Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The way it looks, LTUS had about $55 million in assets on the books for the property it sold and about $14 million in liabilities for that property. If no cash exchanged hands, LTUS lost about $41 million in the deal. Does anyone see it differently?
I listened to the rebroadcast of the conference. Could not understand much of what was said.
Did anyone participate in the conference call? Anything new? Will LTUS give those who did not participate an opportunity to hear the discussion at a later date? Thanks.
We are due for the next quarterly report any day now. Anyone heard anything?
Are there any updates on the progress of the office building?
CTX Virtual Technologies, Inc. Enters Joint Venture Discussions With Beijing Broadcast Co. to Provide Telematics Products
Published: September 26, 2011 6:00 AM
By The Associated Press
BOCA RATON, Fla. - --(BUSINESS WIRE)--Sep. 26, 2011-- CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (Pinksheets: CTXV - News), announced today that its subsidiary Kaibida International Limited has begun discussions with Beijing Broadcast Co. to develop and market telematics products for Beijing Broadcast subscribers.
Clifford M. Rhee, CEO, stated, "This is a significant opportunity for the company to enhance our automotive related projection technology with a major broadcaster who carries a significant number of subscribers.”
Telematics is a multi-smart platform of interactive information downloaded on a vehicle device which is supported by a background service. Telematics system is integrated technology of GPS (Global Positioning System) and GSM (Global System for Mobile) to be used as a navigational system and to locate or rescue a lost or stolen vehicle. Kaibida and Beijing Traffic Broadcast (as BTB) look forward to working together on this joint venture which allows the Telematics system to provide interactive information on-line, utilizing the monopolizing role of traffic broadcast by BTB. This service is trending up along with the rapidly increasing number of vehicles in China. Currently, Beijing Broadcast Co. has 85% audience penetration in the Beijing area with over 6 million vehicles.
Telematica Main service:
1. Driving assistant: A special unique logo or virtual secretary will be displayed on the windshield to remind the driver of information he should focus on.
2. Information on-line: This service is similar to QQ or MSN displayed on the windshield which is interactive information between the driver and the background base over the internet through 3G mobile technology.
3. 3D Navigation: Is a real time 3D road display on the windshield reporting road situations by a DAB (Digital Audio Broadcast) system from time to time. When the vehicle speed reaches 60km per hour, the navigation display automatically changes to a virtual road map.
4. Background Service: Background Service of BTB has grown to over 100,000 driver club members since established two years ago. Through the DAB and 3G communication system we can provide remote help anytime the member experiences a problem.
5. Internet Connection: We can provide mobile internet connection service through the 3G communication system with preferential pricing provide by a contracted mobile signal carrier.
6. Night Vision safety: This is an optional item designed in the system for detecting and identifying object in the road utilizing night vision sensors providing the driver with additional safety while driving at night.
7. Drivers club on-line: This service focus on real-time dialogue between multiple drivers connected together through the 3G communication system with preferential pricing provide by a contracted mobile signal carrier.
8. Telematic Device: The Telematic device with GPS, HUD and DAB functions will be integrated with a Smartphone via Bluetooth connection.
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements - The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX’s expectations, should be considered as forward looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
CONTACT: CTX Virtual Technologies, Inc.
Clifford Rhee, 561-962-2835
info@ctxtechnologies.com
KEYWORD: UNITED STATES NORTH AMERICA FLORIDA
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS TELECOMMUNICATIONS MOBILE/WIRELESS
SOURCE: CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc. (Pink Sheets: CTXV) a technology company that manufactures and distributes mobile telecommunication, IT data management, virtual imaging and mobile data input accessories today released its audited annual financial results for the year ending December 2010 and 2 nd quarter ending June, 2011.
For the year ending December 31, 2010, CTX reported consolidated revenue of $34.3 million with a gross profit of $6.2 million. After one time Non-operating expenses of $9.2 million relating to research and development, investment banking cost and present value of stock issuance, CTX had a net loss of $6.4 million or $(1.8) per basic and diluted share.
