GLOSCORE PHILS INC.

FINANCIAL STATUS REPORT

As of December 31, 2006

ASSETS:
Cash in Bank BDO 190,514.72 P/
PDB 493,552.65
BPI 93,565.62
Chinabank 515,032.17
Allied Bank 124,196.43
Dollar Accoutns(US$ 53.00= 995.86) 52,780.58 1,469,642.17

PDC for Deposit

Cordova January 6, 2006 9,784.00
9,784.00
TOTAL CASH POSITION 1,479,426.17

ACCOUNT RECEIVABLE (SALES)

ACCOUNT RECEIVABLE (PROJECT)
Ateneo Plant boxes 125,712.45
Ateneo Salcedo 190,000.00
AteneoUpper roof deck 78,500.00
Legend Hotel Tipanan 20,321.97
Legend Hotel Villavencio Project 22,700.00
Armadillo Non shrink grout 6,800.00
Titanuim Corporation crack injection 25,000.00
The legend hotel Lola Maria 28,400.00
Robinson Galleria 770,000.00
Robinson Cainta 1,309,396.87
Holy Angel 98,238.03
Stages Anson Project 96,000.00
FR Sevilla 629,839.51
UST 19,500.00
Monolith Landmark 54,238.71
Metro stone rich corp 63,000.00
Romtech Payment for duties & taxes/brokerage 113,549.72
Davco Importation 3,651,197.26
MERCHANDISE INVENTORY
Wiltronex 70,505.03
macsim 39,590.50
other products 95,450.99
322 rolls of flextorch 512,569.26 718,115.78
CHEMICAL POLYURETHANE FOAM
Blowing Agent 141B 1 drum
ck no.4141777 MDI 2 drums from Daedong 70,000.00
Polyol 1/2 drum 70,000.00
TOTAL ASSET 5,918,739.21
LIABILITIES:
ACCOUNTS PAYABLE
Dec-06 Davco Importation US$8,951.60 322 rolls flextorch 492,338.00
Ruben Correa 400,000.00

Oct-06 Romtech Construction Inc. 8,280.00

Jhelet Gen. Merchandise 211,720.00
Living color Paint center 1,640.00

Nov-06 Romtech Construction Inc. 501,704.43

Jhelet Gen. Merchandise 174,430.00
Manhattan 174,950.00
Living Color 1,730.00

Dec-06 Jhelet 53,480.00

Manhattan Chemical corp 407,750.00
AMVG 4,264.00
Living color 500.00
7-Jan Jhelet 9,940.00
Romtech Construction Inc. 6,613.45
Federal construction 459.00
AMVG Marketing 14,072.00
Grand Aces 2,688.00
New Aying Auto Supply 700.00
Manhattan Chemical Corp 142,500.00

Feb-06 Jhelet Gen Merchandise 9,750.00

TOTAL ACCOUNT LIABILITIES 2,619,508.88
TOTAL FINANCIAL STATUS P/ 3,299,230.33

HOLD Arsant (UP Project) 153,000.00

Importation Flamebar (Fire sealant) 125,286.00

Importation Flamebar (BW11) 370,776.40
Importation Flamebar ( gasket) 91,845.00

MBA Urethane Foam/Don Bosco 21,766.50

MBA Urethane Foam/Medical City 334,164.13
PU rigid SI no. 4516 5,880.00
MBA urethane SI no. 1807 4,000.00
P/ 1,106,718.03
GLOSCORE PHILS INC.
FINANCIAL STATUS REPORT
SAMPLE

ASSETS:
Cash in Bank BDO 190,514.72 P/
PDB 493,552.65
BPI 93,565.62
Chinabank 515,032.17
Allied Bank 124,196.43
Dollar Accoutns(US$ 53.00= 995.86) 52,780.58 1,469,642.17

PDC for Deposit

Cordova January 6, 2006 9,784.00
9,784.00
TOTAL CASH POSITION 1,479,426.17

ACCOUNT RECEIVABLE (SALES)

ACCOUNT RECEIVABLE (PROJECT)
Ateneo Plant boxes 125,712.45
Ateneo Salcedo 190,000.00
AteneoUpper roof deck 78,500.00
Legend Hotel Tipanan 20,321.97
Legend Hotel Villavencio Project 22,700.00
Armadillo Non shrink grout 6,800.00
Titanuim Corporation crack injection 25,000.00
The legend hotel Lola Maria 28,400.00
Robinson Galleria 770,000.00
Robinson Cainta 1,309,396.87
Holy Angel 98,238.03
Stages Anson Project 96,000.00
FR Sevilla 629,839.51
UST 19,500.00
Monolith Landmark 54,238.71
Metro stone rich corp 63,000.00
Romtech Payment for duties & taxes/brokerage 113,549.72
Davco Importation 3,651,197.26
MERCHANDISE INVENTORY
Wiltronex 70,505.03
macsim 39,590.50
other products 95,450.99
322 rolls of flextorch 512,569.26 718,115.78
CHEMICAL POLYURETHANE FOAM
Blowing Agent 141B 1 drum
ck no.4141777 MDI 2 drums from Daedong 70,000.00
Polyol 1/2 drum 70,000.00
TOTAL ASSET 5,918,739.21
LIABILITIES:
ACCOUNTS PAYABLE
Dec-06 Davco Importation US$8,951.60 322 rolls flextorch 492,338.00
 Ruben Correa 400,000.00

