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Offshore wind leases under study for N.J., Del., Georgia
By Steve Gelsi
Last update: 1:28 p.m. EDT July 25, 2008
NEW YORK (MarketWatch) -- The U.S. Minerals Management Service is moving toward limited leases for data collection and technology testing for offshore wind projects, Pritchard Capital Partners noted on Friday. A total of six sites off New Jersey, one off Delaware and three off Georgia are being proposed for site assessment activities relating to wind resources. MMS will proceed with a noncompetitive leasing process for these sites, Pritchard noted.
From roaring storm fronts to a pleasant evening breeze, the wind lives and breathes in Northern Alberta. A local company is looking to take the wind and turn it into clean power and profits. From a base of operations in Grande Prairie, Golden Sheep Power Inc. is looking to provide wind power solutions to both the household and agricultural sectors.
CEO Drennan Hallett said the initial idea for the company’s name was inspired by their connections to agriculture. “We heard the outcry (of) farmers in this province – they are taxed, they are not getting what they want back for their crops – what better way than to help them to alleviate that problem by providing them with the ability to make their own power?” she said.
With some suggestions from their kids, they settled on Golden Sheep Power Inc., choosing to add a bit of mythological references to the mix. “What better than Jason and the Argonauts, and the Golden Fleece and the creation of wealth and the embracing of agriculture,” said Hallett. “And ... you’ll never forget our name!”
Formed in 2007, Golden Sheep Power is preparing to conduct testing in Grande Prairie, Valleyview and Fairview with the aim of introducing wind power turbine systems to the skylines of the three communities.
The company’s CEO said they hope, by working with municipalities, to get land use bylaws to embrace the resource that the wind provides. The testing is purely visual, to install turbines in places residents aren’t used to seeing them.
“We’re not testing the technology, the technology’s already there,” said Jamie Hallett, Golden Sheep’s chief of operations. “In Europe it’s common to see wind turbines and solar panels everywhere, I guess we’re kind of shy and we haven’t gone and exposed ourselves to it.”
He said the rise of oil prices has little to do with increasing interest in green power generation; rather increasing concern for the environment is motivating interest in wind power.
Power requirements for household generation and agricultural applications can be vastly different, and the equipment ranges from big windmill style turbines to smaller vertical vane units for mounting on the roof of a house.
“A regular household use 750 and 900 kilowatt/hours per month whereas agricultural use could be anywhere from 2,000 hours to 5,000, so the size of the unit will be definitely bigger,” Adrian Smedstad explained. She added agricultural users could be better equipped to sell power back to the grid, as they generate more power.
Changes in policy in Alberta this year has made it easier to sell power, which helps the small generation operations. “It opened the market to the individual,” said the company’s CEO. “Before it was more centered on power producing on a large scale.” She said the ultimate goal is to have people meet their own power needs.
Concern about wind power generally boils down to looks and the availability of wind. The units that could be common in residential neighbourhoods in the future are much smaller than the large wind turbines seen in wind farms in the U.S. and Canada, something that will help with integrating them into city and town skylines, said Smedstad.
The units they sell are vertical, similar in concept to the whirlybirds homeowners place on their roofs, explained Smedstad. Because the blades spin from all directions, they are more suited to wind patterns up north, she said.
“They are more compact, they’re smaller, lower on noise ... (and) much nicer to look at. The other bonus we have with them is they do work well in dirty wind which is turbulent air,” said Smedstad.
She explained a horizontal wind turbine, similar to the units operating in wind farms in Southern Alberta, need to be aimed at prevailing winds, which isn’t as useful when wind comes from all directions.
The idea that there is no wind in Peace Country doesn’t fly with the company.
“They’ve been capturing wind up here since 1918,” said Jamie Hallett. He said the first feasibility study was completed in Grande Prairie in 1983, which said it would be possible. “In ’89 they ran another one and said, ‘Yeah’, but no one wanted to bite at it, in ’96 they did another one,” said Hallett. He argues the will wasn’t strong enough until the provincial government changed the Micro-Generation Policy, in February 2008.
