independent~~ownership ~~Registered~~have ~~Public~~been ~~Accounting~~transferred ~~Firms~~to the customer pursuant to PRC law, Macau law and Hong Kong law, including factors such as when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, sales and value-added tax laws have been complied with and collectability is probable.

~~Balance~~Earnings ~~Sheets~~per ~~– As of July 31, 2010 and 2009~~Share

~~Statements~~The ofCompany ~~Operations~~reports earnings per share in accordance with ASC 260-10 (formerly SFAS No. 128 – ~~For~~“Earnings per Share”). Basic earnings per share are computed using the weighted ~~Period~~average ~~from~~number ~~April~~of ~~27,~~common ~~2007~~stock ~~(Inception)~~outstanding toduring ~~July~~the year/period. Diluted earnings per share are computed using the weighted average number of common and potentially dilutive common stock outstanding during the year/period. At December 31, 2010 and 2009, the Company had no common stock equivalents that were anti-dilutive and excluded from the earnings per share computation.

~~Statements~~Foreign ofCurrency ~~Stockholders’~~Translation ~~Deficit~~and –Other ~~For the Period from April 27, 2007 (Inception) to July 31, 2010~~Comprehensive Income

~~Statements~~The Company has adopted ASC 830-10 (formerly SFAS No. 52, “Foreign Currency Translation”). Monetary assets and liabilities denominated in foreign currencies are translated into United States dollars at rates of ~~Cash~~exchange ~~Flows~~in –effect ~~For~~at the ~~Years~~balance ~~Ended~~sheet ~~July~~date. 31Gains or losses are included in income statement for the year/period. Non-monetary assets, ~~2010~~liabilities and ~~2009~~items ~~and~~recorded ~~For~~in ~~the~~income ~~Period~~arising from ~~April~~transactions 27denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. As the Company's functional currency is the U.S. dollar, ~~2007~~and ~~(Inception)~~all totranslation ~~July~~gains 31and losses are transactional, ~~2010~~and the Company has no assets with values recorded in foreign currency, there is no recognition of other comprehensive income in the financial statements.

~~Notes~~Use toof ~~the~~Estimates ~~Audited~~and ~~Financial Statements~~Assumptions

~~(3)~~ The ~~following~~preparation ~~Exhibits~~of ~~are~~financial ~~filed~~statements asin ~~part~~conformity with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of ~~this~~assets ~~report~~and onliabilities ~~Form~~and ~~10-K:~~disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Exhibit	Description
3.1*	Articles of Incorporation of Aurum Explorations, Inc.
3.2	Bylaws of Aurum Explorations, Inc., filed as an Exhibit to Aurum’s Form SB-2 (Registration Statement) on October 29, 2007, and incorporated herein by reference.
10.1	Share Purchase Agreement dated July 16, 2009 between Wellkey Holdings Limited and Patrick Mohammed, filed as an Exhibit to Aurum’s Form 8-K (Current Report) on August 12, 2009, and incorporated herein by reference.
14	Code of Ethics, filed as an Exhibit to Aurum’s Form 10-K on November 16, 2009, and incorporated herein by reference.
31*	Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32*	Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
99.1	Audit Committee Charter, filed as an Exhibit to Aurum’s Form 10-K on November 16, 2009, and incorporated herein by reference.
99.2	Disclosure Committee Charter, filed as an Exhibit to Aurum’s Form 10-K on November 16, 2009, and incorporated herein by reference.

Income taxes

~~____________________~~The Company utilizes ASC 740-10 (formerly SFAS No. 109, "Accounting for Income Taxes,") which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized.

*Filed herewith.34

~~Page~~Table -of 38Contents

~~SIGNATURES~~The Company accounts for income taxes using an asset and liability approach which allows for the recognition and measurement of deferred tax assets based upon the likelihood of realization of tax benefits in future years. Under the asset and liability approach, deferred taxes are provided for the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.

~~Pursuant~~The toCompany ~~the~~records ~~requirements~~a valuation allowance for deferred tax assets, if any, based on its estimates of ~~Section~~its 13future taxable income as well as its tax planning strategies when it is more likely than not that a portion or ~~15(d)~~all of its deferred tax assets will not be realized. If the ~~Securities~~Company ~~Exchange~~is ~~Act~~able to utilize more of its ~~1934,~~deferred tax assets than the ~~registrant~~net ~~has~~amount ~~duly~~previously ~~caused~~recorded ~~this~~when ~~report~~unanticipated events occur, an adjustment to bedeferred ~~signed~~tax assets onwould ~~its~~increase ~~behalf~~the byCompany’s net income. The Company does not have any significant deferred tax assets or liabilities in the ~~undersigned,~~United ~~thereunto~~States ~~duly~~of ~~authorized~~America.

	AURUM EXPLORATIONS, INC.
Date: October 6, 2010	By:	/s/ Yau-sing Tang
		Yau-sing Tang President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and Director

The Company adopted the provisions of ASC 740-10 (formerly FIN 48, “Accounting for Uncertainty in Income Taxes”) and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. ASC 740-10 also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition.

~~Pursuant~~Based toon ~~the~~our ~~requirements~~evaluation, ofwe ~~the~~have ~~Securities~~concluded ~~Exchange~~that ~~Act~~there are ofno ~~1934,~~significant ~~this~~uncertain ~~report~~tax ~~has~~positions ~~been~~requiring ~~signed~~recognition ~~below~~in our financial statements. We may from time to time be assessed interest or penalties by major tax jurisdictions. In the ~~following~~event ~~persons~~we onreceive ~~behalf~~an ofassessment ~~the~~for ~~registrant~~interest and/or inpenalties, ~~the~~it ~~capacities~~will be ~~and~~classified onin the ~~dates~~financial ~~indicated~~statements as tax expense.

Date: October 6, 2010	By:	/s/ Yau-sing Tang
		Yau-sing Tang President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and Director

Fair values of financial instruments

~~Page~~ASC 825-10 39(formerly SFAS No. 107, "Disclosures about Fair Value of Financial Instruments,") requires that the Company disclose estimated fair values of financial instruments. The Company's financial instruments primarily consist of cash, accrued liabilities and amount due to a director.

As of the balance sheet dates, the estimated fair values of the financial instruments were not materially different from their carrying values as presented on the balance sheet. This is attributed to the short maturities of the instruments and to the interest rates on the borrowings approximating those that would have been available for loans of similar remaining maturity and risk profile at respective balance sheet dates.

Recent Accounting Pronouncements

In June 2009, the FASB established the FASB Accounting Standards Codification TM (ASC) as the single source of authoritative U.S generally accepted accounting principles (GAAP) recognized by the FASB to be applied to nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. The ASC superseded all previously existing non-SEC accounting and reporting standards, and any prior sources of U.S. GAAP not included in the ASC or grandfathered are not authoritative. New accounting standards issued subsequent to June 30, 2009 are communicated by the FASB through Accounting Standards Updates (ASUs). The ASC did no change current U.S. GAAP but changes the approach by referencing authoritative literature by topic (each a “Topic”) rather than by type of standard. The ASC has been effective for the Company effective July 1, 2009. Adoption of the ASC did not have a material impact on the Company’s Audited Financial Statements, but references in the Company’s Notes to Audited Financial Statements to former FASB positions, statements, interpretations, opinions, bulletins or other pronouncements are now presented as references to the corresponding Topic in the ASC.

During 2008, the Company adopted FASB ASC 820-10 (formerly FSP FAS 157-2, "Effective Date of FASB Statement 157"), which deferred the provisions of previously issued fair value guidance for non-financial assets and liabilities to the first fiscal period beginning after November 15, 2008. Deferred nonfinancial assets and liabilities include items such as goodwill and other non-amortizable intangibles. Effective January 1, 2009, the Company adopted the fair value guidance for nonfinancial assets and liabilities. The adoption of FASB ASC 820-10 did not have a material impact on the Company’s Audited Financial Statements.

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Effective January 1, 2009, the Company adopted FASB ASC 810-10-65 (formerly SFAS 160, "Non-controlling Interests in Consolidated Financial Statements — an amendment of ARB No. 51"), which amends previously issued guidance to establish accounting and reporting standards for the non-controlling interest in a subsidiary and for the deconsolidation of a subsidiary. It clarifies that a non-controlling interest in a subsidiary, which is sometimes referred to as minority interest, is an ownership interest in the consolidated entity that should be reported as equity. Among other requirements, this Statement requires that the consolidated net income attributable to the parent and the non-controlling interest be clearly identified and presented on the face of the consolidated income statement. The adoption of the provisions in this ASC did not have a material impact on the Company’s Audited Financial Statements.

