|
|
 | 6283  | | 0 | | 28-Mar-2011 10:47 AM | |
VectorVest Stock Analysis of China Intell as of 3/25/2011
Summary Analysis
IICN is undervalued compared to its Price of $0.58 per share, has below average safety, and is currently rated a Buy.
Graphs
China IntellInternet (Software)
Detailed Analysis
Company Information
Business: China Intell, (IICN) China VOIP & Digital Telecom, Inc. engages in the research, development, and commercialization of network communication technology in the People’s Republic of China. Its products include IP telephone, a hardware that supports the protocol of SIP or H.323; Analog Gateway, which connects the soft switch system with the common telephone and converts the traditional telephone into a voice over Internet protocol (VoIP) telephone; Video Telephone, a device that supports the protocol of SIP or H.323; Softphone, a software that supports the protocol of SIP or H.323; and WiFi Phone, an Internet protocol phone set that supports SIP protocol and 802.11 connection, as well an end user device for soft switch platform. The company’s products also comprise soft switch IP telephone system; NP PBX, a small voice-switch platform that combines PBX and VoIP technology; and call center system. China VOIP & Digital Telecom was founded in 2001 and is based in Jinan, the People’s Republic of China.
Capital Appreciation Analysis
Value: Value is a measure of a stock's current worth. IICN has a current Value of $0.94 per share. Therefore, it is undervalued compared to its Price of $0.58 per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates. Value increases when earnings, earnings growth rate and profitability increase, and when interest and inflation rates decrease. VectorVest advocates the purchase of undervalued stocks. At some point in time, a stock's Price and Value always will converge.
RV (Relative Value): RV is an indicator of long-term price appreciation potential. IICN has an RV of 1.36, which is very good on a scale of 0.00 to 2.00. This indicator is far superior to a simple comparison of Price and Value because it is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk. RV solves the riddle of whether it is preferable to buy High growth, High P/E stocks, or Low growth, Low P/E stocks. VectorVest favors the purchase of stocks with RV ratings above 1.00.
RS (Relative Safety): RS is an indicator of risk. IICN has an RS rating of 0.64, which is poor on a scale of 0.00 to 2.00. RS is computed from an analysis of the consistency and predictability of a company's financial performance, debt to equity ratio, sales volume, business longevity, price volatility and other factors. A stock with an RS rating greater than 1.00 is safer and more predictable than the average stock in the VectorVest database. VectorVest favors the purchase of stocks of companies with consistent, predictable financial performance.
RT (Relative Timing): RT is a fast, smart, accurate indicator of a stock's price trend. IICN has a Relative Timing rating of 1.36, which is very good on a scale of 0.00 to 2.00. RT is computed from an analysis of the direction, magnitude, and dynamics of a stock's price movements over one day, one week, one quarter and one year time periods. Once a stock's price has established a strong trend, it is expected to continue in that trend for the short-term. If a trend dissipates, RT will gravitate toward 1.00. RT will explode from bottoms, dive from tops, and reflect changes in price momentum. VectorVest favors the purchase of stocks with RT ratings above 1.00.
VST (VST-Vector): VST is the master indicator for ranking every stock in the VectorVest database. IICN has a VST rating of 1.17, which is good on a scale of 0.00 to 2.00. VST is computed from the square root of a weighted sum of the squares of RV, RS, and RT. Stocks with the highest VST ratings have the best combinations of Value, Safety and Timing. These are the stocks to own for above average, long-term capital appreciation. VectorVest advocates the purchase of safe, undervalued stocks rising in price.
Recommendation (REC): VectorVest gives a Buy, Sell, Hold recommendation on every stock, every day. IICN has a Buy recommendation. REC reflects the cumulative effect of all the VectorVest parameters working together. These parameters are designed to help investors buy safe, undervalued stocks rising in price. They also help investors avoid or sell risky, overvalued stocks falling in price. VectorVest recommends that investors buy high VST-Vector, Buy-rated stocks in rising markets.
Stop (Stop-Price): Stop is an indicator of when to sell a long position or cover a short position. IICN has a Stop of $0.55 per share. This is $0.03 below IICN's last closing Price. A stock's Stop is computed from a 13 week moving average of its closing prices, and is fine-tuned according to the stock's fundamentals. High RV, high RS stocks have lower Stops, and low RV, low RS stocks have higher Stops. In the VectorVest system, a stock gets a 'B' or 'H' recommendation if its Price is above its Stop and an 'S' recommendation if its Price is below its Stop.
GRT (Earnings Growth Rate): GRT reflects a company's one to three year forecasted earnings growth rate in percent per year. IICN has a forecasted Earnings Growth Rate of 28.00%, which VectorVest considers to be excellent. GRT is computed from historical, current and forecasted earnings data. It is updated each week for every stock in the VectorVest database. GRT often foretells a stock's future price trend. If a stock's GRT trend is upward, the stock's price will likely rise. If GRT is trending downward, the stock's Price will probably fall. VectorVest favors the purchase of stocks whose GRT is rising and is greater than the sum of current inflation and interest rates.
EPS (Earnings per Share): EPS stands for leading 12 months Earnings Per Share. IICN has a forecasted EPS of $0.10 per share. VectorVest determines this forecast from a combination of recent earnings performance and traditional fiscal and/or calendar year earnings forecasts.
PE (Price to Earnings Ratio): P/E is a popular measure of stock valuation which shows the dollars required to buy one dollar of earnings. IICN has a PE of 5.8. This ratio may be deemed to be high or low depending upon your frame of reference. The average P/E of all the stocks in the VectorVest database is 51.58. P/E is computed daily using the formula: P/E = Price/EPS.
