The Audit Committee of the Board of Directors today announced that Grant Thornton (GT) has verified that the cash amounts listed on the Company's SEC filings for 2010 and the first quarter of 2011 are consistent with account statements obtained from WKBT's banks directly by GT.
Our market share continues to improve with our successful new product launches and expanded sales channels. The five new products we launched during 2010 contributed roughly $11 million to our total sales, and we plan to launch four new products during 2011, three of which we expect to roll out during the first quarter. We are committed to implementing improved marketing and promotional strategies as well as aggressive R&D, both of which contributed to our strong performance this year. Furthermore, we have streamlined our cost structure in order to provide the highest quality product at the best value, and we look forward to continued growth of this nature as we continue to pursue additional US investor support and interaction in 2011.
Our decision to bring on additional sales staff last quarter has proven to be very beneficial to our marketing and distribution efforts and overall growth strategy. In November, we estimated that our new agents in Changsha, Nanning, and Zhuzhou would bring in annual revenue of roughly $15 million, and we are pleased that they are already on track to exceed our original projections. The exceptional effort from our entire sales team has allowed us to maximize the effectiveness of our recent product launches and increased advertising investment in the second half of 2010, driving dramatic growth beyond our expectations in both sales and profit for the fourth quarter and fiscal 2010.