Effective January 1, 2009, the Company adopted FASB ASC 805-10, (formerly SFAS 141R, "Business Combinations"), which establishes principles and requirements for how an acquirer recognizes and measures in its financial statements the identifiable assets acquired, the liabilities assumed, any non-controlling interest in an acquiree and the goodwill acquired. The Company will apply ASC 805-10 to any business combinations subsequent to adoption.

Effective January 1, 2009, the Company adopted FASB ASC 805-20 (formerly FSP FAS 141R-1, "Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies"), which amends ASC 805-10 to require that an acquirer recognize at fair value, at the acquisition date, an asset acquired or a liability assumed in a business combination that arises from a contingency if the acquisition-date fair value of that asset or liability can be determined during the measurement period. If the acquisition-date fair value of such an asset acquired or liability assumed cannot be determined, the acquirer should apply the provisions of ASC Topic 450, Contingences, to determine whether the contingency should be recognized at the acquisition date or after such date. The adoption of ASC 805-20 did not have a material impact on the Company’s Audited Financial Statements.

Effective July 1, 2009, the Company adopted FASB ASC 825-10-65 (formerly FASB Staff Position (“FSP”) No. FAS 107-1 and Accounting Principles Board 28-1, "Interim Disclosures about Fair Value of Financial Instruments"), which amends previous guidance to require disclosures about fair value of financial instruments for interim reporting periods of publicly traded companies as well as in annual financial statements. The adoption of FASB ASC 825-10-65 did not have a material impact on the Company’s Audited Financial Statements.

Effective July 1, 2009, the Company adopted FASB ASC 320-10-65 (formerly FSP FAS 115-2 and FAS 124-2, "Recognition and Presentation of Other-Than-Temporary Impairments"). Under ASC 320-10-65, an other-than-temporary impairment must be recognized if the Company has the intent to sell the debt security or the Company is more likely than not will be required to sell the debt security before its anticipated recovery. In addition, ASC 320-10-65 requires impairments related to credit loss, which is the difference between the present value of the cash flows expected to be collected and the amortized cost basis for each security, to be recognized in earnings while impairments related to all other factors to be recognized in other comprehensive income. The adoption of ASC 320-10-65 did not have a material impact on the Company’s Audited Financial Statements.

Effective July 1, 2009, the Company adopted FASB ASC 820-10-65 (formerly FSP FAS 157-4, "Determining Fair Value When the Volume and Level of Activity for the Asset or Liability Have Significantly Decreased and Identifying Transactions That Are Not Orderly"), which provides guidance on how to determine the fair value of assets and liabilities when the volume and level of activity for the asset or liability has significantly decreased when compared with normal market activity for the asset or liability as well as guidance on identifying circumstances that indicate a transaction is not orderly. The adoption of ASC 820-10-65 did not have a material impact on the Company’s Audited Financial Statements.

Effective July 1, 2009, the Company adopted FASB ASC 855-10 (formerly SFAS 165, “Subsequent Events”), which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date, but before financial statements are issued or are available to be issued. Adoption of ASC 855-10 did not have a material impact on the Company’s Audited Financial Statements.

In August, 2009, the FASB issued ASC Update No. 2009-05 (“Update 2009-05”) to provide guidance on measuring the fair value of liabilities under FASB ASC 820 (formerly SFAS 157, "Fair Value Measurements"). The Company adopted Update 2009-05 in the first quarter of 2010. It is expected the adoption of this Update will have no material effect on the Company’s Financial Statements.

In October 2009, the FASB concurrently issued the following ASC Updates:

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ASU No. 2009-14 - Software (Topic 985): Certain Revenue Arrangements That Include Software Elements (formerly EITF Issue No. 09-3). This standard removes tangible products from the scope of software revenue recognition guidance and also provides guidance on determining whether software deliverables in an arrangement that includes a tangible product, such as embedded software, are within the scope of the software revenue guidance.

These Accounting Standards Updates should be applied on a prospective basis for revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010, with earlier application permitted. Alternatively, an entity can elect to adopt these standards on a retrospective basis, but both these standards must be adopted in the same period using the same transition method. The Company expects to apply this standard on a prospective basis for revenue arrangements entered into or materially modified beginning January 1, 2011. It is expected the adoption of this Statement will have no material effect on the Company’s Financial Statements.

ASC Update (“ASU”) No. 2010-01, Equity (Topic 505): Accounting for Distributions to Shareholders with Components of Stock and Cash. This update clarifies that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in earnings per share prospectively and is not a stock dividend. This ASU codified the consensus reached in EITF Issue No. 09-E “Accounting for Stock Dividends, Including Distributions to Shareholders with Components of Stock and Cash”. ASU 2010-01 is effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The adoption of this update did not have any material impact on the Company’s financial statements.

ASC Updated (“ASU”) No. 2010-02, Consolidation (Topics 810) – Accounting and Reporting for Decreases in Ownership of a Subsidiary - A Scope Clarification. This update provides guidance for non-controlling interests and changes in ownership interests of a subsidiary. An entity is required to deconsolidate a subsidiary when the entity ceases to have a controlling financial interest in the subsidiary. Upon deconsolidation of a subsidiary, an entity recognizes a gain or loss on the transaction and measures any retained investment in the subsidiary at fair value. The gain or loss includes any gain or loss associated with the difference between the fair value of the retained investment in the subsidiary and its carrying amount at the date the subsidiary is deconsolidated. In contrast, an entity is required to account for a decrease in its ownership interest of a subsidiary that does not result in a change of control of the subsidiary as an equity transaction. The adoption of this update did not have any material impact on the Company’s financial statements.

ASC Update (“ASU”) No. 2010-13, Compensation – Stock Compensation (Topic 718): Effect of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in Which the Underlying Equity Security Trades. This update is to codify the consensus reached in EITF Issue No. 09-J, “Effect of Denominating the Exercise Price of a Share-Based Payment Award in the Currency of the Market in Which the Underlying Equity Security Trades.” The amendments to the Codification clarify that an employee share-based payment award with an exercise price denominated in the currency of a market in which a substantial portion of the entity’s equity shares trades should not be considered to contain a condition that is not a market, performance, or services condition. Therefore, an entity would not classify such an award as a liability if it otherwise qualifies as equity. The adoption of this update did not have any material impact on the Company’s financial statements.

ASC Update (“ASU”) No. 2010-21, Accounting for Technical Amendments to Various SEC Rules and Schedules. This update amends various SEC paragraphs in the FASB Accounting Standards Codification pursuant to SEC Final Rule, “Technical Amendments to Rules Forms, Schedules and Codification of Financial Reporting Policies”. The adoption of this update did not have any material impact on the Company’s financial statements.

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ASC Update (“ASU”) No. 2010-22, Accounting for Various Topics. This update amends various SEC paragraphs in the FASB Accounting Standards Codification based on external comments received and the issuance of Staff Accounting Bulletin (SAB) No. 112 which amends or rescinds portion of certain SAB topics. SAB 112 was issued to bring existing SEC guidance into conformity with ASC 805 “Business Combination” and ASC 810 “Consolidation”. The adoption of this update did not have any material impact on the Company’s financial statements.

Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date are not expected to have a material impact on the Company’s financial statements upon adoption.

Off-Balance Sheet Arrangements

The Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

INDEX TO THE AUDITED FINANCIAL STATEMENTS


INDEPENDENT AUDITOR’S REPORT		F-1

CONSOLIDATED BALANCE SHEETS		F-2 - F-3

CONSOLIDATED STATEMENTS OF INCOME		F-4

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY		F-5

CONSOLIDATED STATEMENTS OF CASH FLOWS		F-6

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS		F-7 - F-20

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ALBERT WONG & CO.

CERTIFIED PUBLIC ACCOUNTANTS

7th Floor, Nan Dao Commercial Building

359-361 Queen’s Road Central

Hong Kong

Tel : 2851 7954

Fax: 2545 4086

ALBERT WONG

B.Soc., Sc., ACA., LL.B., CPA (Practising)

The board of directors and shareholders of

Greatmat Technology Corporation and Subsidiaries

Independent Auditor’s Report

We have audited the accompanying consolidated balance sheets of Greatmat Technology Corporation (formerly known as Aurum Explorations, Inc.) and subsidiaries as of December 31, 2010 and 2009 and the related consolidated statements of income, stockholders' equity and cash flows for the years then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audit in accordance with standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the consolidated financial position of Greatmat Technology Corporation and Subsidiaries as of December 31, 2010 and 2009 and the results of its operations, changes in its stockholders’ equity, and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming the Company will continue as a going concern. As discussed in Note 2, has limited cash resources, has negative working capital and its viability is dependent upon its ability to meet its future financing requirements and the success of future operations. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans regarding those matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Hong Kong, China	Albert Wong & Co
January 10, 2013	Certified Public Accountants

F-1

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GREATMAT TECHNOLOGY CORPORATION

(FORMERLY KNOWN AS AURUM EXPLORATIONS, INC.)

