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Recon Technology Reports Third Quarter Fiscal 2013 Financial Results

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BEIJING, May 13, 2013 /PRNewswire-FirstCall/ — Recon Technology, Ltd. (Nasdaq: RCON) (“Recon” or the “Company”), a Chinese non-state-owned oilfield services provider to oil and gas companies and their affiliates, today reported results for its third quarter of fiscal 2013 ended March 31, 2013.

Nine Month Financial Highlights

  • Total revenue for the nine months ended March 31, 2013 increased 28% to RMB 62.5 million ($10.0 million).
  • Gross profit for the nine months ended March 31, 2013 increased 16% to RMB 20.6 million ($3.3 million).
  • Operating profit was RMB1.2 million ($0.2 million), up 214.6% compared to an operating loss of RMB1.0 million for the nine months ended March 31, 2012.
  • Net profit attributable to ordinary shareholders for the nine months ended March 31, 2013 was RMB 1.7 million ($0.3 million), or RMB 0.43 ($0.07) per diluted share, as compared to net loss attributable to ordinary shareholders for the same period of FY2012 of RMB 2.0 million, or a loss of RMB 0.48 per diluted share.

Q3 FY2013 Financial Highlights

  • Total revenue for the third quarter of FY2013 was RMB7.5 million ($1.2 million), a decrease of 42.4% from the same period of FY2012.
  • Gross margin increased to 55.4% for the third quarter of FY2013 from 47.9% for the same period of FY2012.
  • Net loss attributable to ordinary shareholders for the third quarter of FY2013 was RMB1.2 million ($0.2 million), or RMB0.32 ($0.05) per diluted share. Net income attributable to ordinary shareholders for the same period of FY2012 was RMB0.1 million or RMB0.03 per diluted share.

“Year to date in FY2013, our operating efficiency has continued to improve, which is reflected in our overall financial performance,” said Mr. Yin Shenping, CEO of Recon. “The temporary revenue decline in the third quarter was mainly due to timing issues related to current project completion status, rather than any changes in business fundamentals. As we complete outstanding projects, and assuming we obtain new contracts for our fracturing services and furnace business, we anticipate the coming quarters will reflect what we believe are positive results for our company.”

Mr. Yin continued, “Since our IPO in 2009, we have successfully expanded our market penetration, including in the Sichuan Oilfield, Zhongyuan Oilfield and Jilin Oilfield. Our fracturing services were recently qualified at Sinopec, which gives us the opportunity to continue to expand this new service line beyond Sinopec’s affiliate, Zhongyuan Oilfield. As we continue to capitalize on our position in China‘s fragmented oil services industry and broaden our integrated products and service offerings through R&D and collaboration with Chinese and international companies involved in the oilfield services industry, we believe Recon is well-positioned to continue to grow.”

Q3 FY2013 Financial Results

Total revenue for the third quarter of FY2013 decreased by 42.4% to RMB7.5 million ($1.2 million) from RMB13.0 million for the same period of FY2012. The decline in revenue was mainly attributable to lower sales of automation equipment and service business as a result of unfinished projects.

Gross profit decreased to RMB4.2 million ($0.7 million) for the third quarter of FY2013, down 33.3% from the same period of FY2012. Gross margin increased to 55.4% for the third quarter of FY2013 from 47.9% for the same period of FY2012. This was mainly because software sales, which have higher gross margin, accounted for a higher percentage of total revenue during the third quarter of FY2013 compared to the same period in FY2012.

Selling and distribution expenses increased by 40.6% to RMB1.8 million ($0.3 million) for the third quarter of FY2013 from RMB1.3 million for the same period of FY2012. This increase was primarily due to increased business travelling expenses, bidding maintenance expenses. General and administrative expenses decreased by 5.4% to RMB4.0 million ($0.6 million) for the third quarter of FY2013 from RMB4.2 million for the same period of FY2012. Research and development expenses decreased by 16.6% to RMB0.6 million ($0.1 million) for the third quarter of FY2013 from RMB0.7 million for the same period of FY2012.

Loss from operations was RMB2.2 million ($0.3 million) for the third quarter of FY2013, compared to an income of RMB0.1 million for the same period of FY2012. This decrease in income from operations is attributed to the decrease in revenue and increase in SG&A expenses as a percentage of revenue.

Net loss attributable to ordinary shareholders was RMB1.2 million ($0.2 million) for the third quarter of FY2013 versus net income of RMB0.1 million for the same period of FY2012. Diluted loss per share was RMB0.32 ($0.05) for the third quarter of FY2013, compared to diluted earnings per share of RMB0.03 ($0.005) for the same period of FY2012.

Adjusted EBITDA was (RMB0.1) million for the third quarter of FY2013, compared to RMB1.0 million for the same period of FY2012.

For the Three Months Ended

March 31,

Reconciliation of Adjusted EBITDA

2012

2013

2013

to Net Income (Loss)

RMB

RMB

USD

Net income (loss)

RMB

259,106

RMB

(1,248,860)

$

(198,812)

Provision for income taxes

132,883

(152,382)

(24,258)

Interest expense

225,718

618,473

98,458

Stock compensation expense

259,164

451,572

71,888

Depreciation, amortization and accretion

86,685

395,535

62,967

Adjusted EBITDA

RMB

954,305

RMB

64,338

$

10,243

As of March 31, 2013, cash and cash equivalents were RMB6.5 million ($1 million). Cash and cash equivalents consist of cash on hand, demand deposits and highly liquid short-term debt investments with stated maturities of no more than six months.

Year-to-Date FY2013 Financial Results

Total revenue for the nine months ended March 31, 2013 increased by 28.1% to RMB62.5 million ($10.0 million) from RMB48.8 million for the same period of FY2012, primarily driven by increased sales from the Hardware business as well as the Fracturing Service business.

Gross profit increased to RMB20.6 million ($3.3 million) for the nine months ended March 31, 2013, up 15.7% from the same period of FY2012. Gross margin decreased to 33.0% for the nine months ended March 31, 2013 from 36.5% for the same period of FY 2012. This was mainly related to margin contraction in our furnace business as a result of higher material and labor costs.

