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http://finance.yahoo.com/banking-budgeting/article/106348/Cents-Off-Coupons-and-Other-Special-Deals-via-Your-Cellphone
I thought this was an interesting yahoo article.
I'm not selling my 1530 shares, I have followed this for too many years and even though I lost tons of money on ssty and tpid, why sell out now. I'm waiting for a good press release and a good pop in the price. I don't need the $150 so I will bank on this company actually generating some revenues over there in China and when they do, maybe I will at least be able to get my original investment back, if not, oh well.
Chucker, I believe it is supposed to be September 13th. After that date you can have the transfer agent transfer your shares to the street name without a company opinion letter. There are some conditions like whether or not the company is compliant with all their filings. We will see what happens next week.
Looks like they are getting their ducks in order. Sometimes the the ducks appear placid on the surface but paddlin’ like hell underneath. Looking forward to some real progress (revenue).
FYI,
If anyone can decifer this and explain exactly what they mean, let me know. I called a few of my atttorney friends and they said to look up the exact issues tpdi and ssty are working with the sec on in order to get our shares unrestricted, it appears that the spin off dates and actual ownership dates are different and that is why we have to wait till Sept 13th, but I could be wrong because I have not dived into what this all means yet. I will work on it over the next few days and make a few calls to clarify my findings.
Best Regards
Johncee
To All True Product ID (“TPID”) Shareholders who Received Restricted Common Shares ("Spin-Off Shares" or "Shares") from the Spin-Off of Sure Trace Security Corporation (“SSTY”)
This is to notify you that TPID’s attorneys have numerous conversations with the United States Security and Exchange Commission (“SEC”), Division of Corporation Finance about the conditions for release of the Rule 144 restrictions from TPID Shares distributed in the SSTY spin-off. The SEC announced on September 13, 2007 that it had settled an action against Sure Trace Security Corporation and determined that all TPID Spin-Off Shares issued in the SSTY spin-off were distributed in violation of the registration requirements of the Securities Act of 1933 (“Act”). The details of this SEC ruling can be read in SEC Litigation Release No. 20277, which is accessible in the hyperlink below.
The SEC has taken the position that the Spin-Off Shares are the product of a series of transactions that involved violations of the registration requirements (Section 5) of the Securities Act of 1933 (the "Act"). As a result, both TPID and any seller of Spin-Off Shares are subject to the express liability provisions of Sections 12(a) (1) and 12(a) (2) of the Act. Under these sections, a purchaser of Spin-Off Shares can sue the selling TPID shareholder for rescission of the sale as well as damages. TPID can also be sued for damages as part of these statutory rights. Any post-sale fluctuation in the price of TPID’s stock can trigger these rights to rescission and damages.
The Section 12(a) (2) liability exists for one year from the date a purchaser of Spin-Off Shares discovers, or should have discovered, the Section 5 violation. In our situation, a purchaser of Spin-Off Shares should have known about the violation as of September 13, 2007, the date of SEC Litigation Release No. 20277. TPID’s present management has been made aware that prior to receiving the opinion from our counsel, that some Spin-Off Shares had restrictions removed in the past. The SEC advises that this fact does not change their assessment that the Spin-Off Shares are subject to the one year liability period imposed by Section 12.
In conversations with our attorneys, the SEC stated that the Rule 144 restrictions on the Spin-Off Shares should not be removed until the one year liability period has lapsed. To ensure that TPID shareholders and TPID are not exposed to the express liability provisions of Section 12(a), TPID, on the advice of special securities counsel, will presently defer all requests to remove restrictive legends from Spin-Off Share certificates until after September 13, 2008. That date marks the end of the one-year liability period described above.
TPID has been advised by the representatives of Sure Trace Security Corporation (SSTY), who participated in the dividend and subsequent SEC proceedings related thereto, that there may be facts and information relating to the dividend and subsequent SEC proceedings which may impact the issues surrounding the removal of the restrictive legend on the dividend shares. So that SSTY’s issues are given proper consideration, the Company formally invites SSTY to present whatever facts and information it may have to the SEC, to make its arguments to the SEC, and to request that the SEC reconsider the
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matter. This is especially appropriate because it was SSTY, not the Company, that conceived, handled, and implemented the dividend, and because it was SSTY, not the Company, who was the named in the SEC Complaint.