CONSOLIDATED BALANCE SHEETS

AS AT DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

	Note		2010		2009
					Restated
ASSETS
Current assets
Cash and cash equivalents			$	963,498	$	147,234
Account receivables				3,258,072		1,928,770
Deposits, prepayments and other receivables		3		17,757		18,331
Receivables from related parties		5		1,201,871		—

Total current assets			$	5,441,198	$	2,094,335
Property, plant and equipment, net		4		1,176,126		1,595,992

TOTAL ASSETS			$	6,617,324	$	3,690,327
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities

Accounts payable and accrued charges		6		2,875,167		496,510
Amount due to a director		8		—		828,269
Other payable				1,651		—
Secured bank loan-current portion		7		69,820		115,044
Income tax payable				156,631		193,724

Total current liabilities			$	3,103,269	$	1,633,547
Provision of compensation				4,740,738		4,033,914
Secured bank loan-non-current portion		7		526,236		545,507

TOTAL LIABILITIES			$	8,370,243	$	6,212,968

Commitments and contingencies		11	$	—	$	—

See accompanying notes to consolidated financial statements

F-2

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GREATMAT TECHNOLOGY CORPORATION

(FORMERLY KNOWN AS AURUM EXPLORATIONS, INC.)

CONSOLIDATED BALANCE SHEETS (Continued)

AS AT DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

	2010			2009
				Restated
STOCKHOLDERS’ DEFICIT
Common stock $0.001 par value, 100,000,000 and 50,000,000 authorized in 2010 and 2009, 9,749,523 and 36,560,700 shares issued and outstanding at December 31, 2010 and 2009		9,750			36,561
Paid in capital		170,641			(36,560	)
Foreign exchange reserve		(348,412	)		(381,178	)
Accumulated deficit		(1,584,898	)		(2,141,464	)
	$	(1,752,919	)	$	(2,522,641	)

TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	6,617,324		$	3,690,327

See accompanying notes to consolidated financial statements

F-3

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GREATMAT TECHNOLOGY CORPORATION

(FORMERLY KNOWN AS AURUM EXPLORATIONS, INC.)

CONSOLIDATED STATEMENTS OF INCOME

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

	Note		2010			2009
						Restated
Net revenues			$	8,021,268		$	5,660,186
Cost of sales				(5,518,123	)		(3,179,824	)

Gross profit			$	2,503,145		$	2,480,362
Operating expenses:
General and administrative				(1,646,908	)		(1,608,091	)

Operating income			$	856,357		$	872,271
Other income				31,271			—
Interest expenses				(39,265	)		(24,868	)

Income before income taxes			$	848,243		$	847,403
Income taxes		10		(20,385	)		(193,724	)
Net income			$	827,858		$	653,679
Dividend paid				115,385			—

Net income after dividends			$	712,473		$	653,679

Foreign exchange difference				32,766			(478	)

Comprehensive income			$	745,239		$	653,201

Earnings per share:
-Basic and diluted		9	$	0.11			0.09

Weighted average number of common stock
-Basic and diluted		9		7,726,161			7,312,140

See accompanying notes to consolidated financial statements

F-4

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GREATMAT TECHNOLOGY CORPORATION

(FORMERLY KNOWN AS AURUM EXPLORATIONS, INC.)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ DEFICIT

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

	Common stock
										Foreign exchange reserve			Accumulated deficit	Total
	No. of Shares			Amount			Paid in Capital			Restated			Restated	Restated

Balance as of January 1, 2009		1			1			—			(380,700	)	(2,795,143)		(3,175,842	)

Restated – accounting acquirer common shares outstanding		36,560,699			36,560			(36,560	)						—
Net income		—			—								653,679		653,679

Foreign exchange difference											(478	)			(478	)

Balance, December 31, 2009		36,560,700			36,561			(36,560	)		(381,178	)	(2,141,464)		(2,522,641	)

Net income													827,858		827,858

Foreign exchange difference											32,766				32,766

Dividend - before reverse merger													(115,385)		(115,385	)

Effect of reverse merger		12,186,900			12,187			168,203					(155,907)		24,483
Effect of 1 for 5 reverse spilt		(38,998,077	)		(38,998	)		38,998

Balance, December 31, 2010		9,749,523			9,750			170,641			(348,412	)	(1,584,898)		(1,752,919	)

See accompanying notes to consolidated financial statements

F-5

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GREATMAT TECHNOLOGY CORPORATION

(FORMERLY KNOWN AS AURUM EXPLORATIONS, INC.)

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

	2010			2009
				Restated
Cash flows from operating activities
Net income	$	848,243		$	653,679
Depreciation		419,866			421,134
Provision of compensation		739,590			733,009
Accounts receivables		(1,329,302	)		(1,208,482	)
Amount due from a director		(1,713, 866)			(944,147	)
Advances to suppliers		—			113,462
Bill receivables		—			—
Deposits and prepaid expenses		11,309			(11,411	)
Receivables from related parties		(317,656	)		59,481
Accounts payables		2,364,338			432,631
Bill payables		—			(175,432	)
Accruals		15,971			47,595
Income taxes payable		(68,114	)		170,682
Amount due to a director		24,484			1,759,576

Net cash provided /used by operating activities	$	994,863		$	2,051,777

Cash flows from investing activities
Purchase of property, plant and equipment	$	—		$	(1,988,888	)
Sales proceeds of property, plant and equipment		—			—

Net cash used in investing activities	$	—		$	(1,988,888	)

Cash flows from financing activities
Proceeds from stock issuance		1,282			1
Bank borrowings		50,547			128,205
Bank repayments		(115,043	)		(104,586	)
Dividend paid		(115,385	)		—
Finance lease		—			—

Net cash (used)/provided by financing activities	$	(178,599	)	$	23,620

Net cash and cash equivalents sourced	$	816,264		$	86,509

		2010			2009

Net cash and cash equivalents sourced	$	816,264		$	86,509

Cash and cash equivalents–beginning of year		147,234			60,725

Cash and cash equivalents–end of year	$	963,498		$	147,234

SUPPLEMENTARY CASH FLOW INFORMATION
Income tax paid	$	68,114		$	37,093
Interest paid	$	39,265		$	24,868

See accompanying notes to consolidated financial statements

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

1. ORGANIZATION AND PRINCIPAL ACTIVITIES

Greatmat Technology Corporation (formerly Aurum Explorations, Inc. or Aurum) (“the Company”) was incorporated in the State of Nevada on April 27, 2007. The Company was formed for the purpose of acquiring exploration. On October 30 2010, the Company changed the name from Aurum Explorations, Inc. to Greatmat Technology Corporation. On September 21, 2011, the Company was re-domiciled from State of Nevada to the Cayman Islands.

On October 30, 2010, pursuant to the terms of the Share Exchange Agreement between Aurum and the shareholder of Greatmat Holdings Limited (“GHL”) who invested in Aurum by transferring 100% of GHL common shares to Aurum. Aurum issued 36,560,700 shares of its common stock to the GHL original’s shareholder in exchange of such stock.

The transaction was accounted for as a “reverse merger,” since the original stockholders of the GHL own a majority of the outstanding shares of Aurum common stock immediately following the completion of the transaction. GHL was the legal acquiree but deemed to be the accounting acquirer, Aurum was the legal acquirer but deemed to be the accounting acquiree in the reverse merger. The historical financial statements prior to the acquisition are those of the accounting acquirer (GHL). Historical stockholders' equity of the acquirer prior to the merger are retroactively restated (a recapitalization) for the equivalent number of shares received in the merger. Operations prior to the merger are those of the acquirer. After completion of the transaction, the Company’s consolidated financial statements include the assets and liabilities of the Company and its subsidiaries, the operations and cash flow of the Company and its subsidiaries

GHL was incorporated on July 15, 2010 in the British Virgin Islands. The principal activity of GHL is investment holding. Details of the GHL’s subsidiaries (which together with the Company are collectively referred to as the “Group”) and their principal activities as of December 31, 2010 and 2009 are stated at Note 2(b).

Inherent in the Company’s business are various risks and uncertainties, including a limited history of operations. The Company’s success will depend on the acceptance of the Company’s products and services and its ability to generate related revenue.

