Debit Credit

Accumulated Depreciation 472,500

Accounts receivable (including $90,000 due after one year) 510,000
Accounts payable 247,500
Accrued expenses 157,500
Allowance for doubtful accounts 56,250
Amortization of bond discount and expenses 5,250
Building, machinery and equipment 3,262,500
Bank overdraft 187,500
Cash 225,000
Common stock, $100 par value
Authorized, 37,500 shares
Issued- 13,875 share 1,387,500
Subscribed - 375 shares 37,500
Construction in Progress 165,000
Cost of goods sold 3,225,000
10% Debenture, due Jan 1, 2007 750,000
Inventories
Finished goods 465,000
Goods in process 116,250
Raw materials 352,500
Dividend income 30,000
Investments in affiliated companies 262,500
Interest expense 176,250
Income tax payable 269,450
Land 345,000
Marketable securities 71,250
Mortgage payable (including current portion of $150,000) 750,000
Operating expenses 397,500
Preferred stock, 7% cumulative, non-participating,
authorized and issued, 7,5000 shares, $100 par value 750,000
Pre-operating expenses 90,000
Prepaid expenses 37,500
Provision for income tax 269,450
Reserve for contingencies 150,000
Retained earnings 114,750
Sales 4,425,000
Subscription receivable 15,000
Treasury stock (cost of 75 shares) 8,250
Unamortized bond discount and expenses 48,750
Excess of issue price over par value of common stock 262,500
10,047,950 10,047,950
TRUE
INDEPENDENT AUDITORS’ REPORT

Report No : 00001/3.0123/AU.1/01/0111-1/1/III/2016

The Shareholders, Board of Commissioners and Directors

Jujur Corp.

Opinion

We have audited the financial statements of Jujur Corp. (“the Company”), which comprise the statement
of financial position as at December 31, 2015, and the statement of profit or loss and notes to the
financial statements.

In our opinion, the accompanying financial statements present fairly, in all material respects, the financial
position of the Company as at December 31, 2015, and its financial performance for the year then ended,
in accordance with Indonesian Financial Accounting Standards.

Basis for Opinion

We conducted our audit in accordance with Standards on Auditing established by the Indonesian Institute
of Certified Public Accountants. Our responsibilities under those standards are further described in the
Auditor’s Responsibilities for the Audit of the Financial Statements paragraph of our report. We are
independent of the Company in accordance with the ethical requirements that are relevant to our audit of
the financial statements in Indonesia, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient
and appropriate to provide a basis for our opinion.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in
accordance with Indonesian Financial Accounting Standards, and for such internal control as
management determines is necessary to enable the preparation of financial statements that are free from
material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing the Company’s ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless management either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing the Company’s financial reporting
process.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an
audit conducted in accordance with Standards on Auditing will always detect a material misstatement
when it exists. Misstatements can arise from fraud or error and are considered material if, individually or
in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.

As part of an audit in accordance with Standards on Auditing, we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:

•
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error, as
fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of
internal control.

•
Obtain an understanding of internal control relevant to the audit in order to design 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.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by management.

Conclude on the appropriateness of management’s use of the going concern basis of accounting and,
based on the audit evidence obtained, whether a material uncertainty exists related to events or
conditions that may cast significant doubt on the Company’s ability to continue as a going concern.
If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the financial statements or, if such disclosures are inadequate, to
modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our
auditor’s report. However, future events or conditions may cause the Company to cease to continue
as a going concern.

•
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and events in
a manner that achieves fair presentation

We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal
control that we identify during our audit.

