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Archive for May 15th, 2013

Dr. Rongxiang Xu, Owner of Patented Technology to Regenerate Damaged Organs, Announces Lawsuit Against 2012 Nobel Laureate Dr. Shinya Yamanaka

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– Organ Regeneration Noted As Top Priority in 2013 US Presidential State of the Union Address

LOS ANGELES, May 15, 2013 /PRNewswire/ — On May 8, 2013, Dr. Rongxiang Xu, the founder of “human body regenerative restoration science” and a renowned life and medical scientist who is believed to be the only person who has patented the technology for direct regeneration of damaged organs has filed a lawsuit against Dr. Shinya Yamanaka, one of the winners of the 2012 Nobel Prize in Physiology or Medicine in the Superior Court of California, County of San Francisco. The lawsuit filed alleges, among other things, deception by Dr. Shinya Yamanaka.

(Photo: http://photos.prnewswire.com/prnh/20130515/LA14340 )

According to Dr. Xu’s attorney, a previous lawsuit was filed by Dr. Xu against the Nobel Assembly on December 3, 2012, urging the Assembly to clarify certain statements made in conjunction with awarding the 2012 Nobel Prize in Physiology or Medicine. Unfortunately, no response clarifying the truth about the science has been received as the case is still pending. Therefore, Dr. Xu has filed another lawsuit directly against Dr. Yamanaka, for alleged deceptive practices employed by Dr. Yamanaka.

Dr. Xu’s attorney stated that Dr. Yamanaka’s published statements labeling his artificially transgenic cell study as “induction of somatic cells into stem cells”, which was the patented technology of Dr. Xu, has caused substantial damages to his reputation and company. Dr. Xu claims that Dr. Yamanaka has deceived a number of well-intentioned professionals into exploration and research on the life science forefront. However, Dr. Xu believes that Dr. Yamanaka has steered these professionals down the wrong path. For example, Dr. Xu believes that even the US government was misled into Dr. Yamanaka’s hype when the 2008 state of the union address mentioned favoring a way to reprogram adult skin cells to act like embryonic stem cells, as claimed by Dr. Yamanaka. Dr. Xu believes hundreds of millions in taxpayers’ money has been wasted in funding such false science.

The Nobel Assembly granted Dr. Yamanaka the Prize in Physiology or Medicine in 2012, acclaiming his artificially transgenic cells created human regenerative potential. Considering the foreseeable consequences threatening human lives, Dr. Xu is working to stop such deception through the legal process.

Dr. Yamanaka labeled his artificial cell produced by oncogene transferring as “somatic cell induction into pluripotent stem cells”, i.e. he claimed his artificially transgenic cell study in the name of the plaintiff’s patented technology and called it iPSC in short, which was quickly endorsed and followed by a group of prestigious scientists expecting to solve the ethic issue of embryonic stem cell study.

This term used by Dr. Yamanaka is the core of Dr. Xu’s patents, including US Patent 6991813 and Dr. Xu alleges that Dr. Yamanaka’s study actually has nothing to do with stem cell. Dr. Yamanaka admitted in his article published in Cell Stem Cell magazine in 2012 that he didn’t obtain natural pluripotent stem cells by somatic cell induction. According to Dr. Xu, it is critical to ask why such a ridiculous scientific scam has been prevailing worldwide for the past few years.

Human somatic cell induction into pluripotent stem cell is the core content of the Dr. Xu’s patented scientific route of “regeneration of damaged organs” and has been accomplished in clinical application. However, this technology that allows “regeneration of damaged organs” has been hindered from benefiting the general public due to the scientific scam by Dr. Yamanaka, depriving the chances of tens of thousands of patients for getting access to innovative science and technology for cures.

The scientific route of “developing drugs to regenerate damaged organs” has been labeled one of the nation’s main topics of focus, and was also discussed by president Obama in his 2013 State of the Union Address, where he stated “Now, if we want to make the best products, we also have to invest in the best ideas. Every dollar we invested to map the human genome returned $140 to our economy. Every dollar. Today, our scientists are mapping the human brain to unlock the answers to Alzheimer’s. We’re developing drugs to regenerate damaged organs, devising new materials to make batteries 10 times more powerful. Now is not the time to gut these job-creating investments in science and innovation. Now is the time to reach a level of research and development not seen since the height of the space race. We need to make those investments.”

Dr. Xu is thankful for the Obama administration’s acknowledgement of this vital area of organ regeneration, and feels that this direction is a blessing for Americans and people worldwide.

Please contact Jane Westgate 336-608-4439 or Cheryl Riley 703-683-1798. The Plaintiff is represented by the Ardent Law Group in California.

View in PR Newswire Asia website: Dr. Rongxiang Xu, Owner of Patented Technology to Regenerate Damaged Organs, Announces Lawsuit Against 2012 Nobel Laureate Dr. Shinya Yamanaka

Written by asiafreshnews

May 15, 2013 at 11:17 pm

Posted in All releases

Jollychic.com: A New Benchmark for the Industry

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HANGZHOU, China, May 15, 2013 /PRNewswire/ — As economic globalization and e-commerce in China takes shape, the once better-off traditional manufacturers are now facing an uphill climb, fighting for the receding market share by way of business transition. And making that change successfully involves launching overseas business operations online as the spread of information these days is considerably easier.

Meanwhile, that change has enabled customers the world over with easier access to the whole picture of their prospective purchases, which can be worrisome news to the business, and has naturally helped stimulate waves of price wars in China that have caused both manufacturers and dealers to hurry to bring down the price tags at any cost whatsoever. Yet it does not necessarily guarantee positive feedback from the market, for the price is one thing, but the quality or the recognition from prospective customers is quite another.

So where does that leave us now? What many fail to catch are the truly important things to their customers.

According to a survey by JWT, the reputable advertising agency, which involved samples from both the UK and the US (carried out from May 31, 2012 to June 4, 2012), the prevalent impression of “Made-in-China” is “mass produced”, among which, more than 60% correlate the tag “Made in China” with the badge “mass produced”; about 55% find Chinese products “cheap”; compared with 45% “unsafe”; 35% “junky”; 35% “unreliable” and another 33% “low-end”.

So again, price is one thing, while design, innovation and quality are quite another.

As we aspire to set a new benchmark for the industry and impress overseas customers with what we deliver, we hope that they can finally spend some time, with ease, on actually choosing their favorite commodities on Jollychic.com without pondering over the quality, as they know they are in safe hands.

The image of mass-production, ridiculously cheap yet unsound commodities and the distorted competition for that matter, has dire correlations. To be different, however, one would have to listen to one’s customers and provide the solutions; and this is exactly what Jollychic has been doing all along.

