8-K/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

(Amendment No. 1)

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  February 5, 2010

RODOBO INTERNATIONAL, INC.

(Exact name of registrant as specified in its charter)

Nevada	000-50340	75-2980786
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

380 Changjiang Road, Nangang District,

Harbin, PRC, 150001

 (Address of principal executive offices)

Registrant’s telephone number, including area code:

011-86-451-82260522

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS.

This Amendment No. 1 on Form 8-K/A (“Amendment No. 1”) amends and supplements the Current Report on Form 8-K of Rodobo International, Inc., a Nevada corporation (the “Company”), filed with the Securities and Exchange Commission (the “Commission”) on February 9, 2010 (the “Initial Form 8-K”) to disclose the acquisition of 100% of the equity interests in each of the three following dairy companies which are all located in the People’s Republic of China, through the mergers of Ewenkeqi Beixue Dairy Co., Ltd ( “Ewenkeqi Beixue” ), Hulunbeier Beixue Dairy Co., Ltd (“Hulunbeier Beixue”), and Hulunbeier Hailaer Beixue Dairy Factory (“Hulunbeier Hailaer Beixue”), with and into the Company’s wholly owned subsidiary Harbin Tengshun Technical Development Co., Ltd.  (“Tengshun Tech”) pursuant to Equity Transfer Agreements entered into on February 5, 2010 by and between Tengshun Tech and each of Ewenkeqi Beixue, Hulunbeier Beixue and Hulunbeier Hailaer Beixue (the “Equity Transfer Agreements”).

This Amendment No. 1 amends and supplements the Initial Form 8-K, to include the audited and unaudited historical financial statements of Ewenkeqi Beixue, Hulunbeier Beixue and Hulunbeier Hailaer Beixue as required by Item 9.01(a) of Form 8-K and the unaudited pro forma condensed combined financial data as required by Item 9.01(b) of Form 8-K. The foregoing description of the transactions consummated pursuant to the Equity Transfer Agreements does not purport to be complete and is qualified in its entirety by reference to the full text thereof, which were filed as Exhibits 10.1, 10.2 and 10.3 to the Initial Form 8-K, and are incorporated herein by reference.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

(a)  Financial Statements of Business Acquired.

The required audited financial statements of Ewenkeqi Beixue, Hulunbeier Beixue, and Hulunbeier Hailaer Beixue, each as of September 30, 2009 and for the years ended September 30, 2009 and 2008 are attached hereto as Exhibits 99.1, 99.3 and 99.5, respectively, and are incorporated in their entirety herein by reference. The required unaudited condensed interim financial statements of Ewenkeqi Beixue, Hulunbeier Beixue, and Hulunbeier Hailaer Beixue each as of December 31, 2009 and each for the three months ended December 31, 2009 and 2008 are attached hereto as Exhibits 99.2, 99.4 and 99.6, respectively, and are incorporated in their entirety herein by reference.

(b)  Pro Forma Financial Information.

The required unaudited pro forma condensed combined financial data as of and for the three months ended December 31, 2009 and for the year ended September 30, 2009 is attached hereto as Exhibit 99.7 and is incorporated in its entirety herein by reference.

(d) Exhibits.

Exhibit No. Description

99.1  Audited financial statements of Ewenkeqi Beixue Dairy Co., Ltd. as of and for the years ended September 30, 2009 and 2008, and Report of Independent Auditors therein.

99.2  Unaudited condensed interim financial statements of Ewenkeqi Beixue Dairy Co., Ltd. as of December 31, 2009 and for the three months ended December 31, 2009 and 2008.

99.3  Audited financial statements of Hulunbeier Beixue Dairy Co., Ltd. as of and for the years ended September 30, 2009 and 2008, and Report of Independent Auditors therein.

99.4  Unaudited condensed interim financial statements of Hulunbeier Beixue Dairy Co., Ltd. as of December 31, 2009 and for the three months ended December 31, 2009 and 2008.

99.5  Audited financial statements of Hulunbeier Hailaer Beixue Dairy Factory as of and for the years ended September 30, 2009 and 2008, and Report of Independent Auditors therein.

99.6  Unaudited condensed interim financial statements of Hulunbeier Hailaer Beixue Dairy Factory as of December 31, 2009 and for the three months ended December 31, 2009 and 2008.

99.7  The unaudited pro forma condensed combined balance sheet as of December 31, 2009, the unaudited pro forma condensed combined  statement of income for the three month period ended December 31, 2009, the unaudited pro forma condensed combined  statement of income for the year ended September 30, 2009 and the notes to the unaudited pro forma condensed combined  financial statements of Rodobo International, Inc. and its subsidiaries.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

Rodobo International, Inc
By:	/s/ Yanbin Wang
Name:	Yanbin Wang
Title:	Chairman and Chief Executive Officer

Dated: April 13, 2010

EX-99.1

Exhibit 99.1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders Ewenkeqi Beixue Dairy Co., Ltd

We have audited the accompanying balance sheets of Ewenkeqi Beixue Dairy Co., Ltd as of September 30, 2009 and 2008, and the related statements of operations, cash flows and stockholders' equity for each of the years in the two year periods ended September 30, 2009. Company's management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of September 30, 2009 and 2008, and the results of their operations and their cash flows for each of the years in the two year periods ended September 30, 2009 in conformity with accounting principles generally accepted in the United States of America.

/s/ Friedman LLP

Marlton, NJ

April 7, 2010

F-1

EWENKEQI BEIXUE DAIRY CO., LTD.

BALANCE SHEETS

	As of September 30,
	2009			2008
ASSETS
Current assets:
Cash and cash equivalents	$	15,513		$	48,257
Accounts receivable		-			3,136
Due from related parties		1,003,066			1,002,950
Inventories		121,200			162,858
Prepaid expenses		-			154,247
Total current assets		1,139,779			1,371,448
Property, plant and equipment, net		1,462,004			1,526,150
Other assets:
Loan to shareholders		1,386,648			-
Total assets	$	3,988,431		$	2,897,598
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	31,322		$	32,963
Short-term loan		-			294,555
Other payable		3,371			2,806
Accrued expenses		20,402			50,360
Due to related parties		1,778,218			1,777,215
Total current liabilities		1,833,313			2,157,899
Shareholders' equity
Registered capital		60,412			60,412
Additional paid in capital		2,325,485			863,688
Accumulated deficits		(397,744	)		(352,248	)
Accumulated other comprehensive income		166,965			167,845
Total shareholders' equity		2,155,118			739,698
Total liabilities and shareholders' equity	$	3,988,431		$	2,897,598

F-2

The accompanying notes are an integral part of these financial statements

EWENKEQI BEIXUE DAIRY CO., LTD.

STATEMENTS OF OPERATIONS

	For The Years Ended September 30,
	2009			2008
Revenue:
Related party revenue	$	63,133		$	38,508
Non-related party revenue		-			555,412
Total revenue		63,133			593,921
Cost of goods sold		89,933			609,176
Gross profit (loss)		(26,800	)		(15,255	)
Operating expenses:
Distribution expenses		-			33,963
General and administrative expenses		5,252			86,684
Total operating expenses		5,252			120,647
Operating loss		(32,052	)		(135,903	)
Other expenses		13,444			11,832
Loss before income taxes		(45,496	)		(147,735	)
Provision for income taxes		-			-
Net loss	$	(45,496	)	$	(147,735	)
Other comprehensive loss:
Foreign currency translation adjustment		(880	)		79,666
Comprehensive loss	$	(46,376	)	$	(68,069	)
Loss per share
Basic and diluted	$	(0.09	)	$	(0.30	)
Weighted average shares outstanding
Basic and diluted		500,000			500,000

F-3

The accompanying notes are an integral part of these financial statements

EWENKEQI BEIXUE DAIRY CO., LTD.

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

	Registered		Additional		Accumulated			Accumulated Other
	Capital		Paid in Capital		Deficits			Comprehensive Income			Total
Balance at September 30, 2007	$	60,412	$	863,689	$	(204,513	)	$	88,179		$	807,767
Net loss for the year		-		-		(147,735	)		-			(147,735	)
Foreign currency translation gain		-		-		-			79,666			79,666
Balance at September 30, 2008	$	60,412	$	863,689	$	(352,248	)	$	167,845		$	739,698
Additional paid in capital		-		1,461,796		-			-			1,461,796
Net loss for the year		-		-		(45,496	)		-			(45,496	)
Foreign currency translation loss		-		-		-			(880	)		(880	)
Balance at September 30, 2009	$	60,412	$	2,325,485	$	(397,744	)	$	166,965		$	2,155,118

F-4

The accompanying notes are an integral part of these financial statements

EWENKEQI BEIXUE DAIRY CO., LTD.

STATEMENTS OF CASH FLOWS

	For The Years Ended September 30,
	2009			2008
Cash flows from operating activities
Net loss	$	(45,496	)	$	(147,735	)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization		55,937			107,725
Changes in assets and liabilities:
(Increase) decrease in -
Accounts receivables		3,116			141,200
Inventories		40,742			(80,877	)
Prepaid expenses		153,248			(147,564	)
Increase (decrease) in -
Accounts payable and other payable		(884	)		(864,629	)
Accrued expenses		(29,655	)		(31,115	)
Net cash provided by (used in) operating activities		177,008			(1,022,995	)
Cash flows from investing activities
Loan to shareholders		(1,385,061	)		-
Loan to related parties		(5,462	)		(837,944	)
Net cash used in investing activities		(1,390,523	)		(837,944	)
Cash flows from financing activities
Repayment of short-term loan		(292,648	)		(112,717	)
Proceeds from shareholder loans		1,463,238			-
Proceeds from related party loans		10,475			1,700,209
Net cash provided by financing activities		1,181,065			1,587,493
Effect of exchange rate changes on cash and cash equivalents		(294	)		19,883
Net decrease in cash and cash equivalents		(32,744	)		(253,564	)
Cash and cash equivalents, beginning of year		48,257			301,821
Cash and cash equivalents, end of year	$	15,513		$	48,257
Supplemental disclosures of cash flow information:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-
Non-cash financing activities:
Shareholder loans converted to equity	$	1,461,796		$	-

F-5

The accompanying notes are an integral part of these financial statements

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

1.   ORGANIZATION AND BASIS OF PRESENTATION

Ewenkeqi Beixue Dairy Co., Ltd. (the "Company"), established on April 27, 2005 under the laws of the People’s Republic of China (“PRC” or “China”), is engaged in the production, processing, distribution and development of powdered milk products in the PRC.

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES - The preparation of financial statements in accordance with generally accepted accounting principles require management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

RISKS OF LOSSES - The Company is potentially exposed to risks of losses that may result from business interruptions, injury to others (including employees) and damage to property.  These losses may be uninsured, especially due to the fact that the Company's operations are in China, where business insurance is not readily available.  If: (i) information is available before the Company's financial statements are issued or are available to be issued indicates that such loss is probable and (ii) the amount of the loss can be reasonably estimated, an estimated loss will be accrued by a charge to income.  If such loss is probable but the amount of loss cannot be reasonably estimated, the loss shall be charged to the income of the period in which the loss can be reasonably estimated and shall not be charged retroactively to an earlier period.  As of September 30, 2009 and 2008, the Company has not experienced any uninsured losses from injury to others or other losses.

SUBSEQUENT EVENTS - The Company has evaluated subsequent events that have occurred through the filing date and disclosed it in note 9.

CASH AND CASH EQUIVALENTS - The Company considers cash and cash equivalents to include cash on hand and deposits with banks with an original maturity of three months or less.

ACCOUNTS RECEIVABLE - The Company's policy is to maintain reserves for potential credit losses on accounts receivable. Provision is made against accounts receivable to the extent which they are considered to be doubtful. Accounts receivable in the balance sheet is stated net of such provision.

F-6

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INVENTORIES - Inventories comprise raw materials, work in progress, finished goods and packing materials and are stated at the lower of cost or market value. Cost is calculated using the weighted average method and includes all costs to acquire and any overhead costs incurred in bringing the inventories to their present location and condition. Overhead costs included in finished goods inventory include direct labor cost and other costs directly applicable to the manufacturing process, including utilities, supplies, repairs and maintenances, and depreciation expense. Market value represents the estimated selling price in the ordinary course of business less the estimated costs necessary to complete the sale. Management compares the cost of inventory with market value and an allowance is made for writing down the inventory to its market value, if lower.  Management writes off obsolete inventory when it occurs.

PROPERTY, PLANT AND EQUIPMENT - Property, plant and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property, plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets on a straight-line basis. The estimated useful lives for significant property, plant and equipment categories are as follows:

Building	30 years
Machinery, equipment and automobiles	5-10 years

Construction in progress represents the direct costs of construction or acquisition incurred. Upon completion and readiness for use of the assets, capitalization of these costs ceases and the cost of construction in progress is transferred to fixed assets. No depreciation is provided until the project is completed and the assets are ready for intended use.

The Company periodically reviews the carrying value of long-lived assets in accordance with ASC 360, “Property, Plant, and Equipment”. When estimated future cash flows generated by those assets are less than the carrying amounts of the assets, the Company recognizes an impairment loss equal to the amount by which the carrying value exceeded the fair value of assets. Based on its review, the Company has determined that there were no impairments of its long-lived assets as of September 30, 2009.

REVENUE RECOGNITION - The Company's revenue recognition policies are in compliance with ASC 605. Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured.

EMPLOYEE BENEFIT COSTS - Mandatory contributions are made to the Chinese Government’s health, retirement benefit and unemployment schemes at the statutory rates in force during the period, based on gross salary payments. The cost of these payments is charged to the statement of income in the same period as the related salary cost.

F-7

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

COMPREHENSIVE INCOME (LOSS) – Comprehensive income (loss) is defined to include changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, items that are required to be recognized under current accounting standards as components of comprehensive income (loss) are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Comprehensive income (loss) includes net income (loss) and the foreign currency translation gain, net of tax.

EARNINGS (LOSS) PER SHARE – The Company computes earnings (loss) per share in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted earnings (loss) per share. Basic earnings (loss) per share is measured as net income divided by the weighted average common shares outstanding for the period. Diluted earnings (loss) per share is similar to basic earnings (loss) per share but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings (loss) per share.

TAXATION - - The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

FOREIGN CURRENCY TRANSLATION - The Company's principal country of operations is the PRC. The financial position and results of operations of the Company are determined using the local currency ("RMB") as the functional currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated Other Comprehensive Income".

F-8

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

FAIR VALUE OF FINANCIAL INSTRUMENTS - The carrying amounts of certain financial instruments, including cash, accounts receivable, other receivables, accounts payable, accrued expenses, advances from customers, and other payables approximate their fair values as of September 30, 2009 and 2008 due to the relatively short-term nature of these instruments.

CONCENTRATIONS OF BUSINESS AND CREDIT RISK - The Company maintains certain bank accounts in the PRC which are not protected by insurance.

The Company's operations are carried out in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC and the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in the North America and Western Europe. The Company's operating results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

NEW ACCOUNTING PRONOUNCEMENTS – In January 2010, FASB issued ASU No. 2010-06 – Improving Disclosures about Fair Value Measurements. This update provides amendments to Subtopic 820-10 that requires new disclosure as follows: 1) Transfers in and out of Levels 1 and 2.  A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.  2)  Activity in Level 3 fair value measurements.  In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number). This update provides amendments to Subtopic 820-10 that clarifies existing disclosures as follows: 1) Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities. 2) Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU, however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-9

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In January 2010, FASB issued ASU No. 2010-02 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a Scope Clarification. The amendments in this Update affect accounting and reporting by an entity that experiences a decrease in ownership in a subsidiary that is a business or nonprofit activity. The amendments also affect accounting and reporting by an entity that exchanges a group of assets that constitutes a business or nonprofit activity for an equity interest in another entity.  The amendments in this update are effective beginning in the period that an entity adopts SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements – An Amendment of ARB No. 51.” If an entity has previously adopted SFAS No. 160 as of the date the amendments in this update are included in the Accounting Standards Codification, the amendments in this update are effective beginning in the first interim or annual reporting period ending on or after December 15, 2009. The amendments in this update should be applied retrospectively to the first period that an entity adopted SFAS No. 160. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In January 2010, FASB issued ASU No. 2010-01- Accounting for Distributions to Shareholders with Components of Stock and Cash. The amendments in this Update clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in EPS prospectively and is not a stock dividend for purposes of applying Topics 505 and 260 (Equity and Earnings Per Share). The amendments in this update are effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-10

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In December 2009, FASB issued ASU No. 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R). The amendments in this Accounting Standards Update replace the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which reporting entity has the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. An approach that is expected to be primarily qualitative will be more effective for identifying which reporting entity has a controlling financial interest in a variable interest entity. The amendments in this Update also require additional disclosures about a reporting entity’s involvement in variable interest entities, which will enhance the information provided to users of financial statements. The Company is currently evaluating the impact of this ASU; however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In December 2009, FASB issued ASU No. 2009-16, Accounting for Transfers of Financial Assets. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140.The amendments in this Accounting Standards Update improve financial reporting by eliminating the exceptions for qualifying special-purpose entities from the consolidation guidance and the exception that permitted sale accounting for certain mortgage securitizations when a transferor has not surrendered control over the transferred financial assets. In addition, the amendments require enhanced disclosures about the risks that a transferor continues to be exposed to because of its continuing involvement in transferred financial assets. Comparability and consistency in accounting for transferred financial assets will also be improved through clarifications of the requirements for isolation and limitations on portions of financial assets that are eligible for sale accounting. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In October 2009, the FASB issued an ASU regarding accounting for own-share lending arrangements in contemplation of convertible debt issuance or other financing.  This ASU requires that at the date of issuance of the shares in a share-lending arrangement entered into in contemplation of a convertible debt offering or other financing, the shares issued shall be measured at fair value and be recognized as an issuance cost, with an offset to additional paid-in capital. Further, loaned shares are excluded from basic and diluted earnings per share unless default of the share-lending arrangement occurs, at which time the loaned shares would be included in the basic and diluted earnings-per-share calculation.  This ASU is effective for fiscal years beginning on or after December 15, 2009, and interim periods within those fiscal years for arrangements outstanding as of the beginning of those fiscal years. The Company is currently evaluating the impact of this ASU on its financial statements.