For the 2 nd quarter ending June 30, 2011, CTX reported consolidated revenue of $22.4 million with gross profit of $4.1 million. Accounting for the reversal of charges relating to the stock issuance valuation, CTX accrued a net profit of $5.6 million or $1.5 per basic and diluted shares.
Clifford M. Rhee, CEO, stated, “With the completion by BDO of our financial audit for 2010, we are poised to elevate the company to the next level and execute on a number of strategic business and corporate objectives for 2011 and beyond.”
“The completion of our audited financials has been long awaited but finally we are at a strategic position to file our application to uplist our stock which in turn we hope will enhance and maximize shareholder value,” said Jerry Feldman, Chairman of the Board of CTX.
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
Good earnings for Quarter ended 6-30-11:
https://research.scottrade.com/qnr/Stocks/GetPDF?docKey=137-000114420411049549-22QBKPPUSEBA18VS5I1KFPPNAS&docFormat=TXT&formType=10-Q
On paper this has to be the best buy in the market today. At a price of .49 cents, that gives you a PE ratio of 1.1 to 1. One would expect that earnings will rise significantly once the new office building is completed. Currently, the market cap at .49 is $13 million and the Stockholders Equity is $97 million. I realize that this is a China Company and many have been burnt in China stocks. However, Lotus financials have been audited. How far off can they be? Does anyone know of another company with earnings, a PE ratio of 1.1 to 1, and selling for 1/7th of its Stockholders Equity?
August 01, 2011
CTX Virtual Technologies Amends Three-Year, $60 Million Purchase Agreement with TGE Group
By Sujata Garud
TMCnet Contributor
Share
0digg
A virtual telecommunications technology company, CTX Virtual Technologies, Inc., announced that certain product selections have been amended for a previously announced volume purchase agreement with TGE Group. TGE Group, a leading electronics provider of multi-functional digital multimedia devices for worldwide OEM/ODM customers, provides products for a number of global consumer electronics companies.
According to the amendment, the products referencing the evoMouse and CL-850 virtual keyboards and added the next generation CTX VK-200, MiSEETX Micro computer and Integrated Chip for the Tablet PC have been removed. Apart from this amendment, the other terms of the contract remain unchanged. TGE has formally agreed to purchase from CTX, in the three-year duration and the CTX have agreed to sell to TGE, with units of their products having an aggregate purchase price of $60 million (or an aggregate of two million product units).
CTX Virtual Technologies was recently in news when it announced that it has reached a development project agreement to showcase, private label and distribute the new MiSeeTX mini-computer worldwide. The agreement is structured as a royalty payment to CTX for up to 15 percent of worldwide sales with potential royalty income to the company of up to $16 million dollars. CTX will receive a $760,000 payment for non-reoccurring engineering charges, thereafter the technology company will also assume all costs for ramp-up and manufacturing. The MiSeeTX mini-computer, which received rave reviews at the Las Vegas Consumer Electronics Show, has steadily gained momentum in the world of computing technology. The state-of the-art proprietary 3D projection and virtual display programs have put the MiSeeTX computer at the forefront of new exciting technology.
Clifford M. Rhee, CEO, stated, “We have worked very hard over the past year to make CTX a household name in the world of smartphone manufacturing, computing technology and our flagship virtual display. To be recognized by a leading international technology company demonstrates that our proprietary innovative product lines are the wave of the future.”
Sujata Garud is a TMCnet freelancer with three years of writing/editing experience and two years of market research experience. As an editor she has covered the IT, electronics, banking, pharma, construction, mining and healthcare industries. To see more of her articles, please visit her columnist page.
CTX Virtual Technologies raises $5 million in private placement
19 hours 13 minutes ago - DTF via Comtex
Datamonitor Financial Deals Tracker
CTX Virtual Technologies, Inc., a US-based telecommunications technology company, has raised 5 million in private placement.
The offering consisted of equity, debt and other security.
Deal Value (US$ Million) 5
Deal Type Private Placement
Sub-Category None
Deal Status Completed: 2011-07-26
Deal Participants
Target (Company) CTX Virtual Technologies, Inc. (formerly Petroleum Consolidators of America, Inc.)
