Yearly Archives: 2020

PR Newswire

AP Ventures invests USD 10 million into Happay targeting the Chinese market

Leave a comment

SHANGHAI, Nov. 16, 2020 — The Australian-based investment company, which is set up to collaborate with and counts Afterpay as its largest shareholder, has completed a USD 10 million investment in Happay, China’s first BNPL (Buy Now Pay Later) platform, taking a 20% stake and valuing Happay at USD 50 million. This investment is a part of AP Ventures’ strategy of investing in high growth, scalable opportunities.

Happay Logo.
Happay Logo.

Happay is the first zero-interest credit payment product in China with "1/4 down payment, four periods free of interest, and zero fees". In August, Happay entered shopping malls within the Mixc system in Shenzhen and Hangzhou. Shenzhen and Hangzhou have a large younger consumer demographic which is the primary focus for Happay. The Mixc brand has more than 50 shopping centers in China, with an annual turnover of more than RMB 100 billion. It is the most successful, well-known and high-end mall chain in China. 

Happay shopping mall partners
Happay shopping mall partners

AP Ventures decided to invest USD 10 million in Happay following the success of Happay’s initial launch based on its strong growth metrics and traction in the market. 

"We see this as an enormous opportunity," said Hein Vogel, CEO of AP Ventures. "BNPL is booming in Australia and the US, but there aren’t many offline solutions in China that resemble Afterpay. We see China as an attractive market and are excited to partner with Happay." 

Happay has built a solution which can be embraced by shopping malls, merchants and consumers by targeting in-store solutions for shopping malls. The ease of use and deployment of the solution is attractive to merchants and its interest-free nature with no upfront fees makes it an appealing solution for consumers.

Chen Jin, Founder and CEO of Happay, has more than 20 years of experience in the commercial real estate and retail industry, and the core team members have significant experience in this field.

After the capital raise, Happay is rapidly expanding its business and operating model across China’s tier one cities, including launching into key shopping centers such as Shenzhen Mixc World, Shenzhen Coastal City, Shenzhen KingGlory Plaza, Mixc One in Xiaoshan in Hangzhou, and Lanzhou Center, the largest mall in northwest China.

By the end of October, within two months of launch, Happay has nearly 1,000 stores partnering with it. It has partnered with leading international and domestic brands such as MO&Co, bebe, Devialet, etc. Meanwhile, Happay has also expanded more broadly into adjacent sectors including children’s education, fitness, medical beauty, dentistry, etc., including strategic relationships with chain brands, such as Meland and GYMBOREE.

Happay brand store partners
Happay brand store partners

According to the data, Happay has helped more than 80% of its partner brand stores to increase customer transaction value by 30%. 25% of the stores that have partnered with Happay have seen customer transaction value increase by over 100%. The outstanding results have attracted positive feedback from retailers and brands.

Happay’s pace of growth combined with the size of the Chinese market with a population of over 1.4bn has strengthened its desire to replicate Afterpay’s success in the Australian market. Happay is excited about its future and Happay’s prospects in the changing retail landscape.

PR Newswire

CommsChoice becomes Australia’s first vendor of Contact Centre for Microsoft Teams Direct Routing

Leave a comment

SYDNEY, Nov. 16, 2020 — Leading cloud communications provider, ASX listed CommsChoice Group Limited (ASX: CCG), today announced that it has expanded its Microsoft Teams Direct Routing solution to include Contact Centre functionality, allowing companies to implement a call centre natively within their Teams environment.

CommsChoice Microsoft Teams Contact Centre Call Centre
CommsChoice Microsoft Teams Contact Centre Call Centre

CommsChoice Executive General Manager, Tony Dunphy, said that the Company was the first vendor in Australia to integrate this functionality with Microsoft Teams Direct Routing.

"We have delivered over 20 Teams contact centre and call centre solutions in our first two years of providing Teams calling, which I think means we can also lay claim to being one of Australia’s most experienced Microsoft Teams contact centre providers."

Call centres today act as one of the main channels of interaction for customers. And because of all the other ways customers engage with companies – phone, email, text, social – every member of the business has the potential to be involved in engaging a customer directly and therefore needs to have the right tools. This expanded scope of customer interactions across the entire business needs tools that provide consistency, continuous improvement, value added reporting and scale.

Mr Dunphy said, "Because the future of work has essentially been fast tracked, we’re seeing big demand for integrating contact centres with Microsoft Teams for customers deploying Teams Calling capabilities.

Direct routing means contact centre agents can make and receive calls within Microsoft Teams and it supports customer interaction work streams by acting as the hub for internal and external customer connection across all modes of communication including chat, video meetings and calling."

CommsChoice cloud-based software – Insights – provides access to features such as call recording, IVR, supervisor, reporting, and wallboards. The call recording feature captures incoming and outgoing customer calls and stores them securely, and in accordance with all compliance standards. Calls are stored in the same location as the Microsoft Office 365 tenancy, which is domiciled so local data compliance is also assured.