F-11

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In August 2009, the FASB issued an Accounting Standards Update (“ASU”) regarding measuring liabilities at fair value. This ASU provides additional guidance clarifying the measurement of liabilities at fair value in circumstances in which a quoted price in an active market for the identical liability is not available; under those circumstances, a reporting entity is required to measure fair value using one or more of valuation techniques, as defined. This ASU is effective for the first reporting period, including interim periods, beginning after the issuance of this ASU. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In June 2009, the FASB issued ASC 105,  “The FASB Accounting Standards Codification TM and the Hierarchy of Generally Accepted Accounting Principles – a replacement of FASB Statement No. 162”. The FASB Accounting Standards Codification TM (“Codification”) will become the source of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. On the effective date of ASC 105, the Codification will supersede all then-existing non-SEC accounting and reporting standards. All other nongrandfathered non-SEC accounting literature not included in the Codification will become nonauthoritative. ASC 105 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. Adoption of ASC 105 did not have a material impact on the Company’s results of operations or financial position.

In June 2009, the FASB issued ASC 810, “Amendments to FASB Interpretation No. 46(R)” to improve financial reporting by enterprises involved with variable interest entities. ASC 810 addresses (1) the effects on certain provisions of FASB Interpretation No. 46 (revised December 2003), “Consolidation of Variable Interest Entities”, as a result of the elimination of the qualifying special-purpose entity concept in SFAS No. 166 and (2) concerns about the application of certain key provisions of FIN 46(R), including those in which the accounting and disclosures under the Interpretation do not always provide timely and useful information about an enterprise’s involvement in a variable interest entity. ASC 810 will be effective as of the beginning of each reporting entity’s first annual reporting period that begins after November 15, 2009, for interim periods within the first annual reporting period, and for interim and annual reporting periods thereafter. Earlier application is prohibited. The Company does not expect the adoption of ASC 810 to have a material impact on the Company’s results of operations or financial position.

In May 2009, the FASB issued ASC 855, “Subsequent Events”, (“ASC 855”) which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. An entity should apply the requirements of ASC 855 to interim or annual financial periods ending after June 15, 2009. Adoption of ASC 855 did not have a material impact on the Company’s results of operations or financial position.

F-12

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

3.   INVENTORIES

Inventories consist of the following as of September 30, 2009 and 2008:

	September 30, 2009		September 30, 2008
Raw materials	$	94,038	$	96,068
Finished goods		27,162		66,790
Total inventories	$	121,200	$	162,858

4.   FIXED ASSETS

Fixed assets consist of the following as of September 30, 2009 and 2008:

	September 30, 2009			September 30, 2008
Building	$	955,981		$	961,110
Plant and machinery		807,000			811,330
		1,762,981			1,772,440
Less: accumulated depreciation		(300,977	)		(246,290	)
Total fixed assets, net	$	1,462,004		$	1,526,150

Depreciation expense was $55,937 and $107,725 for the years ended September 30, 2009 and 2008, respectively.

5.   RELATED PARTY TRANSACTIONS

As of September 30, 2009, the Company had $1,386,648 loan to shareholders, $1,003,066 due from related party, Hulunbeier Beixue Dairy Co., Ltd. and $1,778,218 due to related party, Hulunbeier Hailaer Beixue Dairy Factory. As of September 30, 2008, the Company had $1,002,950 due from related party, Hulunbeier Beixue Dairy Co., Ltd., and $1,777,215 due to related party, Hulunbeier Hailaer Beixue Dairy Factory. The amounts are unsecured, non-interest bearing and due on demand.

The Company sold raw materials and products to Hulunbeier Hailaer Beixue Dairy Factory. The related party sales totaled $63,133 and $38,508 for the year ended September 30, 2009 and 2008, respectively.

6.   SHAREHOLDERS’ EQUITY

The Company’s registered capital is RMB 500,000 (approximately US$60,412). The industry practice in PRC does not require the issuance of stock certificates to the shareholders, nor a third party transfer agent to maintain the records. For the purpose of financial reporting, the Company elected to designate one (1) common share for each RMB contributed. Accordingly, there were a total of 500,000 shares issued and outstanding as of September 30, 2008 and 2009.

F-13

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

7.   INCOME TAXES

Under the Income Tax Laws of the PRC, the Company is generally subject to tax at a statutory rate of 25% and was, until January 2008, subject to tax at a statutory rate of 33% (30% state income taxes plus 3% local income taxes) on its taxable income.

Due to the net losses incurred, no income tax expense was accrued for the years ended September 30, 2009 and 2008. The net operating loss carry-forwards may be available to reduce future years’ taxable income and will expire in 2014. The Company intends to obtain preferential tax treatment of a three-year tax holiday for full Enterprise Income Tax exemption and therefore does not expect the realization of the benefits arising from these operating losses. Accordingly, the Company has provided a 100% valuation allowance at September 30, 2009 and 2008 for the temporary differences related to loss carry-forwards. Management reviews this valuation allowance periodically and makes adjustments as warranted.

The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of September 30, 2009 and 2008 are as follows:

	As of September 30,
	2009			2008
Deferred tax assets:
Net operating loss carry forward	$	48,308		$	36,934
Less: valuation allowance		(48,308	)		(36,934	)
Net deferred tax assets	$	-		$	-

8.   MAJOR CUSTOMERS

The Company had only one major customer, Hulunbeier Hailaer Beixue Dairy Factory (“Hailaer Beixue”), for the year ended September 30, 2009 with sales of $63,133, accounting for 100% of total sales for the fiscal year. Sales to Hailaer Bexixue. was $17,880 for the year ended September 30, 2008, approximately 3% of total sales for the fiscal year. There are no other major customers with individual sales over 10% of total sales. Accounts receivable from Hailaer Beixue was zero as of September 30, 2009 and 2008.

F-14

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

9.   SUBSEQUENT EVENT

On February 5, 2010, the Company entered into an Equity Transfer Agreement (“Agreement”) with Tengshun Technology and Development Co., Ltd. (“Tengshun Technology”), a wholly-owned subsidiary of Rodobo International, Inc. (“Rodobo”), a public company traded on the OTC Bulletin Board. Pursuant to the Agreement, Tengshun Technology agreed to acquire 100% of the equity interest in the Company for a cash payment of RMB500,000 (approximately $73,236) and 800,000 shares of Rodobo’s common stock.

F-15

EX-99.2

Exhibit 99.2

EWENKEQI BEIXUE DAIRY CO., LTD.

BALANCE SHEETS

	December 31,			September 30,
	2009			2009
	(Unaudited)			(Audited)
ASSETS
Current assets:
Cash and cash equivalents	$	15,762		$	15,513
Due from related parties		-			1,003,066
Inventories		26,471			121,200
Total current assets		42,233			1,139,779
Property, plant and equipment, net		1,461,856			1,462,004
Other assets:
Loan to shareholders		1,655,624			-
Total assets	$	3,159,713		$	2,601,783
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	31,320		$	31,322
Other payable		3,548			3,371
Accrued expenses		20,400			20,402
Loan from shareholders		-			391,569
Due to related parties		951,055			-
Total current liabilities		1,006,322			446,664
Shareholders' equity
Registered capital		60,412			60,412
Additional paid in capital		2,325,484			2,325,484
Accumulated deficits		(399,253	)		(397,744	)
Accumulated other comprehensive income		166,747			166,965
Total shareholders' equity		2,153,390			2,155,117
Total liabilities and shareholders' equity	$	3,159,713		$	2,601,782

The accompanying notes are an integral part of these financial statements

F-1

EWENKEQI BEIXUE DAIRY CO., LTD.

STATEMENTS OF OPERATIONS

(UNAUDITED)

	For The Three Months Ended December 31
	2009			2008
Net sales	$	-		$	-
Cost of goods sold		-			-
Gross profit		-			-
Operating expenses:
Distribution expenses		-			-
General and administrative expenses		1,509			37,031
Total operating expenses		1,509			37,031
Operating loss		(1,509	)		(37,031	)
Other expenses		-			13,434
Loss before income taxes		(1,509	)		(50,465	)
Provision for income taxes		-			-
Net loss	$	(1,509	)	$	(50,465	)
Other comprehensive loss:
Foreign currency translation adjustment		(218	)		(3,660	)
Comprehensive loss	$	(1,727	)	$	(54,125	)
Loss per share
Basic and diluted	$	(0.00	)	$	(0.10	)
Weighted average shares outstanding
Basic and diluted		500,000			500,000

The accompanying notes are an integral part of these financial statements

F-2

EWENKEQI BEIXUE DAIRY CO., LTD.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For The Three Months Ended December 31,
	2009			2008
Cash flows from operating activities
Net loss	$	(1,509	)	$	(50,465	)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization		-			33,536
Changes in assets and liabilities:
(Increase) decrease in -
Accounts receivables		-			(989,496	)
Inventories		94,712			6,925
Prepaid expenses		-			9,843
Increase (decrease) in -
Accounts payable and other payable		177			1,765,896
Accrued expenses		-			(40,357	)
Net cash provided by operating activities		93,380			735,882
Cash flows from investing activities
Repayment from related parties		1,002,910			995,680
Loan to shareholders		(1,655,536	)		-
Net cash (used in) provided by investing activities		(652,626	)		995,680
Cash flows from financing activities
Repayment to shareholders		(391,509	)		-
Repayment to related parties		-			(1,764,334	)
Proceeds from related party loans		951,004			-
Net cash provided by (used in) financing activities		559,495			(1,764,334	)
Effect of exchange rate changes on cash and cash equivalents		(2	)		(312	)
Net increase (decrease) in cash and cash equivalents		249			(33,084	)
Cash and cash equivalents, beginning of period		15,513			48,257
Cash and cash equivalents, end of period	$	15,762		$	15,173
Supplemental disclosures of cash flow information:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

The accompanying notes are an integral part of these financial statements

F-3

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

1.   ORGANIZATION AND BASIS OF PRESENTATION

Ewenkeqi Beixue Dairy Co., Ltd. (the "Company"), established on April 27, 2005 under the laws of the People’s Republic of China (“PRC” or “China”), is engaged in the production, processing, distribution and development of powdered milk products in the PRC.

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they may not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended December 31, 2009 and 2008 are not necessarily indicative of the results that may be expected for the full years.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES - The preparation of financial statements in accordance with generally accepted accounting principles require management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

RISKS OF LOSSES - The Company is potentially exposed to risks of losses that may result from business interruptions, injury to others (including employees) and damage to property.  These losses may be uninsured, especially due to the fact that the Company's operations are in China, where business insurance is not readily available.  If: (i) information is available before the Company's financial statements are issued or are available to be issued indicates that such loss is probable and (ii) the amount of the loss can be reasonably estimated, an estimated loss will be accrued by a charge to income.  If such loss is probable but the amount of loss cannot be reasonably estimated, the loss shall be charged to the income of the period in which the loss can be reasonably estimated and shall not be charged retroactively to an earlier period.  As of December 31, 2009 and 2008, the Company has not experienced any uninsured losses from injury to others or other losses.

SUBSEQUENT EVENTS - The Company has evaluated subsequent events that have occurred through the filing date and disclosed it in note 9.

CASH AND CASH EQUIVALENTS - The Company considers cash and cash equivalents to include cash on hand and deposits with banks with an original maturity of three months or less.

ACCOUNTS RECEIVABLE - The Company's policy is to maintain reserves for potential credit losses on accounts receivable. Provision is made against accounts receivable to the extent which they are considered to be doubtful. Accounts receivable in the balance sheet is stated net of such provision.

F-4

EWENKEQI BEIXUE DAIRY CO.,  LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INVENTORIES - Inventories comprise raw materials, work in progress, finished goods and packing materials and are stated at the lower of cost or market value. Cost is calculated using the weighted average method and includes all costs to acquire and any overhead costs incurred in bringing the inventories to their present location and condition. Overhead costs included in finished goods inventory include direct labor cost and other costs directly applicable to the manufacturing process, including utilities, supplies, repairs and maintenances, and depreciation expense. Market value represents the estimated selling price in the ordinary course of business less the estimated costs necessary to complete the sale. Management compares the cost of inventory with market value and an allowance is made for writing down the inventory to its market value, if lower.  Management writes off obsolete inventory when it occurs.

PROPERTY, PLANT AND EQUIPMENT - Property, plant and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property, plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets on a straight-line basis. The estimated useful lives for significant property, plant and equipment categories are as follows:

Building	30 years
Machinery, equipment and automobiles	5-10 years

Construction in progress represents the direct costs of construction or acquisition incurred. Upon completion and readiness for use of the assets, capitalization of these costs ceases and the cost of construction in progress is transferred to fixed assets. No depreciation is provided until the project is completed and the assets are ready for intended use.

The Company periodically reviews the carrying value of long-lived assets in accordance with ASC 360, “Property, Plant, and Equipment”. When estimated future cash flows generated by those assets are less than the carrying amounts of the assets, the Company recognizes an impairment loss equal to the amount by which the carrying value exceeded the fair value of assets. Based on its review, the Company has determined that there were no impairments of its long-lived assets as of December 31, 2009.

REVENUE RECOGNITION - The Company's revenue recognition policies are in compliance with ASC 605. Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured.

EMPLOYEE BENEFIT COSTS - Mandatory contributions are made to the Chinese Government’s health, retirement benefit and unemployment schemes at the statutory rates in force during the period, based on gross salary payments. The cost of these payments is charged to the statement of income in the same period as the related salary cost.

F-5

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

COMPREHENSIVE INCOME (LOSS) – Comprehensive income (loss) is defined to include changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, items that are required to be recognized under current accounting standards as components of comprehensive income (loss) are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Comprehensive income (loss) includes net income (loss) and the foreign currency translation gain, net of tax.

EARNINGS (LOSS) PER SHARE – The Company computes earnings (loss) per share in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted earnings (loss) per share. Basic earnings (loss) per share is measured as net income divided by the weighted average common shares outstanding for the period. Diluted earnings (loss) per share is similar to basic earnings (loss) per share but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings (loss) per share.

TAXATION - - The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

FOREIGN CURRENCY TRANSLATION - The Company's principal country of operations is the PRC. The financial position and results of operations of the Company are determined using the local currency ("RMB") as the functional currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated Other Comprehensive Income".

F-6

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

FAIR VALUE OF FINANCIAL INSTRUMENTS - The carrying amounts of certain financial instruments, including cash, accounts receivable, other receivables, accounts payable, accrued expenses, advances from customers, and other payables approximate their fair values as of December 31, 2009 and 2008 due to the relatively short-term nature of these instruments.

CONCENTRATIONS OF BUSINESS AND CREDIT RISK - The Company maintains certain bank accounts in the PRC which are not protected by insurance.

The Company's operations are carried out in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC and the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in the North America and Western Europe. The Company's operating results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

NEW ACCOUNTING PRONOUNCEMENTS – In January 2010, FASB issued ASU No. 2010-06 – Improving Disclosures about Fair Value Measurements. This update provides amendments to Subtopic 820-10 that requires new disclosure as follows: 1) Transfers in and out of Levels 1 and 2.  A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.  2)  Activity in Level 3 fair value measurements.  In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number). This update provides amendments to Subtopic 820-10 that clarifies existing disclosures as follows: 1) Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities. 2) Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU, however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-7

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In January 2010, FASB issued ASU No. 2010-02 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a Scope Clarification. The amendments in this Update affect accounting and reporting by an entity that experiences a decrease in ownership in a subsidiary that is a business or nonprofit activity. The amendments also affect accounting and reporting by an entity that exchanges a group of assets that constitutes a business or nonprofit activity for an equity interest in another entity.  The amendments in this update are effective beginning in the period that an entity adopts SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements – An Amendment of ARB No. 51.” If an entity has previously adopted SFAS No. 160 as of the date the amendments in this update are included in the Accounting Standards Codification, the amendments in this update are effective beginning in the first interim or annual reporting period ending on or after December 15, 2009. The amendments in this update should be applied retrospectively to the first period that an entity adopted SFAS No. 160. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In January 2010, FASB issued ASU No. 2010-01- Accounting for Distributions to Shareholders with Components of Stock and Cash. The amendments in this Update clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in EPS prospectively and is not a stock dividend for purposes of applying Topics 505 and 260 (Equity and Earnings Per Share). The amendments in this update are effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-8

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In December 2009, FASB issued ASU No. 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R). The amendments in this Accounting Standards Update replace the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which reporting entity has the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. An approach that is expected to be primarily qualitative will be more effective for identifying which reporting entity has a controlling financial interest in a variable interest entity. The amendments in this Update also require additional disclosures about a reporting entity’s involvement in variable interest entities, which will enhance the information provided to users of financial statements. The Company is currently evaluating the impact of this ASU; however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In December 2009, FASB issued ASU No. 2009-16, Accounting for Transfers of Financial Assets. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140.The amendments in this Accounting Standards Update improve financial reporting by eliminating the exceptions for qualifying special-purpose entities from the consolidation guidance and the exception that permitted sale accounting for certain mortgage securitizations when a transferor has not surrendered control over the transferred financial assets. In addition, the amendments require enhanced disclosures about the risks that a transferor continues to be exposed to because of its continuing involvement in transferred financial assets. Comparability and consistency in accounting for transferred financial assets will also be improved through clarifications of the requirements for isolation and limitations on portions of financial assets that are eligible for sale accounting. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In October 2009, the FASB issued an ASU regarding accounting for own-share lending arrangements in contemplation of convertible debt issuance or other financing.  This ASU requires that at the date of issuance of the shares in a share-lending arrangement entered into in contemplation of a convertible debt offering or other financing, the shares issued shall be measured at fair value and be recognized as an issuance cost, with an offset to additional paid-in capital. Further, loaned shares are excluded from basic and diluted earnings per share unless default of the share-lending arrangement occurs, at which time the loaned shares would be included in the basic and diluted earnings-per-share calculation.  This ASU is effective for fiscal years beginning on or after December 15, 2009, and interim periods within those fiscal years for arrangements outstanding as of the beginning of those fiscal years. The Company is currently evaluating the impact of this ASU on its financial statements.

