Contents - MiTAC
Contents - MiTAC
Contents - MiTAC
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The prices that the Company and third region subsidiaries sales to Mainland China<br />
subsidiaries are negotiated based on the product cost plus other necessary cost . The<br />
collection period is 150 days after offsetting certain receivables and payables<br />
according to the payment terms.<br />
The prices that third region subsidiaries sales to Mainland China subsidiaries are<br />
negotiated based on the product cost plus other necessary cost . The collection period<br />
is 150 days after offsetting certain receivable and payables according to payment<br />
terms.<br />
The prices that the Company and third region subsidiaries sales to ordinary suppliers<br />
are negotiated based on local market value. The collection period is approximately 90<br />
days from shipping date.<br />
As of December 31, 2003 and 2002, the unrealized inter-company gain due to down<br />
stream sales is $0 and $45,488, respectively.<br />
3) Property transactions:<br />
In 2003 and 2002, the Company sold equipments to third region subsidiaries<br />
amounted to $1,902 and $156,184, respectively. The total disposal gain was<br />
$305 and $5,873, respectively.<br />
4) Accounts receivable:<br />
The Company from third region investees:<br />
2003 2002<br />
MITAC Pacific (H.K.) Ltd. $ - $ 55,380<br />
Third region subsidiaries from Mainland China subsidiaries:<br />
2003 2002<br />
MITAC Computer (Shunde) Corp. $ - $ -<br />
MITAC Computer (Shang Hai) Co., Ltd. - -<br />
$ - $ -<br />
The Company from Mainland China subsidiaries:<br />
2003 2002<br />
MITAC Computer (Shunde) Corp. $ - $ 401,804<br />
MITAC Computer (Kunshan) Co., Ltd. 430,617 491,793<br />
MITAC Computer (Shang Hai) Co., Ltd. - -<br />
MITAC Computers System (Shunde) Ltd. 75,548 -<br />
$ 506,165 $ 893,597<br />
5) Accounts payable:<br />
The Company from Mainland China subsidiaries:<br />
2003 2002<br />
MITAC Computer (Shunde) Corp. $ 803,537 $ -<br />
6) Loans to third region and Mainland China subsidiaries: None.<br />
7) The endorsements and guarantees provided by the Company to Mainland China<br />
subsidiaries:<br />
i) As of December 31, 2003 and 2002, the Company guaranteed and endorsed the<br />
bank loans of MITAC Computer (Shunde) Corp. through Silver Star<br />
Developments Ltd. amounted to $575,700 and $594,600, respectively.<br />
iii) As of December 31, 2003 and 2002, the Company guaranteed and endorsed the<br />
bank loans of MITAC Computer (Kunshan) Co., Ltd. through Silver Star<br />
Developments Ltd. amounted to $272,625 and $100,625, respectively.<br />
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