Acquirer (Company) Undisclosed Investors*
CTX Virtual Technologies, Inc. Announces an Amendment to the Three-Year $60 Million Purchase Agreement with a Major Electronics Distributor
2 hours 31 minutes ago - BIZ via Comtex
BusinessWire
CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (Pinksheets: CTXV - News), announced today that certain product selections have been amended for a previously announced volume purchase agreement with TGE Group, a leading electronics provider of multi-functional digital multimedia devices for worldwide OEM/ODM customers. TGE Group sources product for a number of global consumer electronics companies. Under the amendment, we have removed the products referencing the evoMouse and CL-850 virtual keyboards and added the next generation CTX VK-200, MiSEETX Micro computer and Integrated Chip for the Tablet PC. All other terms of the contract remain the same. During the three-year period, TGE has agreed to purchase from us, and we have agreed to sell to TGE, units of our products having an aggregate purchase price of $60 million (or an aggregate of two million product units).
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements - The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
SOURCE: CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc.
Clifford Rhee, 561-962-2835
Last trade .0001
Up 20% today so far. Now at .60.
With all the great things going on with CTXV, I cannot figure out why there is not more volume and higher prices. Still waiting for an announcement on the start of shipping of their new virtual technology. When that happens the volumne and price should rise.
As good as your intentions may be, it is doubtful that LTUS management would welcome input from such a group and would want to put forth the time and effort to communicate with the group. Management has taken LTUS from nothing to a sizeable company without much help from outsiders. Have you told management of your plans and do they seem willing to cooperate?
From what I hear there should be some initial shipments of products utilizing some of this new virtual technology very soon.
Thanks for sharing
It is still in works. We should hear something soon.
CTX Signs Development Project Agreement with Leading International Technology Company
Written by TradersHuddle Staff
Tuesday, 26 April 2011 06:04
BOCA RATON, Fla.-( Business Wire )-
CTX Virtual Technologies, Inc. (Pink Sheets: CTXV) a technology company that manufactures and distributes mobile telecommunication, virtual imaging and mobile data input accessories today announced that it has reached a development project agreement to showcase, private label and distribute the new MiSeeTX mini-computer worldwide. The agreement is structured as a royalty payment to CTX for up to 15% of worldwide sales with potential royalty income to the company of up to $16 million dollars. CTX will receive a $760,000 payment for non-reoccurring engineering charges, thereafter the technology company will also assume all costs for ramp-up and manufacturing. The MiSeeTX mini-computer which received rave reviews at the Las Vegas Consumer Electronics Show has steadily gained momentum in the world of computing technology. The state-of the-art proprietary 3D projection and virtual display programs have put the MiSeeTX computer at the forefront of new exciting technology.
Clifford M. Rhee, CEO, stated, “We have worked very hard over the past year to make CTX a household name in the world of smartphone manufacturing, computing technology and our flagship virtual display. To be recognized by a leading international technology company demonstrates that our proprietary innovative product lines are the wave of the future." Rhee went on to say, “Today we are also announcing the resignation of one of our original board members, David Cohen, who has served our company well guiding us through the first year as a public company. Mr. Cohen was the original controlling shareholder of Petroleum Consolidators of America Inc before it completed the merger with CTX Virtual Technologies, Inc."
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
For CTX Virtual Technologies, Inc.Ed Carter, 702-561-1790ecsdlv@hotmail.comThis e-mail address is being protected from spambots. You need JavaScript enabled to view it
I believe the first IR firm had a breakup within the firm and stopped their involvement with CTX months ago.
Kudos for what? Has the price of stock went up since Red Clips was hired? I don't thing so.
Released 5-14 last year.
CTX Virtual Technology Announces Financial Results
1 days 9 hours 38 minutes ago - BIZ via Comtex
BusinessWire
CTX Virtual Technologies, Inc. (Pink Sheets: CTXV) a technology company that manufactures and distributes mobile telecommunication, IT data management, virtual imaging and mobile data input accessories today announced the financial results for the nine months ending September 2010. Revenues for the nine months ending September 2010 were $36.3 million. Net income on GAAP basis for the nine months ending September 2010 was $1.4 million.