We apologize for this situation; however, we are acting upon advice of special securities counsel and upon consultation with the SEC. We believe this course of action is best for TPID and all shareholders who received Spin-Off Shares in the described transactions
http://www.sec.gov/litigation/litreleases/2007/lr20277.htm
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Massive pr, Germany, reverse split, shareholders not able to unrestrict their shares (due to their own lack of trying) big scam perpetuated by MKG.
Come on now you guys know this is a shot in the dark. Any small investor in this stock that tries to control the outcome is totally funny. The bottom line is that Mackay is an entrepreneur world wide. He has had some successes like World Gaming and a few others, but it seems all the tpdi investors who got burnt on ssty are ready to call this guy out.
The technology is still alive, it is relevant in regards to it's application in China and the rest of the world. I surley would not, if I were Mackay be spending my time on projects that did not have any potential. Surely most of you think that Mackay is just some pump and dumper, someone that buys octbb shells and comes up with some fantastic company to attract unsuspecting investors in the penny stock arena to spend their money on his stock issues.
He is actually trying to hit a home run on this one. Wait until the Olympics games in China and I believe you will see this company become a viable part of the need for anti counterfeiting in China and the rest of the world.
Nobody wants to be a looser, Mackay is no different than you or I.
Seems like a pretty descent firm.
http://www.mycpa.net/default.asp
It's time for a pr, come on Mr. Hendricks give us that next pr, lets bank some revenue.
Looks like a good time to pick up some free trading shares.
Oh so you have all the answers on this stock do you? I see you only have two posts on this stock and two on Ihub total. Wow does that make you an expert. Yes I believe that they have and will start receiving revenues from the 1.3 billion dollar gas tank contract, why don't you check out some of my previous posts, that go back three years and then after reading all the dd on this stock, you can then come back on this board and make an intelligent informed comment.
What other penny stock have you heard of that has had a billion dollar contract. Some have gone to a dollar or more based on a hundred million, this one is going to fly when revenues start coming in.
One Billion in revenues starting mid 2008. When the street finally realizes that this is real it will no longer be a penny stock. Most penny stocks have one or two big runs and then die forever because the companies usually do not have a competitive product or the management is just printing money by selling shares. This just may turn out to be the biggest penny stock run we have seen.
Upon successful completion of this initial six-month phrase, AQSIQ has advised that it will implement additional government directives specifying the details of the continued roll out of the Company's S-DNA and KMACK technology in the remaining provinces and cities in China.
AQSIQ has also discussed extending its mandate to use the Registrant's technology to applications other than LNG tanks, including, but not limited to, elevator parts, other pressurized containers, amusement park equipment, automobile manufacturing equipment, and cell phone batteries.
MORE CONTRACTS ON THE WAY THIS SUMMER
The Registrant's COO and former KMPG executive in China, William Hendricks, will head a Western team of experts knowledgeable both in good manufacturing practices and with China, which will soon fly over to China to commence roll out of the initial phrase of the National Gas Tank Contract for provincial branches in Beijing , Zhejiang, Guangdong, Liaoning, Yunnan, and Chongqing, anticipated to take 6 months.
AUGUST OF 08 WILL BE WHEN THIS FLYS
the term of the new joint venture will be for a total of 30 years. The latest revenue projections for Registrant's first 5-years of the National Gas Tank Contract Equipment Ramp up with AQSIQ are anticipated to be approximately US$2 Billion gross, US$1 Billion net.
ONE BILLION NET THAT'S 2.94 PER SHARE AT 339MM SHARES. AT 1B SHARES THAT'S 1.00 PER SHARE.
19-Feb-2008
Change in Directors or Principal Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 18, 2008 the board of directors of the Registrant accepted the resignation of Li Ning as a director of the Registrant, effective immediately.
Item 8.01.
Other Events.
As was recently confirmed in an English translation, a representative of the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ"), filed on January 29, 2008 the initial official documents, known as the "Red Hat" documents, to form a new joint venture between the Registrant and AQSIQ to roll out AQSIQ's Chinese National Gas Tank Contract with the Registrant. Pursuant to its Official Circular in August 2007 to every province and municipality in China, AQSIQ, the Chinese counterpart to the U.S. Consumer Product Safety Commission, has mandated the use of the Registrant's S-DNA and KMACK anti-counterfeiting and product safety monitoring technology as part of Chinese Government's National Special Equipment Safety and Security Initiative. In the first phrase of AQSIQ's National Special Equipment Safety and Security Initiative, the Registrant will apply its S-DNA and KMACK technology to all 130 million liquefied natural gas tanks in China. Per the Red Hat Documents, the term of the new joint venture will be for a total of 30 years. The latest revenue projections for Registrant's first 5-years of the National Gas Tank Contract Equipment Ramp up with AQSIQ are anticipated to be approximately US$2 Billion gross, US$1 Billion net.