For critics of wind power, the issue of bird kills comes up often, and the company is working with Alberta Fish and Wildlife and Ducks Unlimited to lessen the impact of turbines in the region. According to the Canadian Wind Energy Association’s numbers, bird fatalities in the United States due to turbines amount to 1 in 10,000 while house cats kill 1,060 per 10,000.
In the agricultural sector, the company is looking to offer an option for farm operators looking to use some of the money they spend on monthly power bills to move toward generating more of their own electricity.
The staff of Golden Sheep Power have given presentations to towns, cities, schools and the media to talk to a public interested in wind power. Smedstad said the public outcry around a proposed nuclear power plant near Peace River has increased the public’s interest in green energies.
“Everywhere that we’ve been, we’ve had a lot of questions. That’s what we look for,” she said. “The more information people have, the better choices they’re going to be able to make with the things that are coming up in the future. One of the things we are faced with is the nuclear power plant.”
The three friends feel strongly green solutions can provide power without having to build a costly nuclear power plant. “There is other things people can do other than just to say ‘No’,” said Hallett. He said they feel communities can fulfill their power requirements with solutions outside of the nuclear power industry.
Harnessing the wind isn’t a new idea for Alberta, in fact it’s an old one, said Smedstad. She said her father-in-law told her a story of how his mother used wind power on the farm, in the 1920’s.
“His mother actually had a windmill on her property and she used it for electricity, and this was 80 years ago.” She said their entire family in Alberta used wind mills. “It’s not even new to here, it’s just new to our generation.”
For the future, Golden Sheep Power Inc. are looking to bring green solutions to homes and farms in Northern Alberta who wish to turn on the lights and help the planet. In an era of rising energy costs and increased uncertainty brought on by the Peace River nuclear power plant, they feel it’s time to take another course.
PPA
give us the P
give us the P
give us the A
give us the PPA
go WWEI
AWNE
merging with EWT
Marketing and Sales Company BECD Brings DIRECTWIND Turbines to China
AMSTERDAM, June 25 /PRNewswire/ -- Emergya Wind Technologies NV ('EWT' or 'the Company'), the Dutch wind turbine supplier, announced today that it has established a local marketing and sales company in the People's Republic of China through a joint venture with the Chinese Academy of Launch Technology ('CALT'). CALT is China's largest and most important organization for the research, development and production of launching technologies. CALT has been active as a developer and operator of wind farms in China since many years.
The new company called Beijing EWT-CASC DIRECTWIND Marketing and Sales Co. Ltd. ('BECD') is established to meet the growing demand of the Chinese wind energy market and to contribute to the development and commercialization of clean sources energy in China. The joint venture aims to install over 1000 MW of EWT wind turbine capacity in China over the next five years based on the current EWT portfolio of 750 and 900 KW turbines as well as a 2 MW turbine that is currently being developed and which will become available in 2010.
From BECD's headquarters in Beijing City, the company will hold the exclusive right for the sales, marketing and distribution of EWT's direct drive (gearless) turbines in China under the trade name EWT-CASC DIRECTWIND. Next to offering turnkey wind energy solutions, both parties will set up 2 joint ventures in Inner Mongolia for the assembly of the rotor and nacelle and the manufacturing of the PMC rotorblades. These factories will become operational mid August 2008. Additionally the parties will set up a Beijing-based joint venture which will provide service and maintenance activities.
EWT's advanced direct drive (gearless) technology combines mechanical simplicity with superior systems reliability. This reliable drive solution with a track record of over 200 operational units worldwide, replaces a complex high-speed geared drive train common in most competitor wind turbines.
China installed 3,450 megawatts of wind capacity in 2007, a 156-percent increase over 2006.
China's government stimulates the development of wind power and aims at a total installed capacity of 40.000 MW by the year 2020.