EY (Earnings Yield): EY reflects earnings per share as a percent of Price. EY is related to P/E via the formula, EY = 100 / (P/E), and may be used in place of P/E as a measure of valuation. EY has the advantages that it is always determinate and can reflect negative earnings. IICN has an EY of 17.24% percent. This is above the current average of 1.94% for all the stocks in the VectorVest database. EY equals 100 x (EPS/Price).
GPE (Growth to P/E Ratio): GPE is another popular measure of stock valuation. It compares earnings growth rate to P/E ratio. IICN has a GPE rating of 4.83%. High growth stocks are believed to be able to justify high P/E ratios. A stock is commonly considered to be undervalued when GPE is greater than 1.00 and overvalued when GPE is below 1.00. Unfortunately, this rule of thumb does not take into account the effect of interest rates on P/E ratios. The operative GPE ratio of 1.00 is valid when and only when interest rates equal 10%. With long-term interest rates currently at 3.49%, the operative GPE ratio is 0.121801. Therefore, IICN may be considered to be undervalued .
Dividend Analysis
DIV (Dividend): VectorVest reports annual, regular, cash dividends as indicated by the most recent payments. Special distributions, one-time payments, stock dividends, etc., are not generally included in DIV. IICN does not pay a dividend.
DY (Dividend Yield): DY reflects dividend per share as a percent of Price. IICN does not pay a dividend, so it does not have a Dividend Yield rating. DY equals 100 x (DIV/Price). It is useful to compare DY with EY. If DY is not significantly lower than EY, the dividend payment may be in jeopardy.
DS (Dividend Safety): DS is an indicator of the assurance that regular cash dividends will be declared and paid at current or at higher rates for the foreseeable future. IICN does not pay a dividend, so it does not have a Dividend Safety rating. Stocks with DS values above 75 typically have RS values well above 1.00 and EY levels that are much higher than DY.
DG (Dividend Growth Rate): Dividend Growth is a subtle yet important indicator of a company's financial performance. It also provides some insight into the board's outlook on the company's ability to increase earnings. IICN does not pay a dividend, so it does not have a Dividend Growth rating.
YSG (YSG-Vector): YSG is an indicator which combines DS, DY and DG into a single value, and allows direct comparison of all dividend-paying stocks in the database. IICN does not pay a dividend, so it does not have a YSG rating. Stocks with the highest YSG values have the best combinations of Dividend Yield, Safety and Growth. These are the stocks to buy for above average current income and long-term growth.
Price-Volume Data
Price: IICN last traded on 3/25/2011 at $0.58 per share.
Open: IICN opened trading at a price of $0.60 per share on 3/25/2011.
High: IICN traded at a High price of $0.60 per share on 3/25/2011.
Low: IICN traded at a Low price of $0.55 per share on 3/25/2011.
Range: Range reflects the difference between the High and Low prices for the day. IICN traded with a range of $0.05 per share on 3/25/2011.
$Change: IICN last traded down $-0.02 from the prior day's closing Price.
%PRC: IICN's Price changed -3.33% from the prior day's closing price.
Volume: IICN traded 6,400.00 shares on 3/25/2011.
AvgVol: AvgVol is the 50 day moving average of daily volume as computed by VectorVest. IICN has an AvgVol of 54,646.00 shares traded per day.
%Vol: %Vol reflects the percent change in today's trading volume as compared to the AvgVol. %Vol equals ((Volume - AvgVol) / AvgVol ) * 100. IICN had a %Vol of -88.29% on 3/25/2011.
CI (Comfort Index): CI is an indicator which reflects a stock's ability to resist severe and/or lengthy price declines. IICN has a CI rating of 0.96, which is fair on a scale of 0.00 to 2.00. CI is quite different from RS in that it is based solely upon a stock's long-term price history. VectorVest advocates the purchase of high CI stocks.
Sales / Market Capitalization Information
Sales: IICN has annual sales of $6,000,000.00.
Sales Growth: Sales Growth is the Sales Growth Rate in percent over the last 12 months. IICN has a Sales Growth of 999.00% per year. This is excellent. Sales Growth is updated each week for every stock. It is often useful to compare Sales Growth to Earnings Growth to gain an insight into a company's operations.
Sales Per Share (SPS): IICN has annual sales of $0.10 per share. SPS can be used as a measure of valuation when comparing stocks within an Industry Group.
Price to Sales Ratio (P/S): IICN has a P/S of 5.74. This ratio is also used as a measure of valuation. Here, too, it is useful when comparing stocks within an Industry Group.
Shares: IICN has 63,000,000.00 shares of stock outstanding.
Market Capitalization: IICN has a Market Capitalization of $37,000,000.00. Market Capitalization is calculated by multiplying price by shares outstanding.
Business Sector: IICN has been assigned to the Internet Business Sector. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.
Industry Group: IICN has been assigned to the Internet (Software) Industry Group. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.
|
 | 6272  | | IICN | | 25-Mar-2011 11:01 AM | |
SYS-CON Media (press release) (blog) - Hovhannes Avoyan -
I'm not just talking about China, Japan and Korea — the hotspots of Asian ... We are slowly becoming dependent on cloud computing from a consumer side and ...
The Cloud is expanding everywhere. I wonder if long term IICN will become international thru its customers that have global reach. .