Mr Dunphy said, "We have a range of call centre options to suit companies with either an on-premises or cloud set up including native, semi native and hybrid contact centre solutions. Teams also enables ‘work from anywhere’ and will help ensure consistent and constantly improved customer engagement from any device, any channel, location or time zone."

ENDS

About CommsChoice

CommsChoice Group provides cloud communications for business. The company services SME and mid-tier corporate customers in Australia, Asia and internationally using its cloud based global business phone platform and Microsoft Teams calling/Direct routing integration combined with innovative SD-WAN technology and fibre and NBN access products.

For more information visit www.commschoice.com or follow the company on LinkedIn @CommsChoiceGroup or email us on enquiries@commschoice.com 

Related Links :

https://www.commschoice.com

PR Newswire

Australian Crypto Exchange CEO Argues to Move All Long-Term Digital Asset Storage Offline

Leave a comment

Alex Harper, the founder of Australia’s fastest-growing online cryptocurrency exchange, Swyftx, recently reminded his community that offline storage is the superior option for long-term crypto holding as soon as crypto is purchased on an exchange.

SYDNEY, Nov. 16, 2020 — The CEO of Swyftx, Australia’s fastest-growing online crypto exchange is suggesting that all crypto holders should immediately purchase an offline wallet like Ledger Nano S as soon as they buy crypto because offline storage is superior.

The CEO argues that other exchanges need to step up to educate users on the importance of crypto security. He argues that other exchanges and executives need to say this message themselves just like he and his team are doing. They have also dedicated blog posts and potions of their website to educating users on cryptocurrency storage.

"Other exchanges are not stressing cold storage options hard enough. Don’t get me wrong, the technology of exchanges has advanced lightyears since the Mt. Gox era, or even where we were when we first started almost 3 years ago. However, it’s still hard if not impossible to beat offline crypto storage. Crypto exchanges need to come out and talk to their communities about this… big time."

Swyftx’s Community-Centered Approach to Crypto

Since they started in 2017, Swyftx has:

  • Country’s Largest Selection: They offer 189 cryptocurrencies which is more than any other exchange in Australia. They have an iOS and Android application as well as over 30,000 users.
  • 1,100% Growth: From 2018 to 2019, grew from doing over $10 million in monthly trading volume to $120M in monthly trading volume, a volume they’ve kept up during the COVID pandemic. Grew from a two-person founding team who were science camp buddies into Australia’s fastest-growing startup.
  • Country’s Highest-Rated Exchange: The exchange currently has a 4.9 out of 5-star rating on TrustPilot with over 600 5-star reviews. Meanwhile, competitors hover around a rating that is roughly 20% less favourable.

Harper said that Swyftx is more concerned about creating a great product that people love over anything else. He said Swyftx is more concerned about loyalty than profitability because he believes that by differentiating yourself as a trustworthy brand in this space, you’re already leagues over other brands with a clouded or lukewarm reputation.

"Swyftx is concerned about creating a company that is profitable, but one that does the right thing. Other exchanges have been silent on cold storage and using Ledger. They want all of the funds to stay deposited on the exchange. However, we know that by doing the right thing and making our users more aware of Ledger, we will be building loyalty instead of orchestrating a quick cash grab. This will be apparent to our users because they know we have their best interest in mind. This is a long-term strategy to build trust with our users."

Swyftx has even created a guide to help users understand the risks with online storage and the benefits of hardware wallets.

About Swyftx

Swyftx is Australia’s most trusted and progressive cryptocurrency trading platform. It implements layered security, instant verification, best prices and live chat support. In 2019, Swyftx has grown 1100% to over $120M in monthly trading volume. Since then, Swyftx has grown to over 30,000 users and is planning to go international by 2021. Here is a link to the exchange’s website: https://swyftx.com.au.

Contact Details:

Press@swyftx.com.au

Related Links :

https://swyftx.com.au

PR Newswire

Huntkey to Present at Hong Kong Autumn Sourcing Week Digital Show

Leave a comment

SHENZHEN, China, Nov. 14, 2020 — Huntkey, a leading provider of power solutions, will be presenting at the Hong Kong Autumn Sourcing Week Digital Show (shorted for "the show" below) from November 16– 27, 2020.

Huntkey at the show:
https://sourcing.hktdc.com/en/Supplier-Store/Home/Shenzhen-Huntkey-Electric-Co-Ltd-/1S00NUCXX?ref_source=SearchKeyword&ref_term=huntkey&ref_medium=N

The show is a one-top online sourcing platform for buyers and suppliers to continue explore more business opportunities across various industries. It’s organized by the Hong Kong Trade Development Council (HKTDC), a statutory body established in 1966 as the international marketing dedicated to creating opportunities for Hong Kong’s businesses.

The show is all digital to ensure public health and safety in view of the COVID-19 pandemic. At the show, Huntkey is planning to showcase its main categories of products that include air purifiers, power supplies, power strips, surge protectors, monitors, adapters and led lamps.