F-9

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

3.  INVENTORIES

Inventories consist of the following as of December 31, 2009 and September 30, 2009:

	December 31, 2009		September 30, 2009
Raw materials	$	26,471	$	94,038
Finished goods		-		27,163
Total inventories	$	26,471	$	121,200

4.   FIXED ASSETS

Fixed assets consist of the following as of December 31, 2009 and September 30, 2009:

	December 31, 2009			September 30, 2009
Building	$	955,884		$	955,981
Plant and machinery		806,919			807,000
		1,762,803			1,762,981
Less: accumulated depreciation		(300,947	)		(300,977	)
Total fixed assets, net	$	1,461,856		$	1,462,004

As the Company has ceased production since March 2009, there was no depreciation expense for the three months ended December 31, 2009. Depreciation expense was $33,536 for the three months ended December 31, 2008.

5.   RELATED PARTY TRANSACTIONS

During the normal course of the business, the Company, from time to time, temporarily borrows money from its principal shareholders to finance the working capital as needed. The amounts are usually unsecured, non-interest bearing and due on demand. The Company had shareholder loans in the amount of zero and $391,569 as of December 31, 2009 and September 30, 2009, respectively.

As of December 31, 2009, the Company had $1,655,624 loan to shareholders, and $951,055 due to related party, Hulunbeier Hailaer Beixue Dairy Factory.  As of September 30, 2009, the Company had $1,003,066 due from related party, Hulunbeier Beixue Dairy Co., Ltd.

There were no related party sales for the three months ended December 31, 2009 and 2008.

6.   SHAREHOLDERS’ EQUITY

The Company’s registered capital is RMB 500,000 (approximately US$60,412). Two individual shareholders, Honghai Zhang and Fengshun Zhang, owned 60% and 40% of the Company, respectively. On November 2, 2009, Yanbin Wang became a shareholder of the Company and owns 51% of the Company with the remaining 49% owned by Honghai Zhang.

F-10

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

6.   SHAREHOLDERS’ EQUITY (Continued)

The industry practice in PRC does not require the issuance of stock certificates to the shareholders, nor a third party transfer agent to maintain the records. For the purpose of financial reporting, the Company elected to designate one (1) common share for each RMB contributed. Accordingly, there were a total of 500,000 shares issued and outstanding as of December 31, 2009 and September 30, 2009.

7.   INCOME TAXES

Under the Income Tax Laws of the PRC, the Company is generally subject to tax at a statutory rate of 25% and was, until January 2008, subject to tax at a statutory rate of 33% (30% state income taxes plus 3% local income taxes) on its taxable income.

Due to the net loss incurred and loss carry-forwards available from previous years, no income tax expense was accrued for the three months ended December 31, 2009 and 2008. The net operating loss carry-forwards may be available to reduce future years’ taxable income and will expire in 2014. The Company intends to obtain preferential tax treatment of a three-year tax holiday for full Enterprise Income Tax exemption and therefore does not expect the realization of the benefits arising from these operating losses. Accordingly, the Company has provided a 100% valuation allowance at December 31, 2009 for the temporary differences related to loss carry-forwards. Management reviews this valuation allowance periodically and makes adjustments as warranted.

The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of December 31, 2009 are as follows:

Deferred tax assets:
Net operating loss carry forward	$	48,685
Less: valuation allowance		(48,685	)
Net deferred tax assets	$	-

8.   MAJOR CUSTOMERS

The Company has ceased production since March 2009. There were no major customers with individual sales over 10% of total net revenue for the three months ended December 31, 2009 and 2008.

F-11

EWENKEQI BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

9.   SUBSEQUENT EVENT

On February 5, 2010, the Company entered into an Equity Transfer Agreement (“Agreement”) with Tengshun Technology and Development Co., Ltd. (“Tengshun Technology”), a wholly-owned subsidiary of Rodobo International, Inc. (“Rodobo”), a public company traded on the OTC Bulletin Board. Pursuant to the Agreement, Tengshun Technology agreed to acquire 100% of the equity interest in the Company for a cash payment of RMB500,000 (approximately $73,236) and 800,000 shares of Rodobo’s common stock.

F-12

EX-99.3

Exhibit 99.3

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders Hulunbeier Beixue Dairy Co., Ltd

We have audited the accompanying balance sheets of Hulunbeier Beixue Dairy Co., Ltd as of September 30, 2009 and 2008, and the related statements of operations, cash flows and stockholders' equity for each of the years in the two year periods ended September 30, 2009. Company's management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of September 30, 2009 and 2008, and the results of their operations and their cash flows for each of the years in the two year periods ended September 30, 2009 in conformity with accounting principles generally accepted in the United States of America.

/s/ Friedman LLP

Marlton, NJ

April 7, 2010

F-1

HULUNBEIER BEIXUE DAIRY CO., LTD.

BALANCE SHEETS

	As of September 30,
	2009			2008
ASSETS
Current assets:
Cash and cash equivalents	$	5,337		$	8,328
Accounts receivable		164,505			371,614
Inventories		73,755			187,083
Prepaid expenses		16,583			-
Total current assets		260,180			567,025
Property, plant and equipment, net		4,656,548			4,128,126
Intangible assets, net		679,477			698,027
Total assets	$	5,596,205		$	5,393,178
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	13,445		$	-
Other payable		35,235			18,752
Accrued expenses		21,584			227,935
Advances from customers		10,284			-
Loan from shareholders		717,284			1,266,870
Due to related parties		1,754,639			1,217,318
Total current liabilities		2,552,471			2,730,875
Shareholders' equity
Registered capital		129,206			129,206
Additional paid in capital		2,983,184			2,334,104
Accumulated deficits		(211,644	)		(7,802	)
Accumulated other comprehensive income		142,988			206,795
Total shareholders' equity		3,043,734			2,662,303
Total liabilities and shareholders' equity	$	5,596,205		$	5,393,178

The accompanying notes are an integral part of these financial statements

F-2

HULUNBEIER BEIXUE DAIRY CO., LTD.

STATEMENTS OF OPERATIONS

	For the Years Ended September 30,
	2009			2008
Net sales	$	424,798		$	5,799,981
Cost of goods sold		586,387			5,591,603
Gross profit (loss)		(161,589	)		208,378
Operating expenses:
Distribution expenses		5,242			120,685
General and administrative expenses		27,339			52,640
Total operating expenses		32,581			173,325
Operating (loss) income		(194,170	)		35,053
Other expenses		9,672			6,861
(Loss) income before income taxes		(203,842	)		28,192
Provision for income taxes		-			7,079
Net (loss) income	$	(203,842	)	$	21,113
Other comprehensive (loss) income:
Foreign currency translation adjustment		(63,806	)		184,236
Comprehensive (loss) income	$	(267,648	)	$	205,349
(Loss) earnings per share
Basic and diluted	$	(0.20	)	$	0.02
Weighted average shares outstanding
Basic and diluted		1,000,000			1,000,000

The accompanying notes are an integral part of these financial statements

F-3

HULUNBEIER BEIXUE DAIRY CO., LTD.

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

								Accumulated Other
	Registered Capital		Additional Paid in Capital		Accumulated Deficits			Comprehensive Income			Total
Balance at September 30, 2007	$	129,206	$	653,781	$	(28,915	)	$	22,558		$	776,630
Additional paid in capital		-		1,730,965		-			-			1,730,965
Net income for the year		-		-		21,113			-			21,113
Foreign currency translation gain		-		-		-			184,236			184,236
Balance at September 30, 2008	$	129,206	$	2,384,746	$	(7,802	)	$	206,794		$	2,712,944
Additional paid in capital		-		598,438		-			-			598,438
Net loss for the year		-		-		(203,842	)		-			(203,842	)
Foreign currency translation loss		-		-		-			(63,806	)		(63,806	)
Balance at September 30, 2009	$	129,206	$	2,983,184	$	(211,644	)	$	142,988		$	3,043,734

The accompanying notes are an integral part of these financial statements

F-4

HULUNBEIER BEIXUE DAIRY CO., LTD.

STATEMENTS OF CASH FLOWS

	For The Years Ended September 30,
	2009			2008
Cash flows from operating activities
Net (loss) income	$	(203,842	)	$	21,113
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization		149,899			169,258
Changes in assets and liabilities:
(Increase) decrease in -
Accounts receivables		204,892			(355,512	)
Inventories		112,200			(178,976	)
Prepaid expenses		(16,564	)		-
Increase (decrease) in -
Accounts payable and other payable		29,993			17,940
Accrued expenses		(204,900	)		218,059
Advance from customers		10,272			-
Net cash provided by (used in) operating activities		81,950			(108,119	)
Cash flows from investing activities
Purchase of fixed assets		(85,885	)		(2,400,832	)
Net cash used in investing activities		(85,885	)		(2,400,832	)
Cash flows from financing activities
Proceeds from related party loans		543,195			1,164,572
Proceeds from shareholder loans		-			1,211,977
Repayment to shareholders		(542,203	)		-
Net cash provided by financing activities		992			2,376,549
Effect of exchange rate changes on cash and cash equivalents		(48	)		8,175
Net decrease in cash and cash equivalents		(2,989	)		(124,227	)
Cash and cash equivalents, beginning of year		8,328			132,555
Cash and cash equivalents, end of year	$	5,337		$	8,328
Supplemental disclosures of cash flow information:
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-
Non-cash investing and financing activities:
Capital contribution in the form of fixed assets	$	598,438		$	1,680,323

The accompanying notes are an integral part of these financial statements

F-5

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

1.   ORGANIZATION AND BASIS OF PRESENTATION

Hulunbeier Beixue Dairy Co., Ltd. (the "Company"), established on March 26, 2007 under the laws of the People’s Republic of China (“PRC” or “China”), is engaged in the production, processing, distribution and development of powdered milk products in the PRC.

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES - The preparation of financial statements in accordance with generally accepted accounting principles require management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

RISKS OF LOSSES - The Company is potentially exposed to risks of losses that may result from business interruptions, injury to others (including employees) and damage to property.  These losses may be uninsured, especially due to the fact that the Company's operations are in China, where business insurance is not readily available.  If: (i) information is available before the Company's financial statements are issued or are available to be issued indicates that such loss is probable and (ii) the amount of the loss can be reasonably estimated, an estimated loss will be accrued by a charge to income.  If such loss is probable but the amount of loss cannot be reasonably estimated, the loss shall be charged to the income of the period in which the loss can be reasonably estimated and shall not be charged retroactively to an earlier period.  As of September 30, 2009 and 2008, the Company has not experienced any uninsured losses from injury to others or other losses.

SUBSEQUENT EVENTS - The Company has evaluated subsequent events that have occurred through the filing date and disclosed it in note 10.

CASH AND CASH EQUIVALENTS - The Company considers cash and cash equivalents to include cash on hand and deposits with banks with an original maturity of three months or less.

ACCOUNTS RECEIVABLE - The Company's policy is to maintain reserves for potential credit losses on accounts receivable. Provision is made against accounts receivable to the extent which they are considered to be doubtful. Accounts receivable in the balance sheet is stated net of such provision.

F-6

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INVENTORIES - Inventories comprise raw materials, work in progress, finished goods and packing materials and are stated at the lower of cost or market value. Cost is calculated using the weighted average method and includes all costs to acquire and any overhead costs incurred in bringing the inventories to their present location and condition. Overhead costs included in finished goods inventory include direct labor cost and other costs directly applicable to the manufacturing process, including utilities, supplies, repairs and maintenances, and depreciation expense. Market value represents the estimated selling price in the ordinary course of business less the estimated costs necessary to complete the sale. Management compares the cost of inventory with market value and an allowance is made for writing down the inventory to its market value, if lower.  Management writes off obsolete inventory when it occurs.

PROPERTY, PLANT AND EQUIPMENT - Property, plant and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property, plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets on a straight-line basis. The estimated useful lives for significant property, plant and equipment categories are as follows:

Building	30 years
Machinery, equipment and automobiles	5-10 years

Construction in progress represents the direct costs of construction or acquisition incurred. Upon completion and readiness for use of the assets, capitalization of these costs ceases and the cost of construction in progress is transferred to fixed assets. No depreciation is provided until the project is completed and the assets are ready for intended use.

The Company periodically reviews the carrying value of long-lived assets in accordance with ASC 360, “Property, Plant, and Equipment”. When estimated future cash flows generated by those assets are less than the carrying amounts of the assets, the Company recognizes an impairment loss equal to the amount by which the carrying value exceeded the fair value of assets. Based on its review, the Company has determined that there were no impairments of its long-lived assets as of September 30, 2009.

REVENUE RECOGNITION - The Company's revenue recognition policies are in compliance with ASC 605. Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured.

ADVANCES FROM CUSTOMERS - Revenue from the sale of goods is recognized when goods are delivered. Non-refundable receipts in advance for goods to be delivered in the subsequent year are carried forward as deferred revenue.

F-7

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

EMPLOYEE BENEFIT COSTS - Mandatory contributions are made to the Chinese Government’s health, retirement benefit and unemployment schemes at the statutory rates in force during the period, based on gross salary payments. The cost of these payments is charged to the statement of income in the same period as the related salary cost.

COMPREHENSIVE INCOME (LOSS) – Comprehensive income (loss) is defined to include changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, items that are required to be recognized under current accounting standards as components of comprehensive income (loss) are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Comprehensive income (loss) includes net income (loss) and the foreign currency translation gain, net of tax.

EARNINGS (LOSS) PER SHARE – The Company computes earnings (loss) per share in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted earnings (loss) per share. Basic earnings (loss) per share is measured as net income divided by the weighted average common shares outstanding for the period. Diluted earnings (loss) per share is similar to basic earnings (loss) per share but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings (loss) per share.

TAXATION – The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

FOREIGN CURRENCY TRANSLATION - The Company's principal country of operations is the PRC. The financial position and results of operations of the Company are determined using the local currency ("RMB") as the functional currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated Other Comprehensive Income".

F-8

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

FAIR VALUE OF FINANCIAL INSTRUMENTS - The carrying amounts of certain financial instruments, including cash, accounts receivable, other receivables, accounts payable, accrued expenses, advances from customers, and other payables approximate their fair values as of September 30, 2009 and 2008 due to the relatively short-term nature of these instruments.

CONCENTRATIONS OF BUSINESS AND CREDIT RISK - The Company maintains certain bank accounts in the PRC which are not protected by insurance.

The Company's operations are carried out in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC and the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in the North America and Western Europe. The Company's operating results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

NEW ACCOUNTING PRONOUNCEMENTS – In January 2010, FASB issued ASU No. 2010-06 – Improving Disclosures about Fair Value Measurements. This update provides amendments to Subtopic 820-10 that requires new disclosure as follows: 1) Transfers in and out of Levels 1 and 2.  A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.  2)  Activity in Level 3 fair value measurements.  In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number). This update provides amendments to Subtopic 820-10 that clarifies existing disclosures as follows: 1) Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities. 2) Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU, however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-9

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In January 2010, FASB issued ASU No. 2010-02 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a Scope Clarification. The amendments in this Update affect accounting and reporting by an entity that experiences a decrease in ownership in a subsidiary that is a business or nonprofit activity. The amendments also affect accounting and reporting by an entity that exchanges a group of assets that constitutes a business or nonprofit activity for an equity interest in another entity.  The amendments in this update are effective beginning in the period that an entity adopts SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements – An Amendment of ARB No. 51.” If an entity has previously adopted SFAS No. 160 as of the date the amendments in this update are included in the Accounting Standards Codification, the amendments in this update are effective beginning in the first interim or annual reporting period ending on or after December 15, 2009. The amendments in this update should be applied retrospectively to the first period that an entity adopted SFAS No. 160. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In January 2010, FASB issued ASU No. 2010-01- Accounting for Distributions to Shareholders with Components of Stock and Cash. The amendments in this Update clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in EPS prospectively and is not a stock dividend for purposes of applying Topics 505 and 260 (Equity and Earnings Per Share). The amendments in this update are effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-10

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In December 2009, FASB issued ASU No. 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R). The amendments in this Accounting Standards Update replace the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which reporting entity has the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. An approach that is expected to be primarily qualitative will be more effective for identifying which reporting entity has a controlling financial interest in a variable interest entity. The amendments in this Update also require additional disclosures about a reporting entity’s involvement in variable interest entities, which will enhance the information provided to users of financial statements. The Company is currently evaluating the impact of this ASU; however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In December 2009, FASB issued ASU No. 2009-16, Accounting for Transfers of Financial Assets. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140.The amendments in this Accounting Standards Update improve financial reporting by eliminating the exceptions for qualifying special-purpose entities from the consolidation guidance and the exception that permitted sale accounting for certain mortgage securitizations when a transferor has not surrendered control over the transferred financial assets. In addition, the amendments require enhanced disclosures about the risks that a transferor continues to be exposed to because of its continuing involvement in transferred financial assets. Comparability and consistency in accounting for transferred financial assets will also be improved through clarifications of the requirements for isolation and limitations on portions of financial assets that are eligible for sale accounting. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In October 2009, the FASB issued an ASU regarding accounting for own-share lending arrangements in contemplation of convertible debt issuance or other financing.  This ASU requires that at the date of issuance of the shares in a share-lending arrangement entered into in contemplation of a convertible debt offering or other financing, the shares issued shall be measured at fair value and be recognized as an issuance cost, with an offset to additional paid-in capital. Further, loaned shares are excluded from basic and diluted earnings per share unless default of the share-lending arrangement occurs, at which time the loaned shares would be included in the basic and diluted earnings-per-share calculation.  This ASU is effective for fiscal years beginning on or after December 15, 2009, and interim periods within those fiscal years for arrangements outstanding as of the beginning of those fiscal years. The Company is currently evaluating the impact of this ASU on its financial statements.