Cazador |
 | 6199  | | IICN | | 22-Mar-2011 02:52 PM | |
Manufacturing Business Technology - 1 hour ago
This is part two of a two-part piece on cloud computing. ... This effectively enables an operator in China to leverage the development or work done by a ...
Cazador |
 | 6090  | | IICN | | 17-Mar-2011 09:08 AM | |
1 day ago - China. Title · Location · Start, Provider. VMware vSphere: Install, Configure, Manage [V4.1], Beijing BJ, 21 Mar 11, Beijing Powerunique Technologies Co,Ltd ... |
 | 6067  | | IICN | | 16-Mar-2011 02:18 PM | |
ITProPortal - 1 hour ago
AMI's research shows that the majority of investments in cloud computing made by SMBs in the Asia Pacific region will come from China, Australia and Korea.
...
AMI's research shows that the majority of investments in cloud computing made by SMBs in the Asia Pacific region will come from China, Australia and Korea. The company also says that India and China will account for the strongest economic growth, of 20 per cent, in the Asia Pacific region followed by the Association of Southeast Asian Nations (ASEAN).
Cazador |
 | 6058  | | IICN | | 16-Mar-2011 09:55 AM | |
|
 | 6018  | | IICN | | 15-Mar-2011 09:38 AM | |
WT, this is the trend in the OTC world:
OTC Markets Group Announces 2010 Trading Statistics
Last update: 3/15/2011 8:00:00 AM
NEW YORK, March 15, 2011 /PRNewswire via COMTEX/ -- OTC Markets Group Inc. (otcqx:OTCM), which operates the world's largest electronic marketplace for unlisted stocks, today announced 2010 trading results and marketplace trends. Priced quotations on OTC Markets Group's interdealer quotation and trade negotiation system, OTC Link(TM), grew by 31% in 2010. This increase is attributable to an overall increase in foreign stocks traded in the U.S. and broker-dealers choosing to publish more quotations in OTC Link to take advantage of the wide quote distribution and trade messaging connectivity offered by the OTC Link platform.
OTC Markets Group continues to see strong growth in its OTCQX(R) market tier, the top tier of the OTC marketplace. OTCQX securities trade on OTC Link - this tier includes only those OTC companies that meet the highest financial standards and undergo a qualitative review. The OTCQX tier represented 11% of the dollar volume and 10% of the market capitalization of OTC Link-eligible securities traded during 2010. The OTCQX tier grew by 103% in 2010, adding 93 new companies including global leaders such as AXA, BNP Paribas, Deutsche Telekom AG, and Zurich Financial Services Ltd., as well as 9 U.S. and 55 TSX-listed Canadian companies.
OTCQB(R), the middle tier of the OTC market, was introduced in April 2010 to help investors identify OTC-traded companies that report to the SEC or a U.S. banking or insurance regulator. OTCQB was created in response to the increasing number of U.S. reporting companies quoted solely on the OTC Link platform. At the end of 2010, broker-dealers published 93% of all OTC priced quotes on OTC Link, compared to 7% on the OTC Bulletin Board(TM) (OTCBB).
_______________________________________________________________________________
IICN trades in the OTCQB tier and I guess it will deleted from there if no filing for FY2010 is submitted.
Cazador |
 | 6003  | | IICN | | 14-Mar-2011 11:12 AM | |
A lot of IICN's wins have been based on customized solutions for the energy, mining, telecom markets, so I guess there's some BPaaS iniatives?
I guess this is a key to BPaaS:
Feb 14, 2011China Intelligence Information Systems, Inc. Subsidiary Successfully Passed CMMI Level 3 Appraisal
JINAN, Shandong, China, Feb. 14, 2011 /PRNewswire via COMTEX/ -- Jinan Yinquan Technology Co., Ltd. (Yinquan), the wholly-owned subsidiary of China Intelligence Information Systems, Inc. (the Company), today announces that it has successfully passed CMMI Level 3 Appraisal acknowledged by Software Engineering Institute of Carnegie Mellon University (the SEI) officially . It represented the Company took a significant step to become an excellent software service provider.
CMMI stands for Capability Maturity Model Integrations, which is a trademark owned by SEI, it is a process improvement approach that helps organizations improve their performance. CMMI can be used to guide process improvement across a project, a division, or an entire organization. It is an internationally acknowledged authority measurement for an enterprise's capability maturity and project management level.
http://www.otcmarkets.com/stock/IICN/news
Article:
The key explosive factor for the Cloud computing market will be when it evolves from simple hosting services for web applications, to catering for full outsourcing scenarios.
This is what the outsourcing industry have started referring to as ‘BPaaS’ – Business Process as a Service, adding a fourth layer in addition to IaaS, PaaS and SaaS.
Described in this article, and this one, experts from organizations like Tata, Infosys, IBM and Dell Perot, key sectors like Healthcare and financial services will seek out entire vertical end-to-end solutions from Cloud providers. They’ll want to transform expensive paper-based and legacy application systems and ideally access the solution in a telco-like utility manner.

Cloud BPM : Business Process Management
Telcos and web hosting providers will be able to service this market through adopting Cloud BPM platforms: Business Process Management software that leverages Cloud technologies.
The types of functions these apps will offer will include:
-
Conversion of paper-based workflow forms
-
Imaging and document management
-
E-Payment, check processing and funds transfer facilities
-
Legacy application data integration
-
Multimedia
-
Email and Sharepoint file archiving
http://cloudcomputing.sys-con.com/node/1751039
Cazador |
 | 5982  | | SBAY | | 11-Mar-2011 01:14 PM | |
CAZ.. I have asked Bob to take a look at this post. As you know, we are sorting through Subaye (OOTC:SBAY) story now.
|
 | 5979  | | IICN | | 11-Mar-2011 10:12 AM | |
WT, perhaps this is Bob's alley?
