Archive for November, 2007

Diguang International enters into a large contract with Samsung SDI

Wednesday, November 28th, 2007

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.

Talon Metals Corp. announces CEO Resignation

Saturday, November 24th, 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. reaches out of the court settlement with BVI-based Castlerigg and other creditors

Tuesday, November 20th, 2007

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 announces conference call and webcast to discuss Third-Quarter financial results

Tuesday, November 13th, 2007

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.