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0008
Found this on another board !! fwiw, post = from last yr !!!!-----------------
boz-with the group in canada that bgt up most of stock -northfield capital--i would look for them to put some type of minerals company inti this. after sometype of settlement of the pak law suit--we can post info -have not called anyone for quite some time
http://www.northfieldcapitalllc.com/
0008, 001 x0015
Is this coming back to life?
3 1/2 years later? i forget
r.i.p tntu.....theres alot of people who got burned in february who would sell in a heartbeat if this ever starts to move again.but its dead now so noone will revist this dud again
still running like a champ.
ok, just checkin... btw very nice gains
Yes man i sold out !!but i support for the longs here ! whas good for me !
http://www.investorshub.com/boards/read_msg.asp?message_id=17094198
Carlito, I thought I remeber reading last week that you sold off your position in TNTU. Excuse me if I have you confused with someone else.
I second that. .05...
very nice close and held it's gains, looking forward to tomorrow
todays gains holding nicely, will be interesting to watch the last hour of trading to see how many daytraders dump.
Notice how former CEO's warrants expired on 2/12. Am I reading it right?... new company whoever it is aquired all of the stock within the last year, but former CEO still had warrants he could exercise at a minimum of .40 - .60 up until the 13th of Feb. Now that they are expired...meaning that former CEO may not exercise, they are free and clear to conduct whatever it is they are going to do with the shell. Does whoever plan to value their shares over .40 when formally introduced? Who knows?
yes, a shell play
Whats going o+n here, a shell purchase
I thought for sure some daytraders would have sold in the last hour but they didn't. It held its gains nicely which is why I started a small position.
GLTY
it took 10 mins for the mm's to fill me 28k shares, small position but let's see what happens
In as well. She is strong and it's hard to fill...
Yep monster runnn in from 0039 here ,) make my monthhh
3 Years Without A Post = Rip Van Winkle
On the nasdaq Tengtu page it says there are only two people
working for Tengtu and none of the info given by the company ever says how many people the company is composed of. Would you explain the nasdaq site and elaborate on the number of people working for this company? Thanks
Not at all Stud ------ TNTU is focused only on grades K-12 !
BIG TNTU COMPETITION!
(COMTEX) B: Dynamic I-T Incorporated Gets Head Start In Graduate Student
B: Dynamic I-T Incorporated Gets Head Start In Graduate Student Enrollment
SANTA MONICA, Calif., Mar 10, 2003 (BUSINESS WIRE) -- Dynamic I-T, Inc.
(OTCBB:DYNM) today confirmed reports that its partner, Century University, has
accepted over one hundred new applicants into the companies' MBA degree program.
The program, announced last summer, is unique in its international marketing
target -- students in China's top universities. In Beijing, a third entity of
the joint venture, Meijia Jianye Education Development Co., Ltd attests that (on
a daily basis) additional applications are arriving.
Dynamic I-T is impressed with the pace at which new students are being accepted.
Original projections by the company planned for 500 graduate students to be
enrolled by the end of the program's first year (the company's July 17, 2002
press release incorrectly denotes the first year begins "September 2002"). At
the current rate initial enrollment is ahead of projections, and the company is
optimistic that the trend will continue. The high rate of enrollment is also
encouraging for an undergraduate program provided through the same partnership,
which seeks to sign 3,500 students this year and 10,000 next year.
Spencer Young, President and CEO of Dynamic I-T, Inc. explained how the numbers
affect the company's revenues:
"Our company is very pleased to help provide quality education to students who
might otherwise go without," said Mr. Young, "just as we are sure that the $159
revenues per student will please our shareholders. Based on current numbers our
revenues from these two programs alone could exceed our original expectations of
$600,000 during the first scholastic year."
Dynamic I-T, Inc. is in the process of negotiating additional partnership
programs that promise to be at least as profitable as the Century University
program.
About Dynamic I-T, Inc.
Headquartered in Santa Monica, CA, Dynamic I-T, Incorporated (OTCBB:DYNM), under
its L-earnbiz brand is a provider of cutting-edge executive education seminars
to senior executives in major corporations and organizations worldwide via
distance learning formats. Through exclusive agreements with world-renowned
academics, the Company provides specialized seminars for Corporate America. For
more information please visit the company's site at www.L-earnbiz.com.