Lexology (registration) - Michelle Chan - Clarice Yue - 2 hours ago
Cloud computing services is one of the hottest topics in ... For example, in China the provision of Software as a Service, ...
-
United Kingdom
-
-
March 9 2011
Cloud computing services is one of the hottest topics in the technology sector at present. At its most basic form, cloud services allow users to access software applications/computing platforms/infrastructure as a service through the Internet and store data on suppliers servers rather than maintaining their own infrastructure. Users and suppliers of cloud services will need to be alive to the key regulatory and contractual risks associated with cloud services.
In general, cloud services is not currently subject to specific regulation. This does not mean that the service itself is not subject to a range of laws and regulations. A high level summary of the key legal and regulatory issues is set out below.
-
Licensing requirements
Despite the lack of specific regulation, in certain jurisdictions the provision of cloud services will require the supplier to obtain a licence. For example, in China the provision of Software as a Service, Platform as a Service or Infrastructure as a Service will require the supplier to obtain a Type 1 Value Added Telecom Business Licence. From a user's perspective, proper due diligence on prospective suppliers' regulatory qualifications should be conducted.
Software as a Service means where customers access and use software (eg, applications for word-processing, spreadsheets, email, and customer relationship management) through the internet rather than storing it on local computers
Platform as a Service means where the customer is able to use cloud-based computing platforms for deploying applications on the internet (to other third parties) without having to invest in it and manage the underlying hardware and software
Infrastructure as a Service means where customers can use computer infrastructure (eg, servers, software, data centre space and network equipment) as a service through the internet.
-
Data protection
Export of data to other jurisdictions is usually heavily regulated. In addition to jurisdictional-specific data protection regulations, it may be important for users to require suppliers to handle personal data stored in the cloud in accordance with their instructions and to keep such data secure. Services involving regulated industries may be subject to stringent data protection obligations. These requirements will need to be reflected in the contractual arrangements to be entered into with the prospective suppliers.
-
Information security
Users and suppliers alike should assess the potential liability for losing or leaking users data. Suppliers that seek to limit their potential liability by including exclusion provisions in their contracts with users will need to closely scrutinise such provisions to ensure that they will be effective under applicable laws and yet represent the agreed distribution of risks. To cater for specific security demands, users and suppliers may consider if "private cloud" may be a better option.
-
Service quality
Corporate/public sector users are usually keen to insist on appropriate SLAs and the extent to which a supplier may restrict its potential liability from service outages may be limited. Offering audit rights to users is critical to corporate users in regulated industries to allow such users access to data for regulatory compliance purposes.
-
Intellectual property rights
It is important to contractually clarify the ownership of new IPR and licence terms. In general, suppliers own new copyright/database rights created during the handling of users' data. However, users may insist on the ownership of new IPR created in relation to their data or licence rights to allow unrestricted use of such rights. In addition, suppliers should be prepared for sophisticated users to request an indemnity against claims made by third parties against the users in relation to their use of software provided by the supplier.
___________________________________________________
IICN's Licenses, Certificates and Awards:
2008
-
In June 13, BPUT succeeded in research of security storage products independent, which awarded the computer information security license by The Ministry of Public Security of the PRC.
-
In July 7, BPUT got Software Product Registration Certificate of Virtualization System Software V1.0, and the company got Software Enterprise Authentication Certificate.
-
In October 14, IBCC International Business Communication Center Software was awarded the Software Copyright Registration Certificate by National Copyright Administration of the People’s Republic of China.
2009
-
In April 30, Jinan Yinquan received the honor as the Model E-Commerce Company of Shandong granted by Shandong Information Industry Department; In addition, Yinquan’s IBCC platform was selected as The Most Valuable E-commerce Product of Shanodong.
-
In May 26, Yinquan’s Virtualization Terminal Device passed the energy-saving test implemented by CEPREI (Shadong) Lab and Shandong Supervision and Inspection Institute of Electric Products.
2010
-
In February 9, Shandong Quality & Technology Supervision Bureau has approved two new provincial industry standards, which were established largely by Jinan Yinquan. Both standards “Energy-saving Management Implementation Guide of Electronic Information System (DB37/T1497—2009)” and “Datacenter Server Virtualization & Energy-saving Technology Regulations (DB37/T1498—2009)”, were taken effect on March 1, 2010
-
In middle of May, BPUT passed ISO9001 Quality Certification.
-
In June 30, Jinan Yinquan passed the ISO 27001 certification.