On December 30, 2011, the Company approved to dispose the three subsidiaries including Greatmat Technology Limited, Greatmat Technology (HK) Limited and Greatmat Technology (China) Limited by transferring 100% of the common stock of these three companies being hold by Greatmat Holdings Limited to Mr, Chris Yun Sang So in the consideration of HK$1, HK$10,000 and US$1, which being the 100% issued share capital of these companies.

On December 30, 2011, Great Holdings Limited agreed with Yunfu City Yuncheng District Changyi Stone Factory (“YCYDCSF”) to bear all the damages on Clause 2.10 of RMB 5,000,000 yearly compensation to YCYDCSF under the 5 years Exclusive Manufacturing Agreement on June 30, 2004 filed as Exhibit 10.1, Form 8-K on November 3, 2010 by a Damages Agreement on December 30, 2011. Greatmat Holdings Limited also agreed with YCYDCSF to extend this Exclusive Manufacturing Agreement in a Supplementary Agreement on the Exclusive Manufacturing Agreement and the Extension of the Original Agreement from June 30, 2009 to June 30, 2014 for another 5 years.

On July 30, 2012, the Company approved Share Exchange Agreement between the Company and Mr. Chris Yun Sang So to transfer all the Company common stock on his hand to the Company in consideration of 100% common stock of GHL.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a)

Basis of presentation

The Group maintains its general ledger and journals with the accrual method of accounting for financial reporting purposes. The financial statements and notes are representations of management. Accounting policies adopted by the Group conform to generally

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

accepted accounting principles in the United States of America (“US GAAP”) and have been consistently applied in the presentation of these financial statements.

These financial statements have been prepared on a going concern basis. The Company has profits from operation but suffered from accumulated deficit of $1,584,898 and capital deficiency of $1,752,918 as of December 31, 2010. The Company also anticipates further loss in the development of its business which raises substantial doubt about the Company’s ability to continue as a going concern. Its ability to continue as a going concern is dependent upon the ability of the Company to have a profitable operation, be acquired in the future and/or to obtain the necessary financing to meet its production level obligations and repay its damage liabilities arising from the current low production level. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence.

Management has taken the following steps to revise its operating and financial requirements, which it believes are sufficient to provide the Company with the ability to continue as a going concern. The Company is actively pursuing additional funding which would enhance capital employed and strategic partners which would increase production level or reduce production costs. Management believes that the above actions will allow the Company to continue its operations.

(b)

Principles of consolidation

The consolidated financial statements include the accounts of Greatmat Technology Corporation (the Company) and its four subsidiaries, constituting the group. The consolidated financial statements are presented in US Dollars. All significant inter-company transactions have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with US GAAP.

Subsidiaries

The Company consolidates its four wholly owned subsidiaries, Greatmat Holdings Limited, Greatmat Technology (China) Limited, Greatmat Technology (HK) Limited, and Greatmat Technology Limited, because it controls those entities through its 100% voting interest in them. The following sets forth information about the wholly owned subsidiaries:

*Name of Subsidiary*	*Place & date of* *Incorporation*	*Equity Interest* *Attributable to* *the Company* *(%)*		*Issued Capital*

Greatmat Holdings Limited	BVI/ July 15, 2010		100	US$	1
Greatmat Technology (China) Limited	BVI/ December 8, 2008		100	US$	1
Greatmat Technology (HK) Limited	HK/May 19, 2004		100	HK$	10,000
Greatmat Technology Limited	HK/September 27, 2010		100	HK$	1

(c)

Use of estimates

The financial statements are prepared in conformity with US GAAP and require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

statements and the reported amounts of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however, actual results could differ materially from those estimates.

(d)

Economic and political risks

The Group’s operations are conducted in the PRC and Hong Kong and Macau. Accordingly, the Group’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC and Hong Kong and Macau, and by the general state of the PRC and Hong Kong and Macau economy.

The Group’s operations in the PRC, Hong Kong and Macau are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Group’s results may be adversely affected by changes in the political and social conditions in the PRC, Hong Kong SAR, and Macau SAR and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation, among other things.

(e)

Property, plant and equipment

Property, plant and equipment are carried at cost less accumulated depreciation. Depreciation is provided over their estimated useful lives, using the straight-line method. Estimated useful lives of the plant and equipment are as follows:

Motor vehicle	3 years
Furniture and office equipment	5 years
Leasehold improvement	5 years
Plant and machinery	5 years

The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statement of income. The cost of maintenance and repairs is charged to income as incurred, whereas significant renewals and betterments are capitalized.

(f)

Accounting for the impairment of long-lived assets

The Group periodically evaluates the carrying value of long-lived assets to be held and used, including intangible assets subject to amortization, when events and circumstances warrant such a review, pursuant to the guidelines established in FASB ASC 360. The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is separately identifiable and is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair market value of the long-lived asset. Fair market value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair market values are reduced for the cost to dispose.

During the reporting periods, there was no impairment loss.

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

(g)

Trade receivables

Trade receivables are recognized and carried at the original invoice amount less allowance for any uncollectible amounts. An allowance for doubtful accounts is maintained for all customers based on a variety of factors, including the length of time the receivables are past due, significant one-time events and historical experience. Bad debts are written off as incurred. During the reporting years, there were no bad debts.

(h)

Foreign currency translation

The accompanying financial statements are presented in United States dollars. The functional currency of the Group members is the HK$ for the Hong Kong incorporated companies Greatmat Technology (HK) Limited and Greatmat Technology Limited, and the US$ for the BVI incorporated company Greatmat Holdings Limited and Greatmat Technology (China) Limited.

The Hong Kong Monetary Authority has pegged the Hong Kong dollar to the United States dollar at a rate of 7.8 with fluctuation from 7.75 to 7.85. This pegging system has resulted in the HKD and USD exchange rate remaining in a relatively stable range in the current moment. The risk of exchange from HKD to USD is so low that the discrepancy is small and immaterial. So it is reasonable that 1:7.8 is adopted to translate into United States dollars from Hong Kong dollars for all the financial statements.

(i)

Cash and cash equivalents

The Group considers all highly liquid investments purchased with original maturities of twelve months or less to be cash equivalents. The Group maintains bank accounts in Hong Kong. The Group does not maintain any bank accounts in the United States of America. The cash located outside the United States is not restricted as to usage.

(j)

Revenue recognition

The Company recognizes revenue when the significant risks and rewards of ownership have been transferred to the customer pursuant to PRC law, Macau law and Hong Kong law, including factors such as when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, sales and value-added tax laws have been complied with and collectability is probable.

(k)

Leases

The Group did not have leases which met the criteria of a capital lease. Leases which do not qualify as capital leases are classified as operating leases. Operating lease rental payment included in administrative expenses for the years ended December 31, 2010 and 2009 were $25,580 and $25, 371, respectively.

(l)

Advertising

The Group expensed all advertising costs as incurred. Advertising expenses included in the administrative and other operating expenses for the years ended December 31, 2010 and 2009 were nil and $6,635, respectively.

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

(m)

Income taxes

The Company uses the accrual method of accounting to determine and report its taxable income and tax credits in the year in which they are available. Income tax liabilities are computed according to the Hong Kong SAR tax laws and Macau SAR tax laws which are provided for the tax effects of transactions reported in the financial statements and consist of taxes currently due. The deferred taxes are not provided.

The Company did not have any interest and penalties recognized in the income statements for the periods ended December 31, 2010 and 2009 or balance sheet as of December 31, 2010 and 2009. The Company did not have uncertainty tax positions or events leading to uncertainty tax position within the next 12 months. The Company’s 2004/05, 2005/06, 2006/07, 2007/08, 2008/09, 2009/10 Hong Kong Income Tax filings are subject to Hong Kong Inland Revenue Department examination. The Company’s 2009/10 Macau Income Tax filling is subject to Macau Financial Services Bureau examination.

(n)

Retirement benefit plans

The employees of the Group are members of the Mandatory Provident Fund Schemes operated by the government of the Hong Kong SAR. The Group is required to contribute a specified percentage of payroll costs to the retirement benefit scheme to fund the benefits. The only funding obligation of the Group with respect to the retirement benefit plan is to make the specified contributions.

Retirement benefits in the form of contributions under defined contribution retirement plans to the relevant authorities are charged to the statements of income as incurred. The retirement benefit funding included in the administrative expenses for the years ended December 31, 2010 and 2009 were $5,897 and $6,635, respectively.