Clifford M. Rhee, CEO, stated, "Over the past year we have made significant progress implementing our profitability and cash flow generation plan through the closing of our Private Placement which raised over $7.5 million of working and investing capital. We will continue to focus on our core business while capitalizing on the technologies that are being developed in areas of embedded virtual keyboards, 3D electronic projection and the world's first fully integrated minicomputer. In the coming months we will set our sights on the release of new technology while improving our profitability through concentrating our focus on modernization and additional ways to reduce expense and increase profit margins." Rhee went on to say, "Our auditing firm BDO is currently working on the completion of our year end 2010 results, which we expect to be releasing in the near future."
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
SOURCE: CTX Virtual Technologies, Inc.
For CTX Virtual Technologies, Inc.
Ed Carter, 702-561-1790
ecsdlv@hotmail.com
I am just waiting for the annual report that has been promised for several months. Apparently they are having some trouble reporting in accordance with U S generally accepted accounting practices. Most of the accounting records are kept outside of the U S. The company does not want to start there PRs until the audit reports are out. They have also experienced delays in starting their shipments on large orders that are to include some of their new technology. Hopefully the PRs will address the start some of these shipments.
CTX Virtual Technologies, Inc. (Pink Sheets: CTXV) announced today that it has engaged Wall Street Edge Investor Relations (WSE) to provide investor relations and financial communications. CTX is a technology company that manufactures and distributes mobile telecommunication, IT data management, virtual imaging and mobile data input accessories. WSE will work closely with CTX management and board members to design a comprehensive exposure program to introduce CTX to the investment community.
Together, these programs will span a broad spectrum of the investment world while offering an aggressive and comprehensive exposure program focused on the individual, institutional and retail stockbroker. The CTX awareness program will bring to the forefront a fully integrated plan built to broaden the shareholder base and increase shareholder equity. These programs will introduce new and ongoing growth strategies that will highlight company accomplishment and establish the company’s goal of increased market capitalization.
Clifford M. Rhee, CEO, stated, "We have reached another milestone at CTX and feel it’s time to introduce our company to the investing public. With our accelerated pace of growth and our soon to be released audited 2009 and Q3 financials the time was right to seek out an Investor Relations firm that understood our products and the wants and needs of the investing public. "
CTX Virtual Technologies, Inc. CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
Audited financials expected out in the next few days. Once financials are out,look for action to uplist to a higher exchange, a new IR firm, several significant announcements of major contract deals and a higher share price. Time to get rolling.
CTX Virtual Technologies, Inc. Launches MiSeeTX at the 2011 Consumer Electronics Show in Las Vegas
2 hours 47 minutes ago - INW
Marketwire
CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (PINKSHEETS: CTXV) launched the latest product MiSeeTX micro computer at the 2011 Consumer Electronics Show held in Las Vegas. The latest product is world's smallest fully functioning micro-computer using Intel Atom 1.6 GHz with full I/O capabilities in the box. The system weighs less than 2 lbs and incorporates the latest 66 inch Pico High Definition projection using Digital Light Processor technology and mobile data input capabilities. The product garnered considerable attention with various media and electronic distribution attendees.
Clifford M. Rhee, CEO, stated, "The launch of our latest product confirms our commitment to continuous innovation and adding to our current mobile application products."
The company plans to supply the products through global distribution channel partners.
CTX Virtual Technologies, Inc. CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1477516
For further information, contact:
Clifford Rhee
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
e-mail: info@ctxtechnologies.com
Lotus Pharmaceuticals Signs New Distribution Contracts at PHARMCHINA Conference
Wednesday 12/15/2010 6:55 AM ET - Pr Newswire
Related Companies
Symbol Last %Chg
LTUS 1.10 0.00%
As of 10:33 AM ET 12/15/10
Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a fast-growing, profitable developer, manufacturer and seller of medicine and drugs in the People's Republic of China ("PRC"), announced today that it signed contracts with new pharmaceutical manufacturers and distributors at the PHARMCHINA 64th National Drug Fair Conference, which was held in Nanchang, Jianxi Province from December 9-11.
