BVI Company News

Last week, Diguang International Development Co. has announced that it has entered into a contract with Samsung SDI Co., Ltd. Diguang’s Mobile Phone Strategic Business Unit is expecting to deliver to Samsung estimated monthly shipments of 500,000 mobile phone backlight units per model starting from early to mid-2008, with expected shipments in 2008 under the contract to total a minimum of 10 million units. Upon the agreement of both companies, the contract may be renewed.

Song Yi, President and CEO of Diguang International, has noted that this announcement was a major milestone for Diguang in further increasing company’s international presence. By his words, “The Samsung SDI contract calls for the highest in technical and quality control standards, and meeting its challenges will position us with stronger competitive advantages than ever before.”

Diguang International is a Nevada corporation specializing in the research, development, production, sale and distribution of backlights and backlight technologies, through its subsidiaries one of which is based in the British Virgin Islands. Two weeks ago the company conducted a conference call and webcast to discuss financial results for the third quarter of the year ended September 30, 2007.

A week ago, BVI-registered Talon Metals Corp. has announced that its President and CEO Dr. Fiona C. Childe has resigned from the Company and as a member of the Board of Directors.

The decision was effective immediately, and Mr. Stuart Comline assumed the position as interim President & CEO of Talon Metals Corp., while a search for a permanent replacement is continuing. Currently, Mr. Comline is a director of Talon having long years of experience in the exploration and mining industry. He worked in a number of senior managerial positions including General Manager, Exploration, responsible for all exploration activities and geology.

Mr. Comline is a past Chairman and President of another BVI-based mining company AfriOre Limited, a company which was purchased by Lonmin plc in 2007, for CDN$500 million.

As of September 30, 2007 Talon has 27,054,222 common shares outstanding and 32,244,722 shares fully diluted.

Earth BioFuels Inc. a Dallas-registered company which licenses the organic-based diesel fuel, said in regulatory filings that it had reached an out-of-court settlement with a group of creditors who tried to force it to liquidate some months ago. This group of investors included also British Virgin Islands company Castlerigg Master Investments Ltd., which, together with others, agreed to force Earth BioFuels into bankruptcy in exchange for being owed just over $100 million collectively, with interest and fees still accumulating.

Earth BioFuels admitted in court that it failed to meet some of the obligations concerning the investor financing, and that it would not contest the $100 million figure. The company lost $21 million through the first six months of 2007, on revenue of $4.8 million. It has been hurt by market factors surrounding the biofuels industry, and needs new financing to continue operations. During this year, shares of Earth BioFuels lost 95% of their value.

As part of the current agreement, Dallas company’s CEO Dennis McLaughlin has agreed to a limited personal guarantee for an unidentified portion of the debt. Earth BioFuels filed the documents on Tuesday, and next day the company asked the Securities and Exchange Commission for permission to delay filing its quarterly financial statements. Messages left with lawyers for the BVI-based Castlerigg were not returned on Wednesday, and Earth Biofuels spokesman Shawne Horn said the company expects to have a news release.

Diguang International Development Co., Ltd., the leading Chinese manufacturer of CCFL and LED backlights for LCD display industry, has announced that it will conduct a conference call and webcast, in order to discuss financial results for the third quarter of the year ended September 30, 2007.

The company informed that the conference call and webcast will take place on Wednesday, November 14, 2007, and published phone numbers for calling either from the United States or internationally. The event will also be webcast live, and a webcast archive will be available for 90 days, on a password-protected event management site.

Diguang International is a Nevada-based corporation located in Shenzhen, and having its sales and marketing subsidiary registered in the British Virgin Islands. Through its subsidiaries, the company specializes in the research, development, production, sale and distribution of backlights and backlight technologies, currently developing about 50 products per month. A month ago, the company received a favorable reception of its production at the largest IT show in South Korea.

BVI-registered Bonso Electronics International Inc. has announced in the end of October that the Annual General Meeting of Shareholders for the fiscal year ended March 31, 2007, will be held on November 29, 2007. The record date for shareholders entitled to vote at the Annual General Meeting will be October 19, 2007.

BVI company will be following an approach similar to the U.S. Securities and Exchange Commission’s new rules, for making proxy materials available over the Internet. Bonso Electronics believes that this approach will allow it to reduce the number of printed copies of its proxy materials this year, by more than 90%, and at the same time lower the cost and reduce the environmental impact of producing and delivering these materials.

Anthony So, chairman of Bonso Electronics International, Inc., has said: “The Internet presents the fairest and most direct mechanism for the dissemination of all information — investor information is no different… Providing our proxy materials over the Internet, with printed materials on request only, increases the transparency of our business, reduces what we introduce into the waste stream, and simultaneously pares down the needless expense of paper filings. Everyone wins.”

Under this approach, Bonso Electronics will deliver a “Notice of Internet Availability of Proxy Materials”, instead of delivering a printed set of proxy materials to each shareholder. The BVI company will also provide Internet access to the proxy materials for stockholders, and provide a printed set of proxy materials by mail to any stockholder who requests them.

The annual report of Bonso has been already filed, and may be viewed on Bonso’s website. Shareholders may obtain free copies of company’s proxy materials by following the instructions provided in the “Notice of Internet Availability of Proxy Materials”.

The Canadian company Dynasty Gaming Inc. has just  announced the details of its intention to acquire all of the issued and outstanding shares of two companies. Both companies, one of which, Junnet Omnimedia Inc., is based in the British Virgin Islands, and the second one is based in Beijing, China, are controlled by Dr. Wilson Cho, resident of Hong Kong and Dr. Dominic Chan, resident of Los Angeles, USA.

The Letter of Intent was signed on 16 October 2007, under its terms Dynasty proposes to acquire all the shares of these two companies from their current owners, in exchange for the issue of  320 mln new Dynasty Gaming shares, based on a price of Cdn $0.25 per share. This reverse takeover (RTO) transaction is based on a valuation of US $50 mln for the BVI company, and US $30 mln for the Chinese company.

Before closing the transaction, Dynasty must first complete a financing for a minimum of US $30 mln, based on a value of $0.25 per Dynasty share. Upon completion of all conditions under this proposed transaction, the issued capital of the Canadian corporation will increase from over 92.3 mln common shares to over 532.3 mln common shares, excluding any additional shares that may result from the exercise of 24.7 million options and warrants.

The BVI-based Junnet is a distributor of online prepaid cards in China, and a marketer of digital products such as software, music, etc. The Chinese company is engaged in the developing and technical support of these types of digital products throughout China. Dynasty Gaming’s business activities concerning online entertainment distribution and game software development will focus mainly on China.

British Virgin Islands-registered Hecta Media reported on October 30 about its plans to float on AIM. It is expected that dealings in the company’s shares will start on November 14, 2007. The company whose purpose is to make broadly distributed investments in vertically targeted, branded domains and niche content web sites, will now focus its efforts on active investment in websites and domains established in the U.K., continental Europe, and the United States.

The BVI company will have a share capital of 165,391,456 Ordinary Shares, with no nominal value yet assigned. It is anticipated that GBP4,673,158 mln will be raised on or immediately before the company will be admitted to the market, and that the company’s market capitalisation will be GBP6,6 mln.

Hecta Media’s general business model is targeted text link internet advertising, when contextually relevant text ads are placed on websites and turned into money using automated programs from Google, Yahoo and Microsoft. The company’s nominated adviser and broker is Beaumont Cornish.