China INSOnline Corp. Reports Operating Results (10-K)

China INSOnline Corp. (CHIO, Financial) filed Annual Report for the period ended 2009-06-30.

Dexterity Surgical Inc. is engaged in the distribution of instruments equipment and surgical supplies used in and hand-assisted laparoscopic surgery through an exclusive distribution agreement with Weck Closure Systems LLC. China Insonline Corp. has a market cap of $34.8 million; its shares were traded at around $0.92 .

Highlight of Business Operations:

The First Amended Plan of Liquidation was subsequently amended on March 2, 2006, by an order titled “Order Approving Modification of the First Amended Plan” (the “Order”). The amendments provided for in the Order included the Bankruptcy Court s authorization of a $50,000 Debtor-In-Possession Loan (the “DIP Loan”) for payment of administrative expenses of the bankruptcy, which converted into 6,000,000 shares of Common Stock (the “Section 1145 Shares”) and 3,000,000 warrants (the “Section 1145 Warrants”) under Section 1145 of the U.S. Bankruptcy Code at the option of the holder(s) of the DIP Loan. Immediately prior to the Exchange (as defined and discussed in detail herein below), the Section 1145 Warrants were cancelled. For an additional $125,000, the Bankruptcy Court authorized the sale of 25,000,000 restricted shares of Common Stock to an investor for the payment of both administrative claims and creditor claims. The Bankruptcy Court also provided as follows:

Pursuant to the Services Agreements, ZBDT shall provide on-going technical services and other services to ZYTX in exchange for substantially all net income of ZYTX. In addition, Mr. Zhenyu Wang and Ms. Junjun Xu have pledged all of their shares in ZYTX to ZBDT, representing one hundred percent (100%) of the total issued and outstanding capital stock of ZYTX, as collateral for non-payment under the Service Agreements or for fees on technical and other services due to us thereunder. We have the power to appoint all directors and senior management personnel of ZYTX. Currently, ZYTX is sixty percent (60%) owned by Mr. Zhenyu Wang, our Chairman of the Board, and forty percent (40%) owned by Junjun Xu, our Chief Executive Officer and a director. The registered capital of ZYTX is RMB 1 million (US$126,360 upon inception, US$133,883 as of the Closing Date), of which Mr. Zhenyu Wang has (or will pursuant to installment obligations) contributed RMB 600,000 and Ms. Junjun Xu has (or will pursuant to installment obligations) contributed RMB 400,000.

Thereafter, through trial implementation of www.soobao.cn, ZYTX strengthened its technical research and development and expanded its product line. From October 8, 2006 (inception) through June 30, 2007, ZYTX s fiscal year end, ZYTX realized net revenue of RMB 17.2 million (US$2.2 million) and net profits of RMB 13.8 million (US$1.8 million).

At present, the Company has been engaged in preliminary market researching and core technology buildings. The Company estimates that it has spent $0 on R&D during the fiscal year ended June 30, 2009 and $74,446 on R&D during the fiscal year ended June 30, 2008. In our next phase of development, the Company intends to focus its R&D on (i) integral solution to online application of insurance industry, (ii) Web-based extended applications of the network portal system, (iii) a comprehensive life insurance comparison and timely quotation system, which shall put life insurance products under a scientific and quantitative calculating index and (iv) a data statistical and analytical system for the insurance industry. Based on a great deal of effective clicks on the network portal, we believe that this system will make statistics and analysis of the consumer group s points of interest regarding the present and future insurance products. We believe this statistic data will have a high commercial value with respect to the insurance companies

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