About Century University
Century University has been providing non-traditional degree programs to U.S.
and foreign students since its establishment in 1978 and is a member of the
Accrediting Commission International. Century University offers Bachelor,
Master, and Doctoral degrees in a variety of disciplines, including business
administration, engineering, computer sciences, education, public
administration, and health care management, occupational safety and health
management, psychology, management consulting, and food marketing. For more
information please visit www.centuryuniversity.edu.
About Meijia Education
Headquartered in Beijing, Meijia Education was established in 2000 as the
privatized successor to Beijing Yide Sci-Tec Co., which, since its inception in
1992 was operated by the Ministry of Education. Mr. Haisheng Zhou, who headed
this division of the Ministry from the onset, now serves as Chairman of the
privatized company. Meijia Education's charter, granted by the MOE, is to
provide Chinese students with international sources for higher education and
vocational training. For more information please visit the Meijia Education site
at www.mjedu.com.cn.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of
1995
This press release may contain forward-looking information within the meaning of
Section 21E of the Securities Exchange Act of 1934, including statements that
include the words "believe," "intend," or similar expressions. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
Dynamic I-T, Inc., to differ materially from those implied or expressed by such
forward-looking statements. Dynamic I-T, Inc., advises to review all subsequent
reports filed with the Securities and Exchange Commission under the Exchange
Act. The Company undertakes no obligation to publicly update or revise any
forward-looking statements, facts, events or circumstances that may bear upon
this press release.
CONTACT: Equitilink, LLC
Ronald L. Garner, 877/788-1940
ron@equitilinkpr.com
URL: http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2003 Business Wire. All rights reserved.
-0-
KEYWORD: CALIFORNIA CHINA INTERNATIONAL ASIA PACIFIC
INDUSTRY KEYWORD: E-COMMERCE
INTERNET
EDUCATION
SOURCE:
Dynamic
I-T,
Inc.
*** end of story ***
looking good !!!!!!
Watch List As of: 3:37pm 3/3/2003
Symbol Last Change % Change Volume
TNTU 0.54 0.06 +13.68% 286,200 Trade
TNTU news..........
Tengtu International Announces the Closing of US$4 Million in Private Placements; Announces Retirement of US$1.5 Million Quest Loan
TORONTO & BEIJING, Feb 21, 2003 (BUSINESS WIRE) -- Tengtu International Corp. (TIC) (TNTU), a developer, marketer, distributor and integrator of distance learning solutions and e-education software, announced today that it has successfully completed a series of private placements that include a recent placement through Dundee Securities Corporation (Dundee). The total amount raised by the Company in this round of private placements is US$4 million.
Individual investors from the U.S. and Canada participated in the private placement for approximately US$2.5 million. Canadian institutional investors, through Dundee and TIC Chairman William Ballard, participated for approximately US$1.5 million.
These private placements complete the Company's financing objectives set out in fiscal year 2002 to raise US$15 million. This funding was sought in support of the capital and development requirements of Tengtu's role as the operating partner of China's national e-learning portal (CBERC) and provincial e-portals (LBERCs).
On June 20, 2002 Tengtu announce that it had closed US$11 million in private placements.
This recent round of private placements was concluded on favourable terms to the Company and its shareholders at a unit price of $1.00 for two common shares, with a warrant exercisable at $0.75 over a 12-month period.
The company also announced that it had retired a US$1.5 million loan on November 30, 2002. This loan was provided by Quest Ventures Ltd. on the previous closing of US$11 million on June 30, 2002, as a short-term loan bridging completion of the US$4 million balance of equity financing the Company was seeking.
About Tengtu International Corp.
Tengtu International Corp. (www.tengtu.com) is a developer, marketer, distributor, and integrator of distance learning solutions and e-education software. Tengtu International Corp controls 57% of a joint venture with its China partner, Tengtu China. The JV (Tengtu) has been chosen by China's Ministry of Education to be the operating partner in the deployment of China's national education portal and distance learning network. Tengtu is a key player in "Operation Morning Sun," China's national initiative to make computerized education available to 250 million students in the country's 800,000 kindergarten through 12th grade (K-12) schools.