Liang Fang Pharmaceutical Co., the operating entity of Lotus Pharmaceuticals, signed contracts at the conference with five additional regional distributors for the Company's products from multiple regions across China. The addition of the new distributors will increase Lotus' sales distribution network from 195 hospitals and distributors to 200. In addition, the Company entered into distribution contracts with six pharmaceutical manufacturing companies and will act as the exclusive distributor for their products in the Beijing area.
Chairman and Chief Executive Officer Mr. Zhongyi Liu stated, "Our participation in the PHARMCHINA conference was very fruitful, as we came away with six new contracts upstream and five downstream. We estimate that these contracts will contribute approximately $1.5 million to our overall annual revenue, with an incremental net profit increase of $0.6 million. We believe we are well-positioned to reach our goal of 25% top-line growth in 2011."
About Lotus Pharmaceuticals, Inc.
Lotus Pharmaceuticals, Inc. is a fast-growing, profitable developer and producer of drugs and a licensed national seller of pharmaceutical items in the People's Republic of China (PRC). Lotus operates its business through its two controlled entities: Liang Fang Pharmaceutical, Ltd. and En Ze Jia Shi Pharmaceutical, Ltd. Lotus' current drug development is focused on the treatment of cerebro-cardiovascular diseases, asthma and diabetes. Liang Fang sells drugs directly and indirectly through its national sales channels to hospitals, clinics and drugs stores in 30 provinces of the PRC.
Information Regarding Forward-Looking Statements
Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.
Contacts:
At the Company:
Xing Shen, Ph.D.
VP of Corporate Development
Lotus Pharmaceuticals, Inc.
Ph: +1-415-690-7688
Email: shen@lotuspharma.com
Web: http://www.lotuspharma.com
Investor Relations:
Dave Gentry, U.S.
RedChip Companies, Inc.
Tel: +1-800-733-2447, Ext. 104
Email: info@redchip.com
Does anyone understand how the quarterly and annual reports indicate that no U S Taxes are owed because Lotus Pharmaceuticals had a loss last year and still has a large tax-loss carryforward. The audited financials show extensive profits and millions in retained earnings. What gives? Is the investor in LTUS buying shares in a U. S. company with losses and a Tax loss carryover or a Chinese company with millions of dollars in retained earnings. There is probably a simple explanation but it is really confusing.
Latest News Headlines for Lotus Pharmaceuticals Inc
Lotus Pharmaceuticals Announces Update on Land in Inner Mongolia
0 minutes ago - PR Newswire
Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a fast-growing, profitable developer, manufacturer and seller of medicine and drugs in the People's Republic of China ("PRC"), today announced that it plans to sell or transfer approximately 165 acres (1,000 MU) of Company-owned land in the Chahaer Industrial Park, Inner Mongolia. Lotus' operating entity, Beijing Liang Fang Pharmaceutical Co., Ltd., purchased the land-use rights for the property in 2008. Lotus
Lotus Pharmaceuticals Announces Participation in PHARMCHINA's 64th National Drug Fair Conference
0 minutes ago - PR Newswire
Lotus Pharmaceuticals, Inc. (OTC Bulletin Board: LTUS) ("Lotus" or the "Company"), a fast-growing, profitable developer, manufacturer and seller of medicine and drugs in the People's Republic of China ("PRC"), announced today that it will participate in PHARMCHINA's 64th National Drug Fair Conference, to be held December 9-11, 2010 at the Nanchang International Exhibition Center in Nanchang, Jiangxi Province, PRC.