For more information about Jollychic.com, please visit http://www.jollychic.com/

Contact:
Tel: +86-158-5829-4241

View in PR Newswire Asia website: Jollychic.com: A New Benchmark for the Industry

Written by asiafreshnews

May 15, 2013 at 11:17 pm

Posted in All releases

American College of Chest Physicians (ACCP) and Simbionix Collaborate to Promote Clinician Education and Patient Safety

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CLEVELAND, May 15, 2013 /PRNewswire/ —

Simbionix, a world leader in medical simulation, and the American College of Chest Physicians (ACCP), the leader in advanced simulation education, will collaborate to promote bronchoscopy education. This partnership reinforces the goals of both organizations to improve patient safety and outcomes through advanced medical education.

(Logo: http://photos.prnewswire.com/prnh/20120502/529202-a)

This deeper commitment follows several years of Simbionix BRONCH Mentor™ use during ACCP’s professional and diversified educational delivery in its courses and workshops. In these activities, the simulator is integrated with the full immersion of the instruction used to teach and train basic-to-advanced bronchoscopic procedures.

The goal of this partnership is to develop curricula for bronchoscopy instruction and hands-on training. Additionally, the collective efforts are aligned to continue to enhance and grow through the use of the BRONCH Mentor simulators that will be located in the new ACCP Innovation and Simulation Center (to open in 2014). This will allow all participants to obtain the valuable hands-on training that the BRONCH Mentor offers in this state-of-the-art facility.

“We couldn’t be more pleased about this collaboration with ACCP. Simbionix has always worked with physicians and professional societies to provide the most advanced and current training tools available,” said Inbal Mazor, Vice President of Marketing for Simbionix. “We are excited to join ACCP in an agreement that aligns two advocates for bronchoscopy education and reinforces the BRONCH Mentor’s training value to reach and demonstrate competence prior to operating on real patients.”

“We are making great strides to expand our commitment to bronchoscopy education, and simulation education, in general, and this partnership with Simbionix brings us closer to our goal,” said Darcy Marciniuk, MD, FCCP, ACCP President.

More about the ACCP Innovation and Simulation Center: http://beyondourwalls.chestnet.org.

About Simbionix:

Simbionix is the world’s leading provider of medical simulation training and education solutions for the healthcare industry. http://www.simbionix.com Visit: Facebook and Twitter.

About the American College of Chest Physicians

ACCP is a global community of clinicians and allied health professionals working in pulmonary, critical care, and sleep medicine. The ACCP publishes the CHEST Journal and is recognized as a trusted provider of evidence-based clinical practice guidelines and as a resource for advanced training through conferences and innovative online courses. The ACCP represents more than 18,700 members from more than 100 countries.

Contact: Susan Vetrone, North American Director of Marketing, susanv@simbionix.com +1-216-2292040 #180

View in PR Newswire Asia website: American College of Chest Physicians (ACCP) and Simbionix Collaborate to Promote Clinician Education and Patient Safety

Written by asiafreshnews

May 15, 2013 at 10:18 pm

Posted in All releases

Travelzoo Lv You Zu Named Best Online Travel Portal by TravelWeekly China

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SHANGHAI, May 15, 2013 /PRNewswire/ — Travelzoo Asia Pacific, a licensee of Travelzoo Inc. (NASDAQ:TZOO), a global Internet media company, today announced that it is now the 2013 Best Online Travel Portal of the year in China. Travelzoo Lv You Zu (www.lvyouzu.com) received the Award at TravelWeekly China’s Travel & Meetings Industry Awards Presentation Ceremony, held in Shanghai on May 8, 2013.

“The Best Online Travel Portal of the Year Award win shows that our focused yet flexible approach to the China market is on the right track,” said Mr. Jason Yap, CEO of Travelzoo Asia Pacific. “Our recent accolades continue to show that our high quality offers resonate well with discerning travellers in China. In addition, our relationships with industry partners are growing even stronger. We are confident that with our strong brand credibility and sound reputation in the industry, we are poised to further capitalize on the world’s fastest growing travel market.”

The TravelWeekly China Travel & Meetings Industry Awards, which has awarded the best in China‘s travel industry since its 2002 debut, is well-known for its fairness, transparency and creativity. Selection involves a prestigious judging panel of industry professionals and a poll of TravelWeekly China’s readers.

About Travelzoo Asia Pacific

Travelzoo Asia Pacific is an independently owned licensee of Travelzoo Inc. (NASDAQ: TZOO), a global Internet media company and the most trusted publisher of travel and entertainment deals. With more than 26 million subscribers in Asia Pacific, North America and Europe, and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo Deal Experts review offers to find the best deals and confirm their true value.

Travelzoo Asia Pacific
Unit 3608, AIA Tower
183 Electric Road
North Point, Hong Kong

Media Contact:

Pauline Wong
Travelzoo, Asia Pacific
+852-3127-8010
pwong@travelzoo.com

View in PR Newswire Asia website: Travelzoo Lv You Zu Named Best Online Travel Portal by TravelWeekly China

Written by asiafreshnews

May 15, 2013 at 10:18 pm

Posted in All releases

Dr. Rongxiang Xu, Owner of Patented Technology to Regenerate Damaged Organs, Announces Lawsuit Against 2012 Nobel Laureate Dr. Shinya Yamanaka

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– Organ Regeneration Noted As Top Priority in 2013 US Presidential State of the Union Address

LOS ANGELES, May 15, 2013 /PRNewswire/ — On May 8, 2013, Dr. Rongxiang Xu, the founder of “human body regenerative restoration science” and a renowned life and medical scientist who is believed to be the only person who has patented the technology for direct regeneration of damaged organs has filed a lawsuit against Dr. Shinya Yamanaka, one of the winners of the 2012 Nobel Prize in Physiology or Medicine in the Superior Court of California, County of San Francisco. The lawsuit filed alleges, among other things, deception by Dr. Shinya Yamanaka.

(Photo: http://photos.prnewswire.com/prnh/20130515/LA14340)

According to Dr. Xu’s attorney, a previous lawsuit was filed by Dr. Xu against the Nobel Assembly on December 3, 2012, urging the Assembly to clarify certain statements made in conjunction with awarding the 2012 Nobel Prize in Physiology or Medicine. Unfortunately, no response clarifying the truth about the science has been received as the case is still pending. Therefore, Dr. Xu has filed another lawsuit directly against Dr. Yamanaka, for alleged deceptive practices employed by Dr. Yamanaka.

