IFM Investments Limited (NYSE:CTC) announced its unaudited financial results for the second quarter ended June 30, 2011. Consolidated net revenue in the second quarter of 2011 was RMB168.5 million (US$26.1 million), an increase of 22.7% from the first quarter of 2011, and an increase of 44.8% from the second quarter of 2010. Revenue from company-owned brokerage services in the second quarter of 2011 was RMB140.7 million (US$21.8 million), an increase of 17.8% from the first quarter of 2011, and an increase of 32.4% from the second quarter of 2010.
IFM Investments Limited, also known as Century 21 China Real Estate, provides real estate services in the People’s Republic of China. The company primarily offers franchise services.
MAJESTIC GOLD CORP (MJGCF.PK)
Gold is much in demand in industries like computer and personal electronics manufacturing, research and development, and the vanguard of technologies like superconductors. Gold is the basis for an amazing variety of products and procedures in today’s business world. One main use of gold plating is in trials, for the development of specialized products that achieve certain benchmarks. The reflective property of gold, its relative density and other properties make it uniquely suited for some lab work and product development purposes.
MAJESTIC GOLD CORP (MJGCF.PK) engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
MAJESTIC GOLD CORP (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information about MAJESTIC GOLD CORP. visit its website: http://www.majesticgold.net
International Rectifier Corporation (NYSE:IRF) announced financial results for the fourth quarter (ended June 26, 2011) of its fiscal year 2011. Revenue for the fourth quarter fiscal year 2011 was $317.2 million, a 6.9% increase from $296.7 million in the third quarter fiscal year 2011 and a 20.3% increase from $263.8 million in the fourth quarter fiscal year 2010.
International Rectifier Corporation engages in the design, manufacture, and marketing of power management semiconductors
Acorn International, Inc (NYSE:ATV) announced its unaudited financial results for the quarter ended June 30, 2011. Net revenues increased 36.0% to $82.9 million from $60.9 million for the second quarter of 2010, driven by a 68.2% increase in the sales of mobile handsets. Gross profit was $35.2 million, an increase of 34.6% from $26.1 million for the second quarter of 2010. Gross margin was 42.4%, slightly decreased from 42.9% for the second quarter of 2010. Operating loss was $0.2 million, decreased from an operating loss of $2.6 million for the second quarter of 2010.
Acorn International, Inc., an integrated multi-platform marketing company, operates TV direct sales businesses and a nationwide off-TV distribution network.
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