UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of [April] 2008
MIRAE CORPORATION
(Translation of registrant’s name into English)
#9-2, CHA AM-DONG, CHUN AN CITY, CHOONG-NAM 330-200
REPUBLIC OF KOREA
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ( ü ) No Form 40-F ( )
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ( ) No ( ü )
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .
The registrant files with the Korea Securities Exchange the notice dated March 31, 2008. Attached is English language version of the notice.
MIRAE CORPORATION ANNOUNCES
THE RESULTS FOR FISICAL YEAR 2007
Seoul, Korea, March 31, 2008—Mirae Corporation (Nasdaq: MRAE) today reports its operating and financial results for the year ended December 31, 2007
The Company reported total revenues of 81,161 million won for FY 2007, decreased by 5.5 percent from total revenues of 85,885 million won for FY 2006. And, gross profit for FY 2007 was 18,238 million won increased by 170.4 percent from gross profit of 6,745 million won for FY 2006. Mirae accounted 1,664 million won of operating profit that turned around positive figure from 12,999 million of operating loss for FY 2006. Moreover, Mirae accounted 691 million won of ordinary profit and net profit, respectively, for the fiscal year of 2007; whereas, ordinary loss and net loss of 36,234 million won for the fiscal year of 2006.
[Table 1.] Summary of Operating Results of FY 2007 vs. FY 2006
(Unit: in million Korean won, %)
Category | FY 2007 | FY 2006 | % Change | Comment | |||||
Revenues | 81,161 | 85,885 | - 5.5 | ||||||
Gross profit | 18,238 | 6,745 | +170.4 | ||||||
Operating income (loss) | 1,664 | (12,999 | ) | Turnover Operating profit | |||||
Ordinary income (loss) | 691 | (36,234 | ) | Turnover Ordinary profit | |||||
Net income (loss) | 691 | (36,234 | ) | Turnover Net profit |
Total revenues decreased for the fiscal year of 2007 slightly. However, operating income increased by 112.8 percent for the fiscal year of 2007, as compared to the fiscal year of 2006, was mainly due to the decrease in selling, general and administrative expenses through implementing cost saving measure. Moreover, Ordinary profit and net profit resulted mainly from the disposal of non-operating properties for the fiscal year of 2007.
Mirae Corporation emphasized on the global network reinforcement that facilitated its global market development as well as existing market penetration. By doing so, the Company’s overseas sales for the fiscal year of 2007 reached 58.12 percent of the total revenue due to new customer development.
[Table 2] Revenues Break Down by Region.
(Unit: %)
Region | FY 2007 | FY 2006 | ||
Asia | 23.75 | 16.55 | ||
Europe | 4.42 | 6.06 | ||
US | 29.95 | 21.05 | ||
Overseas Total | 58.12 | 43.66 | ||
Domestic | 41.88 | 56.34 | ||
Total | 100.0 | 100.0 |
Each division fully portrays its figures for the fiscal year of 2007 as follows. Assembly and Test Equipment Division (former Semiconductor Equipment Division) distributed sales of 64,521 million won, or 10.9 percent increase, for the fiscal year of 2007 from 58,191 million won for the same period of 2006. The semiconductor equipment industry is expected to grow continuously in this year; and we hope that our ATE sales show its growth accordingly. SMD Placement System Division (SMT) generated revenues of 16,278 million won for the fiscal year of 2007, increased by 8.5 percent from 15,004 million won for the fiscal year of 2006. Sales portion by Assembly and Test Equipment Division, SMD placement systems Division and Other Division are 79.5 percent, 20.1 percent and 0.4 percent, respectively, for the fiscal year of 2007.