Dr. Xu’s attorney stated that Dr. Yamanaka’s published statements labeling his artificially transgenic cell study as “induction of somatic cells into stem cells”, which was the patented technology of Dr. Xu, has caused substantial damages to his reputation and company. Dr. Xu claims that Dr. Yamanaka has deceived a number of well-intentioned professionals into exploration and research on the life science forefront. However, Dr. Xu believes that Dr. Yamanaka has steered these professionals down the wrong path. For example, Dr. Xu believes that even the US government was misled into Dr. Yamanaka’s hype when the 2008 state of the union address mentioned favoring a way to reprogram adult skin cells to act like embryonic stem cells, as claimed by Dr. Yamanaka. Dr. Xu believes hundreds of millions in taxpayers’ money has been wasted in funding such false science.

The Nobel Assembly granted Dr. Yamanaka the Prize in Physiology or Medicine in 2012, acclaiming his artificially transgenic cells created human regenerative potential. Considering the foreseeable consequences threatening human lives, Dr. Xu is working to stop such deception through the legal process.

Dr. Yamanaka labeled his artificial cell produced by oncogene transferring as “somatic cell induction into pluripotent stem cells”, i.e. he claimed his artificially transgenic cell study in the name of the plaintiff’s patented technology and called it iPSC in short, which was quickly endorsed and followed by a group of prestigious scientists expecting to solve the ethic issue of embryonic stem cell study.

This term used by Dr. Yamanaka is the core of Dr. Xu’s patents, including US Patent 6991813 and Dr. Xu alleges that Dr. Yamanaka’s study actually has nothing to do with stem cell. Dr. Yamanaka admitted in his article published in Cell Stem Cell magazine in 2012 that he didn’t obtain natural pluripotent stem cells by somatic cell induction. According to Dr. Xu, it is critical to ask why such a ridiculous scientific scam has been prevailing worldwide for the past few years.

Human somatic cell induction into pluripotent stem cell is the core content of the Dr. Xu’s patented scientific route of “regeneration of damaged organs” and has been accomplished in clinical application. However, this technology that allows “regeneration of damaged organs” has been hindered from benefiting the general public due to the scientific scam by Dr. Yamanaka, depriving the chances of tens of thousands of patients for getting access to innovative science and technology for cures.

The scientific route of “developing drugs to regenerate damaged organs” has been labeled one of the nation’s main topics of focus, and was also discussed by president Obama in his 2013 State of the Union Address, where he stated “Now, if we want to make the best products, we also have to invest in the best ideas. Every dollar we invested to map the human genome returned $140 to our economy. Every dollar. Today, our scientists are mapping the human brain to unlock the answers to Alzheimer’s. We’re developing drugs to regenerate damaged organs, devising new materials to make batteries 10 times more powerful. Now is not the time to gut these job-creating investments in science and innovation. Now is the time to reach a level of research and development not seen since the height of the space race. We need to make those investments.”

Dr. Xu is thankful for the Obama administration’s acknowledgement of this vital area of organ regeneration, and feels that this direction is a blessing for Americans and people worldwide.

Please contact Jane Westgate 336.608.4439 or Cheryl Riley 703.683.1798. The Plaintiff is represented by the Ardent Law Group in California.

View in PR Newswire Asia website: Dr. Rongxiang Xu, Owner of Patented Technology to Regenerate Damaged Organs, Announces Lawsuit Against 2012 Nobel Laureate Dr. Shinya Yamanaka

Written by asiafreshnews

May 15, 2013 at 10:18 pm

Posted in All releases

China Natural Gas Announces First Quarter 2013 Financial Results

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XI’AN, China, May 15, 2013 /PRNewswire/ — China Natural Gas, Inc. (“China Natural Gas” or the “Company”) (PINK: CHNG), a leading provider of compressed natural gas (CNG) and LNG for vehicular fuel and pipeline natural gas for industrial, commercial and residential use in Xi’an, China, today announced its financial results for the first quarter ended March 31, 2013.

First Quarter 2013 Results

Revenue in the first quarter of 2013 increased by 10.0% to $35.5 million from $32.3 million in the first quarter of 2012, driven by increased capacity of our LNG plant. Sales revenue of natural gas grew by 9.5% year-over-year to $32.2 million, from $29.4 million in the first quarter of 2012. Gasoline revenue in the first quarter of 2013 decreased by 42.5% to $0.5 million, from $0.8 million in the same period of the prior year, mainly because the closure of one gasoline fueling stations during the fourth quarter of 2012. Installation and automobile conversion services revenue increased by 38.6% year-over-year to $2.8 million, from $2.1 million a year ago. In the first quarter of 2013, sales of natural gas, gasoline, and installation and automobile conversion services contributed 90.7%, 1.3%, and 8.0% of total revenue, respectively.

Gross profit in the first quarter of 2013 increased 13.8% to $12.9 million from $11.4 million in the same period of the prior year. Gross margin in the first quarter of 2013 was 36.4%, compared to 35.2% a year ago. Gross margin increased primarily due to the increase in gross margin for our LNG business.

Operating income in the first quarter of 2013 was $5.8 million, an increase of 57.9% year-over-year from $3.7 million, primarily attributable to the increase in gross profit of LNG and decrease in general and administrative expenses.

Income tax expense was $0.9 million at an effective tax rate of 15.9%, as compared to $0.8 million at an effective tax rate of 28.9% in the first quarter of 2012. The decrease of effective income tax rate was primarily attributable to the reduced income tax rate of 15% enjoyed by JBLNG beginning on January 1, 2013.

Net income in the first quarter of 2013 increased by 139.6% to $4.7million or $0.22 per diluted share from $1.9 million or $0.10 per diluted share in the first quarter of 2012.

As of March 31, 2013, the Company had $10.7 million of cash and cash equivalents on hand, compared to $10.9 million of cash and cash equivalents as of December 31, 2012. The decrease was primarily attributable to the construction of the LNG plant and other projects, and the repayment of the loans from Shanghai Pudong Development Bank.

Net cash provided by operating activities was $5.0 million for the first quarter of 2013, as compared to net cash provided by operations of $7.4 million for the first quarter of 2012. The decrease was primarily due to the increase in advances to suppliers, accounts receivable and other receivable, and adjustments for non-cash expense items.

About China Natural Gas, Inc.

China Natural Gas (http://www.naturalgaschina.com ) transports and sells natural gas to vehicular fueling terminals, as well as commercial, industrial and residential customers through its distribution networks in China‘s Shaanxi, Henan and Hubei Provinces. The Company owns approximately 120 km of high-pressure pipelines and operates 20 CNG fueling stations in Shaanxi Province, 10 CNG fuelling stations in Henan Province and 1 CNG fueling station in Hubei Province and one LNG factory in Jingbian, Shaanxi province. China Natural Gas’ five primary business lines include: (1) distribution and sales of CNG through Company-owned CNG fueling stations serving hybrid (natural gas/gasoline) powered vehicles; (2) installation, distribution and sales of piped natural gas to residential and commercial customers through Company-owned pipelines; (3) production and sales of LNG through our LNG production facility in Jingbian County, Shaanxi Province; (4) distribution and sales of gasoline through Company-owned CNG fueling stations for hybrid (natural gas/gasoline) powered vehicles; and (5) conversion of gasoline-fueled vehicles to hybrid (natural gas/gasoline) powered vehicles at its automobile conversion workshops.

