Archive for the ‘BVI company annual financial results’ Category

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BVI-based Emerging Metals Limited published audited annual financial results

Thursday, September 23rd, 2010

Emerging Metals Limited, a British Virgin Islands-registered company focused on minor and emerging metals, announced its audited financial results for the year ended 31 March 2010. By words of BVI company’s chairman, the results of the second year of operations are extremely pleasing for the company.

In the year period ended 31 March 2010, equity shareholder funds were £35,867,184, this is 34% increase compared to £26,652,271 for the year ended 31 March 2009. Company’s cash reserves increased by 370%, from £3,757,960 in the previous year to £17,676,956 this year.

In 2010, Emerging Metals reported net profit of £8,408,770 (£10,005,933 in 2009). This figure includes an investment gain of £14,427,398, as compared to £10,259,493 in the prior year; an exchange loss of £61,521, as compared to £798,146 profit in 2009; impairment losses on the write off of the Tsumeb land option; and related capitalized intangible fixed asset costs of £5,319,860 (£nil in 2009). The calculation of earnings per share (basic) of the company is based on the net profit figure and the weighted average number of shares of 330,759,300 in issue during the year. The calculation of diluted earnings per share of the BVI company includes the weighted average number of share options and shares to be issued in respect of share based payments.

Following the implementation of operating efficiencies, operating expenses of Emerging Metals Limited are below budget at £396,888. Investments are £18,238,155, as compared to £22,947,634 in 2009. As of 31 March 2010, net asset value is 10.41 pence.

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Pansoft Company Limited reports unaudited results for the fiscal year

Friday, September 17th, 2010

Pansoft Company Limited, a British Virgin Islands-registered company providing ERP software solutions and customized services for the oil and gas industry in China, announced its unaudited financial results for the fiscal year ended June 30, 2010. BVI company’s revenues for the reported period were US$12.1 million, as compared to US$8.5 million in the same period of the previous year. The revenue increase is attributed primarily to higher sales from large-scale software system integration projects.

For the twelve months ended June 30, 2010, cost of sales was US$6.3 million, an increase of 54.3% from US$4.1 million in the same period ended June 30, 2009. Costs increased due to an increase in employee compensation and several new hires during this period.

Pansoft reported gross profit of US$5.8 million, which is 29.7% more than US$1.7 million in the twelve months ended June 30, 2009. Gross margin was 48.1%, compared to 52.1% in the prior twelve-month period.

Operating expenses were US$2.2 million, as compared to US$1.7 million in the twelve month period ended June 30, 2009. Operating profit was US$3.6 million, an increase of 33.3% from US$2.7 million in the twelve-month period of 2009. Operating margin was 30.1%, compared to last year’s 32.2%.

In the twelve-month period of 2010, the BVI company reported net income in the amount of US$3.2 million, as compared to $2.5 million in the corresponding period in 2009. Diluted earnings per share were US$0.59 – an increase from US$0.47 in 2009. Adjusted diluted EPS were US$0.67, excluding share-based compensation expenses – a 19.3% increase from US$0.57 in the twelve months ended June 30, 2009.

Pansoft’s officials commented that the BVI company reported strong financial and operational results in fiscal 2010, and the strong revenue growth even exceeded the guidance. The company achieved strong growth in both net income and EPS.

Posted in BVI company annual financial results, Unaudited financial results | No Comments »

BVI-registered corporation receives NASDAQ Staff Deficiency Letter

Thursday, August 5th, 2010

Tongxin International Ltd., a British Virgin Islands-registered company supplying engineered vehicle body structures (EVBS) in China, received a NASDAQ Staff Deficiency Letter indicating that TXIC no longer complies with NASDAQ listing rules for continued listing. The reason was failure of the company to file by the due date its audited consolidated financial statements for the year ended December 31, 2009. The due date, as extended, was July 15, 2010.

According to NASDAQ listing rules, now Tongxin International has 60 days to submit a plan to comply with the rules. The company informed in the press release about its intention to provide the plan and timetable to achieve compliance in the near term.

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China Cablecom announced its financial results for the fourth quarter and full year 2009

Monday, April 26th, 2010
China Cablecom Holdings, Ltd. (http://bvi-companies.blogspot.com/2008/12/china-cablecom-holdings-ltd.html) announced its unaudited financial results for the fourth quarter and full year ended December 31, 2009. The issued release reflects both pro forma and actual financial results due to the completion of China Cablecom’s acquisition of 55% stake in Hubei Chutian Video & Information Network in the third quarter of 2008. The financial results of Hubei have been consolidated beginning with July 1, 2008. Along with this, the fourth quarter 2009 results of operations reflect the business combination with Jaguar Acquisition Corporation (http://bvi-company-mergers-acquisitions.blogspot.com/2007/11/jaguar-acquisition-corp-announces.html).
For the fourth quarter of 2009, consolidated revenues of the company were $13.2 mln compared to $9.8 mln revenue for the fourth quarter of 2008 – a 35% year-over-year increase. Consolidated operating expenses for the fourth quarter period were $7.2 mln, compared to operating expenses of $5.7 mln for the same period of 2008. The main reasons for the increase of operating expenses were debt restructuring and fundraising, which was completed in Q4 2009.
The net loss attributable to ordinary shareholders for the fourth quarter of 2009 was $43.4 mln, or $11.14 per share (basic and diluted) compared to a net comprehensive loss of $4.6 mln, or $1.43 per share (basic and diluted) in Q4 2008.
For the full year ended December 31, 2009, China Cablecom (http://finance.yahoo.com/q?s=CABL) reported consolidated revenues in the amount of  $45.6 mln. Pro forma operating expenses for the twelve months ended December 31, 2009 were $22.6 million. Net loss for the twelve months ended December 31, 2009 was $56.3 mln, or $16.56 per share (basic and diluted). For the reported period, the BVI company used weighted average shares outstanding of 3.4 mln.

China Cablecom Holdings, Ltd. announced its unaudited financial results for the fourth quarter and full year ended December 31, 2009. The issued release reflects both pro forma and actual financial results due to the completion of China Cablecom’s acquisition of 55% stake in Hubei Chutian Video & Information Network in the third quarter of 2008. The financial results of Hubei have been consolidated beginning with July 1, 2008. Along with this, the fourth quarter 2009 results of operations reflect the business combination with Jaguar Acquisition Corporation.

For the fourth quarter of 2009, consolidated revenues of the company were $13.2 mln compared to $9.8 mln revenue for the fourth quarter of 2008 – a 35% year-over-year increase. Consolidated operating expenses for the fourth quarter period were $7.2 mln, compared to operating expenses of $5.7 mln for the same period of 2008. The main reasons for the increase of operating expenses were debt restructuring and fundraising, which was completed in Q4 2009.

The net loss attributable to ordinary shareholders for the fourth quarter of 2009 was $43.4 mln, or $11.14 per share (basic and diluted) compared to a net comprehensive loss of $4.6 mln, or $1.43 per share (basic and diluted) in Q4 2008.

For the full year ended December 31, 2009, China Cablecom reported consolidated revenues in the amount of  $45.6 mln. Pro forma operating expenses for the twelve months ended December 31, 2009 were $22.6 million. Net loss for the twelve months ended December 31, 2009 was $56.3 mln, or $16.56 per share (basic and diluted). For the reported period, the BVI company used weighted average shares outstanding of 3.4 mln.

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