The New Joint Venture will be known as "China Inspection True Product Technology Inc. Ltd.", although other possible names have been reserved. The New Joint Venture will be owned 70% by Registrant, 12% by China Special Equipment Inspection Association, an association which is part of AQSIQ, and 18% by Beijing Youhong Technology Development Inc. Ltd., a Chinese entity which helped promote the National Gas Tank Contract between the Registrant and AQSIQ.
The Red Hat Documents are the initial official documents that must be filed with the Chinese National Industry and Commerce Administration Office to form the New Joint Venture. The Red Hat Documents, which were filed with the approval of AQSIQ leadership and by a representative of AQSIQ, officially reflect AQSIQ's continued commitment to both the New Joint Venture and the roll out of AQSIQ's National Gas Tank Contract with the Registrant.
Once China returns from its national Chinese New Year holiday, Chinese lawyers will proceed with the next administrative steps to complete the registration of the New Joint Venture. A new office is being set up near AQSIQ's office for the New Joint Venture. The Registrant's COO and former KMPG executive in China, William Hendricks, will head a Western team of experts knowledgeable both in good manufacturing practices and with China, which will soon fly over to China to commence roll out of the initial phrase of the National Gas Tank Contract for provincial branches in Beijing , Zhejiang, Guangdong, Liaoning, Yunnan, and Chongqing, anticipated to take 6 months. Upon successful completion of this initial six-month phrase, AQSIQ has advised that it will implement additional government directives specifying the details of the continued roll out of the Company's S-DNA and KMACK technology in the remaining provinces and cities in China. AQSIQ has also discussed extending its mandate to use the Registrant's technology to applications other than LNG tanks, including, but not limited to, elevator parts, other pressurized containers, amusement park equipment, automobile manufacturing equipment, and cell phone batteries.
I didn't bail on this, I'm still in it. I should have sold when it got over .15 but I still have restricted shares. And besides compiling pr's which I did, I also inserted my view points and other relevant dd. I still believe that the company has a good product and if they could get even a small piece of the worldwide anti-counterfeit market I could make a 10 baggeror more. I think a ten bagger or much more is possible with tpdi, and further I don't worry too much about the reverse split.
What's the deal, good news and the price goes down, must not be many unrestricted shares out there considering the low volume.
All we need is some revenues and this baby will fly!
Wang worked with AQSIQ in 2004, several years before AQSIQ issued its Official Government Circular this summer mandating the use of TPID's S-DNA anti-counterfeiting and KMACK product safety monitoring technology for all gas tanks, other pressurized tanks, and other special equipment in China. After AQSIQ passed its initial set of product safety regulations for special equipment in 2003, in conjunction with the Chinese Consulate in New York, Wang organized two delegations of AQSIQ officials to the U.S. in 2004, whereupon Wang was asked by AQSIQ's Center of Boiler and Pressure Vessel Inspection and Research to help disseminate AQSIQ's Import Boiler and Pressure Vessel Safety Quality Licensing requirements to manufacturers and exporters in the U.S. and Canada and to help work with North American manufacturers and exporters to secure the required product safety and licensing certifications for import into China.
IMO it's just a matter of a few months and we will start seeing revenues.
In addition to AQSIQ, Wang has forged close and critical relationships with other leading Chinese Government entities and industries, including, but not limited to, the Ministry of Commerce, the Ministry of Culture (and its cultural antiquity preservation division), the Ministry of Agriculture, the Ministry of Education, the Tourism Administration, the Sports Administration, and Overseas Chinese Affairs Office, the Association of Chinese Mayors, the city/provincial governments of Beijing, Shanghai, Tianjin, Xiamen, Nantong, and Dalian, the provincial governments of Anhui and Liaoning Province, and leading Chinese companies as Air China, China Southern Airline, Jian Nan Chun (one of China's leading liquor manufacturers), Chery Automobiles (one of China's leading automobile manufacturers), the Chinese Basketball Association, and Nike China. Many of these relationships of Wang will help TPID's ongoing initiatives in China related to such applications as sports tickets, agricultural products, auto parts, aviation parts, liquor bottles, and sports apparel, all of which have recently faced challenges related to counterfeiting and quality assurance and safety.