SAFE HARBOR: FORWARD-LOOKING STATEMENTS

This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. For example, statements about the future plans and goals of the JV with CNPC and its prospects are forward looking and subject to risks. China Natural Gas, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on forms 10-K, 10-Q and 8-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to fourth parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, risks outlined in the Company’s filings with the U.S. Securities and Exchange Commission, including its registration statements on Forms S-1 and S-3, in each case as amended. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

This release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the company and management, as well as financial statements.

CHINA NATURAL GAS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

AS OF MARCH 31, 2013 AND DECEMBER 31, 2012

(Stated in US Dollars)

March 31, 2013

December 31, 2012

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

10,700,924

$

10,857,456

Accounts receivable, net

3,289,300

2,148,379

Other receivables, net

969,170

458,605

Employee advances

325,505

399,031

Inventories

3,041,500

2,473,933

Advances to suppliers

8,449,792

4,869,606

Prepaid expense and other current assets

2,724,481

3,541,431

Total current assets

29,500,672

24,748,441

Investment in unconsolidated joint ventures

1,587,000

Property and equipment, net

177,582,135

179,515,563

Construction in progress

57,149,739

53,393,933

Goodwill

844,569

839,806

Other intangible assets

21,094,232

21,400,924

Prepaid expenses and other assets

7,367,886

7,015,142

TOTAL ASSETS

$

293,539,233

$

288,500,809

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Senior notes- current maturities

$

38,569,998

$

38,352,498

Current portion of bank loan payable

4,788,000

4,761,000

Redeemable liabilities – warrants

17,500,000

17,500,000

Accounts payable and accrued liabilities

6,752,805

6,756,278

Other payable – related party

827,596

1,616,429

Short-term borrowing – related party

2,679,945

2,679,945

Unearned revenue

4,590,622

3,663,570

Accrued interest

2,392,773

1,936,584

Taxes payable

1,887,751

2,232,546

Total current liabilities

79,989,490

79,498,850

LONG-TERM LIABILITIES:

Bank loan payable, net of current portion

3,192,000

4,761,000

Total long-term liabilities

3,192,000

4,761,000

Total liabilities

$

83,181,490

$

84,259,850

STOCKHOLDERS’ EQUITY:

Preferred stock, par value $0.0001 per share, 5,000,000 authorized, none issued and outstanding

$

$

Common stock, par value $0.0001 per share, 45,000,000 authorized, 21,458,654 issued and outstanding at March 31, 2013 and December 31, 2012, respectively

2,145

2,145

Additional paid-in capital

83,649,675

83,501,637

Accumulated other comprehensive income

22,579,356

21,276,931

Statutory reserves

12,368,349

11,818,087

Retained earnings

91,499,821

87,410,615

Noncontrolling interests

258,397

231,544

Total stockholders’ equity

210,357,743

204,240,959

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY

$

293,539,233

$

288,500,809

CHINA NATURAL GAS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

FOR THE THREE MONTHS PERI ODS ENDED MARCH 31, 2013 AND 2012

(Stated in US Dollars)

Three Months Ended March 31,

2013

2012

Revenue

Natural gas

$

32,180,068

$

29,399,687

Gasoline

474,999

825,895

Installation and other

2,844,263

2,051,736

35,499,330

32,277,318

Cost of revenue

Natural gas

20,953,430

19,274,859

Gasoline

420,661

788,144

Installation and other

1,196,648

852,245

22,570,739

20,915,248

Gross profit

12,928,591

11,362,070

Operating expenses

Selling

5,553,854

4,950,800

General and administrative

1,531,990

2,711,646

7,085,844

7,662,446

Income from operations

5,842,747

3,699,624

Non-operating income (expense):

Interest income

9,723

10,746

Interest expense

(189,379)

(432,037)

Loss on disposal of fixed assets

(57,045)

Loss on sales of long term investment

(79,650)

Other income (expense), net

26,199

(33,093)

Change in fair value of warrants

(83)

Foreign currency exchange loss

(813)

(505,940)

(290,965)

(960,407)

Income before income tax

5,551,782

2,739,217

Provision for income tax

885,461

791,471

Net income

4,666,321

1,947,746

Less: Income/(loss) attributable to noncontrolling interests

26,853

(228,059)

Net income attributable to China Natural Gas, Inc.

4,639,468

2,175,805

Other comprehensive income

Foreign currency translation gain

1,302,425

1,758,800

Comprehensive income

$

5,941,893

$

3,934,605

Weighted average shares outstanding

Basic

21,458,654

21,458,654

Diluted

21,458,654

21,458,654

Earnings per share

Basic

$

0.22

$

0.10

Diluted

$

0.22

$

0.10

CHINA NATURAL GAS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2013 AND 2012

(Stated in US Dollars)

For the Three Months Ended March 31,

2013

2012

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

4,666,321

1,947,746

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

3,453,703

3,411,668

Provision for (recovery of) doubtful accounts

66,400

284,740

Loss (Gain) on disposal of equipment

57,045

Loss (Gain) on sales of long term investment

79,650

Stock-based compensation

148,038

148,038

Change in fair value of warrants

83

Change in assets and liabilities:

Accounts receivable

(1,193,016)

1,272,022

Other receivables

(931,273)

(1,196,797)

Employee advances

75,568

(88,962)

Inventories

(552,497)

124,084

Advances to suppliers

(3,545,892)

(2,961,113)

Prepaid expense and other current assets

874,291

3,195,216

Accounts payable and accrued liabilities

763,439

997,587

Unearned revenue

904,572

1,359,757

Accrued interest

456,189

(484,705)

Taxes payable

(356,785)

(588,625)

Net cash provided by operating activities

4,965,753

7,420,739

CASH FLOWS FROM INVESTING ACTIVITIES:

Payment for acquisition of property and equipment

(76,831)

(3,192,954)

Proceeds from sales of property and equipment

7,133

Proceeds from sales of long term investment

716,850

Additions to construction in progress

(3,353,310)

(4,744,279)

Prepayment on long-term assets

(89,747)

4,962,691

Payment for acquisition of business

(657,421)

Payment for intangible assets

(1,506,029)