More company history:
http://www.ciisi.com/CompanyHistory.html
CMMI Level 3 Appraisal acknowledged by Software Engineering Institute of Carnegie Mellon University (the SEI)
China Intelligence Information Systems, Inc. Subsidiary Successfully Passed CMMI Level 3 Appraisal 2011-02-14
Cazador
|
 | 5955  | | IICN | | 10-Mar-2011 10:17 AM | |
|
CHINA INTELLIGENCE INFORMATION SYSTEM INC. AND SUBSIDIARIES
|
|
(FORMERLY KNOWN AS CHINA VOIP & DIGITAL TELECOM, INC. AND SUBSIDIARIES)
|
|
CONSOLIDATED STATEMENTS OF OPERATIONS
|
|
FOR THE THREE MONTH AND THE NINE MONTH PERIODS ENDED SEPTEMBER 30, 2010 AND 2009
|
|
(UNAUDITED)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three month periods ended September 30,
|
|
|
Nine month periods ended September 30,
|
|
|
|
|
|
2010
|
_
|
|
2009
|
_
|
|
2010
|
_
|
|
2009
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
License sales
|
$
|
1,778,956
|
|
$
|
114,806
|
|
$
|
2,938,259
|
|
$
|
251,230
|
|
Consulting - Software development
|
|
820,297
|
|
|
-
|
|
|
1,354,865
|
|
|
-
|
|
Hardware sales
|
|
672,243
|
|
|
-
|
|
|
1,110,328
|
|
|
-
|
|
Training and other
|
|
117,180
|
|
|
21,414
|
|
|
193,543
|
|
|
170,400
|
|
|
Net revenues
|
|
3,388,676
|
|
|
136,220
|
|
|
5,596,995
|
|
|
421,630
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
License sales
|
|
811,932
|
|
|
56,140
|
|
|
1,662,623
|
|
|
101,409
|
|
Consulting - Software development
|
|
111,866
|
|
|
-
|
|
|
229,072
|
|
|
-
|
|
Hardware sales
|
|
478,404
|
|
|
-
|
|
|
979,645
|
|
|
-
|
|
Training and other
|
|
64,873
|
|
|
1,058
|
|
|
217,094
|
|
|
84,676
|
|
Cost of revenue
|
|
1,467,074
|
|
|
57,198
|
|
|
3,088,433
|
|
|
186,085
|
|
|
Gross profit
|
|
1,921,602
|
|
|
79,021
|
|
|
2,508,562
|
|
|
235,544
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating Expenses :
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and administrative
|
|
144,592
|
|
|
1,090,105
|
|
|
1,871,847
|
|
|
1,265,667
|
|
|
|
Depreciation and amortization
|
|
115,514
|
|
|
27,953
|
|
|
443,350
|
|
|
141,915
|
|
|
|
Total operating expenses
|
|
260,106
|
|
|
1,118,058
|
|
|
2,315,197
|
|
|
1,407,582
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain/(Loss) from operations
|
|
1,661,496
|
|
|
(1,039,037)
|
|
|
193,365
|
|
|
(1,172,038)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expenses)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
(56,871)
|
|
|
(190,007)
|
|
|
(171,862)
|
|
|
(573,251)
|
|
|
|
Amortization of convertible debt
|
|
-
|
|
|
(416,666)
|
|
|
-
|
|
|
(1,250,000)
|
|
|
|
Change in derivative liability
|
|
(56,655)
|
|
|
1,107,691
|
|
|
(1,677,025)
|
|
|
(1,939,689)
|
|
|
|
Gain (loss) on settlement of debt
|
|
(28,145)
|
|
|
-
|
|
|
2,606,095
|
|
|
-
|
|
|
|
Cancellation of warrants
|
|
-
|
|
|
-
|
|
|
2,163,195
|
|
|
-
|
|
|
|
Recovery of bad debts
|
|
1,086,061
|
|
|
-
|
|
|
1,086,061
|
|
|
-
|
|
|
|
Other financial income (expense)
|
|
92,352
|
|
|
121,982
|
|
|
352,791
|
|
|
140,360
|
|
|
Total other income/(expense)
|
|
1,036,742
|
|
|
623,000
|
|
|
4,359,255
|
|
|
(3,622,580)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from 27% Investment in Yinquan Holding
|
|
(7,851)
|
|
|
-
|
|
|
(7,851)
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from continued operations
|
|
2,690,387
|
|
|
(416,037)
|
|
|
4,544,769
|
|
|
(4,794,618)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss from Discontinued Operations
|
|
-
|
|
|
(395,931)
|
|
|
-
|
|
|
(1,110,402)
|
|
|
Net Income (Loss)
|
|
2,690,387
|
|
|
(811,968)
|
|
|
4,544,769
|
|
|
(5,905,020)
|
|
|
|
|
|
|
|
|
|
RESULTS OF OPERATIONS
Three Months Ended September 30, 2010 Compared to Three Months Ended September 30, 2009
Revenues . During the three months ended September 30, 2010, we recorded revenues of $3,388,676, an increase of $3,252,456, or 2,388% compared to $136,220 during the same period of 2009.
|
|
|
Three months ended September 30,
|
|
|
|
|
2010
|
|
|
2009
|
|
|
Revenues:
|
|
|
|
|
|
|
|
License sales
|
|
$ |
1,778,956 |
|
|
$ |
114,806 |
|
|
Consulting - software development
|
|
|
820,297 |
|
|
|
|
|
|
Hardware sales
|
|
|
672,243 |
|
|
|
|
|
|
Training and other
|
|
|
117,180 |
|
|
|
21,414 |
|
|
Total
|
|
$ |
3,388,676 |
|
|
$ |
136,220 |
|
During the third quarter, we had a strong revenue increase compared to the first and second quarters of 2010. In the first six months of 2010, we incurred a large sum of expenses given our significant effort to obtain new customers and contracts for our virtualization business. We officially transitioned from a VoIP products and services provider to a firm specializing in virtualization solutions and services in 2010. The increase of expenses in the first six months of 2010 resulted from this transition but our revenue growth was relatively small compared to the increase in expenses during this period. .