Over 20 Emerging Growth Companies to Present at RedChip's December Virtual Investor Conference
Thursday 12/02/2010 11:14 AM ET - GlobeNewswire
RedChip Companies, Inc. today announced that executives from over 20 emerging small-cap companies, including 13 China growth companies, will offer inside views on their industries and business strategies during a virtual conference on December 8 and 9, 2010, from 7:50 a.m. to 2:00 p.m. EST. The conference, the fifth in the 2010 RedChip Small-Cap Equities Virtual Conference Series, "Undiscovered Growth & Value Opportunities," offers a conduit for investors to discover companies who are in
Earlier Headlines - view recent headlines
CTX Virtual Technologies, Inc. Signs Letter of Intent to Acquire a Strategic Automotive Parts Manufacturer
Friday 11/19/2010 12:21 PM ET - Marketwire
Related Companies
Symbol Last %Chg
CTXV 2.35 38.24%
As of 3:03 PM ET 11/19/10
CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (PINKSHEETS: CTXV), announced today that it has signed a letter of intent for the proposed acquisition of controlling interest in a strategic automotive parts manufacturer. The target company will be acquired by one of CTX's wholly owned subsidiaries and is subject to the negotiation and execution of a definitive acquisition agreement as well as completion of legal and financial due diligence and other customary closing conditions. The acquisition is expected to be completed in the first quarter of 2011.
Jerome Feldman, chairman of CTX Virtual Technologies, said, "This acquisition should facilitate the company's growth by expanding outside its traditional markets."
Clifford M. Rhee, CEO, stated, "The target acquisition will provide us the necessary qualification and size to implement other innovative products within the automotive sector."
Financial terms of the proposed transaction were not released. In 2009, the target acquisition company achieved $59.8 million in sales with $5.9 million EBITDA.
CTX Virtual Technologies, Inc. CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
For further information, contact:
Clifford Rhee
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
e-mail: info@ctxtechnologies.com
CTX Virtual Technologies, Inc. Announces Initial $45 Million Order for 200,000 Units of 3G Smart Phones From Major China Communications Company
Monday 10/04/2010 2:16 PM ET - Marketwire
Related Companies
Symbol Last %Chg
CTXV 1.40 8.53%
As of 3:56 PM ET 10/4/10
CTX Virtual Technologies, Inc. (PINKSHEETS: CTXV) announced that it has signed a supply agreement with Beijing Broadcasting Corporation in co-operation with Beijing Capitel for the purchase of 200,000 units of smart phones with special features for a total of $45 Million USD. The first 20,000 unit release is scheduled for delivery by the end of 2010. The phone will feature GPS, digital broadcast, traffic information and other special applications.
In commenting on the supply agreement, Clifford Rhee, CEO of the Company, stated, "We are pleased to work with a major communication player in China. Based on the past success with this long-term client, we have every confidence that the new model will be well received by the buying public."
"This phone will open up tremendous opportunities for smart phone application such as remote data terminals to receive broadcasted contents," said Stephen Lee, Managing Director of Kaibida International Limited, a wholly owned subsidiary of CTX.
CTX Virtual Technologies, Inc. CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
For further information, contact:
Corporate:
Clifford Rhee
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
SOURCE: CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc. Announces a Three-Year $60 Million Purchase Agreement With a Major Electronics Distributor
BOCA RATON, FL--(Marketwire - August 30, 2010) - CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (PINKSHEETS: CTXV) announced today that its wholly owned subsidiary, Kaibida International Limited, has entered into a volume purchase agreement with TGE Group, a leading electronics provider of multi-functional digital multimedia devices for worldwide OEM/ODM customers. TGE Group sources product for a number of global consumer electronics companies. Under the agreement, we have appointed TGE Group as a worldwide distributor of our evoMouse, virtual keyboard and other consumer electronics products, with exclusivity for three years for certain of TGE Group's existing customers. During the three-year period, TGE has agreed to purchase from us, and we have agreed to sell to TGE, units of our products having an aggregate purchase price of $60 million (or an aggregate of two million product units). The initial shipment is expected to start in the 4th quarter of 2010.