Commenting on the JV Gerry van der Sluys, Chief Executive Officer of EWT said: 'The pressure on the availability of traditional fossil fuels as a source of electricity, as well as the commitment of the Chinese government to renewable energy will cause the wind market in China to grow enormously in the coming years. In CALT we have found a solid and experienced partner with whom we will take advantage of that growth and with whom we will achieve a substantial position in the local market'.
Commenting on the JV Mr Han Shuwang, Vice President of CALT said: ''EWT's technology is the most outstanding currently available in the market. We are proud that we are able to bring the EWT product to China and we are convinced of and committed to making this cooperation to a big success'.
About EWT
EWT is a Dutch wind turbine supplier specialized in the development and the manufacturing of advanced high-quality direct drive (gearless) wind turbines. Our 750 kW and 900 kW models feature a variety of rotor diameters and hub heights. The key assets together formed a strong basis on which EWT commenced commercial operations in February 2004. EWT is determined to become one of the world's leading suppliers of high performance direct drive wind turbines. Key objectives are to offer our customers reliable top quality products with lowest energy generating cost during a twenty-year operational lifetime. This ambition will be met by a combination of market driven product innovation, organic growth, strategic partnerships and acquisitions. EWT regards it an additional challenge to develop and build wind farms on a full-turnkey basis across the globe.
http://www.directwind.nl
Marketing and Sales Company BECD Brings DIRECTWIND Turbines to China
AMSTERDAM, June 25 /PRNewswire/ -- Emergya Wind Technologies NV ('EWT' or 'the Company'), the Dutch wind turbine supplier, announced today that it has established a local marketing and sales company in the People's Republic of China through a joint venture with the Chinese Academy of Launch Technology ('CALT'). CALT is China's largest and most important organization for the research, development and production of launching technologies. CALT has been active as a developer and operator of wind farms in China since many years.
The new company called Beijing EWT-CASC DIRECTWIND Marketing and Sales Co. Ltd. ('BECD') is established to meet the growing demand of the Chinese wind energy market and to contribute to the development and commercialization of clean sources energy in China. The joint venture aims to install over 1000 MW of EWT wind turbine capacity in China over the next five years based on the current EWT portfolio of 750 and 900 KW turbines as well as a 2 MW turbine that is currently being developed and which will become available in 2010.
From BECD's headquarters in Beijing City, the company will hold the exclusive right for the sales, marketing and distribution of EWT's direct drive (gearless) turbines in China under the trade name EWT-CASC DIRECTWIND. Next to offering turnkey wind energy solutions, both parties will set up 2 joint ventures in Inner Mongolia for the assembly of the rotor and nacelle and the manufacturing of the PMC rotorblades. These factories will become operational mid August 2008. Additionally the parties will set up a Beijing-based joint venture which will provide service and maintenance activities.
EWT's advanced direct drive (gearless) technology combines mechanical simplicity with superior systems reliability. This reliable drive solution with a track record of over 200 operational units worldwide, replaces a complex high-speed geared drive train common in most competitor wind turbines.
China installed 3,450 megawatts of wind capacity in 2007, a 156-percent increase over 2006.
China's government stimulates the development of wind power and aims at a total installed capacity of 40.000 MW by the year 2020.
Commenting on the JV Gerry van der Sluys, Chief Executive Officer of EWT said: 'The pressure on the availability of traditional fossil fuels as a source of electricity, as well as the commitment of the Chinese government to renewable energy will cause the wind market in China to grow enormously in the coming years. In CALT we have found a solid and experienced partner with whom we will take advantage of that growth and with whom we will achieve a substantial position in the local market'.
Commenting on the JV Mr Han Shuwang, Vice President of CALT said: ''EWT's technology is the most outstanding currently available in the market. We are proud that we are able to bring the EWT product to China and we are convinced of and committed to making this cooperation to a big success'.