Net cash used in investing activities

(2,795,905)

(5,137,992)

CASH FLOWS FROM FINANCING ACTIVITIES:

Repayment of short-term borrowing and other payable, related parties

(796,500)

Repayment of long -term debt

(1,593,000)

(794,000)

Repayment of senior notes

(3,333,334)

Increase in restricted cash

(794,000)

Net cash (used in) provided by financing activities

(2,389,500)

(4,921,334)

Effect of exchange rate changes on cash and cash equivalents

63,120

23,216

NET (DECREASE) INCREASEIN CASH & CASH EQUIVALENTS

(156,532)

(2,615,371)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

10,857,456

9,622,883

CASH AND CASH EQUIVALENTS, END OF PERIOD

$

10,700,924

$

7,007,512

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Interest paid, net of capitalized interest

$

149,857

$

1,194,334

Income taxes paid

$

1,076,702

$

1,143,667

Non-cash transactions for investing and financing activities:

Construction material transferred to construction in progress

$

$

67,185

Construction in progress transferred to property and equipment

$

526

$

15,506,551

Other assets transferred to construction in progress

93,729

671,615

Capitalized interest – amortization of discount of notes payable and issuance costs

$

$

1,016,672

For more information, please contact:

China Natural Gas, Inc.
Zhaoyang Qiao, CFO
Phone: +86-29-8832-7391
Email: qiaochaoyang@naturalgaschina.com

Jackie Shi
Investor Relations Director
Phone: +86-29-8832-3325 x922
Cell: +86-139-9287-9998
Email: yjshi@naturalgaschina.com

View in PR Newswire Asia website: China Natural Gas Announces First Quarter 2013 Financial Results

Written by asiafreshnews

May 15, 2013 at 10:18 pm

Posted in All releases

Cleantech Solutions International Reports First Quarter 2013 Results

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WUXI, Jiangsu Province, China, May 15, 2013 /PRNewswire-FirstCall/ — Cleantech Solutions International, Inc. (“Cleantech Solutions” or “the Company”) (NASDAQ: CLNT), a manufacturer of metal components and assemblies, primarily used in the wind power, solar, dyeing and finishing equipment and other clean technology industries, today announced its financial results for the three months ended March 31, 2013.

“We got off to a strong start in 2013, achieving significant growth in revenue and profitability. Our dyeing machine segment saw revenue increase by more than 90% as a result of increased sales of our new equipment designed to meet the current environmental standards. We believe this increase reflects the response of textile manufacturers to seek to meet the policies of local PRC governments to phase out obsolete equipment and reduce pollution from the dyeing process,” said Mr. Jianhua Wu, Chairman and CEO of Cleantech Solutions. “In addition, sales of forged products to customers in the wind power industry saw strong sales growth. We will continue our efforts to expand our portfolio of precision products to meet demand in new and existing end markets with favorable prospects for growth.”

First Quarter 2013 Results

Revenue for the first quarter of 2013 increased 47.6% to $13.9 million, compared to $9.4 million for the same period of 2012.

Revenue from the sale of forged rolled rings to the wind power industry and other industries increased 16.9% to $6.5 million, compared to $5.6 million in the same period last year. The increase in revenue was mainly due to improving demand from existing customers in the wind power industry following several quarters of reduced order flow, which was partially offset by lower market demand for capital equipment related to the Company’s forged rolled rings and related products for other industries.

The increase in revenue is summarized as follows:

  • Revenue from the sale of forged rolled rings for the wind power industry increased by 45.7% to $3.7 million, compared to $2.5 million for the comparable period last year.
  • Revenue from the sale of forged rolled rings to other industries decreased 7.1% to $2.8 million, compared with $3.0 million for the comparable period of the prior year.
  • Revenue from dyeing and finishing equipment segment increased 92.4% to $7.4 million, compared to $3.8 million for the first quarter of 2012.

Gross profit for the first quarter of 2013 increased 66.3% to $3.1 million, compared to $1.9 million for the same period in 2012. Gross margin increased to 22.5% during the first quarter of 2013 compared to 20.0% for the same period a year ago. The increase in gross margin for the first quarter was primarily attributable to (i) the increased operational and cost efficiencies for forged rolled rings and related products segment, including the allocation of fixed costs primarily consisting of depreciation, to cost of revenues as the Company operated at higher production levels in response to higher revenues, and (ii) the significant portion of revenue for the dyeing and finishing equipment segment generated from the sale of airflow dyeing machinery, which generates a higher gross margin than the Company’s traditional dyeing machinery. The principal source of dyeing revenue in the first quarter of 2012 was traditional dyeing machinery.

Operating expenses decreased 18.8% to $0.8 million, compared to $1.0 million in the comparable period last year. The decrease was primarily due to lower depreciation expenses resulting from the classification of certain equipment as held for sale in the fourth quarter of 2012, on which depreciation was taken in the first quarter of 2012 but not in the first quarter of 2013.

Selling, general and administrative expenses for the three months ended March 31, 2013 rose 10.8% to $0.7 million, primarily due to higher travel, entertainment and shipping costs associated with the increase in sales and an increase in stock based compensation cost.

Operating income increased 171.4% to $2.3 million, compared to $0.8 million for the same period of 2012. Operating margin was 16.5% compared to 8.9% in the first quarter last year.

Other expense was $75,716, compared to $308,741 in the same period in 2012. The decrease was primarily attributable to the decrease in warrant modification expense of approximately $235,000 which was incurred in the 2012 quarter. The Company did not incur a comparable expense in the 2013 quarter.

Adjusted EBITDA, a non-GAAP measurement, which adds back to net income interest expense, income tax, warrant modification expense, depreciation and amortization, was up 60.9% to $3.9 million, compared to $2.4 million in the same quarter last year. The calculation of adjusted EBITDA is shown in a table following the financial tables.

Net income for the first quarter of 2013 was $1.6 million, or $0.56 per diluted share, compared to $0.3 million, or $0.12 per diluted share, in the first quarter of 2012. Diluted earnings per share were calculated using diluted weighted average shares of 2,894,586 and 2,523,936 for the three months ended March 31, 2013 and 2012, respectively. All share and per share information has been adjusted to reflect a one-for-ten reverse stock split effective March 6, 2012.

Financial Condition

As of March 31, 2013, Cleantech Solutions held cash and cash equivalents of $1.2 million compared with $1.4 million at December 31, 2012. Accounts receivable were $9.5 million and total current assets of $20.9 million. The Company had $3.0 million in short-term bank loans payable, up from $2.2 million at December 31, 2012. Stockholders’ equity was $80.0 million at March 31, 2013.

