Our endeavour is to enhance Stakeholders' Value - Uflex Ltd.

DIRECTOR’S FLEX AMERICA REPORT INC.
J. Muller & Company
16 Chestnut Street
Suff ern. NY 10901
(845) 357-2744
To the Board of Directors and Stockholder
Flex America, Inc.
14300 Cornerstone Village Dr. Suite #121
Houston, TX 77014
INDEPENDENT AUDITORS’ REPORT
UFLEX LIMITED
We have audited the accompanying balance sheets of Flex America, Inc. (a North Carolina corporation), as of March 31, 2009 and
2008, and the related statements of operations, changes in stockholder’s equity, and cash fl ows for the year then ended. These
fi nancial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these
fi nancial statements based on our audit.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the fi nancial
statements. An audit also includes assessing the accounting principles used and signifi cant estimates made by management, as well
as evaluating the overall fi nancial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the fi nancial statements referred to above present fairly, in all material respects, the fi nancial position of Flex America,
Inc., as of March 31,2009 and 2008, and the results of its operations and its cash fl ows for the years then ended, in conformity with
accounting principles generally accepted in the United States of America.
Our audit was conducted for the purpose of forming an opinion on the basic fi nancial statements taken as a whole. The information
contained in Schedule 1 is presented for purposes of additional analysis and is not a required part of the basic fi nancial statements,
but is supplementary information. Such information has been subjected to the auditing procedures applied in the audit of the basic
fi nancial statements and, in our opinion, is fairly stated in all material respects in relation to the basic fi nancial statements taken as
a whole.
John G. Muller
May 15, 2009
TWENTIETH ANNUAL REPORT 2008 - 2009
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