TPID Hires Former Liaison for AQSIQ in North America to Help Oversee Initial Rollout of Its Gas Tank Contract with AQSIQ
Monday January 14, 11:07 am ET
BEIJING & PHILADELPHIA--(BUSINESS WIRE)--True Product ID, Inc. (OTCBB:TPDI - News) today announced that the Company hired former liaison to the State General Administration for Quality Supervision, Inspection and Quarantine of the People's Republic of China ("AQSIQ") for manufacturers and exporters in North America, KeKe Wang, as its new president. Bi-lingual and educated both in China and the U.S., Wang was recently in Beijing with TPID Chairman and CEO, William Dunavant, to oversee TPID's rollout of its Gas Tank Contract with AQSIQ.
Wang worked with AQSIQ in 2004, several years before AQSIQ issued its Official Government Circular this summer mandating the use of TPID's S-DNA anti-counterfeiting and KMACK product safety monitoring technology for all gas tanks, other pressurized tanks, and other special equipment in China. After AQSIQ passed its initial set of product safety regulations for special equipment in 2003, in conjunction with the Chinese Consulate in New York, Wang organized two delegations of AQSIQ officials to the U.S. in 2004, whereupon Wang was asked by AQSIQ's Center of Boiler and Pressure Vessel Inspection and Research to help disseminate AQSIQ's Import Boiler and Pressure Vessel Safety Quality Licensing requirements to manufacturers and exporters in the U.S. and Canada and to help work with North American manufacturers and exporters to secure the required product safety and licensing certifications for import into China. Wang's relationship with AQSIQ and experience with AQSIQ's pressure vessel quality safety initiatives should be invaluable as TPID rolls out the initial phase of TPID's gas tank contract with AQSIQ in six provinces and districts in China. Similarly, Wang's interaction on AQSIQ's behalf with North American companies should help when TPID expands its operational basis, which initially focuses on China, to North America.
Wang has worked closely with, and has helped form a bridge between, U.S. and Chinese governments and industry for over 15 years. Wang was asked by the Commonwealth of Pennsylvania and its Department of Commerce in 1993 to create Pennsylvania's first trade office in China and to conduct its first trade mission to China, and in 1996 to represent the Commonwealth of Pennsylvania in Tianjin (China's 4th largest city). In 2002, Wang was appointed by then Philadelphia Mayor John Street to form and run the China Trade Center of Philadelphia, an organization which works in coordination with the City of Philadelphia and its Commerce Department to promote trade and other opportunities between Philadelphia and China. In 2001 and 2006, Wang organized the first and second trade missions for the City of Philadelphia to China. In 2006, Wang was appointed to be the executive director, China operations, for The Splendor of China™, a significant trade, business, government, and cultural initiative and event between China and Pennsylvania/Philadelphia, which has worked with the Chinese Ministry of Commerce and the Chinese Consulate in New York and plans to bring together in Philadelphia Chinese and U.S. manufacturers, exporters/importers, and government organizations, among others.
In addition to AQSIQ, Wang has forged close and critical relationships with other leading Chinese Government entities and industries, including, but not limited to, the Ministry of Commerce, the Ministry of Culture (and its cultural antiquity preservation division), the Ministry of Agriculture, the Ministry of Education, the Tourism Administration, the Sports Administration, and Overseas Chinese Affairs Office, the Association of Chinese Mayors, the city/provincial governments of Beijing, Shanghai, Tianjin, Xiamen, Nantong, and Dalian, the provincial governments of Anhui and Liaoning Province, and leading Chinese companies as Air China, China Southern Airline, Jian Nan Chun (one of China's leading liquor manufacturers), Chery Automobiles (one of China's leading automobile manufacturers), the Chinese Basketball Association, and Nike China. Many of these relationships of Wang will help TPID's ongoing initiatives in China related to such applications as sports tickets, agricultural products, auto parts, aviation parts, liquor bottles, and sports apparel, all of which have recently faced challenges related to counterfeiting and quality assurance and safety.