In the first quarter of 2013, the Company generated $1.7 million in cash flow from operations. The increase in short term loans, combined with cash flow from operations, was used to purchase approximately $2.7 million of equipment to expand capacity of airflow dyeing machines.

In May 2013, the Company repaid short-term bank loans in the amount of $0.8 million and reborrowed the same amount from Bank of Communications at an interest rate of 6.72%.

Business Outlook

“In 2013, we expect our dyeing machine segment to continue to perform well. We have a number of new contracts in the pipeline and have purchased new equipment to expand capacity to meet this demand. While near-term challenges remain in both the wind and solar markets, the long-term outlooks are positive.

“In the meantime, we will continue to seek to diversify our revenue base and modify our product lines to respond to the needs of other heavy equipment industries and clean technology industries. We are working with our customers to fine tune prototypes of new after-treatment textile equipment and are working to become a licensed, or qualified, supplier of components to China‘s oil and gas industry,” Mr. Wu said. “We are optimistic about our prospects for 2013, and will continue to utilize our expertise in manufacturing precision products to generate profitable growth.”

Conference Call

Cleantech Solutions will conduct a conference call at 9:00 a.m. Eastern Time on Thursday, May 16, 2013 to discuss financial results for the first quarter ended March 31, 2013.

To participate in the live conference call, please dial the following number five to ten minutes prior to the scheduled conference call time: (866) 759-2078. International callers should dial (706) 643-0585. When prompted, please enter conference passcode: 71671996.

If you are unable to participate in the conference call at this time, a replay will be available for 14 days starting on May 16, 2013 at 12:00 pm ET. To access the replay, dial (855) 859-2056. International callers dial (404) 537-3406, and enter passcode: 71671996.

Use of Non-GAAP Financial Measures

The Company has included in this press release certain non-GAAP financial measures. The Company believes that both management and investors benefit from referring to these non-GAAP financial measures in assessing the performance of the Company and when planning and forecasting future periods. Readers are cautioned not to view non-GAAP financial measures on a stand-alone basis or as a substitute for GAAP measures, or as being comparable to results reported or forecasted by other companies, and should refer to the reconciliation of GAAP measures with non-GAAP measures also included herein.

About Cleantech Solutions International

Cleantech Solutions is a manufacturer of metal components and assemblies, primarily used in clean technology and manufacturing industries. The Company supplies forging products, fabricated products and machining services to a range of clean technology customers, primarily in the wind power sector and supplies dyeing and finishing equipment to the textile industry. Cleantech Solutions is committed to achieving long-term growth through ongoing technological improvement, capacity expansion, and the development of a strong customer base. The Company’s website is www.cleantechsolutionsinternational.com. Any information on the Company’s website or any other website is not a part of this press release.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary and affiliated companies. These forward looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein and in the conference call referred to in this press release as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website, including factors described in “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-K for the year ended December 31, 2012 and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Q for the quarter ended March 31, 2013. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

Company Contact:

Mr. Adam Wasserman

Elaine Ketchmere, CFA

Chief Financial Officer

CCG Investor Relations

Cleantech Solutions International, Inc.

Tel: +1 310 954-1345

Email: adamw@cleantechsolutionsinternational.com

Email: Elaine.Ketchmere@ccgir.com

Web: www.cleantechsolutionsinternational.com

Web: www.ccgirasia.com

– Financial Tables Follow –

CLEANTECH SOLUTIONS INTERNATIONAL, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE

INCOME

For the Three Months Ended

March 31,

2013

2012

REVENUES

$

13,884,699

$

9,409,229

COST OF REVENUES

10,754,609

7,526,543

GROSS PROFIT

3,130,090

1,882,686

OPERATING EXPENSES:

Depreciation

107,214

374,612

Selling, general and administrative

738,000

666,123

Total Operating Expenses

845,214

1,040,735

INCOME FROM OPERATIONS

2,284,876

841,951

OTHER INCOME (EXPENSE):

Interest income

481

5,504

Interest expense

(105,127)

(90,033)

Foreign currency gain

4,276

Warrant modification expense

(235,133)

Other income

28,930

6,645

Total Other Income (Expense), net

(75,716)

(308,741)

INCOME BEFORE INCOME TAXES

2,209,160

533,210

INCOME TAXES

586,560

230,415

NET INCOME

$

1,622,600

$

302,795

COMPREHENSIVE INCOME:

NET INCOME

$

1,622,600

$

302,795

OTHER COMPREHENSIVE INCOME:

Unrealized foreign currency translation gain

428,440

451,702

COMPREHENSIVE INCOME

$

2,051,040

$

754,497

NET INCOME PER COMMON SHARE:

Basic

$

0.56

$

0.14

Diluted

$

0.56

$

0.12

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:

Basic

2,894,586

2,167,523

Diluted

2,894,586

2,523,936

CLEANTECH SOLUTIONS INTERNATIONAL, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

March 31,

December 31,

2013

2012

(Unaudited)

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

1,151,418

$

1,445,728

Restricted cash

955,171

Notes receivable

221,843

88,029

Accounts receivable, net of allowance for doubtful accounts

9,470,017

10,078,623

Inventories, net of reserve for obsolete inventory

6,653,981

5,897,555

Advances to suppliers

1,341,777

593,104

Prepaid VAT on purchases

646,322

542,032

Prepaid expenses and other

417,300

428,326

Total Current Assets

20,857,829

19,073,397

PROPERTY AND EQUIPMENT – net

60,923,316

59,436,100

OTHER ASSETS:

Deferred tax assets

554,921

551,890

Equipment held for sale

7,157,652

7,118,555

Land use rights, net

3,753,446

3,756,342

Total Assets

$

93,247,164

$

89,936,284

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Short-term bank loans

$

3,024,707

$

2,216,558

Bank acceptance notes payable

955,171

Accounts payable

5,300,010

5,474,479

Accrued expenses

478,956

986,824

Capital lease obligation – current portion

255,125

251,413

Advances from customers

2,412,457

1,851,987

VAT and service taxes payable

96,560

206,527

Income taxes payable

633,748

822,082

Total Current Liabilities

13,156,734

11,809,870

OTHER LIABILITIES:

Capital lease obligation – net of current portion

45,732

132,756

Total Liabilities

13,202,466

11,942,626

STOCKHOLDERS’ EQUITY:

Preferred stock ($0.001 par value; 10,000,000 shares authorized; 0 share
issued and
outstanding at March 31, 2013 and December 31, 2012)

Common stock ($0.001 par value; 50,000,000 shares authorized; 2,894,586
shares
issued and outstanding at March 31, 2013 and December 31, 2012)

