Kent Intl Holdings - Common stock, $.002 par value; 10,000,000...

Kent Intl Holdings - Recent Material Event

Item 1. Financial Statements

Balance Sheet as of September 30, 2007	3

Statements of Operations
Three and Nine Months Ended September 30, 2007 and 2006	4

Statements of Cash Flows
Nine Months Ended September 30, 2007 and 2006	5

Notes to Financial Statements	6

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	9

Item 3. Controls and Procedures

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Item 3. Defaults Upon Senior Securities

Item 4. Submission of Matters to a Vote of Security Holders

Item 5. Other Information

Item 6. Exhibits

Signatures

Table of Contents

PART I.

FINANCIAL INFORMATION

ITEM 1.

Financial Statements

KENT INTERNATIONAL HOLDINGS, INC.

BALANCE SHEET

AS OF SEPTEMBER 30, 2007

(in 000’s, except share and per share amounts)

(UNAUDITED)

ASSETS

Current Assets:
Cash and cash equivalents	$
Short-term investments		10,556
Accounts receivable
Prepaid expenses and other current assets

Total current assets		10,571

Property and equipment, net of accumulated depreciation of $1

Other assets

Total assets	$	10,583



LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:
Accounts payable and accrued expenses	$

Stockholders' equity:
Preferred stock, $.002 par value; 2,000,000 shares authorized; none outstanding		-
Common stock, $.002 par value; 10,000,000 shares authorized; 3,567,956 shares issued and outstanding
Additional paid-in capital		99,369
Accumulated deficit		(88,819	)

Total stockholders' equity		10,557

Total liabilities and stockholders' equity	$	10,583

See accompanying notes to financial statements.

Table of Contents

KENT INTERNATIONAL HOLDINGS, INC.

STATEMENTS OF OPERATIONS

(in 000’s, except per share amounts)

(UNAUDITED)

	Three Months Ended September 30,						Nine Months Ended September 30,

Revenues:
Interest	$			$			$			$
Sale of patent rights
Other income

Total revenues

Expenses:
General and administrative
Write off capitalized software costs

Total expenses

Loss before income taxes		(154	)		(18	)		(312	)		(182	)
Provision for income taxes

Net loss	$	(154	)	$	(18	)	$	(312	)	$	(183	)


Basic and diluted net loss per common share	$	(0.04	)	$	(0.01	)	$	(0.09	)	$	(0.05	)

Basic and diluted weighted average number of common shares outstanding		3,568			3,570			3,568			3,580

See accompanying notes to financial statements.

Table of Contents

KENT INTERNATIONAL HOLDINGS, INC.

STATEMENTS OF CASH FLOWS

(in 000’s)

(UNAUDITED)

		Nine Months Ended September 30,