To be added to Tengtu's email list for Company news, please send your email address to info@tengtu.com.
Note: Portions of this press release include forward-looking statements made pursuant to the safe harbour provisions of the Securities Litigation Reform Act of 1995. Actual results could differ materially from the results discussed in this release and in the forward-looking statements contained herein for many reasons. Investors are cautioned that all forward-looking statements involve numerous risks and uncertainties, including but not limited to product development, product acceptance, licensing opportunities and general economic conditions. For more information concerning Tengtu International Corp., and risk factors that may affect its future results and may cause actual results to vary from results anticipated in forward-looking statements, investors should review the Company's public filings with the U.S. Securities and Exchange Commission.
Tengtu International Corp.
John Watt, 416/963-3999
http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2003 Business Wire. All rights reserved.
financials........
Tengtu Reports Second Quarter of Fiscal 2003 Financial Results; Company Uses Q1 and Q2 to Realign & Expand Market Role in China
Company Restates First Quarter Of Fiscal 2003 Financials
TORONTO & BEIJING, China, Feb 20, 2003 (BUSINESS WIRE) -- Tengtu International Corp. (TNTU), a developer, marketer, distributor and integrator of distance learning solutions and e-education software, announced today fiscal 2003 second quarter financial results and the restatement of fiscal 2003 first quarter financial results.
Overview of Business for the Six Months Ended December 31, 2002
When Tengtu China was awarded the co-operative agreements to be the Chinese Ministry of Education's operating and development partner for the national e-education portal and distance learning network (CBERC), and the key strategic provincial portals (LBERCs), it required the Company to undergo major readjustments in how it would engage the marketplace on a system-wide basis versus school-by-school. Accordingly, instead of selling products to individual schools, the focus is now on selling products to entire school districts as a captive market. These readjustments were required to address potentially significant new revenue streams represented by the greater opportunities going forward.
In keeping with the advice of PricewaterhouseCoopers of China (Pu Hua Yong Dao) who advised Tengtu China in the restructuring of its business to address the new opportunities, the Company undertook a major restructuring effort for its operations, product lines and strategies.
Tengtu's distribution channels for its products and services will now encompass a nation-wide satellite system, an education portal ("e-portal") infrastructure at the provincial, local and city/district levels. Previously, the sales channels were through local branch offices and on a school-by-school basis. The Company believes that these new distribution channels will enable Tengtu to rapidly increase the number of client schools for its software and services more efficiently district by district, province by province and create captive markets for its products and services under a system-wide marketing approach.
The Company has also had to undertake aggressive development of its product lines and portal infrastructure for the expanded role it will be playing across new distribution channels in China's K-12 marketplace.
While Tengtu will still be selling its software application platform, its "Total Solution" has now evolved to include a greater product mix of not only platforms, but e-portals, satellite connectivity, system integration services, e-publishing content, training centers and "campus-end" software and products for administration and e-learning in WAN and LAN systems.
This has required Tengtu to undertake a major effort and commitment of resources in the first and second quarters of fiscal 2003 to re-engineer its product lines and to develop the portal infrastructure to support the new business opportunities going forward. At the same time, previous policies and strategies with regard to marketing and payment of accounts have been re-adjusted to the requirements of supporting the growth of the business ahead. Specifically, Tengtu has focused on the collection of past due receivables and e-portal design and development. This has required a slow-down of platform installations and the implementation of new marketing and distribution channels. This work is being completed to ensure that platform sales and new streams of revenue will be available to the Company as it engages the market at significant new levels in the latter quarters of fiscal year 2003.
As a result of the foregoing activities, which constituted a restructuring of Tengtu's business in China and because schools were closed during the quarter ended September 30, 2002, only 6 Total Solution platforms were installed, 1,181 sets of satellite equipment, and 58 packages of educational CD-ROM's were sold to in the first quarter of fiscal 2003. Since ShaanXi LBERC joint venture started its business at the end of June 2002, it has been purchasing and selling Tengtu products. Of the 1,181 sets of satellite equipment sold in the first quarter of fiscal 2003, 66 of them were sold to ShaanXi LBERC joint venture. The restructuring activities continued in the second quarter of fiscal 2003 (three months ended December 31, 2002), only 22 Total Solution platforms were installed, 460 sets of satellite equipment, and 730 packages of educational CD-ROM's were sold to schools. Of the 460 sets of satellite equipment sold in the second quarter, 440 of them were sold to ShaanXi LBERC joint venture.