Oct-06 Romtech Construction Inc. 8,280.00

Jhelet Gen. Merchandise 211,720.00
Living color Paint center 1,640.00

Nov-06 Romtech Construction Inc. 501,704.43

Jhelet Gen. Merchandise 174,430.00
Manhattan 174,950.00
Living Color 1,730.00

Dec-06 Jhelet 53,480.00

Manhattan Chemical corp 407,750.00
AMVG 4,264.00
Living color 500.00
7-Jan Jhelet 9,940.00
Romtech Construction Inc. 6,613.45
Federal construction 459.00
AMVG Marketing 14,072.00
Grand Aces 2,688.00
New Aying Auto Supply 700.00
Manhattan Chemical Corp 142,500.00

Feb-06 Jhelet Gen Merchandise 9,750.00

TOTAL ACCOUNT LIABILITIES 2,619,508.88
TOTAL FINANCIAL STATUS P/ 3,299,230.33

HOLD Arsant (UP Project) 153,000.00

Importation Flamebar (Fire sealant) 125,286.00

Importation Flamebar (BW11) 370,776.40
Importation Flamebar ( gasket) 91,845.00

MBA Urethane Foam/Don Bosco 21,766.50

MBA Urethane Foam/Medical City 334,164.13
PU rigid SI no. 4516 5,880.00
MBA urethane SI no. 1807 4,000.00
P/ 1,106,718.03
GLOSCORE PHILS INC.
FINANCIAL STATUS REPORT
As of July 31, 2007
ASSETS:
Cash in Bank BDO 45,868.82 P/
PDB 55,593.32
BPI 66,554.35
Chinabank 444,766.20
Allied Bank 126,267.99
Dollar Accounts(US$ = 45.40 = 1,999.95) 90,797.73 829,848.41
-
TOTAL CASH POSITION 829,848.41

ACCOUNT RECEIVABLE (PROJECT)

Holy angel University 103,228.23
Titanium Corporation 25,000.00
FR Sevilla Ind'l 429,941.18
Monolith Const & Dev't Corp. 10,847.74
Legend Hotel Int'l Kaloocan 42,310.26
Fortune Tobacco Corp. 330,850.00
Metro Stonerich-Prime Star 30,000.00
RSTI-PU Foam @ Las Pinas 68,065.88
Bluetorch Construction 45,882.50
Constech Mgt. Corp. Inc. 23,100.00
Frondoso Residence 200,200.00
Int'l Elevtor & Equipment Inc. 23,294.64
Mr. Emiliano Reyes 6,850.00
Legend Hotels - FB Harrison 254,078.40
Legend Hotels Pasay 590,944.40
Robinsons (Flashing & Gutter-Cainta) 53,840.00
M.R. Vargas Construction 21,181.56
FR Sevilla Ind'l 419,393.99
Asec Ateneo Leong Hall 98,728.65
Royal Terns Ceramics Phils. Inc. 160,420.00
Robinsons (Media Summit-Airduct) 38,000.00
IEEI 100,000.00
Monolith Const & Dev't Corp. 25,587.30
Rizal Library 832,481.10
Jun Galloso (alex d III) 12,500.00 3,946,725.83

MERCHANDISE INVENTORY
Wiltronex 63,174.66
Macsim 32,773.01
other products 52,078.11
248 rolls of flextorch 394,773.84 542,799.62
CHEMICAL POLYURETHANE FOAM
Polyol-Sprayable Green(3 drums)Manhattan 109,650.00
Polyol Daedong mixed 204 kgs 35,700.00 145,350.00

TOTAL ASSET P 1,517,998.03

LIABILITIES:
ACCOUNTS PAYABLE :

Oct-06 Romtech Construction Inc. 8,280.00

Jhelet Gen. Merchandise 460.00

Feb-07 Romtech Construction Inc. 34,831.52

Mar-07 Romtech Construction Inc. 1,258.00

Apr-07 Romtech Construction 38,118.83

May-07 Federal Construction Supply 5,105.00

Romtech Construction 39,853.48
Jun-07 Romtech Construction 62,122.42
Manhattan Chemical corp 556,825.00
Living Color Paint Center 75,310.00
Federal Construction Supply 38,456.50
International Elevator 24,000.00