Selling and distribution expenses increased by 32.7% to RMB4.7 million ($0.7 million) for the nine months ended March 31, 2013 from RMB3.5 million for the same period FY 2012. This increase was primarily due to increased shipping costs and maintenance expenses. General and administrative expenses decreased by 15.5% to RMB8.5 million ($1.3 million) for the nine months ended March 31, 2013 from RMB10.0 million for the same period FY 2012. Research and development expenses were RMB6.3 million ($1 million) for the nine months ended March 31, 2013, up 18.2% from the same period of FY2012. Overall, operating expenses were RMB19.4 million ($3.1 million) for the nine months ended March 31, 2013, up 3.0% from the same period of FY2012.

Income from operations was RMB1.2 million ($0.2 million) for the nine months ended March 31, 2013, compared to a loss of RMB1.0 million for the same period of FY2012. This increase in income from operations can be attributed primarily to an increase in total revenue and decrease in general and administrative expenses as a percentage of total revenue.

Net income attributable to ordinary shareholders was RMB1.7 million ($0.3 million) for the nine months ended March 31, 2013, an improvement of RMB3.6 million from net loss of RMB1.9 million for the same period of FY2012. Diluted earnings per share was RMB0.43 ($0.07) for the nine months ended March 31, 2013, compared to diluted loss per share of RMB0.48 for the same period of FY2012.

Adjusted EBITDA was RMB5.9 million ($0.9 million) for the nine months ended March 31, 2013, 1,750.7% increased compared to RMB0.3 million for the same period of FY2012.

For the Nine Months Ended

March 31,

Reconciliation of Adjusted EBITDA

2012

2013

2013

to Net Income (Loss)

RMB

RMB

USD

Net income (loss)

RMB

(1,564,708)

RMB

2,300,423

$

366,218

Provision for income taxes

345,964

302,550

48,164

Interest expense

502,013

1,494,887

237,979

Stock compensation expense

784,010

1,358,726

216,303

Depreciation, amortization and accretion

252,842

467,914

74,490

Adjusted EBITDA

RMB

320,121

RMB

5,924,500

$

943,154

For the nine months ended March 31, 2012, net cash provided by operating activities was RMB17.3 million ($2.8 million). This was an increase of RMB26.5 million ($4.2 million) compared to net cash used in operating activities of RMB9.2 million for the same period of FY2012.

Net cash used in financing activities amounted to RMB14.1 million ($2.2 million) for the nine months ended March 31, 2013, compared to net cash provided by financing activities of RMB8.8 million for the same period of FY2012. During the fiscal 2013 nine-month period, we repaid RMB21.7 million ($3.4 million) commercial bank loan and received a RMB8.35 million ($1.3 million) loan from two banks, which was guaranteed by one of our shareholders.

Net cash used in investing activities was RMB0.5 million ($0.1 million) for the nine months ended March 31, 2013, compared to RMB0.6 million for the same period of FY2012. The slight decrease was mainly due to approximately RMB0.2 million increase in proceeds from disposal of fixed assets and offset by approximately RMB0.1 million increase in purchase of property and equipment.

About Recon Technology, Ltd.

Recon Technology, Ltd. is a non-state-owned oil field service company in China. The company has been providing software, equipment and services designed to increase the efficiency and automation in oil and gas exploration, extraction, production and refinery for Chinese oil and gas fields for more than 10 years. More information may be found at http://www.recon.cn or e-mail: info@recon.cn.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission.

All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact:

At the Company:
Recon Technology, Ltd.
Tel: +86-10-8494-5799
Email: info@recon.cn
Web: http://www.recon.cn

Investor Relations:
Tina Xiao
Weitian Group LLC
Email: tina.xiao@weitian-ir.com
Web: http://www.weitian-ir.com

RECON TECHNOLOGY, LTD

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

As of June 30,

As of March 31,

As of March 31,

2012

2013

2013

ASSETS

RMB

RMB

U.S. Dollars

Current assets

Cash and cash equivalents

RMB

3,533,283

RMB

6,452,691

$

1,027,237

Trade accounts receivable, net

61,993,942

49,012,257

7,802,512

Trade accounts receivable- related parties, net

20,394,749

17,693,490

2,816,717

Inventories, net

24,281,300

14,884,099

2,369,476

Other receivables, net

8,074,096

17,858,793

2,843,033

Other receivables- related parties

17,729

1,056,696

168,221

Purchase advances, net

16,250,616

21,687,064

3,452,475

Purchase advances- related parties

1,093,534

1,394,034

221,923

Tax recoverable

2,790,722

Prepaid expenses

535,336

809,686

128,898

Deferred tax asset

1,106,801

1,094,438

174,229

Total current assets

140,072,108

131,943,248

21,004,721

Property and equipment, net

1,774,820

1,795,564

285,845

Long-term other receivable

10,302,349

5,228,053

832,280

Total Assets

RMB

152,149,277

RMB

138,966,865

$

22,122,846

LIABILITIES AND EQUITY

Current liabilities

Short-term bank loans

RMB

23,000,000

RMB

9,697,048

$

1,543,723

Trade accounts payable

11,905,560

6,262,528

996,964

Trade accounts payable- related parties

5,339,231

5,449,388

867,516

Other payables

2,341,826

2,290,687

364,666

Other payable- related parties

1,099,259

5,998,879

954,992

Deferred revenue

3,291,073

3,135,904

499,221

Advances from customers

936,124

1,181,120

188,029

Accrued payroll and employees’ welfare

949,579

1,663,438

264,811

Accrued expenses

476,416

343,163

54,630

Taxes payable

9,681,620

6,693,590

1,065,587

Short-term borrowings- related parties

4,123,306

5,751,381

915,592

Short-term borrowings- other

2,767,066

570,375

90,801

Total current liabilities

65,911,060

49,037,501

7,806,532

Commitments and Contingency

Equity

Common stock, ($ 0.0185 U.S. dollar par value, 25,000,000
shares authorized; 3,951,811 shares issued and outstanding as
of June 30, 2012 and March 31, 2013)

529,979

529,979

84,370

Additional paid-in capital

67,643,791

69,053,281

10,992,945

Appropriated retained earnings

2,378,961

2,378,961

378,719

Unappropriated retained earnings

9,354,535

11,051,996

1,759,424

Accumulated other comprehensive loss

(290,496)

(307,385)

(48,936)

