This is a basic electronic kit for beginners and hobbyists. It has a CD4511 chip that is a BCD to 7 segment latch decoder driver. It is a very popular chip and used widely in seven segment display projects. You can send pulses to this kit (via NE555 or any other pulse generator) and the seven-segment display starts counting. It is an up counter which means that it does not count down. There are other up/down counter chips like 74LS192 which can be used along with CD4511 to make an up and down counter circuit. However, this kit cannot be connected to 74LS192 or any other counter chips.
The schematic of the kit:
The kit after assembly looks like this:Check out all the assembly images below. You can see these images on Flickr also.