Deferred Costs, Capitalized, Prepaid, and Other Assets

12 Months Ended

10 Months Ended

Mar. 31, 2012

Studio II Brands, Inc. (Successor)

Feb. 09, 2011

Hippo Lace Limited (Predecessor)

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

NOTE 7 SECURITY DEPOSITS

Security deposits mainly consist of five months rental and management fee security deposits, electricity and water meter deposits for company owned restaurant, and was recorded by the time of payment. Security and deposits as of March 31, 2012 and 2011 are summarized as follows:

	March 31, 2012	March 31, 2011
Rental and management fee security deposit	$        90,198	$       35,888
Electricity deposit	7,447	3,595
Water deposit	1,541	771
Gas deposit	1,926	-
Food supplies deposit	2,953	962
Others	1,195	-
	$       105,260	$      41,216

NOTE 8 COST OF GOODS SOLD

Cost of goods sold consists of finished goods include food and beverage materials and products for catering services sold by company-owned restaurant and the subfranchise annual fee expenses, and exclusive of depreciation expenses shown separately under Note 8 Operating Expenses.

NOTE 6 SECURITY DEPOSITS

Security deposits mainly consist of five months rental and management fee security deposits, electricity and water meter deposits for company owned restaurant, and was recorded by the time of payment. Security and deposits as of February 9, 2011 are summarized as follows:

Rental and management fee security deposit	$       35,888
Electricity deposit	3,595
Water deposit	771
Food supplies deposit	962
	$       41,216

NOTE 7 COST OF GOOD SOLD

Cost of goods sold consists of finished goods include food and beverage materials and products for catering services sold by company-owned restaurant and the subfranchise annual fee expenses and exclusive of depreciation expenses shown separately under Note 8 Operating Expenses.