F-11

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In August 2009, the FASB issued an Accounting Standards Update (“ASU”) regarding measuring liabilities at fair value. This ASU provides additional guidance clarifying the measurement of liabilities at fair value in circumstances in which a quoted price in an active market for the identical liability is not available; under those circumstances, a reporting entity is required to measure fair value using one or more of valuation techniques, as defined. This ASU is effective for the first reporting period, including interim periods, beginning after the issuance of this ASU. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In June 2009, the FASB issued ASC 105,  “The FASB Accounting Standards Codification TM and the Hierarchy of Generally Accepted Accounting Principles – a replacement of FASB Statement No. 162”. The FASB Accounting Standards Codification TM (“Codification”) will become the source of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. On the effective date of ASC 105, the Codification will supersede all then-existing non-SEC accounting and reporting standards. All other nongrandfathered non-SEC accounting literature not included in the Codification will become nonauthoritative. ASC 105 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. Adoption of ASC 105 did not have a material impact on the Company’s results of operations or financial position.

In June 2009, the FASB issued ASC 810, “Amendments to FASB Interpretation No. 46(R)” to improve financial reporting by enterprises involved with variable interest entities. ASC 810 addresses (1) the effects on certain provisions of FASB Interpretation No. 46 (revised December 2003), “Consolidation of Variable Interest Entities”, as a result of the elimination of the qualifying special-purpose entity concept in SFAS No. 166 and (2) concerns about the application of certain key provisions of FIN 46(R), including those in which the accounting and disclosures under the Interpretation do not always provide timely and useful information about an enterprise’s involvement in a variable interest entity. ASC 810 will be effective as of the beginning of each reporting entity’s first annual reporting period that begins after November 15, 2009, for interim periods within the first annual reporting period, and for interim and annual reporting periods thereafter. Earlier application is prohibited. The Company does not expect the adoption of ASC 810 to have a material impact on the Company’s results of operations or financial position.

In May 2009, the FASB issued ASC 855, “Subsequent Events”, (“ASC 855”) which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. An entity should apply the requirements of ASC 855 to interim or annual financial periods ending after June 15, 2009. Adoption of ASC 855 did not have a material impact on the Company’s results of operations or financial position.

F-12

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

3.   INVENTORIES

Inventories consist of the following as of September 30, 2009 and 2008:

	September 30, 2009		September 30, 2008
Raw materials	$	73,755	$	29,276
Finished goods		-		157,807
Total inventories	$	73,755	$	187,083

4.   FIXED ASSETS

Fixed assets consist of the following as of September 30, 2009 and 2008:

	September 30, 2009			September 30, 2008
Building	$	2,918,720		$	2,770,830
Plant and machinery		2,033,349			1,519,315
Computer and equipment		879			-
		4,952,949			4,290,145
Less: accumulated depreciation		(296,401	)		(162,020	)
Total fixed assets, net	$	4,656,548		$	4,128,126

Depreciation expense was $135,074 and $154,354 for the years ended September 30, 2009 and 2008, respectively.

5.   INTANGIBLE ASSETS

All land in the People’s Republic of China is government owned and cannot be sold to any individual or company. However, the government grants the user a “land use right” to use the land and the power line underneath. The Company entered into a land use right agreement on May 16, 2005 with Inner Mongolia Autonomous Region Hulunbeier City Land Management Burea, which sets forth the right to use a 22,699 square metres land for 50 years. Under the agreement, the total fees amounted to RMB 5.06 million (approximately US$741,247). The land use right is amortized on a straight line basis over 50 years. Amortization expense was $14,825 and $14,904 for the years ended September 30, 2009 and 2008, respectively.

Net intangible assets at September 30, 2009 and 2008 were as follows:

	September 30, 2009			September 30, 2008
Land use right	$	741,247		$	745,225
Less: accumulated amortization		(61,771	)		(47,198	)
Total intangible assets, net	$	679,477		$	698,027

F-13

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

5.   INTANGIBLE ASSETS (Continued)

Based upon current assumptions, the Company expects that the land use right will be amortized over the next five years according to the following schedule:

	As of September 30,
2010	$	14,825
2011		14,825
2012		14,825
2013		14,825
2014		14,825
Thereafter		605,352
	$	679,477

6.   RELATED PARTY TRANSACTIONS

During the normal course of the business, the Company, from time to time, temporarily borrows money from its principal shareholders to finance the working capital as needed. The amounts are usually unsecured, non-interest bearing and due on demand. The Company had shareholder loans in the amount of $717,284 and $1,266,870 as of September 30, 2009 and September 30, 2008, respectively.

As of September 30, 2009, the Company had $1,754,639 due to related parties, of which $1,003,066 was due to Ewenkeqi Beixue Dairy Co., Ltd. and $751,573 was due to Hulunbeier Hailaer Beixue Dairy Factory. As of September 30, 2008, the Company had $1,217,318 due to related parties, of which $1,002,950 was due to Ewenkeqi Beixue Dairy Co., Ltd. and $214,368 was due to Hulunbeier Hailaer Beixue Dairy Factory.

There were no related party sales for the year ended September 30, 2009 and 2008.

7.   SHAREHOLDERS’ EQUITY

The Company’s registered capital is RMB 1,000,000 (approximately US$129,206). The industry practice in PRC does not require the issuance of stock certificates to the shareholders, nor a third party transfer agent to maintain the records. For the purpose of financial reporting, the Company elected to designate one (1) common share for each RMB contributed. Accordingly, there were a total of 1,000,000 shares issued and outstanding as of September 30, 2008 and 2009.

F-14

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

8.   INCOME TAXES

Under the Income Tax Laws of the PRC, the Company is generally subject to tax at a statutory rate of 25% and was, until January 2008, subject to tax at a statutory rate of 33% (30% state income taxes plus 3% local income taxes) on its taxable income.

Due to the net loss incurred, no income tax expense was accrued for the year ended September 30, 2009. The net operating loss carry-forwards may be available to reduce future years’ taxable income and will expire in 2014. The Company intends to obtain preferential tax treatment of a three-year tax holiday for full Enterprise Income Tax exemption and therefore does not expect the realization of the benefits arising from this operating loss. Accordingly, the Company has provided a 100% valuation allowance at September 30, 2009 for the temporary differences related to loss carry-forwards. Management reviews this valuation allowance periodically and makes adjustments as warranted.

The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of September 30, 2009 and 2008 are as follows:

	As of September 30,
	2009			2008
Deferred tax assets:
Net operating loss carry forward	$	50,960		$	-
Less: valuation allowance		(50,960	)		-
Net deferred tax assets	$	-		$	-

9.   MAJOR CUSTOMERS

The following table presents sales from major customers with individual sales over 10% of total net revenue for the years ended September 30, 2009 and 2008:

	The Year Ended September 30,
	2009								2008
	Sales		% of sales		Accounts receivable		% of accounts receivable		Sales		% of sales		Accounts receivable		% of account receivable
Qingdao Suokang	$	201,927		48%	$	-		0%	$	655,287		11%	$	-		0%
Shanghai Aolan		164,317		39%		164,505		100%		1,090,216		19%		44,625		12%
Heilongjiang Feihe		-		0%		-		0%		2,022,017		35%		-		0%
Total	$	366,244		87%	$	164,505		100%	$	3,767,521		65%	$	44,625		12%

F-15

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

10.   SUBSEQUENT EVENT

On February 5, 2010, the Company entered into an Equity Transfer Agreement (“Agreement”) with Tengshun Technology and Development Co., Ltd. (“Tengshun Technology”), a wholly-owned subsidiary of Rodobo International, Inc. (“Rodobo”), a public company traded on the OTC Bulletin Board. Pursuant to the Agreement, Tengshun Technology agreed to acquire 100% of the equity interest in the Company for a cash payment of RMB1,000,000 (approximately $146,473) and 1,000,000 shares of Rodobo’s common stock.

F-16

EX-99.4

Exhibit 99.4

HULUNBEIER BEIXUE DAIRY CO., LTD.

BALANCE SHEETS

	December 31,			September 30,
	2009			2009
	(Unaudited)			(Audited)
ASSETS
Current assets:
Cash and cash equivalents	$	8,194		$	5,337
Accounts receivable		164,489			164,505
Inventories		979			73,755
Prepaid expenses		21,140			16,583
Total current assets		194,802			260,181
Property, plant and equipment, net		4,656,077			4,656,548
Intangible assets, net		675,702			679,477
Total assets	$	5,526,581		$	5,596,205
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	48,675		$	13,445
Other payable		-			35,235
Accrued expenses		4,251			21,584
Advances from customers		10,283			10,284
Loan from shareholders		1,933,845			717,284
Due to related parties		462,567			1,754,639
Total current liabilities		2,459,621			2,552,471
Shareholders' equity
Registered capital		129,206			129,206
Additional paid in capital		2,983,183			2,983,183
Accumulated deficits		(188,111	)		(211,644	)
Accumulated other comprehensive income		142,682			142,989
Total shareholders' equity		3,066,960			3,043,734
Total liabilities and shareholders' equity	$	5,526,581		$	5,596,205

The accompanying notes are an integral part of these financial statements

F-1

HULUNBEIER BEIXUE DAIRY CO., LTD.

STATEMENTS OF OPERATIONS

(UNAUDITED)

	For The Three Months Ended December 31
	2009			2008
Net sales	$	-		$	418,319
Cost of goods sold		-			388,972
Gross profit		-			29,347
Operating expenses:
Distribution expenses		-			52,387
General and administrative expenses		-			6,844
Total operating expenses		-			59,231
Operating loss		-			(29,884	)
Other income / (expenses)		23,533			4,290
Income (loss) before income taxes		23,533			(25,594	)
Provision for income taxes		-			-
Net income  (loss)	$	23,533		$	(25,594	)
Other comprehensive income (loss):
Foreign currency translation adjustment		(307	)		(11,171	)
Comprehensive income (loss)	$	23,226		$	(36,765	)
Earnings (loss) per share
Basic and diluted	$	0.02		$	(0.03	)
Weighted average shares outstanding
Basic and diluted		1,000,000			1,000,000

The accompanying notes are an integral part of these financial statements

F-2

HULUNBEIER BEIXUE DAIRY CO., LTD.

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For The Three Months Ended December 31,
	2009			2008
Cash flows from operating activities
Net income (loss)	$	23,533		$	(25,594	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization		3,706			37,446
Changes in assets and liabilities:
(Increase) decrease in -
Accounts receivables		-			160,430
Inventories		72,765			120,159
Prepaid expenses		(4,558	)		(17,316	)
Increase (decrease) in -
Accounts payable and other payable		0			2,163,986
Accrued expenses		(17,330	)		(225,476	)
Advance from customers		-			10,264
Net cash provided by operating activities		78,116			2,223,899
Cash flows from investing activities
Purchase of fixed assets		-			(2,559	)
Cash used for contruction in progress		-			(83,259	)
Loan to related parties		-			-
Net cash used in investing activities		-			(85,818	)
Cash flows from financing activities
Repayment to related parties		(1,291,826	)		(1,208,494	)
Repayment to shareholders		-			(932,934	)
Proceeds from shareholder loans		1,216,568			-
Net cash used in financing activities		(75,258	)		(2,141,428	)
Effect of exchange rate changes on cash and cash equivalents		(1	)		(49	)
Net increase (decrease) in cash and cash equivalents		2,858			(3,396	)
Cash and cash equivalents, beginning of period		5,337			8,328
Cash and cash equivalents, end of period	$	8,194		$	4,932
Non-cash investing and financing activities:
Capital contribution in the form of fixed assets	$	-		$	598,438

The accompanying notes are an integral part of these financial statements

F-3

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

1.   ORGANIZATION AND BASIS OF PRESENTATION

Hulunbeier Beixue Dairy Co., Ltd. (the "Company"), established on March 26, 2007 under the laws of the People’s Republic of China (“PRC” or “China”), is engaged in the production, processing, distribution and development of powdered milk products in the PRC.

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they may not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended December 31, 2009 and 2008 are not necessarily indicative of the results that may be expected for the full years.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES - The preparation of financial statements in accordance with generally accepted accounting principles require management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

RISKS OF LOSSES - The Company is potentially exposed to risks of losses that may result from business interruptions, injury to others (including employees) and damage to property.  These losses may be uninsured, especially due to the fact that the Company's operations are in China, where business insurance is not readily available.  If: (i) information is available before the Company's financial statements are issued or are available to be issued indicates that such loss is probable and (ii) the amount of the loss can be reasonably estimated, an estimated loss will be accrued by a charge to income.  If such loss is probable but the amount of loss cannot be reasonably estimated, the loss shall be charged to the income of the period in which the loss can be reasonably estimated and shall not be charged retroactively to an earlier period.  As of December 31, 2009 and 2008, the Company has not experienced any uninsured losses from injury to others or other losses.

SUBSEQUENT EVENTS - The Company has evaluated subsequent events that have occurred through the filing date and disclosed it in note 10.

CASH AND CASH EQUIVALENTS - The Company considers cash and cash equivalents to include cash on hand and deposits with banks with an original maturity of three months or less.

ACCOUNTS RECEIVABLE - The Company's policy is to maintain reserves for potential credit losses on accounts receivable. Provision is made against accounts receivable to the extent which they are considered to be doubtful. Accounts receivable in the balance sheet is stated net of such provision.

F-4

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INVENTORIES - Inventories comprise raw materials, work in progress, finished goods and packing materials and are stated at the lower of cost or market value. Cost is calculated using the weighted average method and includes all costs to acquire and any overhead costs incurred in bringing the inventories to their present location and condition. Overhead costs included in finished goods inventory include direct labor cost and other costs directly applicable to the manufacturing process, including utilities, supplies, repairs and maintenances, and depreciation expense. Market value represents the estimated selling price in the ordinary course of business less the estimated costs necessary to complete the sale. Management compares the cost of inventory with market value and an allowance is made for writing down the inventory to its market value, if lower.  Management writes off obsolete inventory when it occurs.

PROPERTY, PLANT AND EQUIPMENT - Property, plant and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property, plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets on a straight-line basis. The estimated useful lives for significant property, plant and equipment categories are as follows:

Building	30 years
Machinery, equipment and automobiles	5-10 years

Construction in progress represents the direct costs of construction or acquisition incurred. Upon completion and readiness for use of the assets, capitalization of these costs ceases and the cost of construction in progress is transferred to fixed assets. No depreciation is provided until the project is completed and the assets are ready for intended use.

The Company periodically reviews the carrying value of long-lived assets in accordance with ASC 360, “Property, Plant, and Equipment”. When estimated future cash flows generated by those assets are less than the carrying amounts of the assets, the Company recognizes an impairment loss equal to the amount by which the carrying value exceeded the fair value of assets. Based on its review, the Company has determined that there were no impairments of its long-lived assets as of December 31, 2009.

REVENUE RECOGNITION - The Company's revenue recognition policies are in compliance with ASC 605. Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured.

ADVANCES FROM CUSTOMERS - Revenue from the sale of goods is recognized when goods are delivered. Non-refundable receipts in advance for goods to be delivered in the subsequent period are carried forward as deferred revenue.

F-5

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

EMPLOYEE BENEFIT COSTS - Mandatory contributions are made to the Chinese Government’s health, retirement benefit and unemployment schemes at the statutory rates in force during the period, based on gross salary payments. The cost of these payments is charged to the statement of income in the same period as the related salary cost.

COMPREHENSIVE INCOME (LOSS) – Comprehensive income (loss) is defined to include changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, items that are required to be recognized under current accounting standards as components of comprehensive income (loss) are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Comprehensive income (loss) includes net income (loss) and the foreign currency translation gain, net of tax.

EARNINGS (LOSS) PER SHARE – The Company computes earnings (loss) per share in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted earnings (loss) per share. Basic earnings (loss) per share is measured as net income divided by the weighted average common shares outstanding for the period. Diluted earnings (loss) per share is similar to basic earnings (loss) per share but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted earnings (loss) per share.

TAXATION – The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

FOREIGN CURRENCY TRANSLATION - The Company's principal country of operations is the PRC. The financial position and results of operations of the Company are determined using the local currency ("RMB") as the functional currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated Other Comprehensive Income".

F-6

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

FAIR VALUE OF FINANCIAL INSTRUMENTS - The carrying amounts of certain financial instruments, including cash, accounts receivable, other receivables, accounts payable, accrued expenses, advances from customers, and other payables approximate their fair values as of December 31, 2009 and 2008 due to the relatively short-term nature of these instruments.

CONCENTRATIONS OF BUSINESS AND CREDIT RISK - The Company maintains certain bank accounts in the PRC which are not protected by insurance.