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward- looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
For further information, contact:
Clifford Rhee
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
RAY DIRKS Research: Recomends CTXV.pk Aug 18, 2010
Posted on admin on August 18, 2010 // Leave Your Comment
RAY DIRKS Research: Recommends CTX Virtual Technologies, Inc. (CTXV.pk)
By Ray Dirks
RAY DIRKS Research recommends CTX Virtual Technologies, Inc. – (CTXV.pk) @ $1.17 with a market cap of $43 million and pro-forma sales in 2009 of $37 million, which are accelerating in 2010 to an annual rate of $50 million plus. CTX Virtual Technologies is a pioneer in developing a suite of applications and products using virtual projection technology for inputting data in mobile cellular devices, PCs, and commercial products. The Cellular division has developed a patent-protected technology, related to virtual input, 3-dimensional interface and AMD sensor performance which provides for 3D projected displays featuring products for virtual keyboards, mouse applications, and other virtual applications, all allowing the consumer greater communications mobility at lower cost without laptops. The Kaibida division, acquired in April, 2010, is a leading OEM manufacturer of GSM (Global Systems for Mobile Communication) and 3G converged mobile devices (Smart Phone) for several large consumer companies and global manufacturers in China. Kaibida is based in Hong Kong with 450 employees. The company is ISO 9002 registered, with manufacturing facilities certified to level 2 cleanliness.
RAY DIRKS Research : CTX Virtual Technologies, Inc. CTXV. pk
Current Price: $1.17
Target Price: $5.00 (by year end 2011)
Revenues (pro-forma)
2009: $37 million
2010: $53 million
2011 (Est) : $180 Million
2012 (Est) : $400 Million
Earnings Per Share:
2010 (Est): $ 0.10
2011 (Est): $ 0.40
2012 (Est): $ 0.80
Over the long term RAY DIRKS Research thinks that sales will reach $ 800 million in 2013 and grow by 30% per year through the year 2017 so that earnings per share could approach $3.00 per share by 2017. In early August of 2010 the company successfully raised $7.38 million in a private placement of stock which brings the total number of shares outstanding to 37 million fully diluted. The use of proceeds enables CTX Virtual Technologies to expedite the launching of both of its two new major products in the 4th Quarter of 2010 – the new mouse and the virtual keyboard and to begin fulfilling significant orders from major companies.
CTX Technologies is starting the auditing process necessary to list the company on a national stock exchange in the U.S. Thanks to an outstanding management team and a superb Board of Directors and Advisory Board, the company was extremely well-received at the annual Consumer Electronics Show in Las Vegas this January, and Forbes Magazine (Taylor Buley, staff writer and editorial developer for Forbes) highlighted their products. The management team is headed by Clifford M. Rhee, Chief Executive Officer (561 – 962 – 2835) who has a strong engineering and marketing background. In May, 2010, the company appointed Jerome Feldman as Chairman of the Board, A lawyer with 10 years of deal experience, Mr. Feldman was with several Wall Street firms and for the past decade has been the founding partner of Capital Solutions Group, LLC, an asset-based lending organization. New additions to the company’s board include several prominent industry leaders from the Far East, including China, where growth in usage of the company’s products will be exponential.
Disclosure:
The information contained in this Report contains forward-looking statements relating to the developments of the featured company’s products, services and future operating results or the future of the market. Statements contained in writing or in interviews are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected.
The words “believe,”,”expect,” “intend,” “anticipate,”, variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect performance include, but are not limited to, those factors that are discussed in each Company’s most recent reports and/or registration statements filed with the Securities and Exchange Commission. Visitors to this Internet Site are cautioned not to place undue reliance on these forward-looking statements. These statements have not been independently verified by the officers, directors or employees of Corporate Profile, LLC .com.
The information on this Internet Site has been submitted by journalists and Analyst or provided by the companies contained herein or other sources believed to be reliable. Corporate Profile, LLC has not independently verified the information provided to it by third parties. Each individual should perform his or her own independent analysis before investing. The information contained herein is neither an offer nor a solicitation to buy any of the securities of the companies contained herein. Investing in securities is speculative and contains a high element of risk.
CTX Virtual Technologies, Inc. Completes $7.4 Million Private Placement
Latest News Releases
SOURCE: CTX Virtual Technologies, Inc.
Aug 10, 2010 11:13 ET
CTX Virtual Technologies, Inc. Completes $7.4 Million Private Placement
Buckman, Buckman & Reid, Inc., Members FINRA and SIPC, Acted as Exclusive Placement Agent; Proceeds Will Expedite Product Order Fulfillment and New Product Development
BOCA RATON, FL--(Marketwire - August 10, 2010) - CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (PINKSHEETS: CTXV), announced today that in July 2010 it completed a private placement resulting in gross proceeds of approximately $7.4 million. Buckman, Buckman & Reid, Inc. served as exclusive placement agent.
