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© 1997-2006
Gareth Knight
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Here is a Securities and Exchange Commission form filled out by Lotus Pacific for the 4th quarter of 1997. It contains some interesting information regarding their plans for their new Amiga systems.


Quarterly Report (SEC form 10-Q)

Management's Discussion and Analysis of Financial Condition and Results of Operations

1. Results of Operations

Regent, a subsidiary of the Company, started to market Wonder TV A6000 offshore and particularly in China in the last quarter. Wonder TV A6000 is an Amiga technology based multimedia and multi-functional TV set top box developed by Regent. It features an all-in-one box system with combined functions of a multimedia personal computer, a fax machine, a Karaoke machine, an Internet box, an audio CD player, a video CD player and an electronic game machine.

In August 1997, Regent signed an agreement with Shanghai Dingqiu International Trade Co., Ltd. ("Shanghai Dingqiu"), a public company in Shanghai, China, under which the two companies agreed to work together in manufacturing and marketing of Wonder TV A6000. According to the agreement, Shanghai Dingqiu will order 300,000 sets of chips and parts at the price $86 per set for assembling Wonder TV A6000 from Regent before the end of December 1998. Shanghai Dingqiu is responsible for assembling and marketing of the product in China. Regent agreed to provide Shanghai Dingqiu with all the necessary technical support while holding all patents and copyrights relating to Wonder TV A6000. In addition, Shanghai Dingqiu agreed to pay Regent $1,000,000 annually as compensation for the use of the related patent, and the first annual payment in the amount of $1,000,000 was made in August 1997.

Richtime Far East Ltd., a whole subsidiary of the Company incorporated and operated in Hong Kong, had a total sales of $1.697 million and a net income of $157,000 for the quarter ended September 30, 1997. Richtime is in the business of import and export in garment. It receives customer orders mainly from North America, and contracts the orders to garment manufacturers in Nanjing and other eastern coast cities of China.

2. Liabilities and Capital Resources

On September 18, 1997, the Company entered into an Equity Exchange Agreement with Rightiming Electronics Corp., wherein the Company issued 6,000,000 shares of common stock of the Company with a par value of $0.001 per share to Rightiming Electronics Corp. in exchange for 6,000,000 shares of common stock of Regent Electronics Corp. that were owned by Rightiming Electronics Corp. The Equity Exchange Agreement has substantially increased the company's ownership of Regent Electronics Corp. from 70% to 92.3%. The company also issued 72,000 shares of common stock with par value of $0.001 per share to an individual of California on July 31, 1997 for an aggregate consideration of $216,000.As of September 30, 1997, the Company had outstanding 46,809,054 shares of Common Stock, par value $.001 per share and 4,300 shares of Series A Preferred Stock.




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