The Company's operations are carried out in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC and the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in the North America and Western Europe. The Company's operating results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

NEW ACCOUNTING PRONOUNCEMENTS – In January 2010, FASB issued ASU No. 2010-06 – Improving Disclosures about Fair Value Measurements. This update provides amendments to Subtopic 820-10 that requires new disclosure as follows: 1) Transfers in and out of Levels 1 and 2.  A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.  2)  Activity in Level 3 fair value measurements.  In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number). This update provides amendments to Subtopic 820-10 that clarifies existing disclosures as follows: 1) Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities. 2) Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU, however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-7

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In January 2010, FASB issued ASU No. 2010-02 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a Scope Clarification. The amendments in this Update affect accounting and reporting by an entity that experiences a decrease in ownership in a subsidiary that is a business or nonprofit activity. The amendments also affect accounting and reporting by an entity that exchanges a group of assets that constitutes a business or nonprofit activity for an equity interest in another entity.  The amendments in this update are effective beginning in the period that an entity adopts SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements – An Amendment of ARB No. 51.” If an entity has previously adopted SFAS No. 160 as of the date the amendments in this update are included in the Accounting Standards Codification, the amendments in this update are effective beginning in the first interim or annual reporting period ending on or after December 15, 2009. The amendments in this update should be applied retrospectively to the first period that an entity adopted SFAS No. 160. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In January 2010, FASB issued ASU No. 2010-01- Accounting for Distributions to Shareholders with Components of Stock and Cash. The amendments in this Update clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in EPS prospectively and is not a stock dividend for purposes of applying Topics 505 and 260 (Equity and Earnings Per Share). The amendments in this update are effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-8

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In December 2009, FASB issued ASU No. 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R). The amendments in this Accounting Standards Update replace the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which reporting entity has the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. An approach that is expected to be primarily qualitative will be more effective for identifying which reporting entity has a controlling financial interest in a variable interest entity. The amendments in this Update also require additional disclosures about a reporting entity’s involvement in variable interest entities, which will enhance the information provided to users of financial statements. The Company is currently evaluating the impact of this ASU; however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In December 2009, FASB issued ASU No. 2009-16, Accounting for Transfers of Financial Assets. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140.The amendments in this Accounting Standards Update improve financial reporting by eliminating the exceptions for qualifying special-purpose entities from the consolidation guidance and the exception that permitted sale accounting for certain mortgage securitizations when a transferor has not surrendered control over the transferred financial assets. In addition, the amendments require enhanced disclosures about the risks that a transferor continues to be exposed to because of its continuing involvement in transferred financial assets. Comparability and consistency in accounting for transferred financial assets will also be improved through clarifications of the requirements for isolation and limitations on portions of financial assets that are eligible for sale accounting. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In October 2009, the FASB issued an ASU regarding accounting for own-share lending arrangements in contemplation of convertible debt issuance or other financing.  This ASU requires that at the date of issuance of the shares in a share-lending arrangement entered into in contemplation of a convertible debt offering or other financing, the shares issued shall be measured at fair value and be recognized as an issuance cost, with an offset to additional paid-in capital. Further, loaned shares are excluded from basic and diluted earnings per share unless default of the share-lending arrangement occurs, at which time the loaned shares would be included in the basic and diluted earnings-per-share calculation.  This ASU is effective for fiscal years beginning on or after December 15, 2009, and interim periods within those fiscal years for arrangements outstanding as of the beginning of those fiscal years. The Company is currently evaluating the impact of this ASU on its financial statements.

F-9

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

3.   INVENTORIES

Inventories consist of the following as of December 31, 2009 and September 30, 2009:

	December 31, 2009		September 30, 2009
Raw materials	$	979,748	$	73,755
Finished goods		-		-
Total inventories	$	979,748	$	73,755

4.   FIXED ASSETS

Fixed assets consist of the following as of December 31, 2009 and September 30, 2009:

	December 31, 2009			September 30, 2009
Building	$	2,918,425		$	2,918,720
Plant and machinery		2,033,144			2,033,349
Computer and equipment		879			879
		4,952,448			4,952,949
Less: accumulated depreciation		(296,371	)		(296,401	)
Total fixed assets, net	$	4,656,077		$	4,656,548

As the Company has ceased production since September 2009, there was no depreciation expense recorded for the three months ended December 31, 2009. Depreciation expense was $3,699 for the three months ended December 31, 2008.

5.   INTANGIBLE ASSETS

All land in the People’s Republic of China is government owned and cannot be sold to any individual or company. However, the government grants the user a “land use right” to use the land and the power line underneath. The Company entered into a land use right agreement on May 16, 2005 with Inner Mongolia Autonomous Region Hulunbeier City Land Management Burea, which sets forth the right to use a 22,699 square meters land for 50 years. Under the agreement, the total fees amounted to RMB 5.06 million (approximately US$741,247). The land use right is amortized on a straight line basis over 50 years. Amortization expense was $3,706 and $3,699 for the three months ended December 31, 2009 and 2008, respectively.

Net intangible assets at December 31, 2009 and September 30, 2009:

	December 31, 2009			September 30, 2009
Land use right	$	741,173		$	741,247
Less: accumulated amortization		(65,470	)		(61,771	)
Total intangible assets, net	$	675,702		$	679,477

F-10

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

5.   INTANGIBLE ASSETS (Continued)

Based upon current assumptions, the Company expects that the land use right will be amortized according to the following schedule:

	As of DEcember 31,
2010	$	14,823
2011		14,823
2012		14,823
2013		14,823
2014		14,823
Thereafter		601,585
	$	675,702

6.   RELATED PARTY TRANSACTIONS

During the normal course of the business, the Company, from time to time, temporarily borrows money from its principal shareholders to finance the working capital as needed. The amounts are usually unsecured, non-interest bearing and due on demand. The Company had shareholder loans in the amount of $1,933,845 and $717,284 as of December 31, 2009 and September 30, 2009, respectively.

As of December 31, 2009, the Company had $462,567 due from related party, Hulunbeier Hailaer Beixue Dairy Factory. As of September 30, 2009, the Company had $1,754,639 due to related parties, of which $1,003,066 was due to Ewenkeqi Beixue Dairy Co., Ltd. and $751,573 was due to Hulunbeier Hailaer Beixue Dairy Factory.

There were no related party sales for the three months ended December 31, 2009 and 2008.

7.   SHAREHOLDERS’ EQUITY

The Company’s registered capital is RMB 1,000,000 (approximately US$129,206). Honghai Zhang was the sole individual shareholder of the Company until November 2, 2009, when Yanbin Wang became a shareholder of the Company and owns 51% of the Company with the remaining 49% owned by Honghai Zhang.

The industry practice in PRC does not require the issuance of stock certificates to the shareholders, nor a third party transfer agent to maintain the records. For the purpose of financial reporting, the Company elected to designate one (1) common share for each RMB contributed. Accordingly, there were a total of 1,000,000 shares issued and outstanding as of December 31, 2009 and September 30, 2009.

F-11

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

8.   INCOME TAXES

Under the Income Tax Laws of the PRC, the Company is generally subject to tax at a statutory rate of 25% and was, until January 2008, subject to tax at a statutory rate of 33% (30% state income taxes plus 3% local income taxes) on its taxable income.

Due to the net loss incurred, no income tax expense was accrued for the year ended September 30, 2009. The net operating loss carry-forwards may be available to reduce future years’ taxable income and will expire in 2014. The Company intends to obtain preferential tax treatment of a three-year tax holiday for full Enterprise Income Tax exemption and therefore does not expect the realization of the benefits arising from this operating loss. Accordingly, the Company has provided a 100% valuation allowance at December 31, 2009 for the temporary differences related to loss carry-forwards. Management reviews this valuation allowance periodically and makes adjustments as warranted.

The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of December 31, 2009 are as follows:

Deferred tax assets:
Net operating loss carry forward	$	50,960
Less: valuation allowance		(50,960	)
Net deferred tax assets	$	-

9.   MAJOR CUSTOMERS

The following table presents sales from major customers with individual sales over 10% of total net revenue for the three months ended December 31, 2009 and 2008:

	The Year Ended December 31,
	2009							2008
	Sales		% of sales	Accounts receivable		% of accounts receivable		Sales		% of sales		Accounts receivable		% of account receivable
Qingdao Suokang	$	-	NA	$	-		0%	$	167,469		40%	$	-		0%
Shanghai Aolan		-	NA		164,489		100%		136,277		33%		164,505		100%
Mengniu Dairy		-	NA		-		0%		102,484		24%		-		0%
Total	$	-	NA	$	164,489		100%	$	406,231		97%	$	164,505		100%

F-12

HULUNBEIER BEIXUE DAIRY CO., LTD.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

10.   SUBSEQUENT EVENT

On February 5, 2010, the Company entered into an Equity Transfer Agreement (“Agreement”) with Tengshun Technology and Development Co., Ltd. (“Tengshun Technology”), a wholly-owned subsidiary of Rodobo International, Inc. (“Rodobo”), a public company traded on the OTC Bulletin Board. Pursuant to the Agreement, Tengshun Technology agreed to acquire 100% of the equity interest in the Company for a cash payment of RMB1,000,000 (approximately $146,473) and 1,000,000 shares of Rodobo’s common stock.

F-13

EX-99.5

Exhibit 99.5

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders Hulunbeier Hailaer Beixue Dairy Factory

We have audited the accompanying balance sheets of Hulunbeier Hailaer Beixue Dairy Factory as of September 30, 2009 and 2008, and the related statements of operations, cash flows and stockholders' equity for each of the years in the two year periods ended September 30, 2009. Company's management is responsible for these financial statements. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Company as of September 30, 2009 and 2008, and the results of their operations and their cash flows for each of the years in the two year periods ended September 30, 2009 in conformity with accounting principles generally accepted in the United States of America.

/s/ Friedman LLP

Marlton, NJ

April 7, 2010

F-1

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

BALANCE SHEETS

	As of September 30,
	2009		2008
ASSETS
Current assets:
Cash and cash equivalents	$	198,551	$	1,148,644
Accounts receivable - net of allowance for bad debts of
$7,787 and $7,829, respectively		2,390,352		547,418
Other recievables		-		82,581
Due from related parties		2,529,792		1,991,583
Loan to others		733,103		-
Tax receivable		124,142		1,646,517
Inventories		2,882,983		11,627,837
Prepaid expenses		49,806		-
Advances to suppliers		4,142,197		2,431,324
Total current assets		13,050,926		19,475,904
Property, plant and equipment, net		10,903,037		9,233,706
Other assets:
Restricted cash		39,553		39,765
Loan to shareholders		88,890		-
Intangible assets, net		652,298		670,054
Total other assets		780,741		709,819
Total assets	$	24,734,704	$	29,419,429
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	1,505,050	$	3,946,405
Short-term loan		1,333,074		2,179,708
Other payables		72,816		91,432
Accrued expenses		548,346		329,928
Advances from customers		3,242,297		8,995,176
Loan from shareholders		-		3,459,907
Total current liabilities		6,701,583		19,002,556
Shareholders' equity
Registered capital		72,494		72,494
Additional paid in capital		11,023,102		5,343,406
Retained earnings		5,615,803		3,630,399
Accumulated other comprehensive income		1,321,722		1,370,574
Total shareholders' equity		18,033,121		10,416,873
Total liabilities and shareholders' equity	$	24,734,704	$	29,419,429

The accompanying notes are an integral part of these financial statements

F-2

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

STATEMENTS OF OPERATIONS

	For The Years Ended September 30,
	2009			2008
Net sales	$	22,456,948		$	19,441,754
Cost of goods sold		19,565,073			16,920,072
Gross profit		2,891,875			2,521,682
Operating expenses:
Distribution expenses		184,231			496,343
General and administrative expenses		373,796			178,187
Total operating expenses		558,027			674,530
Operating income		2,333,848			1,847,152
Interest expenses		348,444			247,058
Income before income taxes		1,985,404			1,600,094
Provision for income taxes		-			-
Net income	$	1,985,404		$	1,600,094
Other comprehensive income:
Foreign currency translation adjustment		(48,852	)		917,025
Comprehensive income	$	1,936,552		$	2,517,119
Earnings per share
Basic and diluted	$	3.31		$	2.67
Weighted average shares outstanding
Basic and diluted		600,000			600,000

The accompanying notes are an integral part of these financial statements

F-3

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

	Registered		Additional		Retained		Accumulated Other Comprehensive
	Capital		Paid in Capital		Earnings		Income			Total
Balance at September 30, 2007	$	72,494	$	4,637,774	$	2,030,305	$	453,549		$	7,194,121
Additional paid in capital		-		705,632		-		-			705,632
Net income for the year		-		-		1,600,094		-			1,600,094
Foreign currency translation gain		-		-		-		917,025			917,025
Balance at September 30, 2008	$	72,494	$	5,343,406	$	3,630,399	$	1,370,574		$	10,416,873
Additional paid in capital		-		5,679,696		-		-			5,679,696
Net income for the year		-		-		1,985,404		-			1,985,404
Foreign currency translation loss		-		-		-		(48,852	)		(48,852	)
Balance at September 30, 2009	$	72,494	$	11,023,102	$	5,615,803	$	1,321,722		$	18,033,121

The accompanying notes are an integral part of these financial statements

F-4

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

STATEMENTS OF CASH FLOWS

	For The Years Ended September 30,
	2009			2008
Cash flows from operating activities
Net income	$	1,985,404		$	1,600,094
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization		799,980			579,056
Allowance for advances to suppliers		159,837			-
Changes in assets and liabilities:
(Increase) decrease in -
Accounts receivable and other receivables		(1,761,695	)		241,238
Tax receivable		1,511,854			(1,575,174	)
Inventories		8,672,854			(10,182,741	)
Prepaid expenses		(49,750	)		-
Advances to suppliers		(1,881,710	)		(2,325,976	)
Increase (decrease) in -
Accounts payable and other payable		(195,482	)		3,942,242
Accrued expenses		219,927			(344,506	)
Advances from customers		(5,698,340	)		8,605,418
Net cash provided by operating activities		3,762,879			539,651
Cash flows from investing activities
Purchase of fixed assets		(2,502,456	)		(322,359	)
Loan to related parties		(548,208	)		(1,905,289	)
Loan to others		(732,263	)		-
Loan to shareholders		(88,788	)
Repayment from shareholders		-			1,972,545
Net cash used in investing activities		(3,871,715	)		(255,103	)
Cash flows from financing activities
Proceeds from short-term loan		980,369			84,538
Repayment of short-term loan		(1,814,415	)		-
Restricted cash paid to banks		-			(2,818	)
Proceeds from shareholder loans		-			144,278
Net cash (used in) provided by financing activities		(834,046	)		225,998
Effect of exchange rate changes on cash and cash equivalents		(7,211	)		82,520
Net (decrease) increase in cash and cash equivalents		(950,093	)		593,066
Cash and cash equivalents, beginning of year		1,148,644			555,578
Cash and cash equivalents, end of year	$	198,551		$	1,148,644
Supplemental disclosures of cash flow information:
Interest paid	$	274,692		$	119,606
Income taxes paid	$	-		$	-
Non-cash financing activities:
Liabilities converted to equity	$	5,679,696		$	-
Capital contributed in the form of intangible assets	$	-		$	705,632

The accompanying notes are an integral part of these financial statements

F-5

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

1.   ORGANIZATION AND BASIS OF PRESENTATION

Hulunbeier Hailaer Beixue Dairy Factory (the "Company"), established on February 4, 2002 under the laws of the People’s Republic of China (“PRC” or “China”), is engaged in the production, processing, distribution and development of powdered milk products in the PRC.

The accompanying financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES - The preparation of financial statements in accordance with generally accepted accounting principles require management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

RISKS OF LOSSES - The Company is potentially exposed to risks of losses that may result from business interruptions, injury to others (including employees) and damage to property.  These losses may be uninsured, especially due to the fact that the Company's operations are in China, where business insurance is not readily available.  If: (i) information is available before the Company's financial statements are issued or are available to be issued indicates that such loss is probable and (ii) the amount of the loss can be reasonably estimated, an estimated loss will be accrued by a charge to income.  If such loss is probable but the amount of loss cannot be reasonably estimated, the loss shall be charged to the income of the period in which the loss can be reasonably estimated and shall not be charged retroactively to an earlier period.  As of September 30, 2009 and 2008, the Company has not experienced any uninsured losses from injury to others or other losses.

SUBSEQUENT EVENTS - The Company has evaluated subsequent events that have occurred through the filing date and disclosed it in note 16.

CASH AND CASH EQUIVALENTS - The Company considers cash and cash equivalents to include cash on hand and deposits with banks with an original maturity of three months or less.

ACCOUNTS RECEIVABLE - The Company's policy is to maintain reserves for potential credit losses on accounts receivable. Provision is made against accounts receivable to the extent which they are considered to be doubtful. Accounts receivable in the balance sheet is stated net of such provision.

F-6

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INVENTORIES - Inventories comprise raw materials, work in progress, finished goods and packing materials and are stated at the lower of cost or market value. Cost is calculated using the weighted average method and includes all costs to acquire and any overhead costs incurred in bringing the inventories to their present location and condition. Overhead costs included in finished goods inventory include direct labor cost and other costs directly applicable to the manufacturing process, including utilities, supplies, repairs and maintenances, and depreciation expense. Market value represents the estimated selling price in the ordinary course of business less the estimated costs necessary to complete the sale. Management compares the cost of inventory with market value and an allowance is made for writing down the inventory to its market value, if lower.  Management writes off obsolete inventory when it occurs.

PROPERTY, PLANT AND EQUIPMENT - Property, plant and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property, plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets on a straight-line basis. The estimated useful lives for significant property, plant and equipment categories are as follows:

Building	30 years
Machinery, equipment and automobiles	5-10 years

Construction in progress represents the direct costs of construction or acquisition incurred. Upon completion and readiness for use of the assets, capitalization of these costs ceases and the cost of construction in progress is transferred to fixed assets. No depreciation is provided until the project is completed and the assets are ready for intended use.

The Company periodically reviews the carrying value of long-lived assets in accordance with ASC 360, “Property, Plant, and Equipment”. When estimated future cash flows generated by those assets are less than the carrying amounts of the assets, the Company recognizes an impairment loss equal to the amount by which the carrying value exceeded the fair value of assets. Based on its review, the Company has determined that there were no impairments of its long-lived assets as of September 30, 2009.

REVENUE RECOGNITION - The Company's revenue recognition policies are in compliance with ASC 605. Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured.

ADVANCES FROM CUSTOMERS - Revenue from the sale of goods is recognized when goods are delivered. Non-refundable receipts in advance for goods to be delivered in the subsequent year are carried forward as deferred revenue.

F-7

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

EMPLOYEE BENEFIT COSTS - Mandatory contributions are made to the Chinese Government’s health, retirement benefit and unemployment schemes at the statutory rates in force during the period, based on gross salary payments. The cost of these payments is charged to the statement of income in the same period as the related salary cost.

