Archive for November, 2006

Unsolicited Proposal received by BVI-registered Company Equator Exploration Ltd.

Thursday, November 30th, 2006

On November 15, 2006, a BVI-registered company Equator Exploration Limited announced  having received an unsolicited proposal concerning a possible offer for the company.

Since Equator’s announcement, it has held preliminary talks with the party that made the proposal. However, now the discussions have terminated.

Also, Equator Exploration Limited has received preliminary expressions of interest from a number of other parties. The interest was related to strategic transactions involving Equator. The above-mentioned expressions of interest and the strategic options available to the company are considered by the Board. However, it is not clear yet whether this process is about to result in a transaction or proposal being made or implemented.

Equator Exploration Limited registered in the British Virgin Islands and subjected to the law of the British Virgin Islands deals with the exploration and development of oil and gas projects in  West Africa.

BVI company to takeover Courts Jamaica Ltd.

Tuesday, November 28th, 2006

A British Virgin Islands-based company Cobalt Holding Company Limited will begin a takeover bid for Courts Jamaica Limited.

In accordance with a statement from the Board of Courts Jamaica, the company received an offer from Cobalt Holding Company Limited to purchase all the ordinary shares in the furniture retail chain.

Shareholders have been offered USD 4.25 for a stock. After trading, the share price was USD 3.85. The offer to shareholders expires on December 18, 2006. The Board of Courts is hoping shareholders will carefully consider the takeover offer.

Established in St. Lucia, Cobalt was aimed at acquiring the Caribbean assets of Courts PLC. It is a wholly owned subsidiary of a BVI-based corporation, Regal Forest Holding Company, dealing with the sale of furniture and equipment internationally.

China International Enterprises Inc. redomiciles to Delaware and obtains new name

Sunday, November 26th, 2006

China International Enterprises Inc. on November 16 has made an announcement on filing a certificate of domestication with the state of Delaware and soon issue of certificate of discontinuance of the company in Canada. These are the final stages of company’s redomiciliation. Company’s name will be China Software Technology Group Co., Ltd., and new trading symbol will be CSWT.

China International Enterprises Inc. is a holding company for a British Virgin Islands corporation Heng Xing Technology Group Development Limited, the only asset of which is China-based company Shenzhen Hengtaifeng Technology Co., Ltd. (HTC). Heng Xing is the owner of 100% shares of HTC, which is located in the Hi-tech Industrial Park in the Nanshan District, Shenzhen, China.

Shenzhen Hengtaifeng Technology Co., Ltd. was founded on July 5, 1995, entered the market in 1996 and at the moment it has more than 110 customers in more than 20 provinces of China. Its general specialization is providing application software and system integration services for Chinese enterprises. It also produces housing accumulation fund software and credit guarantee management software products, develops family planning and property management software. The company was the first individual enterprise certificated by China Information Industry Department as a “Software Supplier”, and was honored by Shenzhen Technology Bureau as a “High and New Technology Enterprise”.

Medifocus reports on qualifying transaction with Celsion Canada and its BVI-based shareholders

Thursday, November 23rd, 2006

Medifocus Inc., a capital pool company, has made an announcement about the qualifying transaction with Celsion (Canada) Limited and its shareholders. The agreement between the companies is reported to be dated November 10, 2006.

In connection with the qualifying transaction, Medifocus has entered into a Share Exchange Agreement, under the terms of which the closing of the transaction is conditional upon, among other things, the completion of a concurrent public offering of company common shares, in an amount mutually acceptable to Medifocus and Celsion Canada. Subject to the terms and conditions of the Share Exchange Agreement, Medifocus has agreed to buy, and the shareholders of Celsion Canada have agreed to sell all of the Celsion shares to Medifocus. The direct purchase of the Celsion shares will be made by the payment of $166,667 and issuance on the closing date of 10,000,000 Medifocus Shares at a deemed issue price of $0.50 per share.

Medifocus Inc. is incorporated under the laws of Ontario province in Canada, and is a reporting issuer in the provinces of Ontario, Alberta and British Columbia.

Celsion (Canada) Limited is the owner of a proprietary medical technology, the Adaptive Phased Array technology, which precisely focuses microwave radiation to heat and destroys tumours. It is a corporation existing under the laws of Ontario. Its major shareholders are Dr. Augustine Cheung (the chief executive officer and a director of Celsion Canada), and Wy-Mann International Limited, a corporation incorporated under the laws of British Virgin Islands. Dr. Cheung is the registered and beneficial holder of fifty (50) Celsion Shares and Wy-Mann International is the registered and beneficial holder of twenty-five (25) Celsion Shares.

Under the qualifying transaction, the vendors are Dr. Augustine Cheung of Silver Spring, Maryland, Wy-mann International Limited, a British Virgin Islands corporation, Silver Lake Investment Partners Ltd., a British Virgin Islands corporation, Pearl Success Ltd., a British Virgin Islands corporation, Charles Shelton of Sparks, Maryland, and Douglas Stagnaco, Maryland.

As a result of the Qualifying Transaction, Celsion Canada will become a wholly-owned subsidiary of Medifocus. Upon completion of the Qualifying Transaction, Medifocus will carry on the business of Celsion Canada under current Celsion Canada management.