Fluent in Chinese and English, Wang obtained his undergraduate degree from the Foreign Language Department at Guangxi Normal University in Guilin, China. Upon moving to the U.S. and becoming a U.S. citizen in the 1980s, Wang earned a Master's degree from the New School for Social Research. With university degrees from schools located in China and the U.S., Wang is asked by leading universities in the U.S. and China to facilitate academic exchanges, including MBA, LLM and training/certification programs at U.S. universities, for Chinese Government officials, judges and executives.
Nice little uptick today.
Wu: Exports face more technical barriers
+ - 08:39, January 04, 2008
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Chinese exports will face more technical barriers in the form of rising quality standards as the country's trade surplus continues to rise, Vice-Premier Wu Yi warned yesterday.
Figures from the Ministry of Commerce released yesterday show that foreign trade volume hit $2.2 trillion last year, up 25 percent year-on-year. Exports also increased by a fourth.
Wu did not disclose how much the full-year surplus was, but the ministry earlier forecast that it would hit $250 billion, compared with $177 billion for 2006.
Wu said the swelling trade surplus had triggered conflicts with other countries and set up barriers for Chinese exports.
"In particular, there's a tendency in international trade protectionism for product quality issues being increasingly used as technical barriers," Wu told a national conference on quality supervision, inspection and quarantine in Beijing.
The Japanese Positive List System that took effect in May 2006 was a case in point, she said. The system places stringent requirements on drug residues in agricultural products.
The implementation of the system caused an immediate drop in exports of Chinese agricultural products. Ministry figures show that exports of agricultural products to Japan in June 2006 were $596 million, a drop of $131 million, or 18 percent, from the same period in 2005.
Official figures show that about three in 10 Chinese export firms suffered as a result of foreign technical trade regulations in 2006, with direct losses of $36 billion.
Wu said that such cases would grow and technical barriers in the form of product quality standards would last for a long time.
Li Changjiang, head of the General Administration of Quality Supervision, Inspection and Quarantine, also warned that exports would encounter increasing technical barriers among major trading partners like the United States and the European Union in the coming years because of strict new rules on energy use and chemical content in those markets.
Li said most technical standards are adopted to protect human safety, animal and plant health, and the environment. However, there is a risk that some countries could use technical regulations and standards to protect domestic industries.
BEIJING, Nov. 26 (Xinhua) -- Chinese Vice Premier Wu Yi said here on Monday that international food safety issues should be settled through friendly consultation, instead of finger pointing and groundless blames.
Speaking at the High-Level International Food Safety Forum, she recognized that gaps existed between China and the "advanced level" of food safety monitoring around the world and called for international cooperation in this regard.
"I sincerely hope that developed countries can provide more help to developing countries to raise their standardization level, improve food production technology and strengthen food safety supervision," she said.
"We disagree with biased, incomplete reports and pure condemnation that are blind to the facts, and are opposed to setting trade barriers under pretext of food safety issues and politicizing the issues."
Wu said that food safety was a highest priority of the Chinese government and the country's efforts to improve food quality was paying off.
"The Chinese government, wholehearted in protecting the people's interests, is trying to guarantee adequate supply of food and to improve food quality.
"This year, the government has taken unprecedented special action to ensure product quality and food safety," she said, adding China aimed to set up "a monitoring network" to cover the whole society and the entire process of food manufacturing and selling.
She added that through years of efforts, China had also formed complete legal and standard systems in food safety.
China's food exports have remained more than 99 percent qualified for years, said Li Changjiang, director of the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ), at the same forum attended by Vice Premier Wu.
In the first half of the year, 99.1 percent of the Chinese food exported to the United States and 99.8 percent of the exports to the European Union were up to standard, Li said.
Li also cited Japanese figures as saying that 99.42 percent of the Chinese food sold to Japan last year were safe, higher than percentages for food imported from the EU and the U.S.
"We have every reason to believe China will make new progress in food safety to further assure and satisfy consumers at home and around the world," Wu said.
Via video, WHO Director-General Margaret Chan gave positive assessment of China's efforts to improve food safety but warned that all countries should be alert to challenges posed by globalization to food safety, such as increasing incidence of food borne diseases.
China and many other countries have made great progress in improving food safety and increasing international competitiveness of their products, FAO official Yasuo Endo said on behalf of the FAO Director-General. But faced with the new challenges, the efforts should be stepped up, he said.