In the third quarter of 2010, our efforts from the first six months of 2010 resulted in our execution of several contracts and implementation of customized solutions for the clients. The completion of a number of virtualization projects caused our revenues to increase so substantially in the three months ended September 2010. As we continue to expand our operations and offer more unique solutions and services to more customers, our expected revenues are also expected to be strong in the three months ended December 31, 2010 and in 2011.
Cost of Revenues . Cost of revenues during the three-month ended September 2010 was approximately $1,467,074, an increase of $1,409,876 or 2,465%, compared to $57,198 during the same period of 2009, as a result of the continued marketing expansion strategy of the new virtualization business. The increased cost is comparable to our increased revenues during the three months ended September 30, 2010.
|
|
|
Three months ended September 30,
|
|
|
|
|
2010
|
|
|
2009
|
|
|
Cost of Revenues:
|
|
|
|
|
|
|
|
License sales
|
|
$ |
811,932 |
|
|
$ |
56,140 |
|
|
Consulting - software development
|
|
|
111,866 |
|
|
|
- |
|
|
Hardware sales
|
|
|
478,404 |
|
|
|
- |
|
|
Training and other
|
|
|
64,873 |
|
|
|
1,058 |
|
|
Total
|
|
$ |
1,467,074 |
|
|
$ |
57,198 |
|
Gross Profit . The gross profit was $1.9 million during the third quarter 2010, an increase of $1,842,581 or 2,332%, compared to $79,021 during the same period of 2009. The increased gross profit from the quarter was due to significant increased revenues from the operation of our virtualization business.
Selling, General and Administrative Expenses . Selling, general and administrative expenses were $144,592, declined $945,513, or 87% during the three months ended September 30, 2010, compared to $1,090,105 during the same period of 2009. The Company had a large bad debt expense in the nine months ended September 30, 2009.
Depreciation and Amortization Expenses . Depreciation and amortization expenses were $115,514 during the three month periods ended September 30, 2010, an increase of $87,561, or 313%, compared to $27,953 during the same period of 2009. Higher depreciation and amortization expenses in the third quarter of 2010 were driven by the increases in fixed and intangible assets associated with the operation of our virtualization business.
Operating Profit (Loss) . We recorded an operating profit of $1,661,496, an increase of $2,700,533 during the three months ended September 30, 2010, compared to operating loss of $1,039,037 during the same period of 2009. The operating profit in 2010 was driven by higher revenue derived from the new virtualization business. Significant growth of net revenues during the three months ended September 30, 2010 was more than enough to offset the increases in cost of revenue and the selling, general and administrative costs in the period.
Other Income (expense). Other income primarily included the interest expense of $56,871, an expense in change in derivative liability of $56,655, a loss in settlement of debt of $28,145 and other income of $92,352 during the three months ended September 30, 2010. In the three months ended September 30, 2010, we recorded an income of $1,086,061 from change of accounting estimate due to bad debt recovery.
Loss from Equity Investment . During the three months ended September 30, 2010, Yinquan purchased a 27% of equity interest in Shandong Yinquan Holdings. The loss from the 27% investment was $7,851 during the third quarter.
Net Income (Loss) . As a result of the factors described above, our net income increased approximately $3.5 million, to approximately $2.7 million or $0.04 per share (basic and diluted) in the three months ended September 30, 2010 from a net loss of approximately $0.8 million, or ($0.01) per share (basic and diluted) for the same period of 2009.
_____________________-
Mr. Li continued, "We are confident that we can deliver $15 million in revenue and $3.5 million in EBITDA for 2010 based on our virtualization pipelines and existing contracts. In the last couple of months, we have signed virtualization contracts with several high-caliber multinationals including Huaneng Power International Inc., CITIC Group, and China Southern Power Grid. We expect to continue to penetrate these markets and maintain our leadership position."
.........
I am very pleased to announce that we have successfully won the virtualization project bid of a large-scale enterprise in China, which was highly ranked in the 2010 Global Fortune 500. We competed with several well-known global virtualization venders in the fierce competition to obtain this customer. The project will have a significant impact on our revenue and profit in next two years. This case success fully demonstrated our leading technical and service expertise in China virtualization industry. "
From:
Who knows, perhaps IICN will deliver 9.4M in revenues for the FY2010 4th Q.and finally announce the change in auditor from Kabani to a top tier auditor. Otherwise those dreams of up listing will remain dreams.
Cazador |
 | 5930  | | IICN | | 09-Mar-2011 12:39 PM | |
The Desktop and its Operating System was yesteryear's battleground. We know how that story turned out - Microsoft won that war. Then the browser wars began and that battle rages on. Similarly with the rise of smartphone technology and other mobile platforms, Nielsen has even declared Android as the smartphone winner - only time will tell for sure.
The bottom line is that the giants of IT are seeking out a winning control point in this new Cloud computing paradigm, and virtualization - the ability to run multiple operating systems on the same physical server, which is currently dominated by VMware, is a key Cloud enabling technology.
The Market Intel Group forecasts the 2011-2016 global market for virtualization at $290 billion, and $300 billion for Cloud computing. With so much at stake, it's no surprise that the virtualization wars are now well under way.
Complete article:
Mar. 9, 2011 09:30 AM EST Reads: 444
IICN's Solutions:
http://translate.google.com/translate?hl=en&sl=zh-CN&tl=en&u=http%3A%2F%2Fwww.yinquan.cn%2F
Click on Clound Computing under Solutions (Seven Parts):
Cloud computing solution
一、概述 I. Overview
VMware vSphere 4 VMware vSphere 4 is the industry's first cloud computing operating system, which uses the power of virtualization into the data center greatly simplifies cloud computing infrastructure to enable IT organizations to use internal and external resources, security, and provide a new generation of low-risk flexible and reliable IT services.