[Table 3] Revenues Break Down by Division
(Unit: in million Korean won)
Division | FY 2007 | FY 2006 | % Change | |||
ATE Division | 64,521 | 58,191 | +10.9 | |||
SMT Division | 16,278 | 15,004 | +8.5 | |||
Other | 362 | 12,690 | -97.1 | |||
Total | 81,161 | 85,885 | -5.5 |
Highlights of FY 2007
January 3, 2007
• | Cyberbank Corporation creditor was reported to have made a decision in carrying out the right of pledge was collateralized deposit by Mirae Corporation. |
1. Summary
Mirae Corporation provided pledge our deposit as collateral to our affiliated company Cyberbank Corporation and the repayment of the borrowings is not made for the creditor Korea Development Bank by Cyberbank Corporation. As of January 3, 2007, Cyberbank Corporation creditor was reported to have made a decision in carrying out the right of pledge that collateralized deposit by Mirae Corporation. According to the contractual obligation with creditor, Mirae Corporation has to subrogate the debt of Cyberbank Corporation.
2. Mirae Corporation provided collateral of deposit in the total amount of Won 23,000 million for the repayment of borrowings. As of January 3, 2007, Mirae Corporation will have to subrogate the debt in the amount of Won 15,000 million (12.3% of Equity Capital) of Cyberbank Corporation due to the repayment of the borrowings was not made for the creditor.
January 9, 2007
• | Decision on disposal of Equities of SOFTFORUM Co., Ltd. |
Number of Shares to be disposed: 230,810
Disposal Amount (KRW): 820,634,540
Number of Shares held after disposal: 0
January 16, 2007
• | Decision on investment in SOFTFORUM Co., Ltd. |
Number of Shares to be acquired: 243,331
Acquisition Amount (KRW): 661,860,320
Number of Shares held after acquisition: 243,331
Purpose of Acquisition: Taking profit from general investment
February 12, 2007
• | Decision on disposal of Equities of SOFTFORUM Co., Ltd. |
Number of Shares to be disposed: 243,331
Disposal Amount (KRW): 973,324,000
Number of Shares held after disposal: 0
March 5, 2007
• | Decision on Calling Annual Shareholders’ Meeting |
Date: March 27, 2007
The agenda for the 16th Annual Shareholders’ Meeting.
A. Report
1) Report on business and Audit Results
B. Agenda
1) Approval of Balance sheet, Income statement and Statement of loss disposition for the fiscal year 2006.
2) Partial amendment to articles of incorporation.
3) Approval of the ceiling amount of the Remuneration for Directors
March 27, 2007
• | Result of the 16th Annual Shareholders’ Meeting |
1) Approval of Balance Sheet, Income Statement and Statement of loss disposition for the fiscal year 2006
• | Resolved as proposed |
2) Partial amendment to articles of Incorporation
• | Resolved as proposed |
3) Approval of the ceiling amount of remuneration for directors
• | Resolved as proposed |
April 27, 2007
• | Cancellation of Stock Option Granted |
Number of Grantees cancelled: 44 employees
Number of Shares cancelled: 2,280,795 Common Shares
Total Stock Option Granted after this Cancellation: 3,833,255
May 14, 2007
• | Decision on investment in Slim Disc Corporation |
Number of Shares to be acquired: 16,119
Acquisition Amount (KRW): 80,595,000
Number of Shares held after acquisition: 16,119
Number of Shareholding ration after acquisition: 23.03%
• | Addition of Affiliated Company |
Name of Company: Slim Disc Corporation
Main Business: Development, Manufacture and Sale of multi media related product and disc.
July 19, 2007
• | Decision on investment in GLD Corporation |
Number of Shares to be acquired: 15,103,166
Acquisition Amount (KRW): 15,103,166,000
Number of Shares held after acquisition: 16,303,166
Number of Shareholding ration after acquisition: 98%
October 19, 2007
• | Cancellation of Stock Option Granted |
Number of Grantees cancelled: 5 employees
Number of Shares cancelled: 507,343 Common Shares
Total Stock Option Granted after this Cancellation: 3,325,912
March 3, 2008
• | Decision on Calling Annual Shareholders’ Meeting |
Date: March 28, 2008
The agenda for the 17th Annual Shareholders’ Meeting.
A. Report
1) Report on business and Audit Results
B. Agenda
1) Approval of Balance sheet, Income statement and Statement of loss disposition for the fiscal year 2007
2) Partial amendment to articles of incorporation.