SAYA AND ANDA CPA

Miolin Limbong, S. AK., CPA

License: AP 0001
March 31, 2016
 JUJUR Corp.
STATEMENT OF FINANCIAL POSITION (BALANCE SHEETS)
DECEMBER 31, 2015
(Expressed in Dollar, uness otherwise stated)
-
Notes December 31, 2015
ASSETS

CURRENT ASSETS
Cash and cash equivalents 225,000
Marketable Securities 198,750
Accounts Receivable 420,000

Less: Allowance for doubtful accounts (56,250)

Subscription receivable 15,000
Prepaid Expenses 37,500
Inventories 1 933,750
TOTAL CURRENT ASSETS 1,773,750

NON - CURRENT ASSETS

Fixed Assets - net 2 3,300,000
Notes Receivable 90,000
Fictitious Assets 3 90,000
Investments in Affiliated Companies 262,500
TOTAL NON - CURRENT ASSETS 3,742,500
TOTAL ASSETS 5,516,250

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Accounts Payable 247,500
Bank Overdraft 187,500
Accrued Expenses 157,500
Currents maturities of :
Mortgage Payable 150,000
TOTAL CURRENT LIABILITIES 742,500

NON - CURRENT LIABILITIES

Mortgage Payable 600,000
Income Tax Payable 269,450
Debenture 750,000
Less: Unamortized Bond Discount (48,750)
Reserves for Contingency 150,000
TOTAL NON - CURRENT LIABILITIES 1,720,700
TOTAL LIABILITIES 2,463,200

EQUITY
Common stock, $100 par value
Authorized, 37,500 shares
Issued- 13,875 share 1,387,500
Subscribed - 375 shares 37,500
Preferred stock, 7% cumulative,

non-participating, authorized and

issued, 7,5000 shares, $100 par value 750,000
Additional Paid-in Capital 262,500
Treasury Stock (8,250)
Retained Earnings 623,800
TOTAL EQUITY 3,053,050
TOTAL LIABILITIES AND EQUITY 5,516,250

See accompanying Notes to Financial Statements

which are an integral part of the Financial Statements taken as a whole.
 JUJUR Corp.
STATEMENT OF PROFIT AND LOSS (INCOME STATEMENT)
For the Year Ended December 31, 2015
(Expressed in Dollar, uness otherwise stated)

Notes December 31, 2015

Sales 4,425,000
Cost of Goods Sold (3,225,000)
GROSS PROFIT 1,200,000

Operating Expenses (397,500)

Other Income (Expenses) - net 4 (24,000)
INCOME (LOSS) BEFORE INCOME TAX 778,500

Provision for income tax (269,450)

NET INCOME (LOSS) CURRENT YEAR 509,050

See accompanying Notes to Financial Statements

which are an integral part of the Financial Statements taken as a whole.
 JUJUR Corp.
NOTES TO FINANCIAL STATEMENTS
As of and For the Year Ended December 31, 2015
(Expressed in Dollar, uness otherwise stated)

1 Inventories

This account consist of:

Finished goods 465,000

Goods in process 116,250
Raw materials 352,500
Total 933,750

2 Fixed Assets

This account consist of:

Land 345,000
Building, machinery and equipment 3,262,500
Construction in Progress 165,000
Acquisition Cost 3,772,500
Less: Accumulated Depreciation (472,500)
Total 3,300,000

3 Ficituous Assets

This account consist of:

Pre-operating expenses 90,000

Total 90,000

Pre-operating expenses, also known as preliminary expenses, are costs

incurred before the start of business operations. According To IFRS For
SMEs, Pre-Operating Expenses Should Only Be Capitalized If The Following
Conditions Are Met:
1. It is probable that the business will be successfully started and that the
expenses will be recouped through future operations.
2. The expenses are directly attributable to the start of the business.
3. The expenses are directly related to the start of the business and would not
have been incurred if the business had not been started.

4 Other Income (Expense)

 This account consist of:

Other Income
Unrealized Holding Gain 127,500
Dividend Income 30,000
Total 157,500
Other Expenses
Interest Expense 176,250
Bond Interest Expense 5,250
Total 181,500
Other Income (Expense) (24,000)

Under GAAP, Marketable Securities must be adjusted at each balance sheet

date so that the value shown on the balance sheet is the market value. The
increase of market price of marketable securities are adjusted at year end and
the difference is credited to Unrealized Gain on Marketable Securities
(Unrealized holding gain)

5 Events after the Reporting Period

On January 10, 2016, the board of directors approved that cash in the amount
of $150,000 be restricted to meet the down payment of the possible
acquisition of the land adjoining the plant site to be purchased for future
plant expansion. Based on the current market price, the amount of land is
$375,000.