Dealer235
11 years ago
in the 10K we find the following paragraph:
Our subsidiaries ZHTC, Changchun Nuoya and Harbin Nuoya are private schools not operated for reasonable returns; therefore, are not
allowed to distribute dividends. As of December 31, 2012 and 2011, the total un-distributable net assets of ZHTC, Changchun Nuoya and
Harbin Nuoya amounted to $33,169,873, and $31,225,001, respectively.
guys who can help me with this paragraph by answering the following questions:
1- do we read the number $33,829,591 like 33 million$ or 33 thousand dollars?
2- is this number consolidated in the financial statements?
3- what do they mean by they are private schools not operated for reasonable returns; therefore, are not allowed to distribute dividends? what is the reason?, there are laws for example that prevent such dividends?and when they will be allowed to collect those dividends?
I would much appreciate if someone can help me with this.
dannie30
12 years ago
The Rosen Law Firm, P.A. Announces Proposed Class Action Settlement on Behalf of Purchasers of Publicly-Traded Common Stock of
The Rosen Law Firm, P.A. announces that the United States District Court Central District of California, Western Division has approved the following announcement of a proposed class action settlement that would benefit purchasers of publicly-traded common stock of China Education Alliance, Inc. (Pink Sheets:CEAI):
SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT
TO: ALL PERSONS OR ENTITIES WHO PURCHASED THE PUBLICLY-TRADED COMMON STOCK OF CHINA EDUCATION ALLIANCE, INC. FROM MAY 15, 2008 THROUGH AND INCLUDING DECEMBER 7, 2010 AND WHO WERE ALLEGEDLY DAMAGED THEREBY
YOU ARE HEREBY NOTIFIED that this class action is pending and that a settlement of it for $2,425,000 has been proposed. A hearing will be held on March 11, 2013 at 10:00 a.m. in Courtroom 5 before the Honorable Christina A. Snyder, United States District Judge of the Central District of California, 312 North Spring Street, Los Angeles, California 90012 (the "Settlement Hearing") for the purpose of determining: (1) whether the proposed settlement should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan for distribution of the settlement proceeds is fair, reasonable and adequate; and (3) whether the application for an award of attorneys' fees of 25% of the settlement amount, reimbursement of expenses of not more than $100,000, and award to Lead Plaintiffs of not more than a total of $4,500, should be approved.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you think you may be a member of the Class but have not received the full printed Notice of Pendency and Proposed Settlement of Class Action and the Proof of Claim and Release form you may obtain copies of these documents by contacting:
China Education Alliance Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson Street, Suite 3
Media, PA 19063
Tel: (866) 274-4004
www.strategicclaims.net
or by printing them at www.strategicclaims.net. The motion for payment of attorneys' fees and costs will be filed with the Court and posted at this website by February 4, 2013.
For any questions or inquiries, other than requests for copies of the Notice and Proof of Claim, please contact Counsel for the Class:
Laurence M. Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
212-686-1060
To participate in this settlement, you must submit a Proof of Claim no later than January 25, 2013. You will be bound by the Order and Final Judgment rendered in the Litigation whether or not you file a claim. As more fully described in the Notice, if you wish to object to the proposed settlement or motion for fees and costs, your objection must be received by February 18, 2013. If you want to exclude yourself from the Class, you can do so by filing a request; your request for exclusion must be received by February 11, 2013, in the manner described in the Notice.
Further information may be obtained by directing your inquiry in writing to the Claims Administrator, Strategic Claims Services, at the address listed above or through the website.
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.
DATED: NOVEMBER 19, 2012
BY ORDER OF THE COURT
http://ih.advfn.com/p.php?pid=nmona&article=55445103
dannie30
12 years ago
China Education Alliance Announces Partnership with Texthelp
http://ih.advfn.com/p.php?pid=nmona&article=55174396&symbol=CEAI
HARBIN, China, Nov. 26, 2012 /PRNewswire/ -- China Education Alliance, Inc. ("China Education Alliance" or the "Company", OTCQX: CEAI), a China-based education resource and services company, today announced that it has entered into a partnership with Texthelp Ltd. ("Texthelp"), a Northern Ireland based provider of award-winning literacy support software.
As part of the partnership, Texthelp will be providing a specifically adapted version of its English Hero software which assists English language learning through an easy-to-use toolbar containing support tools for students. The software improves students' reading, writing, speaking and listening skills in English. China Education Alliance, which has exclusive rights to the product in China, will be using the software to support English language learning students in China.
Texthelp's literacy support software is used in every university in the United Kingdom, and over 105 school districts in the United States. Currently, over 20,000 students in the United Kingdom purchase the software every year.
Mark McCusker, CEO of Texthelp, commented, "We have been exploring opportunities in China with the support of Invest NI and Intralink, an organization that works with European technology companies to execute successful market strategies in China and other Asian countries. This partnership is a result of more than 12 months of research, in-country visits and relationship building, and on the back of other partnerships recently established in India and Brazil, represents another success in a potentially very lucrative global market for English language learning. The software has been adapted in conjunction with CEA specifically for the Chinese market and we will continue to work with CEA to develop this product and other language learning technologies going forward."
Mr. Xiqun Yu, CEO of China Education Alliance Inc., said, "Increasing international cooperation means the use of English at work is becoming more common and we believe there are currently over 250 million office workers in China trying to improve their English. English Hero is a powerful tool that will help millions of Chinese people improve their language skills and we are delighted to be working with Texthelp."
About Texthelp Ltd.
Texthelp Ltd. is the worldwide leader of literacy software solutions provided through three core business divisions: Education, Speech Services and Publishing. Texthelp has been developing assistive technology software for the learning disabled community since 1996. The aim has always been to provide the most comprehensive, cutting-edge technology available to provide inclusive education.
Based in Antrim, N. Ireland and with offices in the US, Texthelp is currently experiencing a period of sustained year on year growth. The company has a reseller network covering over 20 countries.
About China Education Alliance, Inc.
China Education Alliance, Inc. (http://www.chinaeducationalliance.com) is a leading educational services company offering high-quality instructors and online education materials for students between the ages of 6 to 18 and adults (university students and professionals) aged 18 and over. Divided into two segments, students and graduate professionals, our business model delivers the skills and knowledge necessary to excel in a rapidly growing and highly competitive China. The Company provides students in the first segment with online education materials sourced from top tier schools and famous instructors for download, as well as online training and tutoring services. With teaching centers located across China, the Company also offers hands on training and tutoring to aid Chinese students pass the two most important tests they will face in their educational careers: the senior high school entrance and college entrance exams. In the second segment for graduates and professionals, China Education Alliance provides vocational training courses in subjects including IT, administration, multimedia, as well as several professional training programs.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our ability to prepare the company for growth, the Company's planned expansion in 2009 and predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs and are not a guarantee of future performance but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include, but are not limited to, such factors as unanticipated changes in product demand especially in the education industry, pricing and demand trends for the Company's products, changes to government regulations, risk associated with operation of the Company's new facilities, risk associated with large scale implementation of the company's business plan, the ability to attract new customers, ability to increase its product's applications, cost of raw materials, downturns in the Chinese economy, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. Investors are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release, readers are cautioned not to place undue reliance on any of them and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
For more information, please contact:
China Education Alliance, Inc.
Ms. Cloris Li
Chief Financial Officer
Email: cloris@edu-chn.com
Christensen
Mr. Christian Arnell
Telephone: +86-10-5826 4939
Email: carnell@christensenir.com
SOURCE China Education Alliance, Inc.
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