3) Election of directors
4) Appointment of New outside directors who become members of audit committee
5) Approval of the ceiling amount of the Remuneration for Directors
6) Grant of Stock Options
7) Delisting and Deregistration of American Depositary Receipts from Nasdaq and SEC
• | Decision on Delisting from Overseas Exchange |
Concerned Overseas Exchange and Location: The Nasdaq Global Market (U.S.A)
Class and Number of Shares to be delisted : 231,698 (as of February 27, 2008)
Reason for Delisting : Our average daily trading volume of shares represented by ADRs on Nasdaq has very low and limited. Considering this trading condition, there is no meaning to maintaining of listing in overseas exchange market. We believe that the costs and expenses with respect to maintaining a listing would be reduced significantly through the delisting and deregistration.
March 27, 2008
• | Decision on investment in other company |
Name of company: En Value Co., Ltd. (U.S.A)
Relationship to the company: Affiliated Company after investment
Main Business: Solar cell and Semiconductor automation related equipment.
Number of shares to be acquired: 800,000 common shares
Acquisition Amount (KRW): 1,969,200,000
Purpose of acquisition: To expand business scope through the establishment of overseas subsidiary.
March 28, 2008
• | Result of the 17th Annual Shareholders’ Meeting |
1) Approval of Balance sheet, Income statement and Statement of loss disposition for the fiscal year 2007
• | Resolved as proposed |
2) Partial amendment to articles of incorporation.
• | Resolved as proposed |
3) Election of directors
• | Resolved as proposed |
4) Appointment of New outside directors who become members of audit committee
• | Resolved as proposed |
5) Approval of the ceiling amount of the Remuneration for Directors
• | Resolved as proposed |
6) Grant of Stock Options
• | Resolved as proposed |
7) Delisting and Deregistration of American Depositary Receipts from Nasdaq and SEC
• | Resolved as proposed |
• | Grant of Stock Option |
Number of Grantees: 5 officers
Number of Shares to be granted: 800,000 common shares
Exercise period: from March 28, 2010 to March 27, 2015
Exercise price (KRW): 400
Granting Method: New Share Issue, Delivery of Treasury Stocks.
Grant Date: March 28, 2008.
Total Stock Option granted after concerned grant: 4,125,912
This release contains operation and financial performance and other financial business matters prepared using accounting principles and reporting practices generally accepted in Korea (“Korean GAAP”) and is in unconsolidated basis. In accordance with KSE regulation, the unconsolidated balance sheet, the unconsolidated statement of operation and the unconsolidated statement of cash flows for the third quarter of 2004, have been reviewed by the Outside Auditor. In all other respects, these unconsolidated balance sheet, the unconsolidated statement of operation and the unconsolidated statement of cash flows under Korean GAAP are not intended to present the Company’s financial position and results of operations in accordance with accounting principles and reporting practices generally accepted in the United States. Accordingly, the balance sheet, statements of operation and statement of cash flows are not designed for use by those who are not informed about Korean GAAP.
Mirae Corporation is a manufacturer and supplier of semiconductor handlers and SMD placement systems along with Internet related businesses including SoftForum (PKI solution provider).
The common stock of Mirae Corporation is traded on the Korea Stock Exchange under the number “025560” and American Depositary Receipt of the common stock of Mirae is traded on the Nasdaq National Market under the symbol “MRAE”.