Recently Huntkey has released a portable desktop air purifier, and it will be also showcased at the show. The desktop air purifier is incorporated with photocatalyst decomposing systems that can efficiently remove airborne hazards such as particles, smokes, bacteria and viruses. It measures a radius of 108mm and height of 160mm, which is well-suited for small space purification especially on an office desk. For more information, please visit: https://en.huntkey.com/

About Hong Kong Trade Development Council

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 as the international marketing dedicated to creating opportunities for Hong Kong’s businesses. The organisation has 50 offices around the world, including 13 on the Chinese mainland. With more than 50 years of experience, its mission is to explore opportunities for Hong Kong companies, especially small and medium-sized enterprises (SMEs), and connect them with business partners around the world.

About Huntkey

Huntkey Enterprise Group, founded in 1995 and headquartered in Shenzhen, is a member of The International Power Supply Manufacturer’s Association (PSMA) and a member of The China Power Supply Society (CPSS). With branch companies in the USA, Japan and other areas, and cooperating factories in Brazil, Argentina, India and other countries, Huntkey has specialized in the development, design, and manufacturing of PC power supplies, industrial power supplies, surge protectors, adapters and chargers for many years.

Related Links :

Home
PR Newswire

H3C Wins the Bid for Japanese Education Network Construction Project with Cloudnet Solution

Leave a comment

TOKYO, Nov. 14, 2020 — A leader in digital solutions, H3C has won the bidding for a networking construction project for Japanese schools. This project is part of the country’s GIGA School initiative launched by Japan’s Ministry of Education, Culture, Sports, Science and Technology (MEXT). The GIGA School initiative aims to provide high-speed and high-capacity communications standards to elementary, middle and high schools nationwide, in a bid to create the best ICT environments for applying the educational ideas of nurturing children’s creativity.

The GIGA School initiative is to improve the ICT environment to drive educational innovations.
The GIGA School initiative is to improve the ICT environment to drive educational innovations.

H3C has been awarded the bid with a comprehensive plan of the latest Wi-Fi 6 products, Power over Ethernet (PoE) switch and Cloudnet solution, strengthening its pledge to provide high-performance wireless networks and intelligent cloud O&M management services. It also aligns to the GIGA School’s plan to connect the schools nationwide to high-speed Internet and high-quality digital learning services, and build high-speed and large-capacity communication environments.

With the deployment of H3C Cloudnet solution, the local education department is enabled to undertake unified management over wired and wireless networks of many schools with only one intelligent cloud O&M management platform. Furthermore, the Cloudnet solution enables users to perform the whole deployment process remotely on APP, which can save much time and costs and improve the efficiency of network management.

H3C will take this project as an opportunity to deploy the Cloudnet solution, a solution converging wired switches and WLAN products and services in the Japanese market. At the same time, to meet diverse needs and improve user experience, the technical team from H3C is optimizing the wireless networking performance applicable for different scenarios. For example, by visualizing the network of devices and systems as health indicators (including states not limited to normal or abnormal), the solution can provide users with more reliable operating information.

Since entering the Japanese market, H3C has been committed to helping move the digital transformation forward with cutting-edge products and services. 

"Adhering to our motto of ‘Shaping the Digital Future for a Better Life’, H3C is consistently innovating and promoting digital economy as an important part of the Japanese market. We will continue to help drive the digitalization of Japan and look forward to contributing to improving the everyday life," said Gary Huang, President of the International Business and Senior Vice President of H3C.

About H3C
H3C is an industry leader in the provision of Digital Solutions and is committed to becoming the most trusted partner of clients in their quest for business innovation and digital transformation. H3C offers a full portfolio of Digital Infrastructure products, spanning across computing, storage, networks, security and related domains. The company also  provides a comprehensive one-stop digital platform that includes cloud computing, big data, interconnectivity, information security, new safety, Internet of Things (IoT), edge computing, artificial intelligence (AI) and 5G solutions, as well as end-to-end technical services.

For more information, please visit H3C official website and social media pages: Facebook; Twitter;
LinkedIn

Related Links :

https://www.h3c.com/en/

PR Newswire

Color Star Technology Reports Audited Financial Results for the Fiscal Year Ended June 30, 2020

Leave a comment

NEW YORK, Nov. 14, 2020 — Color Star Technology Co., Ltd. (Nasdaq CM: CSCW) (the "Company", or "Color Star"), an entertainment and education company that provides online entertainment performances and online music education services, today announced its audited financial results and the filing of its Annual Report on Form 20-F with the Securities and Exchanges Commission for the fiscal year ended June 30, 2020. A copy of the Annual Report is available at www.sec.gov. 

"Today’s announcement marks the filing of our Annual Report for the first time since we disposed the ready-mix concrete business and started to reposition the Company as a global, online+offline entertainment and paid knowledge sharing company. Looking ahead, with a continuously growing registered user base which now tops 500,000 and the combination of offline music festivals and online businesses that include online education academy, online concert, and online store, we firmly believe that Color Star is well positioned to succeed in years to come,"  commented Biao (Luke) Lu, Chairman and Chief Executive Officer of Color Star. 

