Hamptons Luxury Homes, Inc.

Annual Report:

Income Statement: As of Dec. 31 US Dollar	2008	2007
Contract and service revenues	$8,158,672	$8,706,384
Contract and service costs	6,109,268	6,437,344
Gross profit	2,049,404	2,269,040
Selling, general and administrative expenses	1,928,497	1,486,947
Income (loss) from operations	120,907	782,093
Other income (expense):
Rental income		21,813
Interest income, net	3,574	(11,918)
Equity in income of joint venture	(27,474)	19,981
Income (loss) before income taxes	97,007	811,969
Income tax expense	116,828	196,000
Net income (loss)	(19,821)	$615,969
Basic and diluted income (loss) per common share		$0.01

Balance Sheet: As of Dec. 31 US Dollar	2008	2007
ASSETS
Current assets
Cash	$321,948	$123,648
Contracts receivable, net	981,273	1,759,610
Income tax receivable	140,224	176,000
Prepaid expenses and other current assets	59,295	16,008
Total current assets	1,502,740	2,075,266
Property and equipment, net	66,871	61,043
Advances to and investment in joint venture	23,696	56,170
Other assets	16,600	16,600
Total assets	$1,609,907	$2,209,079
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable	$543,778	$1,119,927
Accrued expenses and other current liabilities	31,645	12,397
Income taxes payable		30,500
Total current liabilities	575,423	1,162,824
Deferred taxes payable	24,000	29,000
Stockholders' equity
Common stock, par value $0.0001	5,797	5,797
Additional paid-in capital	546,963	533,913
Retained earnings	457,724	477,545
Total stockholders' equity	1,010,484	1,017,255
Total liabilities and stockholders' equity	$1,609,907	$2,209,079

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