MIRAE CORPORATION
NON-CONSOLIDATED BALANCE SHEETS UNDER KOREAN GAAP
DECEMBER 31, 2007 AND 2006
(In millions of Korean won)
FY 2007 | FY 2006 | |||
(Audited) | (Audited) | |||
ASSETS | ||||
CURRENT ASSETS: | ||||
Cash and cash equivalents | 6,882 | 3,875 | ||
Short-term financial instruments | 23,130 | 38,023 | ||
Marketable securities | 562 | 66 | ||
Accounts receivable—trade, net | 31,744 | 28,074 | ||
Short-term loan | 271 | 259 | ||
Accounts receivable—other | 1,871 | 7,065 | ||
Inventories | 20,236 | 15,014 | ||
Accrued interest income | 692 | 648 | ||
Advance payments and others | 2,321 | 2,743 | ||
Derivatives in current assets | 6 | |||
Prepaid income taxes | 240 | 268 | ||
Total Current Assets | 87,955 | 96,035 | ||
NON-CURRENT ASSETS: | ||||
Property, plant and equipment—net | 34,487 | 41,629 | ||
Intangible assets—net | 11,571 | 15,650 | ||
Available-for-sale securities | 2,390 | 3,525 | ||
Long-term and restricted bank deposits | 174 | 673 | ||
Guarantee deposits, net | 4,071 | 5,127 | ||
Long-term receivables | 1,634 | 1,634 | ||
Long-term loans and other | 372 | 540 | ||
Equity securities | 13,966 | — | ||
Total Non-Current Assets | 68,665 | 68,778 | ||
TOTAL ASSETS | 156,620 | 164,813 | ||
(Continued)
MIRAE CORPORATION
NON-CONSOLIDATED BALANCE SHEETS UNDER KOREAN GAAP
DECEMBER 31, 2007 AND 2006
(In millions of Korean won)
FY 2007 | FY 2006 | |||||
(Audited) | (Audited) | |||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
CURRENT LIABILITIES: | ||||||
Accounts payable—trade | 9,699 | 7,890 | ||||
Short-term borrowings | 47,461 | 41,627 | ||||
Accounts payable—other | 986 | 1,333 | ||||
Advance receipts from customers | 23 | 1,978 | ||||
Withholdings | 49 | 164 | ||||
Accrued expenses and other | 922 | 2,166 | ||||
Short-term guarantee deposits received | 398 | 41 | ||||
Current long-term liability | 1,452 | 1,142 | ||||
Allowance for guarantee deposited and others | 1,427 | 16,378 | ||||
Derivatives in current liabilities | 19 | — | ||||
Total Current Liabilities | 62,436 | 72,719 | ||||
NON-CURRENT LIABILITIES: | ||||||
Long-term borrowings | 7,380 | 3,995 | ||||
Long-term guarantee deposits received | 28 | — | ||||
Accrued severance indemnities, net | 1,443 | 1,774 | ||||
Deferred tax liabilities | — | 145 | ||||
Total Long-term Liabilities | 8,851 | 5,914 | ||||
Total Liabilities | 71,287 | 78,633 | ||||
SHAREHOLDERS’ EQUITY: | ||||||
Capital stock | ||||||
Common stock—par value (Won)100 per share; issued and outstanding 183 million shares as of December 31 2007 and 2006 | 18,387 | 18,387 | ||||
Capital surplus: | ||||||
Additional paid-in capital | 132,617 | 132,616 | ||||
Other Capital Surplus | 866 | 192 | ||||
Retained earnings (Accumulated deficit) : | ||||||
Unappropriated | (63,713 | ) | (63,316 | ) | ||
Capital adjustments: | ||||||
Treasury stock | (2,379 | ) | (2,379 | ) | ||
Gain on valuation of investment securities | — | 381 | ||||
Loss on disposition of treasury stock | (1,445 | ) | (1,445 | ) | ||
Loss on valuation of equity method securities | (69 | ) | ||||
Additional paid-in capital—employee stock options | 1,069 | 1,744 | ||||
Total Shareholders’ Equity | 85,333 | 86,180 | ||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 156,620 | 164,813 | ||||
MIRAE CORPORATION
NON-CONSOLIDATED STATEMENT OF OPERATIONS UNDER KOREAN GAAP
YEARS ENDED DECEMBER 31, 2007 AND 2006
(In millions of Korean won, except per share data)
FY 2007 | FY 2006 | ||||
(Audited) | (Audited) | ||||
REVENUES | 81,161 | 85,885 | |||
COST OF SALES | 62,923 | 79,140 | |||
GROSS PROFIT | 18,238 | 6,745 | |||