With respect to the Company's focus on the collection of receivables, in October 2002, Tengtu China and the Agricultural Bank of China ("the Bank") entered into an agreement for the provision of an $18.5 million buyer's credit line to be made available to the Company's customers (K-12 and vocational schools) for the purchase of the Company's products and services. Tengtu China provides the guarantee for each loan that schools withdraw from the credit line. Use of the Agriculture Bank credit facility also required Tengtu to adjust its marketing strategy from school by school to district by district to efficiently use the Bank's authority in each area. This strategy is in alignment with Tengtu's overall system wide marketing strategy.
The Company believes that this credit facility will reduce its receivable balances going forward and allow for a 'pay as you go' client payment policy giving the Company access to greater cash flow to sustain its operations and growth in the market.
Fiscal 2003 Second Quarter and Six Months Performance
As discussed above, during the six months ended December 31, 2002, the Company underwent a major restructuring of its marketing strategy and product mix in China. These major restructuring steps required Tengtu to undertake a significant effort and commitment of resources in the first and second quarter of fiscal 2003, therefore contributing to a slow-down of platform installations. Sales for the second quarter of fiscal 2003 were $534,187 compared with $4,061,008 for the same period in fiscal 2002. Tengtu reported a quarterly net loss of $(714,875) compared with a net loss of $(7,237) a year ago. Sales for the six months ended December 31, 2002 were $1,172,833 compared with $7,302,323 for the same period in fiscal 2002. The net loss for the six months increased to $(1,840,522) compared with net income of $856,796 a year ago.
"The Company was able to use the summer months while schools were closed and the period of the fall season to undertake a major re-tooling of its product lines and reformulation of its business strategies. Essentially this required the Company to put restraints on its marketing and sales approaches resulting in lower revenues in this transition period. This effort will pay significant rewards going forward and start to be evident in Q3 and Q4," stated John D. Watt, President of Tengtu International Corp. "The Company has had to prepare for its expanded opportunities and increased market scope while maintaining its position as the market leader in solutions for the K-12 school system in China. We are very confident about the Company's future as it now engages the marketplace at greater levels of opportunity than previously," he concluded.
See President's Statement (www.tengtu.com).
"The Company has undertaken a considerable and focused effort to prepare for its expanded role in China's K-12 market," stated Fan Qi Zhang, CEO and Chairman of Tengtu China. "This effort is now enabling us to aggressively penetrate the market on a system-wide approach and maintain our leadership in solutions for the e-education market in China and the quality of customer service. Our 'pay as you go' strategy will ensure the Company has access to cash flow to sustain and manage the growth these opportunities will represent," concluded Mr. Zhang.
Restatement of Fiscal 2003 First Quarter Results
Due to a computer input error in the quarter ended September 30, 2002, the units of satellite equipment sold during the quarter was erroneously recorded as the units of platforms sold, and vice versa. Because the platform has a higher average unit sales price and a higher average gross margin than the satellite equipment, the error resulted in higher sales and higher net losses for the quarter ended September 30, 2002. The Company has also accrued a quarterly interest income for the restricted cash deposited in Min Sheng Bank (of China). The impact of the restatement is summarized below:
(i) a decrease in sales of $1,270 thousand, from $1,908 thousand to $638 thousand; (ii) a decrease in gross profit of $1,189 thousand, from $1,365 thousand to $176 thousand; (iii) a decrease in operating expenses associated with sales of $87 thousand, from $1,367 thousand to $1,280 thousand; (iv) an increase in interest income of $63 thousand; (v) a decrease in other income associated with sales of $200 thousand, from $279 thousand to $79 thousand; (vi) income tax decreased from $131 thousand to $0; (vii) minority interest in subsidiary's income decreased from $291 thousand to $0; (viii) net loss increased by $816 thousand from ($309) thousand to ($1,125) thousand; (ix) an increase in loss per common share of $0.016 basic to ($0.022) basic. For additional detail of the transactions involved in the restatement and their impact on the Consolidated Financial Statements, See Note 12 of the Notes to Consolidated Financial Statements.