The High-Level International Food Safety Forum is co-hosted by China's General Administration of Quality Supervision, Inspection and Quarantine, Chinese Ministry of Health and the World Health Organization.
http://www.china-embassy.org/eng/gyzg/t384451.htm
Vice-Premier Wu Yi left Beijing on April 3 as the head of the Chinese government delegation to the United States.
She will co-chair the 17th meeting of the Sino-U.S. Joint Commission on Commerce and Trade (JCCT) in Washington with U.S. Secretary of Commerce Carlos Gutierrez and Trade Representative Rob Portman.
Li Changjiang, Minister of the General Administration of Quality Supervision, Inspection and Quarantine, is a member of the delegation.
Chinese Vice Premier Wu Yi meets U.S. House speaker
Chinese Vice Premier Wu Yi met Wednesday in Washington with U.S. House Speaker Nancy Pelosi and senior members of the House of Representatives.
Wu said China-U.S. relationship is one of the most important bilateral relations in today's world. It has maintained a good momentum over the past several years thanks to the joint efforts of both sides as cooperation in a variety of areas keeps moving forward.
It would serve the fundamental interests of the two peoples if China and the U.S. keep enhancing their mutual trust and cooperation, said Wu, who is here attending the second meeting of the Strategic Economic Dialogue that wrapped up Wednesday.
As China-U.S. trade and economic cooperation continues moving forward at a fast pace, it would be inevitable that trade disputes and disagreement appear, she said. In that case, she added, the two sides should handle them through dialogue and negotiations.
"We should take care of the other party's concerns, and bear in mind the principle of development, equality and mutual benefit," said Wu.
The Chinese vice premier noted the exchange between the House of Representatives and China's National People's Congress, saying China hopes the U.S. legislature would become a driving force behind the China-U.S. friendship.
Pelosi and the senior House members agreed that U.S.-China relations mean much to the two countries and the world, and that the two countries share common interests in international security and stability.
The two countries should seek a bright future whatever disputes might arise, and open a broad future in the areas of economy, culture and foreign policy, said the U.S. House speaker and members.
They said the two sides should increase communication in an open and honest way for better understanding.
In addition, they wish the Beijing Olympic Games a success and that the event would strengthen the friendship among world athletes as well as people of different countries.
The two sides also exchanged views on China-U.S. trade, the protection of intellectual property rights and the issue of Darfur in Sudan.
China Sees Progress in Quality Drive
Monday January 7, 8:33 am ET
By Audra Ang, Associated Press Writer
China Efforts Against Shoddy and Unsafe Products Make Progress, but Will It Last?
BEIJING (AP) -- Last August, the Chinese government unleashed its most extensive campaign since the 2002-03 outbreak of SARS, the mysterious killer disease. The goal: to shore up China's battered reputation as a manufacturer of quality goods.
As the four-month initiative -- part crackdown, part public relations drive -- ended in December, experts say China has taken significant steps toward addressing product quality and safety problems. But they also note the risk of backsliding in a country with a convoluted bureaucracy and a well-documented history of local leaders ignoring edicts from the top.
"The events of the past six or so months do represent a watershed," said Robert Kapp, a business consultant who headed the U.S. China Business Council from 1994 to 2004. "But watersheds are not always forever."
"The problem may be very systematic by now, and I don't know if the Chinese will overcome it," he added.
While the high-profile campaign is over, the government is continuing work on several fronts, including developing China's first-ever food safety law.
The country's reputation as an export power took a beating last year. In March, dog and cat deaths in North America were linked to a Chinese-made pet food ingredient. Then came reports of potentially dangerous frozen fish, juice, tires and toothpaste. Millions of toys were recalled in several countries over lead paint and other fears.
The crisis put China's position as the world's factory at risk, threatening the underpinning of its economic success and the jobs that are lifting millions of Chinese out of poverty.
The furor also brought China's long-running domestic food safety problems to light, just as Beijing prepares to host hundreds of thousands of foreign visitors at the Summer Olympics in August.
The seriousness with which the government took the issue was underscored by the appointment of its top problem solver, Vice Premier Wu Yi, to head a Cabinet-level panel overseeing the campaign.
Wu, a stern-looking 69-year-old known as the "Iron Lady," shepherded China's difficult entry into the World Trade Organization, took over as health minister during the SARS epidemic and has been tasked with handling the vociferous U.S. complaints about China's exchange rate policy.