Fiscal Year 2020 Financial Highlights

For the Fiscal Year Ended June 30,

($ millions, except per share data)

2020

2019

% Change

Revenues

$nil

$nil

NA

Loss from operations

($5.16)

($6.66)

22.4%

Net loss

($11.63)

($14.39)

19.2%

Loss per share

($0.99)

($2.46)

59.8%

Financial Conditions

As of June 30, 2020, the Company had cash, cash equivalents of $0.99 million, compared to $0.32 million as of June 30, 2019. Other receivables were $1.00 million as of June 30, 2020, compared to $2,300 as of June 30, 2019. Prepayment and advances were $1.17 million as of June 30, 2020, compared to $25,000 as of June 30, 2019. Working capital was $2.63 million as of June 30, 2020, compared to working capital deficit of $1.14 million as of June 30, 2019.

Net cash used in operating activities was $2.54 million for fiscal year 2020, compared to $1.08 million for fiscal year 2019. Net cash used in investing activities was $1.39 million for fiscal year 2020, compared to $0.14 million for fiscal year 2019. Net cash provided by financing activities was $4.80 million for fiscal year 2020, compared to $0.52 million for fiscal year 2019. 

Recent Developments

On October 30, 2020, the Company announced that it had secured the naming rights for the Wu Muye Piano World Tour, under the name "Color World – Wu Muye Piano World Tour".

On October 25, 2020, the Company officially added online "Star Mall" feature to its Color World App.

On October 16, 2020, the Company announced that it will kick off its "Color World"-branded Music Festival Series in mainland China.

On October 9, 2020, the Company announced the launch of a series of interactive live events featuring its growing band of Star Teachers.

On October 6, 2020, the Company announced that it had signed separate cooperation agreements with three renowned South Korean musicians.

On October 1, 2020, the Company announced that its ordinary shares would commence trading on the NASDAQ Capital Market under the new ticker symbol "CSCW".

On September 28, 2020, the Company announced adding online store feature to its Color World App.

On September 25, 2020, the Company announced upgrading its Color World App with interactive live video streaming feature.

On September 23, 2020, the Company announced that it entered into a memorandum of understanding on September 21, 2020 with FENT Co. Ltd., a South Korean K-pop entertainment and artist agency service company, to acquire 100 percent equity interest in FENT.

On September 16, 2020, the Company announced that it had entered into a securities purchase agreement on September 15, 2020 with certain accredited investors to purchase $6.6 million of its ordinary shares in a registered direct offering and warrants to purchase ordinary shares in a concurrent private placement.

On September 14, 2020, the Company announced the debut of the Color World App.

On September 9, 2020, the Company announced the lineup of its "Fearless, Color World" cloud concert.

On September 4, 2020, the Company announced entry into strategic agreement with China-Korea Culture and Art Exchange Association, expanding its online star education services internationally.

August 28, 2020, the Company announced collaboration with Red Phoenix Entertainment to strategically expand into sports education.

On August 25, 2020, the Company announced cooperation with the Romanian Chamber of Commerce and Industry, expanding its online star education services.

On August 21, 2020, the Company announced press conference to be held in Beijing on September 2, 202 for Color World App

On August 19, 2020, the Company announced that it reached a long-term strategic agreement with Thailand’s "Sing Sian Yer Pao Daily News".

On August 17, 2020, the Company announced that its online star education mobile application platform "Color Star" had successfully completed its testing phase and many international celebrities had joined the platform in advance to create an all-star lineup of entertainment education network.

On August 14, 2020, the Company announced that Hung-Jen Kuo had been named to its Board of Directors.

On August 10, 2020, the Company received a letter from Nasdaq notifying the Company that it had regained compliance with Nasdaq Listing Rules 5550(a)(2), as the Company maintained a closing bid price of $1.00 per share or greater for twenty (20) consecutive days from July 13 through August 7, 2020.

On August 10, 2020, the Company announced that Na Ying joined the Company’s "Fearless, Color World" online concert.

On August 7, 2020, the Company announced that American rapper, singer, songwriter and actor Machine Gun Kelly joined the Company’s "Fearless, Color World" online concert.

On August 5, 2020, the Company announced multi-platinum selling, Grammy and Golden Globe nominated recording artist Wiz Khalifa joined the Company’s "Fearless, Color World" online concert.

On August 4, 2020, the Company announced that Syncopated Ladies, the team of Emmy nominated choreographer and international tap star Chloé Arnold joined the Company’s "Fearless, Color World" online concert as the latest guest and opening dancers.

On August 3, 2020, the Company announced the launch of its official website.

On July 30, 2020, the Company announced that the famous Japanese idol Ryuta Hayashi joined the Company’s "Fearless, Color World" online concert.

