The British Virgin Islands-registered holding company Global-Tech Advanced Innovations Inc. reported its financial results for the fiscal quarter ended December 31, 2009, which is the company’s third quarter of fiscal 2010.

In the third quarter of the year, company’s net sales made $25.7 million – a 68.1% increase when compared to $15.3 million for the third quarter of 2009. Net sales of electronic components increased approximately 37% in the third quarter of fiscal 2010, compared to the same quarter of the previous year. Also, in this period net revenues from telecommunication manufacturing services exceeded 10% of total revenues, compared to less than 3% of total revenues in the third quarter of the previous year.

Net income for the third quarter of the year was $0.7 million, or $0.24 per share, compared to a net loss of $1.8 million, or $0.57 per share, for the third quarter of fiscal 2009. Net sales for the nine months ended December 31, 2009 were $80.4 million, that is 13.7% more than in the same period of fiscal 2009. Net income for the first nine months of fiscal 2010 was $3.4 million, or $1.13 per share, compared to a net loss of $1.7 million, or $0.54 per share, for the first nine months of 2009.

By words of Global-Tech’s President and CEO John C.K. Sham, it is essential for the company “to continue to focus on the development of new products with higher profit margins and the further expansion of business.”

OpenTV Corporation, British Virgin Islands-registered software and technology provider of advanced digital television solutions, made an announcement on February 24, 2010 about redeeming of all of its outstanding Class A ordinary shares, other than any such shares held by Kudelski SA and two of its affiliates, collectively holding more than 90 per cent of the company.

The BVI corporation is redeeming its Class A ordinary shares for $1.55 per share, without interest and less applicable withholding taxes. The redemption was completed on March 26, 2010.

In connection with the redemption, shareholders of OpenTV will be entitled to statutory dissent rights in accordance with the British Virgin Islands law.

A month ago, OpenTV was notified by the major shareholder and its subsidiaries of the intent to give written instructions directing the BVI company to redeem all of the Class A ordinary shares not owned by Kudelski SA. On February 19, 2010, the written instructions were delivered.

Also, in connection with the redemption, OpenTV has submitted a notice to the Nasdaq Stock Market informing of its intent to voluntarily delist its Class A ordinary shares from NASDAQ upon completion of the redemption.

The corporation, previously known as Ableauctions.com, Inc, received the new name upon the completion of the share exchange transaction with SinoCoking’s subsidiary, British Virgin Islands-registered Top Favour Limited.

TuneWiki  Ltd., BVI-incorporated provider of social media music players and related applications, announced that DOCOMO Capital, Inc. has made a strategic investment in the company in a supplemental closing to its previously announced Series B financing.

The investment of DOCOMO Capital, which is the corporate venture arm of NTT DOCOMO, Inc., will help TuneWiki continue to build new products and expand its current offerings for mobile platforms and the Web. Using its patented technology, TuneWiki plans to launch a mobile game and significant feature upgrades to the TuneWiki social media player.

By words of Rani Cohen, CEO of TuneWiki, the BVI company was looking for strategic partners to help expand into new markets. He said that with the help of DOCOMO Capital, they can introduce lyrics to the majority of cell phone owners in Japan.

Also, TuneWiki announced the appointments of two executives: Lawrence Goldberg as chief executive operating officer and Michael Steiner as director of marketing.

For the first quarter of the year, BVI company’s revenues made US$5.65 million, a 31.5% decrease from US$8.24 million reported for the first quarter of the last year. The revenues were mainly from the sales of higher margin canola seed products for the quarter period. Gross profit for the three-months ended December 31, 2009 was US$3.01 million – this is a 33.6% increase from US$2.25 million reported for the same period of the prior year. Gross margins for this quarter were 53.3% versus 47.9% for the canola seed sales for Q109 (exclusive of scrap sales).

Origin Agritech reported total operating expenses for the period in the amount of US$5.71 million, compared to US$5.85 million reported for the same period of 2008. Selling and marketing expenses decreased by 20.8% and were US$1.53 million in the first quarter of 2010, compared to US$1.94 million for the same period of the last year. There was a 14.0% increase of general and administrative expenses, which made US$2.99 million against US$2.62 million for the three months ended December 31, 2008. The company noted that differences in operating expenses just represent small variations year over year, and the expenses are expected to be relatively flat annually, across all operating expenses and within each separate category.

Operating loss for the first quarter period was US$2.69 million, compared with an operating loss of US$3.59 million for the same period of 2008. Net loss for the first quarter was  US$1.98 million, or US$0.09 per diluted share, while in the first quarter of the last year it was US$2.87 million, or US$0.13 per diluted share.

Motorola, Inc., through its global, strategic equity investment arm Motorola Ventures, announced a strategic investment in TuneWiki Ltd., the British Virgin Islands-incorporated provider of next generation social media music players and related applications. Motorola as leading investor was joined by new investors Intellect Capital Ventures, which is a venture fund initiative of the leading Nordic Telecommunications operator TeliaSonera, as well as HillsVen Capital, LLC and Novel TMT. TuneWiki’s previous venture capital investor, Benchmark Israel, also took part.