TENGTU-INTERNATIONAL CORP. Consolidated Statement of Operations
Three Months Ended Six Months Ended
December 31, 2002 December 31, 2002
----------------------------------------------------------------------
2002 2001 2002 2001
----------------------------------------------------------------------
Revenue $534,187 $4,061,008 $1,172,833 $7,302,323
----------------------------------------------------------------------
Net Income (Loss) (714,875) (7,237) (1,840,522) 856,796
----------------------------------------------------------------------
Net Income (Loss) per
Share: Basic (0.014) (0.000) (0.036) 0.018
----------------------------------------------------------------------
Weighted Average
Number of Shares:
Basic 52,253,857 49,472,296 51,478,634 48,232,491
----------------------------------------------------------------------
About Tengtu International Corp.
Tengtu International Corp. (www.tengtu.com) is a developer, marketer, distributor, and integrator of distance learning solutions and e-education software. Tengtu International Corp controls 57% of a joint venture with its China partner, Tengtu China. The JV (Tengtu) has been chosen by China's Ministry of Education to be the operating partner in the deployment of China's national education portal and distance learning network. Tengtu is a key player in "Operation Morning Sun," China's national initiative to make computerized education available to 250 million students in the country's 800,000 kindergarten through 12th grade (K-12) schools.
To be added to Tengtu's email list for Company news, please send your email address to info@tengtu.com.
Note: Portions of this press release include forward-looking statements made pursuant to the safe harbour provisions of the Securities Litigation Reform Act of 1995. Actual results could differ materially from the results discussed in this release and in the forward-looking statements contained herein for many reasons. Investors are cautioned that all forward-looking statements involve numerous risks and uncertainties, including but not limited to product development, product acceptance, licensing opportunities and general economic conditions. For more information concerning Tengtu International Corp., and risk factors that may affect its future results and may cause actual results to vary from results anticipated in forward-looking statements, investors should review the Company's public filings with the U.S. Securities and Exchange Commission.
Tengtu International Corp.
John Watt, 416/963-3999
http://www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2003 Business Wire. All rights reserved.
I'm watching, EZ:). For the short term, the best entry looks like HRCT. Longer term. . .there are so many options it's difficult to decide where to start. Terrorist proof vehicles may be a place to start!
Peace,
repost from RB:
By: dutt10
19 Feb 2003, 07:43 PM EST Msg. 9667 of 9680
Letter from TNTU president John Watt
I have reformatted it to fit. Here's the link for the original.
http://www.tengtu.com/documents/tntu_press_030220.pdf
PRESIDENT’S STATEMENT
Highlights:
Completion of $15 Million Private Placement
Retirement of $1.5 Million Quest Loan
Company uses Q1 and Q2 to Restructure for CBERC, LBERC
and Expanded Market Role
Adopts “Pay-As-You-Go” Policy and Starts Using
Agricultural Bank Credit Facility
New Product Line and Revenue Streams
Fiscal years 2002 and 2003 will prove to be two of the most challenging and exciting in our history. We were both tested and rewarded in 2002 experiencing unprecedented growth and market success having achieved a dominant position at the front-end of the growth curve in the world’s largest and most rapidly developing e-education market.
We undertook to complete US$15 million in equity funding, in difficult capital markets, which was required to support the company’s role as a partner in China’s national and provincial e-education networks.
Going forward we believe our challenges lie in managing the growth and in capitalizing on the tremendous opportunities we have ahead of us.
Fiscal year 2002 signaled a healthy future. Sales revenue reached $14.3 million, primarily generated from the installation of its “Total Solution” software platform. This represented a 150 percent increase in revenue over fiscal year 2001 and net income for fiscal 2002 of $1.6 million.
With Tengtu’s software application endorsed by the Ministry of Education as a solution for China’s IT education priorities, some 12,000 schools were successfully installed across China.