2,894

2,894

Additional paid-in capital

28,987,128

28,987,128

Retained earnings

39,950,365

38,401,734

Statutory reserve

2,553,707

2,479,738

Accumulated other comprehensive gain – foreign currency translation adjustment

8,550,604

8,122,164

Total Stockholders’ Equity

80,044,698

77,993,658

Total Liabilities and Stockholders’ Equity

$

93,247,164

$

89,936,284

CLEANTECH SOLUTIONS INTERNATIONAL, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months
Ended

March 31,

2013

2012

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$

1,622,600

$

302,795

Adjustments to reconcile net income from operations to net cash

provided by operating activities:

Depreciation

1,569,551

1,547,345

Amortization of land use rights

23,511

23,383

Decrease in allowance for doubtful accounts

(46,670)

Warrant modification expense

235,133

Stock-based compensation expense

28,190

Changes in operating assets and liabilities:

Notes receivable

(133,241)

(102,846)

Accounts receivable

663,513

685,966

Inventories

(723,549)

(1,240,453)

Prepaid value-added taxes on purchases

(101,245)

355,356

Prepaid and other current assets

11,776

(26,863)

Advances to suppliers

(744,915)

(495,856)

Accounts payable

(204,399)

(640,500)

Accrued expenses

(532,717)

(231,302)

VAT and service taxes payable

(111,027)

Income taxes payable

(192,720)

(317,478)

Advances from customers

549,929

49,622

NET CASH PROVIDED BY OPERATING ACTIVITIES

1,697,067

125,822

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of property and equipment

(2,708,871)

(557,365)

NET CASH USED IN INVESTING ACTIVITIES

(2,708,871)

(557,365)

CASH FLOWS FROM FINANCING ACTIVITIES:

Principal payments on capital lease

(85,364)

(83,881)

Proceeds from bank loans

1,749,971

949,349

Repayments of bank loans

(954,529)

(632,899)

(Increase) decrease in restricted cash

(954,529)

31,645

Increase (decrease) in bank acceptance notes payable

954,529

(79,337)

NET CASH PROVIDED BY FINANCING ACTIVITIES

710,078

184,877

EFFECT OF EXCHANGE RATE ON CASH AND CASH EQUIVALENTS

7,416

5,135

NET DECREASE IN CASH AND CASH EQUIVALENTS

(294,310)

(241,531)

CASH AND CASH EQUIVALENTS – beginning of period

1,445,728

1,152,607

CASH AND CASH EQUIVALENTS – end of period

$

1,151,418

$

911,076

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid for:

Interest

$

105,127

$

90,033

Income taxes

$

779,280

$

547,893

NON-CASH INVESTING AND FINANCING ACTIVITIES:

Property and equipment acquired on credit as payable

$

20,681

$

Series A preferred converted to common shares

$

$

4,582

Common stock issued for future service

$

$

82,320

CLEANTECH SOLUTIONS INTERNATIONAL, INC. AND SUBSIDIARIES

RECONCILIATION OF NET INCOME TO ADJUSTED EBITDA

(AMOUNTS EXPRESSED IN US$)

For the Three Months Ended
March 31,

2013

2012

Net income

$

1,622,600

$

302,795

Add: income tax

586,560

230,415

Add: interest expense

105,127

90,033

Add: warrant modification expense

235,133

Add: depreciation and amortization

1,593,062

1,570,728

Adjusted EBITDA

$

3,907,349

$

2,429,104

View in PR Newswire Asia website: Cleantech Solutions International Reports First Quarter 2013 Results

Written by asiafreshnews

May 15, 2013 at 10:17 pm

Posted in All releases

4Videosoft iPhone Transfer – An Easy Way to Transfer Current iPhone Files to a New iOS Device

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BEIJING, May 15, 2013 /PRNewswire/ — With a new iPad/iPhone/iPod coming out pretty much annually, it is very likely many users want to upgrade their devices to the newest versions. To help users have a proper and easy way to transfer and backup the contents from old to new devices, 4Videosoft provides a series of iPad/iPhone/iPod transfer programs with powerful and versatile features.

Let’s take 4Videosoft iPhone Transfer as the example. This is a neat and easy-to-use iPhone file transferring software. All one’s saved videos, audio, images and ringtones can be transferred to the new device without any limitations by connecting the old and new devices to a computer simultaneously. Backup of iPhone/iPad/iPod files to computer/iTunes and transfer from computer to device are also feasible. The software highly supports all iPad/iPhone/iPod devices, including the iPhone 5, iPad 4 and more, and it works well on the latest iOS and iTunes.

This is actually a very simple and straightforward way to transfer movies, music, pictures and ringtones between Apple devices. However, for transferring more files like SMS/MMS, Contacts, eBooks, pictures, TV shows, voice memos, podcasts, etc., 4Videosoft iPhone Transfer Platinum is the best choice. This program will transfer all one’s iPhone files to other Apple devices as well as backup files to a computer and iTunes. The platinum version of iPhone Transfer supports ID3 editing and database repairing functions.

Moreover, users can add DVD, video and audio files to this iPhone Transfer program to convert them directly to the connected device and iTunes. Also, it is available to convert DVD/video/audio to “My Cache” temporarily and then transfer to iPad/iPhone/iPod later. Creating customized M4R ringtones from DVD/video/audio can also been done with this marvelous iPhone transferring software.

In summary, to complete the transfer from an old iPad/iPhone/iPod to a new device, 4Videosoft iPhone/iPad/iPod transfer programs are the best choice for their easy-to-navigate process and super-fast file transferring speed as well as their marvelous and diverse additional features.

For more detailed info and functions of the professional iPhone file transfer, please visit: http://www.4videosoft.com/iphone-transfer.html

System Requirements

OS Supported: Windows XP (SP2 or later), Windows Vista, Windows 7, Windows 8
Hardware Requirements: 800MHz Intel or AMD CPU, or above; 512MB RAM or more

About 4Videosoft Studio

4Videosoft Studio is a professional multimedia software provider, which aims to constantly produce excellent multimedia desktop applications for all Windows and Mac users, so as to give 4Videosoft users an unparalleled digital life. With advanced technologies, dedicated R&D team and progressive spirit, it can always bring multimedia users various surprises and excellent audiovisual experiences. For more information, please visit: http://www.4videosoft.com.

View in PR Newswire Asia website: 4Videosoft iPhone Transfer – An Easy Way to Transfer Current iPhone Files to a New iOS Device

Written by asiafreshnews

May 15, 2013 at 10:17 pm

Posted in All releases

Reveal Insider Trading for Tesla Motors, Intel, Apple, Nokia, Walt Disney, and MGIC Investment

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HONG KONG, May 15, 2013 /PRNewswire/ — Insiderslab.com has issued insider trading reports for the following companies: Tesla Motors (NASDAQ:TSLA), Intel (NASDAQ:INTC), Apple (NASDAQ:AAPL), Nokia (NYSE:NOK), Walt Disney (NYSE:DIS), and MGIC Investment (NYSE:MTG).