COMPREHENSIVE INCOME – Comprehensive income is defined to include changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, items that are required to be recognized under current accounting standards as components of comprehensive income are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Comprehensive income includes net income and the foreign currency translation gain, net of tax.

EARNINGS PER SHARE – The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

TAXATION - The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

FOREIGN CURRENCY TRANSLATION - The Company's principal country of operations is the PRC. The financial position and results of operations of the Company are determined using the local currency ("RMB") as the functional currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated Other Comprehensive Income".

F-8

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

FAIR VALUE OF FINANCIAL INSTRUMENTS - The carrying amounts of certain financial instruments, including cash, accounts receivable, other receivables, accounts payable, accrued expenses, advances from customers, and other payables approximate their fair values as of September 30, 2009 and 2008 due to the relatively short-term nature of these instruments.

CONCENTRATIONS OF BUSINESS AND CREDIT RISK - The Company maintains certain bank accounts in the PRC which are not protected by insurance.

The Company's operations are carried out in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC and the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in the North America and Western Europe. The Company's operating results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

NEW ACCOUNTING PRONOUNCEMENTS – In January 2010, FASB issued ASU No. 2010-06 – Improving Disclosures about Fair Value Measurements. This update provides amendments to Subtopic 820-10 that requires new disclosure as follows: 1) Transfers in and out of Levels 1 and 2.  A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.  2)  Activity in Level 3 fair value measurements.  In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number). This update provides amendments to Subtopic 820-10 that clarifies existing disclosures as follows: 1) Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities. 2) Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU, however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-9

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.  SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In January 2010, FASB issued ASU No. 2010-02 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a Scope Clarification. The amendments in this Update affect accounting and reporting by an entity that experiences a decrease in ownership in a subsidiary that is a business or nonprofit activity. The amendments also affect accounting and reporting by an entity that exchanges a group of assets that constitutes a business or nonprofit activity for an equity interest in another entity.  The amendments in this update are effective beginning in the period that an entity adopts SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements – An Amendment of ARB No. 51.” If an entity has previously adopted SFAS No. 160 as of the date the amendments in this update are included in the Accounting Standards Codification, the amendments in this update are effective beginning in the first interim or annual reporting period ending on or after December 15, 2009. The amendments in this update should be applied retrospectively to the first period that an entity adopted SFAS No. 160. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In January 2010, FASB issued ASU No. 2010-01- Accounting for Distributions to Shareholders with Components of Stock and Cash. The amendments in this Update clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in EPS prospectively and is not a stock dividend for purposes of applying Topics 505 and 260 (Equity and Earnings Per Share). The amendments in this update are effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-10

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In December 2009, FASB issued ASU No. 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R). The amendments in this Accounting Standards Update replace the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which reporting entity has the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. An approach that is expected to be primarily qualitative will be more effective for identifying which reporting entity has a controlling financial interest in a variable interest entity. The amendments in this Update also require additional disclosures about a reporting entity’s involvement in variable interest entities, which will enhance the information provided to users of financial statements. The Company is currently evaluating the impact of this ASU; however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In December 2009, FASB issued ASU No. 2009-16, Accounting for Transfers of Financial Assets. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140.The amendments in this Accounting Standards Update improve financial reporting by eliminating the exceptions for qualifying special-purpose entities from the consolidation guidance and the exception that permitted sale accounting for certain mortgage securitizations when a transferor has not surrendered control over the transferred financial assets. In addition, the amendments require enhanced disclosures about the risks that a transferor continues to be exposed to because of its continuing involvement in transferred financial assets. Comparability and consistency in accounting for transferred financial assets will also be improved through clarifications of the requirements for isolation and limitations on portions of financial assets that are eligible for sale accounting. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In October 2009, the FASB issued an ASU regarding accounting for own-share lending arrangements in contemplation of convertible debt issuance or other financing.  This ASU requires that at the date of issuance of the shares in a share-lending arrangement entered into in contemplation of a convertible debt offering or other financing, the shares issued shall be measured at fair value and be recognized as an issuance cost, with an offset to additional paid-in capital. Further, loaned shares are excluded from basic and diluted earnings per share unless default of the share-lending arrangement occurs, at which time the loaned shares would be included in the basic and diluted earnings-per-share calculation.  This ASU is effective for fiscal years beginning on or after December 15, 2009, and interim periods within those fiscal years for arrangements outstanding as of the beginning of those fiscal years. The Company is currently evaluating the impact of this ASU on its financial statements.

F-11

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In August 2009, the FASB issued an Accounting Standards Update (“ASU”) regarding measuring liabilities at fair value. This ASU provides additional guidance clarifying the measurement of liabilities at fair value in circumstances in which a quoted price in an active market for the identical liability is not available; under those circumstances, a reporting entity is required to measure fair value using one or more of valuation techniques, as defined. This ASU is effective for the first reporting period, including interim periods, beginning after the issuance of this ASU. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

In June 2009, the FASB issued ASC 105,  “The FASB Accounting Standards Codification TM and the Hierarchy of Generally Accepted Accounting Principles – a replacement of FASB Statement No. 162”. The FASB Accounting Standards Codification TM (“Codification”) will become the source of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by FASB to be applied by nongovernmental entities. Rules and interpretive releases of the SEC under authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. On the effective date of ASC 105, the Codification will supersede all then-existing non-SEC accounting and reporting standards. All other nongrandfathered non-SEC accounting literature not included in the Codification will become nonauthoritative. ASC 105 is effective for financial statements issued for interim and annual periods ending after September 15, 2009. Adoption of ASC 105 did not have a material impact on the Company’s results of operations or financial position.

In June 2009, the FASB issued ASC 810, “Amendments to FASB Interpretation No. 46(R)” to improve financial reporting by enterprises involved with variable interest entities. ASC 810 addresses (1) the effects on certain provisions of FASB Interpretation No. 46 (revised December 2003), “Consolidation of Variable Interest Entities”, as a result of the elimination of the qualifying special-purpose entity concept in SFAS No. 166 and (2) concerns about the application of certain key provisions of FIN 46(R), including those in which the accounting and disclosures under the Interpretation do not always provide timely and useful information about an enterprise’s involvement in a variable interest entity. ASC 810 will be effective as of the beginning of each reporting entity’s first annual reporting period that begins after November 15, 2009, for interim periods within the first annual reporting period, and for interim and annual reporting periods thereafter. Earlier application is prohibited. The Company does not expect the adoption of ASC 810 to have a material impact on the Company’s results of operations or financial position.

In May 2009, the FASB issued ASC 855, “Subsequent Events”, (“ASC 855”) which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. An entity should apply the requirements of ASC 855 to interim or annual financial periods ending after June 15, 2009. Adoption of ASC 855 did not have a material impact on the Company’s results of operations or financial position.

F-12

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

3.   ACCOUNTS RECEIVABLE

The Company’s accounts receivable as of September 30, 2009 and 2008 are summarized as follows:

	September 30, 2009		September 30, 2008
Accounts receivable	$	2,398,139	$	555,247
Less: Allowance for doubtful accounts		7,787		7,829
Total net accounts receivable	$	2,390,352	$	547,418

The activity in the allowance for doubtful accounts as of September 30, 2009 and 2008 is summarized as follows:

	September 30, 2009			September 30, 2008
Beginning balance	$	7,829		$	7,073
Change during the period		(42	)		756
Ending balance	$	7,787		$	7,829

4.   LOAN TO OTHERS

The Company occasionally provides loans to non-related companies in order to develop favorable business relationships. These loans are usually free of interest and due upon demand. As of September 30, 2009, the Company had outstanding loans of $733,103 to one non-related company. There was no outstanding loans to non-related companies as of September 30, 2008. No allowance is considered necessary because the Company has collected the loan as of this report issued date.

5.  INVENTORIES

Inventories consist of the following as of September 30, 2009 and 2008:

	September 30, 2009		September 30, 2008
Raw materials	$	221,533	$	403,765
Work-in-progress		685,355		133,771
Finished goods		1,976,095		11,090,301
Total inventories	$	2,882,983	$	11,627,837

6.   ADVANCES TO SUPPLIERS

The Company makes advances to certain vendors for inventory purchases. The Company had $4,142,197 and $2,431,324 of advances to suppliers while the Company has not received relevant inventory as of September 30, 2009 and 2008, respectively. The allowances for advances to suppliers were $160,020 and zero as of September 30, 2009 and 2008, respectively.

F-13

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

7.   FIXED ASSETS

Fixed assets consist of the following as of September 30, 2009 and 2008:

	September 30, 2009			September 30, 2008
Building	$	6,636,804		$	6,672,413
Plant and machinery		5,687,684			3,405,163
Motor vehicles		458,964			275,236
Computers and equipment		62,590			43,386
		12,846,042			10,396,198
Less: accumulated depreciation		(1,943,005	)		(1,162,492	)
Total fixed assets, net	$	10,903,037		$	9,233,706

Depreciation expense was $785,816 and $565,418 for the years ended September 30, 2009 and 2008, respectively.

8.   INTANGIBLE ASSETS

All land in the People’s Republic of China is government owned and cannot be sold to any individual or company. However, the government grants the user a “land use right” to use the land and the power line underneath. The Company entered into a land use right agreement on October 14, 2002 with Inner Mongolia Autonomous Region Hulunbeier City Land Management Bureau, which sets forth the right to use a 21,139 square meters land for 50 years from September 26, 2005 to September 26, 2055. Under the agreement, the total fees amounted to RMB 4.84 million (approximately US$709,019). The land use right is amortized on a straight line basis over 50 years. Amortization expense was $14,180 and $14,256 for the years ended September 30, 2009 and 2008, respectively.

Net intangible assets at September 30, 2009 and 2008 were as follows:

	September 30, 2009			September 30, 2008
Land use right	$	709,020		$	712,823
Less: accumulated amortization		(56,722	)		(42,769	)
Total intangible assets, net	$	652,298		$	670,054

Based upon current assumptions, the Company expects that the land use right will be amortized according to the following schedule:

	As of September 30,
2010	$	14,180
2011		14,180
2012		14,180
2013		14,180
2014		14,180
Thereafter		581,396
	$	652,298

F-14

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

9.   RELATED PARTY TRANSACTIONS

During the normal course of the business, the Company, from time to time, temporarily borrows money from its principal shareholders to finance the working capital as needed. The amounts are usually unsecured, non-interest bearing and due on demand. The Company had shareholder loans in the amount of $3,459,907 as of September 30, 2008, and the entire balance of shareholder loans has been converted to equity as of September 30, 2009.

As of September 30, 2009, the Company had $88,890 loans to shareholders and $2,529,792 due from related parties, including $1,778,218 due from Ewenkeqi Beixue Dairy Co., Ltd. and $751,574 due from Hulunbeier Beixue Dairy Co., Ltd. As of September 30, 2008, the Company had $1,991,583 due from related parties, of which $1,777,215 was due from Ewenkeqi Beixue Dairy Co. Ltd. and $214,368 was due from Hulunbeier Beixue Dairy Co. Ltd. The amounts are unsecured, non-interest bearing and due on demand.

The Company purchased raw materials and products from Ewenkeqi Beixue Dairy Co., Ltd. The total purchase was $63,133 and $38,508 for the years ended September 30, 2009 and 2008, respectively.

10.   SHORT-TERM LOAN

As of September 30, 2009, the Company had a total of $1,333,074 short-term loans including the followings:

Lender	Term		Weighted Average Annual Interest rate	Amount
Xinghai Credit Union	2009.07.06	2010.07.05	9.6%	351,580
Xinghai Credit Union	2009.03.12	2010.03.12	10.7%	175,790
Zhang fengshun (related party)	2009.03.20	Due on demand	9.8%	292,983
Hulunbeier City Rundafeng	2009.05.27	2009.12.26	21.2%	146,492
Hulunbeier City Rundafeng	2009.05.27	2009.12.26	21.2%	14,649
Chen Guibin (related party)	2007.10.24	Due on demand	20.6%	131,842
Zhang fengshun (related party)	2008.4.20	Due on demand	16.8%	131,842
Qiujui (related party)	2007.10.24	Due on demand	20.4%	87,895
Total				1,333,074

F-15

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

10.   SHORT-TERM LOAN (Continued)

As of September 30, 2008, the Company had a total of $2,179,708 short-term loans, including the followings:

Lender	Term		Weighted Average Annual Interest rate		Amount
China Construction Bank	2008.01.23	2009.01.23	12.6%	$	441,833
Xinghai Credit Union	2008.03.24	2009.03.12	12.7%		220,916
Xinghai Credit Union	2008.07.28	2009.07.28	13.5%		73,639
Xinghai Credit Union	2008.08.13	2009.08.13	13.5%		73,639
Fengdou Credit Union	2008.01.21	2009.01.21	12.6%		147,278
Fengdou Credit Union	2008.03.24	2009.03.24	14.9%		294,555
Hake Credit Union	2008.03.24	2008.12.10	14.6%		147,278
Hake Credit Union	2008.01.30	2009.01.30	17.9%		44,183
Jianshe Credit Union	2008.01.25	2009.01.24	13.5%		147,278
Jianshe Credit Union	2008.03.20	2008.12.10	14.9%		147,278
Xinda Credit Union	2008.01.30	2009.01.30	13.2%		88,367
Chen Guibin (related party)	2007.10.24	Due on demand	14.6%		132,550
Zhang Gengshun (related party)	2008.4.20	Due on demand	13.8%		132,550
Qiujie (related party)	2007.10.24	Due on demand	12.1%		88,367
Total				$	2,179,708

The Company’s building with an estimate fair value of RMB 5,360,000 (approximately US$785,195) is used as collateral for the $175,790 loan with Xinghai Credit Union. Additionally, the $175,790 loan with Xinghai Credit Union is guaranteed by a non-related party, Hulunbeier Middle Small Corporation Investment Guarantor Limited. The $146,492 and $14,649 loans with Hunlunbeier City Rundafeng are guaranteed by a non-related party, Hulunbeier Jayin Motorcycle Trading Limited.

The loans with three related parties had an original term of 1 year. If the loan was extended beyond the original term, the interest rate would become 50% higher than original interest rate. Therefore, for the loans with Chen Guibin and Qiujie, interest rate was changed to 21.1% on October 24, 2008, and for the loan with Zhang Fengshun, interest rate was changed to 21.1% on April 20, 2009.

As of the date of this report, all short-term loans have been paid off except for the loan with Hulunbeier City Runddafeng with an original loan amount of $146,492 and remaining balance of $131,842, which the Company extended for another year with the same annual interest rate of 21.2%.

Interest expenses were $352,283 and $225,952 for the years ended September 30, 2009 and 2008, respectively.

11.   SHAREHOLDERS’ EQUITY

The Company’s registered capital is RMB 600,000 (approximately US$72,494). The industry practice in PRC does not require the issuance of stock certificates to the shareholders, nor a third party transfer agent to maintain the records. For the purpose of financial reporting, the Company elected to designate one (1) common share for each RMB contributed. Accordingly, there were a total of 600,000 shares issued and outstanding as of September 30, 2008 and 2009.

F-16

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

12.   ADVANCES FROM CUSTOMERS

Advances from customers represent prepayments made by customers for product sales. The Company records these prepayments as advance from customers when the payments are received in advance of shipments and reclassify them to sales once shipments are made. Advances from customers as of September 30, 2009 and 2008 amounted to $3,242,297 and $8,995,176, respectively.

13.   INCOME TAXES

The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

The Company is entitled to a tax holiday of three years for full Enterprise Income Tax exemption in China. The preferential tax treatment commenced in 2006 and will expire on December 31, 2009. The estimated tax savings amounted to $496,351 and $400,023 for the years ended September 30, 2009 and 2008, respectively. The net effect on basic earnings per share had the income tax been applied would decrease earnings per share from $3.31 to $2.48 for the year ended September 30, 2009 and $2.67 to $2.00 for the year ended September 30, 2008.

14.   MAJOR CUSTOMERS

The following table presents sales from major customers with individual sales over 10% of total net revenue for the years ended September 30, 2009 and 2008:

	The Year Ended September 30,
	2009								2008
	Sales		% of sales		Accounts receivable		% of accounts receivable		Sales		% of sales		Accounts receivable		% of account receivable
Harbin Huijiabei	$	7,187,958		32%	$	-		0%	$	-		0%	$	-		0%
Qingdao Suokang		2,685,252		12%		1,211,062		51%		2,476,186		13%		-		0%
Guangzhou Shien		-		0%		-		0%		13,640,305		70%		41,836		8%
Total	$	9,873,210		43%	$	1,211,062		51%	$	16,116,492		83%	$	41,836		8%

F-17

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2009 AND 2008

15.   MAJOR VENDORS

There was only one major vendor, Shanghai Aolang, from whom the Company’s purchase were over 10% of total raw material purchased for the years ended September 30, 2009 and 2008. The purchase from this vendor totaled $757,073 (12.8%) and $3,647,154 (14.7%) for the years ended September 30, 2009 and 2008, respectively.

16.   SUBSEQUENT EVENT

On February 5, 2010, the Company entered into an Equity Transfer Agreement (“Agreement”) with Tengshun Technology and Development Co., Ltd. (“Tengshun Technology”), a wholly-owned subsidiary of Rodobo International, Inc. (“Rodobo”), a public company traded on the OTC Bulletin Board. Pursuant to the Agreement, Tengshun Technology agreed to acquire 100% of the equity interest in the Company for a cash payment of RMB600,000 (approximately $87,884),  8,800,000 shares of Rodobo’s common stock and 2,000,000 shares of Rodobo’s Series A Preferred Stock.