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES | 16,574 | 19,744 | |||
OPERATING INCOME (LOSS) | 1,664 | (12,999 | ) | ||
OTHER INCOMES | 4,704 | 5,814 | |||
OTHER EXPENSES | 5,677 | 29,049 | |||
ORDINARY PROFIT (LOSS) | 691 | (36,234 | ) | ||
INCOME TAX EXPENSE (BENEFIT) | — | — | |||
NET INCOME (LOSS) | 691 | (36,234 | ) | ||
NET INCOME (LOSS) PER SHARE (In Korean won) | 4 | (198 | ) | ||
MIRAE CORPORATION
NON-CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2007 AND 2006
(In millions of Korean won)
FY 2007 | FY 2006 | |||||
(Audited) | (Audited) | |||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||
Net income (loss) | 691 | (36,234 | ) | |||
Expenses not involving cash payments: | ||||||
Provision for severance indemnities | 958 | 906 | ||||
Depreciation and amortization | 2,873 | 4,113 | ||||
Allowance for bad debts | 401 | — | ||||
Loss from depreciation of intangible assets | 2,864 | 2,287 | ||||
Allowance for bad debts for others | — | 12,686 | ||||
Foreign currency translation loss | 400 | 759 | ||||
Loss from disposal and valuation of short-term securities | 9 | 4 | ||||
Loss from disposal of tangible asset | 45 | 1 | ||||
Impairment loss from other non-current asset | — | 3 | ||||
Equity in losses of affiliate | 81 | 2,390 | ||||
Impairment loss from Available-for-sale securities | 663 | 3,389 | ||||
Expense from A/S | 1,394 | 1,150 | ||||
Loss on disposition of short-term securities Loss from valuation of derivatives | 13 | — | ||||
Compensation cost related to stock options | — | 80 | ||||
Loss from disposal of account receivable-Others | 40 | 30 | ||||
Impairment loss on development expense | 4,828 | |||||
Others | — | — | ||||
Sub-total | 9,741 | 32,626 | ||||
Income not involving cash receipts: | ||||||
Foreign currency translation gain | (437 | ) | (963 | ) | ||
Recapture of present value discount account | — | (301 | ) | |||
Gain on disposal and valuation of marketable securities | (5 | ) | (24 | ) | ||
Gain on disposal of tangible assets | (407 | ) | (14 | ) | ||
Gain on disposition of equity securities | (227 | ) | (587 | ) | ||
Reversal of allowance for bad debts | (18 | ) | (1,151 | ) | ||
Gain on disposal of intangible assets | (5 | ) | — | |||
Gain on disposal of other non-current asset | (188 | ) | — | |||
Gain on disposal of available-for-sale securities | (908 | ) | — | |||
Sub-total | (2,195 | ) | (3,040 | ) |
(Continued)
MIRAE CORPORATION
NON-CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2007 AND 2006
(In millions of Korean won)
FY 2007 | FY 2006 | |||||
(Audited) | (Audited) | |||||
Changes in assets and liabilities related to operating activities: | ||||||
Accounts receivable—trade | (3,685 | ) | 16,186 | |||
Accounts receivable—other | 5,281 | 1,681 | ||||
Accrued income | (44 | ) | 248 | |||
Advance payments | (41 | ) | (3,747 | ) | ||
Prepaid expenses | (4 | ) | 9 | |||
Prepaid income tax | 29 | (61 | ) | |||
Increase in derivatives assets | (19 | ) | — | |||
Inventories | (8,230 | ) | 9,093 | |||
Accounts payable—trade | 1,803 | (10,377 | ) | |||
Accounts payable—other | (347 | ) | 26 | |||
Advance receipts from customers | (1,955 | ) | 1,868 | |||
Withholdings | (114 | ) | (9 | ) | ||
Accrued expenses and others | (1,245 | ) | 718 | |||
Loss from construction warranty | (1,345 | ) | (1,257 | ) | ||
Severance indemnity payments | (1,289 | ) | (1,267 | ) | ||
Increase in derivatives liabilities | 19 | — | ||||
Decrease in provision for guarantees of the indebtedness | (15,000 | ) | (9,995 | ) | ||
Sub-total | (26,186 | ) | 3,116 | |||
