We are looking forward to the opportunity to distinguish ourselves within the investment community for the openness and clarity of our communication. Many investors have come to expect very high standards of corporate disclosure and we plan to meet those expectations.
The Company reiterates its previous guidance of 2011 fiscal year revenues in the range of $56 million to $58 million, and non-GAAP adjusted net income to be in the range between $10 million and $11 million, excluding the cost of share-based consultancy fees. On the basis of the Company's current cash balances and outlook for the upcoming calendar year, the Company believes it has sufficient cash resources to fund the expansion of its LIP lines to 1,000 tons per annum as detailed above. Funding for additional expansion and vertical integration beyond 1,000 tons of LIP, may, depending on timing, require additional capital for acquisitions and/or capital expenditures.
"Looking back for the past three quarters of fiscal year 2011, the new product – LIP has brought the Company a greater profit and contribution, and we are very encouraged by the prospects for our business, given our leading market positions, technological resources and levels of customer demand. With our excellent management and operations, we believe we can continue to target ambitious growth as we increase China Sun Group's production capacity to meet market demand. At the same time we are dedicated to pursuing the highest standards of responsibility as a public company to prepare for upgrading to a major stock exchange in the future."