Total controlling shareholders’ equity

79,616,770

82,706,832

13,166,522

Non-controlling interest

6,621,447

7,222,532

1,149,792

Total equity

86,238,217

89,929,364

14,316,314

Total Liabilities and Equity

RMB

152,149,277

RMB

138,966,865

$

22,122,846

RECON TECHNOLOGY, LTD

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the nine months ended

For the three months ended

March 31,

March 31,

2012

2013

2013

2012

2013

2013

RMB

RMB

USD

RMB

RMB

USD

Revenues

Hardware

RMB

30,162,440

RMB

30,766,627

$

4,897,897

RMB

6,997,916

RMB

4,161,583

$

662,504

Service

5,547,005

20,567,637

3,274,267

1,990,000

62,678

9,978

Software

3,952,991

5,192,712

826,654

Software – related parties

2,273,504

361,931

2,273,504

361,931

Hardware – related parties

9,143,503

3,736,107

594,770

4,031,206

1,004,030

159,837

Total revenues

48,805,939

62,536,587

9,955,519

13,019,122

7,501,795

1,194,250

Cost of revenues

30,979,868

41,915,938

6,672,812

6,786,052

3,346,344

532,722

Gross profit

17,826,071

20,620,649

3,282,707

6,233,070

4,155,451

661,528

Selling and distribution expenses

3,537,806

4,693,193

747,133

1,273,126

1,790,199

284,991

General and administrative expenses

10,008,519

8,452,540

1,345,603

4,193,772

3,966,782

631,492

Research and development expenses

5,318,048

6,284,834

1,000,515

662,743

552,645

87,978

Operating expenses

18,864,373

19,430,567

3,093,251

6,129,641

6,309,626

1,004,461

Income (loss) from operations

(1,038,302)

1,190,082

189,456

103,429

(2,154,175)

(342,933)

Other income (expenses)

Subsidy income

554,856

2,143,669

341,262

540,756

1,343,669

213,906

Interest income

3,089

443,391

70,586

286

137,803

21,938

Interest expense

(502,013)

(1,494,887)

(237,979)

(225,718)

(618,473)

(98,458)

Gain from foreign currency exchange

339,876

54,107

(185)

(29)

Other income (expense)

(236,374)

(19,158)

(3,050)

(26,764)

(109,881)

(17,493)

Income (loss) before income tax

(1,218,744)

2,602,973

414,382

391,989

(1,401,242)

(223,069)

Provision (benefit) for income tax

345,964

302,550

48,164

132,883

(152,382)

(24,258)

Net Income (loss)

(1,564,708)

2,300,423

366,218

259,106

(1,248,860)

(198,811)

Less: Net income attributable to non-controlling interest

325,867

602,961

95,988

140,410

(2,127)

(339)

Net Income (loss) attributable to Recon Technology, Ltd

RMB

(1,890,575)

RMB

1,697,462

$

270,230

RMB

118,696

RMB

(1,246,733)

$

(198,472)

Comprehensive income (loss)

Net income (loss)

(1,564,708)

2,300,423

366,218

259,106

(1,248,860)

(198,811)

Foreign currency translation adjustment

(119,795)

(16,889)

(2,689)

(119,973)

(717)

(114)

Comprehensive income (loss)

(1,684,503)

2,283,534

363,529

139,133

(1,249,577)

(198,925)

Less: Comprehensive income attributable to non-controlling interest

313,888

601,084

95,690

128,449

(2,207)

(351)

Comprehensive income (loss) attributable to Recon
Technology, Ltd

RMB

(1,998,391)

RMB

1,682,450

$

267,839

RMB

10,684

RMB

(1,247,370)

$

(198,574)

Earning (loss) per common share – basic and diluted

RMB

(0.48)

RMB

0.43

$

0.07

RMB

0.03

RMB

(0.32)

$

(0.05)

Weighted – average shares -basic and diluted

3,951,811

3,951,811

3,951,811

3,951,811

3,951,811

3,951,811

RECON TECHNOLOGY, LTD

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the nine months ended March 31,

2012

2013

2013

RMB

RMB

U.S. Dollars

Cash flows from operating activities:

Net income (loss)

RMB

(1,564,708)

RMB

2,300,423

$

366,218

Adjustments to reconcile net income (loss) to net cash
provided by (used in) operating activities:

Depreciation

252,842

467,914

74,490

Loss from disposal of equipment

18,887

26,845

4,274

Provision/(recovery of) for doubtful accounts

1,695,435

(82,420)

(13,121)

Stock based compensation

784,010

1,358,726

216,303

Deferred tax (benefit)/provision

(315,125)

12,363

1,968

Changes in operating assets and liabilities:

Trade accounts receivable

(16,718,352)

13,156,606

2,094,467

Trade accounts receivable-related parties

2,701,259

430,027

Notes receivable

1,276,574

Other receivable, net

2,301,650

(4,641,896)

(738,968)

Other receivables related parties, net

(1,038,967)

(165,398)

Purchase advance, net

(10,691,586)

(5,597,453)

(891,087)

Purchase advance-related party, net

(300,500)

(47,838)

Tax recoverable

2,790,722

444,269

Prepaid expense

(1,409,973)

(274,350)

(43,675)

Inventories

6,586,927

9,397,201

1,495,988

Trade accounts payable

6,462,714

(5,643,032)

(898,343)

Trade accounts payable-related parties

110,157

17,536

Other payables

2,087,020

(51,139)

(8,141)

Other payables-related parties

4,899,620

779,996

Deferred income

(899,460)

(155,169)

(24,702)

Advances from customers

30,705

244,996

39,002

Accrued payroll and employees’ welfare

(41,042)

713,859

113,643

Accrued expenses

(34,268)

(133,253)

(21,213)

Taxes payable

934,906

(2,988,030)

(475,680)

Net cash provided by (used in) operating activities

(9,242,844)

17,274,482

2,750,015

Cash flows from investing activities:

Purchase of property and equipment

(564,831)

(676,504)

(107,696)

Proceeds from disposal of equipment

4,900

161,000

25,630

Net cash used in investing activities

(559,931)

(515,504)

(82,066)

Cash flows from financing activities:

Proceeds from short-term bank loans

9,000,000

8,350,000

1,329,279

Repayments of short-term bank loans

(5,000,000)

(21,652,952)

(3,447,044)

Proceeds from short-term borrowings

574,597

Proceeds from borrowings-related parties

4,198,901

3,658,102

582,352

Repayment of short-term borrowings

(500,000)