One month into the product safety campaign, Wu herself set out to randomly inspect shops and restaurants in the eastern province of Zhejiang. She had no itinerary and told no one in advance, making the driver stop at her whim.
In the sticky September heat, Wu examined business licenses and employee health certificates at a two-table dumpling eatery, scrutinizing the kitchen and refrigerator to see if ingredients were fresh. She gave it her seal of approval.
At her next stop, she condemned a chain restaurant for not having the required employee health certificates.
A senior official who accompanied Wu described the trip to foreign reporters in October as part of the public relations effort.
"If China's leaders pay this much attention to the quality of products ... we can achieve the goals we are trying to reach by the end of the year," Li Changjiang told the journalists.
Wu declared the campaign a "special war to uphold the health, life and interests of the people and uphold the reputation of Chinese products and its national image."
Thousands of unlicensed manufacturers were shut down. Teams of inspectors were dispatched, and labels showing that the quality of export food products had been checked became mandatory.
Rigorous inspections delayed toy shipments. "Many of our shipping containers were stuck from the end of August to the end of September, even until the beginning of October," said Yu Linhan, a sales representative for Zhejiang Ruyi Industry Co., which makes brightly painted wooden figurines sold in Europe.
State television broadcast a weeklong series defending Chinese goods; the inaugural 90-minute program was titled "Believe in Made in China."
The food safety law would tighten import and export standards; require product labels that include ingredients, additives and expiration dates; and call for the establishment of a food recall system, according to the official Xinhua News Agency.
Producers and dealers of food containing banned or dangerous substances would be "severely punished" under the proposed law, Xinhua said. Likewise for food safety officials who fail to do their jobs. No details on the proposed punishments have been disclosed.
The government has also engaged Western experts in crisis management. In September, Ogilvy Public Relations Worldwide trained 100 representatives from provincial offices of the State Food and Drug Administration. At the height of the scandals in July, the former head of the agency was executed for taking bribes to approve substandard medicines.
"There's an evolution taking place," said Scott Kronick, president of Ogilvy's China operations. "I've seen a marked change in their ... openness for advice."
At the training, Kronick hammered home the need to be prepared and open to questions, showing participants editorial cartoons and press clippings to illustrate how the world perceives China.
"They recognize that not everything has to be rosy," he said. "They're getting more comfortable with not having all good news to report."
One of the biggest challenges China faces is getting local authorities to enforce regulations amid shortages of technical equipment and manpower, said Helen H. Jensen, an economics professor at Iowa State University.
China also lacks traditional consumer watchdogs such as a free media and independent civic groups.
Julie Livingston of the New York-based Toy Industry Association, which represents about 500 toy companies, said the jury is still out.
"The damage done to the reputation of toys made in China has been immense and it will take time to turn around," she said. "It will require a continuous effort by the Chinese government, and by the toy industries in both countries, to rescue China's tattered toy reputation."
Thank you Jim, so I have 15k shares worth $420. Not much of a consolation for how much I lost on these crooks, live and learn.
Thanks
I had wrote this off a long time ago but was just curious about the gemm dividend we got. I have 15000 restricted shares of ac energy in my account, are those the old gemm shares? Also the restricted shares that show in my account, would those be pre 350-1 r/s or post split?
I would appreciate a factual answer if that is possible. Anyone care to comment with some info that may be helpfull. Thanks
Can anyone fill me in on what ever happened with Gemm jmgc. I have some restricted shares of ac energy in my account, are those the old gemm shares? Also the amount of restricted shares that show in my account, would those be pre 350-1 r/s or the correct amount of shares after the split?
Can anyone explain the class action law suite for $2,575,000 for shareholders that owned the between Feb 6 2001 and April 27th 2004. I don't even remember owning this at that time but they want me to fill out paperwork to get my share of the settlement. Was this under another ticker symbol then? Any info would be appreciated.
I was once and still am sold on the product, however Mackay and Cimino seem lately to be the kind of people that use penny stock schemes to line their own pockets and basicly print money while the shareholders suffer. Maybe just Maybe by some fluke, they have stumbled across a product that will take off despite and regardless of their original intentions. Maybe they will make a mistake and actually make money for themself and the shareholders the old fashion way - a good product and a few large contracts. What a concept!