CTX Virtual Technologies Inc. is a technology pioneer in developing a suite of applications and products utilizing virtual projection technology for inputting data in mobile cellular devices, PCs, and commercial products. The company's proprietary 3D projected display technology applied to its telecommunication devices, provides a number of commercial applications, all allowing the consumer greater communications mobility.
The private placement provided $2.387 million of gross proceeds resulting from the sale of approximately 4.05 million units ("Units") to accredited investors at a price of $.59 per unit, each consisting of one share of common stock and one warrant to purchase one share of common stock. The warrants are exercisable for five years at a price of $1.00 per share, subject to adjustment and redemption under certain circumstances. The gross proceeds balance of $5 million resulted from the sale of a convertible note purchased by a strategic investor. The principal amount of the note is convertible into an aggregate of approximately 8.5 million Units, representing a conversion rate of $.59 per unit. The note bears interest at 8% per annum and matures on July 26, 2011, at which time it will convert automatically into common stock. The note is also convertible at any time after issuance at the holder's option and at any time beginning six months after issuance at the Company's option. Conversion of the note, either automatically at maturity or earlier at the Company's option, is subject to there being no default in the payment of interest or otherwise under the note. Buckman, Buckman & Reid, Inc. was organized in 1988 and presently employs over one hundred (100) seasoned financial industry professionals. The firm serves over 30,000 clients with assets in excess of $1,000,000,000.
Regarding the importance of the placement, Cliff Rhee, CEO, stated, "We are pleased that Buckman, Buckman & Reid has successfully completed this $7.4 million raise. The proceeds will enable us to have working capital for the further development of our line of proprietary 3D projection technologies, next generation smartphones and for additional fulfillment of near term project orders."
CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc., through its subsidiaries, is a virtual telecommunications technology company with facilities in the U.S., China, Canada, and Korea. For more information about the Company, please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this release that are not historical facts contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, which address CTX's expectations, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which CTX currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. Important factors that may cause actual results to differ from anticipated results include, but are not limited to our ability to obtain orders and fill orders on a timely basis, our ability to obtain funding as and when needed, market acceptance of new products incorporating our technologies, the success of our product design and research and development efforts, intense competition, risks of doing business in China and other foreign markets, our ability to manage growth and our ability to successfully protect and enforce our intellectual property rights.
For further information, contact:
Clifford Rhee
CTX Virtual Technologies, Inc.
Tel: (561) 962-2835
Investor Contact:
Stan Altschuler/Richard Cooper
Strategic Growth International, Inc.
212-838-1444
www.sgi-ir.com
Is anyone watching? The stock has upticked the last couple of days. Looks like the $7 million raise may be done. If so, look for some big things to happen over the next few months.
The first SEC Filling can be viewed at:
http://www.sec.gov/Archives/edgar/data/1495930/000149593010000003/xslFormDX01/primary_doc.xml
Boca Raton-Based CTX Virtual Technologies Secures $1M of $7M Goal - cbl
By citybizlist Staff
BOCA RATON -- CTX Virtual Technologies Inc. (Pink Sheets: CTXV) has raised $1.04 million of its $7.02 million mixed-securities offering, according to the company's first SEC filing on record.
The Boca Raton-based company manufactures and distributes accessories for mobile telecommunication, information-technology data management and mobile data.
Principals named in the Reg D filing include CTX Chairman Jerome Feldman, of Capital Solutions Group LLC, which arranges business asset-based loans in excess of $300 million; past CTX Chairman David Cohen and director Haim Ifrah.
Also named are CTX President and CEO Cliff Rhee, CFO D.S. Moon; Ray Cha and Stephen Lee, both general managers and vice presidents; and Jae-Eul Koo, research and development chief.
New information has been added to the CTX website.
http://www.ctxtechnologies.com/index.php
Looks like information is about to come out. If this virtual keyboard technology gets into cellphones that should create quite a demand and interest in CTX. I am ready. Lets get going.