(2,275,764)

(362,290)

Repayment of short-term borrowings-related parties

(2,232,477)

(355,399)

Capital contribution in VIE

500,000

20,000

3,184

Net cash provided by (used in) financing activities

8,773,498

(14,133,091)

(2,249,918)

Effect of exchange rate fluctuation on cash and cash equivalents

(100,863)

293,521

46,724

Net increase (decrease in) cash and cash equivalents

(1,130,140)

2,919,408

464,755

Cash and cash equivalents at beginning of period

3,485,944

3,533,283

562,482

Cash and cash equivalents at end of period

RMB

2,355,804

RMB

6,452,691

$

1,027,237

Supplemental cash flow information

Cash paid during the period for interest

RMB

334,014

RMB

1,356,581

$

215,961

Cash paid during the period for taxes

RMB

481,723

RMB

832,028

$

132,455

View in PR Newswire Asia website: Recon Technology Reports Third Quarter Fiscal 2013 Financial Results

Written by asiafreshnews

May 13, 2013 at 10:02 pm

Posted in All releases

Make Your Graduation Day Extra Special with AnyCodes’ Unlimited Coupons and Deals for Graduation Season

leave a comment »

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AnyCodes is a website devoted to helping shoppers save time and money by using online coupon codes and discounts. The site compiles online coupons, deals, and special offers from thousands of merchants, giving shoppers the opportunity to save money on just about anything they’re planning to buy. AnyCodes is free to use and new discounts are becoming available every day. For more information on AnyCodes and to view thousands of online coupon codes and discounts, please log on to http://www.anycodes.com/.

View in PR Newswire Asia website: Make Your Graduation Day Extra Special with AnyCodes’ Unlimited Coupons and Deals for Graduation Season

Written by asiafreshnews

May 13, 2013 at 9:47 pm

Posted in All releases

‘Latte Series’ with 10 Million Downloads Is Going Global!

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LatteScreen’s Grand Global Launch in 14 Countries

SEOUL, South Korea, May 13, 2013 /PRNewswire/ —

LatteScreen Launches in 14 Countries Across Asia, Europe and North America

The First Incentivizing Mobile Advertising Platform on Smartphone Lock Screen

Jeong Soohwan, CEO of AppDisco (http://eng.adlatte.com/), the market leader in reward-based mobile advertising scene, announces the launch of LatteScreen in 12 countries in addition to its current operations in Korea and Japan. On May 13th, the product will be released in six countries/regions including Australia, UK, Taiwan, Spain, Malaysia and Vietnam. The service will also be available in Hong Kong, Italy, Germany, France, Thailand and the US by the end of May. 

Celebration of LatteScreen's Global Launch.
Celebration of LatteScreen’s Global Launch.

In February, LatteScreen was first launched in Korea and Japan. It marked the inception of the very first reward-based mobile advertising platform that utilizes the lock screen on smartphone devices. During the trial period with its beta version, it reached two million downloads in the two countries combined, exhibiting the potential of the service.

LatteScreen incentivizes users for permitting and engaging in ads on their lock screen. The application has a very simple interface that gives the users the options of swiping a tab to the left or right, which unlocks the screen or leads to further details about the advertisement. The simplicity and convenience of LatteScreen guarantees satisfactory user experience. It also provides a variety of contents with photography and illustrations to meet users’ desire for wallpaper design. In addition, the registration process was simplified for the global release, allowing users to sign up simply with an e-mail address.

LatteScreen incorporates a more neutral way of bringing advertisements to users as the lock screen placement and design are less obtrusive. It offers full size advertisement images, helping advertisers reinforce their brand image in a novel manner. LatteScreen gives out higher rewards to users who engage in activities such as installing an app, fulfilling the demand and interest of both the users and advertisers.

Through the launch of LatteScreen overseas, AppDisco embarks on its ambitious journey to become the major incentivizing mobile advertising platform company in the global market. According to Yoo Bumryung, Co-Founder and Chief Strategy Officer of AppDisco, “Based on the potential growth of the mobile advertising market, this user-friendly application will satisfy users who are not familiar with the usage of mobile applications with its simple user interface and the benefit of rewards. We see this as the key to gain positive response from the global market.” Also, AppDisco is working towards establishing branch offices, or alternatively, attain partnerships in each country to optimize sales and marketing strategies.

The CEO added, “We have been preparing this global launch sincerely and punctually. I believe that the expertise we gained from pioneering the Korean & Japanese markets over the past few years will be of huge help in successfully launching LatteScreen overseas.” He continued, “With the global launch, we will do our best to be the start of borderless mobile business and to be the global bridge that connects our users with the global network.”

About AppDisco

AppDisco, headquartered in Seoul, South Korea, is a trendy, creative business venture that strives to give users a new and fun experience through its products: AdLatte and LatteScreen. These two applications are AppDisco’s representative services that are leading the mobile advertising industry in Korea. With unique ideas and a passionate approach, AdLatte and LatteScreen aim to help people understand the paradigm shift from web to mobile by developing original contents for smartphone and tab devices.

Currently, AdLatte is Korea’s number one reward-based mobile advertising application with over eight million downloads in Korea and Japan. In February and April, LatteScreen launched with its beta version in the two countries and hit two million downloads. AppDisco is providing performance based advertising services that allow advertisers to mark their market and see instant results. While advertisers can target their customers, users can also choose the advertisement of their choice and get rewarded!

For further information, check www.eng.adlatte.com or http://www.facebook.com/appdisco.global

Disclaimer

“The information in this press release thereto, is strictly confidential and may be legally privilege.”

Contact Info:

AppDisco Global PR Manager: Lyla Jeong
E lyla@adlatte.com
T +82-70-4658-4724

View in PR Newswire Asia website: ‘Latte Series’ with 10 Million Downloads Is Going Global!

Written by asiafreshnews

May 13, 2013 at 9:47 pm

Posted in All releases

Frost & Sullivan Recognizes Selventa’s Proprietary Systems Diagnostics Technology Platform

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— SysDx helps doctors make the best therapeutic decisions by providing an in-depth understanding of intervening biochemical mechanisms

MOUNTAIN VIEW, Calif., May 13, 2013 /PRNewswire/ — Based on its recent analysis of the systems diagnostics market, Frost & Sullivan recognizes Selventa with the 2013 North America Frost & Sullivan Award for Technology Leadership. Selventa stands out in the personalized diagnostics field with its proprietary Systems Diagnostics (SysDx™) technology platform. SysDx™ tests make the most of the convergence of a broad range of complex, biological, molecular information to generate a clinically relevant report for physicians, patients, and researchers. This thorough personalized diagnostics approach lends strong validation, support and reliability to SysDx’s reports.