On July 28, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Cooperation Agreement with a famous Chinese singer Win (Wei Xun) and an international musician Mike Mclaughlin to serve as Star Teachers on the Company’s online education platform Color World.

On July 27, 2020, the Company announced that the famous Grammy Award Winning American singer Ashanti joined the Company’s "Fearless, Color World" online concert.

On July 24, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Cooperation Framework Agreement with Hong Kong’s renowned tourbillon watch brand Memorigin to jointly design, produce and sell customized watches.

On July 23, 2020, the Company announced its wholly-owned subsidiary Color China Entertainment Limited had entered into cooperation agreements with Xiuzhu Chen, a renowned Asian music producer, and Bowan Wang, a renowned Asian dancer to serve as Star Teachers on the Company’s online education platform Color World.

On July 20, 2020, the Company announced it had entered into a securities purchase agreement with certain accredited investors to purchase approximately $4.2 million worth of its ordinary shares in a registered direct offering and warrants to purchase ordinary shares in a concurrent private placement.

On July 17, 2020, the Company announced the resignation of Yang (Sean) Liu as CEO and chairman of the board of directors and the appointment of Mr. Biao (Luke) Lu as his successor.

On July 17, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had entered into a cooperation agreement with Shenzhen Yuren Production Culture Media Co., Ltd. , through which renowned music producers Nianhe Li and Peirong Qiu, and music instructor Muheng Shen serving as Star Teachers on the Company’s online education platform Color World.

On July 15, 2020, the Company announced its "Fearless, Color World" online concert to hold on September 9, 2020.

On July 9, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Framework Agreement with Moremoon Cartoon Cultural Diffusion (Shenzhen) Co., Ltd. to release multiple series of Moremoon products on the Company’s Color World platform.

On July 7, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a cooperation agreement with a renowned American musician, Larry Carlton to serve as a Star Teacher on the Company’s online education platform Color World.

On July 2, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had just signed a cooperation agreement with a renowned guitarist, Zhengyan You (a.k.a. Masa) to serve as a Star Teacher on the Company’s online education platform Color World.

On July 1, 2020, the Company announced that its wholly owned subsidiary, Color China Entertainment Limited had signed a Broadcast and Educational Licensing Agreement with the famous American director Bobby Roth.

About Color Star Technology

Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc. The Company’s online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

For more information, please contact:

Sherry Zheng
Weitian Group LLC 
Email: shunyu.zheng@weitian-ir.com
Phone: +1-718-213-7386

 

COLOR STAR TECHNOLOGY CO., LTD. AND SUBSIDIARIES

(FORMERLY KNOWN AS HUITAO TECHNOLOGY CO., INC.)

CONSOLIDATED BALANCE SHEETS

June 30,

June 30,

2020

2019

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

988,696

$

319,514

Other receivables

1,002,300

2,300

Prepayments and advances

1,170,000

25,000

Current assets of discontinued operations

–

52,158,699

Total current assets

3,160,996

52,505,513

OTHER ASSETS

Property, plant and equipment, net

3,958,335

–

Other assets of discontinued operations

–

1,659,520

Total other assets

3,958,335

1,659,520

Total assets

$

7,119,331

$

54,165,033

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:

Other payables and accrued liabilities

$

518,122

$

353,292

Other payables – related parties

10,711

540,000

Loans payable – employee

–

308,089

Current liabilities of discontinued operations

–

52,442,854

Total current liabilities

528,833

53,644,235

Total liabilities

528,833

53,644,235

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ EQUITY:

Preferred shares, $0.001 par value, 1,000,000 shares authorized, no shares issued or

outstanding

–

–

Ordinary shares, $0.001 par value, 74,000,000 shares authorized, 25,623,822 and

7,174,626 shares issued and outstanding as of June 30, 2020 and 2019, respectively

25,624

7,175

Additional paid-in-capital

69,689,789

54,237,082

Deferred stock compensation

(1,201,183)

(3,161,200)

Deficit

(61,923,732)

(64,031,446)

Statutory reserves

–

6,248,092

Accumulated other comprehensive income

–

7,221,095

Total shareholders’ equity

6,590,498

520,798

Total liabilities and shareholders’ equity

$

7,119,331

$

54,165,033

 

COLOR STAR TECHNOLOGY CO., LTD. AND SUBSIDIARIES

(FORMERLY KNOWN AS HUITAO TECHNOLOGY CO., INC.)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

For the Years ended June 30,

2020

2019

2018

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

$

(1,598,984)

$

(2,065,829)

$

(918,605)

RESEARCH AND DEVELOPMENT EXPENSES

(120,000)

–

–

STOCK COMPENSATION EXPENSE

(3,444,617)

(4,592,200)

(1,388,501)

LOSS FROM OPERATIONS

(5,163,601)

(6,658,029)

(2,307,106)

OTHER INCOME (EXPENSE), NET

Interest income

–

84

13

Finance expense

(5,041)

(1,477)