(17,949 | ) | (3,532 | ) | |||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||
Cash in flows from investing activities: | ||||||
Decrease in short-term financial instruments | 15,423 | 8,805 | ||||
Decrease in Trading securities | — | 4,261 | ||||
Decrease in short-term loans | 59 | 575 | ||||
Proceeds from disposal of available-for-sale securities | 1,917 | — | ||||
Decrease in long-term loans | 168 | 422 | ||||
Decrease in guarantee deposits | 1,844 | 1,322 | ||||
Proceeds from disposal of property, plant and equipment | 751 | 28 | ||||
Proceeds from disposal of landed property | 208 | 246 | ||||
Proceeds from disposal of intangible assets | 17 | 175 | ||||
Increase in guarantee deposits | 368 | 7 | ||||
Increase in Long term guarantee deposits | 28 | 10 | ||||
Decrease in long-term financial instruments | 14 | 3 | ||||
20,797 | 15,854 |
(Continued)
MIRAE CORPORATION
NON-CONSOLIDATED STATEMENTS OF CASH FLOWS
YEARS ENDED DECEMBER 31, 2007 AND 2006
(In millions of Korean won)
FY 2007 | FY 2006 | |||||
(Audited) | (Audited) | |||||
Cash out flows from investing activities: | ||||||
Increase in investment securities | 500 | 4,011 | ||||
Increase in short-term loans | 66 | 180 | ||||
Increase in long-term financial instruments | 45 | 10 | ||||
Acquisition of investment securities by equity method | 1,281 | — | ||||
Acquisition of available-for-sale securities | 1,062 | 3,007 | ||||
Increase in long-term loans | — | — | ||||
Increase in guarantee deposits | 599 | 1,689 | ||||
Acquisition of property, plant and equipment | 36 | 549 | ||||
Increase in construction in-progress | — | 506 | ||||
Acquisition of other tangible assets | 592 | 945 | ||||
Acquisition of industrial rights | 446 | 513 | ||||
Increase in research and development cost | 4,349 | 5,813 | ||||
Decrease in guarantee deposits | 10 | — | ||||
Acquisition of landed property | — | 10 | ||||
Decrease in Long term guarantee deposits | — | 114 | ||||
Increase in short-term financial instruments | — | — | ||||
8,986 | 17,347 | |||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||
Cash in flows from financing activities: | ||||||
Increase in short-term borrowings | 5,487 | 2,381 | ||||
Increase in long-term borrowings | 4,800 | — | ||||
Sub total | 10,287 | 2,381 | ||||
Cash out flows from financing activities: | ||||||
Decrease in long-term borrowings | — | — | ||||
Decrease in current maturities of long-term liabilities | (1,142 | ) | (624 | ) | ||
Sub total | (1,142 | ) | (624 | ) | ||
9,145 | 1,757 | |||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 3,007 | (3,268 | ) | |||
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD | 3,875 | 7,143 | ||||
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD | 6,882 | 3,875 | ||||
MIRAE CORPORATION
NON-CONSOLIDATED STATEMENT OF APPROPRIATIONS OF RETAINED EARNINGS
YEARS ENDED DECEMBER 31, 2007 AND 2006
(In millions of Korean won)
2007 | 2006 | |||||
(Audited) | (Audited) | |||||
ACCUMULATED RETAINED EARNINGS (DEFICITS) BEFORE DISPOSITION | ||||||
Unappropriated retained earnings (deficits) carried over from prior years | (63,316 | ) | (27,082 | ) | ||
(1,089 | ) | — | ||||
Net Income (loss) | 691 | (36,234 | ) | |||
End of year | (63,714 | ) | (63,316 | ) | ||
APPROPRIATIONS OF RETAINED EARNINGS (DEFICITS): | — | — | ||||
UNDISPOSITIONED RETAINED EARNINGS (DEFICITS) | — | — | ||||
TO BE CARRIED FORWARD TO THE FOLLOWING YEAR | (63,714 | ) | (63,316 | ) | ||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: April 7, 2008
By | /s/ Gi-Hoon Joung | |
Gi-Hoon Joung | ||
Mirae Corporation | ||
Director of Accounting Team and Acting CFO |