(o)

Cash and concentration of risk

Cash includes cash on hand and demand deposits in accounts maintained within Hong Kong. Total cash in these banks at December 31, 2010 and 2009 amounted to $963,498 and $147,234 respectively, of which no deposits are covered by the United States Federal Deposit Insurance Corporation. The Group has not experienced any losses in such accounts and believes it is not exposed to any risk on its cash in bank accounts.

(p)

Recent accounting pronouncements

ASC 105, Generally Accepted Accounting Principles (“ASC 105”) (formerly Statement of Financial Accounting Standards No. 168, The FASB Accounting Standards Codification and the Hierarchy of Generally Accepted Accounting Principles a replacement of FASB Statement No. 162) reorganized by topic existing accounting and reporting guidance issued by the Financial Accounting Standards Board (“FASB”) into a single source of authoritative generally accepted accounting principles (“GAAP”) to be applied by nongovernmental entities. All guidance contained in the Accounting Standards Codification (“ASC”) carries an equal level of authority. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. Accordingly, all other accounting literature will be deemed “non-authoritative”. ASC 105 is effective on a prospective basis for financial statements issued for interim and annual periods ending after September 15, 2009. The implementation of this guidance changed the Company’s references to GAAP authoritative guidance but did not impact the Company’s financial position or results of operations.

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

(p)

Recent accounting pronouncements (Continued)

ASC 805, Business Combinations (“ASC 805”) (formerly included under Statement of Financial Accounting Standards No. 141 (revised 2007), Business Combinations) contains guidance that was issued by the FASB in December 2007. It requires the acquiring entity in a business combination to recognize all assets acquired and liabilities assumed in a transaction at the acquisition-date fair value, with certain exceptions.

Additionally, the guidance requires changes to the accounting treatment of acquisition related items, including, among other items, transaction costs, contingent consideration, restructuring costs, indemnification assets and tax benefits. ASC 805 also provides for a substantial number of new disclosure requirements. ASC 805 also contains guidance that was formerly issued as FSP FAS 141(R)-1, Accounting for Assets Acquired and Liabilities Assumed in a Business Combination That Arise from Contingencies which was intended to provide additional guidance clarifying application issues regarding initial recognition and measurement, subsequent measurement and accounting, and disclosure of assets and liabilities arising from contingencies in a business combination. ASC 805 was effective for business combinations initiated on or after the first annual reporting period beginning after December 15, 2008. Implementing this guidance did not have an effect on the Company’s financial position or results of operations; however it will likely have an impact on the Company’s accounting for future business combinations, but the effect is dependent upon acquisitions, if any, that are made in the future.

ASC 855, Subsequent Events (“ASC 855”) (formerly Statement of Financial Accounting Standards No. 165, Subsequent Events) includes guidance that was issued by the FASB in May 2009, and is consistent with current auditing standards in defining a subsequent event. Additionally, the guidance provides for disclosure regarding the existence and timing of a company’s evaluation of its subsequent events. ASC 855 defines two types of subsequent events, “recognized” and “non-recognized”. Recognized subsequent events provide additional evidence about conditions that existed at the date of the balance sheet and are required to be reflected in the financial statements. Non-recognized subsequent events provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date and, therefore; are not required to be reflected in the financial statements. However, certain non-recognized subsequent events may require disclosure to prevent the financial statements from being misleading. This guidance was effective prospectively for interim or annual financial periods ending after June 15, 2009. The effect of implementing this guidance was not material to the Company’s financial position or results of operations.

In August 2009, the FASB issued ASC Update No. 2009-05, Fair Value Measurements and Disclosures (Topic 820): Measuring Liabilities at Fair Value (“ASC Update No. 2009-05”). This update amends ASC 820, Fair Value Measurements and Disclosures and provides further guidance on measuring the fair value of a liability. The guidance establishes the types of valuation techniques to be used to value a liability when a quoted market price in an active market for the identical liability is not available, such as the use of an identical or similar liability when traded as an asset. The guidance also further clarifies that a quoted price in an active market for the identical liability at the measurement date and the quoted price for the identical liability when traded as an asset in an active market when no adjustments to the quoted price of the asset are required are both Level 1 fair value measurements. If adjustments are required to be applied to the quoted price, it results in a level 2 or 3 fair value measurement. The guidance provided in the update is effective for the first reporting period (including interim periods) beginning after issuance. The effect of implementing of ASC Update No. 2009-05 was not material to the Company’s financial position or results of operations.

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

(p)

Recent accounting pronouncements (Continued)

In September 2009, the FASB issued ASC Update No. 2009-12, Fair Value Measurements and Disclosures (Topic 820): Investments in Certain Entities that Calculate Net Asset Value per Share (or Its Equivalent) (“ASC Update No. 2009-12”). This update sets forth guidance on using the net asset value per share provided by an investee to estimate the fair value of an alternative investment. Specifically, the update permits a reporting entity to measure the fair value of this type of investment on the basis of the net asset value per share of the investment (or its equivalent) if all or substantially all of the underlying investments used in the calculation of the net asset value is consistent with ASC 820. The update also requires additional disclosures by each major category of investment, including, but not limited to, fair value of underlying investments in the major category, significant investment strategies, redemption restrictions, and unfunded commitments related to investments in the major category. The amendments in this update are effective for interim and annual periods ending after December 15, 2009 with early application permitted. The effect of implementing of ASC Update No. 2009-12 was not material to the Company’s financial position or results of operations.

In January 2010, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update, Fair Value Measurements and Disclosures (Topic 820), Improving Disclosures about Fair Value Measurements. The Update would affect all entities that are required to make disclosures about recurring and nonrecurring fair value measurements. The Board concluded that users will benefit from improved disclosures in this Update and that the benefits of the increased transparency in financial reporting will outweigh the costs of complying with the new requirements. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 30, 2010, and for interim periods within those fiscal years.

In January 2010, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update to address implementation issues related to the changes in ownership provisions in the Consolidation—Overall Subtopic (Subtopic 810-10) of the FASB Accounting Standards Codification™, originally issued as FASB Statement No. 160, Noncontrolling Interests in Consolidated Financial Statements. Subtopic 810-10 establishes the accounting and reporting guidance for noncontrolling interests and changes in ownership interests of a subsidiary. An entity is required to deconsolidate a subsidiary when the entity ceases to have a controlling financial interest in the subsidiary. Upon deconsolidation of a subsidiary, an entity recognizes a gain or loss on the transaction and measures any retained investment in the subsidiary at fair value. The gain or loss includes any gain or loss associated with the difference between the fair value of the retained investment in the subsidiary and its carrying amount at the date the subsidiary is deconsolidated. In contrast, an entity is required to account for a decrease in its ownership interest of a subsidiary that does not result in a change of control of the subsidiary as an equity transaction.

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

3. DEPOSITS, PREPAYMENTS AND OTHER RECEIVABLES

Deposits, prepayments and other receivables are summarized as follow:

	2010		2009
Rent deposit	$	6,920	$	6,920
Advance to suppliers		—		—
Prepaid tax		10,735		11,309
Other prepayments		102		102

	$	17,757	$	18,331

4. PROPERTY, PLANT AND EQUIPMENT, NET

Details of property, plant and equipment are as follows:

	2010			2009
At cost
Motor vehicle	$	142,390		$	142,390
Furniture and office equipment		16,921			16,921
Leasehold improvement		4,057			4,057
Plant and machinery	$	1,878,678		$	1,878,678

	$	2,042,046		$	2,042,046
Less: accumulated depreciation		(865,920	)		(446,054	)
	$	1,176,126		$	1,595,992

Depreciation expense included in the general administration expenses for the years ended December 31, 2010 and 2009 were $419,866 and $421,134 respectively.

5. RECEIVABLES FROM RELATED PARTIES

Details of receivables from related parties are as follows:

Name of party	Common shareholder	2010		2009
Greatmat Engineering Limited (1)	Chris Yun Sang SO	$	333,333	$	—
Due from director - Chris Yun Sang SO (2)			868,538
Receivables from related parties		$	1,201,871	$	—

(1)

Amount due from a related company is unsecured, interest-free, and repayable on demand.

(2)

Amount due from director is non-interest bearing, repayable on demand and unsecure.