(26)

TOTAL OTHER EXPENSE, NET

(5,041)

(1,393)

(13)

LOSS BEFORE PROVISION FOR INCOME TAXES

(5,168,642)

(6,659,422)

(2,307,119)

PROVISION FOR INCOME TAXES

–

–

–

LOSS FROM CONTINUING OPERATIONS

(5,168,642)

(6,659,422)

(2,307,119)

DISCONTINUED OPERATIONS:

Loss from discontinued operations, net of applicable income taxes

(12,245,168)

(7,729,108)

(5,092,846)

Net gain on sale of discontinued operations, net of applicable income

 taxes

5,787,213

–

–

LOSS FROM DISCONTINUED OPERATIONS

(6,457,955)

(7,729,108)

(5,092,846)

NET LOSS

$

(11,626,597)

$

(14,388,530)

$

(7,399,965)

COMPREHENSIVE LOSS

Net loss

$

(11,626,597)

$

(14,388,530)

$

(7,399,965)

Other comprehensive (loss) income – foreign currency translation (loss) gain

–

(335,080)

347,097

COMPREHENSIVE LOSS

$

(11,626,597)

$

(14,723,610)

$

(7,052,868)

LOSS PER ORDINARY SHARE

Weighted average number of shares:

Basic

11,640,018

5,841,614

2,942,945

Diluted

11,640,018

5,841,614

2,942,945

Loss per share – basic and diluted

Continuing operations

$

(0.44)

$

(1.14)

$

(0.78)

Discontinued operations

$

(0.55)

$

(1.32)

$

(1.73)

Total

$

(0.99)

$

(2.46)

$

(2.51)

 

COLOR STAR TECHNOLOGY CO., LTD. AND SUBSIDIARIES

(FORMERLY KNOWN AS HUITAO TECHNOLOGY CO., INC.)

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the years ended June 30,

2020

2019

2018

CASH FLOWS FROM OPERATING ACTIVITIES:

Net loss

$

(11,626,597)

$

(14,388,530)

$

(7,399,965)

Net loss from discontinued operations

(6,457,955)

(7,729,108)

(5,092,846)

Net loss from continuing operations

(5,168,642)

(6,659,422)

(2,307,119)

Adjustments to reconcile net loss to net cash (used in) provided by

operating activities:

Stock compensation expense

3,444,617

4,592,200

1,388,501

Changes in operating assets and liabilities

Other receivables

–

–

(2,300)

Prepayments and advances

(1,145,000)

15,458

(40,458)

Other payables and accrued liabilities

130,036

509,381

2,000

Other payables – related parties

–

540,000

720,000

Net cash used in operating activities from continuing operations

(2,738,989)

(1,002,383)

(239,376)

Net cash provided by (used in) operating activities from

discontinued operations

203,854

(73,759)

2,689,394

Net cash (used in) provided by operating activities

(2,535,135)

(1,076,142)

2,450,018

CASH FLOWS FROM INVESTING ACTIVITIES:

Purchase of equipment

(2,000,000)

–

–

Cash acquired through acquisition of Color China

5,272

–

–

Proceeds from sales of discontinued operations

600,000

–

–

Net cash used in investing activities from continuing operations

(1,394,728)

–

–

Net cash used in investing activities from discontinued operations

–

(135,705)

(138,151)

Net cash used in investing activities

(1,394,728)

(135,705)

(138,151)

CASH FLOWS FROM FINANCING ACTIVITIES:

Borrowings from shareholders

300,000

–

–

Proceeds from sale of ordinary shares, net of offering costs

4,502,901

950,000

600,000

Net cash provided by financing activities from continuing operations

4,802,901

950,000

600,000

Net cash used in financing activities from discontinued operations

(7,294)

(427,333)

(6,395,823)

Net cash provided by (used in) financing activities

4,795,607

522,667

(5,795,823)

EFFECTS OF EXCHANGE RATE CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH

(1,943)

(62,025)

149,203

NET CHANGE IN CASH, CASH EQUIVALENTS AND

RESTRICTED CASH

863,801

(751,205)

(3,334,753)

CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year

347,486

1,098,691

4,433,444

CASH AND CASH EQUIVALENTS, end of year

$

1,211,287

$

347,486

$

1,098,691

 

 

PR Newswire

Netmarble Issues Fiscal and Earnings Results for the Third Quarter of 2020

Leave a comment

Q3 Performance Remains Steady Thanks to Strong Interest from Overseas Players

LOS ANGELES, Nov. 14, 2020 — Netmarble Corp., a global mobile game company focused on creating entertaining gaming experiences for players of all ages, revealed their financial results for the third quarter of 2020.

"We continue to see strong results at the end of our third quarter with significant overseas sales coming from our line-up of existing games," said Seungwon Lee, Co-CEO of Netmarble. "We have positive expectations for the recent global launch of A3: STILL ALIVE, our upcoming regional launch of Seven Knights 2, and Kabam’s upcoming release of MARVEL Realm of Champions."

