Archive for August, 2006

Playtech announces interim financial results and declares dividends

Friday, August 25th, 2006

Yesterday the international designer, developer and licensor of software for the gambling industry, Playtech, announced Interim Results for 6 months (till June 30, 2006).

The company reported the following bright financial results:

  • revenues up by 139% to USD 46.2 million;
  • casino revenues up by 129% to USD 40.4 million;
  • poker revenues up by 851% to USD 4.8 million.

In these 6 months, Playtech has made a remarkable progress in its main areas of performance as well as added seven new licensees to the portfolio. Playtech’s clients operate 137 gaming sites, which makes the company one of the world’s leading software providers to the gaming industry.

Board also announced the first dividends for Playtech as a listed company – an interim payment of 8.7 cents per share to be paid on 6 October 2006. It is worth mentioning that Playtech was listed on London Stock Exchange just recently – in March 2006.

Along with outstanding results, it is worth indicating that recent legal issues in the US have caused concern amongst investors in the online gaming sector. Despite the fact that Playtech has a much stronger position than operators, the company is committed to diversifying its business portfolio, regarding both geography and product. The percentage of total revenues derived from the US have decreased, while the contribution from Europe and the exciting Asian markets have increased:

  • the percentage of income from US players was now 48%, compared with 58% a year ago and 49% in the 1st quarter;
  • 3 new licenses were added this year through migration of active game sites with the majority accommodating Asian and European players;
  • the company has initiated new Asian focused games and product development, including Mahjong.

As to product diversification, Playtech launched 2 new products last month:

  • access to Playtech’s popular Casino platform through mobile phones offered to players;
  • the Videobet product providing access to the land based gaming terminal market – a new market segment for Playtech.

Playtech Limited is a company incorporated in the British Virgin Islands as an offshore company with limited liability in 2002. Playtech (Cyprus) Limited wholly owned by Playtech Limited was incorporated as an International Business Company with limited liability in 2001.

Playtech Cyprus actively acquires companies incorporated in Israel, Estonia, and BVI.
In 2003, Playtech Cyprus acquired the share capital of 2 offshore companies – Networkland Limited and Playtech Bingames Limited – both are companies incorporated in the British Virgin Islands.

BVI company acquires large stock of Canadian biotechnological company

Thursday, August 24th, 2006

Lakota Research International Inc, registered in Road Town, Tortola, British Virgin Islands, has acquired the ownership of 5,000,000 common shares in the capital stock of biotechnological company IRI Separation Technologies Inc. As a result of this arrangement, BVI company Lakota Research International owns and controls the amount of shares which represent 26.5 percent of the issued and outstanding share capital of the IRI Separation Technologies Inc.

The BVI company does not own or control any other securities of IRI Separation Technologies. The shares were acquired in a private transaction at a price of $0.40 per share. Lakota may acquire other shares of the Company for investment purposes.

IRI Separation Technologies is a company that specializes in the extraction, development and marketing of monoclonal and polyclonal immunoglobulin antibodies for virus and bacteria related health issues. The immunoglobulin antibodies are intended for both the general and specific antibody market and are used as a nutraceutical for human consumption. Recently the Company has arranged for a private placement of up to 1,500,000 units at a price of $0.60 per unit.

BrazMin reporting results for the 2nd quarter and new achievements on the São Jorge Project

Tuesday, August 22nd, 2006

British Virgin Islands company BrazMin Corp., engaged mainly in the acquisition and development of gold exploration fields, reported the losses for the three month period ended June 30,2006. The announced amount of losses makes C$858,970 or C$0.03 per share. The capitalized exploration for the six month period was C$985,638, total amount being C$5,697,141.

These amounts are the result of BVI company’s current exploration program on the São Jorge Project in Para State, Brazil, and are very much connected with land acquisition costs. Probably, the investments in this currently major project of BrazMin Corp. already prove to bring results: the company has just reported the achievements of Phase II Exploration Program.

BrazMin São Jorge Project - Surface Plan

Tony Ransom, President and CEO of BrazMin, stated “We are very encouraged by these new results from the current drill program at São Jorge, in particular with a second hole from the Kite Zone intercepting multiple zones of gold mineralization”.

On June 30, 2006 the assets of BrazMin totalled at approximately C$14.5 Million.

Another important event for this BVI cmpany is the appointment of the new Director of the Corporation. Francis Crothers assumed an office on June 15, 2006.

The company was incorporated on July 8, 2004 under the provisions of the BVI International Business Companies Act, with the name Resource Holdings and Investments Inc. On April 5, 2005 it changed its name into BrazMin Corp.

China Pharma Holdings financial results for the second quarter ended June 30, 2006

Sunday, August 20th, 2006

On August 14, 2006 the company China Pharma Holdings, Inc. has announced its financial and operating results for the second quarter of the fiscal year.

The financial results for the three- and six-month periods ended June 30 2005 include the financials of Onny Investment Limited, – China Pharma’s predecessor company, which was incorporated in the British Virgin Islands on January 12, 2005. On June 16, 2005 Onny acquired Hainan Helpson Medical & Biotechnology Co., Ltd. – the main operating unit if China Pharma. On October 19, 2005 reorganization was started by making Onny a wholly-owned subsidiary of China Pharma, and accomplished through the exchange of shares between Onny and China Pharma. Because of these changes, the full results for 2006 cannot be directly comparable with results for the same period of 2005, and were provided in press-release for informational purposes only.

Total revenues for the second quarter of 2006 increased up to $4.0 million, from $0.5 million in the second quarter of 2005, but there is a decline compared to $4.7 million reported in the first quarter of 2006. Operating income for the second quarter was  1.4 million versus $0.1 million for the same period of 2005. Net income was up to $1.8 million from $1.6 million in the first quarter. Second quarter 2006 net income benefited from a bad debt recovery of $0.6 million.

Gross profit for the quarter was $1.9 million, compared to $2.2 million last quarter and $0.2 million in the same period in 2005. Gross margin for the second quarter was 47%, up from 34% in the second quarter in 2005.

Selling expenses, as well as general and administrative expenses  increased, mainly due to costs associated with being a public company, and investments made in approximately 50 new hires in the second quarter.

Earnings per share in fiscal 2006 reflect an increase in China Pharma’s average weighted shares outstanding from 85,112 shares in the second quarter of 2005 to 34.7 million shares in the second quarter of 2006.

Total revenues for the six month period were $8.7 million, up from $0.5 million for the same period last year. Net income increased 94% from pro forma net income of $1.8 million for the first half of 2005 to $3.4 million for the first half of 2006. Gross profit and gross margin increased 47% to $4.1 million. Operating income was $3.2 million, compared to $0.1 million last year. Earnings per share were $0.10, versus $1.23 for the first six months in 2005.

Recently the company entered into a new  $2 million dollar credit facility which will provide the flexibility to finance its growth.

For fiscal year 2006, China Pharma expects that revenues will be approximately $20 million and net income will be approximately $8 million.

China Pharma Holdings, Inc. is a company manufacturing, developing and marketing generic and brand bio-pharmaceutical products in China that treat a wide range of conditions, including infections, hepatitis, vascular, CNS and other prevailing diseases. A specialty company Helpson Bio-pharmaceutical Co., Ltd is a wholly owned subsidiary of China Pharma Holdings.