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008

(Stated in US Dollars)

6. ACCOUNTS PAYABLE AND ACCRUED CHARGES

	2010		2009
Trade payables	$	2,795,317	$	432,631
Accrued audit fee		60,000		60,000
Other accrued expenses		19,849		3,879

	$	2,875,166	$	496,510

7. BANK LOANS

	2010			2009
Bank loan
$469,231 (a)	$	372,343		$	388,807
-China Construction Bank (Asia) Corporation Limited
-interest rate: 2.75% per annum below the prime rate
-fully repayable in September 2028
$192,308 (b)		—			163,011
-DBS Bank (Hong Kong) Limited
-interest rate: 2.25% per annum below Prime Rate
-fully repayable in February 2010
$128,205 (c)		—			108,733
-China Construction Bank (Asia) Corporation Limited
-interest rate: 2% per annum above the prime rate
-fully repayable in June 2012
$269,231 (d) -Wing Hang Bank (Asia) Corporation Limited -interest rate: 0.5% per annum below the Prime Rate - fully repayable in February 2015		223,713			—
Less: Current portion	$	(69,820	)	$	(115,044	)

Non-current portion	$	526,236		$	545,507

	(a):	The bank loan is secured by the director’s property.
	(b):	The bank loan is secured by the director’s property.

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Table of Contents

GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

7. BANK LOANS (Continued)

	(c):	The bank loan is secured by a floating charge over the director’s property and from the Government of the Hong Kong Special Administrative Region (as represented by the Director of Trade & Industry) for HKD 700,000 (US$89,744) under the Special Loan Guarantee Scheme.
	(d):	The bank loan is secured by a floating charge over the director’s property and from the Government of the Hong Kong Special Administrative Region (as represented by the Director of Trade & Industry) for HKD 2,100,000 (US$269,231) under the Special Loan Guarantee Scheme.

8. AMOUNT DUE TO A DIRECTOR

Amount due to a director is unsecured, interest-free, and repayable on demand.

9. EARNINGS PER SHARE

The calculation of the basic earnings per share attributable to the common stock holders is based on the following data:

	2010		2009
Net income:

Net income for the purpose of basic and dilutive earnings per share	$	827,858	$	653,679

Number of shares:

Weighted average number of common stock for the purpose of basic and dilutive earnings per share(*)		7,726,161		7,312,140

(*) Note: The basic and dilutive earnings per share are the same owing to no dilutive effect. However, the number is first restated to reflect the reverse merger effect of the accounting acquirer, and then retroactively restated to reflect the 1 for 5 reverse-split on October 30, 2010.

10. INCOME TAXES

(a) The Company and its subsidiaries are subject to income taxes on an entity basis on income arising in, or derived from, the tax jurisdiction in which they operate.

Greatmat Holdings Limited, incorporated under the International Business Companies Act of the British Virgin Islands, is exempted from payment of the British Virgin Islands income taxes.

Greatmat Technology (HK) Limited and Greatmat Technology Limited, the Company’s subsidiaries incorporated in Hong Kong, are subject to Hong Kong profits tax at a rate of 16.5%.

Greatmat Technology (China) Limited, the Company’s subsidiary incorporated in British Virgin Islands, is subject to Macau profits tax at a rate of 12%.

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GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

10. INCOME TAXES (Continued)

Profits tax has been provided on the estimated assessable profits for the year:

	2010		2009
Hong Kong profits tax provision	$	—	$	37,093
Macau profits tax provision		156,631		156,631

Tax charge	$	156,631	$	193,724

(b) No deferred tax has been provided as there are no material temporary differences arising during the years ended December 31, 2010 and 2009.

11. COMMITMENTS AND CONTINGENCIES

At December 31, 2010 and 2009, the company had total minimum lease commitments under non-cancellable operating lease in respect of office premises which fall due as follow:

	2010		2009
Land and buildings:
- No later than one year	$	112,669	$	24,791
- Later than one year and not later than five years		322,183		10,329

	$	434,852	$	35,120

12. SUBSEQUENT EVENTS

The Company has evaluated all other subsequent events through January 10, 2013, the date these consolidated financial statements were issued and restated, and determined that there were no other subsequent events or transactions that require recognition or disclosures in the financial statements except the following events:

1. On September 21, 2011, the Company was re-domiciled from State of Nevada to the Cayman Islands.

2. On December 30, 2011, the Company approved to dispose the three subsidiaries including Greatmat Technology Limited, Greatmat Technology (HK) Limited and Greatmat Technology (China) Limited by transferring 100% of the common stock of these three companies being hold by Greatmat Holdings Limited to Mr, Chris Yun Sang So in the consideration of HK$1, HK$10,000 and US$1, respectively.

3. On December 30, 2011, Great Holdings Limited agreed with Yunfu City Yuncheng District Changyi Stone Factory (“YCYDCSF”) to bear all the damages on Clause 2.10 of RMB 5,000,000 yearly compensation to YCYDCSF under the 5 years Exclusive Manufacturing Agreement on June30, 2004 filed as Exhibit 10.1, Form 8-K on November 3, 2010 by a Damages Agreement on December 30, 2011. Greatmat Holdings Limited also agreed with YCYDCSF to extend this Exclusive Manufacturing Agreement in a Supplementary Agreement on the Exclusive Manufacturing Agreement and the Extension of the Original Agreement from June 30, 2009 to June 30, 2014 for another 5 years.

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GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

4. On July 30, 2012, the Company approved Share Exchange Agreement between the Company and Mr. Chris Yun Sang So to transfer all the Company common stock on his hand to the Company in consideration of 100% common stock of Greatmat Holdings Limited through an oral agreement.

13. RESTATEMENT

The management has changed their estimation that an annual compensation according to the Exclusive Manufacturing Agreement dated on June 30, 2004, and the following damage compensation and 5 years extension agreements will need to be provided. Therefore, the company prepares provisions to cover this expense according to ASC 450-20-55-10 Loss Contingencies. Under ASC 250 Accounting Change and Error Corrections, the company provided the following restatement.

CONSOLIDATED BALANCE SHEETS

ITEMS	Dec 31, 2009		Dec 31, 2009
	Original		Restated

LIABILITIES AND
STOCKHOLDERS’ EQUITY

Total current liabilities	$	1,633,547	$	1,633,547
Secured bank loan-non-current portion		545,507		545,507
Provision of compensation		0		4,033,914
TOTAL LIABILITIES	$	2,179,054	$	6,212,968

STOCKHOLDERS’ EQUITY Paid-in capital	$	1	$	1
Retained earnings		1,511,272		(2,141,464	)
Foreign exchange reserves		0		(381,178	)
Total Stockholders’ Equity	$	1,511,272	$	(2,522,641	)

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	3,690,327	$	3,690,327

As a result of the restatement of the consolidated balance sheet as of December 31, 2009, the provision of compensation increased from $0 to $4,033,914. The total liabilities increased from $2,179,054 to $6,212,968. The retained earnings decreased from $1,511,272 to $(2,141,464), In addition, the foreign exchange reserves increased from 0 to $(381,178), the total stockholders’ equity decreased from $1,511,272 to $(2,522,641). The total assets, total liabilities and stockholders’ equity have no changes.

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GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

13. RESTATEMENT (Continued)

ITEMS		For the year ended Dec 31, 2009			For the year ended Dec 31, 2009
		Original			Restated
Operating expenses:
General and administrative			(875,082	)		(1,608,091	)

Operating income/(loss)		$	1,605,280		$	872,271
Other income			—			—
Interest expenses			(24,868	)		(24,868	)

Income before income taxes		$	1,580,412		$	847,403

Income taxes	10		(193,724	)		(193,724	)

Net income/(loss)		$	1,386,688		$	653,679

Dividend paid			—			—

Net income after dividends			1,386,688			653,679

Earnings per share:
-Basic and diluted	9	$	1,386,688			653,679

Weighted average number of common stock
-Basic and diluted			1			1

As a result of the restatement of the consolidated statement of income for the year ended December 31, 2009, the general and administrative expenses increased from $875,082 to $1,608,091. Operating income decreased from $1,605,280 to $872,271. Income before income taxes decreased from $1,580,412 to $847,403. Net income decreased from $1,386,688 to $653,679. Net income after dividends decreased from $1,386,688 to $653,679. The Basic and diluted earnings per share decreased from $1,386,688 to $653,679 accordingly.

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GREATMAT TECHNOLOGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009

(Stated in US Dollars)

13. RESTATEMENT (Continued)

CONSOLIDATED STATEMENTS OF CASH FLOW

ITEMS	For the year ended Dec 31, 2009		For the year ended Dec 31, 2009
	Original		Restated
Cash flows from operating activities
Net income	$	1,386,688	$	653,679

Provision of compensation		0		733,009

As a result of the restatement of the consolidated cash flow for the year ended December 31, 2009, the net income decreased from $1,386,688 to $653,679 which was offset by the increase of provision of compensation from $0 to 733,009. The net cash flows from operating activities, investing activities, financing activities and net cash and cash equivalents sourced have no changes.