“Selventa’s technology can categorize patient subtypes by identifying the mechanistic biological drivers of disease, which is critical in clinical trials and clinical diagnosis,” said Frost & Sullivan Sr Research Analyst Cecilia Van Cauwenberghe. “Selventa developed a stratified medicine approach by creating molecular footprints derived from individual’s omics-based data to identify differentially expressed genes. This approach allows the SysDx to measure the signaling strength of the therapeutics’ target in each individual’s biological profile.”

Diseases are characterized according to their phenotype, usually avoiding sub-categories related to specific mechanisms or genotypes — both important contributors to the phenotype. The most prominent reasons for the failure of clinical trials are either unmet pharmacology requirements or deficiencies in the mechanism targeted by the investigational agent. Indeed, the molecular drivers for most chronic diseases, including asthma, diabetes, Parkinson’s and Alzheimer’s diseases, as well as most cancers, demonstrate a variety of complexities beyond genomic variations.

Personalized medicine takes into account the myriad of interrelated, biochemical pathways involved in the evolution of the disease to create an optimal treatment solution. However, despite the significant strides taken by personalized medicine, especially in oncology, labs continue to underutilize routine testing procedures in the investigation of new agents in clinical trials.

The next-generation approach, proposed by Selventa through its SysDx™, enables the integration of new knowledge about a specific disease by consolidating and cross-referencing existing biomedical literature. The company has developed internal learning cycles by accruing insights from customers. This will help refine biomarker patterns to reveal enhanced therapeutics around the investigational agent.

“Selventa’s knowledgebase, a collection of curated data characterizing over 2,200 different processes from a variety of sources, allows early identification of the disease-driving mechanisms,” noted Van Cauwenberghe. “It is leading the development of predictive diagnostics in multi-factorial disease areas, including autoimmune and infectious diseases, and oncology.”

The technology has already crossed important milestones in the field of breast cancer, rheumatoid arthritis, and inflammatory bowel disease. Its success has prompted the company to pump 13 percent of its revenues back into R&D.

Selventa also fosters strong relationships with pharmaceutical and biotechnology companies, diagnostic services companies, clinical research organizations, as well as academic- and government-affiliated clinical organizations.

Each year, Frost & Sullivan presents this award to the company that demonstrated excellence in technology leadership within its industry by excelling in all stages of the technology life cycle — incubation, adaptation, take up, and maturity — to ensure a continuous flow of improvements. By innovating leading-edge concepts, the company has pioneered client applications.

Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.

About Selventa

Selventa is pioneering the development of Systems Diagnostics (SysDx™). This novel approach to diagnostic development harnesses a comprehensive range of complex, biological information (genomic, epigenomic, transcriptomic, proteomic, metabolomic, electronic medial records) to generate a clinically relevant dashboard that physicians, patients and researchers can use to make an optimal treatment decision or stratify patient populations.

SysDx tests are enabled by Selventa’s “Big Data” analytics engine that integrates, processes, and analyzes the molecular information from thousands of patients to identify biomarkers linked to disease-driving mechanisms. SysDx tests are differentiated by their ability to capture a holistic picture of a patient’s disease and drug-response profile. This is in contrast to MDx tests that are limited by their focus on a particular class of biological analytes (e.g. genomics-only tests). This superior predictive and prognostic value is required in the diagnosis of complex multi-factorial diseases such as autoimmune disease and cancer.

For more information, visit www.selventa.com

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion
Join Us: Join our community
Subscribe: Newsletter on “the next big thing”
Register: Gain access to visionary innovation

Contact:
Mireya Espinoza
P: +1-210-247-3870
F: +1-210-348-1003
E: mireya.espinoza@frost.com

For more information, please contact:
Diane H. Song, Ph.D., +1-617-547-5421 x235
dsong@selventa.com

Constantine Theodoropulos
Base Pair Group
constantine@basepairgroup.com
www.basepairgroup.com 

View in PR Newswire Asia website: Frost & Sullivan Recognizes Selventa’s Proprietary Systems Diagnostics Technology Platform

Written by asiafreshnews

May 13, 2013 at 9:18 pm

Posted in All releases

Five Trends for Swimwear in 2013

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CHENGDU, China, May 13, 2013 /PRNewswire/ — It seems that it’s hard to stop us itching for those deserted shores to enjoy playfulness and some surfing. Every year, talented designers will try their best to offer bright and non-ordinary models of swimsuits for every taste and body type in order to create a trendy, individual image. No matter whether you are a fashion-forward trendsetter or simply a resortwear-loving gal, you can get fully inspired from the following five trends for swimsuits in 2013.

Printed Swimsuites

Prints are always hot in summer; printed dresses, bags, shoes, even accessories. There’s a great array of print swimwear from which to choose, from sea-inspired motifs to animal-inspired prints to whimsical prints. Floral, exotic and animal prints, as well as prints with shimmering colors of sea water are the most common types this summer. No matter how those designers were inspired, their prints have become huge now.

Ruffle or Fringe

If there is one element which has no restrictions on any styles of swimsuits, tops, bikini bottoms, one-piece swimsuits and cover-ups, it must be ruffles and fringes this year. What’s more, it can be very good when you want to put emphasis in a particular area to balance your figure.

Retro Bustier and High waist

Reminiscent of the 1940s or 1950s, retro two piece swimsuits with a bustier top, low necklines and high waists in panties are very popular. It’s a lovely choice for women who want more coverage on the beach.

Shoulder Emphasis or With Sleeves

This year comes the a trend other than brief bikinis. Designers seem to want more upper coverage and are making new creations for the shoulders. You may want to have a try after you check those Victoria‘s Secret and Aquarelle items.

One-piece with Geometric design

It seems that we’ve also got another throwback look- the geometric design one-piece. We never are lacking of these one piece swimsuits designs. This is good news for women who are expecting this.