To more than 130,000 customers use proven platform features based on VMware Infrastructure, VMware vSphere 4 significantly reduces capital and operating costs in strengthening the control of IT service delivery, it is also retained in any type of operating system, applications, and hardware, using internal or external resources managed to choose between flexibility.
With internal and external cloud computing-based VMware vSphere 4, and the use of federal and standards to connect to internal and external cloud computing infrastructure, organizations of all sizes can realize the full benefits of cloud computing.
The China Information Technology Report
The China Information Technology Report provides industry professionals and strategists, corporate analysts, information technology associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on China's information technology industry.
Chinas IT market is expected to remain a global outperformer during 2011-2015. IT spending is forecast to reach US$103.6bn in 2010, increasing to US$167.4bn by 2015. An expansion in consumer credit and a commitment to modernisation in sectors such as education, healthcare and manufacturing will help sustain market growth.
Total IT spending in China is projected to grow at a CAGR of 12% over the five-year forecast period. Several factors, including a vast potential rural market, government spending and gradual modernisation in sectors such as education, healthcare and manufacturing will help sustain market growth. Growing interest in cloud computing will drive vendor investment and attract new players into the market.

"We are already beyond the hype and into the adoption cycle for cloud computing, with hundreds of companies and thousands of developers delivering products now," said Michael Mudd from the Open Computing Alliance at a recent Asian Cloud event at the Dusit Thani hotel in Makati City, Metro Manila, Philippines. Citing Gartner figures, Mudd spoke of a 25% CAGR for Cloud worldwide through the year 2020--"this means there will be more than 2 trillion financial transactions alone, running on 31 billion devices and 25 million applications," he said. Mudd added that Gartner estimates

Federal CIO Vivek Kundra's "Cloud First" plan for the Federal government is brilliant, as concise as such a plan can be, and should serve as a model for business and government throughout the world. It doesn't overpromise--or even promise--monetary savings, yet sets a goal of devoting 25% of all Federal IT spend on Cloud Computing initiatives. It mentions consolidation and agility, but focuses on innovation, as it should. It sets a short but realistic 18-month timeline for clear progress, while also outlining clear strategies and tactics that will outlive the current administrat...
Cazador |
 | 5908  | | IICN | | 08-Mar-2011 03:10 PM | |
Yeah WT, I see your point.
Hopefully IICN will announce change in auditors and come in as guided for the FY2010.
My bet IICN will do both and I'm hoping for 1Q 2011 revenue guidance to be in the 12-13 million area.
|
 | 5904  | | IICN | | 08-Mar-2011 10:57 AM | |
Security Deletions on the OTC Bulletin Board
posted by The Traveller on Saturday, February 26, 2011
There has been enormous confusion last week, surrounding the deletion of more than 1000 microcap stocks, including many Chinese ones, from the OTC Bulletin Board. The daily list of changes for the OTCBB gives a reason for those deletions: "Failure to comply with Rule 15c2-11." Subsequently financial websites as Google Finance or Yahoo Finance will no longer list those securities as "OTC quoted", instead they will change the market segment to "Pink Sheets" or just "PINK" (example: Weikang Bio-Technology, WKBT, Yahoo Finance, Google Finance). Additionally, Yahoo Finance and most brokers will no longer use the ending ".OB" for those stocks, but replace this indicator with ".PK" for the Pink Sheets or "Other OTC".
What seems to be a negative development, a demotion for those stocks, is actually just a change of the quotation platform. There is absolutely no reason to worry for investors, those companies are still U.S. registered and fully reporting with the U.S. Securities and Exchange Commission (SEC). Price declines over the past week, following the deletion from the OTC Bulletin Board, are not justified, as the change was not caused by any action or inaction of the company, nor did the company fall short of its reporting requirements.
Here is a little bit more about the background. The OTC Bulletin Board was owned and operated by the Financial Industry Regulatory Authority, or FINRA, the Wall Street regulatory authority. In late 2009, FINRA decided to part with it to focus on its core business, and in September 2010 the U.S. investment bank Rodman & Renshaw agreed to buy the trademark and website in a deal that is expected to close this quarter. Rodman said it plans to expand its "quality services and products offered to the financial community," and wants to diversify its revenue base.
But long before that sale, a competing platform, OTC Markets Group, had emerged as the dominant player for OTC securities. At the end of 2010, about 94% of all market maker quotes were published on OTC Markets Group's platform vs. just 6% on the FINRA Bulletin Board. Most brokers have migrated from the telephone-based OTCBB quotation system to the electronic OTC Markets platform since 2008, but for the time being almost all OTC securities were dually quoted on both platforms. That is changing now.
A deletion notice on the OTC Bulletin Board website simply means that the stock has completely migrated to the OTC Markets platform and is no longer quoted on the OTCBB. However, OTC Markets is not recognized by most financial websites and brokers as "OTC", which led to the current "Pink Sheets" confusion. OTC Markets Group is a privately owned company that has its origins with the National Quotation Bureau (NQB). In June 2000, NQB changed its name to Pink Sheets LLC and introduced a financial information portal for unlisted securities under www.pinksheets.com. In April 2008, Pink Sheets LLC announced that it changed its name to Pink OTC Markets Inc., and finally this year, on January 18, they got rid of the "pink" completely to become OTC Markets Group Inc. The website has been renamed to www.otcmarkets.com since, and free real-time quotes are offered for all fully reporting securities on that site.