F-18

EX-99.6

Exhibit 99.6

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

BALANCE SHEETS

	December 31,		September 30,
	2009		2009
	(Unaudited)		(Audited)
ASSETS
Current assets:
Cash and cash equivalents	$	1,174,439	$	198,551
Accounts receivable - net of allowance for bad debts of
$7,787 and $7,787, respectively		3,924,234		2,390,352
Other recievables		94,679		-
Due from related parties		1,413,622		2,529,792
Loan to others		1,559,990		733,103
Tax receivable		22,065		124,142
Inventories		1,473,634		2,882,983
Prepaid expenses		-		49,806
Advances to suppliers - net of allowance of
$160,004 and $160,020, respectively		3,171,566		4,142,197
Total current assets		12,834,229		13,050,926
Property, plant and equipment, net		10,810,049		10,903,037
Other assets:
Restricted cash		39,549		39,553
Loan to shareholders		88,881		88,890
Intangible assets, net		648,687		652,298
Total other assets		777,117		780,741
Total assets	$	24,421,395	$	24,734,704
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	1,557,837	$	1,505,050
Short-term loan		1,259,700		1,333,074
Other payables		86,992		72,816
Accrued expenses		526,866		548,346
Advances from customers		2,585,971		3,242,297
Total current liabilities		6,017,366		6,701,583
Shareholders' equity
Registered capital		72,494		72,494
Additional paid in capital		11,023,102		11,023,102
Retained earnings		5,988,514		5,615,803
Accumulated other comprehensive income		1,319,919		1,321,722
Total shareholders' equity		18,404,029		18,033,121
Total liabilities and shareholders' equity	$	24,421,395	$	24,734,704

The accompanying notes are an integral part of these financial statements

F-1

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

STATEMENTS OF OPERATIONS

(UNAUDITED)

	For The Three Months Ended December 31
	2009			2008
Net sales	$	4,242,294		$	5,235,883
Cost of goods sold		3,605,391			4,884,022
Gross profit		636,903			351,861
Operating expenses:
Distribution expenses		18,040			66,250
General and administrative expenses		104,415			57,358
Total operating expenses		122,455			123,608
Operating income		514,448			228,253
Interest expenses		141,737			99,644
Income before income taxes		372,711			128,609
Provision for income taxes		-			-
Net income	$	372,711		$	128,609
Other comprehensive income:
Foreign currency translation adjustment		(1,803	)		(49,455	)
Comprehensive income	$	370,909		$	79,154
Earnings per share
Basic and diluted	$	0.62		$	0.21
Weighted average shares outstanding
Basic and diluted		600,000			600,000

The accompanying notes are an integral part of these financial statements

F-2

HUNLUNBEIER HAILAER BEIXUE DAIRY FACTORY

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For The Three Months Ended December 31,
	2009			2008
Cash flows from operating activities
Net income	$	372,711		$	128,609
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization		184,996			183,766
Changes in assets and liabilities:
(Increase) decrease in -
Accounts receivable and other receivables		(1,628,715	)		(5,624,956	)
Tax receivable		102,059			2,189,878
Inventories		1,408,982			304,777
Prepaid expenses		49,799			-
Advances to suppliers		970,160			2,413,702
Increase (decrease) in -
Accounts payable and other payable		67,119			1,157,000
Accrued expenses		(21,424	)		(128,752	)
Advances from customers		1,121,980			(341,747	)
Net cash provided by operating activities		2,627,667			282,277
Cash flows from investing activities
Purchase of fixed assets		(89,571	)		(1,245,567	)
Loan to others		(826,917	)		-
Loan to related parties		(662,089	)		-
Repayment from related parties		-			1,977,148
Net cash (used in) provided by investing activities		(1,578,577	)		731,581
Cash flows from financing activities
Proceeds from short-term loan		776,285			-
Repayment of short-term loan		(849,520	)		(336,283	)
Repayment of shareholder loans		-			(149,719	)
Net cash used in financing activities		(73,235	)		(486,002	)
Effect of exchange rate changes on cash and cash equivalents		33			(4,175	)
Net increase in cash and cash equivalents		975,888			523,681
Cash and cash equivalents, beginning of period		198,551			1,148,644
Cash and cash equivalents, end of period	$	1,174,439		$	1,672,324
Supplemental disclosures of cash flow information:
Interest paid	$	5,704		$	95,976
Income taxes paid	$	-		$	-
Non-cash financing activities:
Liabilities converted to equity	$	-		$	1,208,964

The accompanying notes are an integral part of these financial statements

F-3

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

1.   ORGANIZATION AND BASIS OF PRESENTATION

Hulunbeier Hailaer Beixue Dairy Factory (the "Company"), established on February 4, 2002 under the laws of the People’s Republic of China (“PRC” or “China”), is engaged in the production, processing, distribution and development of powdered milk products in the PRC.

The accompanying unaudited financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. Accordingly, they may not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended December 31, 2009 and 2008 are not necessarily indicative of the results that may be expected for the full years.

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

USE OF ESTIMATES - The preparation of financial statements in accordance with generally accepted accounting principles require management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

RISKS OF LOSSES - The Company is potentially exposed to risks of losses that may result from business interruptions, injury to others (including employees) and damage to property.  These losses may be uninsured, especially due to the fact that the Company's operations are in China, where business insurance is not readily available.  If: (i) information is available before the Company's financial statements are issued or are available to be issued indicates that such loss is probable and (ii) the amount of the loss can be reasonably estimated, an estimated loss will be accrued by a charge to income.  If such loss is probable but the amount of loss cannot be reasonably estimated, the loss shall be charged to the income of the period in which the loss can be reasonably estimated and shall not be charged retroactively to an earlier period.  As of December 31, 2009 and 2008, the Company has not experienced any uninsured losses from injury to others or other losses.

SUBSEQUENT EVENTS - The Company has evaluated subsequent events that have occurred through the filing date and disclosed it in note 14.

CASH AND CASH EQUIVALENTS - The Company considers cash and cash equivalents to include cash on hand and deposits with banks with an original maturity of three months or less.

ACCOUNTS RECEIVABLE - The Company's policy is to maintain reserves for potential credit losses on accounts receivable. Provision is made against accounts receivable to the extent which they are considered to be doubtful. Accounts receivable in the balance sheet is stated net of such provision.

F-4

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

INVENTORIES - Inventories comprise raw materials, work in progress, finished goods and packing materials and are stated at the lower of cost or market value. Cost is calculated using the weighted average method and includes all costs to acquire and any overhead costs incurred in bringing the inventories to their present location and condition. Overhead costs included in finished goods inventory include direct labor cost and other costs directly applicable to the manufacturing process, including utilities, supplies, repairs and maintenances, and depreciation expense. Market value represents the estimated selling price in the ordinary course of business less the estimated costs necessary to complete the sale. Management compares the cost of inventory with market value and an allowance is made for writing down the inventory to its market value, if lower.  Management writes off obsolete inventory when it occurs.

PROPERTY, PLANT AND EQUIPMENT - Property, plant and equipment are recorded at cost. Expenditures for major additions and improvements are capitalized and minor replacements, maintenance, and repairs are charged to expense as incurred. When property, plant and equipment are retired or otherwise disposed of, the cost and accumulated depreciation are removed from the accounts and any resulting gain or loss is included in the results of operations for the respective period. Depreciation is provided over the estimated useful lives of the related assets on a straight-line basis. The estimated useful lives for significant property, plant and equipment categories are as follows:

Building	30 years
Machinery, equipment and automobiles	5-10 years

Construction in progress represents the direct costs of construction or acquisition incurred. Upon completion and readiness for use of the assets, capitalization of these costs ceases and the cost of construction in progress is transferred to fixed assets. No depreciation is provided until the project is completed and the assets are ready for intended use.

The Company periodically reviews the carrying value of long-lived assets in accordance with ASC 360, “Property, Plant, and Equipment”. When estimated future cash flows generated by those assets are less than the carrying amounts of the assets, the Company recognizes an impairment loss equal to the amount by which the carrying value exceeded the fair value of assets. Based on its review, the Company has determined that there were no impairments of its long-lived assets as of December 31, 2009.

REVENUE RECOGNITION - The Company's revenue recognition policies are in compliance with ASC 605. Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured.

ADVANCES FROM CUSTOMERS - Revenue from the sale of goods is recognized when goods are delivered. Non-refundable receipts in advance for goods to be delivered in the subsequent year are carried forward as deferred revenue.

F-5
 

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

EMPLOYEE BENEFIT COSTS - Mandatory contributions are made to the Chinese Government’s health, retirement benefit and unemployment schemes at the statutory rates in force during the period, based on gross salary payments. The cost of these payments is charged to the statement of income in the same period as the related salary cost.

COMPREHENSIVE INCOME – Comprehensive income is defined to include changes in equity except those resulting from investments by owners and distributions to owners. Among other disclosures, items that are required to be recognized under current accounting standards as components of comprehensive income are required to be reported in a financial statement that is presented with the same prominence as other financial statements. Comprehensive income includes net income and the foreign currency translation gain, net of tax.

EARNINGS PER SHARE – The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

TAXATION - The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

FOREIGN CURRENCY TRANSLATION - The Company's principal country of operations is the PRC. The financial position and results of operations of the Company are determined using the local currency ("RMB") as the functional currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the balance sheet. Translation adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders' equity as "Accumulated Other Comprehensive Income".

F-6
 

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

FAIR VALUE OF FINANCIAL INSTRUMENTS - The carrying amounts of certain financial instruments, including cash, accounts receivable, other receivables, accounts payable, accrued expenses, advances from customers, and other payables approximate their fair values as of December 31, 2009 and 2008 due to the relatively short-term nature of these instruments.

CONCENTRATIONS OF BUSINESS AND CREDIT RISK - The Company maintains certain bank accounts in the PRC which are not protected by insurance.

The Company's operations are carried out in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC and the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in the North America and Western Europe. The Company's operating results may be adversely affected by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things.

NEW ACCOUNTING PRONOUNCEMENTS – In January 2010, FASB issued ASU No. 2010-06 – Improving Disclosures about Fair Value Measurements. This update provides amendments to Subtopic 820-10 that requires new disclosure as follows: 1) Transfers in and out of Levels 1 and 2.  A reporting entity should disclose separately the amounts of significant transfers in and out of Level 1 and Level 2 fair value measurements and describe the reasons for the transfers.  2)  Activity in Level 3 fair value measurements.  In the reconciliation for fair value measurements using significant unobservable inputs (Level 3), a reporting entity should present separately information about purchases, sales, issuances, and settlements (that is, on a gross basis rather than as one net number). This update provides amendments to Subtopic 820-10 that clarifies existing disclosures as follows: 1) Level of disaggregation. A reporting entity should provide fair value measurement disclosures for each class of assets and liabilities. A class is often a subset of assets or liabilities within a line item in the statement of financial position. A reporting entity needs to use judgment in determining the appropriate classes of assets and liabilities. 2) Disclosures about inputs and valuation techniques. A reporting entity should provide disclosures about the valuation techniques and inputs used to measure fair value for both recurring and nonrecurring fair value measurements. Those disclosures are required for fair value measurements that fall in either Level 2 or Level 3. The new disclosures and clarifications of existing disclosures are effective for interim and annual reporting periods beginning after December 15, 2009, except for the disclosures about purchases, sales, issuances, and settlements in the roll forward of activity in Level 3 fair value measurements. Those disclosures are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU, however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-7
 

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In January 2010, FASB issued ASU No. 2010-02 – Accounting and Reporting for Decreases in Ownership of a Subsidiary – a Scope Clarification. The amendments in this Update affect accounting and reporting by an entity that experiences a decrease in ownership in a subsidiary that is a business or nonprofit activity. The amendments also affect accounting and reporting by an entity that exchanges a group of assets that constitutes a business or nonprofit activity for an equity interest in another entity.  The amendments in this update are effective beginning in the period that an entity adopts SFAS No. 160, “Non-controlling Interests in Consolidated Financial Statements – An Amendment of ARB No. 51.” If an entity has previously adopted SFAS No. 160 as of the date the amendments in this update are included in the Accounting Standards Codification, the amendments in this update are effective beginning in the first interim or annual reporting period ending on or after December 15, 2009. The amendments in this update should be applied retrospectively to the first period that an entity adopted SFAS No. 160. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In January 2010, FASB issued ASU No. 2010-01- Accounting for Distributions to Shareholders with Components of Stock and Cash. The amendments in this Update clarify that the stock portion of a distribution to shareholders that allows them to elect to receive cash or stock with a potential limitation on the total amount of cash that all shareholders can elect to receive in the aggregate is considered a share issuance that is reflected in EPS prospectively and is not a stock dividend for purposes of applying Topics 505 and 260 (Equity and Earnings Per Share). The amendments in this update are effective for interim and annual periods ending on or after December 15, 2009, and should be applied on a retrospective basis. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

F-8

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

In December 2009, FASB issued ASU No. 2009-17, Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 167, Amendments to FASB Interpretation No. 46(R). The amendments in this Accounting Standards Update replace the quantitative-based risks and rewards calculation for determining which reporting entity, if any, has a controlling financial interest in a variable interest entity with an approach focused on identifying which reporting entity has the power to direct the activities of a variable interest entity that most significantly impact the entity’s economic performance and (1) the obligation to absorb losses of the entity or (2) the right to receive benefits from the entity. An approach that is expected to be primarily qualitative will be more effective for identifying which reporting entity has a controlling financial interest in a variable interest entity. The amendments in this Update also require additional disclosures about a reporting entity’s involvement in variable interest entities, which will enhance the information provided to users of financial statements. The Company is currently evaluating the impact of this ASU; however, the Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In December 2009, FASB issued ASU No. 2009-16, Accounting for Transfers of Financial Assets. This Accounting Standards Update amends the FASB Accounting Standards Codification for the issuance of FASB Statement No. 166, Accounting for Transfers of Financial Assets—an amendment of FASB Statement No. 140.The amendments in this Accounting Standards Update improve financial reporting by eliminating the exceptions for qualifying special-purpose entities from the consolidation guidance and the exception that permitted sale accounting for certain mortgage securitizations when a transferor has not surrendered control over the transferred financial assets. In addition, the amendments require enhanced disclosures about the risks that a transferor continues to be exposed to because of its continuing involvement in transferred financial assets. Comparability and consistency in accounting for transferred financial assets will also be improved through clarifications of the requirements for isolation and limitations on portions of financial assets that are eligible for sale accounting. The Company does not expect the adoption of this ASU to have a material impact on its financial statements.

In October 2009, the FASB issued an ASU regarding accounting for own-share lending arrangements in contemplation of convertible debt issuance or other financing.  This ASU requires that at the date of issuance of the shares in a share-lending arrangement entered into in contemplation of a convertible debt offering or other financing, the shares issued shall be measured at fair value and be recognized as an issuance cost, with an offset to additional paid-in capital. Further, loaned shares are excluded from basic and diluted earnings per share unless default of the share-lending arrangement occurs, at which time the loaned shares would be included in the basic and diluted earnings-per-share calculation.  This ASU is effective for fiscal years beginning on or after December 15, 2009, and interim periods within those fiscal years for arrangements outstanding as of the beginning of those fiscal years. The Company is currently evaluating the impact of this ASU on its financial statements.

F-9
 

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

3.   ACCOUNTS RECEIVABLE

The Company’s accounts receivable as of December 31, 2009 and September 30, 2009 are summarized as follows:

	December 31, 2009		September 30, 2009
Accounts receivable	$	3,932,021	$	2,398,139
Less: Allowance for doubtful accounts		7,787		7,787
Total net accounts receivable	$	3,924,234	$	2,390,352

4.   LOAN TO OTHERS

The Company occasionally provides loans to non-related companies in order to develop favorable business relationship. These loans are usually free of interest and due upon demand. The Company had outstanding loans of $1,559,990 and $733,103 to one non-related company as of December 31, 2009 and September 30, 2009, respectively. No allowance is considered necessary because the Company has collected part of the loan and has determined the rest of the loan is collectable.

5.   INVENTORIES

Inventories consist of the following as of December 31, 2009 and September 30, 2009:

	December 31, 2009		September 30, 2009
Raw materials	$	124,802	$	221,533
Work-in-progress		551,151		685,355
Finished goods		797,681		1,976,095
Total inventories	$	1,473,634	$	2,882,983

6.   ADVANCES TO SUPPLIERS

The Company makes advances to certain vendors for inventory purchases. The Company had $3,331,570 and $4,302,217 of gross advances to suppliers while the Company has not received the relevant inventory as of December 31, 2009 and September 30, 2009, respectively. The allowances for advances to suppliers were $160,004 and $160,020 as of December 31, 2009 and September 30, 2009, respectively.

F-10

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

7.   FIXED ASSETS

Fixed assets consist of the following as of December 31, 2009 and September 30, 2009:

	December 31, 2009			September 30, 2009
Building	$	6,473,192		$	6,473,847
Plant and machinery		5,939,627			5,850,642
Motor vehicles		458,917			458,964
Computers and equipment		62,584			62,590
		12,934,320			12,846,042
Less: accumulated depreciation		(2,124,271	)		(1,943,005	)
Total fixed assets, net	$	10,810,049		$	10,903,037

Depreciation expense was $181,452 and $180,228 for the three months ended December 31, 2009 and 2008, respectively.

8.   INTANGIBLE ASSETS

All land in the People’s Republic of China is government owned and cannot be sold to any individual or company. However, the government grants the user a “land use right” to use the land and the power line underneath. The Company entered into a land use right agreement on October 14, 2002 with Inner Mongolia Autonomous Region Hulunbeier City Land Management Bureau, which sets forth the right to use a 21,139 square meters land for 50 years from September 26, 2005 to September 26, 2055. Under the agreement, the total fees amounted to RMB 4.84 million (approximately US$709,019). The land use right is amortized on a straight line basis over 50 years. Amortization expense was $3,545 and $3,538 for the three months ended December 31, 2009 and 2008, respectively.