Jul-07 Romtech Construction 45,418.94

Jhelet Gen Merchandise 11,870.00
Federal Construction 26,021.50
Grand Aces Ventures 18,000.00
Manhattan Chemical corp. 575,750.00
 AMVG Marketing 13,705.95
Spurway 2,335.00
Living Color Paint Center 1,220.00

Aug-07 Jhelet Gen Merchandise 250,895.00

Federal Construction supply 31,198.00
Living color Paint Center 50,820.00
Spurway 582.31
Suretech Enterprise 977.50
Evey Gen Merchandise 27,430.00
Grand Aces Ventures 8,100.00
AMVG Gen Marketing 7,407.00

Sep-07 Jhelet Gen Merchandise 37,500.00

Dec-07 Ruben Correa 1,296,000.00

TOTAL ACCOUNT LIABILITIES 3,289,851.95

TOTAL FINANCIAL STATUS P/ (1,771,853.92)

Plus ON HOLD RECEIVABLES:

Arsant (UP Project) 153,000.00
P/ (1,618,853.92)

Less: ON HOLD ACCOUNT PAYABLES

Importation Flamebar (Fire sealant) 125,286.00
Importation Flamebar (BW11) 370,776.40
Importation Flamebar ( gasket) 91,845.00

MBA Urethane Foam/Don Bosco 21,766.50

MBA Urethane Foam/Medical City 334,164.13
PU rigid SI no. 4516 5,880.00
MBA urethane SI no. 1807 4,000.00
P/ 953,718.03

P/ (2,572,571.95)

MSJ 070907
 GLOSCORE PHILIPPINES INC.
ISSUED POST DATED CHECKS
As of June 6, 2007

DESCRIPTION BANK DATE CK NO. AMOUNT

Toyota Innova Amortization PDB 7-Jan-07 578211 12,144.00

PDB 7-Feb-07 578212 12,144.00
PDB 7-Mar-07 578213 12,144.00
PDB 7-Apr-07 578214 12,144.00
PDB 7-May-07 578215 12,144.00
PDB 7-Jun-07 578216 12,144.00
PDB 7-Jul-07 578217 12,144.00
PDB 7-Aug-07 578218 12,144.00
PDB 7-Sep-07 578219 12,144.00
PDB 7-Oct-07 578220 12,144.00

TOTAL ###

Toyota Pasong Tamo Inc. CBC 7-Jan-07 883774 2,817.09

Insurance CBC 7-Feb-07 883775 2,817.09

TOTAL 5,634.18

Toyota Avanza Amortization PDB 23-Jan-07 578236 15,048.00 6861

PDB 23-Feb-07 578237 15,048.00 6861
PDB 23-Mar-07 578238 15,048.00 6861
PDB 23-Apr-07 578239 15,048.00 6861
PDB 23-May-07 578240 15,048.00 6861
PDB 23-Jun-07 578241 15,048.00 6861
PDB 23-Jul-07 578242 15,048.00 6861
PDB 23-Aug-07 578243 15,048.00 6861
PDB 3-Sep-07 578244 15,048.00 6861
PDB 23-Oct-07 578245 15,048.00 6861
PDB 23-Nov-07 578246 15,048.00 6861
PDB 23-Dec-07 578247 15,048.00 6861

TOTAL ###

RAMON LIWAG CBC Jan-07 962724 1,500.00 6797

Parking Rental CBC Feb-07 962725 1,500.00 6797
CBC Mar-07 962726 1,500.00 6797
CBC Apr-07 962727 1,500.00 6797
CBC May-07 962728 1,500.00 6797
CBC Jun-07 962729 1,500.00 6797
CBC Jul-07 976808 1,500.00 7328
CBC Aug-07 976809 1,500.00 7328
CBC Sep-07 976810 1,500.00 7328
CBC Oct-07 976811 1,500.00 7328
CBC Nov-07 976812 1,500.00 7328
CBC Dec-07 976813 1,500.00 7328

total 18,000.00

RAMON LIWAG CBC Jan-07 962718 17,000.00 6796

Office Rental CBC Feb-07 962719 17,000.00 6796
CBC Mar-07 962720 17,000.00 6796
CBC Apr-07 962721 17,000.00 6796
CBC May-07 962722 17,000.00 6796
CBC Jun-07 962723 17,000.00 6796
CBC Jul-07 976802 17,000.00 7327
CBC Aug-07 976803 17,000.00 7327
CBC Sep-07 976804 17,000.00 7327
CBC Oct-07 976805 17,000.00 7327
CBC Nov-07 976806 17,000.00 7327
CBC Dec-07 976807 17,000.00 7327

total ###

Ruben S. Correa BDO 31-Dec-07 414824 400,000.00 6972

BDO 31-Dec-07 414825 400,000.00 6972
BDO 31-Dec-07 414826 400,000.00 6972
BDO 31-Dec-07 414827 96,000.00 6973

total ###