About EWT
EWT is a Dutch wind turbine supplier specialized in the development and the manufacturing of advanced high-quality direct drive (gearless) wind turbines. Our 750 kW and 900 kW models feature a variety of rotor diameters and hub heights. The key assets together formed a strong basis on which EWT commenced commercial operations in February 2004. EWT is determined to become one of the world's leading suppliers of high performance direct drive wind turbines. Key objectives are to offer our customers reliable top quality products with lowest energy generating cost during a twenty-year operational lifetime. This ambition will be met by a combination of market driven product innovation, organic growth, strategic partnerships and acquisitions. EWT regards it an additional challenge to develop and build wind farms on a full-turnkey basis across the globe.
http://www.directwind.nl
wind energy stocks WWEI MMGW
By ERIC TORBENSON / The Dallas Morning News
etorbenson@dallasnews
The Texas Public Utility Commission Thursday approved $4.93 billion in new power transmission lines to bring cheap wind power from West Texas to consumers in north and central areas of the state.
The commission chose the middle option of five scenarios to build a new grid of transmission lines. The move will add more wind megawatts to Texas than the next 14 wind-producing states combined, noted commission Paul Hudson.
By ERIC TORBENSON / The Dallas Morning News
etorbenson@dallasnews
The Texas Public Utility Commission Thursday approved $4.93 billion in new power transmission lines to bring cheap wind power from West Texas to consumers in north and central areas of the state.
The commission chose the middle option of five scenarios to build a new grid of transmission lines. The move will add more wind megawatts to Texas than the next 14 wind-producing states combined, noted commission Paul Hudson.
By ERIC TORBENSON / The Dallas Morning News
etorbenson@dallasnews
The Texas Public Utility Commission Thursday approved $4.93 billion in new power transmission lines to bring cheap wind power from West Texas to consumers in north and central areas of the state.
The commission chose the middle option of five scenarios to build a new grid of transmission lines. The move will add more wind megawatts to Texas than the next 14 wind-producing states combined, noted commission Paul Hudson.
news must be forthcoming
increeased price and volume
ANYTIME NOW..... PPA .... WWEI
Zhanjiang update -- Next week, company officials will be going to Zhanjiang to approve the layout of Phase I of the wind farm in order to start construction of the trunk roads, foundations and collector system. The project will require the installation of more met towers to accommodate the expansion of the project beyond 49 MW. Welwind officials will be meeting with Government officials to finalize the PPA next week
oh my
my FNM and FRE are making me moneys
Cramer said .... natural gasssssssssssssssss
where is the PPA
Cleveland-Cliffs to Buy Alpha Natural for $10 Billion (Update3)
By Dale Crofts
July 16 (Bloomberg) -- Cleveland-Cliffs Inc., North America's largest producer of iron-ore pellets, agreed to buy coal-mining company Alpha Natural Resources Inc. for $10 billion as demand for materials used in steelmaking surges.
oil will go back up
this is why IMO
other than Bertha, there are two Low pressure areas developing close to US, one is right in the Gulf of Mexico
http://www.nhc.noaa.gov/
oil will go back up
this is why IMO
other than Bertha, there are two Low pressure areas developing close to US, one is right in the Gulf of Mexico
http://www.nhc.noaa.gov/
OIL will go back up
this is why IMO
other than Bertha, there are two Low Pressure Areas developing close to US, one is right in the Gulf of Mexico
http://www.nhc.noaa.gov/
PPA soon
go WWEI
Updated WWEI report
Ludlow China Updates Research Opinion on Welwind Energy International Corp.
Last Updated: July 14, 2008 - 7:23pm EST
SAN DIEGO, July 14, 2008 (PRIME NEWSWIRE) -- Ludlow China Ventures, Inc. maintains its research opinion on Welwind Energy International Corp. (OTC BB:WWEI), a producer and operator of wind farms in China, with a 'speculative' B+ rating, and near term price target of $0.60 per share.