Net intangible assets at December 31, 2009 and September 30, 2009:

	December 31, 2009			September 30, 2009
Land use right	$	708,948		$	709,020
Less: accumulated amortization		(60,261	)		(56,722	)
Total intangible assets, net	$	648,687		$	652,298

Based upon current assumptions, the Company expects that the land use right will be amortized according to the following schedule:

	As of December 31,
2010	$	14,179
2011		14,179
2012		14,179
2013		14,179
2014		14,179
Thereafter		577,792
	$	648,687

F-11

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

9.   RELATED PARTY TRANSACTIONS

As of December 31, 2009, the Company had $88,881 loans to shareholders and $1,413,622 due from related parties, of which $951,055 was due from Ewenkeqi Beixue Dairy Co., Ltd. and $462,567 was due from Hulunbeier Beixue Dairy Co., Ltd. As of September 30, 2009, the Company had $88,890 loans to shareholders and $2,529,792 due from related parties, including $1,778,218 due from Ewenkeqi Beixue Dairy Co., Ltd. and $751,574 due from Hulunbeier Beixue Dairy Co., Ltd.

There were no related party sales or purchases for the three months ended December 31, 2009 and 2008.

10.   SHORT-TERM LOAN

As of December 31, 2009, the Company had a total of $1,259,700 short-term loans, including the followings:

Lender	Term		Weighted Average Annual Interest rate	Amount
Xinghai Credit Union	2009.07.06	2010.07.05	9.6%	351,544
Xinghai Credit Union	2009.12.04	2010.12.01	10.7%	644,498
Hulunbeier City Rundafeng	2009.05.27	2010.03.26	21.2%	131,829
Qiujui (related party)	2009.12	2010.12	10.1%	121,829
Total				1,259,700

As of September 30, 2009, the Company had a total of $1,333,074 short-term loans, including the followings:

Lender	Term		Weighted Average Annual Interest rate	Amount
Xinghai Credit Union	2009.07.06	2010.07.05	9.6%	351,580
Xinghai Credit Union	2009.03.12	2010.03.12	10.7%	175,790
Zhang fengshun (related party)	2009.03.20	Due on demand	9.8%	292,983
Hulunbeier City Rundafeng	2009.05.27	2009.12.26	21.2%	146,492
Hulunbeier City Rundafeng	2009.05.27	2009.12.26	21.2%	14,649
Chen Guibin (related party)	2007.10.24	Due on demand	20.6%	131,842
Zhang fengshun (related party)	2008.4.20	Due on demand	16.8%	131,842
Qiujui (related party)	2007.10.24	Due on demand	20.4%	87,895
Total				1,333,074

The Company’s building with an estimate fair value of RMB 5,360,000 (approximately US$785,195) is used as collateral for the $175,790 loan with Xinghai Credit Union. Additionally, the $175,790 loan with Xinghai Credit Union is guaranteed by a non-related party, Hulunbeier Middle Small Corporation Investment Guarantor Limited. The $146,492 and $14,649 loans with Hunlunbeier City Rundafeng are guaranteed by a non-related party, Hulunbeier Jayin Motorcycle Trading Limited.

F-12

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

The loans with three related parties had an original term of 1 year. If the loan was extended beyond the original term, the interest rate would become 50% higher than original interest rate. Therefore, for the loans with Chen Guibin and Qiujie, interest rate was changed to 21.1% on October 24, 2008, and for the loan with Zhang Fengshun, interest rate was changed to 21.1% on April 20, 2009.

10.   SHORT-TERM LOAN (Continued)

As of the date of this report, all existing short-term loans have not been paid off yet. The Company extended the loan with Hulunbeier City Runddafeng with remaining balance of $131,829 for another year with the same annual interest rate of 21.2%.

Interest expenses were $141,230 and $97,152 for the three months ended December 31, 2009 and 2008, respectively.

11.   SHAREHOLDERS’ EQUITY

The Company’s registered capital is RMB 600,000 (approximately US$72,494). The industry practice in PRC does not require the issuance of stock certificates to the shareholders, nor a third party transfer agent to maintain the records. For the purpose of financial reporting, the Company elected to designate one (1) common share for each RMB contributed. Accordingly, there were a total of 600,000 shares issued and outstanding as of December 31, 2009 and September 30, 2009.

12.   INCOME TAXES

The Company utilizes ASC 740, “Income Taxes", which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax bases of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to realized.

The Company is entitled to a tax holiday of three years for full Enterprise Income Tax exemption in China. The preferential tax treatment commenced in 2006 and will expire on December 31, 2009. The estimated tax savings amounted to $93,178 and $32,152 for the three months ended December 31, 2009 and 2008, respectively. The net effect on basic earnings per share had the income tax been applied would decrease earnings per share from $0.62 to $0.47 for the three months ended December 31, 2009 and $0.21 to $0.16 for the three months ended December 31, 2008.

13.   MAJOR CUSTOMERS

For the three months ended December 31, 2009, no single customer accounted for sales over 10% of total sales. For the three months ended December 31, 2008, four (4) customers accounted for sales over 10% of total sales. The total sales to these four customers accounted for 84% of total sales for the three months ended December 31, 2008. Accounts receivable from these four customers was $3,372,769, approximately 55% of total accounts receivable as of December 31, 2008.

F-13

HULUNBEIER HAILAER BEIXUE DAIRY FACTORY

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009 AND 2008

14.   SUBSEQUENT EVENT

On February 5, 2010, the Company entered into an Equity Transfer Agreement (“Agreement”) with Tengshun Technology and Development Co., Ltd. (“Tengshun Technology”), a wholly-owned subsidiary of Rodobo International, Inc. (“Rodobo”), a public company traded on the OTC Bulletin Board. Pursuant to the Agreement, Tengshun Technology agreed to acquire 100% of the equity interest in the Company for a cash payment of RMB600,000 (approximately $87,884),  8,800,000 shares of Rodobo’s common stock and 2,000,000 shares of Rodobo’s Series A Preferred Stock.

F-14

EX-99.7

Exhibit 99.7

RODOBO INTERNATIONAL, INC.

UNAUDITED PRO FORMA CONDENSED COMBINED BALANCE SHEETS

December 31, 2009

												Pro Forma				Pro Forma
	Rodobo			Hailaer		Ewenkeqi			Hulunbeier			Adjustments			Notes	Combined
ASSETS
Current assets:
Cash and cash equivalents	$	2,876,418		$	1,174,439	$	15,762		$	8,194			(307,593	)	a	$	3,767,220
Accounts receivable, net		3,533,430			3,924,234		-			164,489							7,622,153
Other receivable		11,978			116,744		-			-							128,722
Due from related parties		-			1,413,622		-			-			(1,413,622	)	b		-
Loan to others		-			1,559,990		-			-							1,559,990
Inventories		562,560			1,473,634		26,471			979							2,063,644
Prepaid expenses		226,542			-		-			21,140							247,682
Advances to suppliers, net		-			3,171,566		-			-							3,171,566
Total current assets		7,210,929			12,834,229		42,233			194,802							18,560,978
Property, plant and equipment, net of accumulated depreciation		1,985,487			10,810,049		1,461,856			4,656,077			1,292,441		c		20,205,910
Biological assets, net		2,439,713			-		-			-							2,439,713
Other assets:
Investment advances		410,135			-		-			-							410,135
Restricted cash		-			39,549		-			-							39,549
Loan to shareholders		-			88,881		1,655,624			-							1,744,505
Deposits on biological assets		988,718			-		-			-							988,718
Deposits on land and equipment		9,520,991			-		-			-							9,520,991
Intangible assets, net		4,462,142			648,687		-			675,702			4,882,234		d		10,668,765
Total other assets		15,381,986			777,117		1,655,624			675,702							23,372,663
Total Assets	$	27,018,115		$	24,421,395	$	3,159,713		$	5,526,581						$	64,579,265
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	1,518,958		$	1,557,837	$	31,320		$	48,675						$	3,156,789
Short-term loan		-			1,259,700		-			-							1,259,700
Other payable		290,149			86,992		3,548			-							380,689
Accrued expenses		70,248			526,866		20,400			4,251							621,765
Advance from customers		-			2,585,971		-			10,283							2,596,254
Loan from shareholders		-			-		-			1,933,845							1,933,845
Due to related parties		1,185,054			-		951,055			462,567			(1,413,622	)	b		1,185,054
Total current liabilities		3,064,409			6,017,366		1,006,322			2,459,621							11,134,096
Temporary equity - series A preferred stock, $0.0001 par value, 30,000,000 shares authorized, 2,000,000 shares issued and outstanding as of December 31, 2009		-			-		-			-			4,100,000		e		4,100,000
Stockholders' equity
Common stock, $0.0001 par value, 200,000,000 shares authorized, 26,892,614 shares  issued and outstanding as of December 31, 2009		1,629			-		-			-			1,060		f		2,689
Registered capital		-			72,494		60,412			129,206			(262,112	)	g		-
Additional paid in capital		13,936,367			11,023,102		2,325,484			2,983,183			7,517,171		f, g		37,785,307
Additional paid in capital - warrants		971,788			-		-			-							971,788
Subscription receivable		(50,000	)		-		-			-							(50,000	)
Retained earnings		8,250,895			5,988,514		(399,253	)		(188,111	)		(3,859,688	)	h		9,792,357
Accumulated other comprehensive income		843,027			1,319,919		166,747			142,682			(1,629,348	)	i		843,027
Total stockholders' equity		23,953,706			18,404,029		2,153,390			3,066,960							49,345,168
Total Liabilities and Stockholders' Equity	$	27,018,115		$	24,421,395	$	3,159,713		$	5,526,581						$	64,579,265

The accompanying notes are an integral part of these financial statements

1

RODOBO INTERNATIONAL, INC.

UNAUDITED PRO FROMA CONDENSED COMBINED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED DECEMBER 31, 2009

													Pro Forma			Pro Forma
	Rodobo			Hailaer			Ewenkeqi			Hulunbeier			Adjustments		Notes	Combined
Net sales	$	10,075,445		$	4,242,294		$	-		$	-					$	14,147,888
Cost of goods sold		4,780,299			3,605,391			-			-						8,215,838
Gross profit		5,295,146			636,903			-			-						5,932,050
Operating expenses:
Distribution expenses		2,586,173			18,040			-			-						2,604,213
General and administrative expenses		722,880			104,415			1,509			-			402,437	l		1,231,240
Total operating expenses		3,309,053			122,455			1,509			-						3,835,453
Operating income		1,986,094			514,448			(1,509	)		-						2,096,596
Subsidy income		273,897			-			-			-						273,897
Interest expenses		-			(141,737	)		-			-						(141,737	)
Other income / (expenses)		2,390			-			-			23,533						25,923
Income before income taxes		2,262,381			372,711			(1,509	)		23,533						2,254,679
Provision for income taxes		-			-			-			-						-
Net income	$	2,262,381		$	372,711		$	(1,509	)	$	23,533					$	2,254,679
Other comprehensive income:
Foreign currency translation adjustment		(2,184	)		(1,803	)		(218	)		(307	)					(4,511	)
Comprehensive income	$	2,260,197		$	370,909		$	(1,727	)	$	23,226					$	2,250,168
Earnings per share
Basic	$	0.15		$	0.62		$	(0.00	)	$	0.02					$	0.15
Diluted	$	0.13		$	0.62		$	(0.00	)	$	0.02					$	0.13
Weighted average shares outstanding
Basic		15,212,690			600,000			500,000			1,000,000						15,212,690
Diluted		16,914,508			600,000			500,000			1,000,000						16,914,508

The accompanying notes are an integral part of these financial statements

2

RODOBO INTERNATIONAL, INC.

UNAUDITED PRO FROMA CONDENSED COMBINED STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED SEPTEMBER 30, 2009

													Pro Forma				Pro Forma
	Rodobo			Hailaer			Ewenkeqi			Hulunbeier			Adjustments			Notes	Combined
Net sales	$	34,690,987		$	22,456,948		$	63,133		$	424,798		$	(63,133	)	j	$	55,796,551
Cost of goods sold		17,089,006			19,565,073			89,933			586,387			(63,133	)	k		35,491,085
Gross profit		17,601,981			2,891,875			(26,800	)		(161,589	)						20,305,467
Operating expenses:
Distribution expenses		9,790,602			184,231			-			5,242							9,980,075
General and administrative expenses		1,454,994			373,796			5,252			27,339			1,609,747		l		3,471,127
Total operating expenses		11,245,596			558,027			5,252			32,581							13,451,202
Operating income		6,356,385			2,333,848			(32,052	)		(194,170	)						6,854,265
Subsidy income		439,208			-			-			-							439,208
Interest expenses		-			(348,444	)		-			-							(348,444	)
Other income / (expenses)		-			-			(13,444	)		(9,672	)						(23,116	)
Income before income taxes		6,795,593			1,985,404			(45,496	)		(203,842	)						6,921,912
Provision for income taxes		-			-			-			-							-
Net income	$	6,795,593		$	1,985,404		$	(45,496	)	$	(203,842	)					$	6,921,912
Other comprehensive income:
Foreign currency translation adjustment		(42,274	)		(48,852	)		(880	)		(63,806	)						(155,812	)
Comprehensive income	$	6,753,319		$	1,936,552		$	(46,376	)	$	(267,648	)					$	6,766,100
Earnings per share
Basic	$	1.01		$	3.31		$	(0.09	)	$	(0.20	)					$	1.03
Diluted	$	0.42		$	3.31		$	(0.09	)	$	(0.20	)					$	0.43
Weighted average shares outstanding
Basic		6,708,121			600,000			500,000			1,000,000							6,708,121
Diluted		16,026,645			600,000			500,000			1,000,000							16,026,645

The accompanying notes are an integral part of these financial statements

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NOTES TO UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL STATEMENTS

Note 1: Description of transaction and basis of presentation

On February 5, 2010, Rodobo International, Inc. (the “Company” or “Rodobo”), through its wholly-owned subsidiary, Tengshun Technology and Development Co., Ltd., acquired 100% of the equity interest in Hulunbeier Hailaer Beixue Dairy Factory (“Hailaer Beixue”), Ewenkeqi Beixue Dairy, Ltd. (“Ewenkeqi Beixue”), and Hulunbeier Beixue Dairy Co., Ltd (“Hulunbeier Beixue”).The acquisition has been accounted for as a purchase under accounting principles generally accepted in the United States (GAAP). Under the purchase method of accounting, in accordance with Statement of Financial Accounting Standards No. 141(R), Business Combinations, the assets and liabilities of Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue are recorded as of the acquisition date at their respective fair values, and consolidated with the Company’s assets and liabilities.

Note 2: Purchase Price

For the purposes of this pro forma analysis, the purchase price has been allocated based on an estimate of the fair value of assets and liabilities acquired as of the date of acquisition. The determination of estimated fair value requires management to make significant estimates and assumptions.

Hailaer Beixue:

Cash paid	$	87,884
Fair value of common stock issued		19,800,000
Fair value of Series A preferred stock issued		4,100,000
Total purchase price	$	23,987,884
Assets
Cash and cash equivalents	$	1,339,645
Accounts receivable, net		4,009,453
Other receivable		3,202,939
Inventories		1,829,438
Prepaid expenses		3,331,526
Property, plant and equipment, net		12,525,546
Restricted cash		39,548
Intangible assets, net		5,411,337
Total assets	$	31,689,432
Liabilities
Accounts payable	$	2,376,376
Short-term loan		1,127,856
Other payables		106,130
Accrued expenses		477,001
Advances from customers		2,585,937
Total liabilities	$	6,673,300
Gain on bargin purchase*	$	1,028,248
Estimated purchase price	$	23,987,884

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Ewenkeqi Beixue:

Cash paid	$	73,236
Fair value of common stock issued		1,800,000
Total purchase price	$	1,873,236
Assets
Cash and cash equivalents	$	15,762
Other receivable		1,655,603
Inventories		26,470
Property, plant and equipment, net		1,237,614
Total assets	$	2,935,449
Liabilities
Accounts payable	$	31,319
Other payables		954,591
Accrued expenses		20,399
Total liabilities	$	1,006,309
Gain on bargin purchase*	$	55,904
Estimated purchase price	$	1,873,236

Hulunbeier Beixue:

Cash paid	$	146,473
Fair value of common stock issued		2,250,000
Total purchase price	$	2,396,473
Assets
Cash and cash equivalents	$	8,194
Accounts receivable		164,487
Inventories		979
Prepaid expenses		21,139
Property, plant and equipment, net		4,457,264
Intangible assets, net		795,286
Total assets	$	5,447,349
Liabilities
Accounts payable	$	48,675
Other payables		2,398,873
Accrued expenses		176
Advances from customers		10,284
Total liabilities	$	2,458,008
Gain on bargin purchase*	$	592,868
Estimated purchase price	$	2,396,473

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* The gain on bargain purchase will be recorded as a separate component of revenues in the Company’s Form 10-Q for the quarter ended March 31, 2010.

Note 3: Pro Forma Adjustments

Adjustments included in the column under the heading “Pro Forma Adjustments” primarily relate to the following:

a:  Represents cash payment in connection with the acquisitions of Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue.

b: Represents the elimination of intercompany due to and due from between Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue.

c: Represents an adjustment to fixed assets at costs to bring them to their fair value for purchase accounting purposes.

d: Represents an adjustment to intangible assets to bring them to their fair value for purchase accounting purposes.

e: Represent issuance of Series A preferred stock for acquisition.

f: Represent issuance of common stock for acquisition.

g: Represent an adjustment to eliminate the registered capital of Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue upon acquisition and consolidation into the Company’s financial statements.

h: Represent the elimination of the historical balance of retained earnings (accumulated deficits) of Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue and the extraordinary gain on bargain purchase recognized

on the acquisition date.

i: Represent the elimination of the historical balance of accumulated other comprehensive income of Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue.

j: Represent the elimination of intercompany sales between Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue.

k: Represent the elimination of cost of goods sold due to intercompany sales between Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue. All products purchased through intercompany sales were sold in the same period.

l: Represent an adjustment of depreciation expense of fixed assets and amortization expense of intangible assets as historically reported by Hailaer Beixue, Ewenkeqi Beixue and Hulunbeier Beixue on a fair value basis for purchase accounting purposes.

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