OTC Markets organizes OTC securities into three tiers, where OTCQB, their middle tier stands for "OTC-traded companies that are reporting with the U.S. Securities and Exchange Commission (SEC) or a U.S. banking or insurance regulator." A .CSV file of all stocks quoted on OTC Markets' platform is available online. Those tiers, also OTCQX and OTC Pink, are not recognized (yet) by most quotation websites and brokers, which makes it difficult for investors to identify an unlisted but fully reporting stock through a third party provider. Very few companies have informed investors about the platform change the way China Tel Group did.
Source:
http://china.fixyou.co.uk/2011/02/security-deletions-on-otc-bulletin.html
Other article:
FINRA’s fee for OTCBB market makers is $6.00 per security traded during a given month. For market makers quoting hundreds of securities per month, these costs can quickly become prohibitive. According to the CCH Washington Service Bureau:
OTC Bulletin Board market markers [sic] are billed participation fees by The Financial Industry Regulatory Authority (FINRA) based on the number of positions during a given month. Because such fees have made it challenging for market maker firms to maintain markets in stocks that are not active, such firms are increasingly moving market making in OTCBB stocks from the OTCBB, which is a telephonic only market, to a new electronic interdealer quotation system [OTC Link] created by Pink OTC Markets, Inc. that lacks any participation fees. [Full article here]
......
Ted Campbell, CEO of GrowPublic, Inc., sums up the situation well:
It may take awhile for investors and issuers to come to the conclusion there is no real difference between an OTCBB® listed security and a Fully Reporting Issuer trading on the Pink Sheets now under the OTCQB designation. The recent move by many market makers to pull quotes on the OTCBB® platform causing a mass delisting to the Pink Sheets may be a precursor to the end of the importance of being listed on the OTCBB.
http://blog.redchip.com/index.php/stocks/otcbb-delistings-and-rule-15c2-11-what-happened
Cazador |
 | 5902  | | IICN | | 08-Mar-2011 10:42 AM | |
I do not see this as a positive. It will result in less interest and may turn into a graveyard.. But now companies will have more reason to get ducks in a row to up-list. The key is to find the stocks with the cheapest valuations that will up-list.
|
 | 5900  | | IICN | | 08-Mar-2011 09:21 AM | |
The OTC Markets Group is a leader in using technology to bring positive changes to the OTC market, and many broker-dealers are now exclusively using its platform to quote OTC securities. In the past week certain market makers have stopped issuing quotes on the OTC Bulletin Board in favor of the OTCQB. As a result of the lack of quotation activity on the OTCBB, CIISI is now quoted on the OTCQB and trading has continued without interruption. The Company was advised by the OTCBB that the change was not a result of any problems with the Company's operations or compliance, but resulted from the actions by the market makers. The OTCQB is a market tier for U.S. listed companies that are in compliance with their SEC reporting obligations.
"The shift to the OTCQB was unexpected and does not affect, nor is it a reflection upon the Company's business, operations or prospects, which remain strong and in line with expected and current trends," saidMr. Li Kunwu, Chairman and CEO. "Furthermore, as this shift just occurred, it is too early for us to determine whether this will have any positive impact on our trading price or market liquidity."
Mr. Li concluded, "The transition to the OTCQB does not affect the Company's business or its status as a public reporting company under the Securities Exchange Act of 1934. The Company intends to closely monitor the situation as it evaluatesits alternatives; determining whether to remain listed for quotation on the OTCQB, seek to resume quotation on the OTCBB, or explore a listing on a national securities exchange, pending satisfaction of required quantitative listing standards."
Certain third-party stock data providers are in the process of updating their platforms to correctly display the trading activity of companies that have transitioned from OTCBB to OTCQB. For accurate price and volume information regarding CIISI on the OTCQB marketplace please visit: .
......
About OTC Markets Group:
OTC Markets Group Inc. (otcqx:OTCM) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. Our OTC Link platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. In 2010, securities on OTC Link traded over$144 billionin dollar volume, making it the third largest U.S. equity trading venue after NASDAQ and the New York Stock Exchange. We categorize the wide spectrum of OTC-traded companies into three tiers- OTCQX (the quality-controlled marketplace for investor friendly companies), OTCQB (the U.S. reporting company marketplace for development stage companies), and OTC Pink (the speculative trading marketplace) -- so investors can identify the level and quality of information companies provide.
Good presentation of data by OTCOB:
Market Makers:
This is good:
Jan 25, 2011 ... 2 January 25th, 2011 - Morningstar adds OTC Markets Group Data to ... “We are pleased to have included OTC Markets Group real-time data in ...
Another OTC site. I see updated information
Shares 69,791,489
PE Ratio 2.10
:
Anybody who wants to contact IR (I don't get any replies to my e-mails) and ask about the chage in auditors and when FY2010 report is coming out will be appreciated.
CIISI Investor Contacts:
Michelle Wong, (CHINA) +86-531-5558-5742, michellewong@yinquan.cn, or
Great Wall Research LLC (USA)
Dina Ding, +1-203-252-7266, dding@greatwallresearch.com
Cazador
|
 | 5865  | | IICN | | 06-Mar-2011 09:58 AM | |
istockAnalyst.com (press release) - 4 hours ago
... fast and sustainable economic growth in the country's 12th Five-Year (2011-2015) Plan. Wang, who is also the vice-chairman of All-China Federation of ... |