COVERAGE SUMMARY
Mark Blackwell, alternative energy research analyst with Ludlow Energy Ventures commented, "The recent approval of applications made to the Military and the Guangdong Provincial Oceans and Fisheries Bureau should now open the door for the company to finalize a power purchase agreement (PPA) with the Chinese government. Once issued, this will now open the company to further PPA agreements as the Chinese government pushes for more ‘green’ energy solutions in the PRC. The company is expected to meet with government officials in Zhanjiang to finalize a power purchase agreement (PPA) sometime this week. For now, all eyes look to the wires for updates on a finalized PPA agreement from China."
"Ludlow China has learned the new PPA could be valued at $90 million, and with just under 160 million shares outstanding, this would give WWEI a valuation of $0.60 per share, or a market cap of $96 million."
Ludlow China Ventures is maintaining its 'speculative' B+ rating and near-term price target of $0.60-$0.70 per share."
http://www.ludlowchina.com/reports/wwei.htm
where is the proxy filing
recent website updates
http://www.welwind.com/current_projects-zhanjiang.php
150000 x $114 = $17.1M per monthh
PATERSON, N.J, April 8, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTC BB:QMNM.OB - News) (Frankfurt:QMNB.F - News), a Kentucky based operator of energy and mineral related properties, announced today that a group in New Delhi, India has made a contingent offer to purchase up to 150,000 tons per month of metallurgical coal from the company at $114 per ton.
any SEC filing yet
$194 x 12,999,000 = $2.56B
According to GlobalCoal.com, the weekly index for power-station coal priced at the port in New South Wales (Australia) gained $22.69 to $194.79 per metric ton in the week ended July 4 for a record 6th week of increases.
Gwenco currently leases over 600 acres of coal mines that have approximately 12,999,000 tons of coal; 9,000,000 of which are proven reserves.
all this time since 2004 when Quest acquires Gwenco, they have been trying to start coal production... until yesterday when it finally happened.
coupled with high coal prices, QNMN has to nowhere to go but UP
any filings yet
The Company will hold its annual meeting during the middle of next month to vote to amend the articles of incorporation. The company plans to file a preliminary proxy statement by the end of this week. As of the date of this announcement, there are 250,000,000 shares issued and outstanding in Universal Energy Corp.
WWEI
Get in now before next week
Zhanjiang update -- Next week, company officials will be going to Zhanjiang to approve the layout of Phase I of the wind farm in order to start construction of the trunk roads, foundations and collector system. The project will require the installation of more met towers to accommodate the expansion of the project beyond 49 MW. Welwind officials will be meeting with Government officials to finalize the PPA next week.
WWEI
Get in now before next week
Zhanjiang update -- Next week, company officials will be going to Zhanjiang to approve the layout of Phase I of the wind farm in order to start construction of the trunk roads, foundations and collector system. The project will require the installation of more met towers to accommodate the expansion of the project beyond 49 MW. Welwind officials will be meeting with Government officials to finalize the PPA next week.
WWEI
Get in now before next week
Zhanjiang update -- Next week, company officials will be going to Zhanjiang to approve the layout of Phase I of the wind farm in order to start construction of the trunk roads, foundations and collector system. The project will require the installation of more met towers to accommodate the expansion of the project beyond 49 MW. Welwind officials will be meeting with Government officials to finalize the PPA next week.