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ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

None.

ITEM 9A. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

We maintain "disclosure controls and procedures," as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to our management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, management recognized that disclosure controls and procedures, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the disclosure controls and procedures are met. Additionally, in designing disclosure controls and procedures, our management necessarily was required to apply its judgment in evaluating the cost-benefit relationship of possible disclosure controls and procedures. The design of any disclosure controls and procedures also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.

As of December 31, 2010, we carried out an evaluation, under the supervision and with the participation of the Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, the Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were not effective, because certain deficiencies involving internal controls constituted material weaknesses as discussed below. The material weaknesses identified did not result in the restatement of any previously reported financial statements or any other related

financial disclosure, nor does management believe that it had any effect on the accuracy of the Company's financial statements for the current reporting period.

Management’s Report of Internal Control over Financial Reporting.

We are responsible for establishing and maintaining adequate internal control over financial reporting in accordance with Exchange Act Rule 13a-15. With the participation of the Chief Executive Officer and Chief Financial Officer, our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of December 31, 2010 based on the criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation, management concluded that there are material weaknesses in our internal control over financial reporting. A material weakness is a deficiency, or a combination of control deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of the Company's annual or interim financial statements will not be prevented or detected on a timely basis. As of December 31, 2010, management determined that the Company did not maintain effective controls over information technology business processes and financial reporting. Specifically, the Company identified deficiencies with respect to design and operation of controls over segregation of duties, restricted access, changes to vendor and customer master data, transaction level and financial close controls which aggregated to a material weakness in internal control over financial reporting. We have determined that this deficiency constitutes a "material weakness" in our internal control over financial reporting. Due to these material weaknesses, management has concluded that our internal control over financial reporting was not effective as of December 31, 2010.

In order to mitigate these material weaknesses to the fullest extent possible, all financial reports are reviewed by the Chief Financial Officer, who has limited system access. In addition, regular meetings are held with the Board. If at any time we determine a new control can be implemented to mitigate these risks at a reasonable cost, it is implemented as soon as possible.

This annual report does not include an attestation report of the Company’s registered accounting firm regarding internal control over financial reporting. The Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Obama on July 21, 2010 allows small public companies to have a permanent exemption from the Sarbanes-Oxley Section 404(b) requirement to obtain an audit report of internal controls over financial reporting.

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Changes in Internal Controls.

During the fourth quarter of 2010, there were no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rule 13a-15 or Rule 15d-15 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ITEM 9B. OTHER INFORMATION.

None.

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PART III

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Officers and Directors

Each of our directors serves until his or her successor is elected and qualified. Each of our officers is elected by the board of directors to a term of one (1) year and serves until his or her successor is duly elected and qualified, or until he or she is removed from office. The board of directors has no nominating, auditing or compensation committees.

The name, address, age and position of our present officer and director are set forth below as of December 31, 2010:

Name and Address	Age	Position(s)
Chris Yun Sang So	48	President, Chief Executive Officer, and Director
Simon Chi Keung Fung	48	Chief Financial Officer
Carol Lai Ping Ho	39	General Manager, Secretary, Treasurer, Director
Rick Chun Wah Tse	36	Director

Mr. So has held his offices since July 16, 2009 and has served as a director since October 4, 2009.

Background of Officers and Directors

Chris Yun Sang So Chief Executive Officer, President, and Director

Chris Yun Sang So has been the Chief Executive Officer, President, and Director of the Company since October 2010 and has been the founder, Chairman and Chief Executive Officer of Greatmat Hong Kong since May 2004. Mr. So holds a Master of Science Degree in Management from International American University and a post-graduate Diploma in Management Studies from South China Polytechnic Institute. Prior to founding Greatmat, Mr. So had over 20 years of business and management experience in the Hong Kong and Chinese building materials industry. Under his leadership, in 2005 Greatmat was awarded a grant from the Hong Kong Innovative Technology Fund for the creation of innovative construction materials. Under his leadership, in 2009 Greatmat was granted a Hong Kong Award for Environmental Excellence.

Simon Chi Keung Fung, Chief Financial Officer

Simon Chi Keung Fung, Chief Financial Officer, has more than 20 years of accounting experience, including experience in management and operations, auditing, internal control maintenance, budgeting and tax planning. From 1994 through the present, Mr. Fung has operated Fung Chi Keung & Company, Certified Public Accountants, an accounting firm in Hong Kong of which he is the sole proprietor. Mr. Fung is a practicing Certified Public Accountant in Hong Kong as well as an associate member of the Chartered Association of Certified Public Accountants of England & Wales and a fellow member of the Chartered Association of Certified Public Accountants in the United Kingdom. Mr. Fung holds a law degree from the University of London.

Carol Lai Ping Ho, General Manager, Secretary and Treasurer, Director

Carol Lai Ping Ho has been the General Manager, Secretary and Treasurer of the Company since October 2010 and has been the General Manager of Greatmat since July 2004. Ms. Ho formerly worked for the Hong Kong Polytechnic University and Oliver’s Super Sandwiches Management Limited and has over 10 years of experience in management and accounting. Ms. Ho graduated from the University of Hong Kong with a BA (Honour) degree in Management Studies.

Rick Chun Wah Tse, Marketing Director, Director

Rick Chun Wah Tse has been the Marketing Director of the Company since October 2010 and has been the Marketing Director of Greatmat since May 2004. Mr. Tse obtained his Diploma in Business Management from the Hong Kong Management Association and has over ten years of experience in sales, product research and development and management.

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Involvement in Certain Legal Proceedings

To our knowledge, during the past ten years, no present director or executive officer of our company: (1) filed a petition under the federal bankruptcy laws or any state insolvency law, nor had a receiver, fiscal agent or similar officer appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer within two years before the time of such filing; (2) was convicted in a criminal proceeding or named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses); (3) was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from or otherwise limiting the following activities: (i) acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person of any of the foregoing, or as an investment advisor, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity; (ii) engaging in any type of business practice; or (iii) engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of federal or state securities laws or federal commodities laws; (4) was the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal or state authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described above under this Item, or to be associated with persons engaged in any such activity; (5) was found by a court of competent jurisdiction in a civil action or by the Securities and Exchange Commission to have violated any federal or state securities law and the judgment in such civil action or finding by the Securities and Exchange Commission has not been subsequently reversed, suspended or vacated; (6) was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated; (7) was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of: (i) any Federal or State securities or commodities law or regulation; or (ii) any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order; or (iii) any law or regulation prohibiting mail or wire fraud in connection with any business entity; or (8) was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Securities Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.

Audit Committee and Charter

We do not have a separately-designated audit committee of the board. Audit committee functions are performed by our board of directors. None of our directors are deemed independent. All directors also hold positions as our officers. The functions of audit committee include: (1) selection and oversight of our independent accountant; (2) establishing procedures for the receipt, retention and treatment of complaints regarding accounting, internal controls and auditing matters; (3) establishing procedures for the confidential, anonymous submission by our employees of concerns regarding accounting and auditing matters; (4) engaging outside advisors; and, (5) funding for the outside auditory and any outside advisors engagement by the audit committee.

Code of Ethics

We have adopted a corporate code of ethics which was filed on November 16, 2009 as exhibit 14 on Aurum’s Annual Report on Form 10-K. We believe our code of ethics is reasonably designed to deter wrongdoing and promote honest and ethical conduct; provide full, fair, accurate, timely and understandable disclosure in public reports; comply with applicable laws; ensure prompt internal reporting of code violations; and provide accountability for adherence to the code.

Disclosure Committee and Charter

We have a disclosure committee and disclosure committee charter. Our disclosure committee is comprised of all of our officers and directors. The purpose of the committee is to provide assistance to the Chief Executive Officer and the Chief Financial Officer in fulfilling their responsibilities regarding the identification and disclosure of material information about us and the accuracy, completeness and timeliness of our financial reports.

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Section 16(a) Beneficial Ownership Reporting Compliance

The Company is not aware of any failures to file a report required by Section 16(a) of the Securities Exchange Act with respect to the Company’s common stock during the period covered by this annual report.

ITEM 11. EXECUTIVE COMPENSATION

Compensation of Officers and Directors

The following table sets forth compensation paid by the Company to the executive officers of the Company for services rendered during the fiscal years ended December 31, 2010 and 2009.

