Ann: Vmoto continues to grow over first quarter of 2015, page-7

A good sales result for the first quarter....but hides the disappointing results from Vmoto retail stores YoY according to my figures.....albeit this is more than offset by sales through other China distributors.  Good signs from the PowerEagle (OEM) sales as well.

For me this equates to a first quarter normalised profit as high as $1.3m.....same period in 2014 was $240k.

sents

	Column 1	Column 2	Column 3	Column 4	Column 5
0	Vmoto Unit Sales	2015​	2014​
1		Q1​	Q1​	Change
2	OEM	10,444​	8,133​	2,311​	28.4%​
3	Vmoto Retail Stores	2,385​	3,071​	-686​	-22.3%​
4	Chinese Distributors	2,566​	1,015​	1,551​	152.8%​
5	International	4,067​	2,038​	2,029​	99.6%​
6		19,462​	14,257​	5,205​	36.5%​