Whoknows, Whocares, WhattheF, I'm stuck with a 20k loss on these guys too, even after all the dd that I did a couple years ago.
What I'm hoping is that this product will take off in China regardless of once being pretty much another penny stock scheme.
Even blind squirrls find the acorn sometimes!
Happy New Year
TPDI has not done it's run yet. It is a different company than it was a couple years ago. They now own 100% of the Chinese JV and if just one huge contract and it appears that they have some huge government contracts in the works. When revenues start coming in, the r/s will not matter and if they post huge revenues prior to the r/s and this goes back up to .18 then we would have an $18 stock. Also I don;t think you would see the typical fall in shareprice post split because of the revenues, especially if it is a 1.3 billion dollar contract.
The seminar was attended by leaders and enterprises from Beijing, Shanghai, Guangdong, Hubei, Zhejiang and Liaoning Provinces, all of whom agreed with AQSIQ’s endorsement of TPID’s technology and provided comments on implementation."
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On May 11, 2007 the Registrant entered into an acquisition agreement (the "Acquisition Agreement") with Sichuan Valencia Trading Limited ("SVTL"), a Chinese limited liability company duly organized under Chinese law. A copy of the Acquisition Agreement is attached hereto as Exhibit 10.1. The reader is advised to review the agreement in its entirety.
Immediately prior to the execution of the Acquisition Agreement, SVTL owned 20% of the total interests, rights, assets, shares, and/or other ownership interests of True Product ID Technology (Beijing) Limited, formerly known as Sure Trace Technology (Beijing) Limited (the "Chinese JV Company"), a Chinese technology limited liability corporation duly formed and organized under Chinese law (the "SVTL 20% Chinese JV Interest"). Under the Acquisition Agreement, SVTL sold to the Registrant the STVL 20% Chinese JV Interest in return for 100 million restricted common shares of the Registrant. As set forth in more detail in the Acquisition Agreement and prior SEC filings, the 100 million shares was less than 50% of the approximately 209 million shares provided as a dividend to shareholders of TPID US' former parent, Sure Trace Security Corporation, which resulted in TPID US' being a separate independent entity entitled to receive approximately 42.5% of the revenues of the Chinese JV Company. With its January 2007 acquisition of 40% of the Chinese JV Company and the acquisition of the SVTL 20% Chinese JV Interest, the Registrant now owns 60% of the total ownership interests of the Chinese JV Company, allowing the Registrant to, among other things, recognize 100% of the revenues of the Chinese JV Company in accordance with applicable consolidation, revenue recognition, accounting, and other principles, guidelines and standards.
Under the Acquisition Agreement, SVTL representative, Sergio da Luz, was appointed to the Registrant's Board of Directors, and SVTL agreed to, inter alia, standard non-competition and confidentiality provisions. See Article III of the attached Acquisition Agreement.
I don't see the need for a r/s either, it makes me wonder if they are actually thinking of uplisting or possibly to qualify for a foreign exchange. I surely would like to see them turn this into something good. It all comes down to revenues, some say ssty is due for a pop if they receive income from TPDI, but TPDI will have to show revenue first. How about $100,000,000.
The seminar was attended by leaders and enterprises from Beijing, Shanghai, Guangdong, Hubei, Zhejiang and Liaoning Provinces, all of whom agreed with AQSIQ’s endorsement of TPID’s technology and provided comments on implementation.
The seminar was hosted by the Honorable Huang Xiaohu, Director of AQSIQ’s Credit Committee.
Key points
The meetings followed AQSIQ's government circular and contract with TPID this summer to every province, municipality, and region in China mandating the use of TPID's S-DNA and KMACK technology in AQSIQ's National Special Equipment Safety and Security Initiative.
The Honorable Cui Gang, Deputy Director of AQSIQ's Special Equipment Security Supervision Bureau, addressed the conference.
Earlier in the day, TPID's Chinese joint venture affiliate, TPID Beijing, held seminars at its new offices to discuss implementation of the S-DNA Special Equipment Security Taggant Information Supervision System Project mandated in AQSIQ's Circular.
The seminar was hosted by the Honorable Huang Xiaohu, Director of AQSIQ's Credit Committee.
Mr. Zuo Lie, Vice Manager of TPID Beijing, presented a specific implementation plan for AQSIQ's S-DNA Special Equipment Security Taggant Information Management System and Project.