AVina's stock picks
WWEI UVSE HTOG UPDV CBPC QMNM
so QUEST via Gwenco has been telling us about initiating coal production since 2004...
and it finally happened YESTERDAY at skyhigh coal prices
Re Gwenco's Bankruptcy-Gwenco is QMNM's wholly owned sub
The BK spells out what must happen for Gwenco to come out of BK and QMNM to stay in business. From the BK filing: “The following chart represents the estimated cost of operations for Gwenco: [All costs are per ton] Mining Cost White Star Mining LLC (includes labor and supplies) $32.00 Trucking and handling $5.00 Reclamation & Maintenance $0.10 Insurance GL and Equip $0.15 Estimated maximum royalties (8%) $6.96 Electric $0.70 Belt & Structure / Infrastructure $3.00 Admin / Bk / Accountant / Lawyer $2.00 Federal Black lung $1.10 Ky Severence $3.91 OSM $0.15 Engineering $0.50 Operating reserve $2.43 Total Cost $58.00 Any sales price of approximately $70.00 or above per clean ton provides the means for performing the plan. Current market prices suggest sales prices of at least $70.00 or more for the Pond Creek Seam coal per ton for the foreseeable future.”
Sentiment : Strong Buy
http://joegoog23.blogspot.com/2008/07/re-gwencos-bankruptcy-gwenco-is-qmnms.html
QMNM even has India as buyers
Quest Minerals & Mining Reveals Opportunity for Global Expansion
Tuesday April 8, 7:12 am ET
PATERSON, N.J, April 8, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTC BB:QMNM.OB - News) (Frankfurt:QMNB.F - News), a Kentucky based operator of energy and mineral related properties, announced today that a group in New Delhi, India has made a contingent offer to purchase up to 150,000 tons per month of metallurgical coal from the company at $114 per ton.
EVEN BEFORE TODAY WE GOT $8M ORDERS ALREADY
Quest Minerals & Mining Receives Purchase Order for Up to $8 Million of Coal At Pond Creek Location
Tuesday April 1, 6:00 am ET
PATERSON, N.J., April 1, 2008 (PRIME NEWSWIRE) -- Quest Minerals & Mining Corp. (OTC BB:QMNM.OB - News) (Frankfurt:QMNB.F - News), a Kentucky based operator of energy and mineral related properties, announced today that its wholly owned subsidiary, Gwenco, Inc., has received a large purchase order for up to $8 million of coal through December 2008 from Logan & Kanawha Co., LLC., a West Virginia company
WAS THIS EVER THE FIRST TIME THAT THEY STARTED COAL PRODUCTION
BILLIONSSSSSSSSSSS
QMNM
Coal Reserves
Quest estimates that, as of December 31, 2006, it has total recoverable reserves of approximately twelve million tons consisting of both proven and probable reserves. "Reserves" is that part of a mineral deposit, which could be economically and legally extracted or produced at the time of the reserve determination. "Recoverable" reserves mean coal that is economically recoverable using existing equipment and methods under federal and state laws currently in effect. Approximately nine million tons of Quest's reserves are classified as proven reserves. None of Quest's reserves are classified as probable reserves. The degree of assurance, although lower than that for proven (measured) reserves, is high enough to assume continuity between points of observation.
13 million Tons @ $300/Ton = $3.9 Billion Assets
Coal Reserves
Quest estimates that, as of December 31, 2006, it has total recoverable reserves of approximately twelve million tons consisting of both proven and probable reserves. "Reserves" is that part of a mineral deposit, which could be economically and legally extracted or produced at the time of the reserve determination. "Recoverable" reserves mean coal that is economically recoverable using existing equipment and methods under federal and state laws currently in effect. Approximately nine million tons of Quest's reserves are classified as proven reserves. None of Quest's reserves are classified as probable reserves. The degree of assurance, although lower than that for proven (measured) reserves, is high enough to assume continuity between points of observation.
13 million Tons @ $300/Ton = $3.9 Billion Assets
2000 x $200 = $400,000 per day
According to GlobalCoal.com, the weekly index for power-station coal priced at the port in New South Wales (Australia) gained $22.69 to $194.79 per metric ton in the week ended July 4 for a record 6th week of increases.
The Pond Creek location is expected to be in full production mode within the next few weeks. Management aspires to then shift strategic focus towards bringing its Cedar Grove mine online.