View in PR Newswire Asia website: Five Trends for Swimwear in 2013

Written by asiafreshnews

May 13, 2013 at 9:17 pm

Posted in All releases

IGXE Appeals to Webmasters Not to Use Network Marketing Companies In Order To Avoid Punishment from Google

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WILMINGTON, Del., May 13, 2013 /PRNewswire/ — In January 2013, IGXE (www.igxe.com), one of the top in-game branding service websites specializing in MMORPG currencies, items, power leveling, and CD-keys, was punished by Google after IGXE took advantage of network marketing companies to improve its website ranking. When IGXE disappeared from the Google search engine, customers were left wondering why. Some even assumed that IGXE was closed. Others felt panic over their unused bonuses and vouchers. For this, the manager of IGXE marketing department, Vinson Hall, sought to assuage all concerns in an interview.

This punishment brought big losses to IGXE.com, as we lost lots of customers including our old customers. We learned a lesson. Vinson said that IGXE has already terminated its cooperation with network marketing companies. What’s more, bonuses or vouchers can still be used on IGXE. At any given time, IGXE will always protect its customers.

What Happened To IGXE?

In January 2013, IGXE received an email from Google stating that IGXE had used paid links to obtain good rankings. The punishment which followed resulted in IGXE.com being removed from the Google search engine. Some IGXE customers, who are used to searching for IGXE on Google, felt it was strange when they could not find it.

IGXE took the quick action of terminating the service and required the marketing companies to delete all spam links. Also they contacted Google’s customer service to explain the case. With the help of Google’s suggestion, IGXE cleared all of the spam links.

RELATED LINKS:

http://www.igxe.com/news/game-news-46126.html

The Interview with IGXE CEO

What were the consequences of Google’s punishment?

It influenced our reputation significantly. Even now, some customers think that IGXE is closed. Besides, Google’s punishment affected IGXE negatively. As far as we know, we have already lost 30 percent of our old customers. Although we tried many other ways to reduce the loss, we still lost the trust of customers. This cannot be calculated.

What is your next plan?

We will go on with link clearing, and keep in touch with Google until we get the ranking back.

The Suggestion from Network Marketing Specialists

Network marketing specialists advise webmasters not to use Blackhat techniques, or else the websites will be punished or deleted. Zac, the famous SEO specialist, said that there many ways to cheat SEO including hidden links, link spam, paid links, keyword stuffing, and more. Using these methods to get good ranking will result in disaster for the website. Webmasters should think carefully before resorting to these methods. Another expert also said that the search engine hates blackhat techniques very much. They will rigorously punish any attempts. Do not take the chance.

IGXE is a highly popular website with its customers. It was punished because it hired marketing companies to promote the company’s ranking illegally. They realized the serious consequences of their actions and appealed to webmasters not to use it to avoid the punishment. As for IGXE, they will continue to contact Google and make every effort to recover their website page rank.

RELATED LINKS:

http://www.igxe.com/news/game-news-46126.html

View in PR Newswire Asia website: IGXE Appeals to Webmasters Not to Use Network Marketing Companies In Order To Avoid Punishment from Google

Written by asiafreshnews

May 13, 2013 at 9:17 pm

Posted in All releases

Focus on Huntkey at COMPUTEX 2013, Taipei

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SHENZHEN, China, May 13, 2013 /PRNewswire/ – Huntkey Enterprise Group, a global professional power supply provider, will show its lineup of products at COMPUTEX 2013, Taipei, Jun. 4 – 8. The booth number of Huntkey is J1009a, Nangang Hall.

As a well-known power supply provider, this year, Huntkey will consolidate its leading position in this area and surprise customers with its latest FX Series of power supplies, including FX500SE (80PLUS Platinum), FX620M (80PLUS Bronze) and FX750GM (80PLUS Gold). At COMPUTEX 2013, Huntkey will also bring a super slim 80PLUS Bronze power supply for all-in-one PCs. There will also be 5 80PLUS Platinum server power supplies on hand, which will help to demonstrate Huntkey’s professionalism and dominance in different aspects of the power supply industry.

(Huntkey FX500SE Power Supply Image: http://dealer.huntkey.com/UserFiles/uploadfiles/images/20130513170017087.JPG)

Huntkey has provided several notebook adapters with different wattages. The latest 45W adapter for ultrabooks will make its world debut at the trade show. Huntkey is also providing several notebook adapters upgraded with better solutions and wider compatibility.

(Huntkey 45W Ultrabook Adapter Image: http://dealer.huntkey.com/UserFiles/uploadfiles/images/20130513170306103.jpg)

Huntkey will also be exhibiting several power banks, with different capacities, designed to meet your differing charging needs when you are on-the-go. The latest HPBA12000 provides the largest capacity with up to 12000mAh.

(Huntkey HPBA12000 Power Bank Image: http://dealer.huntkey.com/UserFiles/uploadfiles/images/20130513170640525.jpg)

The latest iCarMate Car Charger Series will provide many charging solutions for your iPhone5, iPad 4, iPad Mini and more. The Huntkey Lightning to USB Cables, with different color options, will serve as a satisfactory backup for original cables.

Huntkey is also bringing several high quality power strips of different standards to meet global needs. There are also two interesting systems – the smart housing system and the TV remote control system, as well as some cutting-edge gadgets.

All are welcome to visit Huntkey at COMPUTEX 2013, Taipei!

Date: Jun. 4 – 8, 2013.

Booth No.: J1009a, Nangang Hall.

(Invitation Letter: http://dealer.huntkey.com/UserFiles/uploadfiles/images/20130513170728103.jpg)

About Huntkey

Huntkey Enterprise Group, founded in 1992, is a professional provider that specializes in the development, design, manufacturing and marketing of power supplies. Huntkey’s products include power supplies (1W~250KW), power systems, computer cases, universal notebook adapters, power banks, chargers, power supply converters, power strips, LED lights, and more. The industrial parks of Huntkey in Shenzhen, Heyuan and Hefei, which cover a total area of over 750,000 square meters, are now the largest IT manufacturing base in mainland China. Huntkey, with over 8,000 employees has set up its branch companies in Hong Kong and Japan. Its clients are found all over the world in more than 50 countries and regions, including Lenovo, DELL, Bestbuy, Exper, Vestel, Positivo, Durama, Unicoba, DSG, HCL, Carrefour, FPT, Siragon, Olidata, and others.

For more information about Huntkey, please visit http://dealer.huntkey.com/en/.