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

Report Highlights:

Tesla Motors Inc (NASDAQ:TSLA): By the end of last trading session, the shares of Tesla Motors (NASDAQ:TSLA) dropped US$4.56 (or 5.19%) to US$83.24 with 37.16 million shares exchanged hands, compared to daily average volume of 5.80 million. The trading price ranged between US$81.15 and US$97.12. During the last trading session, the share reached a new 52-week high of US$97.12. Investors may want to find out how Tesla Motors insiders like CEOs, CFOs and Directors are thinking about the future of the company. Check this insider trade report for TSLA here.

Read Full Report: http://www.insiderslab.com/PR3/051513A/TSLA/TeslaMotors.pdf

Intel Corporation (NASDAQ:INTC): By the end of last trading session, Intel (NASDAQ:INTC) shares lost US$0.24 (or 1.00%) to US$23.84 with about 36.70 million shares exchanged hands for the session, compared to its average volume of 49.90 million shares. Insiderslab.com found company Exec VP, GM Sales & Mktg Grp, Thomas M. Kilroy, sold his shares at a price of US$24.49 for about US$1.40 million on May 9, which was part of about US$3.19 million selling in the past three months. The company’s CFO, Stacy J. Smith, sold his share for about US$2.16 million on May 3. Investors may want to find out how Intel insiders like CEOs, CFOs and Directors are thinking about the future of the company.

Read Full Report: http://www.insiderslab.com/PR3/051513A/INTC/Intel.pdf

Apple Inc. (NASDAQ:AAPL): By the end of last trading session, Apple (NASDAQ:AAPL) was down US$10.88 (or 2.39%) to US$443.86 with about 15.97 million shares exchanged hands for the session, compared to its average volume of 17.11 million shares. Insiderslab.com found company insiders sold his/her shares for about US$58.95 million in the past year, prior the downtrend since last September. Insiderslab.com believes that it is a clever way to check if insiders like CEOs, CFOs, and Directors in Apple are starting to buy more company shares. See insider trade report for AAPL here.

Read Full Report: http://www.insiderslab.com/PR3/051513A/AAPL/Apple.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.

Nokia Corporation (ADR) (NYSE:NOK):

Read Full Report: http://www.insiderslab.com/PR3/051513A/NOK/Nokia.pdf

The Walt Disney Company (NYSE:DIS):

Read Full Report: http://www.insiderslab.com/PR3/051513A/DIS/WaltDisney.pdf

MGIC Investment Corp. (NYSE:MTG):

Read Full Report: http://www.insiderslab.com/PR3/051513A/MTG/MGICInvestment.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.

Important Disclaimer:
Please visit insiderslab.com/disclaimers/disclaimers.php for details.

View in PR Newswire Asia website: Reveal Insider Trading for Tesla Motors, Intel, Apple, Nokia, Walt Disney, and MGIC Investment

Written by asiafreshnews

May 15, 2013 at 10:17 pm

Posted in All releases

Association of MBAs Announces Andrew Main Wilson to Join as Chief Executive

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WARSAW, Poland, May 15, 2013 /PRNewswire/ —

Global postgraduate business education accreditation and membership organisation appoints new leader to guide next phase of growth

On the first day of its annual International Conference for Deans and Directors, the Association of MBAs (AMBA) announced the appointment of Andrew Main Wilson as its new Chief Executive. Main Wilson, former Chief Operating Officer of the Institute of Directors, will join the international postgraduate business education accreditation and membership organisation on 5 August, 2013.

Main Wilson joins AMBA at a time of growth for the organisation. Its strategy focuses on the quality and expansion of international accreditation for MBA, DBA and MBM programmes and membership services to enhance continual professional development, career resources, networking and connecting MBAs with the business world.

“AMBA’s Board of Trustees is delighted to appoint Andrew Main Wilson as Chief Executive. He has a wealth of experience in membership, management education and employer engagement, which are the three strategic priorities key to AMBA’s international growth. We are confident he is the right person to lead us through our next phase of development,” said Chris Russell, Chairman of AMBA’s Board of Trustees.

Introducing the new Chief Executive to Deans and Directors from the world’s leading business schools gathered at its three day conference to discuss the future of management education, AMBA’s Chairman added: “AMBA’s current strategy has seen membership grow by five per cent in the last year and accreditation grow to more than 800 MBA, DBA and MBM programmes at 201 business schools worldwide. Andrew’s vision, leadership and international experience will help take the Association to its next level of growth.”

Main Wilson’s extensive management experience includes running a premium brand membership organisation and building high level executive education services during his sixteen years with the Institute of Directors (IoD) as Chief Operating Officer and Managing Director of IoD Enterprises. During this period he launched a suite of qualifications including the Certificate and the Diploma in Company Direction and the Privy Council approved Chartered Director Accreditation. Before joining the IoD he was Marketing and Commercial Director of Thomas Cook and Sales and Marketing Director of Citibank Diners Club.

As AMBA continues its growth, Main Wilson will bring a global outlook and passion for international leadership issues. He has travelled to more than 150 countries and interviewed many of the world’s most famous leaders, including Bill Gates, Jack Welch, HRH Duke of Edinburgh, Archbishop Desmond Tutu and Lady Thatcher in her last ever filmed interview.

“AMBA is a truly global business organisation with enormous potential for further growth which is why I am very excited to join as Chief Executive,” said Andrew Main Wilson. “Operating as both an accreditation and membership organisation, AMBA is unique in the postgraduate management field, as it brings together the business leaders of tomorrow with the thought leaders of today.”

“I look forward to working closely with the world’s leading business schools and AMBA’s MBA members to ensure outstanding postgraduate management education continues to be the top priority for employers, governments and ambitious executives who will become the global business leaders of the future.”

Main Wilson joins Deans and Directors from more than 140 business schools in 40 countries who are attending AMBA’s International Conference (15 – 17 May 2013) entitled ‘Beyond tomorrow: anticipate and act’. The annual event gives top management from accredited business schools the opportunity to come together to exchange knowledge, best practice and ideas on key issues facing MBA programmes including the virtual classroom, emerging markets, programme differentiation and future MBA careers.

For more information on the Association of MBAs go to http://www.mbaworld.com/press

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View in PR Newswire Asia website: Association of MBAs Announces Andrew Main Wilson to Join as Chief Executive

Written by asiafreshnews

May 15, 2013 at 9:02 pm

Posted in All releases