Revenue Recognition The Company recognizes sales in accordance with FASB ASC Topic 605, "Revenue Recognition." The Company recognizes revenue when the following criteria are met: (i) persuasive evidence of an arrangement exists; (ii) delivery has occurred or services were rendered; (iii) the price to the customer is fixed or determinable and, (iv) collection of the resulting receivable is reasonably assured. Revenue is not recognized until title and risk of loss is transferred to the customer, which occurs upon delivery of goods, and objective evidence exists that customer acceptance provisions were met. The Company bases its estimates on historical experience taking into consideration the type of products sold, the type of customer, and the type of specific transaction in each arrangement. Revenues represent the invoiced value of goods, net of value added tax ("VAT"). The Company does not offer promotional payments, customer coupons, rebates or other cash redemption offers to its customers. Deposits or advance payments from customers prior to delivery of goods and passage of title of goods are recorded as advanced from customers. The Company's discontinued operation, Nollec Wireless is in the mobile phone design, software integration and mobile solution R&amp;D business, Nollec Wireless, recognizes revenue under the percentage of completion method ASC Topic 605- 35-25 (Construction - Type and Production - Type Contracts) when reasonably dependable estimates can be made and all the following conditions exist: Contracts executed by the parties normally include provisions that clearly specify the enforceable rights regarding goods or services to be provided and received by the parties, the consideration to be exchanged, and the manner and terms of settlement. The buyer can be expected to satisfy all obligations under the contract. The contractor can be expected to perform all contractual obligations. Estimates of cost to complete is reviewed periodically and revised as appropriate to reflect new information. When t