UTStarcom, Inc. (Nasdaq:UTSI) announced that it has closed a previously announced transaction with Stage Smart Limited ("Stage Smart"). Under the terms of the transaction, UTStarcom acquired a 75% interest in Stage Smart for US$ 30 million. The total consideration UTStarcom paid has two parts: 1) US$20 million in cash to Stage Smart in exchange for preferred stock.
UTStarcom, Inc. is a global provider of Internet Protocol (IP)-based network solutions, including the integration and support services sold to telecommunications and cable operators.
Hiru Corporation's (PINK SHEETS:HIRU) (www.hirucorporation.com) Shuangshi AHP Co.'s sales department recently held a large-scale product promotion fair.
Shuangshi AHP Co.'s sales department held a large-scale product promotion fair to present its customers the opportunity to review the full roster of Shuangshi AHP Co.'s animal health products and offer the sales force the opportunity to connect and create closer ties with their customers.
The fair attracted many people, with many customers placing orders right on the spot. The total order amount generated about 300,000 Yuan (approximately $45,000 USD) by the end of the fair.
Hiru Corporation and its main subsidiary Jiangxi Shuangshi Animal Health Products Co. (Shuangshi AHP Co.) focus on the development, manufacturing and marketing of a broad range of veterinary products for the Chinese Agricultural market. The company has established a strong position in the Chinese animal husbandry market and plans to expand and deliver more new products and solutions to this market in the future.
Hiru is pleased with the promotion and the new business that it initiated.
The company intends to make a series of updates and news announcements shortly on a more intense basis as its production and expansion plans progress
Hiru Corporation intends to continue its work in the development, production and marketing of both well-established and new veterinary drugs, and nutritional additives (amino acids, vitamins, trace elements, etc.) for the Chinese market.
The company is pleased with this development and looks forward to future growth.
Eline Entertainment Group, Inc. (PINK SHEETS:EEGI) released a statement from Mr. Sheng Chen, CEO of subsidiary Vu365:
"We at Vu365 are thrilled to team with EEGI. The web and casual gaming industry is one of the fastest growing leisure market sectors worldwide. Ours is an exciting company with a top-quality product that is only growing in popularity through the boom in online gaming. We expect this partnership with EEGI to raise the value of our company, as we are now able to expand our software development efforts to add to our already successful list of popular video game titles.
"We fully expect our existing revenues, currently in the $2 million USD range, to rise as the various projects we have in development, including an assortment of strategic web games, cyber games and 3-D large scale competitive games, land in the marketplace. These are exciting times for Vu365, and we look forward to a successful partnership with EEGI."
EEGI will keep investors updated as to future news from Vu365.
Eline Entertainment Group, Inc. operates in the educational industry in China. It operates 12 educational training centers for nursery students; and 4 training programs. The company was formerly known as Eline Music.com, Inc. and changed its name to Eline Entertainment Group, Inc. in April 2001. Eline Entertainment Group, Inc. is based in Hendersen, Nevada.
Macatawa Bank Corporation (Nasdaq:MCBC) announced on Monday November 22, 2010 the appointment of Craig A. Hankinson as Senior Vice President and Chief Credit Officer. In this position, Hankinson will have oversight for Macatawa's credit administration and credit approval process, loan policies and procedures, and work to ensure the overall quality of the Bank's lending portfolio.
Macatawa Bank Corporation is a bank holding company. Through its wholly owned subsidiary, Macatawa Bank , the Company is engaged in commercial banking business.
Socket Mobile, Inc. (Nasdaq:SCKT) reported financial results for the 2010 third quarter ended September 30, 2010. Revenue for the third quarter of 2010 was $3.4 million, compared to revenue of $4.6 million for the same quarter a year ago and a decrease of 7 percent over revenue of $3.7 million in the immediately preceding quarter.
Socket Mobile, Inc. is a producer of mobile computing hardware systems serving the business mobility markets. It offers a family of handheld computer products and a range of data collection products.
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