View in PR Newswire Asia website: Focus on Huntkey at COMPUTEX 2013, Taipei

Written by asiafreshnews

May 13, 2013 at 9:17 pm

Posted in All releases

Symmetricom Announces SoftClock Integration with SK telesys Small Cells

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SK telesys joins SyncWorld Ecosystem Program as new Small Cells Partner

SAN JOSE, Calif., and SEOUL, South Korea, May 13, 2013 /PRNewswire/ — Symmetricom®, Inc. (NASDAQ: SYMM), a worldwide leader in precision time and frequency technologies, today announced the successful design integration of its SoftClocks with small cells offered by SK telesys, the wireless system manufacturer of SK Group Korea. This enables SK telesys to join Symmetricom’s SyncWorld® Ecosystem Program in the Small Cells category.

(Logo: http://photos.prnewswire.com/prnh/20110829/AQ59077LOGO)

SK telesys produces and supplies repeaters that act as the core devices for telecom providers’ CDMA/WCDMA services. The company’s two small cell products, the SLN-FN080 and SLN-FD080, have integrated Symmetricom’s SCr100 Small Cell SoftClock solution using network time protocol (NTP) signals.

“With the successful integration and induction as a Small Cells partner with Symmetricom, mobile operators can gain confidence that the various integrated components of our residential small cells solution will work at optimal performance,” said Dr. IH Sohn, Director at SK telesys. “For telecom service providers, having Symmetricom’s timing and synchronization element is critical, especially as they evolve to 4G/LTE networks.”

Symmetricom’s SyncWorld Small Cells partners offer solutions such as semiconductors, oscillators, software, test equipment and systems required to deliver an interoperable small cell solution. The SyncWorld Ecosystem Program was created to enable interoperability, integration and cooperation among such vendors to meet service providers’ advanced networking requirements for precise timing and synchronization.

“With companies like SK telesys leading the pack in the residential small cells market South Korea is at the forefront of development in this field,” said Manish Gupta, vice president of marketing and business development for Symmetricom. “We welcome SK telesys to the SyncWorld Ecosystem and look forward to enabling small cells deployments with our growing network of partners.”

About SK telesys

SK telesys specializes in communications equipment through research, development and marketing, and produces repeaters, transmission equipment and WiBro (Mobile WiMAX), among other devices. Headquartered in South Korea, the company was founded in 1997 to provide optimized solutions to communications companies. To learn more, visit: www.sktelesys.co.kr/eng.

About Symmetricom, Inc.

Symmetricom (NASDAQ:SYMM), a world leader in precise time solutions, sets the world’s standard for time. The company generates, distributes and applies precise time for the communications, aerospace/defense, IT infrastructure, power and metrology industries. Symmetricom’s customers, from communications service providers and network equipment manufacturers to governments and their suppliers worldwide, are able to build more reliable networks and systems by using the company’s advanced timing technologies, atomic clocks, services and solutions. All products support today’s precise timing standards, including GPS-based timing, IEEE 1588 (PTP), Network Time Protocol (NTP), Synchronous Ethernet and DOCSIS® timing. Symmetricom is based in San Jose, Calif., with offices worldwide. For more information, visit: http://www.symmetricom.com or join the dialogue at http://www.twitter.com/symmetricom.

SYMM-P

Symmetricom Contact:
Tracy Schriver
Symmetricom, Inc.
t: 408-964-7649
tschriver@symmetricom.com

Media Contact:
Liam Rose
GolinHarris for Symmetricom
t: 415-318-4380
lrose@golinharris.com

View in PR Newswire Asia website: Symmetricom Announces SoftClock Integration with SK telesys Small Cells

Written by asiafreshnews

May 13, 2013 at 9:17 pm

Posted in All releases

Far East Energy Names Jennifer D. Whitley Chief Financial Officer

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HOUSTON, May 13, 2013 /PRNewswire/ — Far East Energy Corporation (OTCBB:FEEC) announced today that Jennifer D. Whitley has been appointed as Chief Financial Officer to succeed Bruce N. Huff. On May 7, 2013, Mr. Huff notified the Company that he was resigning as the Company’s Chief Financial Officer for medical reasons.

“It is with sadness that we announce Bruce Huff’s resignation and retirement,” said Michael R. McElwrath, CEO and President of Far East Energy. Continuing, McElwrath said, “As the Company’s longest-tenured CFO, Bruce has made many tremendous contributions to Far East Energy. He joined the Company in May of 2004, and while serving as CFO saw the company successfully acquire its lynchpin Shouyang concession from ConocoPhillips, was a key contributor to many successful fundraises that funded the early exploration and initial development of our high permeability discovery in Shouyang, and tirelessly fulfilled a very demanding role as our CFO.

“Bruce was also responsible for bringing Jennifer Whitley to the Company. His value to the Company and its shareholders cannot be over-estimated. I am pleased that Jennifer has been able to take on the mantle of CFO during this busy period for the company; her previous experience as Finance Director of a UK listed oil & gas company and CFO of a US mid-stream international energy company provide a strong background for this role. Given events of the past year in which Jennifer played an integral role, the transition will be seamless.”

McElwrath continued, “We wish Bruce and his family great happiness in his retirement. The Board of Directors and the entire staff — from corporate headquarters to the Beijing staff as well as our field personnel, join in thanking Bruce for the key role he played in the history of Far East.”

Ms. Whitley has served as the interim Chief Financial Officer of the Company since February 2013 and Director of Finance of the Company since January 2011. Prior to joining the Company, Ms. Whitley served as the Chief Financial Officer of Zero Emission Energy Plants Ltd, a mid-stream international energy company focused in Louisiana and China, from 2008 to 2010. From 2006 to 2008, Ms. Whitley served as the Finance Director of Global Energy Development PLC where she was responsible for all of the financial, accounting, and administrative matters for the UK listed company’s international oil exploration and production operations. Previously, Ms. Whitley worked at Harken Energy Corporation and on the audit staff of Ernst & Young LLP.

Mrs. Whitley is a Certified Public Accountant and serves on the board of Zero Emission Energy Plants, as well as the board of the Houston Chapter of Financial Executives International. She also serves as Chairman of the Youth Development Center and on the Advisory Board of MentorConnect. She is a member of the Texas Society of CPAs and has previously served on the Business Advisory Council of Pepperdine University. In 2006, Mrs. Whitley received the Change the World Award from her university in honor of her not-for-profit work with children in Houston’s under-served neighborhoods.