TuneWiki plans to use the investment to expand and enhance its product offerings for developing Internet and mobile platforms. The company will take advantage of platform capabilities and new features found in recently released smartphones, – including stronger CPUs, always-connected capabilities, larger displays and high-resolution screens.

Rani Cohen, CEO of TuneWiki, has commented on the investment, saying: “Teaming up with a global company like Motorola is very exciting for us, … we are passionate about connecting people through music, and having our applications running in many countries with different languages will allow our users to explore the world of music and better understand its meaning as part of a vibrant and engaged community.”

Motorola Ventures focuses on “new-idea” companies and opportunities that complement the business strategy of Motorola, the company known around the world for innovation in communications and focused on advancing the way the world connects. TuneWiki, incorporated under the law of the British Virgin Islands, is an internationally award-winning social media music player. The company was founded in 2007 and has offices in LA, California, Bellbrook, Ohio, and Tel Aviv, Israel.

Aubleauctions will file an amendment to its Articles of Incorporation, which will change its name to “SinoCoking Coal and Coke Chemical Industries, Inc.” and will effect a 1-for-20 reverse split of Aubleauctions’ common stock shares issued and outstanding. The amendment will be effective on the closing date; also, on that date, according to the share exchange agreement signed on July 17, 2009, Aubleauctions will issue 13,117,952 post reverse split shares of its common stock to the shareholders of Top Favour Limited in exchange for all of the issued and outstanding capital stock of the BVI company. On or immediately upon the closing date, the company will complete the initial closing of a private placement of its equity securities to certain private investors.

The BVI holding company Top Favour Limited controls Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., which is a coal and coal-coke producer in Henan Province of China.  Hongli conducts its operations through its wholly owned subsidiaries Baofeng Hongchang Coal Co., Ltd. and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd. (collectively referred to as “SinoCoking”). After the closing date, the principal business of Aubleauctions will be SinoCoking operations, which include coal production and coke manufacturing.

The banking environment changes in the fourth quarter of 2009 impacted the sales of the BVI company in this period. Company’s gross profit was $4.0mln as compared to $12.2mln in the fourth quarter of 2009, caused by the fall of revenues in the reported period. Sales, General and Administrative Expenses remained flat and were $7.8mln in Q4 2009 as compared to $7.5mln in the same period of 2008, – as a result of strict SG&A controls implemented in the third quarter of 2009.

In the fourth quarter of 2009, non-GAAP net income of the company was $-4.9mln, compared to $4.7mln in the same period of 2008, and net income on a GAAP basis was -$5.2mln, compared to $4.4mln in the fourth quarter of 2008. Company’s earnings per share (fully diluted) made USD-0.26 (non-GAAP) and USD -0.28 (GAAP), compared to USD 0.26 (non-GAAP) and USD 0.24 (GAAP) in the fourth quarter of 2008. Although expense controls gave positive effect on the fourth quarter financials, the costs related to unsigned contracts and lower revenues caused Yucheng to generate a loss.

By the end of 2009, cash position of Yucheng was $36.3mln, compared to $35.1mln for the same period last year. Total net revenues of the company for the year 2009 totaled $54.8mln, while in 2008 they were $54.8mln. Total assets in the end of the reported year were $130.54mln, compared to $136,27mln in 2008.

Blandings Capital Limited, TSX-listed capital pool company incorporated in December 2006 and listed on the Exchange in October 2007, provided an update on proposed acquisition of all the outstanding shares of the British Virgin Islands company AMG Bioenergy Resources Holdings Ltd. AMG is working in China and other Asian markets in the area of bio fuel feedstock and biodiesel. It is anticipated that this will be Blandings’ qualifying transaction.

Also, Blandings has determined not to proceed with the proposed private placement of common shares which was intended to close concurrently with completion of the acquisition transaction. It has signed an amended and restated share exchange agreement with the BVI company. Pursuant to this agreement, signed on December 31, 2009, the date for closing of the acquisition has been extended to March 31, 2010.

Under the terms of the acquisition, Blandings will acquire from the shareholders of AMG the 15,000,000 of its common shares currently issued and outstanding, each share at a deemed value of $0.33, and will issue, subject to the approval of the exchange transaction, 25,000,000 Blandings common shares in exchange for each issued AMG common share.

Following the completion of the acquisition transaction, the Capital Pool Company will have 45,296,555 common shares outstanding. Blandings also currently has outstanding director and employee share options to acquire 812,500 common shares at a price of $0.10 per share.

The former shareholders of the BVI company and the current shareholders of Blandings will own approximately 72.96% and 27.04% respectively of the issued Blandings common shares.

The BVI corporation has already filed the preliminary redemption notice/transaction statement with the Securities and Exchange Commission relating to the proposed sale of shares. Kudelski SA, which together with its affiliates is the owner of more than 90 per cent of OpenTV, anticipates giving definitive written as the SEC has completed its review of the statements. Upon receipt of definitive written instructions, the board of directors of OpenTV will distribute a definitive redemption notice/transaction statement to its shareholders setting forth the redemption date and the redemption price, as required by the laws of the British Virgin Islands.

BVI company’s shareholder also said that it expects that the definitive written instructions will include a recommendation that OpenTV redeem the class A ordinary shares for $1.55 per share.

Currently, Kudelski is the owner of 13.4 per cent of OpenTV’s Class A shares.