"We’re looking forward to what 2021 will bring as we continue to deliver an exciting slate of new games next year, including Ni No Kuni: Cross Worlds, Seven Knights Revolution, and MARVEL Future Revolution," said Lee. "Thanks to our new partnership with the NBA and NBPA, we are committed to the continued growth of our portfolio through genre expansion".

Selected highlights from Netmarble’s third quarter include:

  • $535 million in total sales, $73 million in operating profit, and a net profit of $77 million from July through September. Cumulative sales for 2020 are estimated at $1.55 billion, with an operating profit of $158 million.
  • Total sales increased by 3.6% year-over-year and decreased by 6.3% quarter-on-quarter. Operating profit increased 3.6% year-over-year and 7% quarter-on-quarter.
  • Net profit increased by 9.2% year-over-year and 8.6% quarter-on-quarter.
  • Overseas sales accounted for 75% ($399 million) of overall sales in the third quarter. This follows Netmarble’s second quarter which offered the highest figure of overseas sales, and continues to follow an increasing trend in global sales thanks to the worldwide success of titles such The Seven Deadly Sins: Grand Cross (17% of revenue earned), MARVEL Contest of Champions (15% of revenue earned) (Kabam), Lineage 2: Revolution (9% of revenue earned) and Blade&Soul Revolution (8% of revenue earned).
  • Genre portfolio showed diversification across RPG (40%), Casual (25%), MMORPG (23%), and others (12%).

A breakdown of the total financial earnings is below:

7/1/20-9/30/20 actuals

YoY Changes

QoQ Changes

Total Sales

$535 million

+3.6%

-6.3%

Operating Profit

$73 million

+3.6%

+7.0%

Net Profit

$77 million

+9.2%

+8.6%

For details on Netmarble’s quarterly performance, and to listen to the earnings call, please visit the company’s Investor Relations page to learn more.

About Netmarble Corporation

Established in Korea in 2000, Netmarble Corporation is a top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade&Soul Revolution and MARVEL Future Fight. As a parent company of Kabam, and a major shareholder of Jam City and Big Hit Entertainment, Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com

North America

Netmarble US
Chastity Irizarry
chastity.irizarry@netmarble.com

Rogers & Cowan PMK (for Netmarble in US)
Steven Kunz
netmarble@rogersandcowanpmk.com

Korea (Seoul)

HQ PR Team
Yonsol Chung
globalpr-g@netmarble.com  

Related Links :

http://company.netmarble.com

PR Newswire

The fourth CIIE begins taking stall reservations from exhibitors

Leave a comment

SHANGHAI, Nov. 13, 2020 — Some exhibitors planning to attend the fourth China International Import Expo (CIIE) next year started to reserve their stalls on Nov 8. This is the first time that the CIIE has offered such an option.

Five dairy companies – Fonterra, Mille, Ausnutria, Yashily and Saputo – marked their reserved booths on a map of the fourth CIIE.

Companies showcasing products at the beauty makeup section of the Consumer Goods Exhibition Area, pharmaceutical products section of the Medical Equipment & Healthcare Products Exhibition Area, and dairy products section of the Food and Agricultural Exhibition Area will receive priority when reserving their exhibition stalls, as part of new measures adopted by the fourth CIIE.

"We hope to explore a mechanism where exhibitors can choose their preferred stalls on their own starting from next year," said a worker responsible for recruiting exhibitors to the fourth CIIE.

He added that exhibitors can decide earlier to attend the expo and make preparations in advance.

The stalls at the CIIE’s Food and Agricultural Products Area have always proved to be popular among exhibitors wanting to make reservations.

The exhibition area occupied by dairy companies at the third CIIE was nearly 10,000 square meters, with six of the top eight dairy companies in the world taking part in.

The fourth CIIE’s Food and Agricultural Products Area has remained popular, with over 10 dairy companies having signed on to attend and their signed exhibition areas surpassing a total area of 5,000 square meters.

Over 120 beauty makeup and daily chemical companies have been invited to make reservations for exhibition stalls at the fourth CIIE, and many of them are currently signing agreements or making down payments.

Due to high exhibitor demand, the fourth CIIE’s beauty makeup and daily chemical product section is expected to expand to 25,000 square meters from 20,000 sq m this year.

China is the largest and most significant market for Fonterra. The CIIE has provided development opportunities for them, said Han Li, Vice-President of Fonterra Greater China, explaining why they continue to attend the expo and make reservations.

The fourth CIIE began taking applications from business exhibitors on Sept 28. It will set up six business exhibition areas: Intelligent Industry & Information Technology, Consumer Goods, Automobile, Food and Agricultural Products, Medical Equipment & Healthcare Products and Trade in Services.