Tengtu International Corp. www.tengtu.com
236 Avenue Road, Toronto, Ontario Canada M5R 2J4 Phone: 416-963-3999 Fax: 416-963-9659
Tengtu International Corp. www.tengtu.com
2
Our initial strategy to gain a significant market position through the installation of the “Total Solution” platform on a school-by-school basis required us to have a broad marketing presence across China in some 22 provinces. It also required us to operate under the existing market conditions where school budgets are administered twice a year and the collection of receivables extends over a wide territory. We found that in a system where educational funding usually flows from the top down, collections from the local school level up through county and district levels to a national collection point in the Ministry of Education was a difficult undertaking. New strategies had to be implemented.
Nevertheless, the “Total Solution” platform represented a cost-efficient solution whereby remote schools could become computerized learning environments in step with schools in more economically advantaged regions. Tengtu’s “made-in-China” solutions created high demand across the country and gave the Ministry of Education a solution to meet its policy objectives of “parity” in the modernization of its K-12 education system.
Our initial strategy to establish the company’s brand, products and services quickly at the individual school level, and at the front end of China’s modernization curve established Tengtu as the market leader for e-education solutions. It also established recognition for Tengtu’s ability to address the modernization goals of China’s education policies with innovative and leading technology solutions and quality customer service.
Based on our initial strategies and products Tengtu was selected by the Ministry of Education to be the operating partner of China’s national e-education resource
repository and distance-learning network, known as CBERC (China Broadband Education Resource Center).
CBERC, as the national portal for K-12 learning in China is supported by a satellite network that footprints all of China and which we believe can eventually connect some 700,000 schools, 250 million students, administrators and teachers. In essence, we had acquired a leadership position over the whole market in China with the goal of supplying the market with our products and services on a system-wide basis rather than Tengtu’s previous school-by-school sales strategy.
At the same time, provincial and local district education portals are being developed to create a distribution and communication network connected to the national CBERC repository, while enabling schools to connect to each other, teachers and administrators to connect with each other, and households to connect to the system. The objective is for these provincial and local district portals known as LBERCs (Local Broadband Education Resource Centers) to support access to local curricular content and administration tools, value-added learning content and tutoring services, and several enterprise activities conducted at the local school level.
Our strategy was, and is, to establish a leading position in the LBERC network in conjunction with our role as the operating partner in the national CBERC portal. We have entered into co-operation agreements with key strategic provincial branches of the Ministry of Education as the operating partner of LBERCs, consolidating a major position in this aspect of the market. The LBERCs will enable us to develop a broader customer base for products and services on a district-by-district, and even province-by-province basis, versus school-by-school, giving us significant captive markets through which to sell our other software products and systems integration services.
We have also developed and are currently implementing, turnkey e-portal systems sold to local and district authorities which will accelerate our build out in the market.
As President of Tengtu International Corp., I feel it is important to set out this context and to express my enthusiasm and commitment for the opportunity facing us. I also want to ensure that shareholders fully understand what we have achieved to date as well as our prospects in some of our newer distribution channels.
We believe that the importance of being awarded the 20 year exclusive position as the operating partner of CBERC with the Ministry of Education’s National Audio and Video Center (NCAVE) cannot be overstated. It favorably positions us over the market in China providing levels of penetration unavailable through previous marketing efforts.
We believe that the LBERCs will enable us to access and generate significant new revenue streams as we engage the market at the local level in certain provinces, meeting various customer needs and enterprise opportunities.
In anticipation of, and to meet these opportunities before us, we set out to raise US$15million through private placements in 2002 under some of the worst capital
market conditions ever. In spite of these conditions, I am pleased to announce that we have met that objective. On June 20th, 2002 we announced that we had secured US$11 million in private placement funding. We recently closed the additional US$4 million required to complete the US$15 million placement.
The private placement investments were needed to consolidate and fund the capital and development requirements of our role in CBERC and in the LBERCs. The investors in the private placements are individual and institutional investors from North America, as well as investors from mainland China, including Mr. Fan Qi Zhang, the CEO of Tengtu China, our joint venture partner and the company which carries out the operations of the joint venture in China.
