TuneWiki Ltd. received strategic investment from DOCOMO Capital

February 19th, 2010
TuneWiki  Ltd. (http://www.tunewiki.com/), 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. (http://finance.yahoo.com/q?s=DCM), 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.

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.

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Origin Agritech reported financial results for three months ended December 31, 2009

February 15th, 2010

Origin Agritech Limited, a technology-focused supplier of hybrid and genetically modified crop seeds in China, incorporated in BVI, announced the unaudited financial results for the first quarter of fiscal year, ended December 31, 2009. The company reported the increase of deferred revenues by 24.8%.

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.

Origin Agritech Limited (http://bvi-companies.blogspot.com/2008/01/origin-agritech-limited.html), a technology-focused supplier of hybrid and genetically modified crop seeds in China, incorporated in BVI, announced the unaudited financial results for the first quarter of fiscal year, ended December 31, 2009. The company reported the increase of deferred revenues by 24.8%.
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 (http://finance.yahoo.com/q?s=SEED) 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

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

Motorola Ventures invests in BVI-headquartered TuneWiki

February 10th, 2010
Motorola, Inc. (http://finance.yahoo.com/q?s=MOT), through its global, strategic equity investment arm Motorola Ventures, announced a strategic investment in TuneWiki Ltd. (http://www.tunewiki.com/), 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.

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.

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Aubleauctions.com to close share exchange transaction with BVI-registered holding

February 5th, 2010

Ableauctions.com Inc., a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.

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.

Ableauctions.com Inc. (http://finance.yahoo.com/q?s=AAC), a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.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.
Ableauctions.com Inc. (http://finance.yahoo.com/q?s=AAC), a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.
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.

Posted in BVI company contracts, BVI company holdings, Share Exchange agreements | No Comments »

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