Contact：Ms. Nie Qingxin

Tel.：0086-21-67008870/67008988

PR Newswire

AlpVision to offer free of charge security feature to protect COVID-19 relevant medicines against counterfeiting

Leave a comment

VEVEY, Switzerland, Nov. 13, 2020 — On November 13th, 2020, AlpVision is launching the "AlpVision COVID-19 Initiative" helping pharmaceutical companies to protect COVID-19 relevant medicines against counterfeiting.

Authentication using smartphones
Authentication using smartphones

COVID-19 has caused not only a worldwide health crisis, but also created unprecedented economic challenges. In response, AlpVision has decided to launch the "AlpVision COVID-19 Initiative". The initiative supports pharmaceutical companies by providing them for free with the necessary tools to protect COVID-19 relevant medicines and vaccines against counterfeiting.

To do so, AlpVision will provide pharmaceutical companies and their suppliers with all necessary tools to deploy the Cryptoglyph on their packaging. The AlpVision Cryptoglyph is a digital security feature which can be implemented and deployed within just a few weeks. The Cryptoglyph is invisible to the human eye and authentication of a product protected with a Cryptoglyph is done using a regular smartphone. Securing of packaging with a Cryptoglyph is very easy as it neither changes the standard production process, nor requires additional consumables. In addition, the smartphone applications connect to AlpVision’s Brand Monitoring System (BMS), a centralized server platform through which pharmaceutical companies are able to monitor in real-time product authentication activities and gain important insight into counterfeiting activities.

The "AlpVision COVID-19 Initiative" starts on November 13th, 2020, and subscription will run for an initial period of three months. Participating companies will be able to protect their COVID-19 relevant products with zero additional cost for the authentication feature. AlpVision will provide this service gratuitously until the pandemic is officially declared as ended by the World Health Organization. Companies interested in participating in the initiative are invited to contact AlpVision. More information can be found online at www.alpvision.com/Covid/.

ALPVISION – MORE THAN ANTI-COUNTERFEIT SOLUTIONS

AlpVision was founded in 2001 and is the world’s leader in digital anti-counterfeiting technologies for product authentication and counterfeit protection. AlpVision’s digital anti-counterfeiting solutions for product authentication are applicable to a wide variety of items, including packaging and labelling, plastic and metal products, and high-value documents. AlpVision anti-counterfeiting solutions are commercialized worldwide under license agreements as entirely customizable turnkey computerized systems. Today AlpVision protects over 30 billion of products each year. More information is available at www.alpvision.com. Join us on LinkedIn and follow us on Twitter.

Cryptoglyph and AlpVision are registered trademarks of AlpVision SA. Smart Embossing, AlpVision Fingerprint® and Krypsos are trademarks of AlpVision SA.

Contact:

Martin Kutter 
+41 21 948 6464  
avinfo-20@alpvision.com

Photo – https://techent.tv/wp-content/uploads/2020/11/alpvision-to-offer-free-of-charge-security-feature-to-protect-covid-19-relevant-medicines-against-counterfeiting.jpg
Logo – https://techent.tv/wp-content/uploads/2020/11/alpvision-to-offer-free-of-charge-security-feature-to-protect-covid-19-relevant-medicines-against-counterfeiting-2.jpg

  

Related Links :

http://www.alpvision.com

PR Newswire

ReneSola Power to Release Third Quarter 2020 Financial Results on December 1, 2020

Leave a comment

STAMFORD, Conn., Nov. 13, 2020 — ReneSola Ltd ("ReneSola Power" or the "Company") (www.renesolapower.com) (NYSE: SOL), a leading fully integrated solar project developer, announced today that it will report its unaudited financial results for the third quarter ended September 30, 2020 after the U.S. stock market close on Tuesday, December 1, 2020. The Company will hold a conference call to discuss the financial results at 4:30 p.m. U.S. Eastern Time on Tuesday, December 1, 2020 (5:30 a.m. China Standard Time on Wednesday, December 2, 2020).

What:              ReneSola Ltd Third Quarter (ended September 30, 2020) Earnings Call
When:             4:30 p.m. U.S. Eastern Time on Tuesday, December 1, 2020 (5:30 a.m. China Standard Time on Wednesday, December 2, 2020)
Webcast:        http://ir.renesolapower.com/webcasts-presentations

Please register in advance to join the conference call using the link provided below and dial in 10 minutes before the call is scheduled to begin. Conference call access information will be provided upon registration.

Participant Online Registration: http://apac.directeventreg.com/registration/event/7488976

A replay of the conference call may be accessed by phone at the following numbers until December 9, 2020. To access the replay, please reference the conference ID 7488976.

Phone Number

Toll-Free Number

United States

+1 (646) 254-3697

+1 (855) 452-5696

Hong Kong

+852 3051-2780

+852 8009-63117

Mainland China

+86 (800) 870-0206

+86 (400) 602-2065

Other International

+61 (2) 8199-0299

A webcast of the conference call will be available on the ReneSola Power website at http://ir.renesolapower.com.

About ReneSola Power

ReneSola Power (NYSE: SOL) is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company’s strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

Related Links :

http://www.renesolapower.com