Everett Hampton, President of Whitestar Mining, LLC stated, ``I am pleased to announce that coal is now being mined at our Pond Creek location. Once full production is achieved, we anticipate to mine approximately 1,500 - 2,000 raw tons of coal per day. In addition, we expect very similar output from our Cedar Grove property once it is brought online.''
BUSINESS OVERVIEW
The Company is a distributor of human vaccines and other biopharmaceutical products. Currently, the Company distributes the products in China. The Company has established its distribution network in China through the acquisition of its interest in its subsidiary, Hainan CITIC Bio-pharmaceutical Development Co., Ltd. (“HCBD”) and, through its joint venture with Zhejiang Tianyuan Bio-pharmaceutical Co., Ltd. (“Zhejiang Tianyuan”)
The emphasis of the Company is on the introduction and the marketing and distribution of products rather than on manufacturing. Substantially all of the operations are in China.
Over the past year the vaccine business has become more competitive. In addition, in July 2007 the former head of China's State Food and Drug Administration (“SFDA”), was executed by shooting for taking bribes from various firms in exchange for state licenses. The SFDA is currently reviewing all licenses granted over the last 8 years and there is a large backlog over the issuance of new licenses. In order to improve our operating performance and cope with this changing environment, the Company has changed its business strategy and formulated a new business plan to conserve cash, lower expenses and increase profitability. Beginning in 2007 it started to distribute a few specialty drug products, such as Serrapeptase. The Company plans to take more control on the available cash in the subsidiaries and move into areas with higher market potential and higher margin specialty pharmaceutical products.
9
--------------------------------------------------------------------------------
Move Away from the Low Margin Vaccine Business
The Company has planned to move away from the low margin vaccine business and focus on higher margin vaccine and specialty drugs. Due to the recent changes in vaccine sectors, more and more vaccine manufacturers have entered the low margin vaccine business such as distribution of flu vaccine, which has created severe competition among, and squeezed the profit margin of the vaccine distributors. To avoid this direct competition, the Company started to negotiate with a few global vaccine manufacturers for carrying their higher margin products. The Company cannot assure you that it be successful in entering into an agreement.
Commence Distribution of Specialty Pharmaceutical Products
In February the Company began distributing on a trial basis certain specialty pharmaceutical products of Takeda Pharmaceutical Company, Ltd. (“Takeda”), the largest pharmaceutical company in Japan. Takeda specializes in the research and development of breakthrough drugs, and has marketing operations throughout U.S., Europe, and Asia. In Japan, Takeda has also built a strong presence in the over-the-counter (OTC) drugs market, and holds the second largest share of that domestic market.
After distributing its products for about ten months on a trial basis, both parties have agreed to continue this relationship and the Company intends to commit more resources and increase its ability to distribute Takeda’s products. Currently the Company has an agreement to distribute Serrapeptase tablets manufactured by Takeda.
Antiviral Products
In October 2007 the Company began working with Soonfast Pharmaceutical Science & Technology Co., Ltd. (“Soonfast”) to introduce a new antiviral medicine to the overseas market (including the United States and other overseas markets). This all-natural product has been approved in China for external use to treat human papillomavirus (“HPV”) and herpes simplex virus (“HSV”). The commercial product was released in November 2007, and the Company will begin to distribute this product in certain regions in China and has the right to distribute it in all overseas markets, including the United States.
Take Closer Control on Subsidiaries
The Company is working to take direct control of our subsidiaries’ operations and financial management instead of relying on its joint venture partner’s performance. Recently the Company reached agreement with its joint venture partner to increase shareholding in the joint venture in China, Zhejiang Tianyuan Biotech Co., Ltd., and eventually to have 100% control and ownership in this joint venture and its subsidiary, HCBD. The Company plans to change its name to Zhejiang Baicon Pharmaceutical Co., Ltd. The Company does not need to raise additional capital to complete this transaction. It is expected that this will help to preserve the available cash, increase operating stability, provide the Company with more operation flexibility, and improve its current performance