The last US$4 million of private placements were concluded on favorable terms to the company and shareholders at a unit price of $1 for two common shares, with a warrant attached exercisable at $0.75 over a 12 month period.
At the same time the company has retired the US$1.5 million loan provided by Quest Ventures as a bridging loan to the company pending the completion of the private placement exercise.
236 Avenue Road, Toronto, Ontario Canada M5R 2J4 Phone: 416-963-3999 Fax: 416-963-9659
Tengtu International Corp. www.tengtu.com
4
We have, in the past, reported the lengthy process in the collection of receivables in China. With regard to this “receivables” issue, we announced that our joint venture partner entered into an agreement with the Agricultural Bank of China, which will provide a credit facility to Tengtu’s customer base. This will enable us to have quicker access to cash flow and operating capital to support its business growth in the market. Use of the Bank facility has allowed Tengtu to adopt a new strategy of “pay-as-you-play” going forward for the clients accessing Tengtu’s product and services.
Now, in determining our marketing strategies, assessments will be made with the Bank on a district-by-district basis to see where the facility can be best utilized. As a result, on the closing of the school year ended June 30, 2002, we suspended our approach to the market of installing the “Total Solution” platform on a school-by-school basis. In addition, we have now put into effect an aggressive effort to accelerate the collection of previous outstanding receivables.
We are currently using the Bank’s credit facility as we contract client users in new distribution channels aimed at entire school districts.
At the same time, we have used the period of the summer months, when schools where closed as well as the early months of the fall, to restructure our approach to new market opportunities, and to reengineer our software, portal architecture, and applications that will support CBERC and the LBERCs. This critical work establishes Tengtu’s new distribution channels encompassing a nation-wide satellite system, and an e-portal network at the provincial, local and city/district levels.
While we will still be selling our software application platform, the “Total Solution” we provide to the market has now evolved to a greater product mix of platforms, e-portals, satellite connectivity, system integration services, e-publishing content, training centers and “campus-end” software and products for administration and e-learning in WAN and LAN systems.
The greater product mix has required Tengtu to undertake a major effort and commitment of resources in the first and second quarters of fiscal 2003 to re-engineer its product lines and to develop the portal infrastructure to support the new businesses. Previous policies and strategies with regard to marketing and payment of accounts have been re-adjusted to the requirements of supporting growth of the business ahead. This has required a slow-down of platform installations under the previous marketing and receivables policies, a focus on portal design and deployment, and the implementation of new marketing and distribution channels as set forth above.
Fiscal 2003 Q1 and Q2 results reflect this period of necessary restructuring and our revised approach to the market.
236 Avenue Road, Toronto, Ontario Canada M5R 2J4 Phone: 416-963-3999 Fax: 416-963-9659
Tengtu International Corp. www.tengtu.com
236 Avenue Road, Toronto, Ontario Canada M5R 2J4 Phone: 416-963-3999 Fax: 416-963-9659
5
We will be making announcements over the weeks ahead on the progress of our implementation of the new business strategies. I am confident that shareholders will share our enthusiasm for Tengtu’s future and be rewarded going forward.
I am confident fiscal 2003 Q3 and Q4 results will start reflecting the significant potential and achievement of Tengtu’s restructured position in China’s K-12 marketplace.
I am also confident in the ability of Tengtu China’s management under the direction of its CEO and Chairman, Mr. Zhang, a Director and shareholder in Tengtu International Corp., to achieve maximum results.
As President and a shareholder of Tengtu International Corp., I am more confident and excited about Tengtu’s future than ever.
John Watt
President
Tengtu International Corp.
OT: the party line is humming !!!!!!! :)
http://www.investorshub.com/boards/board.asp?board_id=485
nice day, so far !!!!!! :)
As of: 12:49pm 2/5/2003
Symbol Last Change % Change Volume
TNTU 0.50 0.06 +13.64% 75,300
GOOD thing about LUCK.........don't cost ya'
a dime !!!!!! :)
b/t/w.....gotta PAY to PLAY over here !! :)
EZ 2 :)
http://www.investorshub.com/boards/board_surveymenu.asp?board_id=485
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06/26/01
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