Far East Energy Corporation

Based in Houston, Texas, with offices in Beijing, and Taiyuan City, China, Far East Energy Corporation is focused on coalbed methane exploration and development in China.

This press release and the conference call contains or will contain forward-looking statements. Forward-looking statements give Far East Energy Corporation’s current expectations or forecasts of future events based on management’s beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in Far East Energy Corporation’s filings with the Securities and Exchange Commission. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we cannot assure you that our expectations will prove correct. Forward-looking statements in this press release and the conference call relate to, among other things, the intended use of proceeds from the private placement and planned activities. Factors that could cause actual results to differ materially from those projected in such forward-looking statements include: the preliminary nature of well data, including permeability and gas content; there can be no assurance as to the volume of gas that is ultimately produced or sold from our wells; the fracture stimulation program may not be successful in increasing gas volumes; due to limitations under Chinese law, we may have only limited rights to enforce the gas sales agreement between Shanxi Province Guoxin Energy Development Group Limited and China United Coalbed Methane Corporation (“CUCBM”), to which we are an express beneficiary; additional wells may not be drilled, or if drilled may not be timely; additional pipelines and gathering systems needed to transport our gas may not be constructed, or if constructed may not be timely, or their routes may differ from those anticipated; the pipeline and local distribution/compressed natural gas companies may decline to purchase or take our gas, or we may not be able to enforce our rights under definitive agreements with pipelines; conflicts with coal mining operations or coordination of our exploration and production activities with mining activities could adversely impact or add significant costs to our operations; our lack of operating history; limited and potentially inadequate management of our cash resources; risk and uncertainties associated with exploration, development and production of coalbed methane; our inability to extract or sell all or a substantial portion of our reserves and other resources; expropriation and other risks associated with foreign operations; disruptions in capital markets for reserve-based loans; matters affecting the energy industry generally; lack of availability of oil and gas field goods and services; environmental risks; drilling and production risks; changes in laws or regulations affecting our operations as well as other risks contained in Far East Energy Corporation’s filings with the Securities and Exchange Commission. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. The forward-looking statements speak only as of the date made and, other than as required by law, Far East Energy Corporation undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

View in PR Newswire Asia website: Far East Energy Names Jennifer D. Whitley Chief Financial Officer

Written by asiafreshnews

May 13, 2013 at 9:17 pm

Posted in All releases

Insider Trading for Tech Stocks: Microsoft, Bank of America, NVIDIA, Molycorp, Research In Motion, and Electronic Arts

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HONG KONG, May 13, 2013 /PRNewswire/ — Insiderslab.com has issued insider trading reports for good stocks: Microsoft (NASDAQ:MSFT), Bank of America (NYSE:BAC), NVIDIA (NASDAQ:NVDA), Molycorp (NYSE:MCP), Research In Motion (NASDAQ:BBRY), and Electronic Arts (NASDAQ:EA).

(Read full report by clicking the link below, you may need to copy and paste the full link to your browser.)

Report Highlights:

Microsoft Corporation (NASDAQ:MSFT): By the end of last trading session, the shares of Microsoft (NASDAQ:MSFT) rose US$0.03 (or 0.09%) to US$32.69 with 36.40 million shares exchanged hands, compared to daily average volume of 61.05 million. The trading prices ranged between US$32.32 and US$32.72. Insiderslab.com found company insiders sold his/her shares for about US$619.27 million in April. Investors may want to find out how Microsoft insiders like CEOs, CFOs and Directors are thinking about the future of the company. Check this insider trade report for MSFT here.

Read Full Report: http://www.insiderslab.com/PR3/051313A/MSFT/Microsoft.pdf

Bank of America Corp (NYSE:BAC): By the end of last trading session, Bank of America (NYSE:BAC) shares earned US$0.11 (or 0.85%) to US$13.02 with about 87.63 million shares exchanged hands for the session, compared to its average volume of 133.70 million shares. Insiderslab.com found company Director, Linda Hudson, sold her shares at a price of US$12.94 on May 10. Investors may want to find out how Bank of America insiders like CEOs, CFOs and Directors are thinking about the future of the company.

Read Full Report: http://www.insiderslab.com/PR3/051313A/BAC/BankofAmerica.pdf

NVIDIA Corporation (NASDAQ:NVDA): By the end of last trading session, NVIDIA (NASDAQ:NVDA) soared US$0.63 (or 4.53%) to US$14.54 with about 21.53 million shares exchanged hands for the session, compared to its average volume of 10.64 million shares. Insiderslab.com found company Principal Accounting Officer, Byron Michael, sold his shares at a price of US$12.48. Insiderslab.com believes that it is a clever way to check if insiders like CEOs, CFOs, and Directors in NVIDIA are starting to buy more company shares. See insider trade report for NVDA here.

Read Full Report: http://www.insiderslab.com/PR3/051313A/NVDA/NVIDIA.pdf

Today Insiderslab.com also observed abnormal trade volume for the following companies; insiders may involve trading in these companies. It will take some time for insiders to report their trades. Read these reports and add these companies into your Insider Trade Radar.

Molycorp, Inc. (NYSE:MCP):

Read Full Report: http://www.insiderslab.com/PR3/051313A/MCP/Molycorp.pdf

Research In Motion Ltd (NASDAQ:BBRY):

Read Full Report: http://www.insiderslab.com/PR3/051313A/BBRY/ResearchInMotion.pdf

Electronic Arts Inc. (NASDAQ:EA):

Read Full Report: http://www.insiderslab.com/PR3/051313A/EA/ElectronicArts.pdf

Insider Filing Source Reference: All observations, analysis and reports are based on public information released by the U.S. Securities and Exchange Commission.

About Insiderslab.com:

Insiderslab.com covers insider trade data in major stock markets in the U.S., Hong Kong, Mainland China, and Singapore. Insiderslab.com features a team of experienced data analysts striving to provide the investment community with the tools, software, and data necessary to carry out more effective investment research.

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View in PR Newswire Asia website: Insider Trading for Tech Stocks: Microsoft, Bank of America, NVIDIA, Molycorp, Research In Motion, and Electronic Arts

Written by asiafreshnews

May 13, 2013 at 9:17 pm

Posted in All releases