Name		Position	Year		Salary ($)		All other Compensation ($)		Total Compensation
	Chris So(1)	CEO, President, Director		2010	$	64,103	$	0	$	64,103
				2009	$	64,103	$	0	$	64,103
	Simon Fung(2)	CFO		2010	$	0	$	0	$	0
				2009	$	0	$	0	$	0
	Carol Ho(3)	Secretary, Treasurer, Director		2010	$	32,308	$	0	$	32,308
				2009	$	29,615	$	0	$	29,615
	Rick Tse(4)	Director		2010	$	27,692	$	0	$	27,692
				2009	$	25,385	$	0	$	25,385
	Yau-sing Tang(5)			2010	$	0	$	0	$	0
				2009	$	0	$	0	$	0

(1)

Mr. Chris So was appointed as President, Chief Executive Officer and Chief Financial Officer on October 30, 2010 and was the director of the Company during the fiscal year ended December 31, 2010.

(2)

Mr. Simon Fung was appointed as Chief Financial Officer on January 27, 2011.

(3)

Ms. Carol Ho was appointed as secretary, treasurer, and director on October 30, 2010.

(4)

Mr. Rick Tse was appointed as director on October 30, 2010.

(5)

Mr. Yau-sing Tang resigned as President, Chief Executive Officer, Chief Financial Officer, Secretary, Treasurer and director on October 30, 2010.

Employment Agreements

We have not entered into any employment agreements with our officers and director.

Compensation of Directors

The members of our board of directors are not compensated for their services as directors. The board has not implemented a plan to award options to any directors. There are no contractual arrangements with any member of the board of directors. We have no director's service contracts. The compensation paid to all the Company’s officers and director during the year ended December 31, 2010 and 2009 are disclosed as above.

Pension Benefits and Compensation Plans

We do not have any pension benefits or compensation plans.

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Potential Payments upon Termination or Change-in-Control

Stock Option

There are no stock option, retirement, pension, or profit sharing plans for the benefit of our officers and directors.

Long-Term Incentive Plan Awards

We do not have any long-term incentive plan.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table sets forth information regarding beneficial ownership of our common stock as of December 31, 2010 (i) by each person who is known by us to beneficially own more than 5% of our common stock; (ii) by each of our officers and directors; and (iii) by all of our officers and directors as a group. Unless otherwise specified, the address of each of the persons set forth below is in care of the Company, 148 Electric Road, North Point, Hong Kong. Except as indicated in the footnotes to this table and subject to applicable community property laws, the persons named in the table to our knowledge have sole voting and investment power with respect to all shares of securities shown as beneficially owned by them. The information in this table is as of December 31, 2010 based upon 9,749,923 shares of common stock outstanding.

Name and Address of Beneficial Owner	Office, If Any	Amount and Nature of Beneficial Ownership	Percent Common Stock

Chris So	President, Chief Executive Officer, Director	6,999,700	71.80%
Simon Fung	Chief Financial Officer	50,000	0.51%
Carol Ho	Secretary, Treasurer, Director	36,000	0.37%
Rick Tse	Director	36,000	0.37%
All officers and directors as a group (four persons named above)		7,121,700	73.05%
5% Security Holders
Wellkey Holdings Limited		1,218,980(1)	12.5%

(1) The Shares are indirectly owned by Yau-sing Tang through his 100% owned company called Wellkey Holdings Limited, a company incorporated under the laws of the British Virgin Islands.

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

(a) Transactions with Related Persons

During 2010, the Company had transactions in the total amount of $333,333 with Greatmat Engineering Limited which has the common shareholder Chris Yun Sang So. At the same period the amount due from our director, Chris Yan Sang So, was $868,538. The account receivable from related parties was $1,201,871. All amounts due from related parties were unsecured, interest-free and repayable on demand.

(b) Promoters and control persons

During the past five fiscal years, Patrick Mohammed, and Yau-sing Tang have been promoters of the Company’s business, but none of these promoters have received anything of value from the Company nor is any person entitled to receive anything of value from the Company for services provided as a promoter of the business of the Company.

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(c) Director independence

The Company’s board of directors currently consists of Chris So, Carol Ho, and Rick Tse. Pursuant to Item 407(a) (1) (ii) of Regulation S-K of the Securities Act, the Company’s board of directors has adopted the definition of “independent director” as set forth in Rule 4200(a) (15) of the NASDAQ Manual. In summary, an “independent director” means a person other than an executive officer or employee of the Company or any other individual having a relationship which, in the opinion of the Company’s board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director, and includes any director who accepted any compensation from the Company in excess of $200,000 during any period of 12 consecutive months with the three past fiscal years. Also, the ownership of the Company’s stock will not preclude a director from being independent.

In applying this definition, the Company’s board of directors has determined that both Chris So, Carol Ho and Rick Tse do not qualify as an “independent director” pursuant to Rule 4200(a) (15) of the NASDAQ Manual.

As of the date of the report, the Company did not maintain a separately designated compensation or nominating committee. Rather, the board of directors performs the functions of these committees. We do not believe it is necessary for the board of directors to appoint such committees, because the volume of matters that come before the board of directors for consideration is not so substantial that our directors are usually allowed sufficient time and attention to such matters.

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES.

Aggregate fees for professional services rendered for the Company by Albert Wong & Company as our principal independent registered public accounting firm are set forth below.

Fees for the fiscal years ended December 31, 2010 and 2009

Audit Fees. Albert Wong & Company was paid aggregate fees of approximately $16,821 and $12,500, respectively, for the audit of our annual financial statements for the fiscal years ended December 31, 2009 and 2010 and review of our quarterly financial statements during such years.

Audit-Related Fees. None.

Tax Fees. Albert Wong & Company was paid aggregate fees of approximately $600 per year.

All Other Fees. There were no fees billed by Albert Wong & Company for other products and services for the fiscal years ended December 31, 2010.

Audit Committee’s Pre-Approval Process

The Board of Directors acts as the audit committee of the Company, and accordingly, all services are approved by all the members of the Board of Directors.

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PART IV

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.

I. Listing of Documents

(1)	Financial Statements.

Report of Independent Registered Public Accounting Firms

Balance Sheets – As of December 31, 2010 and 2009

Statements of Operations – For the Year Ended December 31, 2010 and 2009.

Statements of Stockholders’ Deficit – For the Year Ended December 31, 2010 and 2009.

Statements of Cash Flows – For the Years Ended December 31, 2010 and 2009.

Notes to the Audited Financial Statements

(2)	The following Exhibits are filed as part of this report on Form 10-K:

Exhibit	Description
3.1	Certificate of Amendment to Articles of Incorporation of the Company filed with the Nevada Secretary of State on December 22, 2010.
3.2	Bylaws of Greatmat Technology Corporation, filed as Exhibit 3.2 to Aurum’s Current Report on Form 8-K on November 3, 2010, and incorporated herein by reference.
10.1	Manufacturing Agreement, dated July 30, 2004, between Greatmat Technology (HK) Limited and Yunfu Changyi Stone Factory filed as filed as Exhibit 10.1 to Aurum’s Current Report on Form 8-K on November 3, 2010, and incorporated herein by reference.
10.2	Damages Agreement between Greatmat Holdings Limited and Yunfu Changyi Stone Factory dated 30 December, 2011 filed as Exhibit 10.2 to Greatmat Technology’s Current Report on Form 8K/A on February 27, 2013, and incorporated herein by reference.
10.3	Supplementary agreement to the Exclusive Manufacturing Agreement among Greatmat Technology (HK) Limited, Greatmat Holdings Limited, and Yunfu Changyi Stone Factory dated as December 30, 2011 filed as Exhibit 10.3 to Greatmat Technology’s Current Report on Form 8K/A on February 27, 2013, and incorporated herein by reference.
10.4	Stock Purchase Agreement between Aurum Explorations, Inc. and Yau-sing Tang, dated October 27, 2010, filed as an Exhibit 10.2 to Aurum’s Current Report on Form 8-K filed on November 2, 2010, and incorporated herein by reference.
31.1*	Certification of Chris Yun Sang So, Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*	Certification of Simon Chi Keung Fung, Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1*	Certification of Chris Yun Sang So, Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2*	Certification of Simon Chi Keung Fung, Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
99.1	Audit Committee Charter, filed as an Exhibit to Aurum’s Form 10-K on November 16, 2009, and incorporated herein by reference.
99.2	Disclosure Committee Charter, filed as an Exhibit to Aurum’s Form 10-K on November 16, 2009, and incorporated herein by reference.

____________________

*Filed herewith.

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Greatmat Technology Corporation


Date: April 8, 2013	By : /s/ Chris Yun Sang So Chris Yun Sang So Chief Executive Officer (principal executive officer) By : /s/ Simon Chi Keung Fung Simon Chi Keung Fung Chief Financial Officer (principal financial officer and accounting officer)

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